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Poker & Bitcoin humor... sorryQuote:
Originally Posted by tigerpiper
Isn't this one the product of manipulation as well? Something about avoiding Chinese currency restrictions?Quote:
Originally Posted by Dan Druff
Druff looks at the charts and yells, "Yuan time!"
Yuan went up 1% and Bitcoin dumped.
I remember playing the radio freeroll on Seals with Clubs, then running up my bitcoin to 1.33 or something. I quit in disgust because that totalled $6.
Flash forward a couple of years and I heard Druff talk about the run up, and it was $125 or so. So I sold one and donated the cash to the freeroll.
Again, thought nothing of it (and had no idea a fraction of a bitcoin was worth anything.) A couple of years later I sold the .33 to a friend for $100, probably with a little haircut.
Who knew? Crazy.
OPPOSITE PICK. C'mon man, you know that's the rule here.Quote:
Originally Posted by donkdowndonedied
Overconfidence is not limited to predicting a speculative asset's *demise*. What's interesting is how quickly after the hot press on bitcoin's ascendency that it has tumbled. Profit taking?Quote:
For whatever reason, there seems to be a $1200 barrier. That was the high it hit in late 2013/early 2014 (I forget which), and then fell from there.
I think there was a buying frenzy when it broke past $1000 and didn't decline.
Then it got to $1174, and suddenly everyone got cold feet.
It also didn't help that the Yuan rallied in the past 48 hours, which likely also caused the "correction".
Anyway, it's back hovering around $1000. Where it goes from here... who knows
Who knows? It'll go up. I'll bet you BTC that BTC goes up relative to USD. End of next year. Whatcha want to bet?Quote:
Originally Posted by Dan Druff
I have no idea where it is going. but right now it's going DOWN.Quote:
Originally Posted by donkdowndonediedWho knows? It'll go up. I'll bet you BTC that BTC goes up relative to USD. End of next year. Whatcha want to bet?Quote:
Originally Posted by Dan Druff
Now $884. Was $1174 a little more than 24h ago.
Quote:
Originally Posted by Dan DruffI have no idea where it is going. but right now it's going DOWN.Quote:
Originally Posted by donkdowndonedied
Now $884. Was $1174 a little more than 24h ago.
http://i.imgur.com/73kXMgs.jpg
FYI the reason for the drop was China's central bank firing a shot over peoples bow about how irrational it is to try to shelter currency in digital beanie babies.
Or to use bitcoin to circumvent capital flight regulations.Quote:
Originally Posted by sonatine
http://www.coindesk.com/report-chine...apital-flight/
Report: Chinese Regulators Exploring Bitcoin Connection to Capital Flight
Stan Higgins (@mpmcsweeney) | Published on January 6, 2017 at 18:05 GMTNEWS
Which could have spooked Chinese holders.Quote:
Though details are currently scarce, Chinese regulators are reportedly looking into the use of bitcoin to avoid capital controls.
According to Tencent Finance, the State Administration of Foreign Exchange (SAFE) is exploring how bitcoin can be used to circumvent capital flight. The news website cited unnamed sources close to regulators, and Tencent’s report was later cited by Bloomberg.
The report emerges in the wake of statements from China's central bank, which said today that it had met with domestic bitcoin exchanges this week, warning them about adhering to state regulations. It also comes as Chinese officials weigh instituting additional capital controls on top of existing constraints amid an outflow of funds from the country, as reported last month by the South China Morning Post.
BTCC, one of the exchanges that met with central bank officials, later released a statement confirming their communication with the People’s Bank of China.
The State Administration of Foreign Exchange did not immediately respond to an emailed request for comment.
The Chinese are definitely spooked
BTC doesn't offer up a solution to volatility. BTC offers up a solution against government actors. Although at some point, the internet can be censored/software outlawed.Quote:
Originally Posted by Dan DruffI have no idea where it is going. but right now it's going DOWN.Quote:
Originally Posted by donkdowndonedied
Now $884. Was $1174 a little more than 24h ago.
Depending on where one is in life, having almost all your money into BTC was a good idea.
I would not tell anyone to buy right now, although I think it would be a good bet. It could retract to 600 and not get back to 1000 for a year or something. But the market cap is only 16 billion. This is a digital currency that only grows with legitimacy as time goes on. The Chinese guys who bought in to avoid capital control are probably staying right there.
Honestly I figured it would stay around 1k. Now we're at 900ish who knows.. could go down to 600, but it will go up once again higher than ever. Trump + Republicans aren't going to attack it.
Quote:
Originally Posted by donkdowndonedied
Yeah druff, better stack up on bitcoins before the internet is censored/software outlawed by government actors but not Trump + Republicans.
Republicans will not be attacking BTC. Not their thing for that to spring up out of nowhere. I'm acknowledging that BTC has limitations. Actively censoring the internet is the ultimate move, but it could in theory happen. So at some point the BTC idealists are a bit dreaming.Quote:
Originally Posted by sonatineQuote:
Originally Posted by donkdowndonedied
Yeah druff, better stack up on bitcoins before the internet is censored/software outlawed by government actors but not Trump + Republicans.
Most likely BTC transactions will just be buried in paperwork before any internet censorship happens with some prosecutions here and there which will kill the further growth.
The government can outlaw everything. Ok, so you say they won't outlaw their own money! touche'
The government will just print infinite amounts.... lol
Either day trading or buying bitcoin for investment are probably two of the most lol things you could ever do with your money.
Why? Which investments have you made that have outperformed BTC?Quote:
Originally Posted by Pooh
LOL.
Druff give me the power of the hammer so I can clean house pronto.
