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Author Topic: Bitcoin blues  (Read 286 times)

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Re: Bitcoin blues
« Reply #1 on: December 22, 2017, 06:08:52 PM »

Feral will be super confused at that news.
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Quote from: Cardtrick

I suspect that the three x-men between them couldn't handle even OBI in a match.
That would be interesting - Obi vs. Oranje, LoCo and Duke.

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Re: Bitcoin blues
« Reply #2 on: December 22, 2017, 06:12:12 PM »

Eh. Another pump and dump giving out holiday haircuts

You have to be a total fucking moron to buy into ANYTHING that has risen 20 fold in less than a year

Bitcoin baggies
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Re: Bitcoin blues
« Reply #3 on: December 24, 2017, 02:05:31 PM »

On sale at Wal-Mart:



But apparently the chocolate sticks to the foil.
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Quote from: Cardtrick

I suspect that the three x-men between them couldn't handle even OBI in a match.
That would be interesting - Obi vs. Oranje, LoCo and Duke.

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Re: Bitcoin blues
« Reply #4 on: December 25, 2017, 08:56:05 AM »

Feral will be super confused at that news.

Bitcoin has me at curious, not confused.

I'm definitely an amateur when it comes to cryptocurrency, the whole thing is interesting and in a lot of ways makes sense in this day and age where the future appears to be eliminating all forms of cash transactions. Most people now use credit cards or debit cards to pay for everything, that in itself could easily be classed as " cryptocurrency " ie: transactions being made via the net without any " physical " monies being exchanged.

My mind is definitely open to bitcoin, my only hesitation at this point is the fact with none of the major banks being involved and there is no clear structure/evidence on who is actually in charge with it all..meaning it all appears to be led simply by the involvement of the general public dabbling in something cryptic..for the lack of a better word.

fox Why did you post this article...are you curious about bitcoin as well?
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Re: Bitcoin blues
« Reply #5 on: December 26, 2017, 02:39:50 PM »

Bitcoin has me at curious, not confused.

I'm definitely an amateur when it comes to cryptocurrency, the whole thing is interesting and in a lot of ways makes sense in this day and age where the future appears to be eliminating all forms of cash transactions. Most people now use credit cards or debit cards to pay for everything, that in itself could easily be classed as " cryptocurrency " ie: transactions being made via the net without any " physical " monies being exchanged.

My mind is definitely open to bitcoin, my only hesitation at this point is the fact with none of the major banks being involved and there is no clear structure/evidence on who is actually in charge with it all..meaning it all appears to be led simply by the involvement of the general public dabbling in something cryptic..for the lack of a better word.

fox Why did you post this article...are you curious about bitcoin as well?


yep...i wanted to know if i could buy a fraction of a bit coin and you can but looking further you need to get a bitcoin wallet like coinbase

https://support.coinbase.com/customer/portal/articles/1148716-payment-methods-for-us-customers

it appears from this one you need  to link a bank account to be able to sell your bitcoin but you can buy a bit coin with paypal but not sell a bit coin thru paypal  or use another service

How do you sell Bitcoins for cash?

"Services like LocalBitcoins and BitQuick can help you accept cash payments for bitcoin online. You create a sell order on one of the sites. Once a buyer accepts your offer, they are given your bank account details. Buyers then make a cash deposit to your bank account.Jan 22, 2016"


it appears much more a hassle to sell a coin for cash then to buy one and that was a point against buying one plus all the fraud and hacking i keep hearing.

plus you need to upload your ID and pay fees when selling. After reading all this stuff i was more inclined to not even bother

 it feels like going to a casino when buying bitcoin and i read lots of people dumped their coin stash when it reached that record high a few weeks ago

https://99bitcoins.com/sell-bitcoins-with-paypal-convert-your-bitcoins-to-usd/




https://www.digitaltrends.com/computing/how-to-buy-bitcoins/

http://www.aljazeera.com/news/2017/12/bitcoin-buy-171219100738438.html
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Re: Bitcoin blues
« Reply #6 on: December 29, 2017, 07:01:29 AM »

Never mind..

I retracted my post.
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Re: Bitcoin blues
« Reply #7 on: December 29, 2017, 11:23:52 PM »

Oh. My. God.  :rotf:

You old people and your lack of knowledge. Ouch. My sides. Can't. Fucking. Handle. It.
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Re: Bitcoin blues
« Reply #8 on: December 29, 2017, 11:37:50 PM »

Ouch. My sides. Can't. Fucking. Handle. It.

^^^Bitch must be riding a cooked salami-
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Re: Bitcoin blues
« Reply #9 on: January 02, 2018, 07:59:02 AM »

 :lol:
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Re: Bitcoin blues
« Reply #10 on: January 05, 2018, 11:09:33 AM »

There are too many speculators in the market. As a result bitcoin is useless as currency to buy goods and services right now because everyone is hoarding it or cashing out. We've seen this before with gold during the Great Depression and spices going back to ancient India. It doesn't end well.

