The Bitcoin Mercantile Exchange (Bitmex) made more than a quarter billion dollars just last month, when nearly everybody else lost money (and many their shirts). Bitmex is an offshore Bitcoin futures exchange, incorporated in Seychelles but operating out of Hong Kong. It opened its doors in 2014. As private company Bitmex is not required to make public their… Read More »
Big news this week is the upcoming Bitcoin Cash hard fork, scheduled for November 15th. A hard fork occurs when two separate development teams can’t agree on how to move forward with coding enhancements, and decide to go separate ways. Two different code bases: two different coins. It’s a coin split. Hard forks are more common than you think.… Read More »
Two weeks ago the price of bitcoin was about $350 higher in Asia than in North American, as I wrote in my previous article. That’s a five percent spread, with bitcoin hovering close to $6500. Even with trading and transfer fees, a five percent spread attracts investors familiar with the technique of arbitrage (the simultaneous buying and selling of… Read More »
The price of Bitcoin in Asian markets briefly spiked up to $7800 USD before settling down to $6750 Monday morning. That is still $350 higher than Bitcoin prices in North America. The markets have not seen such price disparity since the fourth quarter of 2017. Such disparity is either very good news or very bad news. First, let’s… Read More »
It’s ironic but true that the market accepting Bitfinex as a safe haven for cash (NOT crypto) is driving down the price of bitcoin. Bitfinex, a cryptocurrency exchange based out of Hong Kong is arguably the biggest in the world as ranked by volume (Beware of stats on coinmarketcap.com, all the exchanges ranked above it have been accused… Read More »
On September 2nd of this year, a trader (or a group of traders) shorted a rather large amount of bitcoin on the Bitfinex exchange, a cryptocurrency exchange based in Hong Kong. It took about two and a half hours for the trader(s) to short roughly 11,000 bitcoin (at $6500 USD, that is $71.5 million). Here is the chart:… Read More »
