Bitcoins are officially donkdown

[Sanlmar]

bitcoin is primarily a tool designed for me to funnel money to the bovada blackjack table

I haven’t deposited to an offshore site in a while. But I am seeing stuff about really high fees now. I got a random email from my wallet pointing out that I can now vary the fee I am willing to tip the miners.

What I took away was that I don’t want to withdraw from the book with the idea that I can just ship it back painlessly later. The fees should make me think twice.

On the other hand, Betonline sent me an email encouraging litecoin and ethereum and maybe something else like dogecoin.

I have no fucking idea what LTC & ETH fees are presently but maybe BTC is dead as far as online blackjack is concerned

[BlunderMaker]

bitcoin is primarily a tool designed for me to funnel money to the bovada blackjack table

I haven’t deposited to an offshore site in a while. But I am seeing stuff about really high fees now. I got a random email from my wallet pointing out that I can now vary the fee I am willing to tip the miners.

What I took away was that I don’t want to withdraw from the book with the idea that I can just ship it back painlessly later. The fees should make me think twice.

On the other hand, Betonline sent me an email encouraging litecoin and ethereum and maybe something else like dogecoin.

I have no fucking idea what LTC & ETH fees are presently but maybe BTC is dead as far as online blackjack is concerned

Just checked and saw that BOL does indeed take ETH now. Interesting.

[Belly Buster]

In this day and age if you lose your coin you are a fuckwit. Buy a trezor or a ledger nano S; keep hold of your own coin / private keys. Don't be a twat.

[GambleBotsChafedPenis]

ill give ol bob this...the selling effect is real when it happens...

its the same as a commodity market being cornered except this is much worse...theres no way to punish the whales who have this cornered because there's no mechanism to short...these guys decide at some point to get out (ill concede that I don't think this is a great probability given the whales who hold the float) youll see a cascade effect thatll make your head spin...

[Belly Buster]

ill give ol bob this...the selling effect is real when it happens...

its the same as a commodity market being cornered except this is much worse...theres no way to punish the whales who have this cornered because there's no mechanism to short...these guys decide at some point to get out (ill concede that I don't think this is a great probability given the whales who hold the float) youll see a cascade effect thatll make your head spin...

[sonatine]

http://dfw.cbslocal.com/2017/12/12/b...es-investment/


honestly i wonder if this is exactly what china was waiting for before the yank the rug.

https://www.wsj.com/articles/the-for...ors-1513074750


im just saying, china waiting to guthook greedy american fuckups before they deflate price and wipe out a substantial portion of the middle class's wealth is not exactly far fetched.

[Scandinavian Bob]

ill give ol bob this...the selling effect is real when it happens...

its the same as a commodity market being cornered except this is much worse...theres no way to punish the whales who have this cornered because there's no mechanism to short...these guys decide at some point to get out (ill concede that I don't think this is a great probability given the whales who hold the float) youll see a cascade effect thatll make your head spin...

The Whales really can't dump because there is no real liquidity in the system. I go back to my question, has there been a documented case (at least recently) where someone cashed in 500 bitcoins for $8,000,000 (today's prices). No bank is going to make that transaction, so it's third party unregulated exchanges. They literally would have to have billions of USD$ in their coffers just to handle a potential surge and run on withdraws for liquidity.

This whole "liquid gold" is just bullshit. Real gold gets stored value because half of it on an annual basis gets made into jewelry. There are 3 Billion women on this planet and they love gold jewels, not to mention wedding rings. A bitcoin is a sequence of numbers, there is no intrinsic value in that, unless you drink koolaid and the value is in the electricity it takes to "mine it".

It's hard to believe we are wasting huge amounts of electricity worldwide to make something as useless as bitcoin. What a waste of resources.

[Belly Buster]

ill give ol bob this...the selling effect is real when it happens...

its the same as a commodity market being cornered except this is much worse...theres no way to punish the whales who have this cornered because there's no mechanism to short...these guys decide at some point to get out (ill concede that I don't think this is a great probability given the whales who hold the float) youll see a cascade effect thatll make your head spin...

