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PostPosted: Thu Dec 07, 2017 12:41 pm 
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When's it going to stop?


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PostPosted: Thu Dec 07, 2017 12:46 pm 
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Zero and I feel like I've missed the boat entirely at this point...I just didnt have any clue what it actually was(I still dont) whether my money was protected, how to purchase it etc.

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PostPosted: Thu Dec 07, 2017 12:57 pm 
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Bought $10K of Eth in Sept for $240 on Gemini. Def feel like missed the boat, should have bought BTC for $4k. They are all going to $0 in the long run, which might not be so long IMO.

Classic bubble is classic.

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PostPosted: Thu Dec 07, 2017 12:58 pm 
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outside of pure speculation aka "light a pile of money on fire" unless you really wanted to do some serious ML it's not really worth the risk.


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PostPosted: Thu Dec 07, 2017 1:00 pm 
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if you dont have it now you've for sure missed the boat. and its def a bubble.

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I already told you I'm an idiot, what else are you looking for here?


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PostPosted: Thu Dec 07, 2017 1:01 pm 
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goose egg


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PostPosted: Thu Dec 07, 2017 1:04 pm 
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One it’s on the news you missed out, kinda like when people in the Midwest heard about the gold rush in CA or AK

There might still be $ to be made but not as much


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PostPosted: Thu Dec 07, 2017 1:22 pm 
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My question is if you own like 200 mill in bitcoin like some of these people do now. Can you actually sell it and cash out?

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PostPosted: Thu Dec 07, 2017 1:23 pm 
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browntrout wrote:
My question is if you own like 200 mill in bitcoin like some of these people do now. Can you actually sell it and cash out?

like in the regular stock market, only if people want to buy it.

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Wilson wrote:
I already told you I'm an idiot, what else are you looking for here?


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PostPosted: Thu Dec 07, 2017 1:25 pm 
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browntrout wrote:
My question is if you own like 200 mill in bitcoin like some of these people do now. Can you actually sell it and cash out?

yes, easily. That's only 12,500 bitcoins. The circulating supply is over $16M........insane.

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PostPosted: Thu Dec 07, 2017 1:27 pm 
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halYEM wrote:
browntrout wrote:
My question is if you own like 200 mill in bitcoin like some of these people do now. Can you actually sell it and cash out?

like in the regular stock market, only if people want to buy it.



and deal with the bid/offer.

Ain't no SOES for bitcoin bruv


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PostPosted: Thu Dec 07, 2017 1:49 pm 
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halYEM wrote:
if you dont have it now you've for sure missed the boat. and its def a bubble.



It's still not bad for swing trading but I don't have any confidence in it as an investment.


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PostPosted: Thu Dec 07, 2017 1:50 pm 
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i miss SOES.

was such a fun little platform to poach.


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PostPosted: Thu Dec 07, 2017 1:54 pm 
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but its not like the regular stock market. as i understand it, it takes a bit more effort and communication to buy and sell, which would make the precision of swing trading challenging. plus the general consensus seems to be that people are holding, which doesnt bode well for swinging. but im also hardly knowledgeable on this.

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I already told you I'm an idiot, what else are you looking for here?


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PostPosted: Thu Dec 07, 2017 2:04 pm 
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halYEM wrote:
but its not like the regular stock market. as i understand it, it takes a bit more effort and communication to buy and sell, which would make the precision of swing trading challenging. plus the general consensus seems to be that people are holding, which doesnt bode well for swinging. but im also hardly knowledgeable on this.


If you were trading huge sums you might have an issue with people holding but I've not seen a transaction get held up outside of server issues. For instance today Coinbase is seeing long transaction times. Swing trading may be a bit more difficult because you're correct someone has to accept the transaction and actually enter it on the block chain but your offer isn't dynamic outside of how much you're willing to pay as a fee for the transaction itself, the exchange rate is locked. When you have such large fluctuations in value you don't need to be terribly precise. I'm also talking a little longer game like getting in after a round of profit taking or some bad news from China rather than a daily fluctuation. It's easy to get greedy when you see a 74% increase in a week though... :lol:

The fact that the resource is finite (mining is going to slow due to power limitations) the currency will hold value as long as it's exchange isn't blocked.

If you do have a lot of $$ invested and want to keep it crypto currency make sure to put a good chuck of it in cold storage as any that you leave in your online wallets are possible targets for thieves.

I don't understand all of it but it's hugely fascinating.

I just bought two CryptoKitties to breed. :lol:


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PostPosted: Thu Dec 07, 2017 5:18 pm 
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https://www.bloomberg.com/news/articles/2017-12-05/mystery-shrouds-tether-and-its-links-to-biggest-bitcoin-exchange


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PostPosted: Thu Dec 07, 2017 5:28 pm 
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Jammin72 wrote:

I just bought two CryptoKitties to breed. :lol:


What are you using to buy? Coinbase has been wonky the past 2 days.


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PostPosted: Thu Dec 07, 2017 5:45 pm 
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Goose42 wrote:
Jammin72 wrote:

I just bought two CryptoKitties to breed. :lol:


What are you using to buy? Coinbase has been wonky the past 2 days.


I had enough ether in my MetaMask account to buy a couple of Gen 7s and make a kitten. I have the sale of said kitten and another kitten being held up by whatever is going on with them today.

