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Saturday October 21, 2017

Bitcoin Trading Attracts Wall Street Professionals

Bitcoin01

Image by TraderTim via Flickr

An unlikely star came out of a May Gawker story revealing an underground drug website: the Bitcoin.  The decentralized digital currency that approximates cash has recently grown to a phenomenon, spawning derivatives trading and attracting the attention of Wall Street investors.  One investor, whom BetaBeat referred to as “Bill,” described the Bitcoin trading as Wall Street 15 to 20 years ago, with “fragmented markets, wide spread, manipulation, the trading stone ages.”

Exchanges have sprung up in a number of countries, so Bitcoins can represent U.S. dollars, euros, yen, and even Chilean pesos.  The downside to this completely unregulated online economy is that the possibility exists that a bitcoin exchange can unexpectedly disappear, as BetaBeat found exploring the disappearance of MyBitcoin.com.

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  • Anonymous

    Bitcoins are the wild west of money. Fortunes are made and lost, and are sometimes stolen. That said, the currency holds great potential. Already, tens of thousands of goods are being bought and sold using the currency (see live feeds at searchbitcoin and other sites). That is more than facebook can say about their made-up-money system. 

  • I now know two hedge funds investing in bitcoin. Check: http://bsi.sentikator.com they have much info on hedge funds investing in bitcoin.

  • Anonymous

    Just curious “Bitcoin exchange websites are known to unexpectedly disappear, taking
    the coins with them”
    I have never heard of this I understand the risk that it MAY happen, but this articles claims that it has happened more then once already!? Any referenses to this claim?

    • Anonymous

      duly noted. See new clarification at end of the post

  • Anonymous

    I believe that bitcoins are going to change the world. I recommend that everyone read up about them. They are a very dangerous investment, but the long-term payoff could be huge.

    If you are interested in buying/selling bitcoins, I personally use and recommend http://www.tradehill.com – they have lower fees than the main exchange (mtgox), and their website seems more professional IMHO.

    Also, I have a code that will get you 10% off trading fees at TradeHill for life: TH-R1168

    Enjoy!

  • Anonymous

    I believe that bitcoins are going to change the world. I recommend that everyone read up about them. They are a very dangerous investment, but the long-term payoff could be huge.

    If you are interested in buying/selling bitcoins, I personally use and recommend http://www.tradehill.com – they have lower fees than the main exchange (mtgox), and their website seems more professional IMHO.

    Also, I have a code that will get you 10% off trading fees at TradeHill for life: TH-R1168

    Enjoy!

  • Mybitcoin wasn’t an exchange though, just a way to store coins online…

    • Anonymous

      I am out of office through Friday, 8/19. If urgent, contact gina@trylonSMR.com.