Quote:
Originally Posted by Sanlmar
Welcome to the party, pal.
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Quote:
Originally Posted by Sanlmar
Welcome to the party, pal.
Apologize if this has been posted.
https://youtu.be/WOUZxG1JcGI
Everything I have read is the run up is in Asia, especially in South Korea. The retail investors cannot cash out in an orderly fashion, because there is no regulation. The exchanges don't have enough cash to handle a bank run, because the banks are not going to accept crypto, only exchanges. South Korea has to be terrified, they have NK breathing down their neck and for all they know the sellers of the coins are from North Korea.Quote:
Originally Posted by sonatine
There is value in regulated markets. Until the world becomes a nations without borders, crypto can never work.
Not sure if anybody else has been notified but got an email this morning hashcoins was suspending withdrawals temporarily due to issues with block.io and massive delays on the chain. Isn’t going to do anything to alleviate concerns that have been ongoing that’s for sure.
Are they shifting the blame onto block.io? Block.io is running just fine.Quote:
Originally Posted by ftpjesus
Saw this one the other day from Jordan Belfort. He's just another monger speculating imo.
https://www.youtube.com/watch?v=hsaU4-AUW2Y
Quote:
Originally Posted by BeerAndPoker
My issue with bitcoin is t the security of it all. I feel as if people are glossing over these common reports of bitcoins being stolen as if they are no big deal. 60 million was jacked last week. There is no FDIC insurance for this stuff. I also wonder what happens if some big corporation gets behind a currency or develops it own. For example, Elon Musk or Jeff Bezos decides to develop one that is even better and does offer some insurance against hacking.
Bitcoin could very well be worth 100s of thousands a coin or more in a few years. However, at the end of the day, you will most likely want to convert it into fiat currency so you can buy shit in the real world. To do this you have to deal with third parties that may be operated by shady people or are just not secure. Once your bitcoin is with a third party , you are not in much better shape than having your money on some shady casino site. At that point it is all numbers until it hits your bank account.
looks like one of the big dogs of the ICO scene is about to go up in flames.
Tezos is a fucking mess. One of the 4 people on the board just quit in disgust because of infighting between the other 3, 2 of whom are married and own the source code of the project.
People who donated to their ICO have not received their 'tezzies' crypto coins because of the ongoing fued, and the value of the btc & eth coins they donated has of course gone through the roof since.
On top of which, the married couple are facing no less than 3 class action lawsuits that they are insisting Tezos foot the cost of defending against, meaning all those people who donated to the ICO would, in fact, be basically footing their legal bill.
:lol2
https://www.reuters.com/article/us-b...-idUSKBN1E62KN
https://www.cnbc.com/2017/12/13/fed-...ive-asset.html
yellen basically rehashing this thread yall.
The old broad’s tempered comments are more reflective of the fact that fraud, money laundering and other bitcoin fun is more of a Treasury deal than the Fed.Quote:
Originally Posted by sonatine
Nonetheless interesting
To her credit she speaks English as opposed to Alan Greenspan’s cypher.
She was a puppet but I’m gonna miss her a little bit.
I still harbor your comment Sonatine that one late night Tweet from Trump could trigger enormous threadworthy lolz
Hold Your Own BitcoinsQuote:
Originally Posted by cmoneyQuote:
Originally Posted by BeerAndPoker
My issue with bitcoin is t the security of it all. I feel as if people are glossing over these common reports of bitcoins being stolen as if they are no big deal. 60 million was jacked last week. There is no FDIC insurance for this stuff. I also wonder what happens if some big corporation gets behind a currency or develops it own. For example, Elon Musk or Jeff Bezos decides to develop one that is even better and does offer some insurance against hacking.
Bitcoin could very well be worth 100s of thousands a coin or more in a few years. However, at the end of the day, you will most likely want to convert it into fiat currency so you can buy shit in the real world. To do this you have to deal with third parties that may be operated by shady people or are just not secure. Once your bitcoin is with a third party , you are not in much better shape than having your money on some shady casino site. At that point it is all numbers until it hits your bank account.
Either Sell to Private Parties
Or Use Big USA exchanges
Futures are down around $1100 so that’s fun too.
Has there been any volume on large conversions from bitcoin to USD$? I am not talking about bleeding out a couple thousand a week on an exchange or some mysterious transaction from one guy to another. I guess what I am asking has there been an event where someone just handed over a flashdrive to a bank and walked out with a million bucks, either in person or in a documented transaction. In other words, here is 500 hundred bitcoins, give me millions in cash right now, either in person or internet in real time.
Aside from the accidental idiot who binked something ... big trades like the ones of your daydreams happen in dark pools away from the public exchanges.Quote:
Originally Posted by Scandinavian Bob
I mean exchanges sponsor Dark Pools sometimes but its private
Neither side wants to upset a thin market and collapse or spike prices.
