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Thread: Bitcoins are officially donkdown

  1. #3961
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    Quote Originally Posted by Sanlmar View Post
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    Tyler & Cameron Winklevoss



    The $11 million in bitcoins the Winklevoss brothers bought is now worth $32 million

    edit: at time of article BTC trading $350 now $750... Now worth $68.5 million
    http://www.washingtonpost.com/blogs/...th-32-million/

    A source close to the Winklevii says the brothers now hold 1 percent of all Bitcoins in circulation...

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  2. #3962
    Platinum duped_samaritan's Avatar
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    Quote Originally Posted by DRK Star View Post
    https://www.bloomberg.com/news/artic..._medium=social

    Bitcoin Mining Service NiceHash Says Hackers Emptied Its Wallet


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    If this was a 'cloud' mining service, it was almost certainly a scam from the beginning anyway.

    I don't see how any cloud mining site could ever be anything other than a ponzi.

  3. #3963
    Plutonium Sanlmar's Avatar
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    Recently, you woulda gotten similar results betting Vikings or Patriots ATS last 6 games.

    A sextuple in 6 weeks

    Why does this gambling thread get more love?

  4. #3964
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    Quote Originally Posted by Sanlmar View Post
    Recently, you woulda gotten similar results betting Vikings or Patriots ATS last 6 games.

    Why does this gambling thread get more love?

    Tom and Bill have paid for a lot of things for me and I am eternally grateful

  5. #3965
    Plutonium Sanlmar's Avatar
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    Quote Originally Posted by OSA View Post
    Quote Originally Posted by Sanlmar View Post
    Recently, you woulda gotten similar results betting Vikings or Patriots ATS last 6 games.

    Why does this gambling thread get more love?

    Tom and Bill have paid for a lot of things for me and I am eternally grateful
    The difference is Tom & Bill have sound fundamentals

    The irony is you get paid in Bitcoin.

    What Tom & Bill do is often illegal so we have that in common.
    Last edited by Sanlmar; 12-07-2017 at 10:00 AM.

  6. #3966
    Nova Scotia's #1 Party Rocker!!!!11 DJ_Chaps's Avatar
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    man, i sent some scraps from my blockchain to localbitcoins last night. still hasnt gone thru. wtf?
    --------------------------------------------------------------------------------------------
    Chaps' 2017-18 NFL $$ Thread

  7. #3967
    Plutonium Sanlmar's Avatar
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    Quote Originally Posted by DJ_Chaps View Post
    man, i sent some scraps from my blockchain to localbitcoins last night. still hasnt gone thru. wtf?
    You didn’t tip the dealer. Easy read.

    Grease the miners or grab a pillow

  8. #3968
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    Quote Originally Posted by Sanlmar View Post
    Quote Originally Posted by DJ_Chaps View Post
    man, i sent some scraps from my blockchain to localbitcoins last night. still hasnt gone thru. wtf?
    You didn’t tip the dealer. Easy read.

    Grease the miners or grab a pillow
    200,000 unconfirmed transactions. Mining fees are at all time highs, anywhere from $10 to $50 to send. I just paid $18 to send $500 to 5 dimes via mycelium app.

  9. #3969
    Diamond Tellafriend's Avatar
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    Quote Originally Posted by Sanlmar View Post

    Why does this gambling thread get more love?

    The thread really has become mercurial.

  10. #3970
    Plutonium Sanlmar's Avatar
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    Quote Originally Posted by Tellafriend View Post
    Quote Originally Posted by Sanlmar View Post

    Why does this gambling thread get more love?

    The thread really has become mercurial.
    I have this recurring nightmare that this January I let my future run through expiry and I am forced to take possession of bitcoin.

    Sell Mortimer

  11. #3971
    Plutonium Sanlmar's Avatar
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    Quote Originally Posted by snake_in_the_ass View Post
    Quote Originally Posted by Sanlmar View Post

    You didn’t tip the dealer. Easy read.

    Grease the miners or grab a pillow
    200,000 unconfirmed transactions. Mining fees are at all time highs, anywhere from $10 to $50 to send. I just paid $18 to send $500 to 5 dimes via mycelium app.
    That’s really interesting.

