Bitcoin: Die News des Jahres 2020 – kommt der Bitcoin für ...

Litecoin mining!

Since the litecoin community is growing, I've decided to introduce /litecoinmining, a place for all discussion revolving mining litecoins!
[link]

So you want in on bitcoin?

Guide for Noobs

Simple and Not A Lot of Money

Guide for Not Noobs

Less Simple

-setup an account on coinbase.com, move dollars into your account, setup an account on gdax.com (same company, same login), move your cash from coinbase to gdax, buy your coins on GDAX at Market, fees are cheaper 0.25% versus 1.5%
-consider buying alternative coins supported by coinbase

No Fees

-all of the above but use GDAX's Limit/Buy, zero fees, but you have to wait for the market to dip below your buy price

More Money Available

-setup several Limit/Buy orders at different price points to capture dips when you are away

More Control but More Complex

-it's possible coinbase could go out of business, move some or most of your coins to a personal hardware wallet like a Trezor or Ledger Nano S, made in Czech Republic and France respectively
-consider using other exchanges with different fees and coin support
-consider buying other alternative coins supported by other exchanges

You Are Very Responsible

-create a paper wallet, put it in a safe, be warned it's like a visual bearer instrument, if you lose it or someone takes a picture of it...it's gone, but you have complete control over your money/asset

DO NOT EVER

-buy more than you can lose, it's early wild west days, the market could easily come crashing down
-panic sell, the market fluctuates regularly by 20%, thus far it has ALWAYS recovered, people that try to sell during a fall/dip and buy at the bottom usually miss time it and lose
-store your keys on your computer or phone unless its small amount, these are the two most vulnerable routes to hacking and simple hardware failure resulting in loss
-attempt to daytrade and time the best prices unless your real life job is day trading
-get addicted to watching the market, pay attention watch for dips, but don't let it crowd out your work or free time
-keep a LOT of cash or coin in an exchange, it is very easy to mistype and buy or sell far more than you meant to, exchanges can disappear with your coins
-buy a hardware wallet from anyone other than the company who makes it, i.e. do not buy one on Amazon, it is possible some third person hacked it and could steal your coin

PROBABLY DON'T

-limit sells until the far future when market volatility is down, flash crashes have happened and recovered, if you had all your coin in limit sells it would be gone
-margin trade unless your real life job is day trading
-stop buys or stop sells unless your real life job is day trading

DO

-hold your coins, your coin may be worth x10 or more in value in the future, e.g. if bitcoin replaced gold, bitcoin would be worth ~x70 the current value
-buy small amounts over time DCA, this might not seem intuitive but it spreads your risk out, reduces risk of buying at all time highs (ATH) and more likely to catch lows (dips), a fluctuation of $100 in price is small if the eventual value is worth x10 or more in the future
-keep a small amount of cash on an exchange always, when there is a lot of traffic/trading which happens during dips, you are much more likely to be able to make trades on an exchange rather than with your own wallet

REMEMBER

-if you don't have your coin in your own wallet, it's not your coin. this is not a problem until you have a lot of value and you want to keep it safe from a bankruptcy, unscrupulous people/exchanges, or unforeseen acts. if it's a small amount compared to your income it's an acceptable risk, if not then move it to a wallet
-in the days of fake news not everything you read is true, in fact there are armies of people shilling for 'pick a random coin'; some are malicious, some uninformed, and some willfully uninformed
-if your value starts to become large, dig deep into how your asset/currencies work just like you would for any other purchase, understanding how it works helps you understand if it will be a success, e.g. understand the difference between PoW vs PoS or what a hard fork is
-some coins especially newer ones are scams, a good indication of if it is not a scam is how long the coin has been around
-most bitcoin hard forks so far have not been successful with some exceptions
-btc is the accepted short-name for bitcoin on most (but not all) exchanges, xbt is also common in EUR-land

Other Risks

-holding your own coin requires personal responsibility, it is easy to lose and not be able to recover it if you are not careful
-again, do not buy more coin than you can lose
-transaction speeds which are slow are a serious problem in bitcoin scaling
-there is less innovation and more argument going on in bitcoin than some other coins, bitcoin is large enough that consensus is difficult, future change is less likely than with some other coins, there are other side solutions to bitcoins problems that may not require bitcoin to change much
-bitcoin.org IS the generally accepted bitcoin website, NOT bitcoin.com
-important other risks compiled by themetalfriend
-coinbase has insurance up to $250k USD for you USD Wallet which DOES NOT cover your bitcoins or other crypto currencies, they claim to have separate insurance for your crypto currency but it is unclear how much

Community

there are a lot of memes
-hodl, GameKyuubi mistyped hold and it spread
-to the moon, where everyone hopes the price will go
-coin on a rollercoaster, it is highly volitile market you will see this during fluctuations
-this is gentlemen, via Liquid_child , here
-lambo/roadster, a car people want to buy when they get rich
-the cost of pizza, early days someone bought a pizza for 10,000btc which is worth over ~80million USD today
-tesla/vehicle with a bitcoin chart, cytranic posted a picture that spread
-intersting guide by stos313 , here. I do not agree with everything but it has a lot of useful information.

CORRECTIONS

Edit: Adding in user comments.
Edit: Crosslinking to a more Beginner Version.
Edit: Note in an earlier edit of this guide I said.
note that most of the development on bitcoin is by employees of one company, it is open source but their priorities may not align with the community
This is not true. Blockstream appears to have a high representation but not an overwhelming amount. You can compare blockstream's employee page and bitcoin's commits in the last year. Thank you to lclc_ , trilli0nn , and Holographiks for pointing this out. See this for a detailed break down.
Edit: Clarification that FDIC insurance does NOT cover crypto currency/assets.
Edit: Clarity on who owns bitcoin.org

Good Luck and Hodl.

