So you can buy an unlimited amount of bitcoin and only sell 20k in a day? And we wonder why the thing keeps going up. Talk about being held hostage.Originally Posted by DonaldTrumpsHairPiece
Each exchange may have differing withdrawal limits but at Kraken for example I can deposit unlimited and withdrawal limited to $20,000 worth of btc a day.
Online brokers? For what?
Sell it yourself.
Because everyone else isn't daft enough to give out their account information to everyone on PFA.
To save further blushes I have at least properly redacted this one for you.
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Krypt is rich. TID. Get in energy. Ride the wave.I’m doing fine
Not what I said, you misread, I can DEPOSIT unlimited # of BTC, don't have to, simply can.So you can buy an unlimited amount of bitcoin and only sell 20k in a day? And we wonder why the thing keeps going up. Talk about being held hostage.
I hesitate to address your price comment but I will. The exchange does not limit what you can sell on the market so how much one can withdraw at once has nothing to do with the market price. Mind you with two scans and an email I can bump it to $200k.
You are 0 for 2 on that one Pooh.
It's stories like this that make me wonder if this will the crash to the system, like 2008 housing, dot com bubble, 1929, tulips, etc... Cryptos have no value because they are not backed by anything. They can't be a payment system because they have no interest rate and cannot be borrowed, and most importantly not backed by a government.
So that leaves bitcoin as an asset, but unlike gold which is coveted for jewelry for 10,000 years, you can't do anything with a sequence of numbers.
Most of the crypto trades (north of 50%) are in China, Japan and South Korea. Asains are notoriously famous for two things: saving and gambling. It's a paradox. There are a ton of Asians who hoard cash for generations. There are also many that will bankrupt their entire generation on the baccarat table.
Right now you have an unnatural market in that you have only mostly buyers, not many, if any, sellers. What I find fascinating is I have never heard anyone making a successful sell on the market of say 100 bitcoins at these prices for USD$. The online brokers don't have the cash to support the trade, so I assume the only way you can get it done it black market. Which is fucking scary.
This is really a paper market. There is no liquidity and the normal banking system will never support cashing in a flashdrive of bitcoin for say a million bucks. This is truly driven by FOMO and really nothing else. Fascinating. It's the whole 80-20 rule. 20% will make money, 80% will lose just about everything. I am not sure even if its 80-20 at this point, it might be 5-95%.
I am sitting this frenzy out. I got totally mauled on cant-miss dot com stocks in 1999 and an oil well that never produced at $4 gallon gas in 2005. Yes, I was part of the FOMO syndrome. If I feel the urge to gamble high stakes again, I will walk into a casino with $10K and sit at the roulette wheel. It's quick, easy and fun and over by 4am either way.
ur like a broken record you asshole
Originally Posted by Pooh
Buddy of mine decided to buy 200k ADA coins a few months ago between 2.5 and 3 cents each. Told me about this when they were 5 cents. I had coinbase open on my browser and was thinking about throwing 10k in for shits and giggles. I didn't.
Do you know why you didn't put any money down Pooh?
Because ADA (Cardano) isn't even on Coinbase. I am not even sure this "friend" you spoke of may even exist.
I am just not going to trust this guy with my money below link. I get you are rolling in the bucks. But its not for me. I am a shade over 40, so I have history is these can't lose deals. Like I said, its a 5% win 95% lose proposition. I seem to end up in the 95% category. I literally would probably have over $10M if I had played by the rules over the last 19 years. I did not, but I recovered to the point I sleep well now. I don't own a yacht, but I have a 900 square foot condo in NW Florida I visit three times a year so its not all terrible.Each exchange may have differing withdrawal limits but at Kraken for example I can deposit unlimited and withdrawal limited to $20,000 worth of btc a day.
Online brokers? For what?
Sell it yourself.
https://www.kraken.com/en-us/about
You have to do what you are comfortable with, I agree.I am just not going to trust this guy with my money below link. I get you are rolling in the bucks. But its not for me. I am a shade over 40, so I have history is these can't lose deals. Like I said, its a 5% win 95% lose proposition. I seem to end up in the 95% category. I literally would probably have over $10M if I had played by the rules over the last 19 years. I did not, but I recovered to the point I sleep well now. I don't own a yacht, but I have a 900 square foot condo in NW Florida I visit three times a year so its not all terrible.
https://www.kraken.com/en-us/about
There's no question that crypto will crash one day to basically nothing. You know it, I know it and my buddy who made a killing knows it. It's just a matter of when. There's like hundred of these stupid crypto currencies and none are technically worth anything. I would guess at some point there will be regulation and a reputable company like Visa or MC will come in and take over the market. Great bubble though. Biggest we'll ever see in our lifetimes. I'm staying away though.It's stories like this that make me wonder if this will the crash to the system, like 2008 housing, dot com bubble, 1929, tulips, etc... Cryptos have no value because they are not backed by anything. They can't be a payment system because they have no interest rate and cannot be borrowed, and most importantly not backed by a government.
So that leaves bitcoin as an asset, but unlike gold which is coveted for jewelry for 10,000 years, you can't do anything with a sequence of numbers.
Most of the crypto trades (north of 50%) are in China, Japan and South Korea. Asains are notoriously famous for two things: saving and gambling. It's a paradox. There are a ton of Asians who hoard cash for generations. There are also many that will bankrupt their entire generation on the baccarat table.
Right now you have an unnatural market in that you have only mostly buyers, not many, if any, sellers. What I find fascinating is I have never heard anyone making a successful sell on the market of say 100 bitcoins at these prices for USD$. The online brokers don't have the cash to support the trade, so I assume the only way you can get it done it black market. Which is fucking scary.
