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Typo posted:so guys If you can't be bothered to submit a $20+ fee for our fee-less currency of the future, then I am afraid that you are not ready for the future.
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Dec 11, 2017 22:24
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Typo posted:so guys If your BTC is on an exchange already, transaction times for the blockchain don't matter. You're trading the exchange's internal database, not the wider blockchain. Helpfully that also means the exchange doesn't have to actually posses the bitcoin they're selling you.
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Dec 11, 2017 22:24
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Velocity of bitcoin
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Dec 11, 2017 22:26
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Typo posted:so guys
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Dec 11, 2017 22:27
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temple posted:How did you guys get so smart at money trading stuff? I know bitcoin is a scam because its nerd fun money. Unless you're an engineer or a doctor (they immediately know everything about everything they touch, just ask them) the same as everyone else. By reading, studying, or experience. But as I prove almost every single month, having knowledge just makes your stupid decisions funnier. Solice Kirsk fucked around with this message at 22:55 on Dec 11, 2017 |
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Dec 11, 2017 22:53
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Typo posted:so guys I'm wondering if there can even be a run considering you can't get your bitcoins out as it is.
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Dec 11, 2017 23:21
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divabot posted:this is true in made-up bitcoin digital goldbug economics, but not in actual economics. quote:there are plenty of whales who could crash the price any time. having another whale come online wouldn't actually change that. all the other whales are priced in because the markets have been trading with them for years quote:it would make the news, but you know that bitcoiners' reaction would be to loudly come up with spurious reasons why THIS IS FINE and the thing they said 5 minutes before was TOTALLY INCORRECT and HOW COULD ANYONE SAY THAT as long as - and this is the key point - they think they can make the number stay up.
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Dec 11, 2017 23:23
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WAR DOGS OF SOCHI posted:I'm wondering if there can even be a run considering you can't get your bitcoins out as it is. I do not believe it ever did, of course.
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Dec 11, 2017 23:33
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do people actually trade bitcoins on exchanges though? i thought the market was comprised entirely of "investors" holding long positions
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Dec 11, 2017 23:36
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Novo posted:do people actually trade bitcoins on exchanges though? i thought the market was comprised entirely of "investors" holding long positions Yeah, tons of crazy margin trading going on Like, some sites offer 1000x margin trading
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Dec 11, 2017 23:38
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Novo posted:do people actually trade bitcoins on exchanges though? i thought the market was comprised entirely of "investors" holding long positions
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Dec 11, 2017 23:38
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The Glumslinger posted:Like, some sites offer 1000x margin trading Holy poo poo really? That should be illegal as gently caress my god.
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Dec 11, 2017 23:38
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Novo posted:do people actually trade bitcoins on exchanges though? i thought the market was comprised entirely of "investors" holding long positions and if you want to exclude the exchanges that use tether, just look at gdax: they have $800 million of volume today, just for bitcoin. another $500 million for litecoin
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Dec 11, 2017 23:39
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COMRADES posted:Holy poo poo really? idk about 1000x but there is definitely 100x margin on bitmex, which is stupid
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Dec 11, 2017 23:41
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Uranium 235 posted:idk about 1000x but there is definitely 100x margin on bitmex, which is stupid There is some twitter account tracking when people get margin called on that site
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Dec 11, 2017 23:42
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Uranium 235 posted:idk about 1000x but there is definitely 100x margin on bitmex, which is stupid
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Dec 11, 2017 23:43
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lol at anyone who trades at 100x margin they must have balls of steelThe Glumslinger posted:There is some twitter account tracking when people get margin called on that site lol These guys are gonna have all their poo poo frozen by the SEC i'm callin it now
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Dec 11, 2017 23:43
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Moridin920 posted:lol at anyone who trades at 100x margin they must have balls of steel
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Dec 11, 2017 23:47
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100x is just brazen as gently caress
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Dec 11, 2017 23:48
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Moridin920 posted:lol at anyone who trades at 100x margin they must have balls of steel SEC has no authority. That's a selling point.
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Dec 12, 2017 00:13
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Solice Kirsk posted:SEC has no authority. That's a selling point. lol https://www.coindesk.com/sec-halts-multimillion-dollar-munchee-ico-securities-violations/ quote:Dec 11 2017 Moridin920 fucked around with this message at 00:18 on Dec 12, 2017 |
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Dec 12, 2017 00:16
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Nessus posted:Some. Apparently a guy sold 500 butts on one exchange last night and the price dropped 6%. Uh oh bitcoiners, better get out while you can before someone else takes YOUR money! *crosses fingers*
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Dec 12, 2017 00:18
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D1Sergo posted:Uh oh bitcoiners, better get out while you can before someone else takes YOUR money!
