BitCoin
February 6th, 2021 at 4:34:20 PM
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I can
Confirm that the
Usdc rate is
Ten percent annual, paid daily
Do it!
Cinquain aside, this plan is good
Nexo really pays out that much
My eighty/twenty split between
Usdc and nexo token
Cashflows against student loan debts
That I could otherwise pay off
Confirm that the
Usdc rate is
Ten percent annual, paid daily
Do it!
Cinquain aside, this plan is good
Nexo really pays out that much
My eighty/twenty split between
Usdc and nexo token
Cashflows against student loan debts
That I could otherwise pay off
"So as the clock ticked and the day passed, opportunity met preparation, and luck happened." - Maurice Clarett
February 6th, 2021 at 6:33:30 PM
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Quote: rdw4potusI can
Confirm that the
Usdc rate is
Ten percent annual, paid daily
Do it!
Cinquain aside, this plan is good
Nexo really pays out that much
My eighty/twenty split between
Usdc and nexo token
Cashflows against student loan debts
That I could otherwise pay off
Where do you stake it at?
All animals are equal, but some are more equal than others
February 6th, 2021 at 6:50:37 PM
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You say "the" rate as though it's universal. But of course it depends on where you hold your USDC. Thirty-day rates range from 0-13.99%.Quote: rdw4potusI can confirm that the Usdc rate is ten percent annual, paid daily. Do it!
I run Easy Vegas ( https://easy.vegas )
February 6th, 2021 at 7:48:03 PM
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Quote: MichaelBluejayYou say "the" rate as though it's universal. But of course it depends on where you hold your USDC. Thirty-day rates range from 0-13.99%.Quote: rdw4potusI can confirm that the Usdc rate is ten percent annual, paid daily. Do it!
I hold everything in my nexo app
Nice interface, fast exchange page
(though that's brand new) can't wait for their card
I use bitpay's debit card now
I'd stop that if nexo card came.
"So as the clock ticked and the day passed, opportunity met preparation, and luck happened." - Maurice Clarett
February 7th, 2021 at 2:39:55 AM
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Quote: rdw4potusI can Confirm that the Usdc rate is Ten percent annual, paid daily
Do it!
Cinquain aside, this plan is good Nexo really pays out that much My eighty/twenty split between Usdc and nexo token
Cashflows against student loan debts That I could otherwise pay off
Interesting stuff. Way beyond my understanding, and I never realised we had such expertise here.
Perhaps a few of the experts would Blog this or make an article? Or, for now, help convince me that there is not an ocean full of predators operating exit scams and ponzi schemes wrapped up in crypto terminology.
So, let's see if I have just one example correct:-
Starting with some USD borrowed in Fiat markets at say 3%, I could buy some crypto-currency tokens called USDC at a 1 for $1 price?
so far so good?
I lodge those USDC with a 'provider' called Nexo and they agree to pay me 10% pa in USDC, paying me daily or monthly? ( does it matter?)
Each month, I potentially exchange part of my interest received in USDC back to USD and 'offramp' those to my bank.
I pay off some of my borrowed USD fiat debt.
At the end of the year, I have no debt, but I have residual USDC tokens, which have a value something like 10-3%=7% of my original USD loan.
Now, before I do this, I realise how lucrative it will be and I make that USD fiat loan as massive as possible. Nothing can go wrong.*
All operated with easy, mobile apps or web pages.
And in all this 'value creation' there's no alarm bells ringing in the heads of the investors?
Is my understanding of the process anything like correct? If not, please enlighten me.
* Well I can see one tiny risk. It's not sustainable and at any moment, my investment can vanish into an exit scam along with some app developer and I get left with the debt of my original loan.
I won't be doing it. If it sounds too good to be true. It's not true.
Here's a link to Nexo. It's not an endorsement or recomendation and I wouldn't touch it with your barge pole
Psalm 25:16
Turn to me and be gracious to me, for I am lonely and afflicted.
Proverbs 18:2
A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
February 7th, 2021 at 3:11:44 AM
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Quote: OnceDear
I lodge those USDC with a 'provider' called Nexo and they agree to pay me 10% pa in USDC, paying me daily or monthly? ( does it matter?)
If you are compounding of course it matters. On an amount any person here will invest not a ton, but it will add up.
Where are those 0% credit card offers?!
All animals are equal, but some are more equal than others
February 7th, 2021 at 4:04:07 AM
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I have invested in a private equity thingie that ‘guarantees’ me 14%. Probably the same ‘guarantee’ of this 10% crypto plan. It’s a guarantee ..... until it isn’t.
