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royco

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I2 Investments, a fund said to be investing in bitcoins, told customers that 95 per cent of their money had been wiped out after its trading strategy went awry at the start of the month.

 

I2 Investments, which had an office in London but apparently was run out of Austria, said that sharp moves in the value of bitcoin at the beginning of September after a clampdown by the Chinese authorities had caused a "significant trading drawdown loss". The fund, whose website was registered in Vienna, said it was managing about ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’‚¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¬26 million. It added in a notice on its website on September 1 said that nearly all of its investors' funds had been lost.

 

"The Bitcoin (BTC) trading strategy implemented caused a large and immediate downward shift of several thousand Points/Pips that our strategy could not recover from due to being designed for Spot FX (foreign exchange) trading on four-digit (much lower volatility) instruments. "We are genuinely shocked by the turn of our BTC strategy's trading algorithm."

sharp moves .... what, bitcoin down (say) 20%, yet 95% lost? Sounds like gearing a synthetic, to me. As someone said, take it up with the cryptoauthorities

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https://www.cnbc.com/2017/09/13/bitcoin-pri...-crackdown.html

 

It's not just Chinese regulators taking a closer look at bitcoin. On Wednesday, India's central bank said it had been looking into cryptocurrencies as legal tender. Sudarshan Sen, an executive director at the Reserve Bank of India however, said the body was "not comfortable" with non-fiat cryptocurrencies, in comments reported by Reuters.

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at it's current stats-------it's worse than flip a coin. imho. stay away from it

 

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Bitcoin prices fell about 7 percent on Thursday after one of the biggest exchanges in China said it will shut down its operation.

 

The cryptocurrency traded at $3,601.40 at 7:58 a.m. in New York, far below an all-time high of $5,013.91 set earlier this month.

 

BTC China said in a tweet Thursday it will close down its operations by Sept. 30 as Chinese authorities crack down on cryptocurrencies.

 

https://www.cnbc.com/2017/09/14/bitcoin-is-...is-closing.html

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stay freaking away from this crazy thingy... :thumbdown:

once dropped below 3k i guess people will really panic by then...

 

 

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Blockchain is uniquely robuste.

 

Distributed ledger is a fair system and until today nobody onowa how to manipulate it.

What is still missing is the full integration in our daily lives as a transaction means.

The number of wallets is growing the number of transactions is growing.

Just that it is hardly impossible to start spending crypto currency anywhere yet.

Many global players are working hard to introduce this as a product to there clients.

 

Jp morgan will do everything to try to stop this and lobby all central banks and federal reserve.

Claiming that it is a threat to government control on money supply and wealth.

Believe me that behind the scenes jp morgan is working hard to hedge and eventually create their own virtual currency.

 

Virtual currencies will not go away.

For the moment it is just an investment or even speculative thing.

In the future it will be somewhere between an investment and a currency.

Just like 3D printing it will never go away despite some industry gets disrupted.

 

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This month the only pure-play, ASX-listed ATM operator, Stargroup STL, signed a joint venture with the blockchain company DigitalX (DCC) to provide two-way bitcoin ATMs.

 

There are now fewer than 20 bitcoin ATMs nationally and most of them only allow one-way purchases (adding the currency to a digital wallet, not selling it for ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“realÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ money).

 

Bitcoin ATM conversion fees are a chunky 4-8 per cent of the transaction. At the midpoint, thatÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s about $300 per transaction.

 

But while pocketing $300 is more compelling than reaping $2.40 on a normal ATM transaction, few bitcoin transactions take place. For the time being.

Tim Boreham
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A first-of-its-kind investment product focused on ethereum is now open to investors on the Nasdaq Stockholm exchange.

 

Announced today, CoinShares, headed by former JPMorgan Chase trader Daniel Masters, is launching an exchange-traded note (ETN) for ether, the cryptocurrency that powers the ethereum blockchain. With the news, the ETN joins CoinShares's original bitcoin ETN offering, launched in 2015, in bringing a well-used mechanism from traditional markets to the world of cryptocurrency.

https://www.coindesk.com/ethereum-first-inv...asdaq-exchange/
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Must be time to start dumping bitcoins.

Got an unsolicited email from CXMIN offering exclusive insight into becoming a BITCOIN multi-millionaire.

A link to a video extolling the virtues of Bitcoin investing.

Now into the third phase of a bubble.

When the lemmings and taxi drivers start investing, the big boys get out.

Mick

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