This is really a paper market. There is no liquidity and the normal banking system will never support cashing in a flashdrive of bitcoin for say a million bucks. This is truly driven by FOMO and really nothing else. Fascinating. It's the whole 80-20 rule. 20% will make money, 80% will lose just about everything. I am not sure even if its 80-20 at this point, it might be 5-95%.
I am sitting this frenzy out. I got totally mauled on cant-miss dot com stocks in 1999 and an oil well that never produced at $4 gallon gas in 2005. Yes, I was part of the FOMO syndrome. If I feel the urge to gamble high stakes again, I will walk into a casino with $10K and sit at the roulette wheel. It's quick, easy and fun and over by 4am either way.
I don't know shit about any of this. All I know is he is on coinbase and trades through something like bitrex or whatever that exchange is. He sent me a screen shot. I believe the guy. He ain't a bullshitter. And 300k isn't a ton of money for either me or him so he isn't lying.Originally Posted by Pooh
Buddy of mine decided to buy 200k ADA coins a few months ago between 2.5 and 3 cents each. Told me about this when they were 5 cents. I had coinbase open on my browser and was thinking about throwing 10k in for shits and giggles. I didn't.
Do you know why you didn't put any money down Pooh?
Because ADA (Cardano) isn't even on Coinbase. I am not even sure this "friend" you spoke of may even exist.
I don't know shit about any of this. All I know is he is on coinbase and trades through something like bitrex or whatever that exchange is. He sent me a screen shot. I believe the guy. He ain't a bullshitter.
Do you know why you didn't put any money down Pooh?
Because ADA (Cardano) isn't even on Coinbase. I am not even sure this "friend" you spoke of may even exist.
By the way I am not questioning your friend's honesty in this discussion.I had coinbase open on my browser
The fuck's your problem bro. He told me about it during the day. I went home that night and opened up coinbase because he said that's where you deposit the money then trade on bitrex. I have no fucking clue. Like I said I didn't invest. Didn't even research it to be honest. Just left the browser open on my computer for a couple days, got tired of looking at the tab and closed it. End of story.
By the way I am not questioning your friend's honesty in this discussion.I had coinbase open on my browser
This fucking clown thinks I'm lying about bitcoin of all things. Who is this fucking guy?
To be fair of the skepticism, everything I have read says these online exchanges limit you to $2,500 or $5,000 a withdraw. Obviously they do this because they don't have the cash on hand from various currencies to pay out. I get there are other exchanges where you can auction off your coins. It's hard to believe this market even exists. I am just curious why a pure gamble such as crypto these people would go through these headaches. Nobody has any idea of a coin value because it can't be valued, its a pure gamble, so why not go into a casino and bet red/black? I know the reason: People love to gamble and this is a slower way to gamble to get to an outcome. There is a reason why the Asian market is so attracted to bitcoins, its a pure gamble but it lasts longer than a night in the casino. FOMOI don't know shit about any of this. All I know is he is on coinbase and trades through something like bitrex or whatever that exchange is. He sent me a screen shot. I believe the guy. He ain't a bullshitter. And 300k isn't a ton of money for either me or him so he isn't lying.
Do you know why you didn't put any money down Pooh?
Because ADA (Cardano) isn't even on Coinbase. I am not even sure this "friend" you spoke of may even exist.
Because there are stupid returns to be made especially if you're in a situation where throwing 10-20k around without worrying about it too much. That ADA goes to $5 then it's life changing money. Just imo. I get the craze. Everyone loves the get rich quick thing. Used to be penny stocks. Now it's crypto. The big difference is this is the wild west where the market runs 24/7 and it's essentially controlled by foreign countries. I've never done much research on it, nor do I plan to but I do get the phenomenom.To be fair of the skepticism, everything I have read says these online exchanges limit you to $2,500 or $5,000 a withdraw. Obviously they do this because they don't have the cash on hand from various currencies to pay out. I get there are other exchanges where you can auction off your coins. It's hard to believe this market even exists. I am just curious why a pure gamble such as crypto these people would go through these headaches. Nobody has any idea of a coin value because it can't be valued, its a pure gamble, so why not go into a casino and bet red/black? I know the reason: People love to gamble and this is a slower way to gamble to get to an outcome. There is a reason why the Asian market is so attracted to bitcoins, its a pure gamble but it lasts longer than a night in the casino. FOMO
That is the ultimate risk for the economy. No wealth is getting created, just a hog on electricity. It's hard to believe. But people scratch lottery tickets all the time and that makes no sense either. You can see why the South Korean government is cracking down so hard. They see their entire youth population spending all their money on crypto. Because nobody sells it, or can sell it, purchases get made on margin for every day life. It's going to be a spectacular crash. What a vapor rush this must be. All these paper millionaires will never realize a dime. Like I said, there is always going to be 5% that makes a killing, maybe even a couple on this site. It's just not going to me.Because there are stupid returns to be made especially if you're in a situation where throwing 10-20k around without worrying about it too much. That ADA goes to $5 then it's life changing money. Just imo. I get the craze. Everyone loves the get rich quick thing. Used to be penny stocks. Now it's crypto. The big difference is this is the wild west where the market runs 24/7 and it's essentially controlled by foreign countries. I've never done much research on it, nor do I plan to but I do get the phenomenom.
That is the ultimate risk for the economy. No wealth is getting created, just a hog on electricity.
No wealth?
You don't say, I would have never guessed.
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