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Wondering what you all think will be the effect of the futures market on the adoption of Bitcoin in Wall St, including the time scale.
Two of the planned three Bitcoin Futures markets are starting in the next two weeks. One $100 billion hedge fund in I believe the UK has already said they will start offering direct exposure to Bitcoin once futures go online. Many financial experts expect that futures will lead to the SEC accepting Bitcoin ETFs.
Futures are a sideshow that won't affect the market. The real thing we want is direct exposure through ETFs and hedge funds. Do you think futures will lead to this and how long will it take until we have a bunch of hedge funds and approved ETFs operating in Bitcoin?
Two of the planned three Bitcoin Futures markets are starting in the next two weeks. One $100 billion hedge fund in I believe the UK has already said they will start offering direct exposure to Bitcoin once futures go online. Many financial experts expect that futures will lead to the SEC accepting Bitcoin ETFs.
Futures are a sideshow that won't affect the market. The real thing we want is direct exposure through ETFs and hedge funds. Do you think futures will lead to this and how long will it take until we have a bunch of hedge funds and approved ETFs operating in Bitcoin?
Im not sure if we want ETFs just yet... it's too early. Also there's no way an ETF is going to get approved anytime soon, every time someone has tried, they have failed. Notice that the SEC said that since Bitcoin cannot be regulated, an ETF for Bitcoin cannot pass. I don't see how Bitcoin can ever be regulated, since if it's regulated it's dead, so I don't see how we can ever have an ETF for Bitcoin.
But that's irrelevant, we don't really need an ETF to go to the moon. CME and Nasdaq futures are enough for anyone with money to get in and drive the price to the next level. Some futures don't even allow shorting, but I think CME does, so that's a risk that they may try to short. Let's see how it goes for them, I think a lot of idiots are trying to short Bitcoin and they are going to lose their money when it pumps back quickly.
But the thing about the futures is that they are cash settled, so shorting or going long in the futures doesn't matter, they're not actually buying or selling bitcoin, just betting on the price. They're not investing they're just gambling. So the futures aren't the thing we're looking for, thats just the catalyst to get Wall St interested in getting into Bitcoin.
And yeah while SEC did reject ETFs due to lack or regulation, everything I read from financial people is that a regulated futures market will advance the case of ETFs even though the futures market is entirely separate from the bitcoin market, which doesn't really make sense but hey if it makes them approve ETF I'm all for that. And I mean I don't think ETFs will be approved in the next few months, but maybe starting in the summer I could see it happen, Bitcoin marketcap might be over half a trillion by then which should be big enough for ETFs to jump in. But yeah it all comes down to if the SEC will approve them.
A futures market will accelerate the creation of an ETF because the ETF will be able to hold futures instead of having to deal with the logistical challenges of safely holding bitcoin itself.
Re: NitrogenSports.eu - SPORTSBOOK - POKER - INSTANT WITHDRAWALS
I added the bet to my slip and when I clicked the place wager button, suddenly the bet changed massively. I'm pretty disappointed because I was planning on making a large bet. I wish it would have been clear that it changed because there was no way that it did between the time of me adding it to my slip and clicking the button. I'm going to lose out a bunch on transaction fees spent buying the BTC because of this.
Thanks anyway though for getting the Pro Bowl up.
Thanks anyway though for getting the Pro Bowl up.
Re: NitrogenSports.eu - SPORTSBOOK - POKER - INSTANT WITHDRAWALS
Still wondering about the Pro Bowl. Just submitted a support ticket. Thanks!
Pockets,
Great news! Pro Bowl lines are up at http://s21.postimg.org/v0vkq5uqr/translogo.png!
Thanks,
-TJ
http://s21.postimg.org/v0vkq5uqr/translogo.png
Thanks! I'll certainly be making a wager or two on the game.
Re: NitrogenSports.eu - SPORTSBOOK - POKER - INSTANT WITHDRAWALS
I am getting prepared for the next weekend!
I want to test new betting system in soccer in nitrogen
I hope I can win some hehe
I want to test new betting system in soccer in nitrogen
I hope I can win some heheGood luck with the new system, ticoti! Hopefully it turns out a winner for you!
Thanks,
-TJ
http://s21.postimg.org/v0vkq5uqr/translogo.png
Could you please add the probowl spread and the points total? I'd really like to bet the game, but am having difficulty finding somewhere to online.
http://www.vegasinsider.com/nfl/matchups/
Also, what sort of limits would/do you have?
Thanks!
Still wondering about the Pro Bowl. Just submitted a support ticket. Thanks!
Hi Pockets,
Was just responding to you. The support team can check with our odds provider. They'd be happy to look into it for you!
Thanks,
-TJ
http://s21.postimg.org/v0vkq5uqr/translogo.png
Thanks TJ! Support was incredibly quick and very friendly! Hoping you guys can pull through on this.
Re: NitrogenSports.eu - SPORTSBOOK - POKER - INSTANT WITHDRAWALS
I am getting prepared for the next weekend!
I want to test new betting system in soccer in nitrogen I hope I can win some hehe
I want to test new betting system in soccer in nitrogen
I hope I can win some heheGood luck with the new system, ticoti! Hopefully it turns out a winner for you!
Thanks,
-TJ
http://s21.postimg.org/v0vkq5uqr/translogo.png
Could you please add the probowl spread and the points total? I'd really like to bet the game, but am having difficulty finding somewhere to online.
http://www.vegasinsider.com/nfl/matchups/
Also, what sort of limits would/do you have?
Thanks!
Re: BitBook.biz - Bitcoin sportsbook - Instant Withdrawals - Widely Trusted
prob coinbases fault
It hadn't appeared after over 29 confirmations. It's there now though.
