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Bitcoin Cash deals frozen as insider trading is probed

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Re: Bitcoin Cash deals frozen as insider trading is probed

#41

Post by yeukhon »

55555 wrote: post #34
adrianN wrote: post #24

Earlier quoted context omitted.

You can't pay your taxes in Bitcoin.

What? That doesn't even make any sense. You can sell the bitcoin for USD then pay your taxes. Just like you can't pay your taxes with 1 billion dollars worth of Facebook stock or gold. The argument you are looking for is: "USD has value BECAUSE the state makes you pay your taxes in it." Notice that that argument does not end with, "and this is the only way a commodity or currency can have value." Because there are di…

You are assuming his intent without asking, and you are calling that intellectually lazy. What?

You do not pay taxes with bitcoin because the government does not accept it. Simple as that. Not lazy, just fact.

Re: Bitcoin Cash deals frozen as insider trading is probed

#42

Post by etr-strike »

pmlnr wrote: post #33
etr-strike wrote: post #16

Earlier quoted context omitted.

Cryptocurrency is useful. Bitcoin allows me to be my own bank. The rules of consensus define characteristics of money I believe are important. It allows me to save my money outside of the global financial system, a system I believe is corrupt and manipulated. It allows me to program my money, something never before possible. It allows me to transact freely, with whomever I please. Money is whatever people believe it…

> Bitcoin allows me to be my own bank. I too, like to live dangerously. I run a mail server. A web server. Damn, I was tempted to (partially) host my DNS. But running my own bank? Hell no. Those who ever had to touch things like PCI compliance or seem actual money transaction requirements will want to stay far, far away from being their own bank, so good luck there, you'll need it. > It allows me to save my money out…

Sounds like you're intentionally trying to be disagreeable. You don't like the features Bitcoin provides. That's fine, don't use it. Plenty of other people do like them. That's what gives Bitcoin its value.

Re: Bitcoin Cash deals frozen as insider trading is probed

#43

Post by etr-strike »

victor106 wrote: post #40
etr-strike wrote: post #19

Earlier quoted context omitted.

Bitcoin is as real as the USD. At least with Bitcoin you know what the properties of your currency are. The Federal Reserve doesn't even publish the amount of M3 money anymore: https://www.federalreserve.gov/releases/h6/discm3.htm If that doesn't give you pause, I don't know what will.

> The Federal Reserve doesn't even publish the amount of M3 money anymore: except they do. See below. https://fred.stlouisfed.org/series/MABMM301USA657S I am not anti-crypto. I think in the future most transactions would move there. But the state of the current crypto's won't get us there. If you close your eyes for a min and just think about the .com bust that is exactly what is happening here. I know of companies d…

Hmm I'm confused in that case. Did the Fed start publishing it again? The link I provided is to the official Federal Reserve website clearly stating they are discontinuing the publication of M3.

Re: Bitcoin Cash deals frozen as insider trading is probed

#44

Post by zepolen »

etr-strike wrote: post #39
matchcohnn wrote: post #21

Earlier quoted context omitted.

> Bitcoin allows me to be my own bank Thanks suckers for giving me your warm wallet.....time to fake a hack and shut down this sucker. > The rules of consensus define characteristics of money I believe are important My $20 request to get on the blockchain STILL isn't done after 5 weeks!!! > It allows me to save my money outside of the global financial system Oh no my Xcoin crashed 50% today!! > a system I believe is…

> Thanks suckers for giving me your warm wallet.....time to fake a hack and shut down this sucker. Anyone who appreciates the properties of bitcoin is using a cold wallet. The cold wallets available on the market today are quite robust and easy to use. I'd recommend trezor. > My $20 request to get on the blockchain STILL isn't done after 5 weeks Here's a recent transaction I made using Segwit just today. Confirmed wi…

$12 fee? That's terrible.

Re: Bitcoin Cash deals frozen as insider trading is probed

#45

Post by notyourday »

thisisit wrote: post #11

When Coinbase launched Bitcoin Cash at 17:20 PST (01:20 BST) it was valued at about $3,500 (£2,612) per coin. At the time it suspended it, the company was quoting a price of about $8,500. Trade of Bitcoin Cash was frozen just four minutes after it began on the firm's Global Digital Asset Exchange (Gdax) and existing orders were cancelled. So the prices more than doubled in just 4 minutes. It might not even be a case…

Coinbase software does not do basic market unlock?! Is it another company that did not get anyone from Island or InstaNet or Brut?

