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I skimmed this recently. I keep thinking about it days later
I Can Be the Bank’: Individual Investors Buy Busted Mortgages
https://www.wsj.com/articles/a-decad...ife-1542734455
If I had a shingle and an underdeveloped heart like you - I’d be all over this.
Fun to think about.
Must subscribe or log in the read full articleQuote:
Originally Posted by Sanlmar
No you don't.Quote:
Originally Posted by incognito81Must subscribe or log in the read full articleQuote:
Originally Posted by Sanlmar
http://facebook.com/l.php?u=https://...ife-1542734455
I posted two ways to get around paywalls.
Not sure you can. But here’s the complete chart:Quote:
Originally Posted by TellafriendQuote:
Originally Posted by Sanlmar
So do what to make money off it now ?
https://www.cnn.com/2018/11/29/tech/...sec/index.html
Congratulations! Ya played yourself!
Quote:
Originally Posted by Avon Barksdale
What a slap on the wrist...if you can even call it that.Quote:
Originally Posted by Avon Barksdale
Maybe a slight tickle.
National Suicide Hotline, Please HODL.
:lolQuote:
Originally Posted by Sanlmar
Papa Bush wrote 211 pages of instructions for his funeral, so I’m not overdoing it here by planning ahead.
At what price does it become irrefutably correct for miners to power off?
You see a lot of numbers. I found $4500 today. Like all things bitcoin related there is some element of nonsense in that number, I’m sure.
Let’s say $2500. No miners, no ledger then it’s a bums rush to $1. It’s not gonna be a smooth landing.
I see they have been lowering the hash rate or whatever the miners puzzle difficulty is called.
I think we should all chip in for a Sonatine gift when that happens. Early Xmas present
Only if it completely crashes. Difficulty lags behind the price, but not so much that it would wipe out all the miners.Quote:
Originally Posted by Sanlmar
Something like this...
https://medium.com/coinshares/an-hon...s-f820d6218bdf
i mentioned this earlier, a lot of the major mining operations have suspended service some time ago.
only the ones with 'agreements' regarding power consumption are still humming.
Typical hostile takeover tactics.....lol at you nerds not seeing that...obviously it will plummet, it had to, but "donkdown", it's as donkdown as my penis, occasionally it rises and performs well...
It’s guys like you that killed nipples on TumblrQuote:
Originally Posted by Mintjewlips
If you're privy to those 211 pages please post the first ten. This is why you don't want to live to 94Quote:
Originally Posted by Sanlmar
You’re Canadian - You lack the necessary clearance.Quote:
Originally Posted by limitlesIf you're privy to those 211 pages please post the first ten. This is why you don't want to live to 94Quote:
Originally Posted by Sanlmar
Now what should concern you is your 100% liquor tax and Trudeau’s plan to a increase it annually.
You would think you’d be rioting like those kids in Paris last weekend.
Riots should begin at home.
Canadian millenials should be running stills not mining gear.
Soooo.... follow me here.
I think Micon took a huge financial haircut in 2018.
Let's go over the timeline:
December 29, 2017: "Public gonna get rekt in 2018 crypto."
Amazingly, he was completely correct! The public did indeed get completely "rekt" in 2018 crypto. On the day Micon posted this, bitcoin was at about $14,500, more than 25% down from its all time high of around $19,800 just 12 days earlier.
Micon also observed that people were starting to get excited about "cool" altcoins such as Ripple, and that he felt it was all going to come crashing down in 2018, with the public having lost lots of money in the process. Here he was also spot on.
As we stand today, a little more than 11 months later, bitcoin is about $3800 -- about a 74% loss since 12/29/17 (and that wasn't even from the high)! Ouch!
Ripple, referenced in his post, closed at $2.21 on 12/29/17. It now sits at $0.34 -- about an 85% loss! Again, ouch!
But clearly Micon wasn't investing in bitcoin or Ripple anymore, as it seemed he was negative on both, as well as other altcoins such as Bitconnect.
So what did Micon do? Was he one of the few smart people who cashed out at or near the peak?
February 18, 2018: A private plane flight
While people were debating whether Micon was broke or ballin', or perhaps somewhere in between, this impressive picture popped up on Twitter:
Okay... so Micon was flying around in a private jet. Certainly not the look of a broke guy.
