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  #301  
Old 09-04-2018, 02:36 PM
AuburnKid AuburnKid is online now
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its happening guys, patience
Can I send my excess bitcoin that our wonderful MLB cappers made for me from Bookmaker to 5dimes and other cripto 'books? I like to have at least 5 funded for some of the tiny prop bets with their $100 limits. Late in season at 0-12 the Browns were
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Will the Browns go 0-16 +400 limit $100 to win $400.
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  #302  
Old 09-12-2018, 04:18 PM
BLUE LOU BOYLE BLUE LOU BOYLE is offline
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Crypto’s 80% Plunge Is Now Worse Than the Dot-Com Crash
Michael Patterson
September 12 2018, 12:02 PM

(Bloomberg) -- The Great Crypto Crash of 2018 looks more and more like one for the record books.

As virtual currencies plumbed new depths on Wednesday, the MVIS CryptoCompare Digital Assets 10 Index extended its collapse from a January high to 80 percent. The tumble has now surpassed the Nasdaq Composite Index’s 78 percent peak-to-trough decline after the dot-com bubble burst in 2000.

Like their predecessors during the Internet-stock boom almost two decades ago, cryptocurrency investors who bet big on a seemingly revolutionary technology are suffering a painful reality check, particularly those in many secondary tokens, so-called alt-coins.

“It just shows what a massive, speculative bubble the whole crypto thing was -- as many of us at the time warned,” said Neil Wilson, chief market analyst in London for Markets.com, a foreign-exchange trading platform. “It’s a very likely a winner takes all market -- Bitcoin currently most likely.”

Wednesday’s losses were led by Ether, the second-largest virtual currency. It fell 6 percent to $171.15 at 7:50 a.m. in New York, extending this month’s retreat to 40 percent. Bitcoin was little changed, while the MVIS CryptoCompare index fell 3.8 percent. The value of all virtual currencies tracked by CoinMarketCap.com sank to $187 billion, a 10-month low.

Digital Gold

The virtual-currency mania of 2017 -- fueled by hopes that Bitcoin would become “digital gold” and that blockchain-powered tokens would reshape industries from finance to food -- has quickly given way to concerns about excessive hype, security flaws, market manipulation, tighter regulation and slower-than-anticipated adoption by Wall Street.

Crypto bulls dismiss negative comparisons to the dot-com era by pointing to the Nasdaq Composite’s recovery to fresh highs 15 years later, and to the internet’s enormous impact on society. They also note that Bitcoin has rebounded from past crashes of similar magnitude.

But even if the optimists prove right and cryptocurrencies eventually transform the world, this year’s selloff has underscored that progress is unlikely to be smooth.

One silver lining of the crypto slump is that ramifications for the global economy are likely to be minimal. While the market has lost more than $640 billion of value since peaking in January, that’s a far cry from the trillions erased from Nasdaq Composite stocks during the dot-com bust.

The crypto industry’s links with the traditional financial system also remain weak. That’s been a disappointment for bulls, but it’s good news for everyone else at a time when digital assets are tumbling.

“Until you can pay your taxes in cryptos, it’s just a pointless investment vehicle,” said Markets.com’s Wilson. “Some people will make loads of money but most won’t.”
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  #303  
Old 09-13-2018, 05:58 AM
Big Pimpin Big Pimpin is offline
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Lol. Such a scam
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  #304  
Old 09-24-2018, 04:42 PM
Roofies Roofies is online now
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Bitcoin lows to highs after bear market.
2012-2013 $5-$1100
2014-2017 $200-$20,000
2018-? $6000-?

"if you don't like me at $6k you dont deserve me at $100k"

just sayin
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  #305  
Old 09-25-2018, 10:26 AM
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good thread
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  #306  
Old 10-16-2018, 04:39 PM
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Bakkt CEO: We're About To See A Cryptocurrency Revolution - Bitcoinist.com

this company is OWNED by the NEW YORK STOCK EXCHANGE people

Fidelity Says It Will Trade Bitcoin for Hedge Funds - WSJ

Fidelity has 2 trillion under management.

if there still are any bitcoin skeptics I feel for you.
you will be on the outside looking in on the largest redistribution of wealth in our lifetimes. its not going to happen overnight but if you have the means right now, buy one full bitcoin.
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  #307  
Old 10-19-2018, 10:30 PM
Xone Xone is offline
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Originally Posted by Big Pimpin View Post
Lol. Such a scam
Now Fidelity and the NYSE are in on the "scam" LOL at the blindness of some people! You think Fidelity, Ameritrade, Intercontinental Exchange, and many other big names are risking their entire reputation and business on aiding in scam? They have to spend a lot of money to start these trading operations. Even if they figure they could make more money through trading and custodial fees than it will cost them in startup costs, if you assume it's all a scam then bitcoin price will go to zero and the business venture will fail quickly. You think Fidelity is risking the $7 trillion under management for something that even has the slightest potential of being a scam or even something that will fizzle out and die in a few years?

