Paul&John

at bitstamp.. nice

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Smack dat

Wow. £4525 and I thought it was going to crash.
Wish I had the funds to buy more and often

All I can do is take tips.Accepting satoshis. 1MLKrPPboTekJMbeD8E9iWmSVKQciDY2mH

djroof

The new "coin" in low price, which u think will be?

pimpmaster9000

The problem with bitcoin is that it is a Ponzi...

Let me explain...

If just 1% of bitcoin gets cashed out it is game over...you see there are approx 16 million bitcoins so 1% is 160k bitcoins X 6000$ = almost 1billion$

Ain't no exchanger got that...piriod!...the top 1000 exchangers ain't got that and I do not think that 1000 exchangers for bitcoin even exist!

So if just 1% ever gets cashed in, a fuck is what's up LOL

Can you spell fragile?

Smack dat

What would happen if a country - say USA said they no longer wanted their Gold reserves and instead wanted GBP for them?

The price of Gold would crash and the price of GBP would increase.

Kafka

Same for banks. If 1% cashed out. Banks are broke.

pimpmaster9000

bitcoin and a national currency are not the same...a national currency has governments, institutions, courts, the entire legal system, armies and the filthy rich and powerful standing behind it...bitcoin does not...there is no reason to cash out currency in developed countries because it is accepted in many forms like credit card or bank wire...bitcoin is not...

you can not buy shit with bitcoins even though newegg.com accepts them 99% of all merchants will never ever accept bitcoin...on the other hand 100% of all merchants accept national currency...

even if 0.1% of bitcoins wanted cash out this would be 100 million...aint no exchanger got that...the top 100 exchangers simply do not have 1million on average each...I dont think there is 100 exchangers for bitcoin TBH...

now its super fair to say that most bitcoin owners are speculators...speculators will want that lavish lifestyle and want to cash out and live the easy life once their bitcoin grows to say 20.000$/bitcoin...just 0.1% of them have to decide that its safer to cash out...game over...

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TheDynasty

Made a few hundred in under a month

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kane

It's not a ponzi scheme, but it is an unstable, risky currency. As others have said, if 1% of the people took their money out of the banks, the banks would crash. As you said, the banks have countries, the wealthy, other banks etc backing them so they could get through it while Bitcoin doesn't. That doesn't make bitcoin a ponzi scheme as they are not taking money from one person in order to give it to another and cooking the books to make it seem like everything is fine. It is simply a high risk investment that, at the moment, is doing well, but could crash.

ruff

Can you spell brokeass whiner?

freecartoonporn

i need time machine.

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jscott

don't mind crucifissio, it's blindly trolling crypto for a long time, yet it'll be one of the highest posters in this thread

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pimpmaster9000

the moment people started using it for speculation it became one:

Ponzi scheme
ˈpɒnzi/Submit
noun
a form of fraud in which belief in the success of a non-existent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.


and considering just a 0.1% withdraw will bankrupt all exchangers and the coin is not, and never will be, adopted by 99% of homo sapiens, it remains a ponzi coin...the more it grows in popularity as a HYIP the more fragile it becomes...it will never be anything but a HYIP because nobody on this planet finds it convenient for use...

of course none of the pump and dump crew are willing to address this issue...

cant wait for bitcoin to hit 10k....then it will be 0.05% that need to cash out to bankrupt all exchangers LOL

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Google Expert

If you invested $100k at the start of the year, you'd have $800k right now.

That's an x8 growth within 10 months.

Deal with it.

jscott

^^ he is dealing with it. by the "trolling til he kills bitcoin" method lol

pimpmaster9000

yes that is how ponzis start...how about addressing the fact that 0.1% bankrupts all exchangers? no? didnt think so LOL

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Dreamteam

OF COURSE Bitcoin will crash at some point.

Reason, at some point people will cash in because they multiplied their money with factor 100.

There is no reason whatsoever to cash in at banks because you can't make such profits with national currency.

People don't cash in when they made $100 profit on a $100.000 investment.

But they will cash in when their $100.000 investment becomes $800.000 ... Otherwise there is no reason investing right?

Believe me at some point it will crash.

When? no idea yet but as soon as rumors starts people will take and run. It will be a snowball effect ...

That's how people are ... once rumors start people will secure what they have.

Same with oil for example ... when someone in the oil business "make a fart (a rumor)" then the price goes up with 2% ... WITHOUT ANY REAL REASON WHATSOEVER !!!

A simple rumor from teh right people is enough to make people doubt about Bitcoin and cash in what they already have.

Quote: ?Everything that has a beginning, has an ending & In every end, there is also a beginning.?

Google Expert

It's possible it will crash. But there is no reason to not grab that chance and become a billionaire while it lasts.

You've had 8 years of opportunity so far.

pimpmaster9000

Lol you can not cash out a billion...you can not eve.n cash out 10 million IRL...

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Google Expert

You poor misguided soul

Paul Markham

Notting Hill mansion for sale but you must pay in Bitcoin | Daily Mail Online


https://www.google.de/search?dcr=0&q....0.cRzWhpiMWnE

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pimpmaster9000

oh a tweet...from "Rekt"... well that really proves me wrong...


you do not understand how exchangers work...they do not shit money or pull it from thin air...the moment shit goes south you think they will give you their USD for your ponzi coin?

