Powershift posted:

Did you not see their audit?

QuarkJets posted:

So I was reading about the legislation that led to Coinbase and basically all of the other exchanges blocking Hawaii residents from having accounts, and the requirements actually seem pretty reasonable: they have to have enough cash (USD) on hand to cover any cryptocurrencies held on that exchange by Hawaii residents. Presumably they should already be practicing some sort of fractional reserve banking in case a ton of people want to withdraw all at once, but Hawaii is one of the least populous US states, so presumably covering that few people should be easy to accomplish even with a really risky reserve like 1%. The key here is that they're only required to hold 100% reserve for Hawaii residents, so in practice that'd be comparable to something like a 0.5% reserve overall

As a point of reference, US banks are required to keep a 10% fractional reserve. But that's apparently way more (like at least an order of magnitude more) than any cryptocurrency exchange is willing to meet.

Does this suggest that Coinbase actually has much smaller cash reserves than anyone realizes?

Big K of Justice posted:

It's a poo poo show to liquidate a large amount at once as a bunch of friends and idiots I know found out recently. They assumed it would be just as easy to sell as it is to buy, eg. just hit sell and it'll be cashed out in milliseconds like a real stock exchange except nope.. it can take a few business days to get the money, and then it's via bank transfer/whatever.

A friend wound up selling about $18,000 "worth" of bitcoins for $12,000 cash outside the exchanges. He figured he would be hit with capital gains with the difference anyway, and that's when he realized that was how people were really making money with btc.

100 HOGS AGREE posted:

I just checked my email and found this little gem:

Pochoclo posted:

At this point expect any company in its death throes to suddenly announce "BLOCKCHAIN!!!" to get some free idiotsmart money

Genderfluent posted:

NO OFFICER! CHEKC THE BLOCKCHAIN

Nessus posted:

Even if we grant that these problems are more due to incompetence than the dark paw of Tibanne, it sounds like it's a pretty widespread problem. Then again, it is being protectively cloaked by this attitude, so the music can play a little while longer.

Party Boat posted:

I love that actual gold rush tactics are working on internet gold

Sten Freak posted:

https://techcrunch.com/2018/01/10/overstock-and-coinbase-briefly-mixed-up-bitcoin-and-bitcoin-cash/

whoopsie

Goodpancakes posted:

The fun part was that if you cancelled the order after paying in bcash you would be refunded in BTC. 85% discount on BTC

100 HOGS AGREE posted:

https://twitter.com/bccponzi/status/951210220096802816

Ham Sandwiches posted:

you see 2FA stands for 2 factor authentication but instead the shoeshine boy (this burn is coming to you from the 80s) thought it was a tip on a cryptocurrency / ICO and wanted to buy it

Sentient Data posted:

Dudes stop with the money dick measuring and post more stuff like this

Comfy Fleece Sweater posted:

Excellent reinforcement as to why and hold. We need to keep our eyes out for the *big prize*. I believe this is a lifetime opportunity, and those of us who missed getting in early with bitcoin, have another chance.

Imagine how much tenacity it took for holders of bitcoin to get through to this place where the rewards have been so tremendous. Crypto is the new ticket. Small dollars downside risk, thousands to the upside reward. This could be the opportunity to set your self up for the rest of your life. Forget the lottery. Crypto is the ticket to buy.

QuarkJets posted:

lol apparently his alias was Coolio

jonathan posted:

I highly doubt he was satoshi and never claimed that. But the timeline of when he was talking about the project jives with my theory that he helped or contributed to the original design. When they started to become accepted for buying drugs he pretty much considered the project a success.

But then his crazy girlfriend wanted to get them both thrown in jail so he killed himself via overdose.

His name was Dennis Moran.

Sentient Data posted:

The gf was actually CARLA MARK FORCE IV

Some classic lols for the newer people: https://www.bloomberg.com/view/articles/2015-03-30/bitcoin-secret-agents-were-pirates-themselves

Moxxis Endowment posted:

drat, that guy really hated his wife.

QuarkJets posted:

Dennis Moran is a very bitcoin name and that second link has a very bitcoin picture of him, so in my head canon that makes him the most likely candidate for the true identity of Satoshi

The father of cryptocurrency:


The words on his headstone:

Ccs posted:

https://www.nytimes.com/2018/01/13/style/bitcoin-millionaires.html


So how does moving to Puerto Rico, which is a US territory, allow them not to pay US taxes?
Also doesn't he know that Atlantis, yknow, sunk?

Alpha Mayo posted:

A libertarian modern day Atlantis. Isn't that the plot to Bioshock?

