Bitcoins are officially donkdown

[Sanlmar]

Peter Schiff was just on Rogan's podcast and went into heavy detail about why he thinks Bitcoin is a bubble. Like the last 30 min of the podcast. It was pretty convincing. He is a hard core bull on gold, and says it is actually what people think Bitcoin already is. One of his main points was that you can't actually use bitcoin to buy anything despite what people think. Any merchant just converts it to dollars, THEN you spend the dollars. While gold actually has monetary value and can be used to buy/trade directly. Also said how all the "value" in Bitcoin is just people coming after other people bidding the price up, and the bottom will eventually fall out.

Peter Schiff is a crook. He created a brokerage firm called Euro Pacific Capital and then got on CNBC trying to scare people into signing up with his firm. He wrote books on how the U.S. Dollar would crash and how gold, silver, oil and other commodities would soar to the moon. There is a famous video of him on CNBC saying that oil was going to $200/barrel when it was trading at $110. It then crashed to low $40's:

By the way, those who signed up with Euro Pacific Capital brokerage ended up getting fucked. They had to pay 4-5% fee to buy his recommended mutual funds. And he recommended a lot of foreign stocks that had a 3-5% commission! What else do you expect from a Jew? You can read the reviews here:
https://www.yelp.com/biz/euro-pacifi...-newport-beach
And his stock recommendations were horrible. The biggest bull market in history and his clients were getting negative returns.

Back to Bitcoin. It has gone from 6 cents to $4440 and not once did he ever tell anyone to invest in it. So now he is a genius for calling it a bubble? LOL.

If you are buying Bitcoin to buy a sack of weed or to send money to bookmaker, does it matter if it is a bubble? I think not.

Peter Schiff has been getting a lot of face time on CNBC lately. I usually have it on mute so I don't know what he's offering other than his usual schtick. Tells you a lot about CNBC especially lately.

Schiff is a survivor. He has been calling for the apocalypse literally every day of this 10 year run. Janet Yellen, the Fed, gold - I swear I can do a pretty good half hour impression of him.

When I'm bored or in a funk I sometimes dial up the latest Schiff on YouTube. He's so good at his craft and he has kept his energy up. He's great entertainment. Hard to describe the appeal. Its prolly that he describes the crash that we all hope to see one morning. It's porn. As long as you rub one out before you gamble he's great.

Too much Schiff you'll go blind.

These stupid financial infotainment programs asking Cuban, MacAfee about markets. They have no market credentials. They were successful entrepreneurs. There's a difference.

Never once is it uttered that there are a 1000 cryptos. Ripple is getting a lot of press, for instance. I think we know the truth.

Anyway, I don't hate Schiff. He's fun. I hate the idiots that give him the floor as some kind of authority. Offer him as comic relief.

[MumblesBadly]

Possibly a bigger risk for some bitcoin fans than a market price collapse or bitcoin exchange hack.

Identity Thieves Hijack Cellphone Accounts to Go After Virtual Currency
https://mobile.nytimes.com/2017/08/2...-currency.html

Cliffs: Some hackers target bitcoin enthusiasts who share on social media their ownership of bitcoin. If the mark has a wallet on a cellphone, they try to hack the phone in order to drain the wallet of bitcoin.

[sonatine]

Rather than simply use Bitcoin, an officially donkdown cryptocurrency, Burger King have simply rolled out their own.


http://www.bbc.com/news/technology-41082388

[snake_in_the_ass]

This thread is now dual purpose and will also serve as the Micon suicide watch thread.

Micon still alive. I just saw him looking at homes in Beverly Hills after he parked his Yacht in Marina Del Rey.

[Mintjewlips]

Germany repatriated 300 tons of gold over the years............nothing to see here.....

[Ryback_feed_me_more]

Possibly a bigger risk for some bitcoin fans than a market price collapse or bitcoin exchange hack.

Identity Thieves Hijack Cellphone Accounts to Go After Virtual Currency
https://mobile.nytimes.com/2017/08/2...-currency.html

Cliffs: Some hackers target bitcoin enthusiasts who share on social media their ownership of bitcoin. If the mark has a wallet on a cellphone, they try to hack the phone in order to drain the wallet of bitcoin.