Please comment if your experience is different. Or call out things I missed.
submitted by cryptocurrencypeople to Bitcoin [link] [comments]

The Great Bitcoin Bull Market Of 2017 by Trace Mayer

By: Trace Mayer, host of The Bitcoin Knowledge Podcast.
Originally posted here with images and Youtube videos.
I just got back from a two week vacation without Internet as I was scouring some archeological ruins. I hardly thought about Bitcoin at all because there were so many other interesting things and it would be there when I got back.
Jimmy Song suggested I do an article on the current state of Bitcoin. A great suggestion but he is really smart (he worked on Armory after all!) so I better be thorough and accurate!
Therefore, this article will be pretty lengthy and meticulous.
BACKGROUND
As I completely expected, the 2X movement from the New York Agreement that was supposed to happen during the middle of my vacation flopped on its face because Jeff Garzik was driving the clown car with passengers willfully inside like Coinbase, Blockchain.info, Bitgo and Xapo and there were here massive bugS and in the code and miners like Bitmain did not want to allocate $150-350m to get it over the difficulty adjustments.
I am very disappointed in their lack of integrity with putting their money where their mouths are; myself and many others wanted to sell a lot of B2X for BTC!
On 7 December 2015, with Bitcoin trading at US$388.40, I wrote The Rise of the Fourth Great Bitcoin Bubble. On 4 December 2016, with Bitcoin trading at US$762.97, I did this interview:

As of 26 November 2017, Bitcoin is trading around US$9,250.00. That is an increase of about 2,400% since I wrote the article prognosticating this fourth great Bitcoin bull market. I sure like being right, like usual (19 Dec 2011, 1 Jul 2013), especially when there are financial and economic consequences.
With such massive gains in such a short period of time the speculative question becomes: Buy, Hold or Sell?
FUNDAMENTALS
Bitcoin is the decentralized censorship-resistant Internet Protocol for transferring value over a communications channel.
The Bitcoin network can use traditional Internet infrastructure. However, it is even more resilient because it has custom infrastructure including, thanks to Bitcoin Core developer Matt Corrallo, the FIBRE network and, thanks to Blockstream, satellites which reduce the cost of running a full-node anywhere in the world to essentially nothing in terms of money or privacy. Transactions can be cheaply broadcast via SMS messages.
SECURITY
The Bitcoin network has a difficulty of 1,347,001,430,559 which suggests about 9,642,211 TH/s of custom ASIC hardware deployed.
At a retail price of approximately US$105/THs that implies about $650m of custom ASIC hardware deployed (35% discount applied).
This custom hardware consumes approximately 30 TWh per year. That could power about 2.8m US households or the entire country of Morocco which has a population of 33.85m.
This Bitcoin mining generates approximately 12.5 bitcoins every 10 minutes or approximately 1,800 per day worth approximately US$16,650,000.
Bitcoin currently has a market capitalization greater than $150B which puts it solidly in the top-30 of M1 money stock countries and a 200 day moving average of about $65B which is increasing about $500m per day.
Average daily volumes for Bitcoin is around US$5B. That means multi-million dollar positions can be moved into and out of very easily with minimal slippage.
When my friend Andreas Antonopolous was unable to give his talk at a CRYPSA event I was invited to fill in and delivered this presentation, impromptu, on the Seven Network Effects of Bitcoin.
These seven network effects of Bitcoin are (1) Speculation, (2) Merchants, (3) Consumers, (4) Security [miners], (5) Developers, (6) Financialization and (7) Settlement Currency are all taking root at the same time and in an incredibly intertwined way.
With only the first network effect starting to take significant root; Bitcoin is no longer a little experiment of magic Internet money anymore. Bitcoin is monster growing at a tremendous rate!!

