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Grand Theft Autobot posted:There's a guy from reddit who literally borrowed $40k from a "shady local lender" to buy bitcoin yesterday, at 25% interest. His plan was to sell when bitcoin hit 30 or 40k in January. Now he's broke and his first payment is due next week. Please link this
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Dec 22, 2017 21:15
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The silly thing is that even if you know you're in a bubble, it's exceedingly easy to get greedy and set silly rules for yourself like "oh I'm going to wait until it's long term gains only" or "oh I'd like to see just a little bit more" and you lose the ability to make an entirely rational economic decision. I'm exceedingly fortunate because my family is very comfortable so this is really not life and death for us, and I'm also exceedingly fortunate to have basically won a lottery ticket having quintupled my money so far, but it's still a loving bubble and I'm glad I never got really got TOO caught up in the mania.
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Dec 22, 2017 21:19
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Where is the sandwich now?
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Dec 22, 2017 21:23
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EAT FASTER!!!!!! posted:lol I decided to clear my cost base today, because I'm sick of watching this go up and down, and Coinbase tells me my transaction will clear 12/29. Let me guess, if the price moves in my direction they keep the difference and if the price moves against me, it's my loss? Uranium 235 posted:i don't have an answer to your question, but why use coinbase instead of gdax? trades on gdax are instantaneous and i'm pretty sure that you automatically get access to it when you register on coinbase EAT FASTER!!!!!! posted:Oh yeah there it is! Uranium 235 posted:nice yeah these are fake posts lmao
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Dec 22, 2017 21:28
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Also, lolling again because apparently trading between different cryptos is gonna become a taxable event under the new trump tax law.
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Dec 22, 2017 21:29
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Dec 22, 2017 21:33
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There isn't a bubble! this is just the economy at work!
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Dec 22, 2017 21:34
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The maximum size of the crash is limited to $500b or so, unlike housing which was $Infinity.
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Dec 22, 2017 21:35
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Goa Tse-tung posted:yeah these are fake posts lmao
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Dec 22, 2017 21:42
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EAT FASTER!!!!!! posted:Oh yeah there it is! Same, but always $1K more than you made.
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Dec 22, 2017 21:48
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I had some coin lying around in an old wallet that's made me about $500, from a starting point of fifty dollars or so. It almost makes up for all of the time I've had to spend recently explaining to overexcited people why it would be a bad idea to empty their 401k into bitcoin.
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Dec 22, 2017 21:48
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Grand Theft Autobot posted:There's a guy from reddit who literally borrowed $40k from a "shady local lender" to buy bitcoin yesterday, at 25% interest. His plan was to sell when bitcoin hit 30 or 40k in January. Now he's broke and his first payment is due next week. Now seems like a good time to invest in the knee reconstruction business, I'm gonna make a fortune!
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Dec 22, 2017 21:49
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https://trends.google.com/trends/explore?q=alternative%20to%20coinbase
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Dec 22, 2017 21:51
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So you're telling me that Well with this little stutter in the market I'm going to double down on flipping
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Dec 22, 2017 22:18
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Grand Theft Autobot posted:Bubbles don't actually need reasons to burst, they just do sometimes when the investor mix gets toxic. Hyman Minsky has some good books on this topic, under his Financial Instability Hypothesis. That classic panic chart comes from Charles Kindelberger, a colleague and admirer of Minsky's work. Basically, at first there are just true believers, then the "institutional" or hedge investors come along looking for something that could provide good value or even modest growth, then come the speculators, and finally the Ponzis. HSSSSS HSSSSSS WE HATES IT, WE HATES THAT WORD
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Dec 22, 2017 22:25
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Astrolite posted:no crotch bulge, voted 3 no OUCH! either and tbh its not that funny im embarassed i posted it in retrospect
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Dec 22, 2017 22:26
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Fame Douglas posted:Same, but always $1K more than you made. Congratulations on your winnings! Goa Tse-tung posted:yeah these are fake posts lmao https://imgur.com/F9QdCL8 Except the same for 7.5 litecoins and 2.5 ethereum. 
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Dec 22, 2017 22:28
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Dec 22, 2017 22:32
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drat, RIP Hayden. You were truly the greater fool.
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Dec 22, 2017 22:35
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Looking at the Coinbase charts, why are BTC / BCH / ETH / LTC so similar in trend?