February 7th, 2021 at 4:07:22 AM
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I don't wish to go into a side squabble with you AZD, but I do know how compounding works. If annual rate is I and the monthly rate is treated as I/12, then we'd all jump at monthly payment and reinvest to get our effective interest rate ofQuote: AZDuffmanIf you are compounding of course it matters. On an amount any person here will invest not a ton, but it will add up.
AER = 100*((((100+I/12)/100)^12)-1)
The 'provider will have determined the stated value of I, knowing that formula.
If they offer two otherwise identical products, one offering yearly interest and the other paying daily interest and allowing it to compound, they would generally offer a lower interest rate (I) on the latter product.
That's why, of course, it does not matter, one jot and it will not 'add up'
Last edited by: OnceDear on Feb 7, 2021
Psalm 25:16
Turn to me and be gracious to me, for I am lonely and afflicted.
Proverbs 18:2
A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
February 7th, 2021 at 5:29:58 AM
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Quote: OnceDear
The 'provider will have determined the stated value of I, knowing that formula.
If they offer two otherwise identical products, one offering yearly interest and the other paying daily interest and allowing it to compound, they would generally offer a lower interest rate (I) on the latter product.
You do not want to squabble but you change the parameters? Yes, places might offer a lower rate of interest when compounded daily or even continuous it the even do that anymore. My point is it does matter what the compounding period is, and you agree, until you did not.....
All animals are equal, but some are more equal than others
February 7th, 2021 at 5:44:04 AM
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Your take seems correct. It could be "sustainable" for a while since relatively few people are into crypto so there's still lots of new money pouring in, and it'll probably be a while because that peters out.Quote: OnceDearSo, let's see if I have just one example correct...
Yes, there's no guarantee that the exchange holding your coins won't get hacked, go bankrupt, or pull an exit scam. To avoid an all-my-Egg-Replacer®-in-one-basket situation, I split my crypto among three different exchanges, a mobile wallet, and a paper wallet. If my coin disappears from one exchange then I haven't lost it all.
I run Easy Vegas ( https://easy.vegas )
February 7th, 2021 at 9:21:08 AM
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just as a reminder......
For those who listened to Bob and didn't invest 1k at the time, no worries, it only cost you about 200k.Quote: EvenBobBitcoins are like collector Elvis plates. There's a limited
number made and they go up in value till they hit a
plateau. They're only worth the price because the
demand sets the price. If collectors lose interest,
prices plummet.
Just think Beanie Babies. Remember those?
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
February 7th, 2021 at 9:27:56 AM
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Trading stocks that hit new ATHs regularly is one thing, but trying to trade crypto must be as hard as trading forex or currencies.
Or commodities.
I know a trader who bought in at around 38K, sold at a loss, and now he's trade/invested into alt coins where he is down.
Best to just hodl. And stick to BTC only. That sum I received from the client around 38K was higher, now it's lower, so what? Eventually it will all pan out.
Or commodities.
I know a trader who bought in at around 38K, sold at a loss, and now he's trade/invested into alt coins where he is down.
Best to just hodl. And stick to BTC only. That sum I received from the client around 38K was higher, now it's lower, so what? Eventually it will all pan out.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 7th, 2021 at 9:47:23 AM
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I know a trader who claimed he bought lots of bitcoin back in 2010 when it was around 8 cents a share. He has been holding AND buying more every since. He also has millions invested in things like Amazon and Tesla. He must be aQuote: MDawgTrading stocks that hit new ATHs regularly is one thing, but trying to trade crypto must be as hard as trading forex or currencies.
Or commodities.
I know a trader who bought in at around 38K, sold at a loss, and now he's trade/invested into alt coins where he is down.
Best to just hodl. And stick to BTC only. That sum I received from the client around 38K was higher, now it's lower, so what? Eventually it will all pan out.
cabillionaire by now. I assume he's off living the good life on some tropical island surrounded by a mob of hotties.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
February 7th, 2021 at 9:49:51 AM
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I don't trade crypto. I have never bought (or bough) any BTC ever.
If you're going to allude to me, at least take the time to read and get it right.
If you're going to allude to me, at least take the time to read and get it right.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 7th, 2021 at 9:54:30 AM
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O' really, you never claimed to have bought any bitcoin?Quote: MDawgI don't trade crypto. I have never bought (or bough) any BTC ever.
