Business NYSE creates a new bitcoin index

[Bladewire]

The New York Stock Exchange is diving deeper into the world of Bitcoin with the introduction of a bitcoin pricing index.

The index, which will be made available through NYSE's Global Index Feed and free on its website for a limited time, is intended to serve as a definitive benchmark for valuing the currency ? in the same way that the LIBOR index is used to measure global interest rates.

"We are now going to use our name, reputation and global index provider stature to provide bitcoin values that the rest of the market can look to," says Tom Farley, who serves as president of NYSE, the venerable financial institution that has come to symbolize Wall Street and capitalism more broadly.

Full story here http://mashable.com/2015/05/19/new-york-stock-exchange-bitcoin/


What do you guys think? A big step towards a legitimate acceptance of bitcoin? A subversive ploy to devalue bitcoin?

[Barry-xlovecam]

I first read that at FOXbusiness (<don't trow rotten tomatoes>)

What was worth $979+ is now worth $237+-

It has become a legitimate speculation (maybe some hedging) index and little else.

NYSE to Launch NYSE Bitcoin Index, NYXBT | Business Wire

[danielpbarron]

Originally Posted by Bladewire

What do you guys think? A big step towards a legitimate acceptance of bitcoin? A subversive ploy to devalue bitcoin?

The latter.

[Joshua G]

Originally Posted by Bladewire

What do you guys think? A big step towards a legitimate acceptance of bitcoin? A subversive ploy to devalue bitcoin?

BTC will never be legit. its best purpose has already been realized - enabling cybercrime.

[Bladewire]

Originally Posted by Joshua G

BTC will never be legit. its best purpose has already been realized - enabling cybercrime.

Why would the NYSE get involved indexing it then?

[darksoul]

Originally Posted by Joshua G

BTC will never be legit. its best purpose has already been realized - enabling cybercrime.

The biggest crime enabler is the US dollar, please educate yourself.

[Joshua G]

Originally Posted by darksoul

The biggest crime enabler is the US dollar, please educate yourself.

who gives a fuck? that has nothing to do with this thread.

[Joshua G]

Originally Posted by Bladewire

Why would the NYSE get involved indexing it then?

fair question, i wont pretend to know. what i do know is that a currency without a central bank is not a currency, just a medium of exchange rife with fraud. so who really is sitting on all those mt gox millions that vanished?

[darksoul]

Originally Posted by Joshua G

fair question, i wont pretend to know. what i do know is that a currency without a central bank is not a currency, just a medium of exchange rife with fraud. so who really is sitting on all those mt gox millions that vanished?

By the look of your site you are a few good years behind any advancements in technology so please go educate yourself.
https://en.wikipedia.org/wiki/Currency

[danielpbarron]

Originally Posted by Joshua G

fair question, i wont pretend to know. what i do know is that a currency without a central bank is not a currency, just a medium of exchange rife with fraud. so who really is sitting on all those mt gox millions that vanished?

The thing with Mt. Gox and all the other scams is that we still know exactly how many
coins exist, and the only people harmed were those stupid enough to leave their money with the scammers. Whereas with your stupid currency, you don't know how many units exist, and everybody who uses it gets fleeced as a matter of course. (inflation is theft by counterfeiting).

[Joshua G]

Originally Posted by darksoul

By the look of your site you are a few good years behind any advancements in technology so please go educate yourself.
https://en.wikipedia.org/wiki/Currency

still off topic you are.

[Joshua G]

Originally Posted by danielpbarron

The thing with Mt. Gox and all the other scams is that we still know exactly how many
coins exist, and the only people harmed were those stupid enough to leave their money with the scammers. Whereas with your stupid currency, you don't know how many units exist, and everybody who uses it gets fleeced as a matter of course. (inflation is theft by counterfeiting).

OK so people that leave their money at the exchange are dumb. enlightened people know to move their coin offline. yeah that sure is a viable mainstream currency.

[danielpbarron]

Originally Posted by Joshua G

OK so people that leave their money at the exchange are dumb. enlightened people know to move their coin offline. yeah that sure is a viable mainstream currency.

Not just any exchange; an exchange that wasn't in the WoT. Bitcoin does not depend on mainstream acceptance, but rather the mainstream will come to depend on bitcoin.