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Who here is messing around with Crypto's?


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I’d be taking your money and buying before the regulators step in and make it all worthless

 

I don't think I'll care about losing $60, I've lost way more at the casino and not had as much fun.

I'll keep riding the bike till the wheels fall off :bike2:

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Who here is messing around with Crypto's?

 

Loooool!

 

https://mobile.twitter.com/chrisbhoffman/status/950861459302445056/photo/1

 

No wonder Kodak went broke. Check out their earnings forecasts. They're either marketing this to people with no idea OR have no idea themselves. I wonder how well their legal agreements are for the product as it would surely result in a case action when they aren't earning a single dollar within 3 months!

 

Ironic that they use the line "in math we trust" when they cant do any themselves!

 

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Just to think that if we joined the bandwagon back when bitcoin started and invested just $10, that's 1000 Bitcoin, today it would be worth $21,146,000.

 

It just makes the mind boggle when you realise that there were people investing $1000 - $10,000+ in bitcoin from its inception.

 

So if you had invested $10,000, what would you do with your new $21,146,000,000 windfall?, is it enough?, would you bother with crypto currency anymore?

 

I think after I recovered from hyperventilating, I would pay it forward for a while until it came down to a amount that I knew would still outlast me.

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Who here is messing around with Crypto's?

 

Lol the number of times I'd thought about that is ridiculous. The main problem with a value that large is getting it out and into fiat. You think the exchanges are going to let you take that sort of cash out? They don't have it!

 

Even when they do have the cash they have limits. Ie you have to directly contact coinspot for larger transaction amounts (I'd already looked at this when I was going to cash out into aud).

 

Best way i figured is private large sales. I'd heard a few other guys with large holdings did it this way. Still highly risky so you'd have to do something like escrow.

 

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Lol the number of times I'd thought about that is ridiculous. The main problem with a value that large is getting it out and into fiat. You think the exchanges are going to let you take that sort of cash out? They don't have it!

 

Even when they do have the cash they have limits. Ie you have to directly contact coinspot for larger transaction amounts (I'd already looked at this when I was going to cash out into aud).

 

Best way i figured is private large sales. I'd heard a few other guys with large holdings did it this way. Still highly risky so you'd have to do something like escrow.

 

Sent from my iPhone using Tapatalk

 

you must have a shit load of this stuff.

Surprised Coinspot have low limits, as they are essentially a broker for a number of Bigger exchanges, obviously they would cash out millions,

But I wouldnt imaging 10 bitcoins would be too hard for them or the exchange they broker.

thats really annoying, I guess you have to pull them out slowly

 

Is it that they let you sell but its slow for money to go into your bank?

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Nah I wish I had that sort of coinage! It's not enough to retire on (damn it!) but enough to care about how to get it out quickly if needed.

 

Once the price went $10k+ I decided I should really get all my processes down. I could barely remember how to transfer coins around and how to figure out the best way to calculate a reasonable transfer fee.

 

I'd say I'm pretty IT literate and I'd find it quite a challenge to document the cold storage to fiat process to someone that isn't.

 

 

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If I only invested $10 back when they were 0.01 ,I wouldn't care how long it took to hit my account, I would still be pinching myself each morning :D

 

Would you have held until today though?

 

Most wouldn't have, and many people didn't around the $800 mark Pre mt.gox collapse.

 

Say you bough 1000 coins way back as you said.

 

It hits $1000 per coin. Would you have cashed out then and there?

 

In hindsight you would say no, but in reality if you could have 1 million in cash wouldn't you have done it?

 

This is the conundrum we're in. Profit now and lose possibly massive gains in the future or hold and possible lose that value when they're worthless?

 

I had gaming friends of mine say I should have cashed out at $500. They said banks/governments would come in a regulate/make it illegal etc. In the past few years none of that has come to pass but doesn't mean it couldn't.

 

 

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Would you have held until today though?

 

Most wouldn't have, and many people didn't around the $800 mark Pre mt.gox collapse.

 

Say you bough 1000 coins way back as you said.

 

It hits $1000 per coin. Would you have cashed out then and there?

 

In hindsight you would say no, but in reality if you could have 1 million in cash wouldn't you have done it?

 

This is the conundrum we're in. Profit now and lose possibly massive gains in the future or hold and possible lose that value when they're worthless?

 

I had gaming friends of mine say I should have cashed out at $500. They said banks/governments would come in a regulate/make it illegal etc. In the past few years none of that has come to pass but doesn't mean it couldn't.

 

 

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Your right I would have cashed out, but I don't think I would have cashed them all out.

