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Bitcoin Closing In on $16,000

 
Anonymous Coward
User ID: 14908370
United States
12/07/2017 08:29 PM
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Re: Bitcoin Closing In on $16,000
Yes you can sell it. The smaller exchanges like coinbase suck for selling though because they have a $15,000 weekly sell limit. And the bigger exchanges have minimum buy and sell orders of 25 bitcoins. One good exchange with no limit on cash outs is what bitcoin needs
 Quoting: Anonymous Coward 75834746


Lol oh whatever, like the fact that the sell limit is $15,000 has an bearing when their website is a compulsive fuck up that crashes during every dump.

I lost thousands today because of their servers problems.

Obviously they just crash their servers intentionally to avoid letting people cash out with a profit.
 Quoting: Anonymous Coward 34398756


Or something. Pretty soon the largest increment that can be sold is a .50 bitcoin transaction!

It seems like sooner rather than later they will be priced out of the larger market. The only people who can/will buy bitcoin are millionaires and billionaires the higher it goes.
Just like all commodities it will continue to aggregate into the hands of fewer and fewer then...so what?
It's only useful if there is a buyer to give it value.

I don't see the long term value of cryptos if it isn't a broader store of value. Like one day it will come down to some Asian billionaire owning a third, Buffett owning a third and the Twinketoes twins owning a third.
A third of what?
 Quoting: Anonymous Coward 72325042


The fact that they even have a $15k sell limit should tell you that it's a big ponzi. They can only cash you out for as much as they can steal into their exchange from the next person. Too many redemptions at once would expose that they don't have the dollars anymore. Those dollars have been siphoned out and replaced with dollar-mimicking Tethers.
Anonymous Coward
User ID: 75563400
United States
12/07/2017 08:33 PM
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Re: Bitcoin Closing In on $16,000
You ain't paying for shit with Bitcoins ,stupid fuckers ever heard of a pyramid scheme?
 Quoting: Anonymous Coward 73055043


Haha, yes, I have heard of them and understand them. You clearly don't know what a true pyramid scheme is. This isn't one.

It may be a bubble and worthless, but it ain't a pyramid scheme.

So ironic that you are calling others stupid fuckers, considering your post. lol.
 Quoting: Anonymous Coward 75563400


A classic pyramid is where the sooner you got in, the more money you stand to make, whereas newer buyers will have to see greater and greater price appreciation in order to make "some" of what early adopters do/did.

The converse is that the higher the price goes, the fewer people willing to or able to buy into the market.
I don't know what the price point will be, but it seems unlikely that there are people willing to pay $40,000 for a virtual coin. Therefore, the greatest price appreciation that one buying in today can do is double their investment.
A very good return, to be sure, but the higher it goes the less likely that those buyers will see a doubling.
More like an inverse curve of 40%, 30%, 20%, 10%, if the price continues to track higher.
It seems very unlikely to me, that there will be people buying in at $80,000. So somewhere the price is bound to falter.
 Quoting: Anonymous Coward 72325042


Lol, with that logic, you are probably the type of person that gets excited when a stock splits because it is now "cheaper". I'm sure you won't understand what I'm talking about. Keep studying.
Anonymous Coward
User ID: 75563400
United States
12/07/2017 08:46 PM
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Re: Bitcoin Closing In on $16,000
Just for a test i decided to sell $100 worth of BTC today using Coinbase and got hit 3% in cost and the exchange prices was none too good.

Well not being a trusting guy (Bad press for Coinbase) i decide that i wanted to hold my own money in my bank account instead of letting them hold it and was soon in for a shock.

Just because they take money from your bank account it does not mean you can move cash back to the account and you have to set up a SEPA transaction using a bank account that allows that type of transaction and send Coinbase $1.00

Then things not only get slow but complicate but your $$$ get converted to Euro's, sent via SEPA to your bank that then needs to covert them back to USD and your money gets eaten away in commissions.

oh yes i am still waiting for my money
 Quoting: Bit Pro 75935403


So, I had been meaning to do the same test myself for a few weeks now. Your post prompted me to try the same about 5 minutes ago. Here is my datapoint:

I sold $100 worth of BTC. Fee was $2.99. Net $97.01. Within 1-2 seconds it says "sold", and the amount. Says it will be in my bank account next Thursday (which is about the same amount of time it took on the buy end of the process for my BTC buys to officially show up in my Coinbase account, so that seems reasonable).

I'm based in the U.S., and dealing with USD.

No issues to report. Seamless.
Anonymous Coward
User ID: 75563400
United States
12/07/2017 08:47 PM
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Re: Bitcoin Closing In on $16,000
Yes you can sell it. The smaller exchanges like coinbase suck for selling though because they have a $15,000 weekly sell limit. And the bigger exchanges have minimum buy and sell orders of 25 bitcoins. One good exchange with no limit on cash outs is what bitcoin needs
 Quoting: Anonymous Coward 75834746


Lol oh whatever, like the fact that the sell limit is $15,000 has an bearing when their website is a compulsive fuck up that crashes during every dump.

I lost thousands today because of their servers problems.

