serveria.com
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December 11, 2020, 04:45:32 PM Merited by JayJuanGee (1) |
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Maybe EOY liquidation already?
Its a break of bullish price channel. We leave a regular assured process of gains and some speculators will depart, it can snowball into some profit taking and is quite a natural normal process to occur. Arguably BTC markets have to cycle through prices to be take the air out and give a solid base for further rises, its not that harsh considering how much we gained in quite a short amount of time. Snowball into some profit taking? R u serious? So who's going to sell? Grayscale? Microstrategy? Maybe Paypal? It's not 2017 bro... ![Cool](https://bitcointalk.org/Smileys/default/cool.gif)
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Dabs
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December 11, 2020, 04:55:25 PM |
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Years ago I read a complaint that they promise unlimited withdrawals, but in reality only allow $50k a year. When I recently checked their site it says they allow $100+ million a year for their top tier. However I haven't had a chance to ask anyone about their experience of a really big withdrawal yet.
I don't really get why exchanges would have any limits. They usually don't have incoming limits. You can send any amount of coin to them, you can also send any amount of fiat to them. If someone sent a thousand coins to the exchange, and if someone else bought those coins (or more than one person), those sent in the equivalent fiat, why should the first one not be allowed to withdraw it all? The exchange has already made their profit on trading fees or any other fees they may have.
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OutOfMemory
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December 11, 2020, 04:55:51 PM |
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Maybe EOY liquidation already?
Its a break of bullish price channel. We leave a regular assured process of gains and some speculators will depart, it can snowball into some profit taking and is quite a natural normal process to occur. Arguably BTC markets have to cycle through prices to be take the air out and give a solid base for further rises, its not that harsh considering how much we gained in quite a short amount of time. Snowball into some profit taking? R u serious? So who's going to sell? Grayscale? Microstrategy? Maybe Paypal? It's not 2017 bro... ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) Short version: there are not only macro traders into bitcoin. Some definitely saved their FOMO investments of late 17' Torque and STT just layed out what stood behind my four words ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) I am too lazy in communication too often ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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HI-TEC99
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December 11, 2020, 05:32:23 PM |
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Years ago I read a complaint that they promise unlimited withdrawals, but in reality only allow $50k a year. When I recently checked their site it says they allow $100+ million a year for their top tier. However I haven't had a chance to ask anyone about their experience of a really big withdrawal yet.
I don't really get why exchanges would have any limits. They usually don't have incoming limits. You can send any amount of coin to them, you can also send any amount of fiat to them. If someone sent a thousand coins to the exchange, and if someone else bought those coins (or more than one person), those sent in the equivalent fiat, why should the first one not be allowed to withdraw it all? The exchange has already made their profit on trading fees or any other fees they may have. That should be how it works, but it's not always how it works.
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fillippone
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December 11, 2020, 05:43:18 PM |
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Two apparently unrelated news: - Negative Yielding Debt Tops 18 Trillions Dollars
- Microstrategy Issue
400 500 650 Millions of debt to buy Bitcoin.
How comes I am not surprised? Relevant tweet from a shady twitter account: Negative Yielding Bonds hit 18 Trillions Worldwide. 100% possibility to lose money if held to maturity. BTC is the only hedge against this. #phase5 https://twitter.com/fillippone1/status/1337447410654728194?s=20More here
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BobLawblaw
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December 11, 2020, 06:40:46 PM |
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Why was it a nightmare? How long did it eventually take?
Took a week or so to get ironed out, but then I discovered that they had ludicrously low annual cashout limits, so stopped using them entirely, in favor of Gemini.
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d_eddie
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December 11, 2020, 06:50:17 PM Last edit: December 11, 2020, 07:02:35 PM by d_eddie |
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I haven't cashed out from Kraken yet, but the limits depend on your verification level. They get reasonably high with the max verification level, and I think they can even be pushed a little higher by negotiating. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.ibb.co%2FggkxqWB%2Fcapture-001-11122020-195451.jpg&t=665&c=NZvNBj2LNW7cTg)
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WastedLTC
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December 11, 2020, 06:51:17 PM |
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Why was it a nightmare? How long did it eventually take?
