Bitcoins are officially donkdown

[GringoStar]

Anyone interested in a $10 bet that the SEC does not approve the Winklevoss ETF on March 11th or before?

I am escrowed with Druff. He or I will ship in Bitcoin although pricing the transaction will be difficult in a falling market.

Riddle

Limit poker player walks into a convenience store and purchases a can of Diet Coke for a dollar with bitcoin. His fees are 32 cents.

Was his purchase made with a currency or was this a nonscaled fee based money transfer?

Until this riddle can be hashed to "currency" the SEC votes no.

Two untimely events:

SHA1 has been hacked.

Cloudflare was hacked. Turns out it was a repository of a great number of BTC exchange logins.

PayPal isn't a currency, it merely houses and transfers currency. BitCoin is a currency because the value is independent, or at least nonparallel, with government currency.

The value of a PayPal balance remains exactly the same value as whatever external currency it represents, but BitCoin value fluctuates based on speculation and, most importantly, on scarcity. In some ways, BitCoin is more of a true currency, in that way, than the US dollar, which is no longer tied to any real-world, scarce commodity.

[GringoStar]

I'm predicting a run to $5000+

Not me. I think bitcoins are going to get crushed in March/April.

Based on what?

You know not what you say. It won't hit 5k yet, as it will probably crash again down to 4-500, but getting crushed in a month or two? No.

[BeerAndPoker]

Limit poker player walks into a convenience store and purchases a can of Diet Coke for a dollar with bitcoin. His fees are 32 cents.

Had to stop right there because this always has annoyed me in life when I see people pay big fees (percentage wise) on tiny purchases.

When I was young working this job I knew a guy who went to an atm everyday that was not through his bank and took out $10 or $20 for lunch (whatever the minimum was). I'm like dude you are paying an insane rate per day in transaction fees. Why not take out enough for a at least a few days if you are going to do this? His response was "If I do that I will spend the money quickly on other stuff not stretching my paycheck out".

It made me question how many people are out there that have this same clueless logic and I'm sure it's quite a few.

Most things have a small transaction fee including credit cards (for the merchant) which many places won't even let you charge if you aren't spending at least $5 or $10 because they cannot handle eating the fee.

Bitcoin was not designed for micro transactions either.

[LarryLaffer]

Limit poker player walks into a convenience store and purchases a can of Diet Coke for a dollar with bitcoin. His fees are 32 cents.

Had to stop right there because this always has annoyed me in life when I see people pay big fees (percentage wise) on tiny purchases.

When I was young working this job I knew a guy who went to an atm everyday that was not through his bank and took out $10 or $20 for lunch (whatever the minimum was). I'm like dude you are paying an insane rate per day in transaction fees. Why not take out enough for a at least a few days if you are going to do this? His response was "If I do that I will spend the money quickly on other stuff not stretching my paycheck out".

It made me question how many people are out there that have this same clueless logic and I'm sure it's quite a few.

Most things have a small transaction fee including credit cards (for the merchant) which many places won't even let you charge if you aren't spending at least $5 or $10 because they cannot handle eating the fee.

Bitcoin was not designed for micro transactions either.

Dodd-Frank had a lot of good reforms in it, but this wasn't one of them. It used to be that merchants were explicitly told they couldn't do this type of shit, as it hurts credit card companies in the long run bc it can make people not use credit cards in situations which they would.

All merchants are legally able to impose a minimum purchase, up to $10, for customers paying by credit card, under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Dodd-Frank was signed into law in December 2010.

[backdoorb]

Friend just had 2k sent from his blockchain wallet unauthorized. No idea how or why. Any suggestion what he should do?

He was on a laptop via team viewer. im thinking this might have something to do with it.

[sonatine]

sounds like he should have read this thread and realized bitcoins were donkdown.

[limitles]

Friend just had 2k sent from his blockchain wallet unauthorized. No idea how or why. Any suggestion what he should do?

He was on a laptop via team viewer. im thinking this might have something to do with it.

