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Hahaha. I love the idea of Wall Street jocks vs. Internet Nerds in FOREX. I can just imagine some lower Manhattan hedge fund guy shorting Bitcoins just because

Hahaha. I love the idea of Wall Street jocks vs. Internet Nerds in FOREX. I can just imagine some lower Manhattan hedge fund guy shorting Bitcoins just because he's got 100k in fun money.

wcfields 14y ago
Edit: Holy shit, the exchange rate dropped to ~74 from, what, like 250 yesterday/day before?
- theorique 14y ago
  Well, yeah ... that's one of the reasons why there's so much attention to bitcoin lately - volatility is through the roof, and a 70% drop in a day is a big deal.
- malandrew 14y ago
  What people neglect to mention is that it rose just as fast.
  - jhales 14y ago
    not quite as fast, but it's still up 300%for the year lol.
    - derrida 14y ago
      It's up a lot more than 300% for the year.
      - jhales 14y ago
        True, I was approximating from when I bought in. More like 500%, when I posted above or 700% now.
ttrreeww 14y ago
BitCoin is currently capitalized like a mid-sized stock. 11m * 80 = 880 million company.
- betterunix 14y ago
  Unlike Bitcoin, stock in a company has meaning beyond the stock market, such as voting rights or equity in the company. Bitcoin makes no guarantees at all -- even fiat currencies like USD carry some sort of legal meaning (e.g. that you can use the currency to pay taxes or to settle debts).
  - vrotaru 14y ago
    The stock market is a place the stock is traded. A bitcoin exchange is a place where the bitcoin is traded. Obviously this is neither the only actual, nor potential use of bitcoin.
  - fnordfnordfnord 14y ago
    >Unlike Bitcoin, stock in a company has meaning beyond the stock market Or at least that's what we like to think.
    - hkmurakami 14y ago
      1 stock represents fractional ownership of the company, which owns physical assets, liabilities, accounts payable, etc. In other words, real life assets. On the other hand BitCoin fundamentally has no tangible asset backing it. Its price is driven purely by supplly/demand, rather than any sort of book value. I don't know enough about macro finance to discern whether this is a good/bad/neutral thing for BitCoin, but it's a worthy distinction to make in comparing stock and Btc.
      - zimbatm 14y ago
        Couldn't the real life costs of mining the coins be a base for the bitcoin value ?
jacquesm 14y ago
You mean that guy that bought at $12?
incision 14y ago
>I love the idea of Wall Street jocks vs. Internet Nerds in FOREX. Wall Street has had its own nerd contingent for a long time: http://en.wikipedia.org/wiki/Quantitative_analyst http://en.wikipedia.org/wiki/Quantitative_analyst
- hkmurakami 14y ago
  Especially these days, a Manhattan hedge fund guy is more likely to be a Quant than a Jock. You're probably more likely to find jocks in the mega-banks, particularly in the flow trading and sales departments.
illuminate 14y ago
There's not really much of a difference with brogrammers.

Hahaha. I love the idea of Wall Street jocks vs. Internet Nerds in FOREX. I can just imagine some lower Manhattan hedge fund guy shorting Bitcoins just because he's got 100k in fun money.

wcfields 14y ago

Edit: Holy shit, the exchange rate dropped to ~74 from, what, like 250 yesterday/day before?

theorique 14y ago
Well, yeah ... that's one of the reasons why there's so much attention to bitcoin lately - volatility is through the roof, and a 70% drop in a day is a big deal.
malandrew 14y ago
What people neglect to mention is that it rose just as fast.
- jhales 14y ago
  not quite as fast, but it's still up 300%for the year lol.
  - derrida 14y ago
    It's up a lot more than 300% for the year.
    - jhales 14y ago
      True, I was approximating from when I bought in. More like 500%, when I posted above or 700% now.

ttrreeww 14y ago

BitCoin is currently capitalized like a mid-sized stock. 11m * 80 = 880 million company.

betterunix 14y ago
Unlike Bitcoin, stock in a company has meaning beyond the stock market, such as voting rights or equity in the company. Bitcoin makes no guarantees at all -- even fiat currencies like USD carry some sort of legal meaning (e.g. that you can use the currency to pay taxes or to settle debts).
- vrotaru 14y ago
  The stock market is a place the stock is traded. A bitcoin exchange is a place where the bitcoin is traded. Obviously this is neither the only actual, nor potential use of bitcoin.
- fnordfnordfnord 14y ago
  >Unlike Bitcoin, stock in a company has meaning beyond the stock market Or at least that's what we like to think.
  - hkmurakami 14y ago
    1 stock represents fractional ownership of the company, which owns physical assets, liabilities, accounts payable, etc. In other words, real life assets. On the other hand BitCoin fundamentally has no tangible asset backing it. Its price is driven purely by supplly/demand, rather than any sort of book value. I don't know enough about macro finance to discern whether this is a good/bad/neutral thing for BitCoin, but it's a worthy distinction to make in comparing stock and Btc.
    - zimbatm 14y ago
      Couldn't the real life costs of mining the coins be a base for the bitcoin value ?

jacquesm 14y ago

You mean that guy that bought at $12?

incision 14y ago

>I love the idea of Wall Street jocks vs. Internet Nerds in FOREX. Wall Street has had its own nerd contingent for a long time: http://en.wikipedia.org/wiki/Quantitative_analyst http://en.wikipedia.org/wiki/Quantitative_analyst

hkmurakami 14y ago
Especially these days, a Manhattan hedge fund guy is more likely to be a Quant than a Jock. You're probably more likely to find jocks in the mega-banks, particularly in the flow trading and sales departments.

illuminate 14y ago

There's not really much of a difference with brogrammers.