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Inept posted:I mined like 40 bitcoins back in 2011 and sold them on magic the gathering exchange o well gj on making money on the butts
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Jan 28, 2018 05:32
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I am edging so hard to the Gdax v Bitfinex charts right now, all signs pointing to IMMINENT TETHER COLLAPSE
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Jan 28, 2018 05:34
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i think maybe you should lay low on the predictions for a bit
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Jan 28, 2018 05:39
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Alpha Mayo has become Nega Ham Sandwiches
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Jan 28, 2018 05:39
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Alpha Mayo posted:I am edging so hard to the Gdax v Bitfinex charts right now, all signs pointing to IMMINENT TETHER COLLAPSE bro u gotta chill, it will all crash in an amusing way but u gotta let it go although there was one time if I remember right where someone posted on reddit or butttalk or somewhere that it’s crashing and that caused a crash lol
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Jan 28, 2018 05:41
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let it mellow posted:its enough to say gently caress u to the world and do what u want when u want, duh it's enough to do whatever you want unless whatever you want involves living in an expensive city 
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Jan 28, 2018 06:37
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Uranium 235 posted:it's enough to do whatever you want unless whatever you want involves living in an expensive city nah, u missed the point
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Jan 28, 2018 06:50
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VictorianQueerLit posted:Yeah, I've been following butts since the beginning and even I thought when it broke the $10,000 level recently that that was it and things would crash to probably $5,000 or less for a really really long time. Common sense would lead you to believe that crashing more than 50% in value after historic highs that weren't deserved is a clear signal that the price should be drastically lower. Nope. How can one be so right financially, yet so wrong politically. Idg you Vic
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Jan 28, 2018 07:03
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Any country banning crypto at this point is dooming themselves and their citizens to become a poverty-stricken, third-world shithole
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Jan 28, 2018 07:15
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ghosTTy posted:Any country banning crypto at this point is dooming themselves and their citizens to become a poverty-stricken, third-world shithole Why?
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Jan 28, 2018 07:31
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any country banning crypto is doomed to not get a birthday present this year mom
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Jan 28, 2018 07:38
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edit: nevermind. that was a dumb post
Slightly Absurd fucked around with this message at 07:50 on Jan 28, 2018 |
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Jan 28, 2018 07:39
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Burt Sexual posted:How can one be so right financially, yet so wrong politically. Idg you Vic If it helps, I actually don't care about politics at all. I find the loudest and most upset people and break out the devil's advocacy. The topic is usually politics because that's sports for nerds and they get way too into it. The woke/outrage types happen to be the best targets in terms of effort versus reaction. I can't resist that low hanging fruit where you can completely 100% agree with someone but be treated like their worst possible enemy because you add something to the conversation which they process as disagreement. I like doing it a little too much and have pushed some people a little too hard though. I have the GBS wokes calling me a nazi sympathizer because I argued against using violence as speech and I have Star Citizen people calling me a nazi sympathizer because when they were "literally shaking" at Charlottesville I mocked the idiots marching as glorified larpers instead of being super upset at the fourth reich rising and being scared of the Nazi death squads in the streets. I tend to post seriously about things like Bitcoins though because it's actually a pretty complex subject that almost everyone is wrong about in some capacity. Goons are right that Bitcoins are stupid and have no real use. They are wrong when they say they are worthless and that the market is going to completely crash. True believers are right when they talk about the market having staying power but they are wrong when they talk about how monetary value is a statement of intrinsic value or utility. I try and be constructive here and bring a moderate/neutral opinion since there are tons of goons that don't let everyone know they actually have a financial stake in this insanity. This isn't making a liberal stereotype furious by not agreeing enough. Shitposting here could actually hurt people. A common problem on pretty much any medium dealing with cryptocurrency, even these forums, is that people who stumbled rear end backwards into profits with their completely blind speculative gambles now think they are market experts. Because they made money the uninformed naturally gravitate to them and listen to them so there needs to be a rational voice to counteract the retards bragging about how they won the lottery and will now guide you through selling all of your possessions to buy lottery tickets.