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Dec 12, 2017 00:22
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Moridin920 posted:lol Well this doesn't bode well with my new found hatred of fiat currency and mistrust of banking and government institutions. I do believe I will cash out of my Litecoins and invest in something more secure such as emeralds or bars of silver.
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Dec 12, 2017 00:24
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Uranium 235 posted:how do you define "major price movement"? we literally had that discussion in this thread, so see previous answer the hypothesis that the Satoshi stash would trash the price presumes whoever has it wants to trash the price. if you're assuming that as well, say so. but the fact of a Satoshi coin moving doesn't mean that whoever has it wants to trash the price.
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Dec 12, 2017 00:26
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Solice Kirsk posted:Well this doesn't bode well with my new found hatred of fiat currency and mistrust of banking and government institutions. I do believe I will cash out of my Litecoins and invest in something more secure such as emeralds or bars of silver. I'm doubling down on WoW tokens! The next Xpac is going to be a game-changer, I can feel it!
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Dec 12, 2017 00:31
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divabot posted:we literally had that discussion in this thread, so see previous answer Or had hacked bitcoin, which, I mean, there's increasing motive now. 
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Dec 12, 2017 00:39
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Typo posted:so guys can't have a run on the banks if you're stuck crawling 
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Dec 12, 2017 00:48
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Triglav posted:If your BTC is on an exchange already, transaction times for the blockchain don't matter. You're trading the exchange's internal database, not the wider blockchain. I ain't no big city lawyer but that there sounds like a heapin' helpin' of trouble
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Dec 12, 2017 00:59
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divabot posted:we literally had that discussion in this thread, so see previous answer it takes more than "tens of bitcoins" to move the price in any major way. on gdax, right now, you'd need more than 200 to move the price by 1%, and that's just a single market buy that would move the price for a split second. in reality, traders will add orders to the book as you try to move the price, so it takes more than that bitcoin did have a major change in price in the last 24 hours, but it also has 41,000 volume on gdax. not tens as for the satoshi stash, i'm 100% sure that the price would drop significantly if those bitcoins move. not necessarily forever, because you're right that if the mover doesn't actually sell them then the long-term effect would be negligible, but it would be noticed and i think the exchanges would react in the short-term this same thing happened with ethereum at the peak of ICO mania--everyone was aware that ICOs were getting tens of thousands of ethereum and that if they wanted to use those to fund their development, they'd have to sell them on the market. ethereum prices dropped and stayed depressed for months Uranium 235 fucked around with this message at 01:04 on Dec 12, 2017 |
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Dec 12, 2017 00:59
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Uranium 235 posted:this same thing happened with ethereum at the peak of ICO mania--everyone was aware that ICOs were getting tens of thousands of ethereum and that if they wanted to use those to fund their development, they'd have to sell them on the market. ethereum prices dropped and stayed depressed for months Kinda puts the kibosh on using ether to buy coffee doesn't it? Oh man the ICO market is red hot, oh gently caress I just lost half of my spending money.
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Dec 12, 2017 01:08
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Dmitri-9 posted:Kinda puts the kibosh on using ether to buy coffee doesn't it? Oh man the ICO market is red hot, oh gently caress I just lost half of my spending money. No this isn't parasitic on an actual economy, why?
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Dec 12, 2017 01:11
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Solice Kirsk posted:Well this doesn't bode well with my new found hatred of fiat currency and mistrust of banking and government institutions. I do believe I will cash out of my Litecoins and invest in something more secure such as emeralds or bars of silver. Lol I invested with “Munchees”, I was drunk and put down 1 large when I was stoned.
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Dec 12, 2017 01:26
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I plan on spending my LTC on Amazon in the form of solid gold jewelry in 4 months once the price has gone up 2000%.
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Dec 12, 2017 01:29
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Solice Kirsk posted:I plan on spending my LTC on Amazon in the form of solid gold jewelry in 4 months once the price has gone up 2000%. Can I have a baller bracelet of questionable lead composition?
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Dec 12, 2017 01:33
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i knpw someone who took out a loan for bitcoin
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Dec 12, 2017 01:34
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eonwe posted:i knpw someone who took out a loan for bitcoin how is that going
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Dec 12, 2017 01:34
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Burt Sexual posted:Can I have a baller bracelet of questionable lead composition? I shall buy for you one of these.
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Dec 12, 2017 01:41
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communist kangaroo posted:how is that going i guess at the moment he is up like about anyone seems like a bad idea to me tho
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Dec 12, 2017 01:42
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eonwe posted:i guess at the moment he is up like about anyone Tell him to liquidate however much to pay down the debt and then ride the bubble with just his gains.
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Dec 12, 2017 01:43
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