Took a week or so to get ironed out, but then I discovered that they had ludicrously low annual cashout limits, so stopped using them entirely, in favor of Gemini. Had some kinks with Kraken but they worked out the issue and resolved in a couple days, never had another problem. Gemini has always been rock solid.
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LFC_Bitcoin
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December 11, 2020, 07:38:19 PM |
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0.1 BTC or her for the night? ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.ibb.co%2FhR0DBXc%2F280-DB477-32-E0-4-F65-A5-B9-2-AD0-BD38-C02-A.jpg&t=665&c=d4d1wfnfJTf_HQ) I haven't cashed out from Kraken yet, but the limits depend on your verification level. They get reasonably high with the max verification level, and I think they can even be pushed a little higher by negotiating. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.ibb.co%2FggkxqWB%2Fcapture-001-11122020-195451.jpg&t=665&c=NZvNBj2LNW7cTg) Kraken withdrawals are quick & smooth. I had to really fight to get the max withdrawal limit though (in anticipation of next years big run). They wanted proof of my BTC purchases & salary & all sorts.
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JayJuanGee
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December 11, 2020, 07:49:06 PM |
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I got an email from my bank. "We tried to phone you to clear some issues with a wire you made in the past days, but we didn't manage to talk to you." Of course. I had it switched off. So I called back, but the line mysteriously dropped after the person on the other end said "let me check this... wait a minute...". Twice. I already had a hunch what it was about, but of course I thought I'd play dumb to extract as much info as possible. An hour later, I tried calling for the third time. At last, I get through to someone who can actually explain. The problem was with a wire I made to Kraken. Not a big amount by any means - something in the ballpark of Bob's recent addiction buys* ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Bank - "We just want to make sure you actually ordered the wire." Me - "Why? I make dozens of wires, it's the first time..." (Actually not the first: they called once upon a time when I moved most of my fiat to another bank because they pissed me off - but that was to beg: please don't please don't.) Bank - "I don't know, it's like an automatic system flag... well, it's to some kraken.com." Me - (Aha!) "I see. So what's the issue?" Bank - "No issue, sir. We just want to make sure it was actually you who wired the money." Me - "I did. But now I'm worrying. Is this a scam site or something?" Bank - "It is some cryptocurrency site, I think... but as I said, it's just an automatic flag. Nothing to worry about, sir." Me - "What if Kraken sends some funds to me? Will the transfer get a flag too? Will the incoming wire be blocked?" (Slightly implying - should I close my business with you altogether?) Bank - "Oh no, sir. Incoming transfers are never stopped. There might be some formal issue with outgoing transfers once in a while, but never the other way round." Me - "I am afraid. I don't want any problems, you see." Bank - "Just an automatic flag, sir. Thank you." Things are stirring up, gents. Brace yourselves. Maybe you are reading too much into it. Banks have alert triggerings of all sorts. Ie: - Amounts significantly over the usual for your profile. - Abnormaly high number of tx's. - Origin/destination to flagged accounts (ie: Accounts completely blacklisted, suspicious accounts, Bitcoin exchanges?). - Tx's to/from other countries (this one is the main one when it is not clearly justified considering your informed profile). - etc etc.... And combinations of the above. Depending on the alert triggered it may involve a lock of account, a request of confirmation, and/or a request for additional information. There are several reasons why banks NEED to do this: 1- To protect themselves from huge fines for not supervising money flow in accordance to KYC/AML and other regulations they are subject to. 2- To protect clients from having their funds extracted by hackers, etc... 3- To know what their clients are doing to detect trends and business opportunities. etc.... The staff you talked to probably don't know what was exactly what triggered your alert, they just follow procedure (just confirmation in this case) even if they may have some idea based on their previous experience from similar "events". What do you think would most probably apply in your case for having triggered a confirmation alert? You are too smartie pants for your own good, bitserve!!! ![Angry](https://bitcointalk.org/Smileys/default/angry.gif) ... know that I hold more BTC in reserve than I could reasonably spend in my lifetime.