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Jan 28, 2018 08:28
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let it mellow posted:its enough to say gently caress u to the world and do what u want when u want, duh Then I agree, $2M is not "gently caress you" money. It's "all of my living expenses are taken care of, I can now pursue any path I want without having to work for a living" money e: iirc in the US making more money per year makes people happier up until an average of ~$70k/year. If you make at least that much then congratulations, you've basically won at life; more than that is fine but it probably isn't going to make you happier. QuarkJets fucked around with this message at 08:59 on Jan 28, 2018 |
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Jan 28, 2018 08:32
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The spread between usdt and fiat exchanges is growing, tether is at under a dollar, could it be happening?
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Jan 28, 2018 08:37
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VictorianQueerLit posted:I tend to post seriously about things like Bitcoins though because it's actually a pretty complex subject that almost everyone is wrong about in some capacity. Goons are right that Bitcoins are stupid and have no real use. They are wrong when they say they are worthless and that the market is going to completely crash. True believers are right when they talk about the market having staying power but they are wrong when they talk about how monetary value is a statement of intrinsic value or utility. I'd like to work through this logic for a moment. I've had a few tumblers at this point so bear with me You say that goons are right that Bitcoins have no real use. Okay great we're starting from the same page. Next you say that goons are wrong then they say that are worthless. Okay, they definitely have a price and I don't know anyone who would say otherwise, but they have no real value, deriving from how they have no real use. They're essentially pet rocks if pet rocks could be supply-constrained and there were thousands of people trying to pump the value of pet rocks specifically. Next you say that the market is not going to completely crash. I don't think that the value of a bitcoin will ever hit $0. No one makes this claim. That bar is so low that it's not even really worth thinking about; there will always be at least 1 idiot wash trading with himself, and likely several idiots trading bitcoins between each other, giving bitcoin some price. But what keeps the price of bitcoin aloft? New investors have to put in more money than is lost daily to bitcoin mining expenses. Old investors are selling to the new investors. What happens when there are no more new investors? Doesn't the whole thing just collapse like a ponzi scheme at that point, since bitcoin has no actual uses beyond a speculative investment?
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Jan 28, 2018 08:47
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Uranium 235 posted:it's enough to do whatever you want unless whatever you want involves living in an expensive city It's more than I'll ever earn in my useless life 
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Jan 28, 2018 08:57
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I mean, sure, it's not hookers and blow on a 200 foot megayacht in a manmade lake on the loving moon money, but it would certainly mean a (perhaps on the slightly modest side) middle-class existence for the rest of your life whether you work or not or whatever profession you choose to follow with essentially endless opportunity to pursue whatever education and occupation you want, if you chose to, and to add to that sum, if you wanted. But at the core what buttcoiners really care about is their fantasy of being the 21st century robber-barons of the SURELY INEVITABLE cryptofuture.
