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Brob12321
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December 19, 2015, 06:12:44 PM |
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Wow the spread on Bittrex is over 100% right now. Sell order is 0.0002 BTC and the buy order is 0.00008500 BTC.
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Nobitcoin
Legendary
 Offline
Activity: 966
Merit: 1000
In holiday we trust
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December 19, 2015, 06:14:48 PM |
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Wow the spread on Bittrex is over 100% right now. Sell order is 0.0002 BTC and the buy order is 0.00008500 BTC.
Sorry what does that mean in layman's terms ? |
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Brob12321
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December 19, 2015, 06:40:52 PM |
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Wow the spread on Bittrex is over 100% right now. Sell order is 0.0002 BTC and the buy order is 0.00008500 BTC.
Sorry what does that mean in layman's terms ? It means that the difference between the buy and sell price of the coin is at over 100% difference. Meaning that if you buy the coins you are at a 100% loss instantly. |
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Heutenamos
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December 19, 2015, 07:05:04 PM |
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Wow the spread on Bittrex is over 100% right now. Sell order is 0.0002 BTC and the buy order is 0.00008500 BTC.
Sorry what does that mean in layman's terms ? It means that the difference between the buy and sell price of the coin is at over 100% difference. Meaning that if you buy the coins you are at a 100% loss instantly. In more simple words ,it is now a type of ponzi and when other folks invest in he coin then you could cashout and get some profits if you are lucky but again the guy invested has to wait for the third one and so on cause there isn't interest and no reaction from people unlike clams which has hundreds of coins volume. |
yo
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DigiCube (OP)
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December 19, 2015, 07:11:50 PM |
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Wow the spread on Bittrex is over 100% right now. Sell order is 0.0002 BTC and the buy order is 0.00008500 BTC.
Sorry what does that mean in layman's terms ? It means that the difference between the buy and sell price of the coin is at over 100% difference. Meaning that if you buy the coins you are at a 100% loss instantly. In more simple words , it is now a type of ponzi and when other folks invest in he coin then you could cashout and get some profits if you are lucky but again the guy invested has to wait for the third one and so on cause there isn't interest and no reaction from people unlike clams which has hundreds of coins volume. If you honestly think this, you have a fundamental lack of that words connotation.... |
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dalistar
Member
Offline
Activity: 126
Merit: 10
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December 19, 2015, 07:13:41 PM |
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Wow the spread on Bittrex is over 100% right now. Sell order is 0.0002 BTC and the buy order is 0.00008500 BTC.
Sorry what does that mean in layman's terms ? It means that the difference between the buy and sell price of the coin is at over 100% difference. Meaning that if you buy the coins you are at a 100% loss instantly. For me I not care price. .. I am happy to see my wallet every day staking and my coins more and more .... even if 0 I don't care  |
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DigiCube (OP)
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December 19, 2015, 07:31:28 PM |
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Wow the spread on Bittrex is over 100% right now. Sell order is 0.0002 BTC and the buy order is 0.00008500 BTC.
Sorry what does that mean in layman's terms ? It means that the difference between the buy and sell price of the coin is at over 100% difference. Meaning that if you buy the coins you are at a 100% loss instantly. Is this a joke...? |
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Nobitcoin
Legendary
Offline
Activity: 966
Merit: 1000
In holiday we trust
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December 19, 2015, 08:35:05 PM |
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Wow the spread on Bittrex is over 100% right now. Sell order is 0.0002 BTC and the buy order is 0.00008500 BTC.
Sorry what does that mean in layman's terms ? It means that the difference between the buy and sell price of the coin is at over 100% difference. Meaning that if you buy the coins you are at a 100% loss instantly. Is this a joke...? Well as long as you don't sell as soon as you buy then you will not inccur losses. I'm still staking still hoping for a white Xmas. |
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Heutenamos
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December 19, 2015, 09:21:58 PM |
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Wow the spread on Bittrex is over 100% right now. Sell order is 0.0002 BTC and the buy order is 0.00008500 BTC.
