tag:blogger.com,1999:blog-6704573462403312459.post7008576629338030688..comments2024-03-28T06:53:23.473-04:00Comments on Moneyness: Financial deepening and currency internationalization, the bitcoin editionJP Koninghttp://www.blogger.com/profile/02559687323828006535noreply@blogger.comBlogger17125tag:blogger.com,1999:blog-6704573462403312459.post-62800629750765717232014-03-28T04:19:18.229-04:002014-03-28T04:19:18.229-04:00This only shows that those bitcoin casinos are one...This only shows that those bitcoin casinos are one big asset to increase bitcoin trading volume. Legality and volatility are the biggest challenges in bitcoin ecosystem. Imagine, if that would be overcome and BTC price will stabilize, for sure, central banks will start to cry. Bitcoin is their strangest competitor now; you can predict its future.<br /><br />Philipjones<br /><a href="https://www.betcoin.tm/" rel="nofollow">BetCoin™</a>Philip Joneshttps://www.blogger.com/profile/05281442578615687296noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-25352391793060787342013-08-08T14:11:04.941-04:002013-08-08T14:11:04.941-04:00Most of the time I don’t make comments on websites...Most of the time I don’t make comments on websites, but I'd like to say that this article really forced me to do so. Really nice post! Click here : <a href="http://www.youtube.com/watch?v=lXnjTXOKYMA" rel="nofollow">bitcoin robot</a><br />Tony Bhttps://www.blogger.com/profile/15832941259064195489noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-40129205843252889112013-08-02T08:01:38.210-04:002013-08-02T08:01:38.210-04:00The largest for the past six months or so has been...The largest for the past six months or so has been S.MPOE. Lately the market cap difference is small, but still present.<br /><a href="http://www.liteforex.com/company/awards/100-world-finance/" rel="nofollow">International Financial Markets</a><br />Lite Forexhttps://www.blogger.com/profile/16665543034398561731noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-74478780782780110112013-05-09T16:38:25.315-04:002013-05-09T16:38:25.315-04:00"Banks are about to suffer their biggest disr..."Banks are about to suffer their biggest disruption since the gold standard was abandoned. The advantages that Bitcoins give you far outweigh the disadvantages."<br /><br />Nothing more to add.Bitcoin Bettorhttp://www.bitcoinbettors.comnoreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-64319366352076148592013-02-26T17:25:49.811-05:002013-02-26T17:25:49.811-05:00Banks are about to suffer their biggest disruption...Banks are about to suffer their biggest disruption since the gold standard was abandoned. The advantages that Bitcoins give you far outweigh the disadvantages. It's just a better product than what traditional banks offer us. Don't miss the boat and get started using Bitcoins here! http://thebitcoinmaster.blogspot.com<br />The Bitcoin Masterhttps://www.blogger.com/profile/17671693587347418457noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-45155101045699024782013-02-22T16:50:15.518-05:002013-02-22T16:50:15.518-05:00This chart.
It seems to correlate well with pirat...<a href="http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2012-7-25zeg2012-09-03ztgSzm1g10zm2g25zv" rel="nofollow">This chart</a>.<br /><br />It seems to correlate well with pirate.<br /><br />But you are right, correlation is not necessarily causation. I'll soften my point and say that there is a reasonable chance that the Pirate event caused a fall in bitcoin.<br /><br />"(What would cause it? No one has been able to point to Pirate cashing out for fiat, and if you are buying bitcoins, then unless you were buying them to invest directly in Pirate, why would you care?"<br /><br />As Eichengreen points out, one of the valuable services a currency provides is access to deep financial markets. The pirate debacle destroyed this market, at least temporarily, and as a result bitcoin provided less services than before.JP Koninghttps://www.blogger.com/profile/02559687323828006535noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-72065263685924325102013-02-22T15:39:21.232-05:002013-02-22T15:39:21.232-05:00Offhand, I don't remember any such fall. (What...Offhand, I don't remember any such fall. (What would cause it? No one has been able to point to Pirate cashing out for fiat, and if you are buying bitcoins, then unless you were buying them to invest directly in Pirate, why would you care?)<br /><br />Even if there were such a fall, 'because' is a pretty strong claim to make of price movements in a currency you've already pointed out fluctuates large amounts constantly.gwernhttps://www.blogger.com/profile/18349479103216755952noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-77522827223188652042013-02-22T14:54:06.844-05:002013-02-22T14:54:06.844-05:00Awesome, thanks for the invite, I may take you up ...Awesome, thanks for the invite, I may take you up on it. Let me read through your stuff first so I don't look like a dummy. Just looking over <a href="http://polimedia.us/trilema/2012/mpoe-december-2012-statement/" rel="nofollow">your financial statements</a>. Now I see why you've got a big market cap. Learn something new every day.JP Koninghttps://www.blogger.com/profile/02559687323828006535noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-37253603930242996952013-02-22T14:45:58.347-05:002013-02-22T14:45:58.347-05:00The two are unrelated. S.MPOE operates the options...The two are unrelated. S.MPOE operates the options bot and also owns MPEx itself. You can review the birth certificate here : http://polimedia.us/trilema/2012/sa-ne-jucam-de-a-investitiile-n-bitcoini/#comment-78745<br /><br />It also publishes P&L statements, the most recent being http://polimedia.us/trilema/mpoe-january-2013-statement (another one is due at the end of today).