After the speculators cash out and move to something else, i think the market will stabilize and gradually rise again but since there is only a finite number of bitcoins and the market is worldwide, the demand is only going to grow which means there will be speculators driving the prices up who have no intention of using it to pay for good and services, thus defeating its purpose.

If the speculators don't shake off then btc will become nothing more than a virtual trinket to own on a website.
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Re: Bitcoin blues
« Reply #11 on: January 06, 2018, 04:55:25 AM »

Quote from: BRA1N
...but since there is only a finite number of bitcoins and the market is worldwide, the demand is only going to grow which means there will be speculators driving the prices up who have no intention of using it to pay for good and services, thus defeating its purpose.

Sincere question:

People are selling their homes/properties for bitcoin, is that not classed as goods and services?
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Re: Bitcoin blues
« Reply #12 on: January 06, 2018, 05:33:17 AM »

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Re: Bitcoin blues
« Reply #13 on: January 06, 2018, 12:54:32 PM »

Sincere question:

People are selling their homes/properties for bitcoin, is that not classed as goods and services?

First of all, anyone who takes that kind of risk with their own home is a complete idiot that deserves what they get, good or bad.

Buying and selling real estate WITH btc would be an example of using it as currency.

Selling real estate for paper money to pour it into btc and hold onto to it in the hopes of profiting off the btc itself isn't. That money from real estate is taken out of the economy and is just sitting stagnant in a virtual account as it goes up or disappears from a ledger. The intent is not to use it to pay for things.

The tug of war is between those who developed and promoted btc to be a worldwide decentralized currency to pay for goods and services vs those who are not paying for anything and hoarding it hoping that their stake in it appreciates in value. Right now it heavily titled towards the latter. 

Why does that matter? If the value of btc rises because of market forces such as increased acceptance by merchants, security, convenience, scarcity, etc then the intrinsic value of a btc should be more stable and reliable due to the variety of factors.

However, when the value precipitously rises due mostly to hoarding a limited supply by speculators who have no intent to use it as currency, then wild fluctuations of value are bound to happen. Especially if financial institutions are involved and they buy or sell a large bulk of bitcoins at once. The little guy is at the mercy of deep pocket speculators. It is a paradigm bubble waiting to pop if/when a panic to get out and sell occurs.

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Re: Bitcoin blues
« Reply #14 on: January 07, 2018, 07:22:57 AM »

First of all, anyone who takes that kind of risk with their own home is a complete idiot that deserves what they get, good or bad.

Buying and selling real estate WITH btc would be an example of using it as currency.

Selling real estate for paper money to pour it into btc and hold onto to it in the hopes of profiting off the btc itself isn't. That money from real estate is taken out of the economy and is just sitting stagnant in a virtual account as it goes up or disappears from a ledger.

Personally, I wouldn't take that risk, however there are inviduals who do, I wouldn't call them idiots for being "risk takers" - life is all about taking risks.

More to the point..if one can afford to take risks in the bitcoin phase...then each to their own.


Quote
The intent is not to use it to pay for things.

I disagree.

Believe it or not there are people out there who are buying small items using bitcoin and there are also ppl investing in real estate via the bitcoin.

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The tug of war is between those who developed and promoted btc to be a worldwide decentralized currency to pay for goods and services vs those who are not paying for anything and hoarding it hoping that their stake in it appreciates in value. Right now it heavily titled towards the latter.

I agree, majority of the people would see the bitcoin as a potential investment.. right now .

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Why does that matter? If the value of btc rises because of market forces such as increased acceptance by merchants, security, convenience, scarcity, etc then the intrinsic value of a btc should be more stable and reliable due to the variety of factors.

Of course.

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However, when the value precipitously rises due mostly to hoarding a limited supply by speculators who have no intent to use it as currency, then wild fluctuations of value are bound to happen.

Agreed..

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Especially if financial institutions are involved and they buy or sell a large bulk of bitcoins at once. The little guy is at the mercy of deep pocket speculators. It is a paradigm bubble waiting to pop if/when a panic to get out and sell occurs.

I understand what you're saying, however the above is based on a hypothetical scenario..as financial institutions are not involved..yet.

The whole thing has me intrigued and frustrated at the same time.
There isn't a lot of, if any information on the dynamics with how all this works...it's somewhat of a bloody mystery to be honest.




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THE BRA1N

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Re: Bitcoin blues
« Reply #15 on: January 07, 2018, 08:37:29 AM »

I understand what you're saying, however the above is based on a hypothetical scenario..as financial institutions are not involved..yet.


