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Virtual currencies, Blockchain bitcoin
mullokintyre
post Posted: Jul 17 2020, 09:08 AM
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Is high frequency trading killing Bitcoin??
From Cointelegraph


QUOTE
The Bitcoin (BTC) market has been quiet lately. A little too quiet.

As of Tuesday Bitcoin’s volatility levels had dropped to levels unseen since 2017. In recent weeks, Bitcoin has fallen behind as investors piled into altcoins such as Chainlink (LINK) and Cardano (ADA) .

One possible explanation for Bitcoin’s consolidation may be an increased presence of high-frequency trading (HFT) firms in crypto in recent months. Speaking to Cointelegraph, Paolo Ardoino, CTO of Bitfinex explained that he believes HFT is a major reason behind Bitcoin’s low volatility. In crypto, we are back to the old days of HFT before it became the zero-sum game that it has become today. In crypto HFT firms can make a lot of money deploying relatively straightforward plays, such as cross-exchange arbitrage and exploiting the spread between one exchange and another.”

HFT is a trading method that uses algorithms to transact a large number of orders in fractions of a second. It has existed in the cryptocurrency space for a long time. But just as billionaire Paul Tudor Jones revealed his Bitcoin holdings recently, other institutional investors are increasingly joining the market. This may explain the greater use of HFT.

Bitfinex, which claims to be “huge for HFT in crypto”, recently revealed that between 80 percent and 90 percent of volume on Bitfinex was now generated by HFT firms. Bitfinex partnered with Market Synergy and has been offering “institutional standard cryptocurrency connectivity.” Bitfinex concludes the growing use of HFT represents increasing “maturity in the digital asset space”. But why would Bitcoin volatility go down with increased use of HFT? Ardoino explains the increased liquidity due to the surge of HFT tradings leads to low volatility:

“As Bitcoin becomes an established asset class, we anticipate the high levels of volatility associated with cryptocurrency to recede,” he explained. “There is generally an inverse correlation between liquidity and volatility; i.e., higher liquidity tends to lead to lower price volatility.”


Mick



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Said 'Thanks' for this post: Pendragon  
 
mullokintyre
post Posted: Jul 2 2020, 08:46 PM
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As a corrollary to the article below, one of the ways to change a currency is to eliminate the Physical, and only allow Electronic funds to exist.
Lots of places here in OZ aee asking customers not to use cash, and to pay via card.
There are some suggestions that in the US at least, the COVID pandemic is being used as a smokescreen to implement a no physical currency.
From Zerohedge

QUOTE
The coin shortage in the United States is becoming quite severe, and a lot of people are deeply concerned about where this might be leading us. But if you don’t run a business or deal with coins on a regular basis, you may not even know that it is happening. On Monday, my wife told me that a lot of people on Facebook were talking about this nationwide coin shortage, and then on Tuesday Ricky Scaparo posted a couple of news stories about it, so I decided that I better start looking into this. Because if this coin shortage is going to be used to push us toward a cashless society, that makes it a really big What I discovered is that this coin shortage has actually been intensifying for quite a few weeks, and on June 11th the Federal Reserve issued a statement in which they announced that coin rationing would begin on June 15th…
Consequently, effective Monday, June 15, Reserve Banks and Federal Reserve coin distribution locations began allocating coin inventories. To ensure a fair and equitable distribution of existing coin inventory to all depository institutions, effective June 15, the Federal Reserve Banks and their coin distribution locations began to allocate available supplies of pennies, nickels, dimes, and quarters to depository institutions as a temporary measure. The temporary coin allocation methodology is based on historical order volume by coin denomination and depository institution endpoint, and current U.S. Mint production levels. Order limits are unique by coin denomination and are the same across all Federal Reserve coin distribution locations. Limits will be reviewed and potentially revised based on national receipt levels, inventories, and Mint production.