The only reason someone would call Bitcoin is a scam is either a) they are incredibly ignorant, or b) they are trying to accumulate as much bitcoin as they can at low prices before bitcoin really becomes big. If that's the case, probably smart of you, but still not cool. But with a username like big pimpin, I think it's safe to assume you fall into category A.
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  #308  
Old 10-21-2018, 08:51 PM
Big Pimpin Big Pimpin is offline
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Now Fidelity and the NYSE are in on the "scam" LOL at the blindness of some people! You think Fidelity, Ameritrade, Intercontinental Exchange, and many other big names are risking their entire reputation and business on aiding in scam? They have to spend a lot of money to start these trading operations. Even if they figure they could make more money through trading and custodial fees than it will cost them in startup costs, if you assume it's all a scam then bitcoin price will go to zero and the business venture will fail quickly. You think Fidelity is risking the $7 trillion under management for something that even has the slightest potential of being a scam or even something that will fizzle out and die in a few years?

The only reason someone would call Bitcoin is a scam is either a) they are incredibly ignorant, or b) they are trying to accumulate as much bitcoin as they can at low prices before bitcoin really becomes big. If that's the case, probably smart of you, but still not cool. But with a username like big pimpin, I think it's safe to assume you fall into category A.

Bitcoin will never become big. It’s a ponzi
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  #309  
Old 10-22-2018, 09:09 AM
Jahred Jahred is offline
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Originally Posted by Big Pimpin View Post
Bitcoin will never become big. It’s a ponzi
Solid writeup
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  #310  
Old 10-22-2018, 06:39 PM
Xone Xone is offline
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Originally Posted by Big Pimpin View Post
Bitcoin will never become big. It’s a ponzi
Maybe you're right. Here's a good article arguing your side

Why Bitcoin and Crypto Have No Future – Think Outside the Blox – Medium
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  #311  
Old 10-23-2018, 08:39 AM
Bozzie Bozzie is offline
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It falling from 20,000k to 6k should tell you all you need to know

Buying prime numbers..

SCAM

Last edited by Bozzie; 10-23-2018 at 08:42 AM.
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  #312  
Old 10-23-2018, 07:15 PM
Xone Xone is offline
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It falling from 20,000k to 6k should tell you all you need to know

Buying prime numbers..

SCAM
LOL. Can't tell if you're being serious or not.

You must have thought Amazon was a scam when it dropped from $108 in Dec 1999 to $8 on April 2001. Good thing you avoided that scam too.
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  #313  
Old 10-29-2018, 02:55 PM
AuburnKid AuburnKid is online now
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....
You must have thought Amazon was a scam when it dropped from $108 in Dec 1999 to $8 on April 2001. Good thing you avoided that scam too.
There is this curse on my Amazon card. It says I should have paid full price for shipping and bought $99 of stock each year.
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  #314  
Old 10-31-2018, 09:00 PM
Bisket Bisket is offline
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Bitcoin Price Dips Beneath Level from One Year Ago
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  #315  
Old 11-02-2018, 01:27 PM
Big Pimpin Big Pimpin is offline
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Great investment that was
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  #316  
Old 11-02-2018, 07:23 PM
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Morgan Stanley: Bitcoin is a New Institutional Investment Class Morgan Stanley: Bitcoin is a New Institutional Investment Class via @cryptocoinsnews

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  #317  
Old 11-04-2018, 10:03 AM
BFDwager BFDwager is offline
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All of these "stupid" people buying land in the damn desert! Berns, Musk, Gilman.
Gotta go out on a limb, to get the fruit!