You could simplify it a bit by setting a fixed (in fiat) amount of extra money to spend, or not spend. If you really want to unreasonably spend everything in your lifetime, you will need either an estimate of how much time you have left or fudge it a bit more, then divide your corns by that number of years, and you have a maximum number or ceiling to liquidate. A nice number to assume would be 30. Since , as you know, plenty of sources say 25x of your annual expenses and in theory you should be able to live on 4% of that for the rest of your life. So, if you have say, 300 corns, then divide that by 30, that means you can probably spend 10 corns every year, and you'll be unreasonably spending everything until it runs out. It will take 30 years to deplete, and as the price fluctuates, goes up, or goes down, probably going up for the next 30 years, you'll end up with more fiat than you know what to do with. Imagine being "forced" to spend 1 corn a month for the next 30 years. If you're still alive in 30 years, you'll either run out of corn but have a lot of fiat, OR you didn't spend all your corn and can keep drawing on it. If you're not already a billionaire, do not get a private jet. You will need more than the price of the plane to pay for it, maintenance, expenses, a full tank of fuel everytime you fly, salary for your pilot, all sorts of paperwork. I think flying first class or even business class, when you do need to travel, is quite okay with a lot of people already. Funny, you are describing a plan that I concocted a few years back...dividing by 30, etc. However, I deviated from it...don't want to cash out and spend yet, lol If the asset is presumed to appreciate, then you would not need to withdraw as much in later years. But, my own formula does not suggest withdrawing principle in the earlier stages, but instead an ability to completely live off of the expected appreciation.. and of course, at some later date(s) plans would be adjusted to withdraw principle too, if there is a desire to deplete some of that instead of leaving it upon death or otherwise being o.k. with depleting some or all of the principle.
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Toxic2040
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December 11, 2020, 08:13:11 PM |
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noon charts #dyor 1h ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2Fkf0HaU3.jpg&t=665&c=vKSltGvdZhtSZQ) 4h ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FjiIb2Gt.jpg&t=665&c=qDFjCa9SEWKOMw) #stronghands
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irfan_pak10
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December 11, 2020, 08:28:36 PM |
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0.1 BTC or her for the night? ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.ibb.co%2FhR0DBXc%2F280-DB477-32-E0-4-F65-A5-B9-2-AD0-BD38-C02-A.jpg&t=665&c=d4d1wfnfJTf_HQ) I would go for 0.1 BTC, she might have covid and upon contact, she might infect me with that shit. I like to live and spend those 0.1 BTC at some nice foods not her
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JayJuanGee
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December 11, 2020, 08:36:15 PM |
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What a fool. How did this get published? Any change to the 21 Million coins is a fork and no longer Bitcoin. This is the same argument as "not enough coins available on exchanges" or "exchange coin shortage". If there are fewer coins available for sale, the price goes up. There will always be coins available for your dollars, you just get fewer satoshis per dollar. There is no shortage, the price is just too damn low! Plus, what does moving a decimal place have to to do with DeFi? There are already 21,000,000 * 100,000,000 = 2,100,000,000,000,000 satoshis. Does the author not know you can transact with less than a whole bitcoin? More FUD to scare away anyone thinking about investing. It's articles like this that ensure only the most intelligent people get into bitcoin while the 99% stay ignorant and poor. I guess in that way, it's a good thing. FTFY
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HI-TEC99
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December 11, 2020, 08:39:20 PM Last edit: December 18, 2020, 04:55:23 AM by HI-TEC99 |
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Why was it a nightmare? How long did it eventually take?
Took a week or so to get ironed out, but then I discovered that they had ludicrously low annual cashout limits, so stopped using them entirely, in favor of Gemini. How low are/were the limits, and have they increased them since then? Do the limits they state on their site match the limits they allow when you actually try to make a withdrawal?
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Biodom
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December 11, 2020, 08:58:03 PM |
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Why was it a nightmare? How long did it eventually take?