    It’s like a waitress spitting on chaps’ food cause he doesn’t tip

  12. #3972
    Plutonium simpdog's Avatar
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    Quote Originally Posted by Sanlmar View Post
    Quote Originally Posted by snake_in_the_ass View Post

    200,000 unconfirmed transactions. Mining fees are at all time highs, anywhere from $10 to $50 to send. I just paid $18 to send $500 to 5 dimes via mycelium app.
    That’s really interesting.

    It’s like a waitress spitting on chaps’ food cause he doesn’t tip
    More like a waitress not coming over to his table at all because he didn't tip last night.

     
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      Sanlmar: Hey, who’s telling the story here? Simpgod

  13. #3973
    Bronze Scandinavian Bob's Avatar
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    Looks like Bulgaria is sitting on $3 Billion in bitcoin it confiscated from a crime syndicate.

    Right now the market cap of bitcoin is $400 Billion. Everything I have read the reason for the meteoric rise is because there are no sellers, just holders and traders. Presumably, this is because the market is illiquid. I mean, its kind of like what happened with a lot of dot.coms in the 90s, you can only sell a small fraction of what you own, because the real cash market does not exist. Is any bank going to cash out 1,000 bitcoins for you at these prices? These exchanges don't have the cash reserves to handle any type of significant cashout.

    I'll admit, I know nothing about the bitcoin trade. Honestly, I don't want to know anything about it. One analyst correctly said it's impossible to value bitcoin because they have no value, as they are not backed by anything other than technical charts.

    I guess if the US and China really want to ruin Bitcoin, it would be pretty easy, just make them illegal to trade given their ties to crime syndicates. Someone might ask how can that happen, in China it would be pretty easy, traders would just start vanishing. In the US, a few Silkroad type stings and that would be the end.

  14. #3974
    Diamond chinamaniac's Avatar
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    Monday will be an interesting day thats for sure

  15. #3975
    Plutonium big dick's Avatar
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    So it might be wise to purchase coins that help process transactions? Any suggestions?

  16. #3976
    Bronze Scandinavian Bob's Avatar
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    I remember circa 1998, geez almost 20 years ago when I thought I was going to be a multi-millionaire by trading dot.com stocks. I was in my first apartment and watching CNBC and I saw an analyst and he was fielding questions. He was older in his 50s and someone like me called him up and asked about CMGI. CMGI was called an "internet incubator" as was worth like $100 B literally. The caller said something of the effect "Is CMGI worth $200 a share or is it over-valued?"

    He calmly looked into the camera and said "I cannot value companies that have no real earnings" and took the next question with nothing further on CMGI. A couple years later CMGI effectively dissolved. I believe Bitcoin will meet the same fate, it has no intrinsic value because as a currency it's not backed by anything. There is a reason why a dollar is worth so much more than a PESO, it is measurable.

    A lot of people are going to get destroyed on bitcoin, but a few will make a ton of money. I think daytrading this 'currency' is so dangerous, its worse than E-Toys back in the day. One day people will wake up and see a 90% erosion and start hanging themselves.

     
    Comments
      
      SetofKs: very true
      
      sah_24: +1 seems spot on
      
      El Gallo: On this, we agree
      
      Tellafriend: I recall all of this well - remember @home?
      
      GringoStar: This only reveals that you and 4 above me don't have a strong grasp on the underlying tech. It is backed by the infrastructure of the Internet.

  17. #3977
    Silver GringoStar's Avatar
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    Quote Originally Posted by HoodedN View Post
    Quote Originally Posted by GringoStar View Post
    Sitting pretty over here. Could not be more glad I did not take Sonatine's sophism seriously.
    Hey what's up weirdo? Does larry own any bitcoins?
    Ad hominem insults and the continual obsession with Larry.

    Looks like this site is still a bunch of grown men focusing their ill-equipped minds on things they claim aren't worth their time.

    This is like the digital version of the back of the comic book store where cocky dorks are playing WarHammer for bragging rights.

  18. #3978
    Plutonium big dick's Avatar
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    Larry is correct imo

  19. #3979
    Plutonium sonatine's Avatar
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    if this thread teaches us nothing else, it has taught us that gringostar is absolutely furious that brandon broke his boyfriends heart.
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  20. #3980
    Silver GringoStar's Avatar
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    Quote Originally Posted by sonatine View Post
    if this thread teaches us nothing else, it has taught us that gringostar is absolutely furious that brandon broke his boyfriends heart.
    Nice deflection. We all know what it teaches us. Your expertise is suspect, at best.

    Also I'm fine with you thinking I am Larry. Whatever helps you cope.

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