Because there are some popular apps that allow you to store your crypto on your phone with a wallet.. Supposed to be secure but given Androids pentiant to be hackable noway would I put a legit wallet on my phone... Trezor is still the way to go..

[Ryback_feed_me_more]

Rather than simply use Bitcoin, an officially donkdown cryptocurrency, Burger King have simply rolled out their own.


http://www.bbc.com/news/technology-41082388

Tine seriously?? either your using reverse psychology with the donkdown shit regarding BTC while it hits $4500 or you really are delusional.. On the flipside Bitcoin Cash is a sick bet right now.. Price is closing in on $1000 with significantly better mining rewards rate compared to BTC.. with 7X easier mining and value is 4-5X less then BTC its a net +EV.

[sonatine]

So youre shilling for a forked cryptocurrency thats less profitable to mine than eth, which has an roi of something like 5 years for a 5k mining rig.

Cool, do you have a mailing list or something I can get on?

[NaturalBornHustler]

So I was just forced to open a Coinbase account for certain online transactions I need to make that only accept Bitcoin.

Is this just like a brokerage account? If I put X in and price goes up will my balance go up as well? Because I might play around with this thing a little bit since I have an account now.

Edit - $50 LOL limit on credit cards? Only $1000 from bank accounts? What the fuck kind of Mickey Mouse Operation is this? Jesus Christ.

[sonatine]

in coinbases defense, as your account matures, those limits go away.


however.


then you can deal with their fees, and there is no defending those.

[NaturalBornHustler]

in coinbases defense, as your account matures, those limits go away.


however.


then you can deal with their fees, and there is no defending those.

I verified and am now up to a whole $150 on credit cards. $2,000 in bank account

It says I have $10,000 available in USD wallet what the hell is that?

I'm just dumping like 10k into this thing over next month and seeing where it goes. It just keeps going up. I'll pull if it gets dicey.

[NaturalBornHustler]

Also I just bought $150 worth on a credit card how long does it take to show up in my account? It says "instant" and my balance is still showing 0.

My limit has nothing left so I know it went through. Still waiting on the bank account transactions to update so I can verify that and really get down to business.

[SetofKs]

Peter Schiff was just on Rogan's podcast and went into heavy detail about why he thinks Bitcoin is a bubble. Like the last 30 min of the podcast. It was pretty convincing. He is a hard core bull on gold, and says it is actually what people think Bitcoin already is. One of his main points was that you can't actually use bitcoin to buy anything despite what people think. Any merchant just converts it to dollars, THEN you spend the dollars. While gold actually has monetary value and can be used to buy/trade directly. Also said how all the "value" in Bitcoin is just people coming after other people bidding the price up, and the bottom will eventually fall out.

lol i listened to this interview. was god when he claimed the people who have made millions on bitcoins are morons, they just got lucky because there are people out there who are even bigger morons. Then he mentions how he owns a gold company, and goes on a 30 minute rant shilling gold. I can't take him seriously because obv a gold seller is going to tell you to buy gold. "Gold's got only one direction to go, and that's higher," Schiff said in October 2012. "People are going to be shocked at how inexpensive gold was" when it was trading at $1,700. Gold is currently trading at $1320. Up $30 after his rogan appearance.

[NaturalBornHustler]

Peter Schiff was just on Rogan's podcast and went into heavy detail about why he thinks Bitcoin is a bubble. Like the last 30 min of the podcast. It was pretty convincing. He is a hard core bull on gold, and says it is actually what people think Bitcoin already is. One of his main points was that you can't actually use bitcoin to buy anything despite what people think. Any merchant just converts it to dollars, THEN you spend the dollars. While gold actually has monetary value and can be used to buy/trade directly. Also said how all the "value" in Bitcoin is just people coming after other people bidding the price up, and the bottom will eventually fall out.

lol i listened to this interview. was god when he claimed the people who have made millions on bitcoins are morons, they just got lucky because there are people out there who are even bigger morons. Then he mentions how he owns a gold company, and goes on a 30 minute rant shilling gold. I can't take him seriously because obv a gold seller is going to tell you to buy gold. "Gold's got only one direction to go, and that's higher," Schiff said in October 2012. "People are going to be shocked at how inexpensive gold was" when it was trading at $1,700. Gold is currently trading at $1320. Up $30 after his rogan appearance.