<br /><br />If you still have an irc client anywhere you could drop by on #bitcoin-assets on freenode, it's where most of Bitcoin finance takes place at the moment (most exchange ops are present there, most traders of consequence etc). If not http://webchat.freenode.net/?channels=bitcoin-assets.Mircea Popescuhttp://trilema.comnoreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-86747227499726677142013-02-22T14:28:44.530-05:002013-02-22T14:28:44.530-05:00Interesting. Is that because MPOE owns a bit of Sa...Interesting. Is that because MPOE owns a bit of SatoshiDice?JP Koninghttps://www.blogger.com/profile/02559687323828006535noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-55066915960166817532013-02-22T14:27:12.720-05:002013-02-22T14:27:12.720-05:00Yes, exactly like that. If I recall, bitcoin's...Yes, exactly like that. If I recall, bitcoin's price fell in half because of it.JP Koninghttps://www.blogger.com/profile/02559687323828006535noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-45412753146934860592013-02-22T14:25:12.394-05:002013-02-22T14:25:12.394-05:00"The largest publicly-traded company in the b..."The largest publicly-traded company in the bitcoin universe is SatoshiDice, a bitcoin gambling website listed on MPEx. With 100 million shares outstanding and a price of 0.006 BTC, SatoshiDice's market cap is ~600,000 BTC which comes out to around $17 million."<br /><br />Actually with the exception of a few days during its very strong January month, S.DICE is and always was the second largest publicly traded Bitcoin company. The largest for the past six months or so has been S.MPOE. Lately the market cap difference is small, but still present.Mircea Popescuhttp://trilema.comnoreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-75305410071879335512013-02-22T14:10:41.672-05:002013-02-22T14:10:41.672-05:00jt, it makes sense that real GDP growth helped int...jt, it makes sense that real GDP growth helped internationalize the US dollar. <br /><br />The same never really happened with the yen, though, even though Japan grew tremendously up till the 1990s. Something else is needed, namely financial openness and innovation, which Japan lacked since it had a relatively closed capital account. <br /><br />The bitcoin economy has tonnes of financial innovation. It has an incredibly open capital account... you can convert your dollars into bitcoin and buy a bitcoin-denominated stock in about 60 seconds. But bitcoin GDP is minimal... too much speculation I fear. JP Koninghttps://www.blogger.com/profile/02559687323828006535noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-55038055145596079292013-02-22T14:04:00.997-05:002013-02-22T14:04:00.997-05:00> SatoshiDice's sheer size is to some exten...> SatoshiDice's sheer size is to some extent problematic since Bitcoin financial markets are not as deep as they might appear. Should something ever happen to SatoshiDice, a big part of the bitcoin financial universe's liquidity will be wiped out, and this would ripple out across the entire field of bitcoin securities. The same might have happened to banker's acceptances in their day, except for one difference—the Fed was willing to back the acceptance market up. In the bitcoin universe, there's no buyer of of last resort to provide liquidity support to SatoshiDice shareholders.<br /><br />One could've said the same thing about the Pirateat40 ponzi scheme. When it finally shut down, that took out all the Pirate passthroughs, obviously, but as far as I know, it only took out one or two small funds which had been quietly investing in it.gwernhttps://www.blogger.com/profile/18349479103216755952noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-64844352573231544322013-02-22T12:37:02.661-05:002013-02-22T12:37:02.661-05:00Maybe this is a variation of the "what backs ...Maybe this is a variation of the "what backs bitcoin" question, but I'm wondering if the success of the US banker's acceptances was implicitly backed by economic output as the US real GDP growth was very strong in the ~1890-1920's period? Thus the bill liquidity was "backed by" highly liquid goods. The BTC-denominated stock exchanges provide liquidity but the underlying stocks don't look very liquid (i.e. you can't trade Cisco). Internet gambling looks to be a good application though. jtnoreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-20506774327409674172013-02-22T08:39:10.247-05:002013-02-22T08:39:10.247-05:00John, as far as I know the company you ask about d...John, as far as I know the company you ask about doesn't trade on any of the bitcoin exchanges.<br /><br />Nope, the poker boom pretty much passed me by. I do like playing it though.JP Koninghttps://www.blogger.com/profile/02559687323828006535noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-67534703956933655032013-02-22T03:25:23.080-05:002013-02-22T03:25:23.080-05:00Have you hear of Sealswithclubs, the poker site? A...Have you hear of Sealswithclubs, the poker site? Any idea how much it's worth?<br /><br />http://forumserver.twoplustwo.com/28/internet-poker/seals-clubs-bitcoin-poker-room-1248197/<br /><br />Btw, did you ever get involved in the poker boom? Seems like poker would be a natural fit with econ people (risk/reward, probability, game theory, bankroll management, etc).John Snoreply@blogger.com