Private Money!

[Mo]

TFW even your dealer is telling you to slow down with the drugs.

https://blog.coinbase.com/please-invest ... 7f13a4b0b1

[Warren]

TFW even your dealer is telling you to slow down with the drugs.

https://blog.coinbase.com/please-invest ... 7f13a4b0b1

That's not what that says.

[D.A. Ridgely]

Yeah, that reminds me, how do I go about cashing out that Bitcoin wallet you created for me?

Right now the only exchange I know of that is working for US customers and allowing US dollar withdrawals is Coinbase. You'll have to create an account with them. Be prepared to establish your identity by taking a picture of your ID, scanning utility bills, etc. You will also want to link a bank account to it. I have a separate checking account just for internet stuff. Don't sell on coinbase.com, sell on gdax.com which is an exchange associated with coinbase.

So, I opened a Coinbase account, linked it to a bank account and somewhere along the line scanned a QR code on my desktop screen to my smartphone "wallet." Apparently, I could buy and sell directly between my bank account and Coinbase. Do I now go to the gdax.com site? What then?

[Warren]

Yeah, that reminds me, how do I go about cashing out that Bitcoin wallet you created for me?

Right now the only exchange I know of that is working for US customers and allowing US dollar withdrawals is Coinbase. You'll have to create an account with them. Be prepared to establish your identity by taking a picture of your ID, scanning utility bills, etc. You will also want to link a bank account to it. I have a separate checking account just for internet stuff. Don't sell on coinbase.com, sell on gdax.com which is an exchange associated with coinbase.

So, I opened a Coinbase account, linked it to a bank account and somewhere along the line scanned a QR code on my desktop screen to my smartphone "wallet." Apparently, I could buy and sell directly between my bank account and Coinbase. Do I now go to the gdax.com site? What then?

You can buy and sell on coinbase, but they'll joo you on the price. Yes, go to gdax.com and you should be able to sign in with your coinbase name/password/2FA. Move your BTCs from coinbase to gdax (click your name, click "accounts", highlight BTC, click the little down arrow, and a you should get a "Deposit Funds" popup, click Coinbase Account, etc.)
Then go to "Trade View". MAKE SURE YOU ARE LOOKING AT THE BTC/USD PAGE. And I think you can just click on the amount of BTCs and it will prefill all of them. Then just click "Place Sell Order". Then you will have USDs that you can deposit direct to your bank. (Go to Accounts, click USD, click up arrow, etc.)

[Mo]

but they'll joo you on the price.

[Warren]

but they'll joo you on the price.

Over the line?
Is there an acceptable turn of phrase that means that?

[Solitudinarian]

but they'll joo you on the price.

Over the line?
Is there an acceptable turn of phrase that means that?

Are you kidding? No other phrase comes to mind except that one?

[thoreau]

Warren wants everyone to know that there are some very fine people on both sides of this issue.

[Warren]

but they'll joo you on the price.

Over the line?
Is there an acceptable turn of phrase that means that?

Are you kidding? No other phrase comes to mind except that one?

Well, nothing as colorful.

Oh dear. I think I did it again.

[Dangerman]

Gyp?

Wait...

[Jennifer]

but they'll joo you on the price.

Over the line?
Is there an acceptable turn of phrase that means that?

"Cheat?" "Haggle?" "Nickel-and-dime you to death?" There are lots of options that don't rely on anti-Semitic stereotypes. Seriously, Warren, not cool.

[dbcooper]

[Mo]

Nope, not a bubble.

[Warren]

Nope, not a bubble.

Stymied by paywall

[Mo]

Try clicking through from here.

[Warren]

15:1 leverage? Yeesh.
Yeah, I wouldn't be surprised to see a pull back. But I think it's safe to say it will find support somewhere. And at this point I would be surprised if it fell beneath the Nov lows of $6,000, and absolutely shocked if it broke the Sep lows of $3000. But even if it falls back to the Jul lows of $2000, it would still be up over %100 for the year.

[Mo]

Instead of replacing The Man, bitcoin is replicating him.

https://theoutline.com/post/2592/bitcoi ... osed-to-be

[Warren]

Instead of replacing The Man, bitcoin is replicating him.

https://theoutline.com/post/2592/bitcoi ... osed-to-be

Bitcoin is still outside the reach of the government or any large institution. It is the most important of the things it is suppose to be and it's just getting started.
I don't doubt a far better crypto could be minted and dislodge bitcoin from it's throne. But there are thousands now, and so far none have made any serious assault on it.
As I type this, a single bitcoin will cost you over sixteen thousand dollars. At this point, anybody that thinks bitcoin is a fad with no actual value supporting that price is clueless.

[Mo]

Instead of replacing The Man, bitcoin is replicating him.

https://theoutline.com/post/2592/bitcoi ... osed-to-be

Bitcoin is still outside the reach of the government or any large institution. It is the most important of the things it is suppose to be and it's just getting started.
I don't doubt a far better crypto could be minted and dislodge bitcoin from it's throne. But there are thousands now, and so far none have made any serious assault on it.
As I type this, a single bitcoin will cost you over sixteen thousand dollars. At this point, anybody that thinks bitcoin is a fad with no actual value supporting that price is clueless.

Bitcoin is not outside the reach of a government. If major governments (US, UK, EU, Japan and China) made it illegal for banks/companies to make bitcoin transactions, the value would plummet to the prices when it bitcoin was basically a Silk Road only currency.

Your last statement is not an argument, as it could be used to justify any bubble from tulip bulbs to shares of TheGlobe.com. What is the case that it has value. It doesn't even have alternative uses the way precious metals do. Dutch Warren could have said, "Right now, some tulip bulbs sell for more than 10 times the salary of a skilled craftsman, anybody that thinks tulips are a fad with no actual value supporting that price is clueless."

[Warren]

You wanna make a bet Mo?

[Mo]

Nothing on a time frame shorter than a decade.

[Warren]

Nothing on a time frame shorter than a decade.

Ah. Well perhaps you see farther than me.

[Mo]

No, I just heed the wisdom that the market can remain irrational longer than you can remain solvent. I would bet that things would go down the tubes in closer to 5 years than 10, but I wouldn't bet real money/reputation on it.

[Sandy]

[Jennifer]

At this point, anybody that thinks bitcoin is a fad with no actual value supporting that price is clueless.

"This time it's different."

"Real estate only ever goes up in value."

"Housing bubble? What housing bubble?"

"They're not making any more land, you know."