SPECULATION
For the Bitcoin price to remain at $9,250 it requires approximately US$16,650,000 per day of capital inflow from new hodlers.
Bitcoin is both a Giffen good and a Veblen good.
A Giffen good is a product that people consume more of as the price rises and vice versa — seemingly in violation of basic laws of demand in microeconomics such as with substitute goods and the income effect.
Veblen goods are types of luxury goods for which the quantity demanded increases as the price increases in an apparent contradiction of the law of demand.
There are approximately 16.5m bitcoins of which ~4m are lost, ~4-6m are in deep cold storage, ~4m are in cold storage and ~2-4m are salable.
(http://www.runtogold.com/images/lost-bitcoins-1.jpg)
(http://www.runtogold.com/images/lost-bitcoins-2.jpg)
And forks like BCash (BCH) should not be scary but instead be looked upon as an opportunity to take more territory on the Bitcoin blockchain by trading the forks for real bitcoins which dries up more salable supply by moving it, likely, into deep cold storage.
According to Wikipedia, there are approximately 15.4m millionaires in the United States and about 12m HNWIs ($30m+ net worth) in the world. In other words, if every HNWI in the world wanted to own an entire bitcoin as a 'risk-free asset' that cannot be confiscated, seized or have the balance other wise altered then they could not.
For wise portfolio management, these HNWIs should have at least about 2-5% in gold and 0.5-1% in bitcoin.
Why? Perhaps some of the 60+ Saudis with 1,700 frozen bank accounts and about $800B of assets being targetted might be able to explain it to you.
In other words, everyone loves to chase the rabbit and once they catch it then know that it will not get away.
RETAIL
There are approximately 150+ significant Bitcoin exchanges worldwide. Kraken, according to the CEO, was adding about 6,000 new funded accounts per day in July 2017.
Supposedly, Coinbase is currently adding about 75,000 new accounts per day. Based on some trade secret analytics I have access to; I would estimate Coinbase is adding approximately 17,500 new accounts per day that purchase at least US$100 of Bitcoin.
If we assume Coinbase accounts for 8% of new global Bitcoin users who purchase at least $100 of bitcoins (just pulled out of thin error and likely very conservative as the actual number is perhaps around 2%) then that is approximately $21,875,000 of new capital coming into Bitcoin every single day just from retail demand from 218,750 total new accounts.
What I have found is that most new users start off buying US$100-500 and then after 3-4 months months they ramp up their capital allocation to $5,000+ if they have the funds available.
After all, it takes some time and practical experience to learn how to safely secure one's private keys.
To do so, I highly recommend Bitcoin Core (network consensus and full validation of the blockchain), Armory (private key management), Glacier Protocol (operational procedures) and a Puri.sm laptop (secure non-specialized hardware).
WALL STREET
There has been no solution for large financial fiduciaries to invest in Bitcoin. This changed November 2017.
LedgerX, whose CEO I interviewed 23 March 2013, began trading as a CFTC regulated Swap Execution Facility and Derivatives Clearing Organization.
The CME Group announced they will begin trading in Q4 2017 Bitcoin futures.
The CBOE announced they will begin trading Bitcoin futures soon.
By analogy, these institutional products are like connecting a major metropolis's water system (US$90.4T and US$2 quadrillion) via a nanoscopic shunt to a tiny blueberry ($150B) that is infinitely expandable.
This price discovery could be the most wild thing anyone has ever experienced in financial markets.
THE GREAT CREDIT CONTRACTION
The same week Bitcoin was released I published my book The Great Credit Contraction and asserted it had now begun and capital would burrow down the liquidity pyramid into safer and more liquid assets.
(http://www.runtogold.com/images/Great-Credit-Contraction-Liquidity-Pyramid.jpg)
Thus, the critical question becomes: Is Bitcoin a possible solution to the Great Credit Contraction by becoming the safest and most liquid asset?
BITCOIN'S RISK PROFILE
At all times and in all circumstances gold remains money but, of course, there is always exchange rate risk due to price ratios constantly fluctuating. If the metal is held with a third-party in allocated-allocated storage (safest possible) then there is performance risk (Morgan Stanley gold storage lawsuit).
But, if properly held then, there should be no counter-party risk which requires the financial ability of a third-party to perform like with a bank account deposit. And, since gold exists at a single point in space and time therefore it is subject to confiscation or seizure risk.
Bitcoin is a completely new asset type. As such, the storage container is nearly empty with only $150B.
And every Bitcoin transaction effectively melts down every BTC and recasts it; thus ensuring with 100% accuracy the quantity and quality of the bitcoins. If the transaction is not on the blockchain then it did not happen. This is the strictest regulation possible; by math and cryptography!
This new immutable asset, if properly secured, is subject only to exchange rate risk. There does exist the possibility that a software bug may exist that could shut down the network, like what has happened with Ethereum, but the probability is almost nil and getting lower everyday it does not happen.
Thus, Bitcoin arguably has a lower risk profile than even gold and is the only blockchain to achieve security, scalability and liquidity.
To remain decentralized, censorship-resistant and immutable requires scalability so as many users as possible can run full-nodes.
(http://www.runtogold.com/images/ethereum-bitcoin-scability-nov-2017.png)
TRANSACTIONS
Some people, probably mostly those shilling alt-coins, think Bitcoin has a scalability problem that is so serious it requires a crude hard fork to solve.
On the other side of the debate, the Internet protocol and blockchain geniuses assert the scalability issues can, like other Internet Protocols have done, be solved in different layers which are now possible because of Segregated Witness which was activated in August 2017.
Whose code do you want to run: the JV benchwarmers or the championship Chicago Bulls?
As transaction fees rise, certain use cases of the Bitcoin blockchain are priced out of the market. And as the fees fall then they are economical again.
Additionally, as transaction fees rise, certain UTXOs are no longer economically usable thus destroying part of the money supply until fees decline and UTXOs become economical to move.
There are approximately 275,000-350,000 transactions per day with transaction fees currently about $2m/day and the 200 DMA is around $1.08m/day.
(http://www.runtogold.com/images/bitcoin-transaction-fees-nov-2017.png)
What I like about transaction fees is that they somewhat reveal the financial health of the network.
The security of the Bitcoin network results from the miners creating solutions to proof of work problems in the Bitcoin protocol and being rewarded from the (1) coinbase reward which is a form of inflation and (2) transaction fees which is a form of usage fee.
The higher the transaction fees then the greater implied value the Bitcoin network provides because users are willing to pay more for it.
I am highly skeptical of blockchains which have very low transaction fees. By Internet bubble analogy, Pets.com may have millions of page views but I am more interested in EBITDA.
DEVELOPERS
Bitcoin and blockchain programming is not an easy skill to acquire and master. Most developers who have the skill are also financially independent now and can work on whatever they want.
The best of the best work through the Bitcoin Core process. After all, if you are a world class mountain climber then you do not hang out in the MacDonalds play pen but instead climb Mount Everest because that is where the challenge is.
However, there are many talented developers who work in other areas besides the protocol. Wallet maintainers, exchange operators, payment processors, etc. all need competent developers to help build their businesses.
Consequently, there is a huge shortage of competent developers. This is probably the largest single scalability constraint for the ecosystem.
Nevertheless, the Bitcoin ecosystem is healthier than ever before.
(http://www.runtogold.com/images/bitcoin-ecosystem.jpg)(/images/bitcoin-ecosystem-small.jpg)
SETTLEMENT CURRENCY
There are no significant global reserve settlement currency use cases for Bitcoin yet.
Perhaps the closest is Blockstream's Strong Federations via Liquid.
PRICE
There is a tremendous amount of disagreement in the marketplace about the value proposition of Bitcoin. Price discovery for this asset will be intense and likely take many cycles of which this is the fourth.
Since the supply is known the exchange rate of Bitcoins is composed of (1) transactional demand and (2) speculative demand.
Interestingly, the price elasticity of demand for the transactional demand component is irrelevant to the price. This makes for very interesting dynamics!
(http://www.runtogold.com/images/bitcoin-speculation.jpg)
On 4 May 2017, Lightspeed Venture Partners partner Jeremy Liew who was among the early Facebook investors and the first Snapchat investor laid out their case for bitcoin exploding to $500,000 by 2030.
On 2 November 2017, Goldman Sachs CEO Lloyd Blankfein (https://www.bloomberg.com/news/articles/2017-11-02/blankfein-says-don-t-dismiss-bitcoin-while-still-pondering-value)said, "Now we have paper that is just backed by fiat...Maybe in the new world, something gets backed by consensus."
On 12 Sep 2017, JP Morgan CEO called Bitcoin a 'fraud' but conceded that "(http://fortune.com/2017/09/12/jamie-dimon-bitcoin-cryptocurrency-fraud-buy/)Bitcoin could reach $100,000".
Thus, it is no surprise that the Bitcoin chart looks like a ferret on meth when there are such widely varying opinions on its value proposition.
I have been around this space for a long time. In my opinion, those who scoffed at the thought of $1 BTC, $10 BTC (Professor Bitcorn!), $100 BTC, $1,000 BTC are scoffing at $10,000 BTC and will scoff at $100,000 BTC, $1,000,000 BTC and even $10,000,000 BTC.
Interestingly, the people who understand it the best seem to think its financial dominance is destiny.
Meanwhile, those who understand it the least make emotionally charged, intellectually incoherent bearish arguments. A tremendous example of worldwide cognitive dissonance with regards to sound money, technology and the role or power of the State.
Consequently, I like looking at the 200 day moving average to filter out the daily noise and see the long-term trend.
(http://www.runtogold.com/images/bitcoin-price-200dma-nov-2017.png)
Well, that chart of the long-term trend is pretty obvious and hard to dispute. Bitcoin is in a massive secular bull market.
The 200 day moving average is around $4,001 and rising about $30 per day.
So, what do some proforma situations look like where Bitcoin may be undervalued, average valued and overvalued? No, these are not prognostications.
(http://www.runtogold.com/images/bitcoin-price-pro-forma.png)
Maybe Jamie Dimon is not so off his rocker after all with a $100,000 price prediction.
We are in a very unique period of human history where the collective globe is rethinking what money is and Bitcoin is in the ring battling for complete domination. Is or will it be fit for purpose?
As I have said many times before, if Bitcoin is fit for this purpose then this is the largest wealth transfer in the history of the world.
CONCLUSION
Well, this has been a brief analysis of where I think Bitcoin is at the end of November 2017.
The seven network effects are taking root extremely fast and exponentially reinforcing each other. The technological dominance of Bitcoin is unrivaled.
The world is rethinking what money is. Even CEOs of the largest banks and partners of the largest VC funds are honing in on Bitcoin's beacon.
While no one has a crystal ball; when I look in mine I see Bitcoin's future being very bright.
Currently, almost everyone who has bought Bitcoin and hodled is sitting on unrealized gains as measured in fiat currency. That is, after all, what uncharted territory with daily all-time highs do!
But perhaps there is a larger lesson to be learned here.
Riches are getting increasingly slippery because no one has a reliable defined tool to measure them with. Times like these require incredible amounts of humility and intelligence guided by macro instincts.
Perhaps everyone should start keeping books in three numéraires: USD, gold and Bitcoin.
Both gold and Bitcoin have never been worth nothing. But USD is a fiat currency and there are thousands of those in the fiat currency graveyard. How low can the world reserve currency go?
After all, what is the risk-free asset? And, whatever it is, in The Great Credit Contraction you want it!
What do you think? Disagree with some of my arguments or assertions? Please, eviscerate them on Twitter or in the comments!
submitted by bitcoinknowledge to Bitcoin [link] [comments]