So you never know the truly tasty trades.
Google Dark Pools and enjoy.
Nice call on Roy Moore dip shitQuote:
Originally Posted by Scandinavian Bob
LOL. Go back to being Mr. Dad and buy some bitcoin dignity. You might be a successful internet poker player and troll, but you are a life pansy. Fucking stay at home Dad, how pathetic.Quote:
Originally Posted by big dickNice call on Roy Moore dip shitQuote:
Originally Posted by Scandinavian Bob
You missed my question. I am not looking for some dark trade. Most, if not all bitcoin transactions are retail investors, i.e. general goobers. So someone that has say a million dollars worth of bitcoins, how do they unload them naturally? I am not talking about drug trade type transactions. I am talking about someone in say Idaho with 20 bitcoins and wants $340,000 in USD$ on Friday. How does he do it?Quote:
Originally Posted by SanlmarAside from the accidental idiot who binked something ... big trades like the ones of your daydreams happen in dark pools away from the public exchanges.Quote:
Originally Posted by Scandinavian Bob
I mean exchanges sponsor Dark Pools sometimes but its private
Neither side wants to upset a thin market and collapse or spike prices.
So you never know the truly tasty trades.
Google Dark Pools and enjoy.
That’s a mystery to me as so many exchanges limit the amount you can sell at one time. Which itself is a fun component of the rigged bitcoin game.Quote:
Originally Posted by Scandinavian BobYou missed my question. I am not looking for some dark trade. Most, if not all bitcoin transactions are retail investors, i.e. general goobers. So someone that has say a million dollars worth of bitcoins, how do they unload them naturally? I am not talking about drug trade type transactions. I am talking about someone in say Idaho with 20 bitcoins and wants $340,000 in USD$ on Friday. How does he do it?Quote:
Originally Posted by Sanlmar
bitcoin is primarily a tool designed for me to funnel money to the bovada blackjack table
See that is my point, this fake news of "Stored Currency". Stored Bitcoin Currency to me means you can't cash it out when you want to because it crashes the system. The exchanges don't have the liquidity to handle really anything other that a few dozen coins a day. You can't buy anything of value with bitcoins unless you have a true believer on the other side selling.Quote:
Originally Posted by SanlmarThat’s a mystery to me as so many exchanges limit the amount you can sell at one time. Which itself is a fun component of the rigged bitcoin game.Quote:
Originally Posted by Scandinavian Bob
So it's not a currency and its not an asset you can liquidate.
The problem is retail investors make up the bulk of the recent buying. It just takes one whale to drop 10,000 coins and it wipes out the exchanges, and all the retail gets crushed. What a disaster in the making.
Like I said, I might be wrong, but has there been anyone in the last month documented cashing out say $5M in Bitcoin and getting cash (USD$) the next day? That is a pittance in a multi Trillion dollar economy.
I'd feel better about this asset if you could walk into a bank with a flashdrive and walk out with a 8 figure cashier check.
I haven’t deposited to an offshore site in a while. But I am seeing stuff about really high fees now. I got a random email from my wallet pointing out that I can now vary the fee I am willing to tip the miners.Quote:
Originally Posted by BlunderMaker
What I took away was that I don’t want to withdraw from the book with the idea that I can just ship it back painlessly later. The fees should make me think twice.
On the other hand, Betonline sent me an email encouraging litecoin and ethereum and maybe something else like dogecoin.
I have no fucking idea what LTC & ETH fees are presently but maybe BTC is dead as far as online blackjack is concerned
Just checked and saw that BOL does indeed take ETH now. Interesting.Quote:
Originally Posted by SanlmarI haven’t deposited to an offshore site in a while. But I am seeing stuff about really high fees now. I got a random email from my wallet pointing out that I can now vary the fee I am willing to tip the miners.Quote:
Originally Posted by BlunderMaker
What I took away was that I don’t want to withdraw from the book with the idea that I can just ship it back painlessly later. The fees should make me think twice.
On the other hand, Betonline sent me an email encouraging litecoin and ethereum and maybe something else like dogecoin.
I have no fucking idea what LTC & ETH fees are presently but maybe BTC is dead as far as online blackjack is concerned
In this day and age if you lose your coin you are a fuckwit. Buy a trezor or a ledger nano S; keep hold of your own coin / private keys. Don't be a twat.
ill give ol bob this...the selling effect is real when it happens...
its the same as a commodity market being cornered except this is much worse...theres no way to punish the whales who have this cornered because there's no mechanism to short...these guys decide at some point to get out (ill concede that I don't think this is a great probability given the whales who hold the float) youll see a cascade effect thatll make your head spin...
https://www.youtube.com/watch?v=Vq7JSic1DtMQuote:
Originally Posted by GambleBotsChafedPenis
Quote:
Originally Posted by sonatine
https://www.wsj.com/articles/the-for...ors-1513074750
im just saying, china waiting to guthook greedy american fuckups before they deflate price and wipe out a substantial portion of the middle class's wealth is not exactly far fetched.