Comfy Fleece Sweater posted:

Coinbase is not your only option if you want to legitimately buy Bitcoin, Ethereum or Litecoin, at the moment it is the most well known due to their marketing efforts, however that does not mean that other options are not available.

Below are some of the other well known sites that allow you to purchase Bitcoin, Ethereum and Litecoin.

Global Exchanges:

CEX - You can buy Bitcoin and Ethereum instantly. Supports all countries worldwide and verification is fast and simple.

You can also buy and sell up to 10 Bitcoins or 200 Ethereum per order and the fees are lower than most of the other exchanges I have tried.

Verified accounts can deposit/withdraw up to $10,000 worth per day, or up to $100,000 per month via both credit card and bank transfer, at higher verification levels all limits are removed.

At one point they had to temporarily stop user registrations due to the rapid influx of new users.

Coinmama - This is a good site to buy Bitcoins and Ethereum instantly with a debit or credit card.

Accounts verified with a passport can buy $10,000 worth, accounts verified with 2 forms of ID can buy $50,000 worth and accounts with Level 3 verification and above have no limits. This site supports all countries worldwide.

European based exchange:

BitPanda - If you live in Europe this is the best option hands down, you can buy and sell Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash instantly and Gold verification only takes about 10 minutes - this exchange is only available for European customers at the moment but it is a really excellent exchange.

Gold verification allows you to buy 10,000 Euros (£9,245) worth of cryptocurrency a day and sell up to 15,000 Euros (£13,860) worth which will come in handy when you need to cash out.

So as you can see, Coinbase is not the only option, it is only the most well known but there are other, long established exchanges out there that allow people to purchase cryptocurrencies with cash.

Comfy Fleece Sweater posted:

Coinbase is not your only option if you want to legitimately buy Bitcoin, Ethereum or Litecoin, at the moment it is the most well known due to their marketing efforts, however that does not mean that other options are not available.

Below are some of the other well known sites that allow you to purchase Bitcoin, Ethereum and Litecoin.

Global Exchanges:

CEX - You can buy Bitcoin and Ethereum instantly. Supports all countries worldwide and verification is fast and simple.

You can also buy and sell up to 10 Bitcoins or 200 Ethereum per order and the fees are lower than most of the other exchanges I have tried.

Verified accounts can deposit/withdraw up to $10,000 worth per day, or up to $100,000 per month via both credit card and bank transfer, at higher verification levels all limits are removed.

At one point they had to temporarily stop user registrations due to the rapid influx of new users.

Coinmama - This is a good site to buy Bitcoins and Ethereum instantly with a debit or credit card.

Accounts verified with a passport can buy $10,000 worth, accounts verified with 2 forms of ID can buy $50,000 worth and accounts with Level 3 verification and above have no limits. This site supports all countries worldwide.

European based exchange:

BitPanda - If you live in Europe this is the best option hands down, you can buy and sell Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash instantly and Gold verification only takes about 10 minutes - this exchange is only available for European customers at the moment but it is a really excellent exchange.

Gold verification allows you to buy 10,000 Euros (£9,245) worth of cryptocurrency a day and sell up to 15,000 Euros (£13,860) worth which will come in handy when you need to cash out.

So as you can see, Coinbase is not the only option, it is only the most well known but there are other, long established exchanges out there that allow people to purchase cryptocurrencies with cash.

new gf she a gamer posted:

let it mellow posted:

has anyone actually made buttcoin yet

quote:

/r/allCurrent Bitcoin Sentiment. (i.redd.it)

submitted 10 hours ago by pg3cryptoredditor for 3 months

paternity suitor posted:

I like a market that trades 24 hours. It’s the future. Sleep is for no coiners.

turn off the TV posted:

this can't be real

ghosTTy posted:

my coins are worrth what they were worth 2 weeks ago this is a disaster

Jebediah posted:

I have a coworker yelling at me to buy Ripple (XRP) immediately. Why should I/shouldn't I goons? I have extra to blow

Uranium 235 posted:

today was my most profitable day so far this year

Horseshoe theory posted:

So basically Tether are hedge funds in terms of redemption restrictions? Cool.

Burt Sexual posted:

Seriously? 5 threads and this?

Uranium 235 posted:

nah, i can't on the exchange i use. i made most of it on the bounces from the lows and from scalping volatility/thin order book with really small positions for $10 moves (about 1%). even though my positions were small, they added up fast because of how fast and reliable those scalps were. i played this pretty conservatively but still ended up with a very profitable day

ghosTTy posted:

Uranium 235 posted:

all women are replaced by bitcoins

VictorianQueerLit posted:

I saw this work for ten years in EVE Online and I'm still somehow surprised people fall for it.

I guess fortunately for most people trying to run recruitment or contract scams would probably actually be illegal with real money.