Reminder this is r/stock and not a crypto sub; feedback welcomed.

The reason why we have a rule against crypto discussions is because this is stocks where we discuss stocks.
Last year we had a surge of comments that were literally "buy bitcoin" in almost every single post on stocks, and it wasn't just a single comment, sometimes you would find 10 users stating the exact same thing, "buy bitcoin" or going into details on how to mine bitcoins; this is spam & off topic.
Also Bitcoin is not a stock, just like discussing buying & reselling sneakers is not a stock, these discussions are off topic and that reason alone was enough to remove posts & comments. Unfortunately this wasn't enough, so we created a rule (see sidebar) against discussing crypto with a link to a sub where you could; we also made an automod rule to deal with this.
If you want to discuss investing in general, you can go to investing, which is mentioned in the sidebar (on mobile by tapping "about this community"). If you want to discuss crypto & mining you can go to CryptoCurrency.
Below is the automod message I wrote, please give me your criticism & feedback on this. I made it informative to deal with some misconceptions & misinformation (including GPU mining).
You can also see that when a stock is related to crypto, I've whitelisted that stock (including this post) so you can discuss crypto as long as that discussion is related to the stock (or this post), so it's not 100% removal; it also only affects top level comments:
Sorry your comment (link to comment) in /stocks was automatically removed as per rule 6: Bitcoins & cryptocurrenies should be discussed in CryptoCurrency.
This probably only affects your comment if it was a top level suggestion. Keep in mind this is stocks and people come here for stock suggestions.
We've whitelisted some discussions on crypto, but not all such as bitcoin & crypto holding ETFs and futures (explanation below). However we allow crypto discussions on the following: Coinbase IPO, Square INC, Overstock, XNET, MARA, GCAP, NVDA, AMD, and Kodak; this list will always be updated (see below to what won't be included).
A list of the rules can be found here, and if you're new to stocks please see the wiki and/or read this post.
If you're just wondering if cryptocoins are an investment, read here.
Please note:
Thanks for understanding.
Again this post is whitelisted so you can mention any crypto related keyword (as long as it deals with this post), and please provide your feedback which will help me whitelist more stocks/keywords; again keep in mind this is stocks.
Update: Based on feedback I updated the bullet point regarding the size of crypto market vs stock market, thanks u/yourslice
Update2: Based on information provided by u/mike_996, I'm whitelisting NVDA & AMD against crypto related keywords. However I'll be making a 2nd rule that'll remove "how to mine" type questions w/ a message that contains links to sub reddits on mining.
submitted by provoko to stocks [link] [comments]

Bitmex Options Shenanigans

This post is a look at the recently released Bitmex Up and Down contracts and the lack of clarity around them and the issues that has caused. There will be a little bit of maths and options terminology, but I'll do my best to try to keep it simple.

Background and Contract Specification

Bitmex released the Weekly Up Contract (XBT7D_U110) for live trading on the 30th Apr, with the Weekly Down contract (XBT7D_D90) coming later, on the 14th May. Both contracts are essentially European style options contracts (with the addition of a knock out price for the Down Contract), which settle weekly on Fridays.
This was an interesting development on the part of Bitmex. They made 2 posts on their blog (1, 2) explaining the situation. Although, the blog posts weren't posted on the website announcement feed nor (to my knowledge) on their twitter, so many people (including myself) missed them.
While the contracts came with the usual Bitmex explanation of specification and example, what struck me was the fact that:
  1. Throughout the whole contract guide there wasn't a single reference to "Options", despite that being the nature of the contacts.
  2. Traders aren't allowed to short them - "Only the BitMEX anchor market maker can be net short".
(Full screen shots of the guides as of 15th May 2018 can be found at the bottom of the article)
We now have the issue of a contract that many traders will have no idea how to price, that is consequently trading over 10x higher than fair value, and only the market makers are allowed to short.

Options pricing and Fair Value

The Up contract is equivalent to a European style options call, while the Down contract is a slightly modified European options put. Options contracts give the buyer the right (but not obligation) to buy (call) or sell (put) at the given strike price on the settlement time (European style).
European style options contracts are generally prices using the Black-Scholes model, which is used to calculate the fair price of a contract along with measures of its sensitivity to various factors such as underlying price and volatility (known as Greeks).
Options Fair Pricing vs Current Pricing
At time of writing the Up contract (XBT7D_U110) last trade price is 0.00300 BTC (~$25.57), with 2.89 days until expiry. The Bitmex historical volatility index is currently 54.15%, strike price is $9500 and Bitcoin is $8530.
The black-scholes calculator suggests that the fair price is actually $1.916. And that is the calculation for a 1 Bitcoin contract. Where as the Bitmex contracts represent 0.1 XBT each. Making the fair value $0.1916, rather than the current $25.57. Which is a bit insane.
What if we use a higher value of volatility for our calculations, will the price be a bit more reasonable? Similar contracts trading on a different exchange have an implied volatility of ~75% annualised. This gives a fair value of $1.351 for each Up contract.
I've also occasionally seen Bitcoin volatility reach up to 120% or higher. This value still gives a fair value of $7.870.
In other words, even by the craziest stretch, the Bitmex contracts are trading way higher than their fair value - and only the Bitmex designated market makers are allowed to short.

