|
BTC is an intangible butt that you deposit into.
|
# ? Dec 9, 2017 19:57 |
|
|
# ? May 30, 2024 19:53 |
|
mojo1701a posted:This may be a stupid question, but wouldn't not being able to sell as easily as it is to buy have an effect on price, in theory? I know Bitcoin was designed to be deflationary, but if the exchanges are only really pushing one side of a transaction (ie. purchases), wouldn't this not make it go up on aggregate? The way I understand it is as follows. The purported intrinsic value of bitcoin is as a mode of exchange Since the value of a mode of exchange is directly linked to it's liquidity, being unable to easily exchange it one way or another limits it's value. As a store of wealth, it lacks in intrinsic value and is highly volatile and so isn't an effective investment asset. So theoretically Bitcoin is being valued based on anticipation that it becomes widely accepted and highly liquid. In reality, it's being valued because up Up UP!
|
# ? Dec 9, 2017 20:21 |
|
Good Citizen posted:Is that weird furry guy with the fox penis coffee table still doing dumb bitcoin stuff constantly? Logan something I think. Now that poo poo was funny https://twitter.com/Rassah?s=09 This dude?
|
# ? Dec 9, 2017 20:43 |
|
Boon posted:The way I understand it is as follows. The purported intrinsic value of bitcoin is as a mode of exchange I'm an idiot and forgot that the exchanges done cash out as soon as you sell. In my defence, it was to early on the weekend for me to think. The speculation part I totally get. I just don't really delve into the exchanges that much.
|
# ? Dec 9, 2017 20:48 |
|
|
# ? Dec 9, 2017 21:28 |
|
But he keeps rolling into a ditch
|
# ? Dec 9, 2017 22:10 |
|
Popcorn tomorrow as the first bitcoin futures contract opens for business. Huge dollar contracts though at a minimum, like at least the equivalent of five bitcoins or something I'll let someone else explain.
|
# ? Dec 9, 2017 23:55 |
|
The futures that open tomorrow are 1 BTC. Next week's are 5.
|
# ? Dec 10, 2017 00:32 |
|
wide stance posted:Popcorn tomorrow as the first bitcoin futures contract opens for business. Is this good or bad for Bitcoin ?
|
# ? Dec 10, 2017 00:43 |
|
It's gonna skyrocket
|
# ? Dec 10, 2017 01:14 |
|
that dude
|
# ? Dec 10, 2017 01:16 |
|
mojo1701a posted:I'm an idiot and forgot that the exchanges done cash out as soon as you sell. Keep in mind that the most popular bitcoin exchange by far is Bitfinex. Bitfinex isn't able to let people withdraw USD (or basically anything else) because they are so blatantly shady that no banks will work with them. When you can't withdraw USD, what do you do with it? You buy cryptocurrencies. This puts upward pressure on the price.
|
# ? Dec 10, 2017 03:33 |
QuarkJets posted:Keep in mind that the most popular bitcoin exchange by far is Bitfinex. Bitfinex isn't able to let people withdraw USD (or basically anything else) because they are so blatantly shady that no banks will work with them. e: I looked at r/bitcoin, because I'm an idiot, and good golly. quote:What does this mean? It means bitcoin is edging into the hearts and minds of the general public. This COMPLETELY DEPENDS ON A STRONG BITCOIN COMMUNITY. Do not be disheartened if the price dips dramatically. Don't give up on your hodlings. Nessus fucked around with this message at 03:54 on Dec 10, 2017 |
|
# ? Dec 10, 2017 03:36 |
|
Reddit user 5y64r1t3 has a problem ok maybe they have a few problems
|
# ? Dec 10, 2017 04:03 |
|
lazorexplosion posted:Reddit user 5y64r1t3 has a problem Man that’s a bummer
|
# ? Dec 10, 2017 04:29 |
|
Wow an artificially-high price because nobody can pull their money out! Brilliant!
|
# ? Dec 10, 2017 05:22 |
|
|
# ? Dec 10, 2017 05:29 |
|
The smart money is buying in. This guys post history is full of sports betting
|
# ? Dec 10, 2017 05:34 |
|
More smart money in bitcoin this is like every five minutes on /r/bitcoin
|
# ? Dec 10, 2017 05:46 |
|
lazorexplosion posted:ok maybe they have a few problems What website is that?
