Bitcoins are officially donkdown

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Originally Posted by Deal

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Originally Posted by snake_in_the_ass

My friend purchased 10 Bitcoin ATM's and he is receiving shipment of the 1st one this week. Not sure if that is a sign of a top or not. LOL. I will be helping set it up. From what I understand, the ATM itself has a local wallet and the machine will communicate with a server in the cloud. Clueless about programming but I think it is mostly cut and paste. Should be interesting to see what kind of volume it gets.

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The big worry is the supplier having a built in backdoor to steal your coins. Any feature of the machine could trigger it and if they have a server component the rogue code could use that authorized port/IP to ship your coins out. Nothing you can do to protect yourself. I've seen a few in convenience stores around here. Never seen anyone using one.

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Given the ubiquity of ATM crime at the moment, I think relegating threat to the supplier is not even semi-coge.

Low seven-figures a year is spent on ATM security audits/upgrades.

What do you think the manufacturers of these BTC ATMs spent on hardening?

Another high for BTC. Shhhhhhhhhh.

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Originally Posted by GringoStar

Another high for BTC. Shhhhhhhhhh.

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You're looking at Bitfinix

Let's see, hack, couldn't withdraw fiat, liquidity etc etc. I think people are buying their way out.

Not real. Hell, not of its real

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Originally Posted by Sanlmar

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Originally Posted by GringoStar

Another high for BTC. Shhhhhhhhhh.

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You're looking at Bitfinix

Let's see, hack, couldn't withdraw fiat, liquidity etc etc. I think people are buying their way out.

Not real. Hell, not of its real

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Honestly, I didn't understand what you said entirely. I'm looking at Coinbase not BS bitfinix. CB is stable with 98%+ of their shit backed in cold storage. They are more susceptible to reputational damage than a major hack - even though I am aware the two dangers aren't mutually exclusive.

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Originally Posted by Sanlmar

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Originally Posted by snake_in_the_ass

Thanks. This is just an experiment by my rich and bored friend. Curious to see how it turns out.

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$7500 a unit?

You gonna have a corresponding web site? Post address on machine. Every buyer has a phone.

Link to this thread would be helpful too

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$10,000/unit delivered.

https://coinatmradar.com/

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Originally Posted by Sanlmar

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Originally Posted by GringoStar

Another high for BTC. Shhhhhhhhhh.

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You're looking at Bitfinix

Let's see, hack, couldn't withdraw fiat, liquidity etc etc. I think people are buying their way out.

Not real. Hell, not of its real

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Sanlmar,

This is Coinbase's trading exchange:
https://www.gdax.com/trade/BTC-USD

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Originally Posted by sonatine

http://gawker.com/feds-seize-assets-...ange-506790294

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The only thing that ended up donktown from your original post is Gawker - the very source of this fear-mongering and Luddite skepticism.

Thanks Micon

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Originally Posted by GringoStar

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Originally Posted by Sanlmar

You're looking at Bitfinix

Let's see, hack, couldn't withdraw fiat, liquidity etc etc. I think people are buying their way out.

Not real. Hell, not of its real

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Honestly, I didn't understand what you said entirely. I'm looking at Coinbase not BS bitfinix. CB is stable with 98%+ of their shit backed in cold storage. They are more susceptible to reputational damage than a major hack - even though I am aware the two dangers aren't mutually exclusive.

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I just assumed you had mistakenly looked at one of the exchanges like Bitfinix which is currently $1414

Pick a number, any number.

The spreads between exchanges is remarkable. They each have their own issues. Any white man would arbitrage this shit if only you could deposit or withdraw.

Look, moments like these (the new highs) are very disheartening. Not just for me personally. My selfless concern for others, especially the Chinese leaves me disquieted too

Today's coindesk article touches on the spread between exchanges and their fiat processing problems that have been percolating for a while now. Spares me the trouble of explaining what I was trying to say.

Bitcoin Price Sets New Single Exchange All-Time High
http://www.coindesk.com/bitcoin-pric...nge-time-high/

Panic buying before the shutdown?

Does anyone know where Micon works? I'd like to send him a gift card for a warm meal. He is too thin to be missing dinner even if it is for lack of funds.