Obviously they just crash their servers intentionally to avoid letting people cash out with a profit.
 Quoting: Anonymous Coward 34398756


Or something. Pretty soon the largest increment that can be sold is a .50 bitcoin transaction!

It seems like sooner rather than later they will be priced out of the larger market. The only people who can/will buy bitcoin are millionaires and billionaires the higher it goes.
Just like all commodities it will continue to aggregate into the hands of fewer and fewer then...so what?
It's only useful if there is a buyer to give it value.

I don't see the long term value of cryptos if it isn't a broader store of value. Like one day it will come down to some Asian billionaire owning a third, Buffett owning a third and the Twinketoes twins owning a third.
A third of what?
 Quoting: Anonymous Coward 72325042


The fact that they even have a $15k sell limit should tell you that it's a big ponzi. They can only cash you out for as much as they can steal into their exchange from the next person. Too many redemptions at once would expose that they don't have the dollars anymore. Those dollars have been siphoned out and replaced with dollar-mimicking Tethers.
 Quoting: Anonymous Coward 14908370


Lol, educate yourself before you make a fool of yourself more. They have the same somewhat small limits on the buy side.
Anonymous Coward
User ID: 14908370
United States
12/07/2017 09:06 PM
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Re: Bitcoin Closing In on $16,000
...


Lol oh whatever, like the fact that the sell limit is $15,000 has an bearing when their website is a compulsive fuck up that crashes during every dump.

I lost thousands today because of their servers problems.

Obviously they just crash their servers intentionally to avoid letting people cash out with a profit.
 Quoting: Anonymous Coward 34398756


Or something. Pretty soon the largest increment that can be sold is a .50 bitcoin transaction!

It seems like sooner rather than later they will be priced out of the larger market. The only people who can/will buy bitcoin are millionaires and billionaires the higher it goes.
Just like all commodities it will continue to aggregate into the hands of fewer and fewer then...so what?
It's only useful if there is a buyer to give it value.

I don't see the long term value of cryptos if it isn't a broader store of value. Like one day it will come down to some Asian billionaire owning a third, Buffett owning a third and the Twinketoes twins owning a third.
A third of what?
 Quoting: Anonymous Coward 72325042


The fact that they even have a $15k sell limit should tell you that it's a big ponzi. They can only cash you out for as much as they can steal into their exchange from the next person. Too many redemptions at once would expose that they don't have the dollars anymore. Those dollars have been siphoned out and replaced with dollar-mimicking Tethers.
 Quoting: Anonymous Coward 14908370


Lol, educate yourself before you make a fool of yourself more. They have the same somewhat small limits on the buy side.
 Quoting: Anonymous Coward 75563400


So? The buy limits are to limit fraudulent buy-ins on stolen info. The cash out is what matters to the exchange's liquidity.
A R K

User ID: 75954838
Germany
12/07/2017 09:11 PM
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Re: Bitcoin Closing In on $16,000
$18.275.40
 Quoting: A R K


Hey what was the price when we were supposed to have that beer?

lmao
 Quoting: DRGONZO



100

chuckle

This is a very fine one.

[link to www.colruyt.be (secure)]
~ Ad astra audacter eamus in alis fidelium ~

"Then the lion shall lie down with the lamb and the bear shall eat grass like the ox and the child shall play on the hole of the asp and nothing shall hurt nor destroy in all My Holy Mountain."

[Isaiah 11:6]

~ A R K
A R K

User ID: 75954838
Germany
12/07/2017 09:13 PM
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Re: Bitcoin Closing In on $16,000
$18.275.40
 Quoting: A R K


$22,579.

I wonder what accounts for the disparity.
I see issues.
 Quoting: Anonymous Coward 72325042



Where are you lookin at?
~ Ad astra audacter eamus in alis fidelium ~

"Then the lion shall lie down with the lamb and the bear shall eat grass like the ox and the child shall play on the hole of the asp and nothing shall hurt nor destroy in all My Holy Mountain."

[Isaiah 11:6]

~ A R K
A R K

User ID: 75954838
Germany
12/07/2017 09:15 PM
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Re: Bitcoin Closing In on $16,000
I ordered a Xapo and Monaco Debit Card. Both or one of them is VISA. Maybe I can pay my next glp upgrade with Bitcoin.

And CryptoPay Card.

Last Edited by A R K on 12/07/2017 09:18 PM
~ Ad astra audacter eamus in alis fidelium ~

"Then the lion shall lie down with the lamb and the bear shall eat grass like the ox and the child shall play on the hole of the asp and nothing shall hurt nor destroy in all My Holy Mountain."

[Isaiah 11:6]

~ A R K
Anonymous Coward
User ID: 75951263
United States
12/08/2017 11:25 AM
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Re: Bitcoin Closing In on $16,000
I bought CME and INTC for their futures involvement. Raymond James is totally ignorant in not backing CME, while they follow Ameritrade and INTC.

Gold rush, gold rush.

Pretty soon those inactive vaults will be open and revealed.

I'm gonna make my claim.

:party:

Fr the win, I bought litecoin. Too poor for Bitcoin now.
Anonymous Coward
User ID: 74884259
United States
12/08/2017 11:26 AM
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Re: Bitcoin Closing In on $16,000
The limits are so assholes don’t crash it





GLP