But was it his jet? Did he rent it?
Turns out the answer was, "Neither one."
The jet belonged to Roger Ver.
Roger was a major figure in bitcoin, who then later led the revolt against bitcoin, largely due to his advocacy of a larger block size. Ver's revolt led to the "hard fork" of bitcoin, which essentially created two bitcoins -- original bitcoin (still known as bitcoin), and a new bitcoin known as "bitcoin cash". This occurred on August 1, 2017. Whatever bitcoin you held on August 1, 2017, you had that same amount in Bitcoin Cash. At that point, the two split off and were independent of one another.
Roger was in the camp that bitcoin needs to be a transactional currency, meaning that it should be appropriate for everyday use to pay for things. The other camp in the bitcoin community disagreed with him, and preferred bitcoin staying more along the lines of a digital investment.
Micon's longtime interest in bitcoin wasn't just financial. Much of it was philosophical. He felt that bitcoin would change the world, and the anarchist in him loved the idea of being on the ground floor of a currency (supposedly) free from government interference. As Micon slowly ditched poker and became a known name in the bitcoin community, this philosophy remained important to him. He and Ver became friends, and Micon fully supported Ver's vision of what bitcoin should become. Thus, Micon became a bitcoin cash advocate, as seen in the above tweet.
So what did Micon do with all of his bitcoin at the end of 2017?
It's a fair bet that he traded them all in for Bitcoin Cash.
How much was bitcoin cash worth on 12/29/17? About $2800.
How much is it worth now? Read on...
November 15, 2018: Play It Again, Roger
Drama within the bitcoin world makes the poker world drama look tame by comparison.
Bitcoin Cash did not live happily ever after. Instead, two factions developed within Bitcoin Cash: Roger Ver and Jihan Wu wanted to keep the 32MB block size, whereas Calvin Ayre and Craig Steven Wright (who now claims he was the original Satoshi Nakomoto) wanted to increase to a 128MB block size.
This infighting led to yet another hard fork.
On November 15, Bitcoin Cash split, becoming Bitcoin Cash ABC (Ver/Wu version) and Bitcoin Cash SV (Ayre/Wright version). This hard fork was considered a disaster, as it pretty much put the nail in the coffin of the viability of Bitcoin Cash.
Value-wise, it also hasn't gone well. Unified Bitcoin Cash closed on November 14 at $425. Today, Bitcoin Cash ABC is worth $124, and Bitcoin Cash SV is worth $90 -- meaning that it's lost about 50% value since the split.
Of course, all cryptos have taken a beating since November 15, but Bitcoin Cash has gotten smacked down worse.
It is likely that Micon, who isn't a supporter of Bitcoin Cash SV, converted his Bitcoin Cash SV into Bitcoin Cash ABC after the hard fork. This likely already hurt, as SV has mostly held its value post-split (going down from about $97 to $90), whereas ABC has dropped from about $289 at the time of the split to $124.
But even ignoring that and combining the value, Bitcoin Cash was worth $2800 at the time of that 12/29/17 tweet, and now it's worth about $214. That's a 92.24% reduction in value. Triple ouch. And if he converted his SV into ABC after the recent hard fork, that cost him another 23% of his Bitcoin Cash value, meaning he will have actually lost about 94% of his crypto value since making that tweet. Quadruple ouch.
Bottom line is that, if Micon really did go all-in with Bitcoin Cash, and has held tight ever since, he's about 6% as wealthy as he was on 12/29/17.
Of course, this is all speculation, but I'd be surprised if I were too far off.
Bonus in case you are wondering where he's living now:
https://pokerfraudalert.com/forum/at...6&d=1509110164
Micon isn't the only former poker player speaking at crypto currency conventions about Bitcoin, Ethereum and other alt-coins. Dan Fleyshman is doing a lot of that these days too.
Micon probably cashed out of Bitcoin a long time ago.
I doubt he invested his entire fortune in Bitcoin cash.
Micon is probably putting together some type of alt-coin scam like Ripple or Tether.
