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Kyle Spencer

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  • East Africa bloc signs deal to form single currency [View news story]
    This is a very smart move on East Africa's part.
    Dec 1 06:16 AM | 1 Like Like |Link to Comment
  • Wall Street Doesn't Understand Bitcoin Yet, But It Will [View article]
    A quick draw artist! I didn't recommending $NOK until $2.45... ;)
    Nov 26 11:20 AM | 2 Likes Like |Link to Comment
  • Wall Street Doesn't Understand Bitcoin Yet, But It Will [View article]
    "The US has value because people believe in it. If people stop believing the value goes down."

    That and Legal Tender laws, of course. ;)

    "Bitcoins are much more fragile. They need Tinkerbelle and A lot of fairy dust to keep going. I don't see a happy ending."

    I agree, fungibility is the core issue. However, it may be too general to say that there won't be a happy ending without specifying a time frame.
    Nov 26 11:18 AM | 4 Likes Like |Link to Comment
  • Wall Street Doesn't Understand Bitcoin Yet, But It Will [View article]
    "Are you saying that companies are converting bitcoins to USD at no charge for merchants?"

    Coinbase offers 0% conversion from BTC to USD at 0%, after that I believe there is a small fee. Bank transfers are $0.15 USD. http://bit.ly/1iP6MlB

    Ripple (backed by Google Ventures) also offers frictionless currency exchange. https://ripple.com

    "As consumer, why would I bother using bitcoins if I'm not buying drugs or paying an escort?"

    The novelty factor and the accompanying price action are currently driving adoption, but other reasons are also beginning to emerge. The current drive is for retailers to offer a significant discount for BTC purchases vs. other currencies (Gyft.com offers 3% off, but there is a general trend towards competitive price slashing among high margin retailers in exchange for higher volumes.)

    Again, while the addressable market is still very much in its infancy, new companies are now being launched which allow Bitcoin to be spent on Amazon and eBay, while the existence of Gyft allows BTC holders to convert their holdings to gift cards good at Target, Banana Republic, Kmart, Staples, Zappos, et cet if desired.
    Nov 26 11:05 AM | 4 Likes Like |Link to Comment
  • Wall Street Doesn't Understand Bitcoin Yet, But It Will [View article]
    "At this point, bitcoin seems like any other story stock such as TSLA, but is even more bubbly because there is no way (that I am aware of) to bet against it."

    https://btc.sx
    Nov 26 10:52 AM | 5 Likes Like |Link to Comment
  • Wall Street Doesn't Understand Bitcoin Yet, But It Will [View article]
    Most nefarious activities are paid for in USD and FOREX itself is an OTC market.
    Nov 26 10:49 AM | 12 Likes Like |Link to Comment
  • FOMC minutes: Taper could happen without labor improvement [View news story]
    " Nonetheless, some participants noted that, if the Committee were going to contemplate cutting purchases in the future based on criteria other than improvement in the labor market outlook, such as concerns about the efficacy or costs of further asset purchases, it would need to communicate effectively about those other criteria. In those circumstances, it might well be appropriate to offset the effects of reduced purchases by undertaking alternative actions to provide accommodation at the same time."

    Translation: We plan to switch QE for extended low forward guidance as soon as we get done running it by the banks to make sure everyone's on board. This isn't news.
    Nov 20 08:47 PM | Likes Like |Link to Comment
  • Apple's Italian Tax Woes Are Just The Tip Of The Iceberg [View article]
    Thanks, Vince!
    Nov 18 07:58 PM | Likes Like |Link to Comment
  • Apple's Italian Tax Woes Are Just The Tip Of The Iceberg [View article]
    Well, originally the title was "Apple's Italian Woes Are Just The Tip of the Iceberg for Multinationals in Europe", but I thought it a bit cumbersome. :)
    Nov 18 07:56 PM | Likes Like |Link to Comment
  • Analysts: Buffett likes Exxon, but that doesn't mean everyone should [View news story]
    " -- but investors who blindly followed Buffett into Big Blue in 2011 have significantly underperformed."

    Never judge the viability of a long-term investment within a 24 month time horizon. Anyway, doesn't the performance question depend, even for short term investors/speculators, on whether or not one sold in 2012?
    Nov 16 05:07 PM | Likes Like |Link to Comment
  • Yellen leans dovish in prepared confirmation hearing remarks [View news story]
    The simple fact is that the Fed isn't going to stop stimulating until it sees the whites of Inflation's eyes. I'm positioning myself accordingly.
    Nov 13 06:38 PM | 2 Likes Like |Link to Comment
  • Bull Markets Don't Last Forever [View article]
    Alas, it's also true that investors who live through major collapses tend to make about 20-25% less over the course of their lives because they can't shake the PTSD-like effects of hitting rock bottom.
    Nov 11 09:21 PM | 1 Like Like |Link to Comment
  • Dalio: No gas left in QE tank [View news story]
    The Fed can stay irrational longer than you or I can stay solvent.
    Nov 11 03:55 PM | 10 Likes Like |Link to Comment
  • Asia: 3 Warning Signs Of A Potential Bloodbath Ahead [View article]
    Or the author is wrong, and we're climbing a wall of worry in a secular bull market that still has legs, in which case bearish capitulation will result in a melt up.
    Nov 11 12:37 PM | Likes Like |Link to Comment
  • Twitter Likely To Fall By 25% Due To Legacy Expenses [View article]
    William,

    Agreed. If Facebook's recent rollercoaster is any guide, there's more to be made by squeezing the shorts than there is in shorting the stock outright. The more the shorts pile in, the lower the bar will get.
    Nov 10 08:55 PM | Likes Like |Link to Comment
COMMENTS STATS
990 Comments
1,127 Likes