The Whales really can't dump because there is no real liquidity in the system. I go back to my question, has there been a documented case (at least recently) where someone cashed in 500 bitcoins for $8,000,000 (today's prices). No bank is going to make that transaction, so it's third party unregulated exchanges. They literally would have to have billions of USD$ in their coffers just to handle a potential surge and run on withdraws for liquidity.Quote:
Originally Posted by GambleBotsChafedPenis
This whole "liquid gold" is just bullshit. Real gold gets stored value because half of it on an annual basis gets made into jewelry. There are 3 Billion women on this planet and they love gold jewels, not to mention wedding rings. A bitcoin is a sequence of numbers, there is no intrinsic value in that, unless you drink koolaid and the value is in the electricity it takes to "mine it".
It's hard to believe we are wasting huge amounts of electricity worldwide to make something as useless as bitcoin. What a waste of resources.
Just watch the exchanges. 1000s of BTC pass around every hour.Quote:
Originally Posted by Scandinavian BobThe Whales really can't dump because there is no real liquidity in the system. I go back to my question, has there been a documented case (at least recently) where someone cashed in 500 bitcoins for $8,000,000 (today's prices). No bank is going to make that transaction, so it's third party unregulated exchanges. They literally would have to have billions of USD$ in their coffers just to handle a potential surge and run on withdraws for liquidity.Quote:
Originally Posted by GambleBotsChafedPenis
This whole "liquid gold" is just bullshit. Real gold gets stored value because half of it on an annual basis gets made into jewelry. There are 3 Billion women on this planet and they love gold jewels, not to mention wedding rings. A bitcoin is a sequence of numbers, there is no intrinsic value in that, unless you drink kooliad and the value is in the electricity it takes to "mine it".
It's hard to believe we are wasting huge amounts of electricity to make something as useless as bitcoin.
You have no clue.
thing is you can always dump into any market in the world 99% of the time unless shit just is absolutely locked...if somebody wanted to come along and dump 10K BTC into the market at market price they could...wouldn't get $17K for each coin, but you could sure as shit do it...Quote:
Originally Posted by Scandinavian BobThe Whales really can't dump because there is no real liquidity in the system. I go back to my question, has there been a documented case (at least recently) where someone cashed in 500 bitcoins for $8,000,000 (today's prices). No bank is going to make that transaction, so it's third party unregulated exchanges. They literally would have to have billions of USD$ in their coffers just to handle a potential surge and run on withdraws for liquidity.Quote:
Originally Posted by GambleBotsChafedPenis
This whole "liquid gold" is just bullshit. Real gold gets stored value because half of it on an annual basis gets made into jewelry. There are 3 Billion women on this planet and they love gold jewels, not to mention wedding rings. A bitcoin is a sequence of numbers, there is no intrinsic value in that, unless you drink koolaid and the value is in the electricity it takes to "mine it".
It's hard to believe we are wasting huge amounts of electricity worldwide to make something as useless as bitcoin. What a waste of resources.
And how many of those 1000,s can/are converted to USD$? It's all paper gains until you can see it in your bank account without government interference.Quote:
Originally Posted by Belly BusterJust watch the exchanges. 1000s of BTC pass around every hour.Quote:
Originally Posted by Scandinavian Bob
You have no clue.
I paid 25 cents to send LTC to bookmaker last night.Quote:
Originally Posted by SanlmarI haven’t deposited to an offshore site in a while. But I am seeing stuff about really high fees now. I got a random email from my wallet pointing out that I can now vary the fee I am willing to tip the miners.Quote:
Originally Posted by BlunderMaker
What I took away was that I don’t want to withdraw from the book with the idea that I can just ship it back painlessly later. The fees should make me think twice.
On the other hand, Betonline sent me an email encouraging litecoin and ethereum and maybe something else like dogecoin.
I have no fucking idea what LTC & ETH fees are presently but maybe BTC is dead as far as online blackjack is concerned
The Jews in New York can unload 500 BTC for you if you want.Quote:
Originally Posted by SanlmarAside from the accidental idiot who binked something ... big trades like the ones of your daydreams happen in dark pools away from the public exchanges.Quote:
Originally Posted by Scandinavian Bob
I mean exchanges sponsor Dark Pools sometimes but its private
Neither side wants to upset a thin market and collapse or spike prices.
So you never know the truly tasty trades.
