Bitcoin Exchange Bombarded By Another Massive Cyber AttackFox BusinessThe cyber attack helped drive the value of one Bitcoin to as low as $115 overnight, representing a 22% decline from its peak of about $145 on Wednesday, according to bitcoincharts.co…
|
Bitcoin Exchange Bombarded By Another Massive Cyber AttackFox BusinessThe cyber attack helped drive the value of one Bitcoin to as low as $115 overnight, representing a 22% decline from its peak of about $145 on Wednesday, according to bitcoincharts.com. Bitcoin quickly recovered, climbing back above $140 in recent trading. |
Bitcoin ATMs coming soonCNNMoneyBitcoin, a virtual currency that was created four years ago, has generated tons of media attention in the past few weeks. The value of Bitcoins has surged in the wake of the botched bailout and mini-bank run in Cyprus an…
|
Bitcoin ATMs coming soonCNNMoneyBitcoin, a virtual currency that was created four years ago, has generated tons of media attention in the past few weeks. The value of Bitcoins has surged in the wake of the botched bailout and mini-bank run in Cyprus and concerns about the health of ...and more » |
I love when things go from impossibly improbable to real in just a few months. Take the latest offerings at Butterfly Labs, for example (I’ll list them here for your convenience). These little bitcoin miners start at 4.5 GH/s and top off their ha…
I love when things go from impossibly improbable to real in just a few months.
Take the latest offerings at Butterfly Labs, for example (I’ll list them here for your convenience). These little bitcoin miners start at 4.5 GH/s and top off their hashrates at 1500 GH/s. When you run the numbers with the current bitcoin prices for April 2013, the profit from these miners can range from part-time job income to Greecian Isle shopping spree.
A Starbucks barista could enjoy the toils of making espresso drinks 20 hrs a week then work on building a new island civilization on the side.
By Jon Matonis
Forbes
Thursday, March 28, 2012
http://www.forbes.com/sites/jonmatonis/2013/03/28/tradehill-exchange-adds-dark-pools-of-bitcoin-liquidity/
This week the bitcoin exchange Tradehill launches dark liquidity, or
dark pools, for client institutions and individuals that do not want to
reveal their trading size and identity. In trading on dark pools, market participants have the ability to execute large block trades without adversely impacting the price in either direction.
Based in San Francisco, Tradehill Inc. has relaunched successfully as
a business-to-business bitcoin exchange for institutional investors and
individuals qualifying as accredited investors. The original Tradehill
founded by CEO Jered Kenna in 2011 had operations in the U.S. and Chile
and maintained a consistent second position in daily trading volume
after Mt. Gox.
Offering both a transparent open order book and a dark order book, the Tradehill service Prime
will be critical for both large investors on the buy side, such as
funds and institutions, and commercial participants on the sell side,
such as merchant processors and bitcoin mining operators.
As “liquidity” and “market impact” can be synonymous in
many cases, the market impact, especially on price, is a key
consideration for those larger institutions that are regularly shifting
assets between financial markets. If a large trade is executed
incorrectly, the market impact can be several percentage points in
addition to the typical transaction costs of commission and/or spread.
“Whether you’re trying to sell a large amount of bitcoin above
market, or trying to buy without losing your shirt to slippage, dark
orders on the Prime platform provide an important tool for larger
traders,” said Kenna.
In one week, over 100 new accredited investors signed up for
Tradehill Prime. The company requires a $10,000 minimum initial deposit
(in bitcoin equivalent or U.S. dollars) and dark orders will be priced
in BTC, trading in micro-lots of $1,000. New clients also receive a $75 account credit to test the integrated trading platform on the open order book.
Tradehill is a U.S-based exchange that falls within the definition of
FinCEN’s regulations for virtual currency exchange operators.
“Bitcoin’s primary use is value transmission and financial technology in
the U.S. is a very regulated space,” according to Tradehill COO Ryan
Singer. The company has anticipated this regulation and the recent
guidance from FinCEN “really helps the startups in the space build a
compliance game plan,” he added.
In offering dark pools of bitcoin liquidity within an exchange
infrastructure, institutional clients gain the benefits of anonymity and
non-display of orders but without losing any of the efficiencies
associated with trading on an exchanges’ public order books. With
bitcoin, it is difficult to gauge how much large-block trading occurs
off a publicly visible exchange. By comparison, research firm Tabb Group estimates that off-exchange and dark pool trading in the U.S. equity markets accounted for 32% of trades in 2012.
Emma Quinn, AllianceBernstein’s Head of Asia Pacific Trading for equities, says
” We use dark pools to access liquidity for orders we would not
normally place in the central limit order book. I think dark pools aid
price discovery. There has to be post-trade transparency but once that
happens you’ve actually got more transparency on a market than you
normally would.”
MIT Professor of Finance Haoxiang Zhu agrees with that assessment writing that “dark pools can improve price discovery in open exchanges.” He also said,
“Adding a dark pool alongside an exchange tends to concentrate
price-relevant information into the exchange and improve price
discovery. Improved price discovery coincides with reduced exchange
liquidity.”
This is precisely where the Bitcoin market needs to be heading and it
is a necessary prerequisite for Bitcoin’s evolving role in global
trade. Wholesale trading exchanges like Tradehill Prime represent an
evolution from the floating-rate and fixed-rate retail exchanges. They
can also be considered a precursor to bitcoin-based forex markets as well as more sophisticated derivatives markets for bitcoin futures and options.
By Jon Matonis
Forbes
Thursday, March 28, 2012
http://www.forbes.com/sites/jonmatonis/2013/03/28/tradehill-exchange-adds-dark-pools-of-bitcoin-liquidity/
This week the bitcoin exchange Tradehill launches dark liquidity, or
dark pools, for client institutions and individuals that do not want to
reveal their trading size and identity. In trading on dark pools, market participants have the ability to execute large block trades without adversely impacting the price in either direction.