If you're going to allude to me, at least take the time to read and get it right.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
February 7th, 2021 at 9:59:41 AM
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Go back and read my story, then comment on it. Which is part of why you get so much wrong - you're just commenting without knowing what the story even is. If you don't have the time to read something why comment on it.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 7th, 2021 at 10:06:31 AM
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Again, I ask... are you claiming you have never said that you bought bitcoin? Either you have said that or you haven't said that. It's a yes or no answer.Quote: MDawgGo back and read my story, then comment on it. Which is part of why you get so much wrong - you're just commenting without knowing what the story even is. If you don't have the time to read something why comment on it.
I know you rambled on about your clients paying you in bitcoin. Were they paying you with bitcoin back in 2010?
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
February 7th, 2021 at 10:24:52 AM
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One thing you and KewlJ and DarkOz do, is constantly mischaracterize, mis-summarize and often get flat wrong wrong what I have said. In your case I believe it stems from not even reading what I wrote.
For one, you seem obsessed with assigning a specific dollar amount or value to whatever I have mentioned. I'm deliberately not trying to make any such net worth claims. You seem obsessed with all that.
Yes, I do give specific dollar amounts for how much I won the prior year in the casinos, but I back it up with the win statements, and those particular numbers are relevant to the trip reports. And yes, I post specific stock trades. But anything else, you just speculate on and if I wanted to state a specific net worth I would have long ago. Obviously if I wanted to claim to be a "cabillionaire," as you put it, I'd just say it. I am not interested in claiming anything like that.
And saying that someone
I view as a personal insult, three forum rules you appear to have broken on day one of your return.
Just want to show how clear it is, who is the troll, and who breaks forum rules right and left, as It is not I.
For one, you seem obsessed with assigning a specific dollar amount or value to whatever I have mentioned. I'm deliberately not trying to make any such net worth claims. You seem obsessed with all that.
Yes, I do give specific dollar amounts for how much I won the prior year in the casinos, but I back it up with the win statements, and those particular numbers are relevant to the trip reports. And yes, I post specific stock trades. But anything else, you just speculate on and if I wanted to state a specific net worth I would have long ago. Obviously if I wanted to claim to be a "cabillionaire," as you put it, I'd just say it. I am not interested in claiming anything like that.
And saying that someone
Quote: AxelWolframbled on
I view as a personal insult, three forum rules you appear to have broken on day one of your return.
Just want to show how clear it is, who is the troll, and who breaks forum rules right and left, as It is not I.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 7th, 2021 at 10:43:31 AM
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Perhaps we need a new rule, #234, or whatever we are up to.
No incessant whining. Let the mods do their jobs. It's why they make the big bucks.
No incessant whining. Let the mods do their jobs. It's why they make the big bucks.
The older I get, the better I recall things that never happened
February 7th, 2021 at 10:45:45 AM
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You didn't quote my entire sentence. Didn't you just get suspended for that? You still didn't answer the question.. let me ask again. Are you still claiming you have never said that you have bought bitcoin?Quote: MDawgOne thing you and KewlJ and DarkOz do, is constantly mischaracterize, mis-summarize and often get flat wrong wrong what I have said. In your case I believe it stems from not even reading what I wrote.
For one, you seem obsessed with assigning a specific dollar amount or value to whatever I have mentioned. I'm deliberately not trying to make any such net worth claims. You seem obsessed with all that.
Yes, I do give specific dollar amounts for how much I won the prior year in the casinos, but I back it up with the win statements, and those particular numbers are relevant to the trip reports. And yes, I post specific stock trades. But anything else, you just speculate on and if I wanted to state a specific net worth I would have long ago. Obviously if I wanted to claim to be a "cabillionaire," as you put it, I'd just say it. I am not interested in claiming anything like that.
And saying that someone
I view as a personal insult, three forum rules you appear to have broken on day one of your return.
Just want to show how clear it is, who is the troll, and who breaks forum rules right and left, as It is not I.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
February 7th, 2021 at 1:38:31 PM
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and we pick up right where we left off
50-50-90 Rule: Anytime you have a 50-50 chance of getting something right, there is a 90% probability you'll get it wrong
February 8th, 2021 at 5:31:59 AM
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I laid down for 40 minutes and woke up to an all time high, 10% over when I laid down????
All animals are equal, but some are more equal than others
February 8th, 2021 at 5:53:41 AM
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Quote: AZDuffmanI laid down for 40 minutes and woke up to an all time high, 10% over when I laid down????