The Whales really can't dump because there is no real liquidity in the system. I go back to my question, has there been a documented case (at least recently) where someone cashed in 500 bitcoins for $8,000,000 (today's prices). No bank is going to make that transaction, so it's third party unregulated exchanges. They literally would have to have billions of USD$ in their coffers just to handle a potential surge and run on withdraws for liquidity.

This whole "liquid gold" is just bullshit. Real gold gets stored value because half of it on an annual basis gets made into jewelry. There are 3 Billion women on this planet and they love gold jewels, not to mention wedding rings. A bitcoin is a sequence of numbers, there is no intrinsic value in that, unless you drink kooliad and the value is in the electricity it takes to "mine it".

It's hard to believe we are wasting huge amounts of electricity to make something as useless as bitcoin.

Just watch the exchanges. 1000s of BTC pass around every hour.

You have no clue.

[GambleBotsChafedPenis]

ill give ol bob this...the selling effect is real when it happens...

its the same as a commodity market being cornered except this is much worse...theres no way to punish the whales who have this cornered because there's no mechanism to short...these guys decide at some point to get out (ill concede that I don't think this is a great probability given the whales who hold the float) youll see a cascade effect thatll make your head spin...

The Whales really can't dump because there is no real liquidity in the system. I go back to my question, has there been a documented case (at least recently) where someone cashed in 500 bitcoins for $8,000,000 (today's prices). No bank is going to make that transaction, so it's third party unregulated exchanges. They literally would have to have billions of USD$ in their coffers just to handle a potential surge and run on withdraws for liquidity.

This whole "liquid gold" is just bullshit. Real gold gets stored value because half of it on an annual basis gets made into jewelry. There are 3 Billion women on this planet and they love gold jewels, not to mention wedding rings. A bitcoin is a sequence of numbers, there is no intrinsic value in that, unless you drink koolaid and the value is in the electricity it takes to "mine it".

It's hard to believe we are wasting huge amounts of electricity worldwide to make something as useless as bitcoin. What a waste of resources.

thing is you can always dump into any market in the world 99% of the time unless shit just is absolutely locked...if somebody wanted to come along and dump 10K BTC into the market at market price they could...wouldn't get $17K for each coin, but you could sure as shit do it...

[Scandinavian Bob]

The Whales really can't dump because there is no real liquidity in the system. I go back to my question, has there been a documented case (at least recently) where someone cashed in 500 bitcoins for $8,000,000 (today's prices). No bank is going to make that transaction, so it's third party unregulated exchanges. They literally would have to have billions of USD$ in their coffers just to handle a potential surge and run on withdraws for liquidity.

This whole "liquid gold" is just bullshit. Real gold gets stored value because half of it on an annual basis gets made into jewelry. There are 3 Billion women on this planet and they love gold jewels, not to mention wedding rings. A bitcoin is a sequence of numbers, there is no intrinsic value in that, unless you drink kooliad and the value is in the electricity it takes to "mine it".

It's hard to believe we are wasting huge amounts of electricity to make something as useless as bitcoin.

Just watch the exchanges. 1000s of BTC pass around every hour.

You have no clue.

And how many of those 1000,s can/are converted to USD$? It's all paper gains until you can see it in your bank account without government interference.

[snake_in_the_ass]

bitcoin is primarily a tool designed for me to funnel money to the bovada blackjack table

I haven’t deposited to an offshore site in a while. But I am seeing stuff about really high fees now. I got a random email from my wallet pointing out that I can now vary the fee I am willing to tip the miners.

What I took away was that I don’t want to withdraw from the book with the idea that I can just ship it back painlessly later. The fees should make me think twice.

On the other hand, Betonline sent me an email encouraging litecoin and ethereum and maybe something else like dogecoin.

I have no fucking idea what LTC & ETH fees are presently but maybe BTC is dead as far as online blackjack is concerned

I paid 25 cents to send LTC to bookmaker last night.

