Bitcoins are officially donkdown

[OSA]

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.

Any chance Micon owns more money in bitcoin that anyone on this site owns in a bank?

[GambleBotsChafedPenis]

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.

I wouldn't characterize it as a loss producing asset...sure there are people who have cashed out actual USD for these...BTC isn't any more of a loss producing asset than shares of pets.com, theglobe.com were back in the day...

this is definitely a currency...not a widely accepted one, but you can actually transact goods/services with BTC which I believe would fit the definition of a currency...but again it's splitting hairs...

the vast majority of people on PFA who have BTC/LTC/ETH etc are going to be able to transact their stash at prices relatively close to market prices...as long as you keep your holdings at a small % of the float you can make a pretty good buck with this shit because you wont be subject to slippage when liquidating...just like any market, you run the risk of getting it shoved up your ass if you get to be the market...

[sonatine]

nicehash hackers just moved 20m out of their wallet


https://bitinfocharts.com/bitcoin/ad...h6H4t6jh1mB4rq

[Scandinavian Bob]

It's not a currency. Nobody is using it as such, outside a couple retailers wanting publicity. The float is way too small to be a currency. The mathematics deny that fact. A reputable currency cannot fluctuate by 20% in a given day, nor can its float be 11M units held by 40% in Asia.

You are just wrong on this. But I am tired and can't argue on this any longer.

[GambleBotsChafedPenis]

nicehash hackers just moved 20m out of their wallet


https://bitinfocharts.com/bitcoin/ad...h6H4t6jh1mB4rq

you know if that's a lump sum transaction at that price or the average price of transaction?

[Krypt]

It will certainly be interesting to see whether these cryptoassets are truly uncorrelated to the broader equity market. I think the best that BTC/Ether etc. could hope for would be carving out a niche as an uncorrelated hedging instrument.

[Scandinavian Bob]

It will certainly be interesting to see whether these cryptoassets are truly uncorrelated to the broader equity market. I think the best that BTC/Ether etc. could hope for would be carving out a niche as an uncorrelated hedging instrument.

Janet Yellen (FED CHAIR) today said without hesitation, called Bitcoin a risky asset and dismissed it. There were a few questions on it today for her and she did not seem remotely interested, other than saying it was a risky asset with no impact on the broad economy. By questions #4 in the press conference she seem annoyed and wanted to get back to interest rates, but you know reporters.

[snake_in_the_ass]

It will certainly be interesting to see whether these cryptoassets are truly uncorrelated to the broader equity market. I think the best that BTC/Ether etc. could hope for would be carving out a niche as an uncorrelated hedging instrument.

When Crypto's go donkdown, so will the stock market.

[snake_in_the_ass]

nicehash hackers just moved 20m out of their wallet


https://bitinfocharts.com/bitcoin/ad...h6H4t6jh1mB4rq

you know if that's a lump sum transaction at that price or the average price of transaction?

Punch in the bitcoin address into blockchain and you can see some of the transfers. $80 mining fee to move 614 BTC. Pretty cheap.

[Krypt]

Forgive me for I am a bit zooted here sucking my pen, but just came across this quote as I was reading the ol WSJ and it's sort of tripping me out

“In light of elevated asset valuations and low financial market volatility, several participants expressed concerns about a potential buildup of financial imbalances,” further “They worried that a sharp reversal in asset prices could have damaging effects on the economy.” Jerome Powell, in prepared remarks to Congress stated: “(the Fed) will respond with force to threats to the nation’s stability.”

[sonatine]

“(the Fed) will respond with force to threats to the nation’s stability.”

GANG SHIT

[devidee]

XRP has almost doubled since I bought it.

Get on that ripple nipple, son.

[VaughnP]

But what is the real reason for the XRP explosion? Didn't an identical pump and dump happen with Ripple just a few months ago? I want to believe in Ripple, but I don't know.

Can anyone here give an educated guess on which coin is most likely to be added to Coinbase? Apparently there are a few coming soon, and obviously it's a gold mine for whichever does. Bitcoin Cash being added probably shoots it to the fucking moon.

What are the must holds besides the three on coinbase that are unlikely to be listed there? Vertcoin, Ripple, Stellar, what else?

[devidee]

But what is the real reason for the XRP explosion? Didn't an identical pump and dump happen with Ripple just a few months ago? I want to believe in Ripple, but I don't know.

Can anyone here give an educated guess on which coin is most likely to be added to Coinbase? Apparently there are a few coming soon, and obviously it's a gold mine for whichever does. Bitcoin Cash being added probably shoots it to the fucking moon.

What are the must holds besides the three on coinbase that are unlikely to be listed there? Vertcoin, Ripple, Stellar, what else?

I don't understand any of this.

I just bought ripple cause I like the name.

[sonatine]

But what is the real reason for the XRP explosion? Didn't an identical pump and dump happen with Ripple just a few months ago? I want to believe in Ripple, but I don't know.

Can anyone here give an educated guess on which coin is most likely to be added to Coinbase? Apparently there are a few coming soon, and obviously it's a gold mine for whichever does. Bitcoin Cash being added probably shoots it to the fucking moon.

What are the must holds besides the three on coinbase that are unlikely to be listed there? Vertcoin, Ripple, Stellar, what else?

I don't understand any of this.

I just bought ripple cause I like the name.

[devidee]

[Hockey Guy]

I don't understand any of this.

I just bought ripple cause I like the name.

I'm still patiently waiting for that LobsterMac&CheeseCoin to come out.

Stop teasing us & get with it.

[Belly Buster]

But what is the real reason for the XRP explosion? Didn't an identical pump and dump happen with Ripple just a few months ago? I want to believe in Ripple, but I don't know.

Can anyone here give an educated guess on which coin is most likely to be added to Coinbase? Apparently there are a few coming soon, and obviously it's a gold mine for whichever does. Bitcoin Cash being added probably shoots it to the fucking moon.

What are the must holds besides the three on coinbase that are unlikely to be listed there? Vertcoin, Ripple, Stellar, what else?

I don't understand any of this.

I just bought ripple cause I like the name.

Fair.

Likewise my Tittiecoin is through the roof.

https://coinmarketcap.com/currencies/tittiecoin/

[OSA]

PLOL when are you coming out with twinkcoin?

[devidee]

taintcoin gonna spread like wild fire.