Tesla related they disclosed they bought a bunch of it and will accept payment by it.
February 8th, 2021 at 5:55:09 AM
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Quote: mcallister3200Tesla related they disclosed they bought a bunch of it and will accept payment by it.
Within the past hour?
Sweet. Hate TSLA stock but I'll take the gain.
All animals are equal, but some are more equal than others
February 8th, 2021 at 5:58:43 AM
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Quote: AZDuffmanWithin the past hour?
Sweet. Hate TSLA stock but I'll take the gain.
Idk the exact timing. Saw a tweet on my timeline from about 56 minutes ago. They bought 1.5 billion of it.
February 8th, 2021 at 6:05:55 AM
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Quote: mcallister3200Idk the exact timing. Saw a tweet on my timeline from about 56 minutes ago. They bought 1.5 billion of it.
I'm not calling you a liar or being negative. More saying I take a eyeball rest before a day of work and wake up to it.
FIFW talking heads were saying that it would pop after 2/4. It is 2/8 and pops.
All animals are equal, but some are more equal than others
February 8th, 2021 at 6:18:52 AM
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I don’t really care the reason or if it goes up really. Hard for me to believe it’s not a pretty decent factor in it. A large percentage of smaller BTC and Tesla owners are going to be speculative/trend buyers, and the Tesla news spreading would likely cause many of them to buy more btc, so whether or not the announcement was an hour or three hours ago would be a factor probably in both prices (first ath and then an hour later.)
I’m not really an “individual stock” buyer for a grain of salt it’s just what I see as logical, if I were to buy btc it would be for gambling purposes. I just do the etf, ira stuff.
I’m not really an “individual stock” buyer for a grain of salt it’s just what I see as logical, if I were to buy btc it would be for gambling purposes. I just do the etf, ira stuff.
February 8th, 2021 at 11:51:18 AM
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Theses companies are slowly forcing their competitors to buy Bitcoin also.....
February 8th, 2021 at 12:18:24 PM
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BTC's price is making things
hard for payment processors now
Twenty five thousand dollars is
the transaction cap at most firms
it's weird when that's less than one coin.
you'd think efficiency would push
the market to a one coin cap
don't fractions create rounding loss?
Like office space but with fake funds.
hard for payment processors now
Twenty five thousand dollars is
the transaction cap at most firms
it's weird when that's less than one coin.
you'd think efficiency would push
the market to a one coin cap
don't fractions create rounding loss?
Like office space but with fake funds.
"So as the clock ticked and the day passed, opportunity met preparation, and luck happened." - Maurice Clarett
February 8th, 2021 at 7:53:34 PM
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Is it time for a bitcoin split?
The older I get, the better I recall things that never happened
February 8th, 2021 at 10:19:53 PM
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Estimated halving date:1126 daysQuote: billryanIs it time for a bitcoin split?
17 hours
44 minutes
March 12, 2024
Current BTC price: 47,131.70 United States Dollar.
According to Bob BTC is like the beanie babies craze.
I wonder if Elon Musk invested in beanie babies too?
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
February 9th, 2021 at 1:01:29 AM
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Quote: AxelWolf
According to Bob BTC is like the beanie babies craze.
What goes up so fast can
and usually does go down just
as fast. I was there during
the BB craze, it was insane.
BC is just as insane. If I had
any I'd be selling and heading
for the hills.
"It's not called gambling if the math is on your side."
February 9th, 2021 at 1:06:10 AM
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Btc will come back down to earth, it can’t maintain this rapid growth. I expect to see high 30’s again in the not too distant future followed by growth again. This growth is spiked by the Elon musk announcement.
You can shear a sheep a hundred times, but you can skin it only once. — Amarillo Slim Preston
February 9th, 2021 at 7:08:26 AM
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Is a Bitcoin split even possible? I would think with the limited number of coins that they couldn't do it.
At my age, a "Life In Prison" sentence is not much of a deterrent.
February 9th, 2021 at 7:51:57 AM
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Quote: DRichIs a Bitcoin split even possible? I would think with the limited number of coins that they couldn't do it.
It is not necessary. Since it is tradable in fractions there is zero reason to even attempt a ‘split’. If it was $1trillion per BTC but you could trade it in trillionths it is the same as a dollar.
February 9th, 2021 at 8:18:50 AM
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When a stock splits, it is by a conscious decision by the board of the company. When this happens the stock flies - as you know Soopoo (TSLA) - more due to emotions, which are what run the stock market anyway, than anything concrete.
