Bitcoin's and the future of online banking - Page 31

On September 11 2017 02:23 Barley wrote: there's also exchange risk, like we're seeing with china right now.

Pretty sure that was all FUD bro

On September 11 2017 02:21 Barley wrote: non-sense. i mine zcl specifically with gtx cards and even a 950 can make 250 a year. with energy costs, fortunately, it only takes about 15% of my income. then you have appreciation on top of that if you mine the right coin at the right time. if i were to dump money, it's into income-producing assets. a rig can have a higher resale value than the individual parts, but if btc drops 25%, you're fucked that 25% unless it comes back up.

dont get me wrong Im not saying its not profitable what im saying is that its stupid to say people who just buy-sell are wrong and we all should mine, Starbucks are not idiots for not growing its own cofee, could they? yes, would they make even more? perhaps but its another whole part of the busineses many people dont want to get into.

Shitcoin traders would probably laugh at miners and all the work for pennies, big chinese miners probably laugh at shitcoin traders too and no group is right or wrong.

The analogy you use with starbucks would be miners building the equipment they use to mine with, instead of just buying it. I'm all for risk management, and dumping money into an exchange that's not sanctioned by the sec or other various bodies is asking to be robbed, hacked, or denied access. Hell, I actually got banned from an exchange for using a different IP one time.

I'm not saying it's wrong, but I am saying it's stupid. You have no means to hedge your speculation. Whatever options there are are way too expensive, and again, the exchanges are too risky to put serious money on. Again, with risk management, people will buy mining rigs for more than what you paid for the individual parts, but if BTC drops 25% in a single move, which isn't unheard of at all, then you're fucked that 25%. (and most people will take those losses to prevent further losses) Then you also have the psychology of free rolling with mining, which makes it a lot easier to trade.

>protip:
>Starbucks does have land for growing coffee beans

Im pretty worried about this whole china thing. Whats the deal? Anyone selling off right now? Price is just below ~4200.

I really want to stress the risk of getting your account emptied out, as well. I see it all the time in the groups I'm in. "I took every precaution, even cold storage, but all my holdings are 0 and these are the transactions that aren't listed in my account which shows my account being emptied."

On September 11 2017 13:32 Barley wrote: I really want to stress the risk of getting your account emptied out, as well. I see it all the time in the groups I'm in. "I took every precaution, even cold storage, but all my holdings are 0 and these are the transactions that aren't listed in my account which shows my account being emptied."

how could they empty a cold storage account?

most people use hackable cold storage ie: not putting this shit down on actual paper.

here's some stuff about it

https://www.coindesk.com/research-hackers-install-backdoor-bitcoin-cold-storage/

https://bitcointalk.org/index.php?topic=926881.0

It really doesn't matter what you do, people will find a way to hack it.

I think my original call was wrong. Bitcoin still seems like it's bullish. Its channelling up on the daily, and we're super oversold. Barring any more bullshit news from China, things look ok.



Also fun fact I learned recently. During the dot com bubble in the 90s. It hit a market cap of 5 trillion before any major correction. Not saying crypto is going that high before things go bearish, but there's potentially a fuck ton of room to grow.

On September 11 2017 22:43 Trav94 wrote: I think my original call was wrong. Bitcoin still seems like it's bullish. Its channelling up on the daily, and we're super oversold. Barring any more bullshit news from China, things look ok. Also fun fact I learned recently. During the dot com bubble in the 90s. It hit a market cap of 5 trillion before any major correction. Not saying crypto is going that high before things go bearish, but there's potentially a fuck ton of room to grow.

crypto can go way beyond a 5 trillion market cap.

On September 11 2017 13:32 Barley wrote: I really want to stress the risk of getting your account emptied out, as well. I see it all the time in the groups I'm in. "I took every precaution, even cold storage, but all my holdings are 0 and these are the transactions that aren't listed in my account which shows my account being emptied."

if only it were that easy. hackers are welcome to empty satoshi's wallet. do it now.

On September 11 2017 13:31 hiems wrote: Im pretty worried about this whole china thing. Whats the deal? Anyone selling off right now? Price is just below ~4200.

lol. you should be happy! more coins to pick up.

On September 12 2017 00:36 lucky331 wrote: Show nested quote + On September 11 2017 13:32 Barley wrote: I really want to stress the risk of getting your account emptied out, as well. I see it all the time in the groups I'm in. "I took every precaution, even cold storage, but all my holdings are 0 and these are the transactions that aren't listed in my account which shows my account being emptied." if only it were that easy. hackers are welcome to empty satoshi's wallet. do it now.

Satoshi, or rather, Hal, is dead, no? He knew he was going to die and didn't want BTC to get out of hand so he amassed such a large amount when he was still alive that when he died, it will eventually destroy BTC since they will be rendered unusable.

