Bitcoins are officially donkdown

[Cokehead]

Micon always seemed to be actually very conservative in terms of spending. He was never one to throw money around or be into swag culture. I think that's partly why him and Druff got along. Even when Micon was doing well financially he was pretty cheap. I mean can anyone really think of a single post he made bragging about his money? The big difference between him and druff though is that Micon takes big risks in terms of ROI. He's not afraid to throw out big money into reckless things if he feels he can get a strong return.

Also being in your 30's and having 500k is not entirely unusual. My partner and myself have relatively middle class jobs and are not that far off and certainly will by the time we are 40. Yet we live very modestly. Really comes down to lifestyle.

Exactly!! What the hell are people talking about him "making it rain" if he hit it big?? How he was always a "big spender" in the past? When? Who? Where? Bullshit.

And in that last tweet he just said exactly what I presumed...that he has not cashed out much if any of his stash. He is riding this wave as far as possible and will wait for signs of a decline before selling. It isn't like it will go from 12 fucking hundred down to nothing overnight.

Micon is rich, get the fuck over it people.

the tweet is his excuse for why he needs wsop stakes & why he has his whole fam living like they are on the poverty line.

in fact the tweet itself is border line retarded. so if btc went to 10k he still sells none, even though they are worth 10 milly according to what u guys think he has? rofl

you need to stop believing everything ppl on the net tweet.

[sonatine]

yeah theres the gambling prob too, like we saw in that video belly buster posted. great point.

edit:

micon's slot affinity brought about the biggest seismic forum event since black friday so really its just a solid 100% guaranteed given that any convo about micons finances is predicated on that.

but the general assumption is that if that was still in play, martha wouldnt be sticking around for that shit for a heart beat.

[zealanddonk]

18 months ago, Micon burns off Drexel because Drexel wont let him a measly $3000.
14 months ago Micon mooching around for Wsop stakes.
???
6 months ago Micon mooching around for Wsop stakes.

Granted he could have purchased 1000 bitcoins for $5 back in January but we've seen him donk them off on idiotic prop bets where he took forever to "clear" them, and donk them off on various gambling platforms. He shows an amazing lack of discipline in just about every other aspect of his life I cant see him holding onto so many coins for so long.

Also don't forget how hairy things got for him back when they were at 200 and took a dive, I wouldn't be surprised if he sold most of them and possibly bought some back when they bottomed out.

I think most people are optimistically confusing Micon's private stash with however many coins there are on Sealswithclubs.

[NaturalBornHustler]

18 months ago, Micon burns off Drexel because Drexel wont let him a measly $3000.
14 months ago Micon mooching around for Wsop stakes.
???
6 months ago Micon mooching around for Wsop stakes.

Granted he could have purchased 1000 bitcoins for $5 back in January but we've seen him donk them off on idiotic prop bets where he took forever to "clear" them, and donk them off on various gambling platforms. He shows an amazing lack of discipline in just about every other aspect of his life I cant see him holding onto so many coins for so long.

Also don't forget how hairy things got for him back when they were at 200 and took a dive, I wouldn't be surprised if he sold most of them and possibly bought some back when they bottomed out.

I think most people are optimistically confusing Micon's private stash with however many coins there are on Sealswithclubs.

How was he able to escrow 200BTC this past summer on some degen bet is he was flat bitcoin broke?

Explain that one.

[Baron Von Strucker]

I am realizing here that on a forum full of micon haters, most posts are scratching for morsels of fail for what Micon has archived, I think this attitude is normal most would feel when they have realized they were that close to drinking the bitcoin coolaid and dident because of personal feelings. I personally think that if Druff micon and Brandon dident split and some how maintained there relationship, more of us would have been on the bitcoin flight.
So I guess it is ok to be jealous and pick apart micons life and Guess what he is worth and point out his flaws to make you feel better about your selves.

[yaahello]

who cares if he has a milly or busted all his bitcoins, like really who fuckin cares

[Sanlmar]

16:9 (Canadian version of Dateline) doing a special on Canadian millionaires from bitcoin right now. Definitely blowing up huge in media.

Thanks for the post BetCheck.

http://globalnews.ca/national/program/16x9

It was an interesting view. Important only because it is a bell weather for public interest. If I were a market maker like the Winkelvii I would sell into this level of hype and interest.

The piece dares not address the elephant in the room. It's a bubble. Prices have nothing to do with bar owners accepting payment for dirty martinis with BTC

If the piece had examined Bitcoin as a speculative bubble that would be pretty compelling tv. Piss some people off, scare some others and spark interest in the late to the party gamblers.

This is the shoeshine boy stuff I want to see. When Druff's hairdresser wants to discuss Bitcoin while doing his next perm it's time to sell.

[Cokehead]

18 months ago, Micon burns off Drexel because Drexel wont let him a measly $3000.
14 months ago Micon mooching around for Wsop stakes.
???
6 months ago Micon mooching around for Wsop stakes.

Granted he could have purchased 1000 bitcoins for $5 back in January but we've seen him donk them off on idiotic prop bets where he took forever to "clear" them, and donk them off on various gambling platforms. He shows an amazing lack of discipline in just about every other aspect of his life I cant see him holding onto so many coins for so long.

