Tag Archives: digital currency

Knightmare on Wall Street Said to Scare Bitcoin Digital Currency Market From $1000 to 10 in 2013

Edgar Perez, Author, The Speed Traders, and Course Director, The Speed Traders Workshop, Introduces Knightmare on Wall Street, The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, a Behind-the-scenes Look at Knight Capital’s 17 years of Tumultuous Existence as an Independent Company.

New York, NY, USA (December 24, 2013) — As indicated by The New York Times’ Nick Bilton, bitcoin, the digital currency that has captured attention around the world, exploded. By November, it had skyrocketed from a fraction of a penny to $1,242, roughly the price of an ounce of gold. It has been a wild, wild ride: up and down, down and up. Everyone seems to be wondering what this crazy new thing might mean. The end of government control over money? The start of an international crypto-currency? Is Knightmare on Wall Street coming for this market?

Bitcoins are mined according to a set of algorithms. Essentially, computers solve some math problems and generate bitcoins. The coins are stored in, and traded among, digital wallets. People can buy real things with them, at least from people who accept them, or, as many people seem to be doing, sit on them in hopes the price will keep rising. Per the algorithms, mining bitcoins becomes more difficult over time. Only about 21 million of them can ever be created – which is why so many people have been chasing after them. Bitcoins are now accepted as payment at almost a thousand retail outlets and websites, including OKCupid, Reddit, and Pizza Rodi in Montreal. But what has really grabbed attention is how volatile the price has been. The value has gyrated wildly. In the last month alone, the bitcoin market capitalization has swung between $14 billion and $7 billion.

However, Mark Williams of Boston University has insisted that the value of a Bitcoin will pop, falling as low $10 next year. Others say it is all just another bubble. Is the bitcoin market reaty to experience its own version of a Knightmare on Wall Street? This is the new book by Edgar Perez, former McKinsey consultant and celebrated author of The Speed Traders, now available in his website http://www.MrEdgarPerez.com with immediate shipping now available at http://www.KnightmareonWallStreet.com.

Knightmare on Wall Street provides a fascinating account of what it took to elevate the firm to the cusp of the retail investing revolution of the late 1990s, to struggle through booms and busts, and to bring the firm down, to end up ultimately being ignominiously bought up by a competitor. Readers will discover a thrilling minute-by-minute account of the terrifying hours following Knight Capital’s August 1, 2012 trading debacle, with news-breaking research regarding the firm’s 17 years of tumultuous existence as an independent company.

At 9:30 A.M. on August 1, 2012, right after the markets opened for the day, Knight Capital began issuing an unprecedented number of erroneous orders into the market, due to an error in installing new software. Knight Capital announced later a staggering loss of $440 million. What followed after this shocking announcement were several rounds of desperate conversations with a number of vulture players who had smelled opportunity and were readying themselves to pick up bargain-priced pieces. On August 6, 2012, Joyce confirmed that Knight Capital had struck a deal with Jefferies, TD Ameritrade, Blackstone, GETCO, Stephens, and Stifel Financial, staving off collapse days after the trading mishap.

Perez is widely regarded as the preeminent global expert in the specialized area of high-frequency trading. He is author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World, published in English by McGraw-Hill Inc. (2011), Published in Mandarin by China Financial Publishing House (2012), and Investasi Super Kilat: Pandangan Orang dalam tentang Fenomena Baru Frekuensi Tinggi yang Mentransformasi Dunia Investasi, published in Bahasa Indonesia by Kompas Gramedia (2012). Perez is course director of The Speed Traders Workshop, How High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX (Hong Kong, Sao Paulo, Seoul, Kuala Lumpur, Warsaw, Kiev, New York, Singapore, Beijing, Shanghai). He contributes to China’s International Finance News and Sina Finance and The New York Times.

Edgar has been interviewed on CNBC’s Squawk on the Street, Worldwide Exchange, Cash Flow and Squawk Box, FOX BUSINESS’s Countdown to the Closing Bell and After the Bell, Bloomberg TV’s Market Makers, CNN en Español’s Dinero, Sina Finance, BNN’s Business Day, CCTV China, Bankier.pl, TheStreet.com, Leaderonomics, GPW Media, Channel NewsAsia’s Business Tonight and Cents & Sensibilities. In addition, Edgar has been globally featured on FXFactor, Columbia Business, OpenMarkets, Sohu, News.Sina.com, Yicai, eastmoney, Caijing, ETF88.com, 360doc, AH Radio, CNFOL.com, CITICS Futures, Tongxin Securities, ZhiCheng.com, CBNweek.com, Caixin, Futures Daily, Xinhua, CBN Newswire, Chinese Financial News, ifeng.com, International Finance News, hexun.com, Finance.QQ.com, Finance.Sina.com, The Korea Times, The Korea Herald, The Star, The Malaysian Insider, BMF 89.9, iMoney Hong Kong, CNBC, Bloomberg Hedge Fund Brief, The Wall Street Journal, The New York Times, Dallas Morning News, Valor Econômico, FIXGlobal Trading, TODAY Online, Oriental Daily News and Business Times.

Media Contact:
Julia Petrova
Media Relations Coordinator
Knightmare on Wall Street
+1-414-FORUMS0
info@knightmareonwallstreet.com
http://www.knightmareonwallstreet.com

Buy a Slice of Premium Rackspace Hosting with Bitcoin

37solutions, a Rackspace member reseller, today announced support for Bitcoin payments which will essentially allow customers to buy premium Rackspace hosting and email services with the popular digital currency.

Pittsburgh, PA (USA), April 03, 2013 — Bitcoins are the first decentralized digital currency – essentially digital coins – that you can send through the Internet. Unlike traditional currency that requires a bank or clearing house to transfer funds, Bitcoins can be sent directly from person to person.

“We see a lot of potential for Bitcoin to be a viable form of payment for Internet transactions and we want to support the community by accepting payments for our hosting services in Bitcoin”, said Gregory Duffie, owner of 37SOLUTIONS, LLC.

Bitcoin users are typically more technically savvy and can appreciate quality hosting options. There are a lot of Bitcoin enthusiasts that have been accumulating coins for a couple years now but there are relatively few places to use those coins. And while there are certainly other hosting providers that accept Bitcoin 37solutions appears to be the first to offer Rackspace hosting in exchange for the popular digital currency.

The electronic currency has been getting a lot of press lately from popular news sources. The total market value of all Bitcoins in circulation reached 1 billion USD this week and the price has just topped 100 USD per coin.

“We learned about Bitcoin in late 2012 and embraced the new currency by purchasing a mining rig from Butterfly Labs.”, Gregory said.

He continued, “The recent popularity of Bitcoin coincided with our website redesign so we took advantage of the timing and added Bitcoin payments to our new e-commerce store. We hope that we’ll fill a niche market of users looking to spend their BTC for website hosting, email hosting, website design and other technology services.”

About 37SOLUTIONS, LLC:
Since 2002 37SOLUTIONS ( http://www.37solutions.com ) has provided myriad solutions to clients trying to navigate the digital highway without a proper map. Services include website hosting, website design and management, database administration, email marketing, search engine optimization, social media management, technology consultations and even computer repair. 37solutions works closely with individuals, charities and small businesses to enhance their web presence in an increasingly complex world.

Press & Media Contact:
Gregory Duffie
37SOLUTIONS, LLC
731 Orchard Ave
Pittsburgh, PA 15202 – USA
412-223-7756
greg@37solutions.com
http://www.37solutions.com