Always caring. That just me.

Don't mind Sonatine, Gringo. He's just nostalgic. We are all about feelings in this thread

Sell at 1401!! You're welcomed!!

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Originally Posted by Mintjewlips

Sell at 1401!! You're welcomed!!

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I already got out, didn't think it'd crest 1300. Oh well.

Keeping holding! Stay strong.

Currently nearing $1410 on Coinbase.

I am testing the Bitcoin ATM and linked to the BitGo wallet. BitGo transaction log says the blockchain fee to send $100 is 72.5 cents. And for $120 it was $1.90. Are these fees normal? With those type of fees, it is impossible to make money if anyone wants to come into the store and buy a small amount of bitcoin. I am a rookie when it comes to Bitcoins, any help would be appreciated.

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Originally Posted by snake_in_the_ass

I am testing the Bitcoin ATM and linked to the BitGo wallet. BitGo transaction log says the blockchain fee to send $100 is 72.5 cents. And for $120 it was $1.90. Are these fees normal? With those type of fees, it is impossible to make money if anyone wants to come into the store and buy a small amount of bitcoin. I am a rookie when it comes to Bitcoins, any help would be appreciated.

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That's what BitGo has to pay to get your Bitcoin off the blockchain. That's your overhead to spit Bitcoin out the chute.

You are programming that thing to charge a 8 or 9% fee - minimum. Do not be shy. Your market is similar to the payday loan/check cashing crowd. No financial presence or too lazy to dance with CoinBase etc.

Go to LibertyX web site and punch a few locations. They are a competitor of yours with a website. Walk in with cash - walk out with Bitcoin. The site will reveal each outlet's fee. This is typical.

Those guys have a far far cheaper terminal too.

Get Tyde to create a corresponding website for you.

If you stuck that thing in a casino or a poker room that would be a very interesting experiment. That too is your drug sniffing, money swapping, online gambling target market. (That meeting with the property mgr would be THE most interesting meeting you ever had BTW)

You have very little time to lose before Bitcoins are DD.

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Originally Posted by Sanlmar

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Originally Posted by snake_in_the_ass

I am testing the Bitcoin ATM and linked to the BitGo wallet. BitGo transaction log says the blockchain fee to send $100 is 72.5 cents. And for $120 it was $1.90. Are these fees normal? With those type of fees, it is impossible to make money if anyone wants to come into the store and buy a small amount of bitcoin. I am a rookie when it comes to Bitcoins, any help would be appreciated.

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That's what BitGo has to pay to get your Bitcoin off the blockchain. That's your overhead to spit Bitcoin out the chute.

You are programming that thing to charge a 8 or 9% fee - minimum. Do not be shy. Your market is similar to the payday loan/check cashing crowd. No financial presence or too lazy to dance with CoinBase etc.

Go to LibertyX web site and punch a few locations. They are a competitor of yours with a website. Walk in with cash - walk out with Bitcoin. The site will reveal each outlet's fee. This is typical.

Those guys have a far far cheaper terminal too.

Get Tyde to create a corresponding website for you.

If you stuck that thing in a casino or a poker room that would be a very interesting experiment. That too is your drug sniffing, money swapping, online gambling target market. (That meeting with the property mgr would be THE most interesting meeting you ever had BTW)

You have very little time to lose before Bitcoins are DD.

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How much time? By what date are you reasonable confident that bitcoin price will fall below $500 for at least one month? But to be actually DD, below $100 for at least one month?

yapizon.com hacked, $5,000,000 in btc stolen.


https://translate.google.com/transla...w.yapizon.com/

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Originally Posted by Sanlmar

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Originally Posted by snake_in_the_ass

I am testing the Bitcoin ATM and linked to the BitGo wallet. BitGo transaction log says the blockchain fee to send $100 is 72.5 cents. And for $120 it was $1.90. Are these fees normal? With those type of fees, it is impossible to make money if anyone wants to come into the store and buy a small amount of bitcoin. I am a rookie when it comes to Bitcoins, any help would be appreciated.

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That's what BitGo has to pay to get your Bitcoin off the blockchain. That's your overhead to spit Bitcoin out the chute.