Re: BitBook.biz - Bitcoin sportsbook - Instant Withdrawals - Widely Trusted
I made a deposit (actually 2) about 4 hours ago that still hasn't been credited to my account yet.
Here are screenshots for the larger of the two.
http://i62.tinypic.com/whczy9.png
http://i61.tinypic.com/352oig7.png
Hopefully this can be resolved quickly. Thanks.
Here are screenshots for the larger of the two.
http://i62.tinypic.com/whczy9.png
http://i61.tinypic.com/352oig7.png
Hopefully this can be resolved quickly. Thanks.
Re: BitBook.biz - Bitcoin sportsbook - Instant Withdrawals - Widely Trusted
Could you guys please add props for the Super Bowl?
Specifically I'm interested in the following (both from Bovada):
How long will it take Renee Fleming to sing the official US National Anthem?
over 2 minutes 25 seconds +100
under 2 minutes 25 seconds -140
and
What will be the temperature at Kickoff?
over 32F -120
under 32F -120
Specifically I'm interested in the following (both from Bovada):
How long will it take Renee Fleming to sing the official US National Anthem?
over 2 minutes 25 seconds +100
under 2 minutes 25 seconds -140
and
What will be the temperature at Kickoff?
over 32F -120
under 32F -120
You clearly don't know the climate very well, those odds would be kind of off. Under would be a much better bet.
At kickoff? I'll take that bet with you. Wanna find a reputable member to escrow it for us?
Re: BitBook.biz - Bitcoin sportsbook - Instant Withdrawals - Widely Trusted
Could you guys please add props for the Super Bowl?
Specifically I'm interested in the following (both from Bovada):
How long will it take Renee Fleming to sing the official US National Anthem?
over 2 minutes 25 seconds +100
under 2 minutes 25 seconds -140
and
What will be the temperature at Kickoff?
over 32F -120
under 32F -120
Specifically I'm interested in the following (both from Bovada):
How long will it take Renee Fleming to sing the official US National Anthem?
over 2 minutes 25 seconds +100
under 2 minutes 25 seconds -140
and
What will be the temperature at Kickoff?
over 32F -120
under 32F -120
Re: BitBook.biz - Bitcoin sportsbook - Instant Withdrawals - Widely Trusted
The "Popular bet" messages are what will make me leave this book. It sometimes makes it impossible to hedge Live Betting which totally
defeats the purpose in the first place to have that wagering option....
I have 6 wagers waiting to be graded from over 4 hours ago (Pro Bowl) and I've since emailed them with no reply. You have a great reputation but slowly bigger and better books will pop up.
You guys needs more employees I think...
defeats the purpose in the first place to have that wagering option....
I have 6 wagers waiting to be graded from over 4 hours ago (Pro Bowl) and I've since emailed them with no reply. You have a great reputation but slowly bigger and better books will pop up.
You guys needs more employees I think...
I agree with this. You guys do a great job with what you have, but these issues need to be addressed. I wasn't even able to get 2 BTC down on what I wanted for the Pro Bowl. Additionally, waiting 4+ hours after the end of a game for grading is a bit excessive. Investing in employees or some sort of infrastructure to grade bets faster would be a big plus for your site and help ward of the inevitable competition that will arise.
Re: BitBook.biz - Bitcoin sportsbook - Instant Withdrawals - Widely Trusted
I'm not sure if this has been mentioned or not in this thread yet, but there seems to be a rounding issue with some bets.
I placed this one today:
Football Team Sanders
Team Rice Under 90 4 hours from now -107 ฿ 1.07 ฿ 0.99938
Payout should be ฿1. It's only a ฿ 0.00072 (~$0.60) difference, but that adds up over time and is a bit annoying.
I placed this one today:
Football Team Sanders
Team Rice Under 90 4 hours from now -107 ฿ 1.07 ฿ 0.99938
Payout should be ฿1. It's only a ฿ 0.00072 (~$0.60) difference, but that adds up over time and is a bit annoying.
You know, I have noticed this lately as well. It's off by a little amount but if there is no explanation and bitbook is doing this to everyone it would add up for bitbook and again I'd question their honesty.
They calculate w/ decimal odds. Turn them on in your settings, and you will see.
Thanks. That makes sense. It's still a bit annoying/misleading and they should probably do something about it though (even if that something is just informing bettors).
Re: BitBook.biz - Bitcoin sportsbook - Instant Withdrawals - Widely Trusted
I'm not sure if this has been mentioned or not in this thread yet, but there seems to be a rounding issue with some bets.
I placed this one today:
Football Team Sanders
Team Rice Under 90 4 hours from now -107 ฿ 1.07 ฿ 0.99938
Payout should be ฿1. It's only a ฿ 0.00072 (~$0.60) difference, but that adds up over time and is a bit annoying.
I placed this one today:
Football Team Sanders
Team Rice Under 90 4 hours from now -107 ฿ 1.07 ฿ 0.99938
Payout should be ฿1. It's only a ฿ 0.00072 (~$0.60) difference, but that adds up over time and is a bit annoying.
I don't see this being used by many people, but for reasons other than hording. Overstock would have to give some sort of incentive for people to use bitcoins, otherwise there's no reason to go through the hassle of getting them (especially when it will end up costing more with exchange fees) just to spend them at Overstock. Additionally, cash back credit cards still give people more of a reason to use them over bitcoins.
When you don't panic sell when the price goes down 40%
Yes the smart true believers sell their BTC and then buy it back lower, and have 40% more bitcoins as a result.
Not to be a math nit, but actually 2/3 more