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bitcoin has cleared 10$ level ! a 120% appreciation since the start of this thread ! perhaps its going through a phase of bubble, perhaps its gaining its actual market value slowly ! Either way, there is no point in fighting the tape ! Here is how I make sense of this issue without much of math & theory: If I could see there is net order flow to
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am serious ! what makes you think am trolling !? http://www.youtube.com/watch?v=sv-bGxhrkKg&feature=player_detailpage The question came after watching that video.
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competition is good, but what if it creates an arms race, where both parties have to run twice as faster to stay at the same place ! Take the case of HFT (High Frequency Trading), people spend billions of $$$ just to shave off few milli seconds. Do you guys think this armsrace in HFT is productive and adds value or it has completely lost the sight of
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Guys, what do you guys think about plethora of cryptocoins (bitcoin, solidcoin, litecoin, namecoin etc.), I don't see any economists in the development panel of these cryptocoins. Some have an upper limit (eg: bitcoin has 21 million) and some don't have any (eg: solidcoin)... although I hope cryptocurrencies to take off but am am not convinced
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Once again, a voluntary trade takes place because both parties expect that what they are getting from the trade will bring them more satisfaction than what they are giving up. My conclusions about what will happen to the price of what I am selling or buying after the transaction takes place are not necessarily relevant. I get it ! people have different
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"as if that's what you had been saying all along" yes... we have been saying the same thing. The problem is you took my usage of the word 'betting' as exact equivalent of 'gambling' and assume I have been seeing trading as 'gambling'... I have been consistent and clearly defined what I mean by 'betting'
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"Just because two parties take opposite sides of a bet, and one party wins where another loses, it doesn't necessarily mean "one guy knew better than the other." When someone flips a fair coin and you call heads where someone else calls tails, and it lands heads...does that mean you "knew better"? You "knew" something
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"a) You're the one who compared (i.e. likened) speculative trading to "betting" (i.e. gambling). I'm the one who said they aren't the same. Now you're acting as though the opposite were true." Gambling is something where we can't *CONTROL* our profits and losses (i.e manage our risks), a genious or retard will
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@John Just like poker champs, i am quite sure, guys who stays long in business and manage to take consistent profits belong to the class of people 'who knew better than others'. Poker and speculation don't belong to 'gambling' so if someone survives long enough with decent profits and risk management, they totally deserve the credit
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@John I think "Basic premise of trading is: one guy knows better than the other, so the actor takes responsibility for the risk." still holds, if one looks the trading as betting. In betting the loser pays the winner.. Perhaps I should have clearly stated it as 'speculative trading' instead of normal 'trading'. If you take