Alt-coin ICO's are being prosecuted aggressively by the U.S. government which is another reason I'm sure Micon moved to the Caribbean.
https://pbs.twimg.com/profile_images...VE_400x400.jpg
https://podcast.bitcoin.com/images/p...1530032121.jpg
Things I learned in 2018.....druff can hold a grudge.......lol......
shit it took you until 2018 to figure that one out?Quote:
Originally Posted by Mintjewlips
Quote:
Originally Posted by GambleBotsChafedPenisshit it took you until 2018 to figure that one out?Quote:
Originally Posted by Mintjewlips
Besides limit poker, druff's jewness has led to many a grudge. Hope you are feeling better Todd!!!
I could go for a good druff calling toys r us from the toilet type of story, this sites been dead. Whoever pays for this is probably operating on a loss.
Good lord, $3400.
Like witnessing a curb stomping. These are big percentage moves now.
I wonder how many people just in poker rooms right now that are saying something to the effect of “wow I can’t believe I was up $250K (or any other “real” number) 12 months ago. I know at least 6. I know one guy who is still up but had $2M at one point and never sold.Quote:
Originally Posted by Sanlmar
Smartest guy I know is one of these full time 9-5ers that also plays poker and bets props and other internet gambling (not me unfortunately but we got a lot in common). He got into BTC early and made a killing with it but also killed at props and kept accumulating them before the boom. It got to a point 2.5 years ago he stopped depositing the BTC because he kept winning bets but it was nullified by not having the BTC apreciation. After a while he withdrew the cash winnings into BTC. When BTC hit 5K he did something foolish and took a big % off the table paid off any real world debt he had including his house and cars. When it started to get parabolic he quickly calculated a number that would get him enough money to cash in the rest and have enough money to retire at 43. The number was 12,xxx.xx...... literally had it down to the penny.
The number hit on a Thursday AM and he pushed the button. All the money got sent to his account/wallets. It took until Tuesday for his bank to confirm the receipt of the cash. He wasn’t to the local BOA branch and got the manager to certify the money was there and it was fully “his”. He walked into work late and retired on the spot (and handed his boss and his three team mates $5k in cash each as he was walking out mid project). That early afternoon he went to fidelity and set up an stock fund, that late afternoon he went to an insurance guy and bought a long term annuity with the rest he left in cash.
Retired at 43 from BTC and Gambaling. The fucking guy is literally my hero.
I don't know, I'm a bit worried here. 12 mil at 43?Quote:
Originally Posted by DalyI wonder how many people just in poker rooms right now that are saying something to the effect of “wow I can’t believe I was up $250K (or any other “real” number) 12 months ago. I know at least 6. I know one guy who is still up but had $2M at one point and never sold.Quote:
Originally Posted by Sanlmar
Smartest guy I know is one of these full time 9-5ers that also plays poker and bets props and other internet gambling (not me unfortunately but we got a lot in common). He got into BTC early and made a killing with it but also killed at props and kept accumulating them before the boom. It got to a point 2.5 years ago he stopped depositing the BTC because he kept winning bets but it was nullified by not having the BTC apreciation. After a while he withdrew the cash winnings into BTC. When BTC hit 5K he did something foolish and took a big % off the table paid off any real world debt he had including his house and cars. When it started to get parabolic he quickly calculated a number that would get him enough money to cash in the rest and have enough money to retire at 43. The number was 12,xxx.xx...... literally had it down to the penny.
The number hit on a Thursday AM and he pushed the button. All the money got sent to his account/wallets. It took until Tuesday for his bank to confirm the receipt of the cash. He wasn’t to the local BOA branch and got the manager to certify the money was there and it was fully “his”. He walked into work late and retired on the spot (and handed his boss and his three team mates $5k in cash each as he was walking out mid project). That early afternoon he went to fidelity and set up an stock fund, that late afternoon he went to an insurance guy and bought a long term annuity with the rest he left in cash.
Retired at 43 from BTC and Gambaling. The fucking guy is literally my hero.
Let's hope his luck continues
I bought the brown one with the extra large hole for my big stupid fucking head.
WRECKED
come at me
i take my medicine when i gotta
you dared to dream.
granted, it was an expensive dream.
took a shot and lost
How are sports books not imploding? Or other businesses who deal in bitcoins but have to pay out in USD?
Unless they are hedging or constantly converting or just raking in enough money to cover it (sportsbooks?) how are they eating losses when it’s falling so quick?