Options profit outlook

Now, what if the contracts were trading at fair value, what is the probability that the options would actually expire "In the money" (payout not zero).
One of the "Greeks" calculated under the black-scholes model, Delta, is generally used as a measure of exposure to the underlying asset, but can also be used as a probability that the option will expire in the money.
The absolute of Delta (non negative value) gives said probability. A call contract with Delta 0.75 has a 75% chance of expiring ITM. A put contract with a delta of -0.3 has a 30% chance of expiring ITM.
Probability of expiring In the Money
So, what are the chances of our Up and Down contracts expiring ITM? The Up contract's ticker is "XBT7D_U110", meaning that it expires every 7 days and its strike is placed at 110% of the trading price at the start of the trading period.
Again looking at the Bitmex volatility index at 54.15%, the Delta of this contract over 7 days comes to 0.1087, only an 11% chance of expiring in the money. 75% volatility gives Delta at 0.1933 and 120% gives Delta 0.3119. Not the best bet however you look at it.
For the Down contracts its even worse, with Delta being -0.07458 (7.458%), -0.1431 and -0.2367 for 54.15%, 75% and 120% volatility respectively.
The likelihood that any of these contracts actually pays out any money is rather stacked against the trader. And, as I've mentioned before, only the designated market makers are allowed to short these contracts to collect the price premium.

Are Options ever worth it?

Options trading is a wide and very mathematical discipline to master. When contracts are traded fairly (with reasonable pricing and without restrictions) options trading can be very profitable and allow all sorts of novel trades, such as betting on volatility.
However, in its current state, I personally wouldn't touch the Bitmex Up and Down contracts with a 10 foot pole. They are over priced and restricted from the ability to short. I have seen Bitmex as a generally reputable exchange in the past, however situations like this make be question that assessment.

Contract Guide Screenshot

I tried to archive the Bitmex contract guides with both archive.fo/ and archive.org/web/, however neither worked, so I used web-capture.net/ for screenshots instead. The full screen shots can be found here: Up Contracts, Down Contracts.

Disclaimer

This does not constitute professional financial investment advice.

Reddit Notes

My original blog post with nicer formatting can be found here.
I'm also happy to take constructive criticism and amend the post if necessary.
edit: Thanks to happy__hippo for pointing out the Bitmex posts about the contracts. I've amended the article to reflect this.
submitted by matt2048 to BitcoinMarkets [link] [comments]

Bloomberg: Bitcoin Coverage Nov. 13

Hey all, I was watching bloomberg in the background as usual and bitcoin has been on a lot recently. I've always liked bloomberg as the last respectable major news source (no CNN/Fox/etc) for political coverage, and always good market and macro news to track. Anyway, they did a short special with bitcoin today, so I was interested to hear the coverage. Here's my transcription:
Interview
[Hosted by Julie Hyman and Mark Barton]
Mark: A steep slide in bitcoin seems to be over today, since last week the community opting not to increase blocksize which speeds up transactions, which sent some investors to a bigger block alternative (XBT 1 wk $7.8k - $5.6k chart) with bitcoin dropping 29% from its peak on Wednesday morning, it's been climbing back up.
[introducing Ed robinson, European tech reporter]
Mark: It's not for the faint hearted - trading bitcoin, is it?
Ed: No indeed, and we've known that for some time, but these last few days have been hyper volatile.
Mark: And it's been hyper volatile with bitcoin cash. So tell us just what bitcoin cash is, and why it's taken center stage in the last week or so.
Ed: Bitcoin Cash is a new entrant that forked off the original bitcoin in August, and what the bitcoin community is trying to do right now is to solve this problem of scalability. They need bitcoin to process transactions faster, they need them to process more volume in transactions, and this is key to its growth. So there is a community that created bigger block sizes, and by that i mean it can process more transactions faster than the traditional bitcoin, and they hived off and formed this new entity called bitcoin cash.
Julie: but...it- so uh.. wh... hahaha. I'm just trying to wrap my head around all this. But bitcoin cash is still bitcoin right? It's just... a different way of trading it? Is it an entirely new cryptocurrency?
Ed: Well right, it's - they're two sides of the same coin. Bitcoin cash is processing (that's the blockchain, the underlying database software) that's processing transactions in a different way than the original bitcoin. So that's why we've had what's called a fork - that's the separation between the two, but by and large between the two - i mean they're now traded as separate coins (you can buy each separately), but they really amount to the same thing.
Julie: Uh, all of this gets to the same thing which really gets to one of the central challenges with bitcoin which Lionel Leblanc points out in his column today, that it's governance by committee. you have this community that decided to hive off, and the decisions for bitcoin are made by community. How does this work for example if there were to be a split of bitcoin, i mean who makes these decisions?
Ed: It's unprecedented. It is governance by community. It reminds me of "The Well" - "The Well" was this ancient chatroom that was set up in northern California before the internet took hold. It's a very organic, community-driven style of decision making. As you can imagine, debate flourishes in this kind of format. But ultimately what we see is that the science wins out. Bitcoin has established itself as a viable currency or entity (cf note below), so they're working with something that is functional, but there's all manner of different opinions and debates taking place.
Mark: Which is reflected in this chart since June. We've has 3 sizable declines, 39%, 39%, and 29% as of this morning. But every time, it seems to be viewed as a buying opportunity?
Ed: That's what it's shown so far - if you look at the middle one, that's when china outlawed initial coin offerings, a lot of investors freaked out and said "OMG there's gonna be this massive crackdown," there was a lot of selling... it didn't last very long did it? The next leg up was very fast, 80% over 6 days off the September lows.
Mark: That's it for now, thanks...
interview ends and they move on
Note: Fast forward 20 minutes as I type this, bitcoin is indeed being mentioned along with the USD-JPY trade and high-yield bonds as a legitimate asset transmitting market information (risk appetite in this case).
submitted by jeanduluoz to BitcoinMarkets [link] [comments]