[snake_in_the_ass]

Has there been any volume on large conversions from bitcoin to USD$? I am not talking about bleeding out a couple thousand a week on an exchange or some mysterious transaction from one guy to another. I guess what I am asking has there been an event where someone just handed over a flashdrive to a bank and walked out with a million bucks, either in person or in a documented transaction. In other words, here is 500 hundred bitcoins, give me millions in cash right now, either in person or internet in real time.

Aside from the accidental idiot who binked something ... big trades like the ones of your daydreams happen in dark pools away from the public exchanges.

I mean exchanges sponsor Dark Pools sometimes but its private

Neither side wants to upset a thin market and collapse or spike prices.

So you never know the truly tasty trades.

Google Dark Pools and enjoy.

The Jews in New York can unload 500 BTC for you if you want.

[snake_in_the_ass]

In this day and age if you lose your coin you are a fuckwit. Buy a trezor or a ledger nano S; keep hold of your own coin / private keys. Don't be a twat.

I have yet to hear of anyone losing their coins from an app installed on their phone.

[Scandinavian Bob]

The Whales really can't dump because there is no real liquidity in the system. I go back to my question, has there been a documented case (at least recently) where someone cashed in 500 bitcoins for $8,000,000 (today's prices). No bank is going to make that transaction, so it's third party unregulated exchanges. They literally would have to have billions of USD$ in their coffers just to handle a potential surge and run on withdraws for liquidity.

This whole "liquid gold" is just bullshit. Real gold gets stored value because half of it on an annual basis gets made into jewelry. There are 3 Billion women on this planet and they love gold jewels, not to mention wedding rings. A bitcoin is a sequence of numbers, there is no intrinsic value in that, unless you drink koolaid and the value is in the electricity it takes to "mine it".

It's hard to believe we are wasting huge amounts of electricity worldwide to make something as useless as bitcoin. What a waste of resources.

thing is you can always dump into any market in the world 99% of the time unless shit just is absolutely locked...if somebody wanted to come along and dump 10K BTC into the market at market price they could...wouldn't get $17K for each coin, but you could sure as shit do it...

See this is game theory: "You could do this, to get that". If you have 10,000 bitcoins and your cost average is $12,000, and half go at $1,000 what is your point then?

There are 21M bitcoins total in year 2140, there are 15M mined today. 4 Million (by a lot of reports) are lost in translation. So you have a market of 11M today. If you believe the reports, and they are sketchy for sure, 40% owns the float.

This has the be the most riskiest and worst investment on the planet. As a bonus, there is very little documented (if any) conversion to USD$ on anything other than a small retail scale.

[big dick]

ill give ol bob this...the selling effect is real when it happens...

its the same as a commodity market being cornered except this is much worse...theres no way to punish the whales who have this cornered because there's no mechanism to short...these guys decide at some point to get out (ill concede that I don't think this is a great probability given the whales who hold the float) youll see a cascade effect thatll make your head spin...

The Whales really can't dump because there is no real liquidity in the system. I go back to my question, has there been a documented case (at least recently) where someone cashed in 500 bitcoins for $8,000,000 (today's prices). No bank is going to make that transaction, so it's third party unregulated exchanges. They literally would have to have billions of USD$ in their coffers just to handle a potential surge and run on withdraws for liquidity.

This whole "liquid gold" is just bullshit. Real gold gets stored value because half of it on an annual basis gets made into jewelry. There are 3 Billion women on this planet and they love gold jewels, not to mention wedding rings. A bitcoin is a sequence of numbers, there is no intrinsic value in that, unless you drink koolaid and the value is in the electricity it takes to "mine it".

It's hard to believe we are wasting huge amounts of electricity worldwide to make something as useless as bitcoin. What a waste of resources.

You said the same shit the otherday fag

[Belly Buster]

In this day and age if you lose your coin you are a fuckwit. Buy a trezor or a ledger nano S; keep hold of your own coin / private keys. Don't be a twat.

I have yet to hear of anyone losing their coins from an app installed on their phone.