 

I am one of those people when I get back what i'm owed, a little profit i'm happy, never really been greedy, I think I would have left a heap in and just let it go just to see how far it would go.

 

I have coinspot set up now with 2 accounts, 1 is my sons the other is the one i'm playing with, my sons one we just bought coins out of the money I have already made with my account, and we are just leaving them, if they crash and burn so be it, we will see how far they go.

My one we will buy and sell and generally just play around with it to see how far we can improve with guesswork , in 6 months we will see which is the best performer and move forward with that plan.

 

Ill let you all know if we are going to retire or buy 2 minute noodles to eat.

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I am one of those people when I get back what i'm owed, a little profit i'm happy, never really been greedy, I think I would have left a heap in and just let it go just to see how far it would go.

 

And this is exactly where I'm sitting right now ;)

 

Can anyone explain the following on coinspot ( https://coinspot.zendesk.com/hc/en-us/articles/115000118294-Are-there-limits-to-selling- )

 

"There is no limit to how many coins you can Buy/Sell per day.

 

However there is a $5,000 AUD limit per Buy/Sell order."

 

Yet on the market pages I can see sell orders in excess of $20k.

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And this is exactly where I'm sitting right now ;)

 

Can anyone explain the following on coinspot ( https://coinspot.zendesk.com/hc/en-us/articles/115000118294-Are-there-limits-to-selling- )

 

"There is no limit to how many coins you can Buy/Sell per day.

 

However there is a $5,000 AUD limit per Buy/Sell order."

 

Yet on the market pages I can see sell orders in excess of $20k.

 

I just went to buy $5 worth of dent coin and it would not let me, it said there is a minimum of $10 and a maximum of $2000 :unsure

Just tried again and now buying is temporarily disabled:unsure

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I just went to buy $5 worth of dent coin and it would not let me, it said there is a minimum of $10 and a maximum of $2000 :unsure

Just tried again and now buying is temporarily disabled:unsure

 

Yer Im getting the shits with Coinspot, Im almost cashed out except for a few coins left, I will be waiting for the next pump and Im going elsewhere.

I was going to put $5 on some coin for shits and giggles while its cheap at the moment they refused to take it so Im not bothering by putting more on.

Im going to transfer all my funds to my bank now and put it towards my holiday, Ive cashed out all my original money I put in and a large majority of my profits, I just left a few hundred on some coins that was bought on the rest of the profit, I might start an account else where and pull them across and hope to make some more profit from that.

If I dont big deal, as over the last 10 days Ive slowly cashed In $1800 off my $500 investment and still have a few hundred $ (at current value) left in coins I didnt cash in before that big dump.

However Im just very annoyed with how Coinspot is acting lately.

I was originally going to completely cash out, but I figure I am going keep some coins just encase I can grow it some more but I doubt I will be using coin spot for much longer.

 

I dont know what coinspots deal is, they have been completely unfair bastards the last two weeks and getting worse

 

But over all its been fun and interesting experience, If I had more time on my hands Id keep going with the full amount but Havent had a great deal of time lately. So Ill just leave the remaining coins and Hodl long term, it will be interesting to see if that pays off or not

Edited by jason1
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It's because of the tightening regulation. South Korean exchanges gone. China ban. More to surely follow.

 

coin spot being Greedy pricks has nothing todo with that,

However the big dump that happened was because of that, but we all knew that was happening, its not like it wasnt unexpected most of us have known for weeks South Korea was closing exchanges, but will it stop Koreans trading else where?, there is plenty of threads around where they are talking about how to trade outside of Korea.

If its closed People will have no choice or a huge population of Korea will be bankrupted by those actions

Edited by jason1
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What a blood bath :o :cry :blink:

 

Some bargains around this morning if you're game

 

Oh yer, Not good for those who played big late.

Im so glad I had been cashing out the main majority of the coins, only reason I was cashing out is because of coin spot, maybe they did me a favor by pissing me off lol

 

as for drop, you gotta love government Interference, If they cant make money on something they go out of the way to kill it.

If the Korea Government Does happen to Make bitcoin crash, They will put a huge number of their own people on the streets, Its very mainstream over there compared to the rest of the world where its more an underground trading platform.

I just wonder if the Korean Government has any idea what impacts it could have on their economy, as the horse has already bolted and IMO they acted to late in regulations.

 

It is also interesting that The President of south Koreas approval rating has dropped dramatically in the polls after the crackdown apparently.

 

It was always been and should be considered a volatile and risky thing, but It is stupid that they just pull the rug from under peoples feet the way they have.

Edited by jason1
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