903800+ entries in 0.602s
WILLdude: I need
to read up or ask about it more
than i have.
furuknap: You should listen
to only one person and
that is you.
The herd is not a good indicator, nor are anyone giving you advice in either direction.
furuknap: Only you can decide whether
to sell or buy.
furuknap: I'm guessing you are rushing
to get some Asicminer shares right now. Chill down for a bit and learn what makes ASICMiner a good deal. Understand how
their revenues are generated. Understand where
the dividends come from. Understand
their expenses and market.
furuknap: If not, you do not buy. You sit down, you relax, you realize
that good investments will be around for a long
time, and
the extremely profitable investments
take a lot of
time
to find and understand.
furuknap: Do you know how
to fully evaluate
the value of
the share you have chosen?
WILLdude: I see. So make sure I understand what
the fund does?
furuknap: There is a
third
thing here, which is extremely vital.
furuknap: Conversely, if
there is someone willing
to sell at a lower price
than you and someone comes in
to buy
then
their sales are done before yours.
furuknap: Simplified, it is a lowest price first for asks, and highest price first for bids. In other words, if
there are people in
the market buying and willing
to pay more
than you
then
their bids are filled first if
there is someone willing
to sell.
Chaang-Noi: wow, a n00b getting helpful advice in
this chan, see something new every day:)
furuknap: On
the flip side, when you want
to sell, you join
the people, saying "I want
this amount for my shares". If someone
then comes in and says "I want
to pay more
than X for shares"
then your shares are sold
to
them.
furuknap: When you walk into
the market, all
the asks are people saying "you can buy from me at
these prices". If you bid an amount
that is higher
than any of
these people,
that
trade goes
through.
WILLdude: furuknap: So basically I should just
treat it as a football bet with an extremely unreliable friend? So I should
think
that I probably won't get anything whatsoever back?
furuknap: If you
think of
this like a normal store, on
the market, you are both
the store owner and
the customer, depending on whether you want
to buy or want
to sell.
furuknap: Second,
the asset markets work like
this...
There are
two sides
to every deal, just like in real life.
There are bids, which are essentially people saying "I am willing
to buy X shares for Y amount each".
Then
there are
the asks, which are people saying "I have X amount of shares
that I am willing
to sell for Y amount each".
furuknap: You will not stand a chance, and if you accept
that initially, you'll get a lot further.
furuknap: First of all,
the money you have now... Forget
that you have it. It is gone and you will lose it. Just
think
to yourself
that
those are monopoly money
that just caught fire.
furuknap: OK, I'll
try
to help, although I'm hesitant
to lead more lambs
to
the slaughter.
furuknap: WILLdude, have you been
trading in asset markets before?
WILLdude: Maybe because I made a bid higher
than
the last.
WILLdude: Well, for
them
to find someone.
WILLdude: But I
thought you actually needed
to find someone
to sell it
to you?
WILLdude: How come my order wwas fulfilled at
the same
time as I placed it?
WILLdude: Some of my orders seem
to complete quicker on Havelock, but maybe
that's just because of my price.
WILLdude: Is
there any benefit of using Havelock PT shares over
TAT.ASICMINER shares?
mircea_popescu: ThickAsThieves
that's ok, we don't endorse
them either.
Chaang-Noi: <assbot> [BTCTC] [ASICMINER-PT] 1 @ 2.03999 BTC [+] i sold
that
furuknap: Thirs
time I'm saying
that in a couple of days. Have
to remind myself. I'm freaking out right now.
ThickAsThieves: i get very paranoid when everyone is saying shit like
that
BitHub: if
they do
that for a month i
think 3btc seems very doable
BitHub: and 50btc each for
the blades
BitHub: so potentially 20,000 btc for
the usb's
BitHub: plus
they still got over 600btc worth of orders and
that's only 1 group buy
Chaang-Noi: yes
they are selling units, just email him how many you want
BitHub: is
the selling units a ongoing
thing from now on?
furuknap: <furuknap> If
there is any sanity in
this market, 2.5 is far more likely. <I meant 1.5
furuknap: Doesn't matter if
they deploy 200.