Would agree that is mostly safe but what if you lose your phone?

[snake_in_the_ass]

Just watch the exchanges. 1000s of BTC pass around every hour.

You have no clue.

And how many of those 1000,s can/are converted to USD$? It's all paper gains until you can see it in your bank account without government interference.

Seems like your major concern is that you believe Ray Bitar is running coinbase and Joe Sebok is running Gemini.

[Scandinavian Bob]

The Whales really can't dump because there is no real liquidity in the system. I go back to my question, has there been a documented case (at least recently) where someone cashed in 500 bitcoins for $8,000,000 (today's prices). No bank is going to make that transaction, so it's third party unregulated exchanges. They literally would have to have billions of USD$ in their coffers just to handle a potential surge and run on withdraws for liquidity.

This whole "liquid gold" is just bullshit. Real gold gets stored value because half of it on an annual basis gets made into jewelry. There are 3 Billion women on this planet and they love gold jewels, not to mention wedding rings. A bitcoin is a sequence of numbers, there is no intrinsic value in that, unless you drink koolaid and the value is in the electricity it takes to "mine it".

It's hard to believe we are wasting huge amounts of electricity worldwide to make something as useless as bitcoin. What a waste of resources.

You said the same shit the otherday fag

Dude this is an adult thread. If you want to troll, find another thread or go back to Roy Moore thread where I owned your life. Better yet, get your grocery list ready and hang out at your local supermarket tomorrow morning with the other wives drinking coffee and sharing shopping tips.

[GambleBotsChafedPenis]

thing is you can always dump into any market in the world 99% of the time unless shit just is absolutely locked...if somebody wanted to come along and dump 10K BTC into the market at market price they could...wouldn't get $17K for each coin, but you could sure as shit do it...

See this is game theory: "You could do this, to get that". If you have 10,000 bitcoins and your cost average is $12,000, and half go at $1,000 what is your point then?

There are 21M bitcoins total in year 2140, there are 15M mined today. 4 Million (by a lot of reports) are lost in translation. So you have a market of 11M today. If you believe the reports, and they are sketchy for sure, 40% owns the float.

This has the be the most riskiest and worst investment on the planet. As a bonus, there is very little documented (if any) conversion to USD$ on anything other than a small retail scale.

youre talking about being able to liquidate 10K BTC...you can, but the market isn't deep enough to do it at current prices so you're gonna have to go way down the bids to find enough volume to fill...there is definitely a way to fill a 10K BTC order if you want actual cash, but just don't expect to do it at quote or anywhere near it...

and I get your point...no you cant liquidate an order that big at current market prices...

[Scandinavian Bob]

See this is game theory: "You could do this, to get that". If you have 10,000 bitcoins and your cost average is $12,000, and half go at $1,000 what is your point then?

There are 21M bitcoins total in year 2140, there are 15M mined today. 4 Million (by a lot of reports) are lost in translation. So you have a market of 11M today. If you believe the reports, and they are sketchy for sure, 40% owns the float.

This has the be the most riskiest and worst investment on the planet. As a bonus, there is very little documented (if any) conversion to USD$ on anything other than a small retail scale.

youre talking about being able to liquidate 10K BTC...you can, but the market isn't deep enough to do it at current prices so you're gonna have to go way down the bids to find enough volume to fill...there is definitely a way to fill a 10K BTC order if you want actual cash, but just don't expect to do it at quote or anywhere near it...

and I get your point...no you cant liquidate an order that big at current market prices...

Right, so we agree its NOT a currency. It's a loss producing asset. In that you cannot buy anything with it (say a BMW), and when you try to sell it at current prices there is a chance it diminishes its value before you can close on it.

I hate to say it, but this is online poker. You deposit, and hope you win, and more than hope you get your money off the site into your bank account if you do win. How crazy. This is probably why Micon was so drawn to it, he understands the massive risk and downside.

When you think about it, Druff could probably start an exchange on this site. Not poker related, just exchanges, which to my knowledge are legal.