Sorry what does that mean in layman's terms ? It means that the difference between the buy and sell price of the coin is at over 100% difference. Meaning that if you buy the coins you are at a 100% loss instantly. In more simple words , it is now a type of ponzi and when other folks invest in he coin then you could cashout and get some profits if you are lucky but again the guy invested has to wait for the third one and so on cause there isn't interest and no reaction from people unlike clams which has hundreds of coins volume. If you honestly think this, you have a fundamental lack of that words connotation.... no i don't honestly think it but that is how the coin is working for now ,i know what is going to happen if i buy thousands of cubes and how i am helping the early investor if i do so. However it could be none of your fault but it is nothing different to the above nor is different from ponzi . Think of the market when i have invested a full Bitcoin in the coin/cube and the price raised to 800k -1 million and then i am staking happily for weeks but i have to cashout eventually or else i need a bigger market where everything is accepted/exchanged via cubes and sadly such markets doesn't exists. Now, it's more than sure that no one is going to buy the coin for that price and so all the coins staked by me are now waste or worth the value decided/placed by the buyer on the exchange...If i sell them at any price and get easy somehow then the new buyer has to repeat/face the same problems and so it ends in some type of ponzi but hey i am not accusing you for this. This might go wrong if people start investing in it like other high valued coins (ltc ,clams,ether etc) where you have enough market volume to play some strategies and get some real benefits for the effort you put in. |
yo
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DigiCube (OP)
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December 19, 2015, 10:00:19 PM |
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That is not even remotely how a ponzi works
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Heutenamos
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December 19, 2015, 10:10:33 PM |
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That is not even remotely how a ponzi works
A simple google was enough and i already told you that maybe you are not aware of it or have not done anything shady in the run but sadly it is acting in such a way. The difference is of the operator and the profits are taken instead of being given. A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator. |
yo
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bones261
Legendary
Offline
Activity: 1806
Merit: 1827
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December 19, 2015, 10:30:45 PM |
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That is not even remotely how a ponzi works
A simple google was enough and i already told you that maybe you are not aware of it or have not done anything shady in the run but sadly it is acting in such a way. The difference is of the operator and the profits are taken instead of being given. A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator. By your definition, that would make Bitcoin itself a ponzi scheme. GTFO.  |
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Arrakeen
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December 19, 2015, 11:06:51 PM |
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By your definition, that would make Bitcoin itself a ponzi scheme. GTFO. Wait...isn't it? Isn't all exchange of valuables conducted in such a manner?  That's what I've never understood when people accuse coins of being ponzis. I mean, if a website is passing down investments from user to user while pocketing a portion, then shutting down shop, that's what I'd call a ponzi. A business selling shitty knives, Shkreli, etc. ex.)  http://gothamist.com/2015/12/17/us_vs_martin_shkreli.phpRegarding US currency: ...if the Chinese and Japanese decide they’d rather not keep putting an increasing amount of money into financing our Governmental spending juggernaut, the Fed can just print money under the orders of the President to keep the gerbil going on the wheel...Hell, I haven't seen the big pile of gold we claim to have...has anyone else? |
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sparklerz
Member
Offline
Activity: 67
Merit: 10
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December 19, 2015, 11:44:11 PM |
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Ponzi or not this coin will be dead soon before the scheduled shipment of stake stick in which @Digicube was bragging about. Mark my words!
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yoman1289
Member
Offline
Activity: 65
Merit: 10
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December 20, 2015, 01:12:54 AM |
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y'all ruined christmas
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bhokor
Legendary
Offline
Activity: 966
Merit: 1000
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December 20, 2015, 01:17:53 AM |
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Yesterday i was speaking with a good friend about the problem of use mmc memory or sd for storage blockchains, and the conclusion was it is far from optimal because the limit in numer of writes is quite limited, probably the stick would fail in less than a year, but i think we will not see it
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DigiCube (OP)
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December 20, 2015, 01:37:19 AM
Last edit: December 20, 2015, 02:57:45 AM by DigiCube |
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Yesterday i was speaking with a good friend about the problem of use mmc memory or sd for storage blockchains, and the conclusion was it is far from optimal because the limit in numer of writes is quite limited, probably the stick would fail in less than a year, but i think we will not see it
Yes, that is common sense about SD cards, (I have warned people about this many many times) which it is not using unless you change something |
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Heutenamos
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December 20, 2015, 04:49:36 AM |
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That is not even remotely how a ponzi works
A simple google was enough and i already told you that maybe you are not aware of it or have not done anything shady in the run but sadly it is acting in such a way. The difference is of the operator and the profits are taken instead of being given. A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator. By your definition, that would make Bitcoin itself a ponzi scheme. GTFO. was it so hard for you to understand my point ? anyways,I am sure that you havent read anything but i don't know what stops me to cashout my bitcoins whenever i want ? do i have to wait for new investors ? NO i don't need to and thus bitcoin is not a ponzi. I have clearly stated above that the developer might not be involved but there are a couple of people who are present to play the role,which requires new one's to continue the cycle . |
yo
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bones261
Legendary
Offline
Activity: 1806
Merit: 1827
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December 20, 2015, 05:25:25 AM |
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That is not even remotely how a ponzi works
A simple google was enough and i already told you that maybe you are not aware of it or have not done anything shady in the run but sadly it is acting in such a way. The difference is of the operator and the profits are taken instead of being given. A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator. By your definition, that would make Bitcoin itself a ponzi scheme. GTFO. was it so hard for you to understand my point ? anyways,I am sure that you havent read anything but i don't know what stops me to cashout my bitcoins whenever i want ? do i have to wait for new investors ? NO i don't need to and thus bitcoin is not a ponzi. I have clearly stated above that the developer might not be involved but there are a couple of people who are present to play the role,which requires new one's to continue the cycle . When you cash out those bitcoin, where do you think the fiat is coming from? You don't think the Bitcoin economy relies at all on getting new investors from time to time? OK, whatever. |
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Heutenamos
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December 20, 2015, 05:35:47 AM |
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That is not even remotely how a ponzi works
A simple google was enough and i already told you that maybe you are not aware of it or have not done anything shady in the run but sadly it is acting in such a way. The difference is of the operator and the profits are taken instead of being given. A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator. By your definition, that would make Bitcoin itself a ponzi scheme. GTFO. was it so hard for you to understand my point ? anyways,I am sure that you havent read anything but i don't know what stops me to cashout my bitcoins whenever i want ? do i have to wait for new investors ? NO i don't need to and thus bitcoin is not a ponzi. I have clearly stated above that the developer might not be involved but there are a couple of people who are present to play the role,which requires new one's to continue the cycle . When you cash out those bitcoin, where do you think the fiat is coming from? You don't think the Bitcoin economy relies at all on getting new investors from time to time? OK, whatever. it doesn't relies but yes it has an effect for sure. There is a big difference between the two. |
yo
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