Bernie Madoff
Banned
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Official CryptoCurrency Thread (Bitcoin, Litecoin, Ethereum & More)
- Thread starter irishfury
- Start date
Do you how to trade ? Do you have any experience regarding the matter ? If not, don't buy it.
Bernie Madoff
Banned
Are you stupid enough to believe I spent a chunk of my "investment" portion to do that?
Here's how that works : wire money to the exchange, buy 10,000$ worth of BTC, send BTC to rebit.ph, recipient gets money in his bank account same day.
Nice heh.
Why not just wire it to your recipient and save time?
heisenburrr
Have Fun Staying Poor
Do you have any idea how much money in fees it cost to wire transfer 10 000$ overseas? Not to mention the inevitable 5-7 business days delay
Do you have any idea how much money in fees it cost to wire transfer 10 000$ overseas? Not to mention the inevitable 5-7 business days delay
$50
heisenburrr
Have Fun Staying Poor
88m3
Fast Money & Foreign Objects
Bitcoin Plummets 32 Percent in Two Days
By Olga Kharif Jan 14, 2015 3:11 PM ET
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The price of bitcoin has plummeted 32 percent in two days, as the virtual currency’s volatility threatens to undermine its ability to gain mainstream use.
Bitcoin’s price declined 15 percent yesterday and 20 percent today to $181.45, its lowest level since October 2013, according to CoinDesk’s Bitcoin Price Index, an average of bitcoin prices across leading global exchanges. Bitcoin’s 58 percent plunge last year already made it one of the biggest money-losing investments of 2014, worse than oil or the ruble.
“The price will continue to be volatile and driven by speculators in the short term,” said Gil Luria, an analyst at Wedbush Securities Inc. “Nothing about the technology and its promise have changed, but in the short term that does not drive the price.”
Bitcoin naysayers have been worried that governments around the world will regulate or prohibit the currency to crack down on criminals, and Russia is now moving closer to doing just that. A prolonged price drop could also, at least temporarily, put the future of the currency in question because the equipment and power needed to mine new bitcoins are so expensive. Mining new bitcoins is key to the underlying technology.
On the flip side, many proponents of bitcoin appreciate its relative anonymity and transaction verification via a public ledger. And despite the recent drop, some of the biggest backers of bitcoin say they aren’t fleeing.
‘Not Concerned’
“I’m not going to comment on the recent price movement, other than saying I’m not concerned,”Barry Silbert, chief executive officer of SecondMarket Holdings Inc., said in an e-mailed response to questions. Silbert’s company was part of a bidding group that won 48,000 bitcoins at a U.S. government auction in December.
A bitcoin could be worth $100 or $1 million, and its value will fluctuate as new uses for the currency’s underlying technology emerge, Luria said. Venture capitalists, including Tim Draper, have poured hundreds of millions of dollars into startups that are building new software on top of bitcoin technology. And companies from Microsoft Corp. to a Lamborghini dealership have said they accept bitcoin as payment.
With the value of bitcoin once topping $1,100 in 2013, the last year -- and this week, in particular -- has been a dramatic reversal of fortunes. But for those who don’t see bitcoin going away, the recent decline has be a chance to snatch up more bitcoins in hopes prices will bounce back.
http://www.bloomberg.com/news/2015-01-14/bitcoin-s-2-day-plunge-threatens-mainstream-adoption.html
By Olga Kharif Jan 14, 2015 3:11 PM ET
16 Comments Email Print
Save
The price of bitcoin has plummeted 32 percent in two days, as the virtual currency’s volatility threatens to undermine its ability to gain mainstream use.
Bitcoin’s price declined 15 percent yesterday and 20 percent today to $181.45, its lowest level since October 2013, according to CoinDesk’s Bitcoin Price Index, an average of bitcoin prices across leading global exchanges. Bitcoin’s 58 percent plunge last year already made it one of the biggest money-losing investments of 2014, worse than oil or the ruble.
“The price will continue to be volatile and driven by speculators in the short term,” said Gil Luria, an analyst at Wedbush Securities Inc. “Nothing about the technology and its promise have changed, but in the short term that does not drive the price.”
Bitcoin naysayers have been worried that governments around the world will regulate or prohibit the currency to crack down on criminals, and Russia is now moving closer to doing just that. A prolonged price drop could also, at least temporarily, put the future of the currency in question because the equipment and power needed to mine new bitcoins are so expensive. Mining new bitcoins is key to the underlying technology.
On the flip side, many proponents of bitcoin appreciate its relative anonymity and transaction verification via a public ledger. And despite the recent drop, some of the biggest backers of bitcoin say they aren’t fleeing.
‘Not Concerned’
“I’m not going to comment on the recent price movement, other than saying I’m not concerned,”Barry Silbert, chief executive officer of SecondMarket Holdings Inc., said in an e-mailed response to questions. Silbert’s company was part of a bidding group that won 48,000 bitcoins at a U.S. government auction in December.
A bitcoin could be worth $100 or $1 million, and its value will fluctuate as new uses for the currency’s underlying technology emerge, Luria said. Venture capitalists, including Tim Draper, have poured hundreds of millions of dollars into startups that are building new software on top of bitcoin technology. And companies from Microsoft Corp. to a Lamborghini dealership have said they accept bitcoin as payment.
