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Computer Serf posted:except the order book is full of spoofer bots, so any orders down or up will jump away from you with any volume i've occasionally had walls jump when i buy or sell into them but that's because there's some left after my order executes (i'm a small fry). usually they just sit there
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Nov 22, 2017 19:28
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Oscar Wild posted:Is that for all crypto exchanges or just one? if you used $1.5 mil to tank the price on a low liquidity, low volume exchange, it wouldn't affect the other exchanges. people (or bots, more likely) would just take advantage of the arbitrage opportunity and bring the small exchange back up to near average market value https://coinmarketcap.com/currencies/bitcoin/#markets
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Nov 22, 2017 19:33
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So my question is: Will bitcoins ever drop down to like $50 again so I can buy like 10 of em and then wait for them to increase in value to like 100,000 so I can make tons of cash? I don't wanna work and I'd rather just make a bit of money, not a lot of money but some so I can be semi rich and live the suburb lifestyle
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Nov 22, 2017 19:34
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MurderBot posted:So my question is: Will bitcoins ever drop down to like $50 again so I can buy like 10 of em and then wait for them to increase in value to like 100,000 so I can make tons of cash? they could definitely drop significantly in price and recover but it won't be that drastic (not 99%)
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Nov 22, 2017 19:35
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aw  So my chances of being a level 99 suburb owner with no mortage is effectively crushed?
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Nov 22, 2017 19:36
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MurderBot posted:aw
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Nov 22, 2017 19:37
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MurderBot posted:So my question is: Will bitcoins ever drop down to like $50 again so I can buy like 10 of em and then wait for them to increase in value to like 100,000 so I can make tons of cash? You can buy $500 worth now and hope it grows to a million bucks, it's probably more likely than the scenario you've laid out.
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Nov 22, 2017 19:37
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MurderBot posted:aw You don't have to buy whole bitcoins if you want to screw around with a few hundred bucks its real doable
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Nov 22, 2017 19:38
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https://twitter.com/JimBTC/status/932661010409893888
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Nov 22, 2017 19:47
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MurderBot posted:So my question is: Will bitcoins ever drop down to like $50 again so I can buy like 10 of em and then wait for them to increase in value to like 100,000 so I can make tons of cash? Well, if bitcoins ever become the dominant currency of the world, each one will be worth like millions of dollars so it's got plenty of room!
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Nov 22, 2017 19:49
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Uranium 235 posted:for individual exchanges, daily bitcoin volumes are in the tens or hundreds of millions (for the top exchanges). the sum volume of all exchanges adds up to several billion. That's kinda what I thought. These exchanges seem like they would be very easy to manipulate. What a dumb idea for a "currency". Exchange shopping for God's sake. For a "currency". This is unlike any other market and any analogy to other markets make no sense.
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Nov 22, 2017 20:20
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Ham Sandwiches posted:You don't have to buy whole bitcoins if you want to screw around with a few hundred bucks its real doable Hey idiot, why aren't you responding to the people pointing it you insisting that exchanges don't get hacked following an exchange getting hacked and having their solvency brought into question
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Nov 22, 2017 20:25
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Blade Runner posted:Hey idiot, why aren't you responding to the people pointing it you insisting that exchanges don't get hacked following an exchange getting hacked and having their solvency brought into question Because the guy who has spent a year claiming that bitcoins are a not a scam, is not somehow required to respond to every twist and turn in the annals of Bitcoin how loving stupid are you poo poo on the internet gets hacked, avoid tether, also I'd avoid bitfinex too
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Nov 22, 2017 20:28
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The mainline exchanges with high volume are fine for your bitcoins and transactions If you go rooting around in goofy rear end altcoins and poorly coded exchanges in asia you might have problems, but 1 exchange getting hacked every few months is like straight up noise Both hacks this year were rando places that very few people had money in, and yes 30 million is a drop in the bucket compared to larger exchanges
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Nov 22, 2017 20:30
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Ham Sandwiches posted:Because the guy who has spent a year claiming that bitcoins are a not a scam, is not somehow required to respond to every twist and turn in the annals of Bitcoin The guy who has many times claimed that he desperately wants to return when Buttcoins succeed, shoving the quotes from idiots who didn't believe in it back in their face, now outright refusing to say anything about his own retard words that everyone said would be wrong turning out to be wrong This is truly art
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Nov 22, 2017 20:31
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Blade Runner posted:The guy who has many times claimed that he desperately wants to return when Buttcoins succeed, shoving the quotes from idiots who didn't believe in it back in their face, now outright refusing to say anything about his own retard words that everyone said would be wrong turning out to be wrong What's art is your dumb posting that is at right angles to reality Avoid goofy exchanges in asia or eastern europe and don't participate in weird rear end stuff or use a wallet if you are super loving paranoid You can cash out bitcoins from every major exchange reliably, and for those that know what they are doing / want to live dangerously, the wild world of cryptocurrencies is open to them too But presenting the goofy poo poo as representative of the entire thing is dumb as gently caress
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Nov 22, 2017 20:34
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If a bank gets robbed 30 Mil it's national news. An interesting question may be at what point do 24 news networks pick up the story? You could then use the idea of a mention in national news vs how many millions need to be stolen in Bitcoin to peg a realistic price.