[uncensored-r/BitcoinMarkets] Bloomberg: Bitcoin Coverage Nov. 13

The following post by jeanduluoz is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ BitcoinMarkets/comments/7co95l
The original post's content was as follows:
Hey all, I was watching bloomberg in the background as usual and bitcoin has been on a lot recently. I've always liked bloomberg as the last respectable major news source (no CNN/Fox/etc) for political coverage, and always good market and macro news to track. Anyway, they did a short special with bitcoin today, so I was interested to hear the coverage. Here's my transcription:
Interview
[Hosted by Julie Hyman and Mark Barton]
Mark: A steep slide in bitcoin seems to be over today, since last week the community opting not to increase blocksize which speeds up transactions, which sent some investors to a bigger block alternative (XBT 1 wk $7.8k - $5.6k chart) with bitcoin dropping 29% from its peak on Wednesday morning, it's been climbing back up.
[introducing Ed robinson, European tech reporter]
Mark: It's not for the faint hearted - trading bitcoin, is it?
Ed: No indeed, and we've known that for some time, but these last few days have been hyper volatile.
Mark: And it's been hyper volatile with bitcoin cash. So tell us just what bitcoin cash is, and why it's taken center stage in the last week or so.
Ed: Bitcoin Cash is a new entrant that forked off the original bitcoin in August, and what the bitcoin community is trying to do right now is to solve this problem of scalability. They need bitcoin to process transactions faster, they need them to process more volume in transactions, and this is key to its growth. So there is a community that created bigger block sizes, and by that i mean it can process more transactions faster than the traditional bitcoin, and they hived off and formed this new entity called bitcoin cash.
Julie: but...it- so uh.. wh... hahaha. I'm just trying to wrap my head around all this. But bitcoin cash is still bitcoin right? It's just... a different way of trading it? Is it an entirely new cryptocurrency?
Ed: Well right, it's - they're two sides of the same coin. Bitcoin cash is processing (that's the blockchain, the underlying database software) that's processing transactions in a different way than the original bitcoin. So that's why we've had what's called a fork - that's the separation between the two, but by and large between the two - i mean they're now traded as separate coins (you can buy each separately), but they really amount to the same thing.
Julie: Uh, all of this gets to the same thing which really gets to one of the central challenges with bitcoin which Lionel Leblanc points out in his column today, that it's governance by committee. you have this community that decided to hive off, and the decisions for bitcoin are made by community. How does this work for example if there were to be a split of bitcoin, i mean who makes these decisions?
Ed: It's unprecedented. It is governance by community. It reminds me of "The Well" - "The Well" was this ancient chatroom that was set up in northern California before the internet took hold. It's a very organic, community-driven style of decision making. As you can imagine, debate flourishes in this kind of format. But ultimately what we see is that the science wins out. Bitcoin has established itself as a viable currency or entity (cf note below), so they're working with something that is functional, but there's all manner of different opinions and debates taking place.
Mark: Which is reflected in this chart since June. We've has 3 sizable declines, 39%, 39%, and 29% as of this morning. But every time, it seems to be viewed as a buying opportunity?
Ed: That's what it's shown so far - if you look at the middle one, that's when china outlawed initial coin offerings, a lot of investors freaked out and said "OMG there's gonna be this massive crackdown," there was a lot of selling... it didn't last very long did it? The next leg up was very fast, 80% over 6 days off the September lows.
Mark: That's it for now, thanks...
interview ends and they move on
Note: Fast forward 20 minutes as I type this, bitcoin is indeed being mentioned along with the USD-JPY trade and high-yield bonds as a legitimate asset transmitting market information (risk appetite in this case).
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Bits, bitcoin, and SI units. Can I make a humble suggestion? (Long text trying to find peace.)

Personally, I'm undecided on the question of whether we should switch to "bits". Also, I believe, it's not my decision to make. New words come up when people use things. (The word for device I'm typing on changes once per year: workstation, computer, laptop, notebook, netbook, ultrabook. It's a thin 12" quad-core running linux, so the words all more or less correct.)
I'll offer a few points for discussion to see whether we can agree:
  1. There exists both technical language and colloquial day-to-day language. Technical language aims to be accurate, non-ambiguous, and standardized. SI units (those in the actual SI documents) are good examples. Everyone agrees what they mean (up to 7 digits of precision). Also, they have the same meaning independent of context. I can travel, talk to people from different disciplines and a metre is still a metre. When in doubt, there are established procedures to check who is right. Technical units also mean the same thing in every language (to the degree possible, Americans may prefer to spell "meter", which can also be a device to measure things).
  2. Everyday language develops from practical use and differs based on context. Sometimes, everyday language is derived from technical language (a "10k" run). Sometimes, it is not (a "marathon"). Whether you understand what a "10k" is depends on context. All European countries and languages use units derived from SI. However, different groups use a different subset of SI and different linguistic shortcuts. In Austria, you buy "10 Deka" of minced meat (meaning 10 deca gram, a valid SI unit). In Germany (same language, next door, open borders, a lot of cross-border trade), you will be starred at like an alien using this term.
  3. Bitcoin, according to the official-looking wiki has to many confusing units already to be practically useful. I never got the significance of tonal bitcoin. Also the "SI-like" (powers of ten based) ones are to much.
  4. When, it comes to bitcoin, we need both a technical language and a colloquial language. The latter will develop, depend on context, and change over time. (It is totally likely that we, satoshi millionaires, will use a different language than satoshi peasants colloquially.) The technical language's aim is to be precise, logical and stable (= must never change). For technical purposes, I believe 1 BTC (or XBT or bitcoin or ฿) is the best bed for the base unit with power-of-1000 SI prefixes as quantifiers: MBTC (not m), kBTC (not K), BTC, mBTC, µBTC (uBTC if you have to). It doesn't get simpler than that. Personally, I want my bank statement or invoice written in technically language (but YMMV). Colloquially, I can live with millis (meaning mBTC), but I can't see any variation of µBTC working in practice (although 1 micron = 1µm is commonly used spoken language e.g. for the wavelength of light (slightly less then 1 micron)).
  5. I live and breath SI, but one down-side of SI is that you cannot add SI prefixed to units with SI prefixes. (kg is a SI base unit. So it's tempting to write "1k kg" or "1Mg" (both are non-standard and never used) while "1 t" (metric tonne) is correct, but not logical.) We have the same problem with mBTC (or bits): We cannot say "I have 1k millis" (or "1M bits" or "1m bits") without breaking the system that defines mBTC in the first place. This is not a small nuisance, this is a huge problem, because, here, trying to invent colloquial terms breaks the technical language. With the technical language broken, we fail to define what those colloquial terms mean. Thus, everything will always be confusing for everyone with no clear path to recovery.
  6. 1 bits seems to be the most likely consensus for a colloquially-used term. This is perfect, as long as we, the bitcoin "experts", understand:
I like prices that look like 1.99 bits. I can live with 1999 bits, but I need to be damn sure what 1 bit exactly is.
tl;dr:
 Technical Colloquial Definition 1 MBTC ? 1 000 000 BTC 1 BTC 1 bitcoin 1 BTC 1 mBTC ? 0.001 BTC 1 µBTC 1 bit 0.000001 BTC ? 1 satoshi 0.00000001 BTC 
Does this make sense?
submitted by arbeitslos to Bitcoin [link] [comments]

