You are right. It is a game for the rich for now
At current prices the bitcoins would cost $13 million, as in the past weeks the price of the cryptocurrency surged to its highest
levels in the past 2 years and passed the $530 mark. According to Adam Nikitins, partner in Ernst & Young, quoted by
media, the seller expects interest from asset investment
managers, currency exchanges, investment banks and hedge funds in North
America and Europe. “The number of bitcoin transactions since 2012 has
quadrupled and parties are seeing more opportunities and uses for the
technology,” Nikitins told Reuters.
Many people? Who? Criminal people or institutional investors? Not many normal people would take the risk of currency fluctuations, especailly if they are that high as here.
You can buy bitcoin on ebay from some dubious sellers - or let me rephrase it: you pay for it but you never will see it on your account. Just looked and first offer I opened is from a guy with 0 ratings - guess why.
What are you talking about?
Do you actually know what are you talking about?
Oh well : one more
You're right, I have no idea how an ordinary trader would be able to participate in an auction like this. That said, there are some traders out there who make quite a bit of money, so who knows.
Isn't that the same with all the money laundering games :)
Bitcoin plunged for a fifth day as concern Britain will vote to leave
the European Union waned and a hack suffered by another cryptocurrency
undermined confidence in such digital assets.
Bitcoin slid 6.1
percent to $573.84 as of 1:31 p.m. in Hong Kong on Thursday, data
compiled by Bloomberg show, extending a precipitous drop from a two-year
high reached just last Friday. The price has lost about 25 percent in
the five-day period.
Bitcoin, like gold, has been tracking the
odds of Brexit on the eve of the referendum on Thursday as investors
speculated over such an outcome, which governments and central banks
have warned may spark turmoil. Confidence in bitcoin was also shaken
this week as another virtual currency ether plunged after a hack removed some digital money, while a bitcoin exchange temporarily suspended trading this week amid technical issues.
"With the Brexit deadline approaching we’re starting to see a genuine
concern for what’s to come, and this of course has been reflected across
the global markets space, which does include bitcoin," said Ryan
Rabaglia, head of wholesale product management at ANX International in
Hong Kong. "We had a surprise earlier this week of a prominent exchange
having technical difficulties. As it is in the world of bitcoin, when
that happens, everyone panics and assumes the worst."
Hard-working Britons with their life savings
stashed in British pounds woke up Friday morning about 8 percent poorer
after their country voted to leave the European Union.
Meanwhile, bitcoin investors were shielded from the Brexit news: They enjoyed an almost 9 percent jump in the value of their holdings.
It's the type of event that bitcoin
enthusiasts, many in the technology industry, have anticipated because
of growing political and economic instability in many regions of the
globe. Meanwhile, legions of skeptics have criticized the cryptocurrency
as a high-risk bet on an unprotected and unregulated alternative to
"Bitcoin is effectively becoming
digital gold," said Ashvin Bachireddy, co-founder and general partner at
Geodesic Capital, a Silicon Valley venture capital firm that backed
bitcoin start-up 21 Inc. "You can continue to see further validation of
bitcoin as something detached from a centralized government that allows
people who work to preserve wealth in a secure way."
Not that Bachireddy — or any
credible bitcoin investor — is recommending selling all your pounds,
euros or dollars in favor of the cryptocurrency. There is tremendous
volatility involved, and the currency still has limitations in how and
where it can be used.
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