With bitcoin it's called halving. And it's not done by conscious decision, but more to do with mathematics. I don't really understand why it happens or a whole lot about it, but BTC halving has something to do with that it becomes twice as hard for miners to mine bitcoin. When these halvings approach, people assume that bitcoin will go up, but that hasn't always been the case, at least not immediately. I don't even know what it had to do with, but I do know that around the middle of 2017, I logged into my main wallet and I had a BCH (bitcoin cash) for most of my BTC. I'm not sure why I didn't get it 1:1 for every BTC, but I believe it had something to do with when I received the BTC or some such.
Okay so here's a question for those with hard wallets: in 2017, did you get BCH for all (or most) of your BTC? Just wondering if the type of wallet had anything to do with it. I assume not, but just asking.
As far as BTC dropping back to the 30K level or so, a friend of mine (who has been consistently wrong about both BTC and TSLA) says the same as PokerGrinder, which actually would make me think that it will not do that. When it comes to prognostications, I look at the person first, then his track record, and in some cases both provide reasons to ignore.
I had this one friend who was so bad at prognostications that you could practically always go against whatever he predicted. Such friends are as useful as those who are always right.
With bitcoin it's called halving. And it's not done by conscious decision, but more to do with mathematics. I don't really understand why it happens or a whole lot about it, but BTC halving has something to do with that it becomes twice as hard for miners to mine bitcoin. When these halvings approach, people assume that bitcoin will go up, but that hasn't always been the case, at least not immediately. I don't even know what it had to do with, but I do know that around the middle of 2017, I logged into my main wallet and I had a BCH (bitcoin cash) for most of my BTC. I'm not sure why I didn't get it 1:1 for every BTC, but I believe it had something to do with when I received the BTC or some such.
Okay so here's a question for those with hard wallets: in 2017, did you get BCH for all (or most) of your BTC? Just wondering if the type of wallet had anything to do with it. I assume not, but just asking.
As far as BTC dropping back to the 30K level or so, a friend of mine (who has been consistently wrong about both BTC and TSLA) says the same as PokerGrinder, which actually would make me think that it will not do that. When it comes to prognostications, I look at the person first, then his track record, and in some cases both provide reasons to ignore.
I had this one friend who was so bad at prognostications that you could practically always go against whatever he predicted. Such friends are as useful as those who are always right.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 9th, 2021 at 8:25:17 AM
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Earlier today when BTC hit $48k I texted my son imploring him to sell 1/4 BTC. ( He owns 1/2BTC). He responded I’ve been wrong every time I’ve told him to sell. I responded that if he sells at $48k he can re buy at some lower point and still have 1/2 BTC plus some cash. Like if he rebuys at $44k that’s $1k in his pocket. If it NEVER goes down that low again he has $12k in cash, plus still has 1/4 BTC which has gone up more.
February 9th, 2021 at 8:28:43 AM
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If he's way out of the park the way I am, who cares?
Market timing doesn't work with stocks, why would it work with bitcoin?
As well, I'd never trade bitcoin, which I view as something like Forex or currency trading which I also view as too risky. Hodl all the way!
And yes, see, once you establish a track record of being "wrong," people stop listening to you. 😄
Market timing doesn't work with stocks, why would it work with bitcoin?
As well, I'd never trade bitcoin, which I view as something like Forex or currency trading which I also view as too risky. Hodl all the way!
And yes, see, once you establish a track record of being "wrong," people stop listening to you. 😄
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 9th, 2021 at 8:40:53 AM
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Quote: SOOPOOEarlier today when BTC hit $48k I texted my son imploring him to sell 1/4 BTC. ( He owns 1/2BTC). He responded I’ve been wrong every time I’ve told him to sell. I responded that if he sells at $48k he can re buy at some lower point and still have 1/2 BTC plus some cash. Like if he rebuys at $44k that’s $1k in his pocket. If it NEVER goes down that low again he has $12k in cash, plus still has 1/4 BTC which has gone up more.
Tell him to put in a stop loss to trade to a stable coin if it goes down to say $44000. The thing at the moment is the big boys are playing in the sandbox. Based on past history thus run should go to $240000-300000. If it pulls back from a high it seems to pull back 20% then goes back up. By the end of the cycle it is down 80% from the high but it goes up about 20Xs the previous cycle high in each halving cycle.
If it hits $2MM the conversation will go like this:
"Gotta give my notice, boss."
"Why?"