I've read they just weren't prepared for all of this traffic with the craze. I'm still trying to figure out how much gas I need to use as well perhaps that's why I have two stuck transactions.


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PostPosted: Thu Dec 07, 2017 7:07 pm 
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So WTF do you do with a bitcoin besides buy drugs on the dark net?


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PostPosted: Thu Dec 07, 2017 7:10 pm 
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Winklevoss Twins become the first bitcoin billionaires

https://nypost.com/2017/12/04/winklevos ... lionaires/

Edit: slightly ironic i got that link off facebook

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PostPosted: Thu Dec 07, 2017 7:28 pm 
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Waiting to cash in my JB II first

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PostPosted: Thu Dec 07, 2017 9:21 pm 
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I had about $17.00 in BTC a few months ago, saw that it hit $20000.00 for a bitcoin and checked my balance - it was close to $50.00. Went online to my favorie MOM, placed a $48.00 order for some edibles, but couldn't complete the transaction as miners were asking for a transaction fee of $12.00 - I used to pay about $2.00 to get it confirmed in less than an hour. Changed my fee to $0.00, used a transaction accelerator and 8 hours later it got multiple confirmations.

I believe originally Bitcoin was not meant as an investment, but as a currency to be used. But if miners are going to try and charge $12.00 on a $50.00 purchase, I'd say invest it. There won't be as many transactions, therefore miners won't get the steep fees they wan't.

I bought $250.00 of bitcoin around spring 2010. If I never spent it, it would be worth around a billion dollars today :shock:


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PostPosted: Thu Dec 07, 2017 9:41 pm 
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pottsdave wrote:
I had about $17.00 in BTC a few months ago, saw that it hit $20000.00 for a bitcoin and checked my balance - it was close to $50.00. Went online to my favorie MOM, placed a $48.00 order for some edibles, but couldn't complete the transaction as miners were asking for a transaction fee of $12.00 - I used to pay about $2.00 to get it confirmed in less than an hour. Changed my fee to $0.00, used a transaction accelerator and 8 hours later it got multiple confirmations.

I believe originally Bitcoin was not meant as an investment, but as a currency to be used. But if miners are going to try and charge $12.00 on a $50.00 purchase, I'd say invest it. There won't be as many transactions, therefore miners won't get the steep fees they wan't.

I bought $250.00 of bitcoin around spring 2010. If I never spent it, it would be worth around a billion dollars today :shock:


Didn't know coal miners were into bitcoin

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PostPosted: Fri Dec 08, 2017 2:27 am 
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when Leonard had a BTC address at the top of the page, I made about a $10 donation (about 3-4 years ago maybe?)... I'm guessing it's probably worth about $400-500 now LOL. Anyone remember my thread about getting folks to play poker at a site called Poker Dominicano? I got flack for it (some folks thought it was spam, even though a few phookers played some), and said I would make a donation here.


I've been playing poker/gambling with it for about the same amount of time (back then a site called Seals With Clubs ran a BTC only room where 1,000 chips equated to 1 BTC, now many of the online rooms take it for deposit/withdrawal coverted at market price)... I try not to think about how much I've gone through in this amount of time (how much I have won and cashed out to USD and/or lost)... MILLIONS without a doubt :bag:


between BTC, Ethereum and few other cryptos I've built up a nice nestegg, and now like trading crypto. Any poker winnings I've gotten in the past year or so I've just kept in BTC and been hoarding or trading for other cryptos. With the rise in price, trading has almost overtaken playing poker as a supplemental income, so I have been really focusing on that much more this year

I know the ins/outs of how this stuff works, so if anyone has any questions... :afro:


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PostPosted: Fri Dec 08, 2017 3:14 am 
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Have about a 1/20th of a bitcoin in some darkweb market somewhere....


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PostPosted: Fri Dec 08, 2017 3:31 am 
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have a little over 0.7 BTC

created account to withdrawal deposit from sportsbook so not an investment. later bot @ $750-$1k but then it went to porn torrent sites or back to sports book. am happy to have skin in the game w/ my cost basis - it is fun to watch but will make next capital deployments in us equities :whip:


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PostPosted: Fri Dec 08, 2017 3:32 am 
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smh

You kids and your internet...


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PostPosted: Fri Dec 08, 2017 3:33 am 
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?


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PostPosted: Fri Dec 08, 2017 11:33 am 
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Heard that the value is tanking


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PostPosted: Fri Dec 08, 2017 1:32 pm 
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Up past 15K today. Just insane.

Korea is kicking around the idea of shutting it down there. Which would make for a noticeable and predictable dip. If you want to pick some up for fun that might be the time to do it if they pull the lever.


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PostPosted: Fri Dec 08, 2017 8:07 pm 
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pfl


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PostPosted: Fri Dec 08, 2017 8:15 pm 
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junkbondking wrote:
halYEM wrote:
browntrout wrote:
My question is if you own like 200 mill in bitcoin like some of these people do now. Can you actually sell it and cash out?

like in the regular stock market, only if people want to buy it.



and deal with the bid/offer.

Ain't no SOES for bitcoin bruv

A friend of mine asks, could you explain your point that bitcoin can only be sold if people are willing to buy? Since it's utility as a usable currency has been diminished, what appeal does it have other than a tax shelter investment account?


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