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A great many pages I ago I asked a question and multiple people answered. Thanks guys, I now know what Tether is. How anyone believes in this is still mystifying though. The sooner this stuff crashes properly the bitter.
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Jan 17, 2018 11:41
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Marketing New Brain posted:Also when you try to sell it Warren Buffett won't yell at you to HODL and threaten your life on Reddit. 
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Jan 17, 2018 11:48
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I think Bitcoin is a technology not a get rich scheme. Just like electricity or the internet, Bitcoin is a technology that is changing dramatically the way we function as human beings, how we transfer value between us. Volatility is induced by those who just want to get rich, panic sells are orchestrated by whales who know exactly what kind of people recently entered the market: uninformed, anxious and inexperienced "traders" who WILL sell their coins for a loss, basically handing money over to those willing to be patient. This is the story of Bitcoin since the beginning and with the crazy amount of people rushing to the market is only gonna get worse. However, when Bitcoin reaches mass adoption and acceptance by the majority of the world, volatitly will be a thing of the past. Why would the world accept Bitcoin you might ask, well because it is simply better, cheaper and more efficient than what we have now. Remember, there were sceptics of the internet, electricity, even loving toasters, there will always be resistance to innovation, it is simply our self preservation instinct kicking in. That doesn't change the fact that innovation always win.
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Jan 17, 2018 12:00
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lazorexplosion posted:I think Bitcoin is a technology not a get rich scheme. Just like electricity or the internet, Bitcoin is a technology that is changing dramatically the way we function as human beings, how we transfer value between us. Volatility is induced by those who just want to get rich, panic sells are orchestrated by whales who know exactly what kind of people recently entered the market: uninformed, anxious and inexperienced "traders" who WILL sell their coins for a loss, basically handing money over to those willing to be patient. Source your quotes.
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Jan 17, 2018 12:02
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Tether is the natural progression of crypto’s steady and accelerated march through the history of human finance, it represents the quantitative easing point, soon it will careen gracefully out of our timeline and into the future
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Jan 17, 2018 12:02
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lazorexplosion posted:However, when Bitcoin reaches mass adoption and acceptance by the majority of the world, volatitly will be a thing of the past. Why would the world accept Bitcoin you might ask, well because it is simply better, cheaper and more efficient than what we have now. Honest question: what about the huge transaction fees and time to process and the huge amount of eletricity required to mine it? I really dont see how it can be still practical as a currency
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Jan 17, 2018 12:11
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Alpha Mayo posted:I still can't get over the fact that the biggest exchange printed fake money to save Bitcoin from going under 10000, while the biggest "legit" exchange, Gdax, mysteriously went offline at the same time. lol The tether printing is clear market manipulation and is absolutely ridiculous. Amazing to watch in real time last night - printed new tethers followed by an immediate price recovery. That I agree is ridiculous. The Gdax thing is weird too, but less “unacceptable”. Trading exchanges for the traditional stock market all reserve the right to arbitrarily suspend trading on one or all instruments. Can be based in extreme volatility concerns, or desire to protect the investor. SEC can even suspend trading on individual instruments for up to 10 days. There are also stock and market wide thresholds that trigger a pause in trading to allow the market to stabilize. http://www.finra.org/investors/alerts/when-trading-stops-halts-suspensions-other-interruptions Now lol at the idea that the Gdax thing was anything akin to an intentional trading halt. Just saying in a normal regulated market we may have also seen a pause in trading.
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Jan 17, 2018 12:11
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lazorexplosion posted:I think Bitcoin is a technology not a get rich scheme. Just like electricity or the internet, Bitcoin is a technology that is changing dramatically the way we function as human beings, how we transfer value between us. Volatility is induced by those who just want to get rich, panic sells are orchestrated by whales who know exactly what kind of people recently entered the market: uninformed, anxious and inexperienced "traders" who WILL sell their coins for a loss, basically handing money over to those willing to be patient. How much did you lose?
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Jan 17, 2018 12:18
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Waltzing Along posted:How much did you lose? I actually also stumbled onto that comment in the /r/bitcoin daily discusso thread
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Jan 17, 2018 12:26
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This thing sounds like a paid for ad: https://www.cnbc.com/2018/01/16/skeptics-say-bitcoin-has-no-value-heres-why-theyre-wrong.html I laughed when they talked about the utility of Bitcoin. quote:Bitcoin's utility lies in its potential to be a more efficient currency or commodity than we already have." And they go on to explain how you can buy a donut with it as easily as you can a house or mansion. I'd hate to think what the fee on just buying a $.70 donut would be. And I don't see how it's more useful than actual cash that I can use to buy something from someone when we don't have access to the Internet.
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Jan 17, 2018 12:26
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I hate having to wait 10 minutes for the next block to be mined for my transaction to go through at the donut shop. Even worse when my donut transaction ends up in the wrong chain.
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Jan 17, 2018 12:27
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The fees are only $20 now that bitcoin is down 45% so things are looking up for bitcoin!
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Jan 17, 2018 12:30
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Fame Douglas posted:I hate having to wait 10 minutes for the next block to be mined for my transaction to go through at the donut shop. Even worse when my donut transaction ends up in the wrong chain.