The government sure as shit isn’t bailing out shady bitcoin businesses who haven’t been paying taxes.
Correct me if I'm wrong:Quote:
Originally Posted by simpdog
Two types of sportsbooks that accept Bitcoin...
1.) Bitcoin only. You deposit in Bitcoin, make the bets in bitcoin, withdraw in bitcoin.
2.) Bitcoin for deposit/withdrawal only. Here you make your deposit in BTC, but it gets converted to/from USD (or other fiat currency) at that prevailing rate when the sportsbook receives your deposit/processes your withdrawal. Bitcoin is only ever used to send and receive funds, but all betting and funds that are parked on the sportsbook are in fiat currency.
This sounds insane but I was listening (text to voice) to a Bloomberg Bitcoin story when the automated voice mentioned certain tech companies were laying employees off blah, blah, blah and hand to god I heard Spankbank was forced to cut it's workforce by something or other per cent.Quote:
Originally Posted by simpdog
We have forgotten the role of payment processors. Third parties who accept your payment and deliver the cash to the book for a fee.Quote:
Originally Posted by simpdog
Some books MIGHT be doing payment processing in house but I doubt it.
I guarantee these processors never held BTC over night. Off it went to the exchanges.
More money was made and stolen by processors than most online poker sites ever made.
I have always been fascinated by the processors and the ridiculous cash they generated.
What if Druff knew a Full Tilt & PokerStars payment processor who could offer some insight? Someone who Druff alledged listened to the show.
Chad Elie. Still THE best PFA poker related show ever done.
My first glimpse into Druff’s quirky bag of emotional tics was his “shyness” about calling guests with gravitas to do the show. I mean serious people - not the damaged 23 year old female poker players or other misfits that found air time.
So if you have forgotten about the beautiful world of payment processing you can thank Druff.
If you belive in such nonsense the only time Jesus turned to violence was to beat the money changers out of the temple.Quote:
Originally Posted by SanlmarWe have forgotten the role of payment processors. Third parties who accept your payment and deliver the cash to the book for a fee.Quote:
Originally Posted by simpdog
Some books MIGHT be doing payment processing in house but I doubt it.
I guarantee these processors never held BTC over night. Off it went to the exchanges.
More money was made and stolen by processors than most online poker sites ever made.
I have always been fascinated by the processors and the ridiculous cash they generated.
What if Druff knew a Full Tilt & PokerStars payment processor who could offer some insight? Someone who Druff alledged listened to the show.
Chad Elie. Still THE best PFA poker related show ever done.
My first glimpse into Druff’s quirky bag of emotional tics was his “shyness” about calling guests with gravitas to do the show. I mean serious people - not the damaged 23 year old female poker players or other misfits that found air time.
So if you have forgotten about the beautiful world of payment processing you can thank Druff.
Which leg of my nonsense parlay was your favorite?Quote:
Originally Posted by DalyIf you belive in such nonsense the only time Jesus turned to violence was to beat the money changers out of the temple.Quote:
Originally Posted by Sanlmar
What you talkin about Willis? The scale of the processor earnings (theft)? Merge, for instance, NEVER approached Tzvetkoff money.
Quote:
Originally Posted by big dick
So it's safe to say NONE of your kids are going to college.......lol.......
Today is the day of reckoning for Bitcoin Cash ABC.
It has fallen behind Bitcoin Cash SV.
Crown Calvin Ayre the winner once again.
The nonsense he’s referring to is about Jesus.Quote:
Originally Posted by SanlmarWhich leg of my nonsense parlay was your favorite?Quote:
Originally Posted by Daly
What you talkin about Willis? The scale of the processor earnings (theft)? Merge, for instance, NEVER approached Tzvetkoff money.
I could burn all the money I've used to purchase btc and ethereum and it would be no big deal, and I advise others who aren't in the same boat to stay way -- but bought more at 3600 level, more at these 3200-3300 levels. No one on here listened when I posted about Tron that then 30x, or XRP before it 12x - we're a long way from any of that (doubt that kind of climate ever returns), but I will buy BTC down to zero. Been waiting on sub 5k for almost a year. If you have money to splash around with, Bitcoin SV is a good gamble.