Bitcoin: no angel investors, only Faustian bargains

The Something Awful Forums > Main > General Bullshit > Bitcoin: no angel investors, only Faustian bargains

Rad Russian: Aug 15, 2007; Soviet Power Supreme!

Refried Noodle posted:

A friend told me crypto solves problems with high transfer prices for international money transfers. Which, I mean, I guess a random crypto might be cheaper because there�s no oversight or regulations to deal with?

That doesn�t make it good though. I like government oversight over international money transfers. Money laundering is bad.

No regulation also means they can tell you to gently caress off after you try to withdraw the money you transferred for this cheap fee. 80% of posts on reddit sub for any exchange is them not releasing money or getting the money you withdrew lost. Also waiting months for a ticket response.

"Bitfinex lost $30,000 of my money and I've been trying to reach them for 3 months now with no luck". Hurray to no dirty gov't interference!

Rad Russian fucked around with this message at 21:32 on Feb 5, 2018

# ? Feb 5, 2018 21:28

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# ? May 31, 2024 00:58

Waffle House: Oct 27, 2004; You follow the path
fitting into an infinite pattern.

Yours to manipulate, to destroy and rebuild.

Now, in the quantum moment
before the closure
when all become one.

One moment left.
One point of space and time.

I know who you are.

You are Destiny.

I smashed Print Screen at the nicest time. :c00l:

# ? Feb 5, 2018 21:30

So Long Dental Plan: Jul 10, 2010

I don't ever bother checking daily prices of anything, but is there anything close to as volatile as BTC? In the past 5 minutes the low was 6,620 and the high was 7,250 on gdax. Almost 10% price swings every 5 minutes just seems crazy.

Edit: actually, 15 minutes not 5 minutes.

# ? Feb 5, 2018 21:31

feelix: Nov 27, 2016; THE ONLY EXERCISE I AM UNFAMILIAR WITH IS EXERCISING MY ABILITY TO MAKE A POST PEOPLE WANT TO READ

It's going back up, suck it losers

# ? Feb 5, 2018 21:31

stab: Feb 12, 2003; To you from failing hands we throw the torch, be yours to hold it high

and here comes the massive pump and dump, 7300$

# ? Feb 5, 2018 21:32

spasticColon: Sep 22, 2004; In loving memory of Donald Pleasance

Dead cat bounce.

# ? Feb 5, 2018 21:33

deadwing: Mar 5, 2007

pump pump PUMP IT UP

# ? Feb 5, 2018 21:34

Decius: Oct 14, 2005; Ramrod XTreme

So Long Dental Plan posted:

I don't ever bother checking daily prices of anything, but is there anything close to as volatile as BTC? In the past 5 minutes the low was 6,620 and the high was 7,250 on gdax. Almost 10% price swings every 5 minutes just seems crazy.

Edit: actually, 15 minutes not 5 minutes.

It's something completely based on make-believe, propped up by true believers and fraudsters at the same time, which makes it easy to be worthless and extremely valuable at the same time.

# ? Feb 5, 2018 21:34

Waffle House: Oct 27, 2004; You follow the path
fitting into an infinite pattern.

Yours to manipulate, to destroy and rebuild.

Now, in the quantum moment
before the closure
when all become one.

One moment left.
One point of space and time.

I know who you are.

You are Destiny.

Wow, I just saw it lose $100 and then get pumped back $100 in the span of five seconds lol

# ? Feb 5, 2018 21:35

Burt Sexual: Jan 26, 2006; by Jeffrey of YOSPOS; Switchblade Switcharoo

spasticColon posted:

Dead cat bounce.

i'm starting to hate that phrase. how many times does a dead cat actually bounce. 20?

# ? Feb 5, 2018 21:35

CommieGIR: Aug 22, 2006; The blue glow is a feature, not a bug; Pillbug

Burt Sexual posted:

i'm starting to hate that phrase. how many times does a dead cat actually bounce. 20?

You'd be surprised what rubber cats can do

# ? Feb 5, 2018 21:38

Minimalist Program: Aug 14, 2010

Burt Sexual posted:

i'm starting to hate that phrase. how many times does a dead cat actually bounce. 20?

It depends on what is inside the cat, Burt Sexual.