"Did you see the $2MM high for BTC?"
"Yeah"
"Need I say more?"
All animals are equal, but some are more equal than others
February 9th, 2021 at 9:17:14 AM
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Quote: MDawgWhen a stock splits, it is by a conscious decision by the board of the company. When this happens the stock flies - as you know Soopoo (TSLA) - more due to emotions, which are what run the stock market anyway, than anything concrete.
With bitcoin it's called halving.
I fail to see the similarity between a stock split and a Bitcoin halving, and I hope MDawg will explain this to us.
Stock split: More units of that stock in issue with proportionately lower nominal value.
BTC halving: Reward to BTC miners reduced by 50%. NO CHANGE in number of BTC in issue and no change in BTC nominal value.
That surprises me.Quote:I don't really understand why it happens or a whole lot about it
Now this shocks me on so many levels. Why would you find a new balance of BitCoinCash. Where does BitCoinCash even enter into the situation? That sounds like a very mysterious event indeed.Quote:I don't even know what it had to do with, but I do know that around the middle of 2017, I logged into my main wallet and I had a BCH (bitcoin cash) for most of my BTC. I'm not sure why I didn't get it 1:1 for every BTC, but I believe it had something to do with when I received the BTC or some such.
Hell no!. BCH simply does not have anything to do with a holding of BitCoin.Quote:Okay so here's a question for those with hard wallets: in 2017, did you get BCH for all (or most) of your BTC? Just wondering if the type of wallet had anything to do with it. I assume not, but just asking.
Psalm 25:16
Turn to me and be gracious to me, for I am lonely and afflicted.
Proverbs 18:2
A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
February 9th, 2021 at 9:19:16 AM
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At least with PokerGrinder many of us know for certain he has actually been buying BTC. It's not just a bunch of unsubstantiated claims made on a forum. I know I have sold him thousands in BTC myself, I know others who have been selling him BTC as well.Quote: MDawg
As far as BTC dropping back to the 30K level or so, a friend of mine (who has been consistently wrong about both BTC and TSLA) says the same as PokerGrinder, which actually would make me think that it will not do that. When it comes to prognostications, I look at the person first, then his track record, and in some cases both provide reasons to ignore.
I don't really understand what he's doing with it all(sounded sketchy AF to me).
No doubt his traveling shenanigan's finally caught up to him and he's being blackmailed where he has to pay in BTC .😉
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
February 9th, 2021 at 9:30:59 AM
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re: AW discussing PG: There's often no bond for that sort of thing these days so best not to talk further about it.
You're wrong there. Sometime in 2017, I got practically one free BCH for every BTC I was holding. I am not sure why it wasn't exactly 1:1, but it was close. Had something to do with some kind of fork.
Seriously, one day I just logged in, and it was there. Now, that is one thing I wish I HAD sold back then, because BCH was briefly worth some insane amount above three grand each as I recall.
As far as stock splitting and bitcoin halving, do you read what I write or just glance at it? I was saying that they are dissimilar.
What's interesting is how adamant some people are about things with which they have no personal experience. Such as saying that holding BTC has nothing to do with BCH. I guess you had to have been holding BTC prior to 2017 to get the free BCH must be the case. On the other hand, I freely admit I don't even know how bitcoin exactly works, and yet I have a gang of it, and I knew enough (or didn't know enough) to just hodl it and not think further on it....
Quote: OnceDearBCH simply does not have anything to do with a holding of BitCoin.
You're wrong there. Sometime in 2017, I got practically one free BCH for every BTC I was holding. I am not sure why it wasn't exactly 1:1, but it was close. Had something to do with some kind of fork.
Seriously, one day I just logged in, and it was there. Now, that is one thing I wish I HAD sold back then, because BCH was briefly worth some insane amount above three grand each as I recall.
As far as stock splitting and bitcoin halving, do you read what I write or just glance at it? I was saying that they are dissimilar.
What's interesting is how adamant some people are about things with which they have no personal experience. Such as saying that holding BTC has nothing to do with BCH. I guess you had to have been holding BTC prior to 2017 to get the free BCH must be the case. On the other hand, I freely admit I don't even know how bitcoin exactly works, and yet I have a gang of it, and I knew enough (or didn't know enough) to just hodl it and not think further on it....
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 9th, 2021 at 10:11:26 AM
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Quote: MDawgre: AW discussing PG: There's often no bond for that sort of thing these days so best not to talk further about it.