Google Dark Pools and enjoy.
I have yet to hear of anyone losing their coins from an app installed on their phone.Quote:
Originally Posted by Belly Buster
See this is game theory: "You could do this, to get that". If you have 10,000 bitcoins and your cost average is $12,000, and half go at $1,000 what is your point then?Quote:
Originally Posted by GambleBotsChafedPenisthing is you can always dump into any market in the world 99% of the time unless shit just is absolutely locked...if somebody wanted to come along and dump 10K BTC into the market at market price they could...wouldn't get $17K for each coin, but you could sure as shit do it...Quote:
Originally Posted by Scandinavian Bob
There are 21M bitcoins total in year 2140, there are 15M mined today. 4 Million (by a lot of reports) are lost in translation. So you have a market of 11M today. If you believe the reports, and they are sketchy for sure, 40% owns the float.
This has the be the most riskiest and worst investment on the planet. As a bonus, there is very little documented (if any) conversion to USD$ on anything other than a small retail scale.
You said the same shit the otherday fagQuote:
Originally Posted by Scandinavian BobThe Whales really can't dump because there is no real liquidity in the system. I go back to my question, has there been a documented case (at least recently) where someone cashed in 500 bitcoins for $8,000,000 (today's prices). No bank is going to make that transaction, so it's third party unregulated exchanges. They literally would have to have billions of USD$ in their coffers just to handle a potential surge and run on withdraws for liquidity.Quote:
Originally Posted by GambleBotsChafedPenis
This whole "liquid gold" is just bullshit. Real gold gets stored value because half of it on an annual basis gets made into jewelry. There are 3 Billion women on this planet and they love gold jewels, not to mention wedding rings. A bitcoin is a sequence of numbers, there is no intrinsic value in that, unless you drink koolaid and the value is in the electricity it takes to "mine it".
It's hard to believe we are wasting huge amounts of electricity worldwide to make something as useless as bitcoin. What a waste of resources.
Would agree that is mostly safe but what if you lose your phone?Quote:
Originally Posted by snake_in_the_assI have yet to hear of anyone losing their coins from an app installed on their phone.Quote:
Originally Posted by Belly Buster
Seems like your major concern is that you believe Ray Bitar is running coinbase and Joe Sebok is running Gemini.Quote:
Originally Posted by Scandinavian BobAnd how many of those 1000,s can/are converted to USD$? It's all paper gains until you can see it in your bank account without government interference.Quote:
Originally Posted by Belly Buster
Dude this is an adult thread. If you want to troll, find another thread or go back to Roy Moore thread where I owned your life. Better yet, get your grocery list ready and hang out at your local supermarket tomorrow morning with the other wives drinking coffee and sharing shopping tips.Quote:
Originally Posted by big dickYou said the same shit the otherday fagQuote:
Originally Posted by Scandinavian Bob
youre talking about being able to liquidate 10K BTC...you can, but the market isn't deep enough to do it at current prices so you're gonna have to go way down the bids to find enough volume to fill...there is definitely a way to fill a 10K BTC order if you want actual cash, but just don't expect to do it at quote or anywhere near it...Quote:
Originally Posted by Scandinavian BobSee this is game theory: "You could do this, to get that". If you have 10,000 bitcoins and your cost average is $12,000, and half go at $1,000 what is your point then?Quote:
Originally Posted by GambleBotsChafedPenis
There are 21M bitcoins total in year 2140, there are 15M mined today. 4 Million (by a lot of reports) are lost in translation. So you have a market of 11M today. If you believe the reports, and they are sketchy for sure, 40% owns the float.
This has the be the most riskiest and worst investment on the planet. As a bonus, there is very little documented (if any) conversion to USD$ on anything other than a small retail scale.
and I get your point...no you cant liquidate an order that big at current market prices...
Right, so we agree its NOT a currency. It's a loss producing asset. In that you cannot buy anything with it (say a BMW), and when you try to sell it at current prices there is a chance it diminishes its value before you can close on it.Quote:
Originally Posted by GambleBotsChafedPenisyoure talking about being able to liquidate 10K BTC...you can, but the market isn't deep enough to do it at current prices so you're gonna have to go way down the bids to find enough volume to fill...there is definitely a way to fill a 10K BTC order if you want actual cash, but just don't expect to do it at quote or anywhere near it...Quote:
Originally Posted by Scandinavian Bob
and I get your point...no you cant liquidate an order that big at current market prices...
I hate to say it, but this is online poker. You deposit, and hope you win, and more than hope you get your money off the site into your bank account if you do win. How crazy. This is probably why Micon was so drawn to it, he understands the massive risk and downside.
When you think about it, Druff could probably start an exchange on this site. Not poker related, just exchanges, which to my knowledge are legal.