bit¢oin$

My brother claims to have some kind of script that automatically buys and sells bitcoin on all four exchanges based on the "subtle" movements that it makes every day and is constantly reinvesting in itself. He says he's made thousands off it already. This can't really be true, can it? If such a thing were really profitable, wouldn't there be a thousand people (or one guy with a thousand computers) doing this already?

great questions

i want a bitcoin

cram it

these things hit $900 the other day????????

wtf.

gimme the bitcoins.

xp frogs it easily can be true since bitcoins have been going up, it could also be true in a bear market but that would be a better trick

i wonder how many bitcoins d34thdr0ne3 has

he keeps them in a cigar box

frogs it easily can be true since bitcoins have been going up, it could also be true in a bear market but that would be a better trick

I don't doubt the fact that you can make money that way but rather the idea that this hasn't reached bitcoin-mining levels of inefficiency a long time ago. If he's making "thousands of dollars" running one script surely there are thousands of others running similar ones?

sure but instead of running a script he could just buy bitcoins and that would work to, making money in a bull market is easy

Frogs if what he's doing is taking advantage of price differences between the exchanges then yes it is possible and in fact there is literally trillions of dollars invested in the practice at this moment

http://en.wikipedia.org/wiki/Arbitrage

It requires a lot of capital to really be worth it though and he is at the risk of having his entire position wiped out by either 1) an error in his script or 2) the freefall nature of speculative investments

it sounds like it's more just working off the wild fluctuations in pricing and probably what makes it viable is a completely unregulated trading market without (significant) transaction fees, i'm guessing

Transaction fees would be hindrance, for sure

The other possibility is http://en.wikipedia.org/wiki/High-frequency_trading

yeah it could be arbitrage (I used to do a similar thing in sportsbetting and yeah you can accidently go broke quick) but he also claims he didn't invest anything into it, something seems odd about it

still this stuff is pretty fascinating. A complete crash seems inevitable at some point. The potential for fraud is through the roof with these things.

so many tech 3.0 services are basically crowdsourced versions of existing things without any sort of regulations protections or oversight at all

Could be he's using other people's money. Have you checked your bank account recently xp

someone just moved $147m in BC

https://blockchain.info/tx/1c12443203a48f42cdf7b1acee5b4b1c1fedc144cb909a3bf5edbffafb0cd204

me irl

someone linked to an article yesterday where the headline was "Bitcoin: The Segway of Currencies" lol

http://i.imgur.com/rhJYFVq.jpg

^^ overstates condom effectiveness

http://bitcoincharts.com/charts/chart.png?width=940&m=mtgoxUSD&SubmitButton=Draw&r=60&i=&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=0&p=0&

researchers positing a dpr/satoshi connection!

http://bits.blogs.nytimes.com/2013/11/23/study-suggests-link-between-dread-pirate-roberts-and-satoshi-nakamoto

alex winter

http://www.kickstarter.com/projects/alexwinter/deep-web-the-untold-story-of-bitcoin-and-the-silk

party on

from circle k to circle b

i'd watch that

frogⒷs

http://i.imgur.com/o3BbZI4.png

Researchers Retract Claim Of Link Between Alleged Silk Road Mastermind And Founder Of Bitcoin

http://www.businessinsider.com/silk-road-satoshi-paper-retraction-2013-11

dang

just hit $1000, wow

that buys a lot of subway

Bitcoin is over fwiw. I'm all in on Litecoin

serious question. if I wanted to say, buy one bitcoin and then sell it a day later, how long before I'd see any actual cash? how much would I lose in transaction fees? is such a thing even possible in the U.S. without some major hoop jumping right now?

frogbs I'm gonna say that this week is your lucky week. All the details are here

http://blog.coinbase.com/post/68147862129/coinbase-to-waive-all-fees-on-11-29-13-in-support-of

But I have a better way. Just paypal me the money you wanna spend at ilxbitcoinexcha✧✧✧@gm✧✧✧.c✧✧ and I'll take care of everything for you. Remember to tell me how many bitcoins you wanna buy

hit up my etsy storefront if you are SERIOUSLY interested in buying bitcoin no time wasters

i'm not interested. i'm just curious if it's even possible. from what I've read it seems like someone who bought it at $20 and now wanted to sell would have a very difficult time of doing so. like it would almost be easier to just blow it all on drugs and then sell those.

Yeah I really have to question how much liquidity there actually is on the market

right. like half the stories on ycombinator are "this has taken 3 weeks and I needed to give a ton of sensitive information" and the other half are "I got hacked and lost it all"

Bitcoin is over fwiw. I'm all in on Litecoin

― 乒乓, Wednesday, November 27, 2013 8:30 AM (2 hours ago) Bookmark Flag Post Permalink

i was getting all bitcoin jealous yesterday and started to look at litecoin but couldn't figure out how to buy them, anyway they were $18 yesterday and now they're $29 today

http://www.theguardian.com/technology/2013/nov/27/hard-drive-bitcoin-landfill-site

http://replygif.net/i/1049.gif

http://www.reddit.com/r/Bitcoin/comments/1r88vl/need_advice_on_inheritance_arbitrage_family_etc/

http://www.reddit.com/r/SheepMarketplace/comments/1ru5ir/founda_wallet_containing_98million_worth_of_coins/

http://www.reddit.com/r/SheepMarketplace/

Lol Bitcoin users who used this service just got scammed out of all their bitcoins

loll the benefits of anonymous currency

every private/public key just leaked

http://directory.io/

dunno if that means anything considering the insane amount of data this is but lol

what does that actually mean