You're wrong there. Sometime in 2017, I got practically one free BCH for every BTC I was holding. I am not sure why it wasn't exactly 1:1, but it was close. Had something to do with some kind of fork.
Seriously, one day I just logged in, and it was there. Now, that is one thing I wish I HAD sold back then, because BCH was briefly worth some insane amount above three grand each as I recall.
As far as stock splitting and bitcoin halving, do you read what I write or just glance at it? I was saying that they are dissimilar.
What's interesting is how adamant some people are about things with which they have no personal experience. Such as saying that holding BTC has nothing to do with BCH. I guess you had to have been holding BTC prior to 2017 to get the free BCH must be the case. On the other hand, I freely admit I don't even know how bitcoin exactly works, and yet I have a gang of it, and I knew enough (or didn't know enough) to just hodl it and not think further on it....
Hmmmm I've researched the 2017 event. It was a fork, not a halving. The whole new currency BCH came into being at that time.
https://money.cnn.com/2017/08/01/technology/business/bitcoin-cash-new-currency/index.html
Psalm 25:16
Turn to me and be gracious to me, for I am lonely and afflicted.
Proverbs 18:2
A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
February 9th, 2021 at 10:47:58 AM
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Right. I didn't even notice for some time after it happened. Typically I just login to the hosted wallet, glance (the way you glance at my posts sometimes 🍻 it would seem) at the balance, create a new receive wallet for someone to send me crypto, and then log right back out.
Then one day towards the end of 2017, I was looking closely and I saw something new in there, the BCH. I then did some research and found out more about it, but being the greedy bastard that I am, I then tried to complain about why I didn't get 1:1 for every BTC. When I told my friends about the discrepancy they had no sympathy, saying that, so now you have _____ in bitcoin, and then out of the blue you now have ____ in bitcoin cash. No one wanted to hear my complaint about why I didn't get 1:1 free. As I recall, when I finally got an answer from the host, it had something to do with some kind of cut off after which any BTC received wouldn't receive the free BCH, or some such. Or it might've had to do with that it wasn't all in the right wallet. I do recall at one point transferring all of the little pieces of bitcoin (or maybe it was the bitcoin cash) I had received into one central wallet within the hosted wallet.
In any case, it was a free roll of BCH out of nowhere! But I still complained. A little. Not a lot.
Then one day towards the end of 2017, I was looking closely and I saw something new in there, the BCH. I then did some research and found out more about it, but being the greedy bastard that I am, I then tried to complain about why I didn't get 1:1 for every BTC. When I told my friends about the discrepancy they had no sympathy, saying that, so now you have _____ in bitcoin, and then out of the blue you now have ____ in bitcoin cash. No one wanted to hear my complaint about why I didn't get 1:1 free. As I recall, when I finally got an answer from the host, it had something to do with some kind of cut off after which any BTC received wouldn't receive the free BCH, or some such. Or it might've had to do with that it wasn't all in the right wallet. I do recall at one point transferring all of the little pieces of bitcoin (or maybe it was the bitcoin cash) I had received into one central wallet within the hosted wallet.
In any case, it was a free roll of BCH out of nowhere! But I still complained. A little. Not a lot.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 9th, 2021 at 11:12:38 AM
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One only has to go back and start reading from about page 58 and see who talks about things with which they have no personal experience. It's clear as day..Quote: MDawgare dissimilar.
What's interesting is how adamant some people are about things with which they have no personal experience.
I have stated before, I don't know nearly enough about BTC. I kind of get how it all works and I learn a little bit as times goes on. So, if I can tell when someone really doesn't have a clue.....
Last edited by: AxelWolf on Feb 9, 2021
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
February 9th, 2021 at 11:46:23 AM
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Welll...isn't that surprising. AxelWolf makes an appearance to worry about what others might have. Shocking.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 9th, 2021 at 12:50:29 PM
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Quote: MDawgI then did some research and found out more about it, but being the greedy bastard that I am, I then tried to complain about why I didn't get 1:1 for every BTC.
I can't do this in verse. So pausing that for a moment. How close were the numbers? Mining/recording and network fees would have been withheld from the received instrument. So you'd have slightly less BCH than BTC after the fork. And, BTC's price was really volatile when that was happening. So the USD value of the BTC could have been pretty far from the value of the BCH by the time you looked at your wallet.
Things like this are why I can't get behind BTC. Someone wants to give me interest to hold stablecoin in an insured account? OK, that's like banking but with real interest rates. Somebody wants me to ride the wave of BTC pricing? Nah, that's too much like buying a single-issue stock and if I really wanted to speculate I'd just do that instead. "I own GameStop" is much cooler than "I own fake coins!"