Based in San Francisco, Tradehill Inc. has relaunched successfully as
a business-to-business bitcoin exchange for institutional investors and
individuals qualifying as accredited investors. The original Tradehill
founded by CEO Jered Kenna in 2011 had operations in the U.S. and Chile
and maintained a consistent second position in daily trading volume
after Mt. Gox.
Offering both a transparent open order book and a dark order book, the Tradehill service Prime
will be critical for both large investors on the buy side, such as
funds and institutions, and commercial participants on the sell side,
such as merchant processors and bitcoin mining operators.
As “liquidity” and “market impact” can be synonymous in
many cases, the market impact, especially on price, is a key
consideration for those larger institutions that are regularly shifting
assets between financial markets. If a large trade is executed
incorrectly, the market impact can be several percentage points in
addition to the typical transaction costs of commission and/or spread.
“Whether you’re trying to sell a large amount of bitcoin above
market, or trying to buy without losing your shirt to slippage, dark
orders on the Prime platform provide an important tool for larger
traders,” said Kenna.
In one week, over 100 new accredited investors signed up for
Tradehill Prime. The company requires a $10,000 minimum initial deposit
(in bitcoin equivalent or U.S. dollars) and dark orders will be priced
in BTC, trading in micro-lots of $1,000. New clients also receive a $75 account credit to test the integrated trading platform on the open order book.
Tradehill is a U.S-based exchange that falls within the definition of
FinCEN’s regulations for virtual currency exchange operators.
“Bitcoin’s primary use is value transmission and financial technology in
the U.S. is a very regulated space,” according to Tradehill COO Ryan
Singer. The company has anticipated this regulation and the recent
guidance from FinCEN “really helps the startups in the space build a
compliance game plan,” he added.
In offering dark pools of bitcoin liquidity within an exchange
infrastructure, institutional clients gain the benefits of anonymity and
non-display of orders but without losing any of the efficiencies
associated with trading on an exchanges’ public order books. With
bitcoin, it is difficult to gauge how much large-block trading occurs
off a publicly visible exchange. By comparison, research firm Tabb Group estimates that off-exchange and dark pool trading in the U.S. equity markets accounted for 32% of trades in 2012.
Emma Quinn, AllianceBernstein’s Head of Asia Pacific Trading for equities, says
” We use dark pools to access liquidity for orders we would not
normally place in the central limit order book. I think dark pools aid
price discovery. There has to be post-trade transparency but once that
happens you’ve actually got more transparency on a market than you
normally would.”
MIT Professor of Finance Haoxiang Zhu agrees with that assessment writing that “dark pools can improve price discovery in open exchanges.” He also said,
“Adding a dark pool alongside an exchange tends to concentrate
price-relevant information into the exchange and improve price
discovery. Improved price discovery coincides with reduced exchange
liquidity.”
This is precisely where the Bitcoin market needs to be heading and it
is a necessary prerequisite for Bitcoin’s evolving role in global
trade. Wholesale trading exchanges like Tradehill Prime represent an
evolution from the floating-rate and fixed-rate retail exchanges. They
can also be considered a precursor to bitcoin-based forex markets as well as more sophisticated derivatives markets for bitcoin futures and options.
Rick Falvinge – Bitcoin Poised To Change Society:
Rick Falkvinge (@RickFalkvinge) posts his view that Bitcoin can change society even more than the Internet has. Excerpts:
“We essentially have four different types of players that keep the economy going, and by extension, the government funded and operational.
One, there is the government itself, which issues money and regulates banks.
Two, there are commercial banks which are in complete control of the money flow, in exchange for sharing that insight with the government and letting it siphon off as much as it likes to operate itself.
At the bottom of the food chain are, three, corporations which are tasked with using this system, running all its operations through these banks,
and four, the ordinary citizen, who is supposed to be doing actual work and actually produce something that fuels the entire ecosystem.”
–
“What bitcoin does is cut the banks out of the loop, and by extension, the government’s ability to operate.”
– http://bit.ly/10wqNT8
– http://bitcointalk.org/index.php?topic=166432.0 (Further discussion of the article)
All News – Daily E-mail Subscription – Twitter: @BitcoinNews
Rick Falvinge – Bitcoin Poised To Change Society:
Rick Falkvinge (@RickFalkvinge) posts his view that Bitcoin can change society even more than the Internet has. Excerpts:
“We essentially have four different types of players that keep the economy going, and by extension, the government funded and operational.
One, there is the government itself, which issues money and regulates banks.
Two, there are commercial banks which are in complete control of the money flow, in exchange for sharing that insight with the government and letting it siphon off as much as it likes to operate itself.
At the bottom of the food chain are, three, corporations which are tasked with using this system, running all its operations through these banks,
and four, the ordinary citizen, who is supposed to be doing actual work and actually produce something that fuels the entire ecosystem.”
–
“What bitcoin does is cut the banks out of the loop, and by extension, the government’s ability to operate.”
– http://bit.ly/10wqNT8
– http://bitcointalk.org/index.php?topic=166432.0 (Further discussion of the article)
All News – Daily E-mail Subscription – Twitter: @BitcoinNews
Bitcoin value stumbles amid DDoS attacks, Instawallet breachZDNetThe value of the virtual currency Bitcoin has seen massive growth in the first quarter of the year, increasing in value from around US$13 on January 1 to its current price of about US$134…
|
Bitcoin value stumbles amid DDoS attacks, Instawallet breachZDNetThe value of the virtual currency Bitcoin has seen massive growth in the first quarter of the year, increasing in value from around US$13 on January 1 to its current price of about US$134. However, amid outages and distributed denial-of-service attacks ... |