# ? Feb 5, 2018 21:38

Ham Sandwiches: Jul 7, 2000

I feel the only thing missing from this is 'dead cat bounce' and the fact that Jamie has already changed his mind, anyway please enjoy

# ? Feb 5, 2018 21:38

Waffle House: Oct 27, 2004; You follow the path
fitting into an infinite pattern.

Yours to manipulate, to destroy and rebuild.

Now, in the quantum moment
before the closure
when all become one.

One moment left.
One point of space and time.

I know who you are.

You are Destiny.

I think some people's optimism has turned around, it's back up about $300 in a few minutes.

# ? Feb 5, 2018 21:38

Waltzing Along: Jun 14, 2008; There's only one
Human race
Many faces
Everybody belongs here

Up 800 in 30 mins. Uh yeah.

# ? Feb 5, 2018 21:39

Uranium 235: Oct 12, 2004

So Long Dental Plan posted:

I don't ever bother checking daily prices of anything, but is there anything close to as volatile as BTC? In the past 5 minutes the low was 6,620 and the high was 7,250 on gdax. Almost 10% price swings every 5 minutes just seems crazy.

Edit: actually, 15 minutes not 5 minutes.

i can't say for sure because i have only ever traded crypto, but i doubt if there's anything else this volatile that also has this kind of volume and liquidity

if there is then someone please tell me

# ? Feb 5, 2018 21:39

stab: Feb 12, 2003; To you from failing hands we throw the torch, be yours to hold it high

Waltzing Along posted:

Up 800 in 30 mins. Uh yeah.

clearing 80000$ before fees on that bounce alone on 100btc. gee I wonder if its hard to manipulate up shorting and longing that way :thunk:

# ? Feb 5, 2018 21:42

Burt Sexual: Jan 26, 2006; by Jeffrey of YOSPOS; Switchblade Switcharoo

Minimalist Program posted:

It depends on what is inside the cat, Burt Sexual.

brb

# ? Feb 5, 2018 21:44

MechanicalTomPetty: Oct 30, 2011; Runnin' down a dream
That never would come to me

Wow, someone really does not want it to fall below 7k. 500 dollar jump in like 3 minutes and now every time it looks like it's going to drop again they pump the gently caress out of it.

# ? Feb 5, 2018 21:45

Mr Teatime: Apr 7, 2009

Did you know that the dow is eating poo poo today? Ha ha ha no coiners with their stocks, economy is crashing boys. Don't you dare imply bitcoin is crashing. - Literally every crypto discussion hive

# ? Feb 5, 2018 21:45

Harveygod: Jan 4, 2014; YEEAAH HEH HEH HEEEHH

YOU KNOW WHAT I'M SAYIN

THIS TRASH WAR AIN'T GONNA SOLVE ITSELF YA KNOW

So Long Dental Plan posted:

I don't ever bother checking daily prices of anything, but is there anything close to as volatile as BTC? In the past 5 minutes the low was 6,620 and the high was 7,250 on gdax. Almost 10% price swings every 5 minutes just seems crazy.

Edit: actually, 15 minutes not 5 minutes.

Clearly, this is the currency of the furniture.

# ? Feb 5, 2018 21:46

Sickening: Jul 16, 2007; Black summer was the best summer.

Could bitcoin investors be liquidating their other investments to cover their losses in bitcoins?

# ? Feb 5, 2018 21:46

Pivotal Lever: Sep 9, 2003

spasticColon posted:

Dow down 1500 points.

This is why I put 15% of my portfolio into 3x shorting the s&p and nasdaq 100 today

# ? Feb 5, 2018 21:48

EAT FASTER!!!!!!: Sep 21, 2002; Legendary.

Sickening posted:

Could bitcoin investors be liquidating their other investments to cover their losses in bitcoins?

lol, no.

There's no serious investor who would need to liquidate enough stock to cause this correction to cover losses in Santoshi's Owne Funbuxx.

# ? Feb 5, 2018 21:48

Inept: Jul 8, 2003

Pivotal Lever posted:

This is why I put 15% of my portfolio into 3x shorting the s&p and nasdaq 100 today

dang, smart!

