Zuga
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Zuga
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January 29th, 2015 at 9:52:00 AM permalink
"If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap..." :

http://www.latestcasinobonuses.com/article/winklevoss-twins-support-bitcoin-industry
"All it takes for evil to prevail is for good people to do nothing "
DrawingDead
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January 29th, 2015 at 10:28:24 AM permalink
And if Lady GaGa said the moon was made of green cheese...

https://bitcoinaverage.com/charts#USD-averages-1y

Good luck with that.
Suck dope, watch TV, make up stuff, be somebody on the internet.
Romes
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January 29th, 2015 at 10:36:26 AM permalink
Quote: DrawingDead

And if Lady GaGa said the moon was made of green cheese...

https://bitcoinaverage.com/charts#USD-averages-1y

Good luck with that.


If the moon was made of spare ribs, would ya eat it?
If you were a hot dog, and you were starving, would you eat yourself?

...Oh, I thought we were posting SNL Harry Carry quotes =P. The problem with bitcoin is it more than likely won't stabilize anytime soon.
Playing it correctly means you've already won.
AxelWolf
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January 29th, 2015 at 10:37:04 AM permalink
We need a big solid company to embrace BC. Im thinking of getting some but they don't make it easy and I keep hearing it can be stolen somehow. I keep reading different things about BC but haven't any idea whats real and whats not. The only thing I do know is its unstable.
♪♪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♪♪
DrawingDead
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January 29th, 2015 at 10:51:07 AM permalink
I've seen a few tulips, er, bitcoins come and go. Mostly go. There is always a "next big thing that's totally different than all those other things" and always will be another coming along shortly. Watching $1,100 quickly become $200 has been a real amusing spectator sport, when it is someone else's "next big thing - you just don't understand - and don't call it tulips or beanie babies" money.

http://en.wikipedia.org/wiki/Tulip_mania (1619-22)

http://en.wikipedia.org/wiki/Extraordinary_Popular_Delusions_and_the_Madness_of_Crowds (Charles Mackay, 1841)
Suck dope, watch TV, make up stuff, be somebody on the internet.
onenickelmiracle
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January 29th, 2015 at 11:05:55 AM permalink
Money is control, the exercise of power, and these will not be given up freely.
I am a robot.
Zcore13
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January 29th, 2015 at 11:43:29 AM permalink
Quote: Zuga

"If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap..." :

http://www.latestcasinobonuses.com/article/winklevoss-twins-support-bitcoin-industry



Oh the Winklevoss Twins said something? Does anyone care?

They own 1% of all bitcoins in existence so they might be a little biased.

They invested in a startup bitcoin payment processing company in 2013 (which was shut down for money laundering) so they might be a little biased.

They started their own bitcoin exchange company in 2013 as well, so they might be a little biased.

Last year they started a bitcoin financial index, so they might be a little biased.

They were born with a silver spoon in their mouths and have no concept of life or business in the real world.


ZCore13
I am an employee of a Casino. Former Table Games Director,, current Pit Supervisor. All the personal opinions I post are my own and do not represent the opinions of the Casino or Tribe that I work for.
EvenBob
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January 29th, 2015 at 11:55:01 AM permalink
This article reminds me of Preston Tucker,
who went all over selling the idea of his
Tucker car, saying it was the future of
automobiles. He put out 51 cars in 1948
and went out of business in 49. Talk is
just that, talk. The TwinkleVoss boys
are HOPING it goes their way, they really
have no idea of the outcome.

"It's not called gambling if the math is on your side."
DrawingDead
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January 29th, 2015 at 12:31:44 PM permalink
About eighteen months to a year ago, watching them throwing really angry responses at skeptics, something bitcoin enthusiasts seemed most likely to miss was that the exponential RISE in the relative price of bitcoin at that time was every bit as much at the root of a problem for it as the subsequent fall is now. To succeed as a currency it must be relatively more dependable as both a friction-less medium of exchange and a long term store of value, and going up at rates that are many orders of magnitude faster than exchange rate moves of major sovereign currencies is as corrosive of that as is crashing. From the point of view of fans, the best thing that could happen to bitcoin is nothing; for the relative price of it to take a long boring nap. From the content of their vigorous attempts to promote it and vehement responses to critics I don't think many of them really get that, and one of the most serious problems for bitcoin is in the nature of bitcoin enthusiasts. If it "can be" in the trillions in market cap, it then becomes more likely that it will be in the zeros as a consequence.
Suck dope, watch TV, make up stuff, be somebody on the internet.
vendman1
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January 29th, 2015 at 12:35:43 PM permalink
Quote: DrawingDead

About eighteen months to a year ago, watching them throwing really angry responses at skeptics, something bitcoin enthusiasts seemed most likely to miss was that the exponential RISE in the relative price of bitcoin at that time was every bit as much at the root of a problem for it as the subsequent fall is now. To succeed as a currency it must be relatively more dependable as both a friction-less medium of exchange and a long term store of value, and going up at rates that are many orders of magnitude faster than exchange rate moves of major sovereign currencies is as corrosive of that as is crashing. From the point of view of fans, the best thing that could happen to bitcoin is nothing; for the relative price of it to take a long boring nap. From the content of their vigorous attempts to promote it and vehement responses to critics I don't think many of them really get that, and one of the most serious problems for bitcoin is in the nature of bitcoin enthusiasts.



