RIP Bitcoin

**Ukan Kizmiaz** · 11-01-2018, 07:23 AM

The smart may be in making hardware wallets - like the nano - they are sold out everywhere in Oz.

**Luigi** · 11-01-2018, 07:27 AM

I'd be making a BTC blockchain that only charges 70% for transferring in and out of one, as opposed to the 80% I got raped for.

**Luigi** · 11-01-2018, 07:29 AM

Originally Posted by Ukan Kizmiaz

The smart may be in making hardware wallets - like the nano - they are sold out everywhere in Oz.

Reports of the same in the US.

This kinda thing, along with trading platforms such as Binance and Bittrex having to suspend registrations due to the huge demand of people wanting to get in and buy, indicates that there's still a good bit of time to go before it all crashes and burns.

**Ukan Kizmiaz** · 11-01-2018, 07:34 AM

Actually there is one company here selling them - for AUD284 - everywhere else have them listed at around AUD120-30.

Thieving cunts!
It seems every asshole is out there trying to screw $$ out of the honest and hard-working TD crypto traders who are just trying to put food on the table for their wife and kiddies....

**Luigi** · 11-01-2018, 07:52 AM

Fight The Power!

Urine for breakfast and 10000% gains without fees. Can I get an AAAAAAAAAA-Men!

**bsnub** · 11-01-2018, 08:35 AM

I misjudged the bottom of that correction. I bought in to XRP to high and it tanked again along with Cardano. I sold them both off and cut my losses. Did a couple of short buy and sells and then I found VIBE. It had just been released on Binance. I rode that one and am now just ever so slightly up. Gonna have to devise a new strategy for what may be coming next.

**jabir** · 11-01-2018, 08:36 AM

Originally Posted by Dillinger

^^^From what Ive seen its only Jabir who has admitted to any loss and pointed out any pitfalls.

The rest of them are slagging off apps that show 20% cheaper coins, drinking gold label and riding rollercoasters and black hookers

Well I must confess I got it right, and very wrong...

For my first 3 weeks I used bx mostly as a portal to binance and other exchanges. I would deposit into bx, buy ETH and immediately transfer to other exchanges to buy alts. This effectively converted my thb into $$ but at a cost of 12-15% sometimes more, depending on the spread. Overall losses just on this procedure was around 300k, which means it cost me around 100k/week (+trading/spreads/transfers etc) just for access to other exchanges!

Luigi put me right on this, and from here my strategy will change. All of those losses could have been avoided by staying entirely within bx, the downside being a very limited selection of coins and having no access to and therefore missing out on lots of easy money. On the plus side, those early conversion losses gave me access to the other exchanges, the 300k has been recovered with me still comfortably in the green, and the $$ I have on other exchanges are able to generate more $$.

It's difficult to guess the state of my portfolio if I had stayed with bx only, but that's history and the $$ I have elsewhere are still active, so it worked out well with a lesson learned.

Thanks to all for contributions esp Baldrick, Snubby for TRX (my first 10x!), and the Stallion for that lesson.

**bsnub** · 11-01-2018, 08:54 AM

Originally Posted by jabir

Snubby for TRX (my first 10x!)

Cheers! Glad you got something out of that TRX fiasco. I was lucky that I got out of it with a small profit. The sting is that I could have doubled my money if I would have sold the night before Justin's disastrous live stream.

**Dillinger** · 11-01-2018, 09:05 AM

Originally Posted by Luigi

Set up my Nano Ledger S.

Set up the pin.
Note down the 24 word recovery phrase.
download the Chrome App Extension.

Tested it out with a transfer of 0.033 BTC from my coins.co.th wallet to the Nano BTC wallet.

Coins the thieving cooonts charged 0.009969BTC. That's 4,383thb for a Wallet to Wallet transfer of 14,508 thb.

Koonts.

Is it going to be the same for all the cryptos (ETH, DAS, REP et al) on my BX.in.th account? Lose a fookin' third to transfer to another wallet?

So whats the moral of the story?

And what wallet should I get?

**Maanaam** · 11-01-2018, 09:09 AM

Originally Posted by jabir

Overall losses just on this procedure was around 300k, which means it cost me around 100k/week (+trading/spreads/transfers etc) just for access to other exchanges!

Economy of scale. If you're only making 1% overall (for example) then invest more. Doesn't matter if the exchange charges 50% and you're left with only 1%.
If it wasn't a gamble, which it is.
Warren Buffet yesterday has said crypto is going to crash and that he has never shorted on it, and never will.
That statement alone could start an avalanche.