Took a week or so to get ironed out, but then I discovered that they had ludicrously low annual cashout limits, so stopped using them entirely, in favor of Gemini. They probably changed it afterwards, it is now much higher for pro level (daily $10mil), with a strange exception for Texas (TX is only up to 200K daily or something like that). I have no idea why, maybe their bank has a quirk. I also agree with a notion that all these limits are silly as it is YOUR money.
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600watt
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December 11, 2020, 09:00:20 PM |
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this is a speculative attack. and we all know it is a viable one. and Wall Street will watch it in awe. and it will work out. every calculation about bitcoins possible future value needs to be re assessed. when we calculate the future price of btc we always try to figure out what percentage of what market cap or asset value could migrate into btc. this is short sighted. this leaves out the elephant in the finance room. we always calculate with existing value. but there is a much larger value in the form of credit. fractional reserve. banks create money out of thin air by creating credit. if you go to your bank tomorrow and get a 50k loan for a new kitchen, the bank creates those 50k with a stroke of a key into their accounting ledger. this is not the "money printed" by central banks. this is money printed by every private bank on the planet every day, all the time. the narrative "don't speculate with borrowed money" that sort of prevents us from maxing out our credit to buy moar btc is about to change. what seemed to be irresponsible in the past will seem mandatory in the future. you can trade worthless, ever-inflating, dirty, debased fiat money in the form of truly limitless credit into the hardest asset ever invented. into pristine, mathematical secured collateral. into the a proven trustless digitally scarce unforgeable, uncensoreable, unconfiscateable best form of money ever existed. and the interest for credit is at historical lows, so it is even fkn cheap to do so and also - since the interest is so low it is hard to find an asset that creates enough returns via interest - fiat has no chance. credit is cheap. bitcoin will rise. as soon as this gains traction it will swell to a tidal wave. credit will destroy fiat. because the best bet for credit is to bet against fiat. because fiat is worthless and bitcoin is truly scarce. i will talk to my bank tomorrow and I will get a loan. and with it I will buy btc. and if btc rises I can get more credit. rinse and repeat. this is how rich families have played the real estate market for decades now: get a loan with real estate as collateral, buy more real estate. wait for prices to rise, get another loan buy more real estate. this game will be played with bitcoin. and since bitcoin is not a clunky 7 bedroom hacienda but a native digital asset moving at warp speed through the interwebs. holy cow - the extend to how deeply fucked the fiat world is I have problems to find the words here. fiat is limitless. credit is limitlessness on top of limitlessness. bitcoin is the first truly scarce, limited asset. my conviction doubled. grab all bitcoins you can. sub $20k is as hilarious as $2, considering how much credit banks can produce. I declare complete and utter victory. saylor for president. fractional reserve will eat its children.
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JimboToronto
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December 11, 2020, 09:00:29 PM |
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Why was it a nightmare? How long did it eventually take?
Took a week or so to get ironed out, but then I discovered that they had ludicrously low annual cashout limits, so stopped using them entirely, in favor of Gemini. Had some kinks with Kraken but they worked out the issue and resolved in a couple days, never had another problem. Gemini has always been rock solid. Thank gawd I haven't had to use an online exchange since Mtgox. It's faster, easier, cheaper, safer, and fully anonymous dealing face-to-face with an honest neighborhood dealer behind closed doors.
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friends1980
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December 11, 2020, 09:07:37 PM |
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This WO reminds me of the Procession of Echternach: you stay away for 2 days, you need 4 days to get back on track. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) That being said: I just want to take a moment to thank Bob for digging the price out of the 17s singlehandedly by rapid fire $500 purchases on PayPal and Kraken.
Does no-one think of Rick, So lonely in his room, While Bob is on his laptop, Keeps BTC in bloom.Apparently: I do. #nohomo and just in case no-one noticed: #nohaiku either
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explorer
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December 11, 2020, 09:10:27 PM |
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good to know your life is not just 24/7 daytrading on paypal. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) As I noted earlier, I feel gross buying BitcoinPP. Don't think I'm going to do it any more, until they start offering a way of transferring out. If they end up keeping it entirely within their system in a custodial fashion, that's, like, not cool, dude. Ain't gonna support that long-term. Another addiction ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Kick it Bob! Kick it!
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