Why do people leave money hanging in trees. This from their front page, but who knows what the fine print says

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[GringoStar]

Friend just had 2k sent from his blockchain wallet unauthorized. No idea how or why. Any suggestion what he should do?

He was on a laptop via team viewer. im thinking this might have something to do with it.

Your friend should have followed basic BTC protocol, which is to put any amount above $1000 in a "vault" or in any wallet which has 2-step verification on every sign-in.

What I would do is report it to whatever platform your friend is using to hold their Bitcoin.

What platform is your friend using? Has your friend accessed this platform from a computer/tablet/mobile device that anyone else has used or has access to?

Has your friend shared any information with anyone about the BTC wallet, aside from wallet addresses?

Has your friend recently downloaded any new software or had any computer issues? Has he/she opened any emails that turned out to be SPAM with an image, or with a link and they clicked the link?

Other than that, it is clearly related to TeamViewer. Did the person have control of your friend's computer? Can you tell more about the scenario and how the remote screen sharing came about? Was it a random guy from India who scammed your friend into letting him on his PC or does he normally use TeamViewer for business, etc?

[smiflorida]

what's the longest transaction time from a btc core local wallet transfer sent to coinbase. it has been over 36hrs and still 0 confirmations showing. coinbase shows the transaction in my account and has it marked "pending" still. I think the problem might be the low fee amount. I was reading it could take up to 5 days sometimes?

[Mintjewlips]

sounds like he should have read this thread and realized bitcoins were donkdown.

 

 

 

[snake_in_the_ass]

Pretty sharp stock market trader wrote this on his blog today:

"As a parting postscript, we thought we would also offer up our opinion to those chasing what we believe to be the speculative du jour of the day – bitcoin.

Get out while you can.

Thirty years later and those same baseball cards are worth a fraction of what we'd sold them for in 1987. For bitcoin investors, we fear the fall will be even greater – as in, worthless. "

[Mintjewlips]

Sell at 1401, you're welcomed.

[Starbucks Spunk Bucket]

If people are brave enough to buy BTC at today's prices, fair play to them if it actually ever does really blow up huge.

[unchainedghost]

Someone tell me I'm alright here

Have BitPay app account on my phone.
Got phone replaced yesterday
Tried logging into my BitPay app with the 12 word phrase they give out
Can't log in
Waiting to hear from bitpay

Anyone ever deal. With this bullshit? I would have transferred everything out if I knew I'd be left out in the lurch lime this


Anyone?

[sonatine]

Someone tell me I'm alright here

Have BitPay app account on my phone.
Got phone replaced yesterday
Tried logging into my BitPay app with the 12 word phrase they give out
Can't log in
Waiting to hear from bitpay

Anyone ever deal. With this bullshit? I would have transferred everything out if I knew I'd be left out in the lurch lime this


Anyone?

They are probably backed up responding to all the other users whose bitcoins are donkdown.

[Henry]

Anyone ever deal. With this bullshit?

Yea, like everyone involved not on the original dev team ever.

[Sanlmar]

Bitcoin price higher than gold.

[smiflorida]

what's the longest transaction time from a btc core local wallet transfer sent to coinbase. it has been over 36hrs and still 0 confirmations showing. coinbase shows the transaction in my account and has it marked "pending" still. I think the problem might be the low fee amount. I was reading it could take up to 5 days sometimes?

so I ended up sending the transaction with such a low fee that the transfer was returned. this never happen in all the time I've used bitcoins. sometimes it may take a few days but never stay unconfirmed. after the transaction disappeared from the blockchain, I had to run Bitcoin Core with the -zapwallettxes to erase the unconfirmed transaction so the bitcoins balance would update back into my wallet.

what a pain in the ass..

[Henry]

said everyone involved ever.

[snake_in_the_ass]

Bitcoin price higher than gold.

During the gold bull market of the 70's, there were people lined up outside coin stores around the block waiting to get inside to buy coins. It didn't have a happy ending.