You are programming that thing to charge a 8 or 9% fee - minimum. Do not be shy. Your market is similar to the payday loan/check cashing crowd. No financial presence or too lazy to dance with CoinBase etc.

Go to LibertyX web site and punch a few locations. They are a competitor of yours with a website. Walk in with cash - walk out with Bitcoin. The site will reveal each outlet's fee. This is typical.

Those guys have a far far cheaper terminal too.

Get Tyde to create a corresponding website for you.

If you stuck that thing in a casino or a poker room that would be a very interesting experiment. That too is your drug sniffing, money swapping, online gambling target market. (That meeting with the property mgr would be THE most interesting meeting you ever had BTW)

You have very little time to lose before Bitcoins are DD.

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I went to a liquor store yesterday that had a Bitcoin ATM charging 17% markup. Owner told me it was super busy.

If you set up the machines correctly, a correction shouldn't burn ATM operators. Not worried if the price tanks.

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Originally Posted by snake_in_the_ass

I went to a liquor store yesterday that had a Bitcoin ATM charging 17% markup. Owner told me it was super busy.

If you set up the machines correctly, a correction shouldn't burn ATM operators. Not worried if the price tanks.

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I thought my post was pretty good. Placing machines near gamblers - particularly poker players - felt pretty inspired.

The Bitcoins are DD tag line was humor given the current price .... yet this is what you two respond to.

Mumbles, that curious rash you've got - it's your sensitivity to bitcoin.

This thread just isn't fun any more.

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Originally Posted by Sanlmar

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Originally Posted by snake_in_the_ass

I went to a liquor store yesterday that had a Bitcoin ATM charging 17% markup. Owner told me it was super busy.

If you set up the machines correctly, a correction shouldn't burn ATM operators. Not worried if the price tanks.

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I thought my post was pretty good. Placing machines near gamblers - particularly poker players - felt pretty inspired.

The Bitcoins are DD tag line was humor given the current price .... yet this is what you two respond to.

Mumbles, that curious rash you've got - it's your sensitivity to bitcoin.

This thread just isn't fun any more.

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A part of me thinks bitcoins will crash once I install the machine and push the power button.

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Originally Posted by snake_in_the_ass

A part of me thinks bitcoins will crash once I install the machine and push the power button.

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http://www.youtube.com/watch?v=oEjUqG2lX88

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Originally Posted by sonatine

yapizon.com hacked, $50,000,000 in btc stolen.


https://translate.google.com/transla...w.yapizon.com/

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You can't even multiply 2 numbers without being off by a magnitude?

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Originally Posted by donkdowndonedied

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Originally Posted by sonatine

yapizon.com hacked, $50,000,000 in btc stolen.


https://translate.google.com/transla...w.yapizon.com/

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You can't even multiply 2 numbers without being off by a magnitude?

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100% my fault for cribbing a headline from indians without proofreading.

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Originally Posted by sonatine

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Originally Posted by donkdowndonedied

You can't even multiply 2 numbers without being off by a magnitude?

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100% my fault for cribbing a headline from indians without proofreading.

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It is your fault for posting in this thread. It is an embarrassment and painful.

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Originally Posted by donkdowndonedied

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Originally Posted by sonatine

100% my fault for cribbing a headline from indians without proofreading.

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It is your fault for posting in this thread. It is an embarrassment and painful.

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yes a lot of people got hurt by bitcoins going donkdown.

how embarrassing.

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Originally Posted by sonatine

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Originally Posted by donkdowndonedied

It is your fault for posting in this thread. It is an embarrassment and painful.

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yes a lot of people got hurt by bitcoins going donkdown.

how embarrassing.

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their sides suffered irreparable damage.

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Originally Posted by sonatine

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Originally Posted by donkdowndonedied

It is your fault for posting in this thread. It is an embarrassment and painful.

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yes a lot of people got hurt by bitcoins going donkdown.

how embarrassing.

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"hey bro, you holdin any coin?"

This is what future bums will mumble under their dragon breath as they try to jab their USB 5.0 into your system, or maybe send some kind of silent wireless request to your brain that your brain's security respond to with a claim that you left your wallet at home, etc.

Not donkdown and climbing. Maybe another crash but it will survive.