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Jan 17, 2018 12:34
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We've already been though this how this works, you go to a bar and try to pay by bitcoin. The bartender remarks that you're the only one who has ever attempted it. You pay by bitcoin, paying a $20 fee to buy $15 in drinks. Then you ask the bartender how it works if the transaction could take hours to be confirmed. Then the bartender tells you he didn't realize it would be like that and makes you pay by credit card. He tells you he'll cancel the bitcoin transaction and the machine says it's canceled but actually you can't cancel as you find out the next day when the transaction finally goes through. The bartender can't send your $15 of bitcoin back because the fee would be greater than the amount and you're too embarrassed to go back and ask anyway so you paid by both credit card and bitcoin and paid $50 for $15 of drinks. (This literally happened)
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Jan 17, 2018 12:44
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 https://web.archive.org/web/20180117034728/https://www.reddit.com/r/bitconnect
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Jan 17, 2018 12:49
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Elias_Maluco posted:Honest question: what about the huge transaction fees and time to process and the huge amount of eletricity required to mine it? I really dont see how it can be still practical as a currency stop spreading FUD, which of those jew bankers is paying you to write these things?!
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Jan 17, 2018 12:51
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Sammus posted:Please help, I have invested over $500,000 into Bitconnect and currencies on the exchange with the help of a business loan. I planned to withdraw within a month or two. Now I cant access the funds to sell and the market crashed, I cannot pay for the business, my family needs the funds, I need help. Please for the sake of all that is good in the name of assistance, I need financial advice. This is the worst day and I feel like making $5,000,000 by gambling on the crypto market with another loan before its too late and the prices go up again (using another exchange). I cannot deal, please help and give advice. Can't even check out the BitConnect subreddit because it is invite only. I really wanted to read other people's misery, but maybe it's better if I don't. My friend was talking to me like 3-4 days ago about some coin where it didn't matter if the market went up or down, you still made money. I assumed he meant bitconnect, but I didn't say anything because he gets really defensive when I disagree with him. I really hope he didn't lose everything or worse, talk his brother into investing a large amount of his 20k that he already had in the market.
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Jan 17, 2018 12:55
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Jan 17, 2018 12:56
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I would blow Dane Cook posted:
You know things are bad when the suicide hotline is posted twice Also from the middle of that screenshot 
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Jan 17, 2018 12:57
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the most hilarious part about tether is currently this: 44 Kraken USDT/USD $11,536,700 $1.03 0.23% Recently Yes that's right, one Tether currently buys you $1.03 USD on Kraken. This happens every single time the market is down a lot. There's an explanation for this but the real answer is crypto.txt
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Jan 17, 2018 12:59
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I would blow Dane Cook posted:
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Jan 17, 2018 13:00
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Furiously F5’ing gdax to see BTC drop beyond 10k
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Jan 17, 2018 13:03
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There is no way that tether is legit, but people don't care because it's pushing up the price of Bitcoin.
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Jan 17, 2018 13:04
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I would blow Dane Cook posted:There is no way that tether is legit, but people don't care because it's pushing up the price of Bitcoin. Not only do they not care, they are APPLAUDING
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Jan 17, 2018 13:05
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lazorexplosion posted:as your financial advisor I advise you to buy Tether, i've got a good feeling 1 per dollar is just the floor 
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Jan 17, 2018 13:05
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yesterday's bounce has been totally erased so this should be another eventful day for bitcoin crash-watchers
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Jan 17, 2018 13:10
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Looks like somebody maxed out his mother's credit card to buy bitcoin without telling her. At least the fact that most crypto enthusiasts are basement dwellers means they're unlikely to take the traditional response of jumping off a tall building.
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Jan 17, 2018 13:14
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I would blow Dane Cook posted:
lol 
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Jan 17, 2018 13:18
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OhFunny posted:So it's like a central bank intervening to stop a stock crash. That's basically all Libertarianism is in the end. People want modern conveniences, modern technology, and a modern standard of living. Those things are only possible with an advanced society and an active government that spends lots of money.
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Jan 17, 2018 13:27
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Ironically Tether is probably a far better currency than any of the other cryptocoins. Pegged to the dollar, controlled by a central authority, seems not to struggle with fees or volume of trades, pointless to speculate on. Tether, the currency of the future!
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Jan 17, 2018 13:41
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It seems like, looking at the chart, there was another gigantic high volume period right at 10,000. So it's what, either a million limit orders being sent through or some type of price manipulation?
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Jan 17, 2018 13:43
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Unfortunatly, I think the chicken nuggets story is from a 4chan meme
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Jan 17, 2018 13:46
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I can't even comprehend why a crypto-currency is necessary. I have used cash for less than 1% of my transactions since the early 2000's. I can pay bills with my bank account online, I can transfer money to people with any number of apps connected to my bank accounts, I use online investment accounts like Vanguard and Betterment and never interact with cash, and I can make daily purchases using debit or credit cards. Why the gently caress is a crypto even needed?
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Jan 17, 2018 13:49
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Grand Theft Autobot posted:I can't even comprehend why a crypto-currency is necessary. I have used cash for less than 1% of my transactions since the early 2000's. I can pay bills with my bank account online, I can transfer money to people with any number of apps connected to my bank accounts, I use online investment accounts like Vanguard and Betterment and never interact with cash, and I can make daily purchases using debit or credit cards. Can't be tracked, or something
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Jan 17, 2018 13:51
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 holy loving
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Jan 17, 2018 13:51
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Grand Theft Autobot posted:I can't even comprehend why a crypto-currency is necessary. I have used cash for less than 1% of my transactions since the early 2000's. I can pay bills with my bank account online, I can transfer money to people with any number of apps connected to my bank accounts, I use online investment accounts like Vanguard and Betterment and never interact with cash, and I can make daily purchases using debit or credit cards. and also for buying drugs.
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Jan 17, 2018 13:55
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WalletBeef posted:
Thread: Join my suit against Crypto-Dan
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Jan 17, 2018 13:58
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Jan 17, 2018 14:00
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quote:“I invested my college savings in Bitcoin. Is this a dip or a crash?” asked one user. “I am very scared since I don’t have more money to pay for school starting March. It’s all on cryptos.”
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Jan 17, 2018 14:04
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Jan 17, 2018 14:06
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