Just a matter of time.
Mick



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mullokintyre
post Posted: Jul 2 2020, 05:24 AM
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My Favourite blogger chuck butler had this gem in todays pfenning
QUOTE
QUOTE



Ok, a quick perusal through Twitter yesterday found this little ditty… First the Tweet, then my take, ok?
“The #BISInnovationHub is pleased to announce a strategic partnership with
@federalreserve
@NewYorkFed
to further the development of fintech initiatives for the global financial system" - from Twitter 6/30/20

OK… for those of you not following along in class previously… Remember when I told you that all the crypto currencies didn’t mean a thing in the long run, because once the Gov’t came out with their version of a C.C. it was all over for the other guys… Well, now you have to the two most powerful Central Banks in the world, (the Fed & BIS) joining together to come up with their own C.C…. Go ahead and laugh you Bicoiners… The last laugh will be on you! You see the steps that I laid out for you on how this current financial system will all come to and end, come together, and you start to think... "Hey, maybe Chuck was onto something"...


Mick



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Said 'Thanks' for this post: nipper  early birds  
 
early birds
post Posted: Jun 3 2020, 07:59 PM
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In Reply To: mullokintyre's post @ Jun 3 2020, 07:25 PM

told my brother to buy some , if it hit the market.

crime rate in China is really really low compare to anywhere on earth, because surveillance camera is everywhere.
dictatorship , forget about so called "dem crazy, " or whatever that is. that is the way they lives , seems most of them are happy with it. unsure.gif
talking about adaptation !

as people say-----------every family have a shity story to tell!! wink.gif

for the currency -----------i would buy some as it backed by a legit Govt, although it is commie! speculate it, i reckon it will be better than paper money at least to say!!






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mullokintyre
post Posted: Jun 3 2020, 07:25 PM
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China is the first cab of the rank to launch a digital currency, as a digital Yuan will be released next year to replace physical currency.
From RT Com

QUOTE
The People’s Bank of China has revealed plans to have its sovereign digital currency ready in time for the 2022 Winter Olympics. The announcement comes as the Covid-19 pandemic has accelerated a shift away from paper money.
Limited trials are already underway in Shenzhen, Suzhou, Chengdu and the Xiongan New Area in the northern province of Hebei, said the central bank’s governor Yi Gang. He told reporters that China’s government plans to run pilot tests at Olympic venues, though there remains no official timetable for a release.

An unnamed member of the State Council with knowledge of the project told the Nikkei Asia Review that If the government is satisfied with the results of this year's tests, the currency “will be issued next year.” Otherwise, “more tests will be conducted next year,” he said.
The digital yuan will be linked to the holder's smartphone number, with transactions taking place through an app. Users will be able to transfer money between accounts by tapping phones, much like having physical cash change hands. The currency will be legal tender, so it could be exchanged without needing a bank as an intermediary.

The size of transactions would be limited based on identity verification. A phone number alone would permit only small transactions, while providing proof of identity or a photo of a debit card would raise the limit. Speaking with a bank representative in person could allow for the cap to be removed entirely. Suspected criminal activity will be uncovered via transaction histories.

According to Eddie Yue, chief executive of the Hong Kong Monetary Authority, it has become easier to use and popularize new payment technologies since growing coronavirus concerns make consumers prefer digital currencies to physical cash.


Hmm, like the bit about suspected criminal activity will be uncovered by transaction histories.
In China, criminal activity can vary from day to day.
great way to silence dissenters.

mick



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mullokintyre
post Posted: May 24 2020, 07:30 PM
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In Reply To: royco's post @ May 12 2020, 11:32 PM

Royco, I think you should view this youtube. unsure.gif

Bitcoin Billionaire

Mick




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royco
post Posted: May 12 2020, 11:32 PM
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In Reply To: mullokintyre's post @ May 12 2020, 09:33 PM

The value is in the blockchain and the distributed ledger, the crypto part is used to make sure the integrity of the blockchain is kept intact and the fact that it is distributed means no single entity (like a government) can mess with the numbers. Like the libor scandal and an endless string of bigger or smaller scams.

Integrity and trust in a counterpart of an economic transaction and in the currency has extremely high value.
That is why BTC is still here after 11 years, the code is tangible/visible and the coins can be used to pay for real things. Before long the fiat -currencies were also holding tangible value in gold of the actual coin or by gold reserves kept by the central bank but those days are far behind us.