New Bitcoin Derivative: BitcoinETI

Morning,
Another bitcoin product has launched, the BitcoinETI (ticker: BTCETI). I tend to prefer fundamental trading and analysis to TA, so here's my meta-contribution that has no analysis.
Regulatory Framework
The ETI is incorporated in Gibraltar and will trade on GSX, the Gibraltar stock exchange. It is also cross-listed on the Frankfurt Stock Exchange (owned by Deutsche Borse Group) and will trade under the same ticker. Interestingly, the Frankfurt exchange is ranked the 10th largest equity exchange by market cap, at $1.75B. As a side note, Deutsche Borse is merging with The London Stock Exchange group, which is the 3rd largest stock exchange at $6.1B and only trailing the NYSE and Nasdaq. Either way, this is the largest market that a bitcoin product has traded on yet.
Listing the ETI on the Gibraltar Stock Exchange enables sales of the instrument across all 33 countries of the European Economic Area (EEA).
Issuance
iStructure PCC PLC issued the BitcoinETI, following a partnership between a number of stakeholders that includes the Gibraltar government and companies including regional Fintech firm and sponsor Revoltura Limited. The Financial Services Commission, Gibraltar’s financial regulator is also among the partners resulting in the issuance of the Bitcoin-based ETI.
Now for some editorialization and clarification:
  1. ETI - Exchange traded instrument
  2. ETP - Exchange traded Product (synonymous with ETI)
  3. ETF - Exchange traded Fund
  4. ETN - Exchange traded note
I haven't quite seen the structure of this product, but I assume it will be an ETN (exchange traded note). If it was an ETF, it would be much bigger news. We already have an ETN or two, but no ETFs. They function similarly, but an ETN is debt (a note), whereas an ETF is equity in the actual, underlying asset. As a result, an ETN is still subject to credit risk; the ETN's operator basically generates assets, to which you have claim to with the company's debt you own (the ETN). So if they go bankrupt, you are a creditor. By contrast, an ETF is actual equity in the platform.
Market Snapshot of Bitcoin Products
GBTC: Over-The-Counter, open-fund share of bitcoin trading on OTCQX issued by Grayscale. This is not an exchange, but a private facilitator of peer-to-peer exchanges. Functionally, it is an exchange, but not as far as regulatory bodies are concerned, leading to lower costs for listing companies. It is also not an exchange product, but more like a public hedge fund or mutual fund. 174,530 BTC under management, 2% annual fee.
Swedish ETNs: Shares issued by XBT Provider (swedish company), publicly traded on Nasdaq OMX, the nordic exchange group purchased by Nasdaq in 2007. There are actually 2 bitcoin products here, not 1: Bitcoin tracker one and bitcoin tracker Euro. Recently, Jersey-based Global Advisors (asset management firm, run by Daniel Masters, ex-husband of Blythe) acquired XBT Provider. it has a crazy fee structure. Not clear how many BTC under management - Global Advisors buys more BTC as they sell more ETN shares. Someone could calculate it, but i'm supposed to be working right now. The shares continue to trade on OMX. 2.5% annual fee.
Gibraltar ETI: See Above
Winklevoss ETF: Recently moved to BATS exchange, a huge commodity exchange. Pending approval.
SolidX ETF: Recently filed for NYSE exchange.
Gibraltar Announcement: https://www.gsx.gi/article/8292/gibraltar-stock-exchange-welcomes-bitcoineti
submitted by jeanduluoz to btc [link] [comments]

