Where are my bitcoins CoinBase? SHAPOW!

lukep said:
I'm making awesome progress, thanks.

In a bitcoin-only business that I've started up.
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No offense Luke, but you clearly didn't learn your lesson after that Adsense bomb. You went all in on Adsense and finally ended up burned after you got too comfortable.

Why not diversify and start another business outside of bitcoin in addition to your existing bitcoin business?
 


bluechinagroup said:
mGrunin has quite a lot of money to throw around and this is a drop in the bucket for him. Also he covered his bases well since he knows how to do an ACH chargeback.
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Definetely. Just wondering how he can invest in something like this, with all the delays and instability.
 
AlwaysAbove said:
Definetely. Just wondering how he can invest in something like this, with all the delays and instability.
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It's possible he didn't realize the delays were this bad. Especially since all Lukep does on here is sugarcoat all the negative stuff about bitcoin and hype it up like it's the best thing since sliced bread. I think this mislead a lot of people.

The instability wouldn't be nearly as problematic if you could buy bitcoins relatively quickly. If the exchanges were competent, it would be relatively quick to buy bitcoins with ACH.

Besides mGrunin has a solid exit strategy in place, since he planned to be prepared to do an ACH chargeback well in advance.
 
bluechinagroup said:
It's possible he didn't realize the delays were this bad. Especially since all Lukep does on here is sugarcoat all the negative stuff about bitcoin and hype it up like it's the best thing since sliced bread. I think this mislead a lot of people.

The instability wouldn't be nearly as problematic if you could buy bitcoins relatively quickly. If the exchanges were competent, it would be relatively quick to buy bitcoins with ACH.

Besides mGrunin has a solid exit strategy in place, since he planned to be prepared to do an ACH chargeback well in advance.
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I bought several bitcoins in ~5 minutes earlier.

The exchanges are slow, but the market places aren't.
 
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the amount of analysis you are putting in it is ridiculous...it's been around for 3 years, follows no pattern other than "rumors" and "pumps and dumps". I have a few, but if you try to break into the guts of it, you're wasting your time currently.

It's speculative, and the .00001 of the world that owns any is in for a real treat, or the money goes up in smoke.
 
bluechinagroup said:
Bitcoin is a fucking joke.
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It seems that you behave out of hatred and personal revenge toward LukeP. Instead start thinking, acting and writing with reason and logic. And most importantly, before making such a statement, read up on Bitcoin, understand the system and learn about their intentions.

Else such a statement makes you look like a pathetic whiny baby that strives for the worst to happen to something he does not want, and can not, understand.
 
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Cigar said:
It seems that you behave out of hatred and personal revenge toward LukeP. Instead start thinking, acting and writing with reason and logic. And most importantly, before making such a statement, read up on Bitcoin, understand the system and learn about their intentions.

Else such a statement makes you look like a pathetic whiny baby that strives for the worst to happen to something he does not want, and can not, understand.
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My criticism of bitcoin have been the following:

liquidity problems
exchanges with non existent support
exchanges who deliberately delay bitcoin payouts
extreme difficulty in depositing funds
unstable market with constant boom and bust cycles


These are all logical and rational criticisms of bitcoin. Until these issues can be resolved, bitcoin is a joke. It's hard to take bitcoin seriously when exchanges are run so unprofessionally.

Also I don't want LukeP to lose his shirt. I simply feel that he suffers from a lot of confirmation bias. My opinion is I think he should diversify his business interests into other ventures besides just bitcoins.
 
bluechinagroup said:
My criticism of bitcoin have been the following:

liquidity problems
exchanges with non existent support
exchanges who deliberately delay bitcoin payouts
extreme difficulty in depositing funds
unstable market with constant boom and bust cycles


These are all logical and rational criticisms of bitcoin. Until these issues can be resolved, bitcoin is a joke. It's hard to take bitcoin seriously when exchanges are run so unprofessionally.
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Those are problems with the exchanges, not with bitcoin. Just like problems with boo.com were a problem with a website, not the internet.

People need to chill. Understand that this is all experimental and outside the regulatory framework, so the "sticks" that govts wield to make sure customers don't get ripped off arn't there. Plus lots of the exchanges were literally started by one person, and they didn't expect a flood of people coming in believing it would all work like the NASDAQ from day 1.

Personally I think it's a fun experiment, and if you understand that it's operating in a parallel world outside of mainstream regulation, it's a fascinating insight into how a world with no regulation and existing infrastructure works. All the infrastructure is being built from scratch - it's a bit like Manhattan in the 1600's - just a hostile piece of granite. I think the problems people cite are due to them going in expecting all the extreme profits of an unregulated world with none of the downsides, which is naive to say the least.