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Nov 22, 2017 20:36
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As we all know, Bitfinex is a small time, rinky dink exchange, and thirty million dollars just outright being stolen isn't a big deal at all (Actually, the worst part is that it legitimately isn't, because of the ridiculous amounts of money usually lost in this nonsense) Of course, even though this is totally all at odds with what you said before, this is not moving the goal posts at all and is in fact good for Buttcoin
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Nov 22, 2017 20:38
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Blade Runner posted:As we all know, Bitfinex is a small time, rinky dink exchange, and thirty million dollars just outright being stolen isn't a big deal at all (Actually, the worst part is that it legitimately isn't, because of the ridiculous amounts of money usually lost in this nonsense) The quote completely leaves out the context of the conversation, which was about whether you could withdraw money from exchanges. And my point was that the "You can't cash out from an exchange" is up there with "Exchanges get hacked every day!" Tether was neither mainstream nor widely used, it was speculative as poo poo (the 20th most popular altcoin!! WOW), how can you ignore allllll that crap just to push the "lmao it was on an exchange, and it got hacked, moving goalposts  "Don't buy Tether, and Bitfinex is shady as gently caress which is why that was a great match, so you heard it from me, when Bitfinex keeps having eventual issues you can consider my stance as having been "Avoid Bitfinex"
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Nov 22, 2017 20:44
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I was big into Litecoin when Bitcoin was around 2500. I wish I bought some BTC instead...
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Nov 22, 2017 20:47
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I am unaware if you realize that your argument that something is a myth just like exchanges getting hacked extremely often when exchanges do absolutely get hacked constantly, is mildly retarded
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Nov 22, 2017 20:52
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Blade Runner posted:I am unaware if you realize that your argument that something is a myth just like exchanges getting hacked extremely often when exchanges do absolutely get hacked constantly, is mildly retarded Two hacks this year, two, out of all the goofy rear end exchanges doing weird stuff all over the globe in the wild world of cryptocurrencies At the same time non cryptocurrency companies get hacked regularly as poo poo and there's a news article daily about it I consider that pretty decent and I'd tell people they can be comfortable using the big dogs like Gemini and Gdax. Make your choices accordingly and good luck
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Nov 22, 2017 20:55
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Remember emptyGox? Those were the days
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Nov 22, 2017 21:50
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Ham Sandwiches posted:Two hacks this year, two, out of all the goofy rear end exchanges doing weird stuff all over the globe in the wild world of cryptocurrencies Idiot goons. $30,000,000 being stolen is nothing when you consider the $450,000,000 in bitcoins that went missing when the exchange that handled 3/4ths of all worldwide bitcoin transactions went down. I mean that's like $6,800,000,000 at today's prices. Even Bitfloor losing 24,000 bitcoins would dwarf that paltry $30,000,000 in today's prices at $192,000,000 lost. Even Bitstamp losing 19,000 bitcoins would dwarf that paltry $30,000,000 in today's prices at $152,000,000 lost. Bitfinex seems like a bump in the road after losing only 120,000 bitcoins which at today's prices would be $960,000,000 When you look at over two dozen examples of exchanges being hacked you only run into about ten billion dollars worth of thefts at today's prices, and one billion dollars worth of thefts at the time of those thefts. Who gives a poo poo about there only being two hacks this year? Thirty million? Get out of here.