Also don't forget how hairy things got for him back when they were at 200 and took a dive, I wouldn't be surprised if he sold most of them and possibly bought some back when they bottomed out.

I think most people are optimistically confusing Micon's private stash with however many coins there are on Sealswithclubs.

How was he able to escrow 200BTC this past summer on some degen bet is he was flat bitcoin broke?

Explain that one.

ok sure ill explain it.

micon made the bet in january. btc was around 13 bucks then, so he bet $2600. it only became 20k when it was time to pay it. could have easily bought them himself for the escrow or borrowed the $ to buy them.

[sonatine]

i dont have details yet, but a major deepweb marketplace admin just disabled withdrawls and walked off with $45,000,000 worth of bitcoins.

[sonatine]

i dont have details yet, but a major deepweb marketplace admin just disabled withdrawls and walked off with $45,000,000 worth of bitcoins.

this is getting incredible fast.

said admin got doxxed and right now an entire planet of online drug dealers are actively looking to assassinate him.

[sonatine]

i dont have details yet, but a major deepweb marketplace admin just disabled withdrawls and walked off with $45,000,000 worth of bitcoins.

this is getting incredible fast.

said admin got doxxed and right now an entire planet of online drug dealers are actively looking to assassinate him.

Im moving this to its own thread because this is fucking insane.

[rum dick]

Lol. Wat? Pretty sure i wanted to do this like six months ago.


Also the economist's take on bitcoins. Pretty good stuff:


http://www.economist.com/news/techno...lar-and-highly

[sonatine]

[sonatine]

UH OHHHHHHHHH

[Dan Druff]

All Paul Walker aside, I don't see any indication that BTC fell below 1000 today. It had a slight fall to 1100 or so, and now sits at 1154.

Serious question about mining, though:

I know that mining gets tougher as more bitcoins are produced, and as more miners go at the process.

I also know that regular machines -- and even excellent graphics cards -- will no longer cut it for mining. You pretty much need one of those ASIC devices, like the one sold by Butterfly Labs.

But with the sharp rise in BTC value, is mining worth it now? If I bought an ASIC machine from Butterfly and ran it 24/7, would I waste more money in electricity than I would ever see in BTC mined?

[Dan Druff]

LOL only $22,484:

https://products.butterflylabs.com/h...oin-miner.html

[zealanddonk]

Pretty sure Micon said they were a scam as well, probably cheaper ways to create one but you'd have to have a lot of faith the price wasn't going to drop.

[Salty_Aus]

All Paul Walker aside, I don't see any indication that BTC fell below 1000 today. It had a slight fall to 1100 or so, and now sits at 1154.

Serious question about mining, though:

I know that mining gets tougher as more bitcoins are produced, and as more miners go at the process.

I also know that regular machines -- and even excellent graphics cards -- will no longer cut it for mining. You pretty much need one of those ASIC devices, like the one sold by Butterfly Labs.

But with the sharp rise in BTC value, is mining worth it now? If I bought an ASIC machine from Butterfly and ran it 24/7, would I waste more money in electricity than I would ever see in BTC mined?

The best offering from Butterfly labs appears to be the Monarch, if they do deliver when promised you should be able to make a profit.
In my opinion, this is the only option from Butterfly Labs worth considering. But I seriously doubt if BL will deliver as promised on the expected date. They are notorious for promising too much, they initially said the Monarch would be available in December 2013 and then they said January, now they say unknown.

Most of the hardware is sold on a pre-order basis which I seriously dislike.
Some companies are much more reputable then others, be careful and do research on what they have already delivered in the past.

Here is a good site to do some research, you can chose an option and it will tell you expected earnings after running costs etc.
http://mining.thegenesisblock.com/

[TheXFactor]

All Paul Walker aside, I don't see any indication that BTC fell below 1000 today. It had a slight fall to 1100 or so, and now sits at 1154.

Serious question about mining, though:

I know that mining gets tougher as more bitcoins are produced, and as more miners go at the process.

I also know that regular machines -- and even excellent graphics cards -- will no longer cut it for mining. You pretty much need one of those ASIC devices, like the one sold by Butterfly Labs.

But with the sharp rise in BTC value, is mining worth it now? If I bought an ASIC machine from Butterfly and ran it 24/7, would I waste more money in electricity than I would ever see in BTC mined?

Forget it, I looked into this a few weeks ago.

ASICminer owns millions of dollars worth of server farms all over the world,
dedicated to only mining Bitcoins.

They also sell computer boards and usb devices that will help you mine Bitcoins.

Everyone that I know who has expensive computer equipment to mine Bitcoins
isn't making jack shit, maybe a hundred dollars a month.

ASICminer is making hundreds of thousands of dollars per day now.

[BetCheckBet]

One thing I'm wondering is how many bitcoins sealswithclubs has sitting in dead accounts. Its very common for lots of accounts on poker sites to be abandoned with like 5-10 bucks in them (see Weiss) but with super hyper deflation doormant accounts from two years ago could be worth thousands or tens of thousands of dollars... would not be surprised to see at least 50-100BTC sitting in there or even much more. If these accounts are not claimed I would guess seals keeps the money (but do they cash them out before the crash?).