This is well written and concise. It's Econ 101 stuff. A currency requires stability and confidence of the public to be viable. Not to mention universal acceptance. Bitcoin has none of those things. It 10 years it probably won't exist.
Boz
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January 29th, 2015 at 12:39:45 PM permalink
A dream come true for Online casinos who flaunt US Currancy laws everyday. Like others have said, it is a gamble when you dont know who is dealing the game and what the rules are. Let the player or buyer beware.
AcesAndEights
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January 29th, 2015 at 1:12:30 PM permalink
Quote: DrawingDead

I've seen a few tulips, er, bitcoins come and go. Mostly go. There is always a "next big thing that's totally different than all those other things" and always will be another coming along shortly. Watching $1,100 quickly become $200 has been a real amusing spectator sport, when it is someone else's "next big thing - you just don't understand - and don't call it tulips or beanie babies" money.

http://en.wikipedia.org/wiki/Tulip_mania (1619-22)

http://en.wikipedia.org/wiki/Extraordinary_Popular_Delusions_and_the_Madness_of_Crowds (Charles Mackay, 1841)


Eh, I think a better comparison is gold or silver, due to the scarcity and mining aspect. Gold pretty much just keeps pace with inflation. I expect BitCoin to do the same once it settles. The big question is where is its settling point?

I would like to own some BTC just to support it as I like the idea. But I haven't gotten around to it.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
Zuga
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Zuga
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January 30th, 2015 at 9:06:12 AM permalink
Quote: DrawingDead

And if Lady GaGa said the moon was made of green cheese...

https://bitcoinaverage.com/charts#USD-averages-1y

Good luck with that.



lol yeah next to the Russian Ruble , bitcoin lost the most value in the last year or so.
"All it takes for evil to prevail is for good people to do nothing "
98Clubs
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January 30th, 2015 at 8:30:05 PM permalink
I dunno, folding proteins for BC's might be advantageous to a Super-Computer in a University. But locally here in the North East there are reports of death-threat mail (snail-mail) with "ransom" paid in BC's. About 20 mailings in CT according to TV news webpages, aimed at the wealthiest communities of course.
Some people need to reimagine their thinking.
AxelWolf
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January 31st, 2015 at 4:16:00 AM permalink
I was just looking at the bit coin exchanges because i'm still thinking of buying some, of course I have been thinking about it since the $430 range.

Thinking, where easiest to buy BC, I looked at one BC exchange and noticed the price was $229

I went to another exchange to see if it was any easier or customer friendly and I noticed the price was $234. So I went back to the first exchange to see if it was now $234
NOPE it was still lower at $230. I refreshed the pages to make sure. I watched both, and as of now, one is about 230. and the other one is now 232.75.

Is there a legitimate feasible arbitrage opportunity with BC?
♪♪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♪♪
AcesAndEights
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January 31st, 2015 at 3:29:36 PM permalink
Quote: AxelWolf

I was just looking at the bit coin exchanges because i'm still thinking of buying some, of course I have been thinking about it since the $430 range.

Thinking, where easiest to buy BC, I looked at one BC exchange and noticed the price was $229

I went to another exchange to see if it was any easier or customer friendly and I noticed the price was $234. So I went back to the first exchange to see if it was now $234
NOPE it was still lower at $230. I refreshed the pages to make sure. I watched both, and as of now, one is about 230. and the other one is now 232.75.

Is there a legitimate feasible arbitrage opportunity with BC?


That's an interesting question, but usually the exchanges take a cut on each transaction. So I doubt you would be able to beat the vig.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
AxelWolf
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January 31st, 2015 at 11:27:47 PM permalink
Quote: AcesAndEights

That's an interesting question, but usually the exchanges take a cut on each transaction. So I doubt you would be able to beat the vig.

Vig is way less certainly less than the possible arbitrage (thats what makes BC attractive low fees), I though it was like 0.5 %

The math is solid but assuming its less than 1% total fees ......

My question is are you locked on the buy instantly? Or is there a lag time? How long dose it take too sell it to the other exchange once you buy it or will the other exchange adjusted it before you can sell? how often can you make transaction like this? Is your money tied up for days after a sale?
♪♪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♪♪
AcesAndEights
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February 2nd, 2015 at 10:36:02 AM permalink
Quote: AxelWolf

Vig is way less certainly less than the possible arbitrage (thats what makes BC attractive low fees), I though it was like 0.5 %

The math is solid but assuming its less than 1% total fees ......