No it's not hypothetical. Institutional investors and traders are already all over bitcoin. In the US Bitcoin futures are already trading in the CBOE and the other markets like the New York Stock exchange and NASDAQ are seeking permission to trade it as stocks. Other countries are likely way ahead of the US.

http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures
https://www.cnbc.com/2018/01/06/nyse-asks-regulators-for-permission-to-list-bitcoin-futures-etfs-.html

And sorry but anyone who puts up their home as collateral (taking on debt) or sale (divesting themselves of a place to live) to buy bitcoin is grossly foolish. That's not much different then going to Vegas and putting the deed on the craps table.

You know who made the most money during the US gold rush of the 1800s? Merchants. Early gold miners made money, most others lost money, especially those who sold everything to move out west. Lessons from history.

Maybe these individual btc wizards will win the day (the long term investors probably will), maybe not but one thing is certain - they are risking their own future and that of their family if their move flops and they are left homeless (like Loser).

There is 'risk' on one side and 'stupidity' on the other side of a continuum. Gambling with your home is on the stupidity side.

https://money.usnews.com/money/personal-finance/articles/2015/11/03/why-do-some-people-take-stupid-risks-with-money

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Re: Bitcoin blues
« Reply #16 on: January 08, 2018, 12:45:04 PM »

BTC is broken. The current developers kicked out the few remaining founders, and orchestrated ridiculous fees (20-90 USD). On top of that BTC is now inferior ledger tech. ECR20 based coins and tokens do and can do so much more from smart contracts to dapps and atomic swaps. There are also alternatives apart from BTC and Ethereum based coinage and tokens which are still more stable than BTC.

Unless the current developers pull their heads out of their asses, BTC will bust completely. We've already seen since December the migration away from BTC to other established and lower fees/honest development cryptos.

Even the shorting newbs are starting to cotton onto the futility of trying to turn a profit in 1-6 transactions from shitcoin and hodl's, and they throw good money at bad prospects like giddy school girls in a one boy town.

Bra1n is unfortunately correct. I'm not a fan of it but I'll tip my hat in his general direction when he actually gets something right for a change. It seems he's crash coursed himself into the realm recently....

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Re: Bitcoin blues
« Reply #17 on: January 09, 2018, 05:20:50 AM »

Personally, I wouldn't take that risk, however there are inviduals who do, I wouldn't call them idiots for being "risk takers" - life is all about taking risks.

More to the point..if one can afford to take risks in the bitcoin phase...then each to their own.
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Re: Bitcoin blues
« Reply #18 on: January 09, 2018, 06:57:31 PM »

No it's not hypothetical. Institutional investors and traders are already all over bitcoin. In the US Bitcoin futures are already trading in the CBOE and the other markets like the New York Stock exchange and NASDAQ are seeking permission to trade it as stocks. Other countries are likely way ahead of the US.

http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures
https://www.cnbc.com/2018/01/06/nyse-asks-regulators-for-permission-to-list-bitcoin-futures-etfs-.html

And sorry but anyone who puts up their home as collateral (taking on debt) or sale (divesting themselves of a place to live) to buy bitcoin is grossly foolish. That's not much different then going to Vegas and putting the deed on the craps table.

You know who made the most money during the US gold rush of the 1800s? Merchants. Early gold miners made money, most others lost money, especially those who sold everything to move out west. Lessons from history.

Maybe these individual btc wizards will win the day (the long term investors probably will), maybe not but one thing is certain - they are risking their own future and that of their family if their move flops and they are left homeless (like Loser).

There is 'risk' on one side and 'stupidity' on the other side of a continuum. Gambling with your home is on the stupidity side.

https://money.usnews.com/money/personal-finance/articles/2015/11/03/why-do-some-people-take-stupid-risks-with-money

So basically you're telling us that getting in with bitcoin now is akin to trying to run a flame forum with people you do not regard as even remotely competent flamers long after the horse has bolted...


I couldn't agree with you more. The best time to have invested in BTC was around August 2015... and the resulting gains reinvested into other concerns (like real estate, heh) by no later than a month ago.


And the best time to have started a flame site? Easily two decades ago, when people were that well heeled that tossing out monthly c-notes was something even a covetous jew thought nothing of. Not in this day and age where the paltry, bank balance breaking $6 a month cannot be relied upon to keep the doors open on a place like this.


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Johnny Storm

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Re: Bitcoin blues
« Reply #19 on: January 21, 2018, 09:24:48 AM »

Lame   
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Oh really?! Johnny?! Or should I call yuo Mr. Jiggy Fly from Brawl Hall? Talk about "relevant"? Just like yuor butt buddy, one BEnzo... Yuo tried and tried to be "relevant" but that stupid ass avatar of Clint Eastwood along with yuor saying... "Dying ain't much of a living"...or whatever BULLSHIT yuo were saying at that time does not make yuo a flaming prodigy. I know for a FUCKING fact yuo were dumpstered more times than I was fellated by my beautiful wife and was a fucking nobody at BH. Here yuo are relegated to faglames and shitty posts...Yuo truly do suck Serafina balls.

Tell me I'm wrong faggot.

You’re wrong, faggot.

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