Also - resist the urge to "trade" - traders tend to lose their shirts whether they trade penny stocks or oil or bitcoins. Buy and then hold, and enjoy the whole experiment. And only buy with fun money that you won't miss if you lose.

Who knows, it might be like the Rockefellers bagging a bit of granite and finding out it turned into New York - or it might turn out to be nothing but an "experience" except more exciting than a weekend bender. Just enjoy it and don't fret too much.
 
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groneg said:
Where do you purchase and how much of a premium are you paying above curr price?
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You can buy in (almost) real time on VoS, but the spreads are not conducive to pumps/dumps since the liquidity isn't there. No bullshit, this morning I saw a spread on btc-e of about $1, and on VoS it was around $85 lol. Hard enough to time markets without adding in enormous spreads between the bid/ask prices.
 
teatree said:
Those are problems with the exchanges, not with bitcoin. Just like problems with boo.com were a problem with a website, not the internet.

People need to chill. Understand that this is all experimental and outside the regulatory framework, so the "sticks" that govts wield to make sure customers don't get ripped off arn't there. Plus lots of the exchanges were literally started by one person, and they didn't expect a flood of people coming in believing it would all work like the NASDAQ from day 1.

Personally I think it's a fun experiment, and if you understand that it's operating in a parallel world outside of mainstream regulation, it's a fascinating insight into how a world with no regulation and existing infrastructure works. All the infrastructure is being built from scratch - it's a bit like Manhattan in the 1600's - just a hostile piece of granite. I think the problems people cite are due to them going in expecting all the extreme profits of an unregulated world with none of the downsides, which is naive to say the least.

Also - resist the urge to "trade" - traders tend to lose their shirts whether they trade penny stocks or oil or bitcoins. Buy and then hold, and enjoy the whole experiment. And only buy with fun money that you won't miss if you lose.

Who knows, it might be like the Rockefellers bagging a bit of granite and finding out it turned into New York - or it might turn out to be nothing but an "experience" except more exciting than a weekend bender. Just enjoy it and don't fret too much.
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So much this.
 
This should clear up some of your questions about why things take so long and how they handle reserves/price locking.

[ame="http://www.youtube.com/watch?v=ZwG1roO70co"]Foundation 35 // Brian Armstrong - YouTube[/ame]
 
I was so against the thought of bitcoin. It didn't make much sense to me. I would read lukep's post and be like WTF is this guy talking about (I still think he is crazy). I started to do my own research about bitcoin. The concept is amazing when you really think about it and how it can change ecommerce and commerce in general. Sending payments with zero or very very small fees is very appealing. When I finally bought bitcoins and began using them I liked them even more.

Crypto currency is such a new concept. No one knows where it will go. In 10 years from now you could be like "Damn I wish I bought some bitcoins" or be like "I'm glad I didn't buy into the whole bitcoin craze". It really could go either way. You might buy a bitcoin today and 10 years from now buy a house with it. It sounds crazy but if enough people put money into it and trust it as a currency then that's what will happen to the price of it. It's exciting either way and I look forward to seeing what happens to bitcoins and altcoins in general.

Bitcoin of course has problems but people act like these problems can't be solved. With any new industry there is always going to be problems. That's why when an industry matures these problems get worked out. The banking industry through the ages has had tons of problems and still has problems. But they try to fix everyone they can.

When you think 50 years ago Frank Abagnale stole $2.8 million. All he did was forge checks. That's pretty easy to do. Of course over time they have corrected problems like this from occurring. Things on the internet and the advancement of technology make changes in industries much more rapid.

To echo what others have said. Bitcoin is just speculative seeing people bet their whole life savings into it is like going to Vegas. Yea you could hit it big but why do you have to gamble it all? Just speculate what you don't mind losing.
 
I'm going to try and not start a new thread for this, but how does an Austrian citizen purchase bitcoins? I have an Austrian friend trying but he says most of the exchanges don't allow it.

I think he might just be looking in the wrong place.
 
Cut said:
To echo what others have said. Bitcoin is just speculative seeing people bet their whole life savings into it is like going to Vegas. Yea you could hit it big but why do you have to gamble it all? Just speculate what you don't mind losing.
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speculate what you dont mind losing to earn what you dont care earning?
 
dude what kind of fuckin stalker are you. do you have like alerts set on posts by me?
 
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