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Started By
Message
IG Markets open a Bitcoin binary options market
Posted on 4/25/13 at 9:47 am
Posted on 4/25/13 at 9:47 am
1
Posted on 4/25/13 at 10:48 am to joshnorris14
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.
Posted on 4/25/13 at 10:54 am to Poodlebrain
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.
IMO, something like this just makes it seem like less of a currency and more of an instrument for speculation.
Posted on 4/25/13 at 10:55 am to Poodlebrain
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....
Posted on 4/25/13 at 11:32 am to LSURussian
It's almost like he sees a Bitcoin headline and thinks "Hey I'll post this and see what happens"
Posted on 4/25/13 at 11:52 am to LSURussian
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.
Posted on 4/25/13 at 11:59 am to Poodlebrain
As small a market as bit coins are it would not be difficult to influence.
Edit: forgot to add the "not"
Sorry :iphoneproblems:
Edit: forgot to add the "not"
Sorry :iphoneproblems:
This post was edited on 4/25/13 at 12:26 pm
Posted on 4/25/13 at 12:15 pm to C
quote: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.
As small a market as bit coins are it would be difficult to influence.
Posted on 4/25/13 at 12:15 pm to C
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.
Posted on 4/25/13 at 1:12 pm to Poodlebrain
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 bullshite. It's a way for people in the UK to short bitcoin right now.
Posted on 4/25/13 at 1:14 pm to LSURussian
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.
Posted on 4/25/13 at 1:18 pm to joshnorris14
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.
Posted on 4/25/13 at 1:25 pm to Broke
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 4/25/13 at 1:26 pm
Posted on 4/25/13 at 1:26 pm to joshnorris14
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.
Posted on 4/25/13 at 1:27 pm to Broke
If you disagree with property ownership, by all means, be my guest.
Posted on 4/25/13 at 1:30 pm to joshnorris14
Yeah, it's bullshite to liken this to gambling as opposed to investing. You are smart.
Posted on 4/25/13 at 1:32 pm to acgeaux129
quote:
Yeah, it's bullshite 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!
Posted on 4/25/13 at 1:36 pm to joshnorris14
quote: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.
the U.S. doesn't account for the entire bitcoin economy. You understand that, right?
This post was edited on 4/25/13 at 1:37 pm
Posted on 4/25/13 at 1:37 pm to LSURussian
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.
Posted on 4/25/13 at 1:37 pm to WikiTiger
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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