My question is are you locked on the buy instantly? Or is there a lag time? How long dose it take too sell it to the other exchange once you buy it or will the other exchange adjusted it before you can sell? how often can you make transaction like this? Is your money tied up for days after a sale?


Those are all the important questions. Why don't you try it out and let us know?

I'm being facetious of course :). If you figure it out, you should keep all the info to yourself. But it shouldn't be that expensive to explore the options; just deposit a couple hundred bucks with 2 of the exchanges and figure out all of the variables.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
EvenBob
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February 2nd, 2015 at 11:19:49 AM permalink
'The bitcoin price has fallen 11% over the last seven days, opening at $254.51 on 26th January and closing at $226.40 on 1st February'

Hurry and buy, you too can lose money.
"It's not called gambling if the math is on your side."
Zcore13
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February 2nd, 2015 at 12:18:29 PM permalink
Hey, that's 226.4% more than it's actually worth. Big slide from it's top for sure. Luckily all the heroin dealers and smugglers of all kind love it because they can hide their illegal activities a little better, so it should keep some value until it gets shut down completely someday.


ZCore13
I am an employee of a Casino. Former Table Games Director,, current Pit Supervisor. All the personal opinions I post are my own and do not represent the opinions of the Casino or Tribe that I work for.
EvenBob
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February 2nd, 2015 at 12:39:36 PM permalink
I bet there was champagne every day with
the TwinkleToes brothers when it was at
$1200. They would show that trillionaire
crook Zuckerberg that they weren't dumb
after all. Oops...
"It's not called gambling if the math is on your side."
BoulderDamIt
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February 2nd, 2015 at 1:19:20 PM permalink
Zcore has it.
It is loved by those on the Deep Web. It was the standard accepted form of payment on sites like the Silk Road.

http://en.m.wikipedia.org/wiki/Silk_Road_(marketplace)
AxelWolf
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February 2nd, 2015 at 6:11:54 PM permalink
Quote: AcesAndEights

Those are all the important questions. Why don't you try it out and let us know?

I'm being facetious of course :). If you figure it out, you should keep all the info to yourself. But it shouldn't be that expensive to explore the options; just deposit a couple hundred bucks with 2 of the exchanges and figure out all of the variables.

If I tried every possible Idea I thought of, I wouldn't have time for anything else.

Oh and how I hate setting up accounts online(zero fun). fill out forms,bank info, impossible to remember password,verify this verify that, CAPTCHA errors. I'm annoyed just making a new Email. I'm annoyed just thinking of it.

I come up with the Idea, give you the money to test it, and you let me know.

If it's profitable we have someone sit and do it for us.

$$$
♪♪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♪♪
98Clubs
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February 2nd, 2015 at 7:51:48 PM permalink
Wasn't there a thread some time ago in which the IRS siezed a boat-load of BC's making them a 15-20% owner?
Some people need to reimagine their thinking.
pacomartin
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February 2nd, 2015 at 8:06:20 PM permalink
Quote: 98Clubs

Wasn't there a thread some time ago in which the IRS siezed a boat-load of BC's making them a 15-20% owner?



they seized 30,000 Bitcoins out of 13.8 million. So that is nowhere near 15-20%.
98Clubs
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February 2nd, 2015 at 8:32:01 PM permalink
thanks for that. I stand corrected.
Some people need to reimagine their thinking.
Zcore13
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February 2nd, 2015 at 10:51:23 PM permalink
Quote: pacomartin

they seized 30,000 Bitcoins out of 13.8 million. So that is nowhere near 15-20%.



It was actually 174,000 in total. They sold off 30,000 in in 10% chunks and then auctioned about 144,000 to one person.


ZCore13
I am an employee of a Casino. Former Table Games Director,, current Pit Supervisor. All the personal opinions I post are my own and do not represent the opinions of the Casino or Tribe that I work for.
Zcore13
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February 16th, 2015 at 12:06:26 PM permalink
There's a show on CNN about Bitcoin on Thursday night. Morgan Spurlock investigates and tries to live off Bitcoin for a couple days.

ZCore13
I am an employee of a Casino. Former Table Games Director,, current Pit Supervisor. All the personal opinions I post are my own and do not represent the opinions of the Casino or Tribe that I work for.
EvenBob
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February 16th, 2015 at 1:46:11 PM permalink
Quote: Zcore13

Morgan Spurlock investigates and tries to live off Bitcoin for a couple days.



Have they checked his apt for his body?
Starvation..
"It's not called gambling if the math is on your side."
onenickelmiracle
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January 4th, 2017 at 11:05:01 PM permalink
Fifteen months ago it seemed like a bargain, you would have made 5x your money. I didn't do it and should have. At this level, I would be afraid getting in, but although it booms and crashes, it could still potentially skyrocket. This currency is propped up by the criminals, and they're not going anywhere else.

Lol evenbob, eggs are cheap but you got free eggs on your face. Me too, just because I knew better than you and am quite disappointed I lost out. $10,000 would have been $50000 today. Man that is hard to swallow.
I am a robot.
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