They can't really grow much more without killing Bitcoin.
BitHub: i was
thinking it would get
to 2.5 before choking
Chaang-Noi: not unless
the 200th is being deployed pretty damn quick
furuknap: If
there is any sanity in
this market, 2.5 is far more likely.
BitHub: do you
think we'll get
to 3btc in a few weeks chaang?
furuknap: For calls is is locked. For puts, you have
to put up escrow for full amount.
Chaang-Noi: Am now worth more
than $100,000,000 and dont forget about all
the dividends paid out :)
mircea_popescu: and if someone offers a put at 1.75 is
there 1.75 btc locked out of his account ?
furuknap: Buyer wins if price exceeds 2.8 over
the next X days. Didn't see how long,
though, but
the put I mentioned at 1.75 is on 28 days.
furuknap: They own a share, sell an option
to someone who can
then buy
that share at 2.7. For
that,
the buyer pays, in
this case, 0.1, effectively paying 2.8 per share.
furuknap: There are five puts for sale @1.75 with 0.15 premium. Balls is fine,
this is just madness.
furuknap: Before
that,
there were
three @2.1 with ~฿0.5 premiums.
furuknap: Someone picked up 5 call options at strike ฿2.7 at BTCT during
the night. Crazy
times.
mircea_popescu: BitHub but why
the sad face ? redditvestors have decided
they must have more punishment.
gribble: BTCUSD
ticker | Best bid: 123.10000, Best ask: 123.19999, Bid-ask spread: 0.09999, Last
trade: 123.10000, 24 hour volume: 83831.47932605, 24 hour low: 116.77000, 24 hour high: 125.55550, 24 hour vwap: 122.17715
Chaang-Noi: i doubt china really gives a fuck
that he is exporting
the btc he made
`0: I
think china is more likely
to embrace btc
than
the US
`0: sending
tons of btc out is sending profit overseas
Chaang-Noi: honestly, i bet he is bringing it into
the country...
Chaang-Noi: i have no reason
to suspect friedcat is sending currancy overseas
`0: <Chaang-Noi> yes china hates it when peopel in china make stuff and
then sell it
to
the west.. oh wait,
that is all china does... << china hates when
their companies make profit and send it overseas.
Chaang-Noi: yes china hates it when peopel in china make stuff and
then sell it
to
the west.. oh wait,
that is all china does...
[\]: the same
thing
the US is doing
to mtgox, china could do
to AM
[\]: until china decides
to be stupid
ThickAsThieves: it's not in
their best interest
to spike difficulty 20% every round
furuknap: Yeah, but
the ROI on
those blades are already pushing
the limit. Add another 50
TH
to
the network and
they won't sell for what
they have been doing.
ThickAsThieves: it involves selling hardware harder when
they get
too much net %
furuknap: Here's one
thing
that slightly bothers me. AM still hasn't reached
their 50
th yet. I'm confident
they will. However, if
they are just holding back for not reaching 50%,
that'll mean a whole lot of buzz when
they do deploy additional hashing, despite
the ratio of
total not increasing by a percent.
furuknap: Let's follow BTC/100, so
top would be ฿2.66 and we'd crash down
to ฿0.5 again.
blehg: very worried
that we might actually hit 10.
That would be
terrifying
Chaang-Noi: "Im going
to say it. I have a
target of 10BTC for Asicminer before fall. 5BTC within 30 days." lol
Chaang-Noi: i might just list on btct.co cuz he can move
them faster
Chaang-Noi: has
there been some good news with asicminer recently? or is
the amrket just realzing how awesome AM is?
furuknap: Heh, at
these levels, you couldn't force me
to :-)
furuknap: Yes, let me just rush in and do
that... Because, I don't know, so many others can't be wrong?
furuknap: (someone follow up with
that 300 quote)