Bitcoin Doubters, Come Eat Your Crow

Discussion in 'The War Room' started by jmag, Dec 20, 2016.

  1. Quipling

    Quipling Red Belt

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    No, stocks provide a revenue stream (dividends) in addition to changing value over time.
     
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  2. mike sherry

    mike sherry Double Yellow Card Double Yellow Card Yellow Card Banned

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    seems low now tbh


    for sure when futures trading goes live there will be insane market manipulation

    I know trezor has a built in ethereum wallet. Yes you can always deposit more to the same account
     
    Last edited: Dec 7, 2017
  3. TSO

    TSO Cookie monster belt

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    I tried to exchange my bitcoin for goods a while back and was unable to do so. Doesn't matter how many zeros they put behind the value of them if you can't buy anything, they're worthless.
     
  4. A.C.

    A.C. AKA Volcano Fists AKA Galaxy Knuckles Platinum Member

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    “Although we strive to provide continuous access to Coinbase services in all states in the US, Coinbase must indefinitely suspend its business in Hawaii.

    The Hawaii Division of Financial Institutions (DFI) has communicated regulatory policies which we believe will render continued Coinbase operations there impractical.

    In particular, we understand that the Hawaii DFI will require licensure of entities which offer certain virtual currency services to Hawaii residents. Although Coinbase has no objection to this policy decision, we understand the Hawaii DFI has further determined that licensees who hold virtual currency on behalf of customers must maintain redundant fiat currency reserves in an amount equal to the aggregate face value of all digital currency funds held on behalf of customers. Although Coinbase securely maintains 100% of all customer funds on behalf of our customers, it is impractical, costly, and inefficient for us to establish a redundant reserve of fiat currency over and above customer digital currency secured on our platform.”

    Hmmmm
     
  5. PEB

    PEB Atomic Butt Drop Champ :)

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    I agree somewhat with your assessment but even banks are not held to hold that much to back their "virtual currency" in fact I think they are around 10 to 20 percent and they are complaining that is too large. If coinbase had to cover that much from one individual their whole business model will collapse. They have to be able to constantly payoff others while financing their operations both of these are extremely costly.
     
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  6. A.C.

    A.C. AKA Volcano Fists AKA Galaxy Knuckles Platinum Member

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    I’m not really making any assessment, this isn’t anything I’m knowledgeable about. But I tried to sign up for Coinbase and my account was immediately shut down with that message displayed.

    Honestly I was looking for assessments from some more knowledgeable people here so thanks.

    And if anyone has information about a trustworthy site or app I can use in hawaii I would appreciate it. Trustworthy is important since I always have Mt. Gox in the back of my mind I wonder how many others here might as well.
     
    Last edited: Dec 7, 2017
  7. forum poster

    forum poster Brown Belt

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    I was going to buy some more last week I was just waiting or a dip, now it's double that price. I still have around $2500 worth. More than doubled my money in a month if I was to sell now.
     
  8. HockeyBjj

    HockeyBjj Putting on the foil

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    Good luck trying to sell though. I keep hearing how difficult it even impossible it is to turn bitcoins back into dollars
     
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  9. forum poster

    forum poster Brown Belt

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    I have an localbitcoins account that I could sell. The pain in the ass part I'm guessing is if you're only selling in small amounts. I don't plan on selling for years anyhow.


    Here's my post for November 2nd.
     
  10. waiguoren

    waiguoren Black Belt

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    My $750 of bitcoin is now worth $25,000.

    Hm.
     
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  11. Terry Noonan

    Terry Noonan Brown Belt

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    Bitcoin value is derived on what again?

    Someone is going to get caught holding the bag of nothing. Sucks for them. Kudos to anyone who makes significant money on it though.
     
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  12. TSO

    TSO Cookie monster belt

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    Nothing, it's value is completely made up.
     
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  13. Oeshon

    Oeshon ช่างมันเถอะ

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    People keep saying this and it keeps going up. I said this at 800, then again at 4000, and against at 8000. Now it is over 18000.
     
  14. waiguoren

    waiguoren Black Belt

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    It's tied to an anonymous, convenient and (formerly/potentially) low cost payment system. Lots of other people use it, some retailers accept it, and significant infrastructure (such as exchanges) has built up around it. It is scarce.
     
  15. HIMBOB

    HIMBOB Steel Belt

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    Seems reasonable.

    Its like if some was to hold $100,000 of your gold it would be insane to expect to hold $100,000 of USD as well.

    Well based on my reading of their statement.
     
  16. HIMBOB

    HIMBOB Steel Belt

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    I asked the same thing about security of my holdings in this very thread when my bonus was enough to buy 2 bitcoins.

    No fucking answers

    and thus

    i have no fucking bitcoins

    and thus

    i hate you all.
     
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  17. HIMBOB

    HIMBOB Steel Belt

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    What people will pay for it.

    Is gold really worth much? It would be cheap as lead if it wasn't shiny.
     
  18. JonesBones

    JonesBones Gold Belt

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    exactly. lol. I can turn my apple and tesla stocks into dollars this instant if I wanted to.
     
  19. TrueBias

    TrueBias Yellow Card Yellow Card

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    Still dont know what the hell bitcoin is..

    Still dont know where this goofy fucking expression: "eat crow" came from..
     
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  20. JonesBones

    JonesBones Gold Belt

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    I got a similar notice for a different site in NY.
     
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