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jscott

fyi, finex was hacked, i got my money, mtgox fucked up and i was able to withdraw my bitcoins

even btc-e/wex have given back coin to users.

wtf are you even talking about anymore? i saw dumb in you many months ago, but now it's outta control

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Tango

I know the owner well. He is getting real inquiries as well.

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Tango

Simple rule for BTC.

Never sell - 24, 36, 48 months from now you will see why. Then you can start cashing in.

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pimpmaster9000

the ONLY reason mtgox was able to pay back shit was because of the rise in bitcoin price...but you forgot to mention that...how convenient eh?

the definition of dumb is people who think "money out of thin air" is a viable plan

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jscott

You are wrong again... Mtgox was showing signs of fucking up long before they actually "fucked up"
wires were not coming in, money was not coming out
we had MONTHS before they "went under" to still control our bitcoins

I saw this fucking up happening, i didnt like it, so i transferred my coins out quickly.

Many mtgox bitcoin holders let theirs stay in Mtgox bcos on paper their worth was a LOT more than any other exchanges (than bitstamp, cbase, btce etc)

Just a little knowledge for you my man, this is stuff you obviously do not know

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pimpmaster9000

OK you have proven me wrong...basic math is for idiots, money out of thin air is the way to go...enjoy the pump and dump while it lasts and remember I told you so

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jscott

Basic math is great, but you are preaching that 2 + 3 = 65 how to even have a proper discussion with somebody like that?

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pimpmaster9000

actually it is you who is preaching that 2+3 = 65 not me...but hey if your arguments are so desperate that you have to defend your pump and dump with obviously false facts then so be it

ponzicoin will just keep on growing and growing and nobody will never want to enjoy their newly acquired billions LOL oh and look a few shops accept bitcoin! game over national currencies

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Google Expert

Fuck, you are stupid.

Bitcoin transactions are 100% transparent. You can trace that purchase from wallet to wallet.

If you are suggesting that the BitMex exchange made it up, you are even more stupid than i thought. They are making bank every day just on % from transactions. A huge exchange like that would not risk their rep to make up fake tweets.

And no one is forcing you to store your bitcoins on exchange markets. You can keep it on a private wallet on your PC, flash drive, etc.

Tango

Unless you put your coins into a mixer.

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pimpmaster9000

I do not follow hyip or Ponzi news...I do not know who "rekt" is not do I care...I know you can not cash out 0.1% of bitcoins without destroying bitcoin...I also know that the more bitcoin rises in value, the smaller the percent of cash out critical mass becomes...

Sooner or later 0.1% will want their out-of-thin-air money so that they can live like rock stars...

We both know what will happen then...good luck with the hyip in any case...

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JFK

on what investment ?

There's a Crypto Conference in Prague, FUBAR Will be there
https://cryptoaffiliateconf.com/

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Tango

I was planning on being there - will be in China instead. Anti - KICK - a good friend of mine - have a large # of KICKICO.

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jscott

I see where you're wrong here, you are making your equation based on the falsity that every bitcoin in the world being stored in an exchange. So you're hypothetical situation is fucked from the gitgo.

You need to find a different scenario man, this one is very "broken".

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pimpmaster9000

It does not matter if bitcoins are stored in exchanges, wallets, Tupperware or on the moon...a cash out of just 0.1% is more money than all the exchangers have combined....

Sooner or later somebody is going to want to cash out and enjoy the good life...as the value of bitcoin grows the % of cash out required to bankrupt bitcoin gets smaller...super simple stuff...

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pimpmaster9000

Maybe you could explain why it is not so? Didn't think so...

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jscott

ok so lets just forget your math sir? haha
u fight with math
now you abandon math

make up your mind dude

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pimpmaster9000

How do I abandon math? LOL

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ruff

Meanwhile, I sell and then I buy. Over and over making bank. So what your opinion? If the super volcano goes off in Yellowstone Bitcoin is worth shit. All these years you mouth off, myself and others keep making bank. If Bitcoin goes down the toilet tomorrow, I lose nothing. You don't get it, you will never get it. Bitcoin, silver, stocks, what the fuck ever, doesn't matter. It's all about the benjamins. We buy Bitcoin, you hold your dick and holler like Chicken Little. "The sky is falling, the sky is falling". STFU already.

PornDude

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jscott

really trying to help this guy, is it a lost cause?
sad

is like somebody who so stubborn and only using landlines lol

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bronco67

Who is the arrogant motherfucker in this thread to say he knows more than Jordan Belfort?

https://gizmodo.com/guy-who-ran-real...the-1819756698

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jscott

well he aint wrong, some of those ICO's will prove to have been scams. Stick with the "main one" should be fine

if you're looking for financial advice ask cruc

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bns666

wow

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nikki99

6k??? OMG...

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TheDynasty

Bitcoin

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rowan

FWIW... even though I agree that a major dump would crash Bitcoin, I regularly see sell and buy orders for low six figures (ie several hundred thousand dollars) on an exchange I use. The interface even helpfully bolds the massive amounts.