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Jeffrey of YOSPOS
Dec 22, 2005

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If you want to buy forums upgrades with bitcoins instead of dollars, you can PM me and we'll work something out. I'll even give a 10:1 discount - plat may cost :10bux: but it only costs one bitcoin.

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Jeffrey of YOSPOS
Dec 22, 2005

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walgreenslatino posted:

You think bitcoin is stupid and an embarrassing waste?

There's people on this forum who have been energetically posting in an anti-bitcoin thread every single day for like four years

no, you don't get it, the money is computer!!!

Jeffrey of YOSPOS
Dec 22, 2005

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They'll probably end up trying again in another country. The US is ideal but the chances of it being rejected everywhere are low.

Jeffrey of YOSPOS
Dec 22, 2005

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LethalGeek posted:

The current price is largely a result of an exchange losing nearly all paths to get US dollars out, so everyone is selling their coins on that service to get them out which has created this bubble that will crash. This is because most any bank and this point wants nothing to do with money touched by buttcoin

Uhh....this is awkward but uhh....sell offs make the price go down, not up.

Jeffrey of YOSPOS
Dec 22, 2005

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QuarkJets posted:

It's not a sell off, Bitfinex stopped all cash withdrawals because they ran out of banks who would work with them so people with cash deposits there tried to convert their cash into bitcoins. This translates into demand for bitcoins, driving the price up. We saw the same rapid price climb for the same reasons back when MtGox stopped cash withdrawals. If you know what happened to MtGox after that, you can probably see what's coming.

Note that Bitfinex is the same exchange that lost a bunch of bitcoins in a hack and decided to give all of their customers a 36% haircut last year, even customers who didn't have any bitcoin deposits. So people who are still investing over there are already dumb as bricks

Yeah that makes sense - you said "so everyone is selling their coins on that service" when really "so everyone is buying coins on that service" is what's going on and indeed would lead to the price going up. I dunno who the hell is providing that liquidity but whatever lol.

Jeffrey of YOSPOS
Dec 22, 2005

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LethalGeek posted:

I goofed up my phrases but I can answer this: They are allowing people to margin/short 3 1/3 to 1 within the exchange on top of not being able to get actual money in or out.

Ahaha what??? I assume you need an account in good standing or something, how the hell could they possibly enforce a margin call on a bitcoin exchange? I guess maybe you can only short as much as you're holding such that you can always pay back the borrowed bitcoins and aren't actually leveraged, but can accept the risk of the exchange folding in exchange for extra (not-quite) money if bitcoins do fall in price.

Jeffrey of YOSPOS
Dec 22, 2005

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LethalGeek posted:

The funny thing this was the thread from a few months ago when it got over some price...and then crashed a couple weeks later after all the bitcoin idiots were trying to be all smug while the rest of us correctly pointed out it always goes back down. It got bumped to remind us drug selling idiot lost his appeal so he'll be in jail forever.

Uh yeah it continued varying but it didn't really significantly crash at all. It's not like whether it's 800 or 1000 is the point - the naysaying goons who've been posting "the money is computer LMFAO!!!!" for five years were, in fact, totally wrong and it's funny that they still keep their threads around as monuments to their incompetence. Turns out bitcoins had the right kind of ram, after all.

Jeffrey of YOSPOS
Dec 22, 2005

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A tiny percentage drop from a sell off that the market corrected for within minutes? I mean like, it does cross the "significant" line but it's nothing you wouldn't see in any currency outside of the big strong first world ones. Misleading chart/10.

Jeffrey of YOSPOS
Dec 22, 2005

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BENGHAZI 2 posted:

How much money have you actually made on Bitcoin
ahh the ultimate pwn - "oh yeah, you must also have the wrong type of ram, yourself"

Jeffrey of YOSPOS
Dec 22, 2005

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OMGVBFLOL posted:

god damnit you're the closest thing to a cool mod we have right now don't be a fuckin' buttcoiner lmao
Sorry I didn't buy any bitcoins because I listened to the dozens of idiot naysaying goons who are still covering their ears and humming the same tune as they were in 2012. I'm mad!!!

I mean someone literally said something like "this is the funniest thing since bitfinex stopped allowing withdrawals". I don't know what that means but I guarantee that guy needs more humor in his life!!!

Jeffrey of YOSPOS
Dec 22, 2005

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Space Crabs posted:

I think the idea, now work with me here, was that investing hundreds of millions of dollars in "Magic The Gathering: Online Exchange" was funny from the start, and made sense when people "lost" tens of millions of dollars of investments into Magic The Gathering: Online Exchange.

lmao you said magic the gathering lmao

imagine posting that for 5 years

Jeffrey of YOSPOS
Dec 22, 2005

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Space Crabs posted:

you are the one from YOSPOS buddy
at least I still have the good sense to feel ashamed

Jeffrey of YOSPOS
Dec 22, 2005

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BENGHAZI 2 posted:

You don't because you get arrested because most of them are honey pots these days

this dude just has a fuckin' answer for everything lol, really nailing it

Jeffrey of YOSPOS
Dec 22, 2005

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QuarkJets posted:

hey you were one of the posters mad about goons making fun of bitcoins right? have you bought any yet?

oh man and you will not believe my collection of xbox one ram and doobie's hot dogs!!!!!

Jeffrey of YOSPOS
Dec 22, 2005

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vortmax posted:

yeah goons are still making GBS threads on bitcoins and they're objectively wrong so Jeffy and Hammy are dumping real money into buying bitcoins to get rich right?
lol like it takes speculating in a currency to observe 5 years of "hilarious", oblivious non-jokes about line graphs by people who were completely wrong

Jeffrey of YOSPOS
Dec 22, 2005

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just kidding guys.....buttcoins am I right? 5 more years!

Jeffrey of YOSPOS
Dec 22, 2005

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Zo posted:

i can't really tell if goons really believe the "you can't cash out bitcoins" meme or if they're just desperately holding onto that thought to avoid the truth of having missed out on free money
It's funny because they post the line graph monument to their idiocy and drop dank memes like "to the moon!!!" instead of hoping people quietly forget about their embarrassing 5-year series of increasingly dogmatic mispredictions.

Jeffrey of YOSPOS
Dec 22, 2005

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Slanderer posted:

sounds like a great time to invest, then. how many btc are you in for?

I've gotta sell off some of this xbox one ram first but I'm really fat and lazy from all these doobie dogs!!!

Jeffrey of YOSPOS
Dec 22, 2005

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COMRADES posted:

The problem is so many exchanges and whatnot have either been shut down or robbed or stole from their customers outright so unless you just have your own secure wallet (and kept the passwords for it for years) odds are good your BTC stash would have disappeared at some point between now and the last several years.

this is the refrain of goons who made 100% wrong predictions over and over for years fleetingly trying to hold on to the thought that maybe they didn't miss out because of their "lmfao the money is computer" groupthink

Jeffrey of YOSPOS
Dec 22, 2005

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don't forget epic responses like "oh yeah how many xbox ones do you own???"

Jeffrey of YOSPOS
Dec 22, 2005

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Where are the sells if it's a wash trade?

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Jeffrey of YOSPOS
Dec 22, 2005

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Stefan Prodan posted:

Also you know if someone says "I think there's an 80% chance this crashes this year" and it doesn't, that doesn't prove them wrong, right?

But it is evidence that they're wrong, and when it happens every year for a decade, wrongness seems to be the most likely outcome.

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