Going live tomorrow, here is what one of the machines looks like:

Gooks are gonna make a sharp left at the fork, get out while you can.


But in case you didn't head the warning, don't worry, cryptocurrencies are here to stay, word around the conspiracy water cooler is that bitcoin is the trojan horse for a cashless society, but its going to crash heavy then bounce back.

just tried making a small purchase on coinbase with my debit card (always been instant) but it says my purchase was "successful" but then I go to dashboard and I have nothing in there... also nothing was taken from my bank account


can somebody else try making an instant purchase maybe? I wonder what is going on here....

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Originally Posted by sonatine

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Originally Posted by donkdowndonedied

It is your fault for posting in this thread. It is an embarrassment and painful.

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yes a lot of people got hurt by bitcoins going donkdown.

how embarrassing.

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Tine will be lying on his bed dying from a massive MI and still be screaming bitcoins are donkdown even has he goes DD himself.. Hey fatty.. Its at $1450 fucker.. Oh and apparently got email yesterday a University in Europe is now offering a Masters Degree in Cryptocurrency. See.. Your assumption continues to be the US and others will somehow force Bitcoin to become donkdown as it threatens their fiat currency scam they've been running for 100+ yrs now.. Your assumption is flawed because the genie is outta the bottle.. Pandora has escaped and the countries cant put it back in the bottle now. In fact the Govt manipulation of fiat currencies only tends to drive the prices higher on cryptos.

Ultimately bitcoin will become the Laser Disc of cryptocurrency.

Correct concept, antiquated and flawed execution.

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Originally Posted by Dan Druff

Ultimately bitcoin will become the Laser Disc of cryptocurrency.

Correct concept, antiquated and flawed execution.

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CASE CLOSED.

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Originally Posted by Dan Druff

Ultimately bitcoin will become the Laser Disc of cryptocurrency.

Correct concept, antiquated and flawed execution.

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That's kinda the only possible end game for BTC. I'm fairly sure it was concluded about 100 pages ago.

For legitimate use BTC is just too volatile, slow and not nearly secure enough (exchanges particularly). If it ever gains enough popularity for anyone to bother the relevant parts of the tech are just stolen/modified with proper backing of some kind.

There's a bit of value in being the first popular cryptocurrency, but in reality it's a lot less than people give credit to it.

All this has been played out in many ways with online poker sites and payment processors in recent history.

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Originally Posted by Dan Druff

Ultimately bitcoin will become the Laser Disc of cryptocurrency.

Correct concept, antiquated and flawed execution.

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Until then $1470

As much as you and 'tine hate bitcoins, they are going to be around a while yet. $24 billion market cap won't go away easily.

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Originally Posted by simpdog

$24 billion market cap won't go away easily.

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Beanie babies is this true?

I know people who deposited bitcoin into some online sportsbooks who went on to crush strikeout props. By the time they got shut off and went to withdraw the barely got any more bitcoin then they deposited.

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Originally Posted by Daly

I know people who deposited bitcoin into some online sportsbooks who went on to crush strikeout props. By the time they got shut off and went to withdraw the barely got any more bitcoin then they deposited.

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How is this possible? Did they use a Bitcoin ATM and pay 30% fees before depositing?

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Originally Posted by sonatine

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Originally Posted by simpdog

$24 billion market cap won't go away easily.

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Beanie babies is this true?

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Ice Juice

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Originally Posted by gimmick

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Originally Posted by Dan Druff

Ultimately bitcoin will become the Laser Disc of cryptocurrency.

Correct concept, antiquated and flawed execution.

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That's kinda the only possible end game for BTC. I'm fairly sure it was concluded about 100 pages ago.

For legitimate use BTC is just too volatile, slow and not nearly secure enough (exchanges particularly). If it ever gains enough popularity for anyone to bother the relevant parts of the tech are just stolen/modified with proper backing of some kind.

There's a bit of value in being the first popular cryptocurrency, but in reality it's a lot less than people give credit to it.

All this has been played out in many ways with online poker sites and payment processors in recent history.

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no to the deathnell prediction

privacy is taken for granted i'd say but the ones trying to preserve it have seen a light
and you can't unsee something