Marty will be sparred. I promise.
I mentioned this whole thing happening 1 page ago, now watch, we will now see a higher high than last :) Rinse, repeat.
This is a good point. I clearly know shit about nothing. Carry on.Quote:
Originally Posted by donkdowndonediedWhy? Which investments have you made that have outperformed BTC?Quote:
Originally Posted by Pooh
LOL.
Druff give me the power of the hammer so I can clean house pronto.
Marty will be sparred. I promise.
POOH YOU JUST GOT HOSED
Quote:
Originally Posted by JACKDANIELS
$861
$830
Lol it's up and down like a whore's knickers these daysQuote:
Originally Posted by BeerAndPoker
$802, baaaaaad news for all those holding BTC
Even at 800 it's still a huge gain. The only people sweating that are those that didn't see the mini bubble. If it falls below 400 then it's news
I am also hearing a lot of rumblings about ethereum currently trading at 10. Any thoughts?
Trumps press conference was supposed to cover China trade and protectionist policies.
Bottom line will China devalue yuan to fight with US tariffs If renews trade war Bitcoin resumes climb
Bitcoin is just a yuan proxy
Haven't heard anything yet ... he's on stage now. Entertaining as all hell though
Chaos reigns Mumbles and yes I love it.
Quote:
Originally Posted by Sanlmar
$787
I just read that taiwan is scrambling jets because a chinese aircraft carrier just entered their waters.
China's ONLY aircraft carrier. C'mon, that's pretty funny.Quote:
Originally Posted by lewfatherQuote:
Originally Posted by Sanlmar
$787
I just read that taiwan is scrambling jets because a chinese aircraft carrier just entered their waters.
This place has more leaks than the goddamned iraqi navy.Quote:
Originally Posted by SanlmarChina's ONLY aircraft carrier. C'mon, that's pretty funny.Quote:
Originally Posted by lewfather
It's obvious that there are algos that trade on spoken words by Trump. He says "pharma" and in nanoseconds the market moves. You have no shot trading news.
Lew types Bitcoin and BTC crashes another $30. Please stop
Obviously, i thought that was well known.Quote:
Originally Posted by Sanlmar
Trading battles will ensue and china will be on the losing end.
Hold on to those coins boys(and girls, if any), it's going to hit 1,400 by the end of the year.
I hope it continues to crash honestly lolQuote:
Originally Posted by Sanlmar
Bitcoin is at $1080 in india?
https://cointelegraph.com/news/while...-1080-in-india
Quote:
While Misleading Information on China Stalls Price, Bitcoin Hits $1080 in India
Quote:
Misleading information on the status of the Chinese Bitcoin exchange market led to a significant decline in the price of Bitcoin. Yet, some markets remain unaffected, including India, which demonstrated an all-time high value of Bitcoin at $1,080.
Inaccurate media reports on the relationship between Chinese Bitcoin exchanges and local regulators created false speculations that major Bitcoin exchanges including BTCC, Huobi and OKCoin were under scrutiny. Bitcoin has already begun to recover after various reports were shut down by both the Chinese government and local Bitcoin exchanges.
In the midst of this chaos, the Indian Bitcoin exchange market observed a consistent growth in daily trading volume and demand. The worsening financial turmoil and the uncertainty of the nation’s economy have raised serious concerns on both long and short-term performance of the Indian rupee.
As the circulation of the national currency of India was cut in half within months since the announcement of demonetization, Indian investors and traders began to search for safe alternatives other than gold, which is also being confiscated and seized by the local government.
Robust Indian Bitcoin infrastructure
Unlike many regions, the Indian Bitcoin market has a robust Bitcoin infrastructure, with reputable and regulated Bitcoin exchanges including Zebpay, Coinsecure and Unocoin. The three venture capital-backed exchanges have provided the necessary infrastructure for local investors to trade Bitcoin with ease.
Reliable services and trading platforms of the above-mentioned exchanges simplified the process of pivoting away from traditional banking systems and fiat-based services.
Unocoin has even reported that its user base doubled in the past two months, demonstrating the rapid growth of the Bitcoin user base in India and the demand for the digital currency.
Sathvik Vishwanath, co-founder of Unocoin stated:
"Two years ago, I had to explain to people what a Bitcoin was. Today, people are more aware and we have over 1.27 lakh users. Just in the last two months, those numbers have doubled.”
Currently, the price of Bitcoin on the Indian Bitcoin exchange market remains strong at $972, a value that is approximately 17 percent higher than the price of Bitcoin at global Bitcoin exchanges on average.
If this economic uncertainty and financial instability in India stemming from the demonetization of banknotes continues, it will likely cause the value of Bitcoin to rise further. The World Bank went as far as downgrading India’s growth forecast earlier this week, which led to a further devaluation of the Indian rupee and stronger performance of Bitcoin on the Indian Bitcoin exchange market.
“Continued tailwinds from low oil prices and solid agricultural output were partly offset by challenges associated with the withdrawal of a large volume of currency in circulation and subsequent replacement with new notes,” said the World Bank.
I didn't know bitcoins had different prices in different countries.
I know, when I first heard that I said noooooo waaaaaayQuote:
Originally Posted by Mintjewlips
Quote:
Originally Posted by limitlesI know, when I first heard that I said noooooo waaaaaayQuote:
Originally Posted by Mintjewlips
LOL ok that sounded wrong, i meant i didn't know bitcoins had different USD value in different countries, ok you smug shit.
Is there a site where I can buy like $300 or $500 in BTC on debit or credit card while awaiting the whole send in copies of license and utility bills? I apologize if I've asked this before. If I did, I didn't follow through.
Wow