A Cryptocurrency Millionaire Wants to Build a Utopia in Nevada - The New York Times
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  #318  
Old 11-21-2018, 07:44 PM
New York Knight New York Knight is offline
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The year-long cryptocurrency slump is devolving into a further downward spiral this week. The price of Bitcoin fell 13% on Tuesday and more than 25% over the week.

A single Bitcoin is currently worth about $4,500, marking the first time the value has dropped below $6,000 in months.

Other lesser-known cryptocurrencies are seeing similar drops. At $32, Litecoin is at around its lowest value for 2018. The same is true for Ethereum, now at around $130.


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  #319  
Old 11-22-2018, 09:45 AM
Roofies Roofies is online now
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tbh I dont know what to say other than I was completely wrong on my call. i would have never thought the price would touch $4k. Everything has completely broken down. But this has nothing to do with retail buyers selling. This is complete and blatant manipulation by bitcoin whales on the exchanges. they decide where the price goes unfortunately. nothing has changed, no news nothing. if they want to put the price at $1k they can as they call the shots. and until someone can actually challenge them, which I don't think will ever happen, this is the way it will go.
from what I have been reading from people who chart and have been correct about this fall, they are saying $3k is possible. bitcoin isn't going away but this bear market has been a learning experience for us all. looks like 2014-2016 all over again. bitcoin will find a bottom and it will most likely sit there for at least another year. I am pretty much disgusted atm but this is what capitulation looks like. Like I have said in the past you should invest 1% of your net worth only for these reasons. It looks like dead money for quite a while unless baakt and fidelity make a major impact. but baakt even postponed their opening a month most likely due to the price slump. I think by the end of January there should be a clearer picture of where it is going.

ps if you are down a ton and you are still holding, personally I would sell and take the capital loss on your taxes. because you can buy back next year. I wouldn't be surprised if this is the theme at the end of the year if the price slumps again.
gl
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  #320  
Old 11-22-2018, 10:06 AM
Briefcase Briefcase is online now
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I haven't participated in this at all because I don't feel I know enough about it. A crash like this usually increases my interest tho. There isn't anything more exciting than a crash after a mania.

Typically markets fall quicker than they rise because of the fear element involved with crashes.
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  #321  
Old 11-25-2018, 10:01 AM
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I recall a similar run , in the late 70's, with silver. Can't fuck with the big boys.

I had a salesman from Texas, who took delivery on 3000 ounces of silver, ended up sitting on it forever as the loss was going to be devastating to he and his family. He was all chipper while it was going up, but like any commodity, when there are NO buyers, it goes down the limit daily. He could never get out at close to what he paid and as a result, it sat in his living room, like a coffee table.


The Hunt Brothers and their Attempt to Corner the Silver Market - Traders Log

The Hunt Brothers and their Attempt to Corner the Silver Market


In the early seventies, amidst political upheaval, inflationary pressures and stagnant economic growth, the richest family in America (at the time), the Hunt family of Texas, tried to corner the market on precious metals. As a way to hedge themselves from the rampart printing of dollars the US government was doing, the Hunts decided to accumulate large amounts of hard asset investments. Since gold could not be held by private citizens back then, the Hunt brothers focused on silver.
In 1979, the Hunt brothers, along with a group of wealthy Arabs, formed a pool buying silver and silver futures. The Hunt brothers used their positions in silver futures to acquire more of the physical metal. As cash was continually losing value due to inflation, the Hunts decided to settle their long silver futures contracts with delivery of silver, instead of cash settlement. Before too long, they had amassed over 200 million ounces of silver which was about half of the world’s supply.

Prices soon started to appreciate. When they started, the price of silver was below $5 ounce. By late 1979/early 1980 prices had increased tenfold and were trading near $55/oz. During this rise in prices, the COMEX and Chicago Board of Trade (CBOT) only had about 120 million ounces of silver between them. As prices went higher and new buyers got into the market, the exchanges became increasingly fearful of defaulting. As the Hunts owned 77% of the world’s silver, either in physical form or futures contracts, the market had been cornered.