|
# ? Dec 10, 2017 05:54 |
|
lazorexplosion posted:Reddit user 5y64r1t3 has a problem Poor guy, someone should send him some bitscoin
|
# ? Dec 10, 2017 06:00 |
|
lazorexplosion posted:More smart money in bitcoin Send Ham Sandwiches over to remind them that bitcoin is free money
|
# ? Dec 10, 2017 06:09 |
|
There was a year and a half period where Bitcoins price was relatively stable ($250-$400), transactions went thru in 20 minutes with no fees. If it didn't take off as a currency back then, what the gently caress makes people think it'll happen now?
|
# ? Dec 10, 2017 06:11 |
|
Love Stole the Day posted:What website is that? it was https://atomiks.github.io/reddit-user-analyser/
|
# ? Dec 10, 2017 06:15 |
Toys For rear end Bum posted:There was a year and a half period where Bitcoins price was relatively stable ($250-$400), transactions went thru in 20 minutes with no fees. e: https://twitter.com/Beautyon_/status/939586017027387392 persuasive, I must say Nessus fucked around with this message at 09:09 on Dec 10, 2017 |
|
# ? Dec 10, 2017 06:29 |
|
|
# ? Dec 10, 2017 15:15 |
|
Nessus posted:That doesn't sound like it's making me rich for owning an object at all! That guy is extremely mad about this Forbes Article on Bitcoin https://www.forbes.com/sites/jasonbloomberg/2017/12/09/seven-lies-bitcoin-fans-tell-themselves-and-anyone-else-who-will-listen/ Forbes posted:Seven Lies Bitcoin Fans Tell Themselves (And Anyone Else Who Will Listen)
|
# ? Dec 10, 2017 17:13 |
|
|
# ? Dec 10, 2017 17:36 |
|
Forbes posted:Lie #7: I’m Full of Crap.
|
# ? Dec 10, 2017 17:57 |
|
political correctness out of control
|
# ? Dec 10, 2017 18:10 |
|
Lol
|
# ? Dec 10, 2017 18:11 |
|
https://twitter.com/ButtCoin/status/939356752939712512
|
# ? Dec 10, 2017 18:20 |
|
I don't really know how futures work, but from a quick Google it seems like it's ripe for exploitation in Bitcoin where huge whales can manipulate the price relatively easily. Couldn't a hedge fund or something along those lines make ridiculous bank by pumping the price up artificially after buying a shitton of futures at a cheaper price?
|
# ? Dec 10, 2017 18:57 |
|
lazorexplosion posted:The smart money is buying in. lazorexplosion posted:More smart money in bitcoin l m a o lol this poo poo should be loving illegal Bardeh posted:I don't really know how futures work, but from a quick Google it seems like it's ripe for exploitation in Bitcoin where huge whales can manipulate the price relatively easily. Couldn't a hedge fund or something along those lines make ridiculous bank by pumping the price up artificially after buying a shitton of futures at a cheaper price? Yup!
|
# ? Dec 10, 2017 18:59 |
|
https://twitter.com/russharben/status/939811621333028866quote:In fact, “There weren’t that many people involved and the economic repercussions were pretty minor,” Goldgar says. “I couldn’t find anybody that went bankrupt. If there had been really a wholesale destruction of the economy as the myth suggests, that would’ve been a much harder thing to face.” So....... like bitcoin
|
# ? Dec 10, 2017 19:11 |
|
When cherry picking r/bitcoin it must have hurt to see the new cars, people getting out of debt, buying houses, quitting their job to travel year-round, etc. I suppose those are less authentic than the obvious low-effort FUD shills and crazies.
|
# ? Dec 10, 2017 19:22 |
|
wide stance posted:When cherry picking r/bitcoin it must have hurt to see the new cars, people getting out of debt, buying houses, quitting their job to travel year-round, etc. ham sandwich alt spotted
|
# ? Dec 10, 2017 19:23 |
|
lol you can be a billionaire too!
|
# ? Dec 10, 2017 19:24 |
|
quote:In fact, “There weren’t that many people involved and the economic repercussions were pretty minor,” Goldgar says. “I couldn’t find anybody that went bankrupt. If there had been really a wholesale destruction of the economy as the myth suggests, that would’ve been a much harder thing to face.” the "myth" doesn't suggest that though lol the story is that the tulip market went bust and that's exactly what happened. no one ever suggested tulips could crash the entire country's/world's economy. BTC won't either bc it's a blip but that doesn't mean people aren't going to be left holding the bag.
|
# ? Dec 10, 2017 19:24 |
|
|
# ? May 30, 2024 19:53 |
|
If they actually truly managed to get any sum of real money out of the insanity then more power to them. Hope they paid taxes. They got lucky. How many days has it been since an exchange has shut down withdrawals, disabled trading, or been hacked again?
|
# ? Dec 10, 2017 19:29 |