With the value of bitcoin once topping $1,100 in 2013, the last year -- and this week, in particular -- has been a dramatic reversal of fortunes. But for those who don’t see bitcoin going away, the recent decline has be a chance to snatch up more bitcoins in hopes prices will bounce back.
http://www.bloomberg.com/news/2015-01-14/bitcoin-s-2-day-plunge-threatens-mainstream-adoption.html
Do you have any idea how much money in fees it cost to wire transfer 10 000$ overseas? Not to mention the inevitable 5-7 business days delay
Or less...maybe zero
And 5-7 days is sensationalism, it could be one, it could be 2, it won't be 3
And regarding "echange rate fees", uhh...btc doesn't avoid that
If you are buying $10000 of btc, sending that $10000 of btc to someone else's acct, who recieves it instantly, for a real estate transaction and clearly at some point will need to turn $10000 worth of btc into local currency....he then needs to 'currency echange' that INTO local funds (we'll say €), he is then exposed to the value of btc in that moment
So
Instead of $ => €
Youve exposed them to $ => B => €
Btc has gone down 32% in 2 days, and in this example you exposed your alleged REAL ESTATE TRANSACTION to TWO CONVERSIONS rather than one.
88m3
Fast Money & Foreign Objects
Or less...maybe zero
And 5-7 days is sensationalism, it could be one, it could be 2, it won't be 3
And regarding "echange rate fees", uhh...btc doesn't avoid that
If you are buying $10000 of btc, sending that $10000 of btc to someone else's acct, who recieves it instantly, for a real estate transaction and clearly at some point will need to turn $10000 worth of btc into local currency....he then needs to 'currency echange' that INTO local funds (we'll say €), he is then exposed to the value of btc in that moment
So
Instead of $ => €
Youve exposed them to $ => B => €
Btc has gone down 32% in 2 days, and in this example you exposed your alleged REAL ESTATE TRANSACTION to TWO CONVERSIONS rather than one.
thanks for taking the time. the guy is a quack who knows nothing about anything
heisenburrr
Have Fun Staying Poor
Or less...maybe zero
And 5-7 days is sensationalism, it could be one, it could be 2, it won't be 3
And regarding "echange rate fees", uhh...btc doesn't avoid that
If you are buying $10000 of btc, sending that $10000 of btc to someone else's acct, who recieves it instantly, for a real estate transaction and clearly at some point will need to turn $10000 worth of btc into local currency....he then needs to 'currency echange' that INTO local funds (we'll say €), he is then exposed to the value of btc in that moment
So
Instead of $ => €
Youve exposed them to $ => B => €
Btc has gone down 32% in 2 days, and in this example you exposed your alleged REAL ESTATE TRANSACTION to TWO CONVERSIONS rather than one.
I've been there and done that. If you claiming that an overseas wire transfer can be had for free it's not worth arguing with you.. My last attempt at doing so resulted in considerably more than 50$ in fees and a very real 3-5 business days delay.
Also, if you would've read my previous post you'd realize that using service like rebit.ph I can avoid price fluctuations and shield the recipient from any need for currency conversion.
Once the coins are bought I can immediatly transfer them to rebit.ph and "lock" the BTC/PHP exchange rate. My recipient does not have to bother with converting back to PHP, rebit just drops PHP right into their bank account.
TLDR; I send x amount and recipient gets x and not a penny less
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So,
I've been there and done that. If you claiming that an overseas wire transfer can be had for free it's not worth arguing with you.. My last attempt at doing so resulted in considerably more than 50$ in fees and a very real 3-5 business days delay.
Also, if you would've read my previous post you'd realize that using service like rebit.ph I can avoid price fluctuations and shield the recipient from any need for currency conversion.
Once the coins are bought I can immediatly transfer them to rebit.ph and "lock" the BTC/PHP exchange rate. My recipient does not have to bother with converting back to PHP, rebit just drops PHP right into their bank account.
TLDR; I send x amount and recipient gets x and not a penny less
If you have MONEY, you can have an account at a bank or credit union with no wire fees.
But you dont have money so you wouldn't know.
This part
is fair and makes sense. YOU are exposed to the final exchange rather than your recipient (you outlined going from $ => B => PHP). Your choice
. It and can also be done at a bank if you have money (typically business banking) to have a forex platform.But we're years past that conversation arent we? I mean, you bought a considerable amount at a price about $300% higher that current value...you're mentally vested like an ohio homeowner in 2009.
ill
Superstar
Its a shame that Bitcoin doesn't have a central bank to come in and stabilize the price 
I want to dedicate this song to @heisenburrr and his pursuit to go broke
I want to dedicate this song to @heisenburrr and his pursuit to go broke
ill
Superstar
Bitcoin revealed: a Ponzi scheme for redistributing wealth from one libertarian to another
http://www.washingtonpost.com/blogs...hpModule_79c38dfc-8691-11e2-9d71-f0feafdd1394
http://www.washingtonpost.com/blogs...hpModule_79c38dfc-8691-11e2-9d71-f0feafdd1394