Things began to change once Paul Volker was named Chairman of the Federal Reserve. Volker was determined to get inflation under control by raising interest rates. Couple that with changes in trading rules at the CBOT and COMEX, prices soon plummeted. Things had gotten so out of whack that COMEX only accepted liquidation orders, effectively halting silver from going higher. The CBOT set limits on the amount of silver any one entity could hold and raised margins. Not surprisingly prices came down significantly quickly and were trading near $10 by the end of March 1980.
The precipitous drop in prices meant huge losses for many speculators and ultimately forced the Hunt brothers into bankruptcy. By the mid-80s, the Hunt brothers had more than a billion dollars in liabilities they could not meet. At their peak, the Hunt brothers had held over $4.5 billion in silver on their $1 billon investment. On March 25, 1980, the Hunt brothers couldn’t meet their $135 million margin call, forcing the Hunt brothers to ‘shut it down.’ In August of 1988, the Hunts were convicted of conspiring to manipulate the market.

It was in late March 1980 that we had “Silver Thursday”, a day where the price of silver went from roughly $20/oz to $10/oz, a loss of over 50%. Ultimately, the Hunts had to be bailed out by New York banks so they could make good on their obligations. Their obligations had grown so large that the government forced the banks to issue credit so that wide spread failures could be prevented.

The Hunts had exposed themselves to huge amounts of leverage, which worked great in the beginning. It was this leverage from the futures markets that ultimately did them in. The Hunts ended up losing because they couldn’t fight the Fed and the system as a whole. The exchanges changed the rules once they saw they were out maneuvered and couldn’t default, which would have led to widespread failures. Not only that, but many of the regulators who helped change the rules were also short silver.

In the end, cornering a market is not only illegal but immoral as well. In a truly free market, cornering a market wouldn’t work as alternative investments would gain favor. Also, as supply is taken off the market, buying the last bit of any commodity would become prohibitively expensive. If the Hunts had only bought physical silver, there was nothing that financial industry or the government could have done. Conversely, if they only bought physical silver, the market probably wouldn’t have gone up that much, but they never would have had any futures contracts obligations to meet. Today, the price of silver is finally close to testing the artificial highs of the early 80s. Similar to the late 70s, inflation is spreading, political situations around the globe are precarious at best and energy prices are near highs. Position limits and daily marked to the market accounting, makes it nearly impossible to corner any market today. In the end, the Hunts tried to fight financial industry insiders and the US government, only to have the rules of the game changed in the middle of the game. But don’t feel too bad for them, although they lost huge amounts of money, they still are worth several hundreds of millions of dollars, each.
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  #322  
Old 11-25-2018, 10:38 AM
southerncoach southerncoach is offline
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bitcoin is a scam...

Warren Buffett calls it "Probably Rat Poison Squared..."

The companies who manufacture the bit coins supposedly use computer algorithms to help solve world problems somehow. That should be your first clue as to what a scam it it.

the fact that it is not regulated at all, should be a big flashing warning signal.
unregulated markets are rife with immoral people who are looking to make a fortune by manipulating unregulated markets, cashing in causing them when they crash and then fleeing with their loot. They have been manipulating, crashing and cashing in on the currencies of emerging economic countries for decades (Thailand & indonesia currency crash of 1998) for example.

In reality, speculators buy tons of bitcoin and other digital currencies to bid up the price. Then, unsophisticated investors seeking to make a fortune, pile in.

at some point, the speculators pull their profits out as they just did, and the price tumbles. The nieve and unsispecting fortune seekers who jumped in later, Lost big.

It's just a big casino, the same as the stock market has become, where speculators, hedge funds and wall street types make millions and Joe Public working stiff , gets fleeced.

A word to the wise. stay out of bitcoin. and don't invest in any company who is involved with it.
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  #323  
Old 11-25-2018, 08:11 PM
New York Knight New York Knight is offline
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Even at the low today, up 6 times in last year. And if they did buy at an all time high, they only lost their ass if they sold, fact. ANd if they could not afford to lose the money, they should not of put it their.

Plenty of good alt coins were a much better buy for last 6 months than bitcoin, fact. And the 6K today was a steal to get in on bitcoin. Will hit 30K by end of year, minimum.

$3,916

Fact.
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  #324  
Old 11-25-2018, 08:31 PM
Bozzie Bozzie is offline
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LOL. Can't tell if you're being serious or not.

You must have thought Amazon was a scam when it dropped from $108 in Dec 1999 to $8 on April 2001. Good thing you avoided that scam too.
I was serious... Amazon is a company with huge profits this is just prime numbers being found/mined then given a value.. it's nuts.
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  #325  
Old 11-26-2018, 11:37 AM
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$3,916

Fact.
As low as $3600 earlier this morning now at $3800 level.
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