Yeah my thing on Bitcoin like he said is it is definitely a bubble, but you can still make money in the bubble. I'm not greedy if I double up I'll pull it right out. I'm not going to be a long term holder. Or I will keep liquidating down to my original buy if it really goes up so I won't take a loss and keep letting it ride.

[sonatine]

Also I just bought $150 worth on a credit card how long does it take to show up in my account? It says "instant" and my balance is still showing 0.

My limit has nothing left so I know it went through. Still waiting on the bank account transactions to update so I can verify that and really get down to business.

it takes 5-15 minutes average to show up as available. its wonky.


the 10k cash means you can sell/convert up to 10k worth of bitcoins for cash this week, iirc.


but yeah prepare to be endlessly upset over how hard they grift you.

[chinamaniac]

in coinbases defense, as your account matures, those limits go away.


however.


then you can deal with their fees, and there is no defending those.

I verified and am now up to a whole $150 on credit cards. $2,000 in bank account

It says I have $10,000 available in USD wallet what the hell is that?

I'm just dumping like 10k into this thing over next month and seeing where it goes. It just keeps going up. I'll pull if it gets dicey.

Bottom line is it has 'crashed like 4-5 times and recovered to record highs every time. Not sure selling when it "tanks" slightly is a good move.

[NaturalBornHustler]

Also I just bought $150 worth on a credit card how long does it take to show up in my account? It says "instant" and my balance is still showing 0.

My limit has nothing left so I know it went through. Still waiting on the bank account transactions to update so I can verify that and really get down to business.

it takes 5-15 minutes average to show up as available. its wonky.


the 10k cash means you can sell/convert up to 10k worth of bitcoins for cash this week, iirc.


but yeah prepare to be endlessly upset over how hard they grift you.

Got it.

Yeah when I was uploading my credit cards and doing all that stuff, it crashed like 4 times.

[NaturalBornHustler]

I verified and am now up to a whole $150 on credit cards. $2,000 in bank account

It says I have $10,000 available in USD wallet what the hell is that?

I'm just dumping like 10k into this thing over next month and seeing where it goes. It just keeps going up. I'll pull if it gets dicey.

Bottom line is it has 'crashed like 4-5 times and recovered to record highs every time. Not sure selling when it "tanks" slightly is a good move.

Noted. I'm just riding by the seat of my pants on this thing for now.

I hope it keeps jumping over the next month so then I can just freeroll it with no worries.

[DonaldTrumpsHairPiece]

A lot of people in the industry keep pointing out the BTC fee's and how they are too high for small transactions etc. Oddly the price is not reflecting that the very thing it was created for is now nearly unrealistic to use it for. Buy a coffee or pizza or send $100 even with BTC, not anymore and never again at a low or usable fee.

Sadly the death of this coin will be its price/popularity and core team.

Too popular for it's own good with fee's that make it unusable for daily transactions, great. Someone then said well send huge sums like between banks, its still great for that. At which point I banged my head against a wall, do they hear themselves?

At any rate Nattybuilder. GL and when you cash out do it face to face with someone for cash and not too small an amount, fees a killer.

[NaturalBornHustler]

Also I just bought $150 worth on a credit card how long does it take to show up in my account? It says "instant" and my balance is still showing 0.

My limit has nothing left so I know it went through. Still waiting on the bank account transactions to update so I can verify that and really get down to business.

it takes 5-15 minutes average to show up as available. its wonky.


the 10k cash means you can sell/convert up to 10k worth of bitcoins for cash this week, iirc.


but yeah prepare to be endlessly upset over how hard they grift you.

OK so here we are hours later and everything on the screen is saying I have no Bitcoins. Except my weekly card limit, which is reflecting the $150 I bought earlier and is now at $11 (it was $7 a few hours ago?). But everything else is saying I didn't buy anything. I just checked the credit card I used and there is nothing showing up on the transactions log from coinbase for the $150 (it updates literally within a minute). I have no idea what the fuck is going on at this point.

Edit - I just read over the details and it clearly states that all credit card purchases will be available immediately. 3-5 biz days on bank transfers. And LOL at the "support". There is none.