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Krinkle posted:Do all exchanges do this? How can you be trustless if you're trusting people with more bitcoin then they paid for? (haha this question proves I never got what margin call was I'm a dummy) exchanges aren't trustless, they require extensive proofs of identity. all the major contact points of bitcoin are centralized and non-anonymous offering margin on bitcoin when the health of your business is intimately tied to the price of bitcoin is a special kind of stupidity, though
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Jan 14, 2015 06:29
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Krinkle posted:Do all exchanges do this? How can you be trustless if you're trusting people with more bitcoin then they paid for? (haha this question proves I never got what margin call was I'm a dummy) Look, as long as you understand that the exchange lent him some of its internal fake bucks to buy some fake bitcoin securities but demanded real useless fiat as a collateral you'll get the sheer beauty of the situation.
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Jan 14, 2015 06:30
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My bitcoins? I bought them... on margin. You see, I am a refined investor 
trucutru fucked around with this message at 06:37 on Jan 14, 2015 |
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Jan 14, 2015 06:34
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buying a speculative and intensely volatile "asset" on margin is just so incredibly stupid.
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Jan 14, 2015 06:36
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Shifty Pony posted:buying a bicoin is just so incredibly stupid.
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Jan 14, 2015 06:37
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i don't get reddit, how do i search for ArcoponyBearish and his other posts? like i want to read his story, in his own words, like lincoln,or hitler
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Jan 14, 2015 06:43
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Beast of Bourbon posted:i don't get reddit, how do i search for ArcoponyBearish and his other posts? http://www.reddit.com/user/Arcopony quote:i'm still here, it's... really numbing... but the people on the suicide line have been great at keeping me from doing anything stupid. i think i'll live, and i hope i honestly do learn.
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Jan 14, 2015 06:49
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alone or in pairs rolls over your neighbors dog
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Jan 14, 2015 06:53
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Any minute now the tipping culture movement will turn this around!
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Jan 14, 2015 06:55
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Think we're gonna hit the 'aughts pretty shortly.
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Jan 14, 2015 07:00
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i put both too much and too little effort into this im sorry, ill do better next time
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Jan 14, 2015 07:01
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StopMakingSense posted:Think we're gonna hit the 'aughts pretty shortly. 206 
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Jan 14, 2015 07:05
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i leave for like 10 minutes to grab a pack of smokes at the dépanneur and i come back to darth vader nooooooooooo'ing joke's on me, i though i left the alert at <200, seeing 208 (while a nice surprise) kinda made me go a little limp
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Jan 14, 2015 07:07
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fwiw this represents a 4000% return on bitcoin from when we started mocking them.
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Jan 14, 2015 07:08
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How a lot of us who bought last year are feeling right now. (imgur.com) submitted 4 hours ago by Medialab101 
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Jan 14, 2015 07:08
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(doggy was fine in the end don't worry)
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Jan 14, 2015 07:08
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That Arcopony dude is indeed a good source.quote:Any antiaging/radical life-extension nonprofits accepting Bitcoin? quote:I think you're completely missing the point. I want to LIVE. If I save every bitcoin, but die and don't get reanimated, what's the point? I value my life more than i value my bitcoin, even if i had 20 million of them. If the future cryonicists are evil and kill me and hack my brain well there is nothing i can do to stop that. But if they are not then i'd rather spend my bitcoins and live as long as possible than die rich. trucutru fucked around with this message at 07:13 on Jan 14, 2015 |
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Jan 14, 2015 07:10
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 china is about to breach 200 e: @1236NCY<>200USD china is now under 200, 1230 cny and falling
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Jan 14, 2015 07:12
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This is it people. I love you all.
