I use BTC-E, but sometimes I hate it cos it's really slow
Really slow in what way? I actually prefer them for their fast trade engine. Bitfinex and Stamp both have horribly slow, laggy trade engines. BTC-E, on the other hand, actually manages to trade in real time by having an atomic trade engine. |
|
|
|
Coinbase lets anyone sell up to $50k per day. Not that I would ever need to sell that much but good to have that option.
However, for example BTC does take off in the near future and explodes to $2k+ per BTC, and lets also say that Coinbase shuts down for whatever reason...where can I sell my BTC in bulk?
If you're going to keep funds on exchanges to sell on the spike, I'd spread your money around a bit. Bitstamp, BTCE, Bitfinex, are places where I would keep limits sells on the book for a big spike. |
|
|
|
Similar is the issue with the price. People think that Bitcoin is not divisible. I offered 0.1 Bitcoins to my other friend (6 months ago) as a gift and he refused because it seemed to him as a joke and argued that he would like to own exactly 1 Bitcoin or none at all.
To me, this is the bigger issue. We need to switch to mBTC so people won't feel small getting $5 worth of bitcoin. Then, will we switch to micro BTC, since all we seem to care about is pegging the value of BTC to fiat money? Yeah, let's rethink that. BTC is a unit of value, I tell you. Enough of this psychological crap to make newbies feel like earlier adopters... |
|
|
|
more and more people are realizing 10% interest a month on bitfinex will almost certainly make more than long term btc holding.
At 10%/month (what I've been making at finex), btc would have to be 6000 in 2 years.
I doubt most lenders lend out for months given the risk of goxings. Most are just lending out for a brief period. I have to agree -- given the volatility of bitcoin and the track record of exchanges, I can't imagine people just want to throw their savings onto BFX (LOL) and lend it out indefinitely for rates that very well may considered usurious in many jurisdictions. I do keep funds there (I spread across several exchanges), so when I sell too early (  ) I lend out 2 days at a time. But always nervous, doesn't feel good being locked in those contracts.... |
|
|
|
I heard MT Gox scammed a few people Too soon?  Not really an online wallet, though. Although, it did seem like quite a few people did use them as a wallet, mining address, etc. Pretty crazy. I would have thought after so many scams by centralized bitcoin services, that so many people wouldn't have trusted an exchange to be a wallet service... but knowing this community, this will only continue.... |
|
|
|
|
This all depends on how much demand there is off-exchange, which is always difficult to gauge. But it does seem that Barry Silbert, Pantera, some others have been loading up. Whale accumulation style. And Circle gonna need a lot of coins....
|
|
|
|
Another issue is that since the demise of MtGox, when people do use a log chart, it's usually the Bitstamp chart which only goes back to late 2012, totally missing the previous history, including the Great Bubble of June 2011 and extended period of under-valuation through 2012.
There have been log charts created that use Gox data and switch to Stamp data some time last summer when the price on the two exchanges was at par, but they are few and far between.
It's amazing how many people fail to see that we're still all early adopters.
It would appear that way. But I do try to keep in mind that these sorts of trends can only be relied on for so long. At some point, it will break and we will search for support lower down.... |
|
|
|
. Unless you're some rabid anarchist who gets offended at the fact that the government would even begin to think they could tell you that you now have permission to use bitcoin.  Not a rabid anarchist, but still someone who doesn't believe we need the .gov's permission to use BTC. Why does .gov need to get into in every aspect of your face, bedroom, life, etc (rhetorical question, no answer needed). .35 cent per kwh is cheap compared to what we pay here - .45 cent per kwh! Location: the banana republic of Hawaii.... Ouch, and I thought I was hurting here in Los Angeles. Trying so hard all the time not to crank the air conditioning in the summer.... DWP bills kill me. And bitcoin mining? Out of the question in this heat.... |
|
|
|
You cannot create something from nothing. You always have existed and you always will. Energy cannot be created nor destroyed, only transferred.
