Any indirect way to speculate on Bitcoins, like through an ETF perhaps?
Thought I'd see if ASF had a bitcoin thread, seems that I was the one that started it!
I don't know of an indirect way to speculate on it, why not just buy some?
Two reasons really. Firstly I don't want to keep them at some exchange as those tend to disappear or get hacked, and secondly I don't want to hold them "physically" either as that is also risky. Kind of like keeping cash under the pillow
I have found some CFDs though which could be interesting. Seems like the only way to get into the game without having to deal with the technicalities of holding onto Bitcoins...
Is it possible to buy Tulips at Interflora with bitcoins?
gg
SoberLook said:.... utter nonsense. This is speculation - pure and simple....
That's ridiculous...to think of the money i could of made.a BC was worth about 7$ when i discovered them.
Bitcoin jumping around today, as "low" as $530 and as high as $900.
My personal view is that Bitcoin is binary – it’s either worth a lot and significantly more than it is today, or its worth nothing at all. US money supply (M2) is around USD 10.5 trillion and therefore if all of that was converted into Bitcoin, assuming all 21 million bitcoins exist, the implied price would be around USD 0.5 million per bitcoin. And there’s a lot of M2 out there that isn’t USD. That’s if you buy the Bitcoin story.
For me, there are many reasons why you probably shouldn’t. I think a currency that is finite is analogous to a deflationary economy and therefore their use is discouraged, there are an unlimited number of Bitcoin substitutes because there are no barriers to entry, there are significant barriers to any serious companies adopting Bitcoin in any meaningful way (even if you ignore regulation), trust is a huge issue and the whole system is reliant on encryption that to my understanding cannot easily be upgraded and may one day be defeated.
I’ve explored it in much greater detail on my blog. In short, I think it’s nothing more than a means of settling illegal transactions, a vehicle for speculation or a protest against banks and the governments that support them. I really hope I’m wrong, but I think it’s only a matter of time before the bubble busts.
IMO it has already burst. Check out this chart and how a bubble usually plays out. Currently at the bull trap
View attachment 55419
That's all well and good but we are on the third bitcoin 'bubble' and each makes vastly higher highs than the last. The same diagram has been compared to all of them. True bubbles never go close to retaining their pre burst highs.
Bitcoin is interesting, been following it a bit myself.
For something that isn't actually anything physical, it baffles me how it can be of equal value almost to the likes of Gold...........then again, I guess the ideal currency that all drug lords and smugglers use as it can't be identified as to who and where it's going(not very easily anyway) is going to be fairly valuable.
Its value is determined by pure demand and supply as per adam smiths economics .Therefore if there is a lack of demand it will fall and if there is an over supply it will fall . However because supply is limited by the equation that is used to create it there is a known limited unltimate supply in contrast to precious metals where we do not know if all gold has been discovered and how much there is.
Tracing it can be achieved despite what has been reported in the media . The difficulty is that due to encryption levels on bit coin wallets if law enforcement catches the crooks they cant access the money without the password which the criminals may or may not hand over The cases that have occurred recently of unauthorised naccess have been because individuals used on line wallets rather than off line wallets
Unlike fiat currencies bitcoin cannot be manipulated by governments through printing more .
I am of the opinion that it will take out a big proportion of the business to businesss international transaction market where the banks charge enormous fees but bit coin is free Although you can pay a fee to speed up the trasaction
Users of bitcoin however do pay a fee to turn cash into bitcoin and bitcoin back to cash. However the more the market develops the less often people will need to move back and forth.
Bitcoin exchanges in Australia include bit trade australia which I use can be found at bitcoin charts.com look under currencies at the AUD
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