Quote from: Mike Christ on December 11, 2013, 01:31:40 AM

I'm curious about this profession; what does day trading provide to society?

Ultimately each person trying to make profit from trading btc has to invest fiat into it. And every penny invested in btc - raises btc value, enlarges it's market cap.

And the other thing - day trading helps balance price over different exchanges. I sometimes make an arbitrage trade, if it covers fees and +- risk.

Somewhere deep inside I may hate day traders, bots, and other stuff but that's really just envy talking. There's no 'fair' way to this system, it should and will balance itself in the end.

Funny thing - day traders invested in btc are drawn by it's volatility (also it's easy to get in, unlike buying real stocks). Take those swings away, price settles in one place,day traders become uninterested, cash out, which causes another drop and it's starts to swing again. Full circle.

Quote from: Inedible on December 11, 2013, 02:07:07 AM

I don't get the day-trader hate.
Should they not be allowed to buy and sell Bitcoin at any rate they choose?

Exactly.