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mullokintyre
post Posted: May 12 2020, 09:33 PM
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In Reply To: nipper's post @ May 12 2020, 09:08 PM

Its one of many conundrums.
I could never really understand why what they call mining (the solving of complex maths) , is anything but a scam.
They produce nothing tangible, use more and more resources to "mine" them, and the rewards get smaller ovee time.
It is such a great pity that the genius of The blockchain technology was not used in creating something a little more worthwhile.
Mick



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nipper
post Posted: May 12 2020, 09:08 PM
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In Reply To: nipper's post @ May 11 2020, 11:45 AM

and herein lies the conundrum (there are other crypto's)
QUOTE
Bitcoin has just gone through a much-hyped adjustment that reduced the rate at which new coins are created. The world's biggest cryptocurrency's so-called "halving" happens roughly every four years.The digital currency relies on what are known as "miners", who run software that races to solve complex maths puzzles in return for Bitcoins.

Monday's halving event means that the reward for unlocking a "block" has been cut from 12.5 new coins to 6.25.

Halving was written into the cryptocurrency's code by its creator, who is known as Satoshi Nakamoto, to control inflation.

This is the third halving since Bitcoin's creation in 2009. The first took place in November, 2012, and the second in July 2016. The next halving is due to take place in May 2024.

Bitcoin's code also means that rewards to miners will continue to halve every 210,000 blocks until they reach zero in around two decades' time, limiting the total number of Bitcoins that will ever exist to 21 million. This is because - unlike currencies such as the dollar, pound or euro - digital currencies have no central banks to regulate their supply.

Supporters of the cryptocurrency say that this scarcity is part of what underpins its value and makes it a potential safe haven against currencies that are vulnerable to devaluation during times of economic crisis.

The digital currency has gained more than 20% since the start of this year, touching $10,000 last week. That came after a report that hedge fund manager Paul Tudor Jones has backed the cryptocurrency as a safeguard against inflation. However some investors have highlighted that halving could make the cryptocurrency less attractive to miners. "The incentive is less for miners now to mine Bitcoin. Miners will probably switch to more profitable cryptocurrencies," Stephen Innes from AXI Corp told the BBC.



- and what about inflation? What does that mean?



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: May 11 2020, 11:45 AM
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Paul Tudor Jones has come out with a worry list about THE GREAT MONETARY INFLATION

QUOTE
COVID-19 is a one-of-a-kind virus that has triggered a one-of-a-kind policy response globally. The depth and magnitude of the economic drop-off took modern monetary theory, or the direct monetization of massive fiscal spending, from the theoretical to practice without any debate.

A. Debt Addiction
B. Money Printing is a Hard Habit to Kick
C. Seeking Refuge from the Great Monetary Inflation

There is a host of assets that at one time or another have worked well in reflationary periods:
1. Gold ... A 2,500 year store of value
2. The Yield Curve ... Historically a great defense against stagflation or a central bank intent on inflating. For our purposes we use long 2-year notes and short 30-year bonds
3. NASDAQ100 ... The events of the last decade have shown that quantitative easing can rapidly leak into equity markets
4. Bitcoin ... There is a lengthy discussion of this below
5. US cyclicals (long)/US defensive (short) ... A pure goods’ inflation play historically
6. AUD-JPY ... Long commodity exporter and short commodity importer
7. TIPS (Treasury Inflation-Protected Securities) ... Indexed to CPI to protect against inflation
8. GSCI (Goldman Sachs Commodity Index) ... A basket of 24 commodities that reflects underlying global economic growth
9. JPM Emerging Market Currency Index ... Historically when global growth is high and inflationary pressures are building, emerging market currencies have done quite well.

https://www.docdroid.net/H1fuimX/the-great-...y-inflation-pdf

In seeking refuge, he grades these "Stores of Value" with 4 characteristics
1. Purchasing Power
2. Trustworthiness
3. Liquidity
4. Portability

and Bitcoin does surprisingly well. Of course, assuming THE GREAT MONETARY INFLATION



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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