# ? Feb 5, 2018 21:53

Khorne: May 1, 2002

Pivotal Lever posted:

This is why I put 15% of my portfolio into 3x shorting the s&p and nasdaq 100 today

I put 100% of my portfolio into shorting the VIX a few months ago. I saw it on Forbes. Seemed legit, unlike this cryptu garbage.

# ? Feb 5, 2018 21:58

Nephzinho: Jan 25, 2008

Khorne posted:

I put 100% of my portfolio into shorting the VIX a few months ago. I saw it on Forbes. Seemed legit, unlike this cryptu garbage.

I was doing some rebalancing last week and am really, really regretting not moving more into VIX. Oh well.

# ? Feb 5, 2018 22:00

Waffle House: Oct 27, 2004; You follow the path
fitting into an infinite pattern.

Yours to manipulate, to destroy and rebuild.

Now, in the quantum moment
before the closure
when all become one.

One moment left.
One point of space and time.

I know who you are.

You are Destiny.

Back at 7k. I think some of the UP UP UP pushers are driving home from work or something, it dropped $200 in a short period of time.

e: Aaaand magically +$100 again as I post this.

# ? Feb 5, 2018 22:04

joats: Aug 18, 2007; stupid bewbie

Sickening posted:

Could bitcoin investors be liquidating their other investments to cover their losses in bitcoins?

Yes, I am sure bitcoin investments with borrowed bank money is going to have a dramatic effect on the market when buttcoin goes face down.

Then again I have only been trading for 6 months.

# ? Feb 5, 2018 22:05

Pivotal Lever: Sep 9, 2003

Khorne posted:

I put 100% of my portfolio into shorting the VIX a few months ago. I saw it on Forbes. Seemed legit, unlike this cryptu garbage.

XIV (the VIX inverse short etf) had a huge runup over the past year, but it's down 33% over the past month with the volatility increases

# ? Feb 5, 2018 22:06

Burt Sexual: Jan 26, 2006; by Jeffrey of YOSPOS; Switchblade Switcharoo

Nephzinho posted:

I was doing some rebalancing last week and am really, really regretting not moving more into VIX. Oh well.

Lol,rebalancing in bitcoin land must have to happen every day, or more frequent!

# ? Feb 5, 2018 22:06

Delthalaz: Mar 5, 2003; Slippery Tilde

With stock markets dropping like a stone I imagine bitcoin speculators are feeling less eager to piss their money away.

# ? Feb 5, 2018 22:10

Double Bill: Jan 29, 2006

Back under 7k, the pump lasted for a whole... 30 minutes?

# ? Feb 5, 2018 22:11

Nessus: Dec 22, 2003; After a Speaker vote, you may be entitled to a valuable coupon or voucher!

Just saw 6969 for a moment on the tab header.

Nice.

# ? Feb 5, 2018 22:14

spankmeister: Jun 15, 2008

is bitcoin at 6000 yet?

# ? Feb 5, 2018 22:15

Uranium 235: Oct 12, 2004

spankmeister posted:

is bitcoin at 6000 yet?

no but it could get down there in the next few days

# ? Feb 5, 2018 22:16

Nephzinho: Jan 25, 2008

Burt Sexual posted:

Lol,rebalancing in bitcoin land must have to happen every day, or more frequent!

You are always rebalancing the bitcoin if you never touch the bitcoin.

# ? Feb 5, 2018 22:16

Waffle House: Oct 27, 2004; You follow the path
fitting into an infinite pattern.

Yours to manipulate, to destroy and rebuild.

Now, in the quantum moment
before the closure
when all become one.

One moment left.
One point of space and time.

I know who you are.

You are Destiny.

Oh. There's a wall at $7000 now; it hit that, as you can see below, but then bumped immediately back up.

# ? Feb 5, 2018 22:17

Khorne: May 1, 2002

Pivotal Lever posted:

XIV (the VIX inverse short etf) had a huge runup over the past year, but it's down 33% over the past month with the volatility increases

Yeah, I was making a joke because my losses would come close to buying in at $20k bitcoiner losses if I had done that.

# ? Feb 5, 2018 22:17

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# ? May 31, 2024 00:58

Uranium 235: Oct 12, 2004

Double Bill posted:

Back under 7k, the pump lasted for a whole... 30 minutes?

that was people taking profit

# ? Feb 5, 2018 22:18

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