Re: Bitcoin Cash deals frozen as insider trading is probed

#46

Post by avenoir »

wjoe wrote: post #25
thisisit wrote: post #11

When Coinbase launched Bitcoin Cash at 17:20 PST (01:20 BST) it was valued at about $3,500 (£2,612) per coin. At the time it suspended it, the company was quoting a price of about $8,500. Trade of Bitcoin Cash was frozen just four minutes after it began on the firm's Global Digital Asset Exchange (Gdax) and existing orders were cancelled. So the prices more than doubled in just 4 minutes. It might not even be a case…

While it's valid to question insider trading in cryprocurrency, I don't think that's what made the difference here. Coinbase had said they would add BCH to their exchange before the end of the year months ago. And people had noted BCH appearing in their API a day or two ago, and then the trading pages were up for an hour or two before the official announcement, with some very large orders being placed in advance of t…

Bitcoin price started to tank on December 18th @ 00:00 UTC while BCH started an up-climb at right about the same time. This could be explained by the anticipation of the announcement from Coinbase. But then shortly after Coinbase stopped all trades for BCH, I saw this on Twitter [1]. I don't know, but this last bit is definitely looking very odd.

[1] https://twitter.com/whalepool/status/943279673554894848

Re: Bitcoin Cash deals frozen as insider trading is probed

#47

Post by agentdrtran »

m52go wrote: post #18
matchcohnn wrote: post #10

But but but crytocurrency is so useful right?? 1.) It's just like dollar! Shoot, coinbase won't allow me to trade it for 3 months! Every country is banning it? It went up 20% then dropped 50% today?! 2.) It's just like Visa!! Damn it costs me $500 to send $500 3.) It's just like gold! So rare....oh wait, another crytocurrency just came out with 100M unit of supplies. 4.) It's just like the bank!! Damn another exchang…

If you take the time to learn what's trustworthy, principled, and safe...you won't have any of these issues. Except (2), but that's being worked out right now. Furthermore, it's way too early to compare crypto to established finance. Just because crypto awareness has gone mainstream, doesn't mean it's ready to compete just yet. It's still technology for early-adopters. Those who don't understand that will get screwed…

> If you take the time to learn what's trustworthy, principled, and safe...you won't have any of these issues.

I'm glad my knowledge of Bitcoin will prevent the price from fluctuating.

Re: Bitcoin Cash deals frozen as insider trading is probed

#48

Post by berberous »

notyourday wrote: post #45
thisisit wrote: post #11

When Coinbase launched Bitcoin Cash at 17:20 PST (01:20 BST) it was valued at about $3,500 (£2,612) per coin. At the time it suspended it, the company was quoting a price of about $8,500. Trade of Bitcoin Cash was frozen just four minutes after it began on the firm's Global Digital Asset Exchange (Gdax) and existing orders were cancelled. So the prices more than doubled in just 4 minutes. It might not even be a case…

Coinbase software does not do basic market unlock?! Is it another company that did not get anyone from Island or InstaNet or Brut?

ELI5 market unlock?

Re: Bitcoin Cash deals frozen as insider trading is probed

#49

Post by mitchellberry »

victor106 wrote: post #40
etr-strike wrote: post #19

Earlier quoted context omitted.

Bitcoin is as real as the USD. At least with Bitcoin you know what the properties of your currency are. The Federal Reserve doesn't even publish the amount of M3 money anymore: https://www.federalreserve.gov/releases/h6/discm3.htm If that doesn't give you pause, I don't know what will.

> The Federal Reserve doesn't even publish the amount of M3 money anymore: except they do. See below. https://fred.stlouisfed.org/series/MABMM301USA657S I am not anti-crypto. I think in the future most transactions would move there. But the state of the current crypto's won't get us there. If you close your eyes for a min and just think about the .com bust that is exactly what is happening here. I know of companies d…

> except they do. See below. https://fred.stlouisfed.org/series/MABMM301USA657S

> Source: Organization for Economic Co-operation and Development

St Louis fed is publishing third party estimates there, official reporting stopped in 2007.

Re: Bitcoin Cash deals frozen as insider trading is probed

#50

Post by jerkstate »

I don't have a lot of sympathy for anyone who got burned by this. Anyone who is trading crypto knows that there is a lot of risk. Also, everyone who was paying attention knew that BCH was coming to Coinbase before the end of the year, since September. If you're acting like this is a big deal, put your big boy pants on and/or stop trading crypto.
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