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Nov 22, 2017 22:20
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Jose Canseco knows https://twitter.com/JoseCanseco/status/933131368371859456
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Nov 22, 2017 22:58
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Athletes are into cryptocurrency which should be a big red flag that it is a terrible "investment".
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Nov 22, 2017 23:03
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Ham Sandwiches posted:What's art is your dumb posting that is at right angles to reality Bitfinex is one of those major exchanges; it's one of the biggest exchanges in the world and you just said not to use them. Ham Sandwiches posted:Tether was neither mainstream nor widely used, it was speculative as poo poo (the 20th most popular altcoin!! WOW), how can you ignore allllll that crap just to push the "lmao it was on an exchange, and it got hacked, moving goalposts It is widely used on the major exchanges that you just said were trustworthy You are completely oblivious!
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Nov 23, 2017 00:16
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Ham Sandwiches posted:Two hacks this year, two, out of all the goofy rear end exchanges doing weird stuff all over the globe in the wild world of cryptocurrencies Dude just last month I gave you a list of hacks demonstrating that there has been a hack every month since at least June, all in which customers had lost money. They were all top 50 exchanges, some top 10. I pointed this list out to you multiple times. Don't go pretending like those hacks didn't happen. Even 2 hacks per year where customers lose staggering amounts of money would be pretty loving terrible but it's way more than that
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Nov 23, 2017 00:24
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QuarkJets posted:Dude just last month I gave you a list of hacks demonstrating that there has been a hack every month since at least June, all in which customers had lost money. They were all top 50 exchanges, some top 10. I pointed this list out to you multiple times. Don't go pretending like those hacks didn't happen. okay i think it's well established that exchanges carry the massive and huge risk of losing your entire deposit. now that that's settled, we can say "bbitcoins involve high risk, even higher risks are inherent to deposits held with 3rd parties" apparently coinbase has their deposits insured? regardless, just accept that bitcoining is risky case closed
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Nov 23, 2017 00:52
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QuarkJets posted:Dude just last month I gave you a list of hacks demonstrating that there has been a hack every month since at least June, all in which customers had lost money. They were all top 50 exchanges, some top 10. I pointed this list out to you multiple times. Don't go pretending like those hacks didn't happen. Ham sandwiches is an idiot who has a veneer of respectability but as soon as you ask him to provide evidence or present him with suitable evidence countering his position he just ignores you and continues spouting bullshit.
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Nov 23, 2017 00:54
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It happens pretty often that he just arbitrarily decides he's not going to engage with a person's point, so yeah.
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Nov 23, 2017 00:55
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MurderBot posted:So my question is: Will bitcoins ever drop down to like $50 again so I can buy like 10 of em and then wait for them to increase in value to like 100,000 so I can make tons of cash?
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Nov 23, 2017 01:06
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At least the UNIX sysadmin who wrote a book (and in doing so made far more than Hammy off cryptocurrency) provided extensive citations to back up his points.
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Nov 23, 2017 01:06
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vortmax posted:At least the UNIX sysadmin who wrote a book (and in doing so made far more than Hammy off cryptocurrency) provided extensive citations to back up his points.
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Nov 23, 2017 01:10
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Manic Technophile posted:Maybe Ham Sandwich's research is classified government data, that's why he can't share it. Actually.... It makes perfect sense when you think about it. Why else would they be so hyped about getting more people into Prosecution Futures?
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Nov 23, 2017 01:16
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MurderBot posted:aw if you have a worthwhile job we will accept you back. (We will accept you back as long as you try to do your job)
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Nov 23, 2017 01:29
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Literally nothing stopping you from liquidating the kid's college fund and becoming bitcoin rich. Right now
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Nov 23, 2017 02:55
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Mumpy Puffinz posted:if you have a worthwhile job we will accept you back. I have a really good job but I'd rather just sit at home and watch youtube video's and not have to worry about a mortgage. I mean I'm not asking for that much. temple posted:Literally nothing stopping you from liquidating the kid's college fund and becoming bitcoin rich. Right now lol kids are for nerds
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Nov 23, 2017 02:56
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125 bitcoins would make you a millionaire. That would've been 2500$ when it was 20$
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Nov 23, 2017 02:59
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temple posted:125 bitcoins would make you a millionaire. That would've been 2500$ when it was 20$ but there has been millions of $ lost. Like they can't get back, because no one knows the key for them
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Nov 23, 2017 03:25
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