Sure, but what does that say about the question of "living"? I'd say the question of whether we can live forever is quite separate from the question of whether the matter that composes are body/essence exists forever. |
|
|
|
[kinda angry sounding rant]
Respectfully,
His "main point" is that finex traders are overleveraged to the long side. Since this is the speculation subforum, if one group of market participants does something that another group of market participants thinks is dumb, we will discuss it. That is all. Title is a bit sensationalist, but not claiming anything per se wrong. He could change it, I guess, but doesn't have to. To be honest, I don't think it's an inaccurate title, if sensationalist. Again, I think it would be prudent to consider the possibilities that a) the order book may not fill in to provide sufficient liquidity in a crash (right now, it's paper thin), and b) that in such a situation, we may not immediately recover most or all of those losses. At that point, we are at the whims of BFX -- how much loss will they take? How much will lenders take? Or will they just hold traders hostage indefinitely by locking the market down? Swap insurance is pathetic compared to the leverage allowed. They keep saying "it's less risky than it used to be" -- yeah, leverage allowed was even more insane before, but volume was lower and Bitstamp liquidity was there. That doesn't mean that at 2.5x that there is sufficient liquidity to justify the level of long swaps vs. order book. And why the fuck is Bitstamp liquidity gone, now that leverage has risen to unprecedented levels? Like someone else said, just keep thinking happy thoughts. But the answers provided by BFX do not begin to address the reality. |
|
|
|
I bought some and lost more Now I'm trying to get them back, after some negative experiences you learn the right way to earn BTC. Never give up. Hmmm, lost trading? Getting scammed? Losing private keys? I'm interested.  I have enough that I don't want to say just how much in this venue..... and little enough that I am still doing sig advertising.... |
|
|
|
Think about this: The Second Market Syndicate alone, one of the dozen bidding parties, wants 48,000 bitcoins. The Feds are only selling 30,000. Remember, only one of the dozen bidding parties.
In this case, buying pressure exceeds selling pressure.
Yeah, except the government will be auctioning off many more coins than this in the future. This won't be the only chance that big investors get. And there is always the OTC market... |
|
|
|
|
BTC-E is still my favorite -- most dependable trade engine, least lag, very good reputation. However, I do sometimes send to BFX to try to take advantage of the spread (and sometimes end up with $$ stuck there longer than I'd like, waiting for the spread to close back up).
|
|
|
|
My first and last lesson with online (3rd party) wallets was Inputs.io. Didn't keep too much on there -- less than 1 BTC. But it was a real wake-up call when I found out it had been "hacked"....  |
|
|
|
i don't understand why do people smoke
Regarding tobacco... why do people eat unhealthy food? Similar thing, I think. It gives a good feeling (calms nerves, slight euphoria maybe), then it's addictive. With cannabis, many actually consider it medicine for many things, so.... |
|
|
|
|
It will always work for the private keys that are included in the back-up. But remember, if you regularly create new addresses, make transactions, etc, you must back up your wallet regularly. Otherwise, new private keys generated may not be included in your original back-up.
|
|
|
|
faucets are great for getting low amounts of bitcoins for starting new endervours like advertising for referral programs and what not. Just cause you start out small doesn't mean you can't make it big! https://bitcointalk.org/index.php?topic=669344.0 check out my topic on how to get 50 000 satoshis in a few minutes you can use this to buy ads on btc websites that will generate you more satoshis with little to no work! Interesting. So, if I might ask, what are you advertising for -- your own site, some advertising service? What are you getting in return for the traffic that you generate? |
|
|
|
It really depends on you going to spend your time if you don't spend it on BitCoin faucets. I prefer my friend to do faucets then to play Dota 20 hours a day.
I agree. I have over 1500 hours of DOTA playtime on my steam account. If I had spent that time on faucets to click once per hour (easy to do). I would have had 0.01500000 BTC. If I had spent those BTC on Blackcoin when they were 1000 satoshi each and sold them @ 90000 during the massive peak I would have 1.35000000 BTC. Faucets are worth it if you save up and invest in trading on promising coins.  Yes well if you walked outside of banks and supermarkets looking for change you could find $15 worth in 1 day (which is more than 0.015BTC) and if you put that into AAPL or Google stock in 2005 you would own more than 1.35BTC. Can't live in the past. Just alter future behavior. How much is your time worth? Agreed, I'd have to think your time is worth more than that. Put this way, it would seem that it's more sensible just to find some fiat income and roll that into BTC as you can. Certainly better than faucets, if you can't find any goods/services to provide that are paid in BTC. |
|
|
|
Looking at Huobi's chart, I see a 5-wave up. The last attempt up was very weak, seems time for a corrective down. I'm looking at $575-580 area on Bitfinex, maybe a spike lower on BTCE, over the next day or so. |
|
|
|
They will rollback the trades and everything will be just fine, no need to worry so much about cascade.
This is only true if the price on other markets returns to the point prior to when the cascade went off. If there is a differential, then that portion of liquidated traders will lose. This has been my worry for a long time. Lenders will be fucked if the price on other exchanges doesn't recover and the book is liquidated. They should have cut back on trader's margin allowed a long time ago. It's out of hand. Leveraged traders will get wiped out first before lenders. And since bitfinex has insured all swap, they will get sued if they do not keep their promise. Yes, leveraged traders will get wiped out. First. You assume sufficient liquidity to save lenders. That's a joke. Bitfinex has not insured all swap! They have "effectively" insured it. Do that math -- 15% of swap fees? Versus the reality if they have to liquidate the book? Everyone is just so damn sure that a crash can't keep the price down. But if it does, Bitfinex can't lock traders in their positions, and lenders past their contracts, indefinitely. And that will be the end of this house of cards. (I'm amazed at how this community learns nothing from the past) |
|
|
|
|
Show Posts