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Dec 22, 2017 22:52
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Didn't work out because he wanted to hold instead of hodl
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Dec 22, 2017 22:52
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where's hammy?
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Dec 22, 2017 22:56
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where’s that guy that was snorting at the chart prophecy
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Dec 22, 2017 22:59
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EAT FASTER!!!!!! posted:Congratulations on your winnings! Your USD account seems low atm
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Dec 22, 2017 23:06
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temple posted:where's hammy? You don't want him back in here he's going to be insufferable once it bounces back above 15k. Burt Sexual posted:Your USD account seems low atm lol if you think this money is going anywhere except back into my goddamn bank account where it has learned a very important lesson about touching the poop.
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Dec 22, 2017 23:07
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esky posted:Looking at the Coinbase charts, why are BTC / BCH / ETH / LTC so similar in trend?
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Dec 22, 2017 23:11
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concragulations to everyone who made it out of that turmoil alive
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Dec 22, 2017 23:12
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esky posted:Looking at the Coinbase charts, why are BTC / BCH / ETH / LTC so similar in trend? because there's no pros/cons between them or any other reason they would react differently to any market effect whatsoever it's the same exact people investing in all of them, thinking they're smarter for having a "diverse portfolio" or some poo poo as if all of them aren't going to crash if one of the major ones does
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Dec 22, 2017 23:13
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little munchkin posted:because there's no pros/cons between them or any other reason they would react differently to any market effect whatsoever Bitcoin Sectors needs to be a thing. Like energy, dried fruit, etc.
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Dec 22, 2017 23:16
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Looks like it’s about time for that dead cat bounce
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Dec 22, 2017 23:41
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Jikes posted:I had some coin lying around in an old wallet that's made me about $500, from a starting point of fifty dollars or so. It almost makes up for all of the time I've had to spend recently explaining to overexcited people why it would be a bad idea to empty their 401k into bitcoin. This crypto bidness is all funny and whatever but if the average goon hasn’t made a few hundred dollars from this, just lol
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Dec 22, 2017 23:46
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In case anyone is wondering I'm going to use my ill-gotten gains to start a business, thanks Obama.
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Dec 22, 2017 23:58
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Back when it was all new, some other forum I was on had a guy offering 1mil doge for $13. I thought about it, but I decided a bottle of cheapish Canadian whiskey was more valuable. The doge would have been worth about 7k today, but lol if anyone thinks they would have held this long. I probably should have jumped on it as a lark, but I still think I made the right choice
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Dec 22, 2017 23:59
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Sentient Data posted:Back when it was all new, some other forum I was on had a guy offering 1mil doge for $13. I thought about it, but I decided a bottle of cheapish Canadian whiskey was more valuable. The doge would have been worth about 7k today, but lol if anyone thinks they would have held this long. I probably should have jumped on it as a lark, but I still think I made the right choice Join the club. I bought $100 of Bitcoin in early 2015 to fund my poker account. The price changed so I was left with like 40 cents worth. I'm riding that till retirement
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Dec 23, 2017 00:14
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Wow already almost back to 15k, that was faster than i thought. Man these crpyto markets are hard to predict.
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Dec 23, 2017 00:18
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temple posted:where's hammy? quote:Where is the sandwich now? Hello welcome to the GBS bitcoin thread, here's your posting flow chart: Has the price of bitcoin gone up? Post how that's proof they're a ponzi bubble tulip Has the price of bitcoin gone down? Post "GET HAM SANDWICHES IN HERE TO EXPLAIN" Good luck and please enjoy your stay in the wacky crypto land
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Dec 23, 2017 00:26
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Ham Sandwiches posted:Good luck and please enjoy your stay in the wacky crypto land
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Dec 23, 2017 00:28
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Moxxis Endowment posted:When will you admit that you're
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Dec 23, 2017 00:28
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esky posted:Looking at the Coinbase charts, why are BTC / BCH / ETH / LTC so similar in trend? Because altcoins are pretty much tradeable only relative to BTC. This is why coinmarketcap shows altcoin prices relative to BTC as well as USD. Coinbase is one of the few that lets you trade them directly with USD.
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Dec 23, 2017 00:32
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I'm all the bitcoiners smug about how their store of value rallied to the point where it's now only down 8% in a single day. Truly bitcoin is just fine no bubble to see here please continue pouring money into this exceptionally useful financial instrument as per normal.
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Dec 23, 2017 00:35
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