"So as the clock ticked and the day passed, opportunity met preparation, and luck happened." - Maurice Clarett
February 9th, 2021 at 2:13:24 PM
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I just logged back in to look and see if the wallet shows the exact date that I received the free BCH. It doesn't even show, I mean there is no record of such a transaction within my BCH history. However, I did find a gang of transactions all from around September 2017, where I transferred all of the individual BTC that was apparently being held in separate wallets (reflecting its arrival into the individual wallets I had created for each received transaction), into my main BTC wallet. Maybe at that time and before, at least with this particular host the way it did it, bitcoin was held in individual wallets. Nowadays it just all goes to the main wallet. Not sure if that had anything to do with this "missing" free BCH issue. I believe these "separate wallets" are/were called "imported bitcoin addresses" is what they are labeled as in my account as I looked back.
Anyway after I got over the elation over getting something (which by the time I even noticed it, was pretty valuable) for nothing, I looked closer and realized that I didn't get 1 BCH for each 1 BTC. It was off by a small percentage, but I think I later realized that this might have had to do with that the fork happened and I was issued the free BCH, and then I didn't even notice it for some months, and in the meantime had been steadily receiving more BTC, such that by the time I noticed the free BCH roll I had received enough additional BTC that was post-fork, and not eligible for the 1:1 freebie, as to show a discrepancy.
Anyway after I got over the elation over getting something (which by the time I even noticed it, was pretty valuable) for nothing, I looked closer and realized that I didn't get 1 BCH for each 1 BTC. It was off by a small percentage, but I think I later realized that this might have had to do with that the fork happened and I was issued the free BCH, and then I didn't even notice it for some months, and in the meantime had been steadily receiving more BTC, such that by the time I noticed the free BCH roll I had received enough additional BTC that was post-fork, and not eligible for the 1:1 freebie, as to show a discrepancy.
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 9th, 2021 at 2:27:27 PM
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I took my "Extended Public key" Xpub and typed it in to the blockchain explorer to see if it had a record of when exactly I received the free BCH, but the data that came up didn't make a lot of sense, as it listed transactions for June 2017, April 2017, March 2017, Feb 2017, for what appears to be BCH - which makes no sense as I didn't think it even existed yet those dates.
Luckily back then I wasn't using coinbase for anything yet, as from what I recall reading coinbase didn't even give its users the free BCH. I use coinbase for about nothing these days - they have always greedily required full SSN verification from day one (at least from around 2018, which is when I started using coinbase for smaller transactions), and who wants to do that? for anything other than smaller sums.
Actually the only reason I even opened a coinbase was because at that time still, my overseas hosted wallet didn't allow US residents to sell, but for a while now, they do, so if/when I do decide to sell, at least the option is there.
Luckily back then I wasn't using coinbase for anything yet, as from what I recall reading coinbase didn't even give its users the free BCH. I use coinbase for about nothing these days - they have always greedily required full SSN verification from day one (at least from around 2018, which is when I started using coinbase for smaller transactions), and who wants to do that? for anything other than smaller sums.
Actually the only reason I even opened a coinbase was because at that time still, my overseas hosted wallet didn't allow US residents to sell, but for a while now, they do, so if/when I do decide to sell, at least the option is there.
Last edited by: MDawg on Feb 9, 2021
I tell you it’s wonderful to be here, man. I don’t give a damn who wins or loses. It’s just wonderful to be here with you people.
https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
February 10th, 2021 at 2:08:01 AM
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Made the first interest payment on my Bitcoin collateral loan.
Month 1: Interest Paid 22.7 CEL Tokens ($137.56)
$25K Loan Proceeds used for -
ADA - 59,000 ($47,200)
ETH - 2.8 ($4998)
BNB - 36 ($5040)
Current Value: $57,238
Right now I could cash it all out, pay off the loan and have my original 2.3 BTC + about $30,000 profit for 1 month. Nah, let's gamble.
Month 1: Interest Paid 22.7 CEL Tokens ($137.56)
$25K Loan Proceeds used for -
ADA - 59,000 ($47,200)
ETH - 2.8 ($4998)
BNB - 36 ($5040)
Current Value: $57,238
Right now I could cash it all out, pay off the loan and have my original 2.3 BTC + about $30,000 profit for 1 month. Nah, let's gamble.