On September 11 2017 21:45 Barley wrote: here's some stuff about it https://www.coindesk.com/research-hackers-install-backdoor-bitcoin-cold-storage/ https://bitcointalk.org/index.php?topic=926881.0 It really doesn't matter what you do, people will find a way to hack it.

lol yeah if they isntall software in your actual cold storage they coudl steal your shit, -_-


Also if they put a gun in your moth and ask you for your BTC they could take your money, beware!

On September 12 2017 01:11 Barley wrote: Show nested quote + On September 12 2017 00:36 lucky331 wrote:   On September 11 2017 13:32 Barley wrote: I really want to stress the risk of getting your account emptied out, as well. I see it all the time in the groups I'm in. "I took every precaution, even cold storage, but all my holdings are 0 and these are the transactions that aren't listed in my account which shows my account being emptied." if only it were that easy. hackers are welcome to empty satoshi's wallet. do it now. Satoshi, or rather, Hal, is dead, no? He knew he was going to die and didn't want BTC to get out of hand so he amassed such a large amount when he was still alive that when he died, it will eventually destroy BTC since they will be rendered unusable.

For someone in crypto you sure spread a lot of misinformation about them, are you sure you are not writer for the economist or something?

On September 12 2017 01:11 Barley wrote: Show nested quote + On September 12 2017 00:36 lucky331 wrote:   On September 11 2017 13:32 Barley wrote: I really want to stress the risk of getting your account emptied out, as well. I see it all the time in the groups I'm in. "I took every precaution, even cold storage, but all my holdings are 0 and these are the transactions that aren't listed in my account which shows my account being emptied." if only it were that easy. hackers are welcome to empty satoshi's wallet. do it now. Satoshi, or rather, Hal, is dead, no? He knew he was going to die and didn't want BTC to get out of hand so he amassed such a large amount when he was still alive that when he died, it will eventually destroy BTC since they will be rendered unusable.

I like how you say it was Hal Finney when there's literally no cold hard proof that it was him. You're not a very good troll

Swings are crazy after a parabolic move like that. You should wish for more bad news to enter at a better price but this thing feels like a strong hold and if you wish to trade it's better to just hold a big chunk of your core holdings and trade only 10 to 20% . The Crypto market is still very immature so it's behaving like it should for now, it'll take years before it behaves like any other traded asset out there. Also the lack of a "shorting" option in the exchanges is one of the reasons I still feel bullish about BTC


Support ranges(only if it fails to move up)

4000ish
3400ish
2600ish

On September 12 2017 01:11 Barley wrote: Show nested quote + On September 12 2017 00:36 lucky331 wrote:   On September 11 2017 13:32 Barley wrote: I really want to stress the risk of getting your account emptied out, as well. I see it all the time in the groups I'm in. "I took every precaution, even cold storage, but all my holdings are 0 and these are the transactions that aren't listed in my account which shows my account being emptied." if only it were that easy. hackers are welcome to empty satoshi's wallet. do it now. Satoshi, or rather, Hal, is dead, no? He knew he was going to die and didn't want BTC to get out of hand so he amassed such a large amount when he was still alive that when he died, it will eventually destroy BTC since they will be rendered unusable.

if satoshi was hal then he would be for smaller blocks.

there was a thread on bitcointalk where hal and satoshi were arguing on how to scale bitcoin better. satoshi was for onchain
scaling while hal was for offchain scaling.

On September 12 2017 01:43 Baalim wrote: Show nested quote + On September 11 2017 21:45 Barley wrote: here's some stuff about it https://www.coindesk.com/research-hackers-install-backdoor-bitcoin-cold-storage/ https://bitcointalk.org/index.php?topic=926881.0 It really doesn't matter what you do, people will find a way to hack it. lol yeah if they isntall software in your actual cold storage they coudl steal your shit, -_- Also if they put a gun in your moth and ask you for your BTC they could take your money, beware!

It's not hard to compromise a machine, which is the key link in why the securities BTC is meant to provide utterly fail. You can't do shit with your cold storage until you risk it by using connected machines.

On September 12 2017 01:57 Trav94 wrote: Show nested quote + On September 12 2017 01:11 Barley wrote:   On September 12 2017 00:36 lucky331 wrote:   On September 11 2017 13:32 Barley wrote: I really want to stress the risk of getting your account emptied out, as well. I see it all the time in the groups I'm in. "I took every precaution, even cold storage, but all my holdings are 0 and these are the transactions that aren't listed in my account which shows my account being emptied." if only it were that easy. hackers are welcome to empty satoshi's wallet. do it now. Satoshi, or rather, Hal, is dead, no? He knew he was going to die and didn't want BTC to get out of hand so he amassed such a large amount when he was still alive that when he died, it will eventually destroy BTC since they will be rendered unusable. I like how you say it was Hal Finney when there's literally no cold hard proof that it was him. You're not a very good troll

Show me proof Satoshi actually exists, though.