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Jan 28, 2018 09:07
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QuarkJets posted:I'd like to work through this logic for a moment. I've had a few tumblers at this point so bear with me This is the classic argument in cryptocurrencies. Value versus worth. Plenty of goons and critics all over want to make predictions or speculations based on the lack of true value being objectively true and completely logical. These people are wrong because they are applying logic to the market for these pet rocks which has established and persisted while being completely insane and illogical. On the other side supporters want to claim that by simply being worth money the concept or worthiness of the cryptos have been proven in some way. They are wrong. Bitcoin was a proof of concept white paper that has been completely useless for all of it's hypothetical purposes from day 1. Goons were completely right about that. Treating this as an indication of anything in a market of raw stupidity is what most people are wrong about. It's a factual statement that this poo poo is useless but drawing rational conclusions in a irrational environment is a mistake. Everyone wants to attribute the monetary value/intrinsic worth to the cryptos themselves either positively or negatively and completely miss that this is raw monetized stupidity. Getting distracted and treating this poo poo like any real world concept like stocks or applying logic and rationality is what is wrong. quote:Next you say that the market is not going to completely crash. I don't think that the value of a bitcoin will ever hit $0. No one makes this claim. That bar is so low that it's not even really worth thinking about; there will always be at least 1 idiot wash trading with himself, and likely several idiots trading bitcoins between each other, giving bitcoin some price. You don't speak for everyone. Tons of people are just waiting for the bubble to pop and the market crash finally and completely. Every time there is a huge drop in price you can find these people talking about how glad they are bitcoins are almost over as a concept. I lurk a trillion different places online gathering information on things that interest me because I have nothing better to do. People are tired of "Bitcoin" and are eager for it to be over with. The technicality that there will always be a nonzero amount of money in the market as long as money exists doesn't really matter and isn't what I'm talking about. I'm talking about the existence of what constitutes a real market. Peak Crypto or however you want to call it. The point at which demand has peaked then collapses and destroys most of the wealth in the market while never recovering more than a small fraction of it's former glory. Plenty of disaster vultures are convinced the entire house of cards will collapse any day now. Plenty of goons have said as much in these threads going back almost ten years. The people expecting a permanent collapse are wrong in my opinion because I would expect that after Bitcoins crumble for whatever reason and devastate the market eventually something else will replace it. The phenomenon behind people attaching monetary value to Bitcoins won't disappear with Bitcoins. That phenomenon is loving dumb as poo poo but that is a statement of fact and nothing more. However stupid all of this is the potential for real profits and the methods for transferring wealth will still be there. People are not going to get smarter and stop dreaming of lambos. quote:But what keeps the price of bitcoin aloft? New investors have to put in more money than is lost daily to bitcoin mining expenses. Old investors are selling to the new investors. What happens when there are no more new investors? Doesn't the whole thing just collapse like a ponzi scheme at that point, since bitcoin has no actual uses beyond a speculative investment? This is all completely focused on bitcoin itself while making assumptions that when bitcoin's specific clusterfuck becomes untenable the entire market is over. Like i said earlier something else will replace it. People supporting it are confused to why it is worth so much money just like the people who are critical of it. Whenever it does collapse under it's own weight there will still be new investors because there is a way to make money. People play the loving poo poo out of the lottery. We are superstitious, retarded animals. Our greed and idiocy isn't going to evaporate. Nobody is going to learn a lesson if Bitcoins hit $0 tonight. VictorianQueerLit fucked around with this message at 10:38 on Jan 28, 2018 |
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Jan 28, 2018 10:35
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if therer's one thing i hate, it's a nocoiner. another thing i hate, FUDsters. but a FUDster nocoiner? 
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Jan 28, 2018 10:50
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tethers have been trading at ~0.98 for a while now, that's a huge arbitrage opportunity and tether inc should be just hoovering them up ~400 price difference between finex and gdax, tethers get you less btc/unit than usd as people try to get rid of them are these the end times or just another sunday? find out in the next episode of funny money casino
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Jan 28, 2018 11:13
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VictorianQueerLit posted:My baseless speculation is that Bitcoins themselves will crash and take the entire market with it wiping out all of these retards that are playing wolf of wallstreet with 200 useless cryptocurrencies but the overwhelming amount of stupidity involved means Bitcoin will just be replaced by another cryptocurrency as the standard after a period of time and 1-2 years from now we will all be making fun of (insert coin) while remembering the stupidity of Bitcoins. If btc collapses and is replaced by eth (or anything else, but eth is likeliest) the wolves of crypto street will always be with us and some of them will own private islands It’s relatively unlikely that they’ll be the same wolves as today, mind you, but what you’re outlining there is a scenario where the bubble dies and yet the asset class is real, basically the wet dream of that entire subreddit
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Jan 28, 2018 12:04
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junan_paalla posted:tethers have been trading at ~0.98 for a while now, that's a huge arbitrage opportunity and tether inc should be just hoovering them up It was 1.03 two weeks ago. +-5% fluctuations are very common. They are hard to take advantage of until the difference gets past that 5% mark. The arb gets interesting when the USD to USDT Kraken pair gets well out of line.