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Jan 14, 2015 07:13
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$203.3 So close
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Jan 14, 2015 07:13
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YOSPOS › bitcoin: I'm still crying but at least i'm not barfing anymore. thank
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Jan 14, 2015 07:17
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quote:[–]IHodlThereforeIExist 5 points an hour ago quote:[–]hfutrell 8 points 44 minutes ago
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Jan 14, 2015 07:17
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Krinkle posted:Do all exchanges do this? How can you be trustless if you're trusting people with more bitcoin then they paid for? (haha this question proves I never got what margin call was I'm a dummy) my guess is you never actually get the bitcoins/stock/whatever the exchange/broker you borrowed them from will hold them and execute the trades, but since you're borrowing them you get to call the shots, and you take the profit or loss. if the price gets too low and you don't increase the deposit (the "margin call"), they'll sell the coins and take the money + your deposit as repayment does that sound about right? the follow-up question is how do you know they actually have the coins you're borrowing, and they don't necessarily. if they don't, you're really just betting with them on the price, and it's what's known as a bucket shop http://en.wikipedia.org/wiki/Bucket_shop_(stock_market)
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Jan 14, 2015 07:23
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  e; wait that was a million somethin like 20 minutes ago the eff
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Jan 14, 2015 07:29
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gah your units are weird 
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Jan 14, 2015 07:30
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surebet posted:gah your units are weird man it's my high school prom all over again 
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Jan 14, 2015 07:31
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rotor posted:man it's my high school prom all over again triggered
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Jan 14, 2015 07:32
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well i was gonna say that i take pride in not taking the time to figure out anything bitcoin but that would be both a dirty lie and changing it from mBTC took 3 clicks so im sorry some more you know let's all take a minute to laugh at bitcoinity still defaulting to $ per millibitcoin, its so perfect
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Jan 14, 2015 07:34
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Wulfolme posted:well i was gonna say that i take pride in not taking the time to figure out anything bitcoin but that would be both a dirty lie and changing it from mBTC took 3 clicks so no worries, their hopeless optimism is funny in btc or mbtc
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Jan 14, 2015 07:47
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rotor posted:fwiw this represents a 4000% return on bitcoin from when we started mocking them. both in usd and laffs
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Jan 14, 2015 07:48
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not going to c&p everything off of reddit, but this is basically 51% of all the posts right nowquote:[–]L_Ron_Cool_J -1 points 28 minutes ago*
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Jan 14, 2015 07:50
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No Pain, No Gain. (self.Bitcoin) submitted 29 minutes ago by mbaetekio If i hodl and it tanks to zero will the pain be that much worse? not really. if I buy and the price goes up... Well, that my friends is what I call the Gain after the Pain. so it's all HODL for me regardless of the final outcome. I may even purchase as the train goes lower. only because my instincts are telling me to sell. my instincts are frequently incorrect when it comes to bitcoin. i know we just changed the thread title but lol
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Jan 14, 2015 07:50
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 mr gorbachev plz
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Jan 14, 2015 07:51
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bitcoin: my instincts are frequently incorrect
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Jan 14, 2015 07:54
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My friend has a daughter... (self.Bitcoin) submitted 8 minutes ago by bitscavenger And I am going to compare her with Bitcoin. Let us call her Claire. Claire is 4 years old but she is remarkably tall and looks like she could be 6 or 7. Claire has a problem where everyone interacting with her expects her to behave like a 6 or 7 year old when she truly has the maturity of a 4 year old. There is nothing wrong with Claire but society seems to demand more. Bitcoin is a 6 year old. We push, pull, and prod Bitcoin trying to accelerate it to behave how we think it should act. We feel like it is capable of so much and we treat it like it should already be there. Bitcoin grew to look like a serious contender from the outside so we expected it to behave like one already. There is nothing wrong with Claire and there is nothing wrong with Bitcoin. Both will throw tantrums at times and when we really take a step back and reflect, we realize these are age appropriate actions.
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Jan 14, 2015 07:55
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JaysonAych posted:No Pain, No Gain. (self.Bitcoin)  , how about slamming your head in a door and then going to gym, mr. buttcoiner
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Jan 14, 2015 07:55
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i never want to hear bitcoiners talking about how a little girl looks older than they are
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Jan 14, 2015 07:58
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Boxturret posted:i never want to hear bitcoiners talking about how Boxturret posted:i never want to hear bitcoiners talking about a little girl
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Jan 14, 2015 08:00
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Boxturret posted:i never want to hear how talking about bitcoin same
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Jan 14, 2015 08:01
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Boxturret posted:i never want to hear bitcoiners talking about how a little girl looks older than they are
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Jan 14, 2015 08:05
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