Quote:
Originally Posted by TomCollins
IMO, the biggest flaw in Bitcoin is the initial distribution of coins.
Bitcoin really screwed this up.
Why are you assuming there was a "mistake"?
It took me 2 weeks to figure this out...
That "fixed creation of BTC" = "deflationary spiral"...
Which is a quasi-Ponzi scheme to enrich the creators.
There's been no mistake...
The creators are out with $500K or $1000K profit...
And working on the next quasi-Ponzi crypto-currency.
Because Bitcoin has been discredited.
A business class currency...
Cannot not work without a trusted Central Authority...
Completely decentralized like BTC are toys.
How naive do you have to be...
To believe that "Bitcoin is exactly like gold"?
So many young people fall for "toys" like BTC...
Because they have no experience with financial markets...
Forex trades 4 TRILLION $$$ per day...
It's by FAR the biggest, decentralized, unregulated market...
Why would a Pro Trader **** around with BTC?
http://en.wikipedia.org/wiki/Foreign_exchange_market
BTC got me back into Forex (as a sideline to my core stock trading)...
And I've already traded > $40,000,000 as I ramp up...
By the end of summer I'll be doing 100 x $100,000 trades/day...
I have to build and optimize a lot of infrastructure.
On $10 million/day in Forex you might NET > $500/day long run...
But that adds up *** if it's a sideline ***...
And there's *** no real ceiling *** if your methods work...
A $1,000,000 trade in any Top 10 currency...
Is a drop in the bucket, so you can ramp up fast...
Your margin is 2-3% = very Capital Efficient...
And it's classic Stats Arb = my specialty...
As opposed to near pure gambling w/BTC = Pink Sheet trash.
Just saying...
That faster the *** talented among you ***...
Get into financial markets, the better for you...
I wasted > 10 years of my life on sports betting...
Though that taught me about the nature of randomness...
And I was profitable with stocks from Day One.
Above all...
Think like a bookie... not a sports bettor.