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Jan 28, 2018 12:06
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$1.7M to retire on? lol my fantasies only include vapid consumerism and i am a shell of a person. i could never retire on that
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Jan 28, 2018 12:27
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tether hit 0.93 on Kraken earlier currently at 0.97 kraken depth chart 4 hours ago (has been slightly propped up since then): https://twitter.com/im_uname/status/957511765964742656 increasing spread between tether and actualmoney exchanges 15k in a few days for sure!! ... though in USDT, not USD it'll all be fine. MOOOOOOOOOOOOOOOOOOOOOOOOOOOOON
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Jan 28, 2018 12:34
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Given my current expenses, including monthly international travel and living in a hosed housing market, I could make it over 40 years before I need to be concerned about interest off that 1.7 mill. Y’all spend too much.
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Jan 28, 2018 12:35
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https://twitter.com/coindesk/status/957400074329448448
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Jan 28, 2018 13:04
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This is good: https://twitter.com/ButtCoin/status/957419586709872640
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Jan 28, 2018 13:09
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holy loving lol
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Jan 28, 2018 13:13
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Yikes lol, reeks of 
Moxxis Endowment fucked around with this message at 13:17 on Jan 28, 2018 |
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Jan 28, 2018 13:14
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yeah real gold digger behavior there, kicked him out of her house
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Jan 28, 2018 13:41
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lol he got reassigned at work from any team that had a female on it. want to read his creepy pre-nup and the inevitable declaration that because he will have more bitmoney and thus has more intelligence she will be required to fulfill the following sexual services (as is her proper place in the world)
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Jan 28, 2018 14:07
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Alpha Mayo, listen, a watched pot never boils.
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Jan 28, 2018 14:14
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https://twitter.com/thelateempire/status/957527371221028865
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Jan 28, 2018 15:11
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world's most expensive penis 
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Jan 28, 2018 15:16
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Let me guess, Prodeum actually went UP after that
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Jan 28, 2018 15:20
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prodeum will be the currency of the future
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Jan 28, 2018 15:24
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QuarkJets posted:I'd like to work through this logic for a moment. I've had a few tumblers at this point so bear with me So without that aggressive regulation crypto is probably here eternally rising and falling on people making money off the rising and falling. Just one more tool for people with more money to take the money off people with less money.
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Jan 28, 2018 15:53
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Can someone explain Wtf tether is?
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Jan 28, 2018 16:04
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Hot Dog Day #91 posted:Can someone explain Wtf tether is? There's great detailed explanations earlier in the thread, but here's the condensed version as I recently tried to explain to my wife: This is the "official" explanation: - Some cryptocurrancy exchanges won't deal in USD because they don't want to deal with US finance regulations that prevent things like money laundering (or they are too shady to be able to comply because that's half the reason crypto became popular in the first place). - Bitcoin transactions times and fees are increasing and price is still volitile as hell too (lol currency of the future), so there is need for a stable currency to smooth out trade when USD can't be used - Tether is the solution! A "stablecoin" tied to the price of the USD and backed by one USD for every one Tether, thus allowing better flow of currency without all that dirty globalist banking backed fiat regulation getting in the way. That probably sounds shady to you, but let me assure you that it is WAY more shady than you think. - Tether keeps ending relationships with accountants and auditing firms, but they totally have one USD per Tether we pinky swear guys - They also refuse to acknowledge the fact they have close ties to a major cryptoexchange Bitfinex, which extensively uses Tether - They appear to be "printing" more Tether at ever increasing rates, likely to allow Bitfinex to spend it to pump Bitcoin to avoid a BTC crash (fictional reserve banking) - It looks like people are catching on, as other exchanges are currently trying to dump their Tether holdings So Tether / Bitfinex may crumple like a house of cards any minute. Or maybe they pull it off and prop up the price long enough for a herd of greater fools to show up. Crypto is the crystal meth version of a financial speculation market, expect irrationality. mkultra419 fucked around with this message at 16:36 on Jan 28, 2018 |
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Jan 28, 2018 16:32
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