COINBASE for Crypto has come

Clinamenic

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Bacoin, now trading at $0.000000000000160087 with a circulating supply of 1,000,000,000,000,000,000 BCN.
 

Clinamenic

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Send me 1 ETH worth of BCN, and I will send you back 2 ETH worth of BCN. I promise.
 

Clinamenic

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I can promise because I hold 999,000,000,000,000,000 BCN in my genesis wallet.
 

Clinamenic

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These normies just don't understand!

edit: sarcasm
 
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Clinamenic

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drawing from this study, which may not have so wide a sample size, perhaps just a single brokerage firm but I haven't read through it.


Anyway the point that prompted this post that was the institutional algorithmic traders in question used market orders <0.4% of the time, whereas retail investors use market orders around 50% of the time. Speaks volumes of literacy discrepancies, and yet all this knowledge is freely available online.

Most of my crypto orders were market orders, before I learned about limit orders, which have been starkly superior. Don't know what PEG orders are, though.
 

Clinamenic

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And moreover the limit orders are reversible, preserving value in dollars (or whatever native fiat) which may yet be resent to traditional bank accounts.
 

Clinamenic

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A pegged-to-market order is designed to maintain a purchase price relative to the national best offer (NBO) or a sale price relative to the national best bid (NBB). Depending on the width of the quote, this order may be passive or aggressive. The trader creates the order by entering a limit price which defines the worst limit price that they are willing to accept. Next, the trader enters an offset amount which computes the active limit price as follows:
Sell order price = Bid price + offset amount
Buy order price = Ask price - offset amount

National Best Bid and Offer[1] (NBBO) is a regulation by the United States Securities and Exchange Commission that requires brokers to execute customer trades at the best available (lowest) ask price when buying securities, and the best available (highest) bid price when selling securities, as governed by Regulation NMS.

For example, if the offer (or "ask") price for a stock is $25.00 for 100 shares of a stock on one exchange and $24.50 for 100 shares of the same stock on another exchange, and a broker has a customer who wishes to purchase 150 shares of the stock, then the broker is required to purchase all of the shares available at $24.50 on behalf of the customer before purchasing any of the shares available at $25.00. Additionally, if an order for 150 shares is sent directly to the first exchange, it is required under most circumstances to route the first 100 shares of the order to the other exchange, where the shares are available at a cheaper price.

Still don't quite get the peg orders (doesn't seem like PEG is the actual acronym here, but just shorthand?), but NBBO is an interesting policy that ostensibly delivers on the SEC's promise to protect investors.
 

Clinamenic

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I wonder what kinds of financial instruments are exclusively accessible to institutional investors. Really it seems like we retailers are limited only by our algorithms, but maybe there are certain things that simply aren't traded publicly and/or cannot serve as an underlying.
 

Clinamenic

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Apparently high-frequency trading, on the order of milliseconds and maybe tens of milliseconds, comprises over 50% of trading in the US,
 

Clinamenic

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Quite possibly shutting itself out of the financial future. I sense another end of history coming.
 

Clinamenic

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But it’s not blockchain based, to my knowledge. But really I don’t see any reason why it couldn’t be.
 

Clinamenic

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Digital currency in and of itself is far less of an innovation than blockchain. The innovation of blockchain subsumes the innovation of digital currency.
 
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