**Maanaam** · 11-01-2018, 09:12 AM

Originally Posted by Dillinger

So whats the moral of the story?

Listen to The Sage of Omaha. Twenty to one he's got better insight than anyone on TD.
(cf ^)

**jabir** · 11-01-2018, 09:25 AM

Originally Posted by Luigi

The answer, thankfully, is no.

It's only coin.cunts.th

BX only deduct a set amount (0.005) so for ETH that's around 261thb. Go to transfer 10 ETH and it lists the amount to receive as 9.995

Just to clarify, that fee is per transfer not per coin.

**Headworx** · 11-01-2018, 09:27 AM

Originally Posted by Luigi

Bitcoin Cash back up in this biatch.

22% in the last 24 Hrs.

Noticed that, as it's my largest holding. By far.

Would put an emicon of a cartoon figure having a wank here, but that would just be childish

**jabir** · 11-01-2018, 09:28 AM

Originally Posted by Luigi

Wait a minute!

So when I go to transfer that 14k of BTC back to an online wallet to sell, they're gonna take another 4k baht off it??

So I'll get 10k back to sell and they'll get a total of 8k baht off my two wallet-to-wallet transfers?

8k in fees to transfer and sell what will be 10k??

That's a fookin' good ol' rort innit!!!

Who the fook invented this fookin' scammin' system of complete and utter thievery!

I don't think so. The transfer you made to your nano was a withdrawal, theirs was a withdrawal fee; there should be no fee for deposits, so when you transfer back online to cash in you should be paying the trade fee to cash then cash withdrawal.

**Luigi** · 11-01-2018, 10:46 AM

Originally Posted by jabir

Luigi put me right on this, and from here my strategy will change. All of those losses could have been avoided by staying entirely within bx, the downside being a very limited selection of coins and having no access to and therefore missing out on lots of easy money. On the plus side, those early conversion losses gave me access to the other exchanges, the 300k has been recovered with me still comfortably in the green, and the $$ I have on other exchanges are able to generate more $$.

The thing is, you make up that loss when you transfer them back to ETH, and transfer that back to BX to sell.

You lose 20% of the ETH value when you transfer from BX to (say) Binance.

.........But then when you transfer that ETH back to BX, you make that 20% back.

Buy 50k on BX, transfer to Binance, it's only worth 40k on there.

Transfer that 40k back to BX and it's worth 50k again, because that's what people are buying/selling at.

So you lose the value on the transfer out, but gain the loss back when you transfer back in to sell.

Figure out how to buy on Binance at their rate, then transfer to BX to sell at their inflated rate, and yer sorted Guv'.

**Ukan Kizmiaz** · 11-01-2018, 10:51 AM

the market is taking another dump from where I'm sitting. Fuckity fuck.

That mouthy Jimmy Buffet [at][at][at][at] is a smart cookie - penned a few good songs too!

**Luigi** · 11-01-2018, 10:55 AM

Yup, tiz having a fart after breakfast.

**jabir** · 11-01-2018, 10:58 AM

Just transferred some ETH to Nano...about 5 mins since bx confirmed it sent, not received yet...fffs!

**Ukan Kizmiaz** · 11-01-2018, 11:05 AM

is now the time to put more money into the market???

**PlanK** · 11-01-2018, 11:09 AM

A lot of uncertainty in Korea. They've been doing Spanish inquisitions on Exchanges and announced they will be making a bill about crypto to pass through government.

In other news a Bitcon conference say they have stopped accepting BTC as payment because it's shit. (or something like that)

**Luigi** · 11-01-2018, 11:14 AM

Great.

Go make a cup of coffee, come back and there goes 20 grand.

Gonna have Tezza's head of hair by the end of the year for sure.

**jabir** · 11-01-2018, 11:22 AM

arrived!

**Luigi** · 11-01-2018, 11:24 AM

Same as yesterday, but a tad quicker.

Took until lunchtime for 12% of my entire portfolio to be wiped out.

Today it only took from breakfast to 11:20.

Toss.

Will probably be back to an all time high by dinner time....

Hopefully.

**Luigi** · 11-01-2018, 11:31 AM

Think it was last Friday me daytrading mate sold XRP @ 113 after jumping up from 80 in a day. It's now 66. Crazy sheeet.

**Ukan Kizmiaz** · 11-01-2018, 11:33 AM

btc is plummeting

Thread: RIP Bitcoin

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