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curve,.,bitcoin,.,miners,.,gh/s,.,bitcoin,.,th/s,.,bitcoin,.,th/s,.,bitcoin,.,miner,.,mh/s,.,bitcoin,.,1th/s,.,bitcoin,.,miner,.,10th/s,.,bitcoin,.,miner,.,20th/s,.,bitcoin,.,miner,.,bitcoin,.,trading,.,bitcoin,.,to dollar,.,bitcoin,.,transaction,.,bitcoin,.,to £,.,bitcoin,.,ticker,.,bitcointalk,.,bitcoin,.,transaction fee,.,bitcoin,.,t shirt,.,bitcoin,.,t shirt uk,.,bitcoin,.,t shirt india,.,bitcoin,.,t shirt store,.,alpha-t,.,bitcointalk,.,bb&t,.,bitcoin,.,t-110,.,bitcoin,.,mining system,.,bitcoin,.,miner t720,.,bitcoin,.,usd,.,bitcoin,.,uk,.,bitcoin,.,unlimited,.,bitcoin,.,unconfirmed transaction,.,bitcoin,.,usd price,.,bitcoin,.,uk price,.,bitcoin,.,uasf,.,bitcoin,.,uk tax,.,bitcoin,.,update,.,bitcoin,.,uk exchange,.,why u,.,bitcoin,.,billionaire,.,bitcoin,.,u bosni,.,bitcoin,.,miner.u,.,bitcoin,.,u crnoj gori,.,bitcoin,.,youtube,.,bitcoin,.,u dinarima,.,wii u,.,bitcoin,.,utorrent,.,bitcoin,.,u.s.,.,bitcoin,.,exchange,.,bitcoin,.,u kune,.,bitcoin,.,value,.,,.,bitcoin,.,value 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chart,.,bitcoin,.,year,.,bitcoin,.,yield,.,bitcoin,.,ytd,.,bitcoin,.,yubikey,.,bitcoin,.,yoda,.,bitcoin,.,yahoo finance chart,.,ybitcoin,.,magazine,.,bitcoin,.,y control de cambio,.,y combinator,.,bitcoin,.,ecuador y,.,bitcoin,.,bitcoin,.,by paypal,.,bitcoin,.,y el lavado de dinero,.,bitcoin,.,y deep web,.,bitcoin,.,y lavado de dinero,.,bitcoin,.,y litecoin,.,bitcoin,.,and blockchain,.,bitcoin,.,zebra,.,bitcoin,.,zerohedge,.,bitcoin,.,zimbabwe,.,bitcoin,.,zar,.,bitcoin,.,zcash,.,bitcoin,.,zapwallettxes,.,bitcoin,.,zarabianie,.,bitcoin,.,zug,.,bitcoin,.,zero,.,bitcoin,.,zero confirmations,.,bitcoin,.,z value,.,titan z,.,bitcoin,.,mining,.,titan z,.,bitcoin,.,z cash,.,bitcoin,.,nvidia titan z,.,bitcoin,.,mining,.,nvidia titan z,.,bitcoin,.,nakup zlata z,.,bitcoini,.,sklep z,.,bitcoinami,.,trgovanje z,.,bitcoini,.,co z,.,bitcoinem,.,bitcoin,.,0 confirmations,.,bitcoin,.,0.1,.,bitcoin,.,0.1.0,.,bitcoin,.,0 active connections,.,bitcoin,.,0 transaction fee,.,bitcoin,.,0 fee,.,0.15,.,bitcoins,.,0 25,.,bitcoins,.,0.05,.,bitcoin,.,in euro,.,bitcoin,.,2.0,.,0.1,.,bitcoins,.,0.21,.,bitcoins,.,bitcoin,.,1st august,.,bitcoin,.,1 million,.,bitcoin,.,101,.,bitcoin,.,10 year chart,.,bitcoin,.,10000,.,bitcoin,.,148,.,,.,bitcoin,.,10 year prediction,.,bitcoin,.,100k,.,bitcoin,.,100 dollars,.,bitcoin,.,10 years ago,.,1,.,bitcoin,.,in gbp,.,1,.,bitcoin,.,in pounds,.,1,.,bitcoin,.,in £,.,1,.,bitcoin,.,to dollar,.,1,.,bitcoin,.,in inr,.,1,.,bitcoin,.,to euro,.,1,.,bitcoin,.,in gdp,.,1,.,bitcoin,.,in eur,.,1,.,bitcoin,.,to myr,.,1,.,bitcoin,.,in sterling,.,bitcoin,.,2010,.,bitcoin,.,2017,.,bitcoin,.,2020,.,bitcoin,.,2018,.,bitcoin,.,2009,.,bitcoin,.,2013,.,bitcoin,.,21 million,.,bitcoin,.,2012,.,bitcoin,.,2014,.,2,.,bitcoin,.,to usd,.,2,.,bitcoin,.,price,.,2,.,bitcoin,.,to inr,.,2,.,bitcoin,.,wallets,.,2,.,bitcoins to dollars,.,2,.,bitcoins free,.,2,.,bitcoins a month,.,2,.,bitcoin,.,qt,.,bitcoin,.,2 year chart,.,bitcoin,.,2 paypal,.,bitcoin,.,3000,.,bitcoin,.,31st july,.,bitcoin,.,3 confirmations,.,bitcoin,.,3.0,.,bitcoin,.,3 year chart,.,bitcoin,.,3 month chart,.,bitcoin,.,300,.,bitcoin,.,365 club,.,bitcoin,.,3000 usd,.,bitcoin,.,30 confirmations,.,3,.,bitcoins in gbp,.,3,.,bitcoins,.,3,.,bitcoins to usd,.,3,.,bitcoin,.,in euro,.,3,.,bitcoin,.,to eur,.,bitcoin,.,3 unlimited,.,bitcoin,.,3 day chart,.,bitcoin,.,3 address,.,bitcoin,.,4000,.,bitcoin,.,4chan,.,bitcoin,.,4 billion,.,bitcoin,.,401k,.,bitcoin,.,4 backpage,.,bitcoin,.,43,.,bitcoin,.,40000,.,bitcoin,.,4k,.,bitcoin,.,4 year chart,.,bitcoin,.,48,.,4,.,bitcoins,.,4,.,bitcoins to usd,.,4,.,bitcoins in gbp,.,4,.,bitcoin,.,to eur,.,bitcoins 4 backpage,.,bitcoin,.,4 igaming,.,bitcoin,.,4 u,.,bitcoin,.,4 november,.,bitcoin,.,4 cash,.,bitcoin,.,5 year chart,.,bitcoin,.,51 attack,.,bitcoin,.,500,.,bitcoin,.,5 year,.,bitcoin,.,500 000,.,bitcoin,.,5000,.,bitcoin,.,50000,.,bitcoin,.,5 year price,.,bitcoin,.,5 years ago,.,bitcoin,.,5 year forecast,.,5,.,bitcoins in pounds,.,5,.,bitcoins,.,5,.,bitcoins to usd,.,5,.,bitcoin,.,free,.,5,.,bitcoin,.,in euro,.,bitcoin,.,5 years,.,bitcoin,.,5 minutes,.,bitcoin,.,5 min,.,bitcoin,.,5 unlimited generator,.,bitcoin,.,666,.,bitcoin,.,6 months,.,bitcoin,.,6 confirmations,.,bitcoin,.,6 month chart,.,bitcoin,.,6000,.,bitcoin,.,60 minutes,.,bitcoin,.,6 confirmations time,.,bitcoin,.,6 month price,.,bitcoin,.,6 years ago,.,bitcoin,.,60 day chart,.,6,.,bitcoin,.,network confirmations,.,,.,
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Bitcoin Live Btc Price Trading Chart Watch: - YouTube

Bitcoin Live Btc Price Liquidation Watch 24/7 Bitcoin Currency Bitcoin is a cryptocurrency. It is a decentralized digital currency without a central bank or single administrator that can be sent ... Bitcoin Live Btc Price Trading Chart Watch 24/7 Bull vs Bear Pump or Dump Bitcoin Currency Bitcoin is a cryptocurrency. It is a decentralized digital currency without a central bank or single ... ISO 4217 codes: BTC, XBT Bitcoin is a cryptocurrency created in 2009. Marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. BITCOIN TRADING BOT (28 marzo del 2018) - BitcoinBotTradingVip BOT TRADING BTC, DASH, LTC, ETH 2 HORAS DE TRANSMISIÓN EN VIVO! 26 MARZO 2018 HD DE APARTIR DE AQUI ES SPAM Bitcoin - Dinero P2P de ... Bitcoin Live Btc Price Trading Chart Watch Bull vs Bear Pump or Dump Bitcoin Currency Bitcoin is a cryptocurrency. It is a decentralized digital currency...

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