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joshnorris14
Florida Fan
Florida
Member since Jan 2009
21570 posts

IG Markets open a Bitcoin binary options market



Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
17618 posts

re: IG Markets open a Bitcoin binary options market
Do you understand what binaries are? They allow you to bet on the market price of Bitcoins without ever actually investing in Bitcoins. In other words, they are more like gambling than investing. You place your bet whether or not some specific condition will be satisfied. The result is either yes you win your bet, or no you lose.


ZereauxSum
LSU Fan
Lot 23E
Member since Nov 2008
10176 posts

re: IG Markets open a Bitcoin binary options market
So this is basically "Intrade" for bitcoin?

IMO, something like this just makes it seem like less of a currency and more of an instrument for speculation.


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LSURussian
LSU Fan
Member since Feb 2005
85180 posts

re: IG Markets open a Bitcoin binary options market
And the last I researched this type of operation, it is illegal in the U.S., not that something as unimportant as breaking the law matters to Josh and wiki....


Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
59147 posts

re: IG Markets open a Bitcoin binary options market
It's almost like he sees a Bitcoin headline and thinks "Hey I'll post this and see what happens"


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Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
17618 posts

re: IG Markets open a Bitcoin binary options market
You could conceivably purchase a binary that the price will rise to a certain level that will result in a huge payout. Then you go to one of the Bitcoin exchanges and make bids at prices above your binary target. This allows you to leverage manipulation of the Bitcoin market.


C
LSU Fan
The Woodlands, TX
Member since Dec 2007
23204 posts
Online

re: IG Markets open a Bitcoin binary options market
As small a market as bit coins are it would not be difficult to influence.

Edit: forgot to add the "not"

Sorry :iphoneproblems:
This post was edited on 4/25 at 12:26 pm


Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
17618 posts

re: IG Markets open a Bitcoin binary options market
quote:

As small a market as bit coins are it would be difficult to influence.
Actually, it is just the opposite. You can more easily influence a market with lower volume since your actions will have a greater influence in proportion to the total.


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Vols&Shaft83
Tennessee Fan
Throbbing Member
Member since Dec 2012
27602 posts

re: IG Markets open a Bitcoin binary options market
quote:

As small a market as bit coins are it would be difficult to influence.



I would think the opposite would be true. I would say that one person could significantly influence the price of bitcoin a lot easier than someone could influence the price of larger market commodities.


Binary option trading is already on regulator shite lists, because it isn't investing, it's gambling.


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joshnorris14
Florida Fan
Florida
Member since Jan 2009
21570 posts

re: IG Markets open a Bitcoin binary options market
quote:

Do you understand what binaries are


It's not exactly hard to understand.

quote:

In other words, they are more like gambling than investing.


This is bull shite. It's a way for people in the UK to short bitcoin right now.


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joshnorris14
Florida Fan
Florida
Member since Jan 2009
21570 posts

re: IG Markets open a Bitcoin binary options market
quote:

And the last I researched this type of operation, it is illegal in the U.S.


Right. But, again, the U.S. doesn't account for the entire bitcoin economy. You understand that, right?

quote:

not that something as unimportant as breaking the law matters to Josh and wiki....



Breaking immoral or unnecessary laws is no vice.


Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
59147 posts

re: IG Markets open a Bitcoin binary options market
quote:

Breaking immoral or unnecessary laws is no vice.


So people get to pick and choose which laws they break now? No wonder this stuff interests you.


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21570 posts

re: IG Markets open a Bitcoin binary options market
quote:

So people get to pick and choose which laws they break now?


Isn't this how the world works?

There is no supreme prevention. Everyone gets to choose whether they break a law or not, do you not agree with this?
This post was edited on 4/25 at 1:26 pm


Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
59147 posts

re: IG Markets open a Bitcoin binary options market
quote:

Everyone gets to choose whether they break a law or not, do you not agree with this?


Absolutely 1000% agree with you. On my way to rob some banks right now.


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21570 posts

re: IG Markets open a Bitcoin binary options market
If you disagree with property ownership, by all means, be my guest.


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acgeaux129
USA Fan
We are BR
Member since Sep 2007
15011 posts

re: IG Markets open a Bitcoin binary options market
Yeah, it's bull shite to liken this to gambling as opposed to investing. You are smart.


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: IG Markets open a Bitcoin binary options market
quote:

Yeah, it's bull shite to liken this to gambling as opposed to investing.


Have we been propagandized enough to where people don't inherently think investing is a form a gambling? If so, success! Huzzah!



LSURussian
LSU Fan
Member since Feb 2005
85180 posts

re: IG Markets open a Bitcoin binary options market
quote:

the U.S. doesn't account for the entire bitcoin economy. You understand that, right?
What I understand is you are an ignorant little prick who wears beanies in the spring because you think it makes you look cool and who has totally fricked up the Money Talk Board with your political shite.
This post was edited on 4/25 at 1:37 pm


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21570 posts

re: IG Markets open a Bitcoin binary options market
quote:

What I understand is you are an ignorant little prick who has totally fricked up the Money Talk Board with your political shite.


I believe you're the person who brought up political shite in this thread.


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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
59147 posts

re: IG Markets open a Bitcoin binary options market
quote:

Have we been propagandized enough to where people don't inherently think investing is a form a gambling?


If you believe that betting 10k on red and buying $10,000 worth of Exxon is the same thing, you have bigger issues.


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