Daily Discussion, June 12, 2019

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16 comments

  1. GuamPolice

    |Author

    Relatively ignorant to all things bitcoin. Use a bitcoin wallet to transfer change I make from playing cards online. For someone who buys/sells frequently, is the following normal?

    I had done two trades on Blockchain.com before my most recent. Transfer to my wallet from card site was almost immediate, sell trade was initiated with funds to be directly deposited into my bank account. Funds came in between 72-96 hours of initiating sell trade.

    On my most recent one, I initiated the sell trade on May 29th. Under order details, first “estimated time of delivery” for funds immediately after submission said Sunday, June 1st. This has extended 9 different times, leading up until yesterday that said Sunday, June 16th. Blockchain.com only gives the option of a priority fee on sells. So I paid $2 on a $200 sell for the SFOX fee, then a bit higher than the suggested min priority fee, another $9, so over 5.0% in total fees for the transaction. 18+ days seems a little ridiculous to me for turnaround time for “priority”.

    I can’t find the transaction on any block explorer. The only thing I noticed is that while the price went up in the duration I was waiting on my last transactions, for this one, it has almost continuously dropped, or dropped and remained stable at that point for the 2+ weeks my sell has been “initiated”.

    Is this typical? Am I to eat the volatility for when the price drops? Not really interested in bitcoin as an investment, and it seems pretty crappy that if the price goes up I have no means of recourse for cancelling and holding on while it appreciates, but if it drops, these transactions can be held in limbo for what seems like an indefinite amount of time.

  2. If you are a retailer that believes in bitcoin, why not put your money where your mouth is? sell your products discounted for lightning payments. so if you normally have a %30 profit margin on your product, sell it for 10%-15% less with lightning. you’ll be encouraging adoption, and if the **** line is true your bitcoin will massively appreciate in 3 years.

  3. HurricaneBetsy

    |Author

    If Bitcoin price is holding steady at these levels, I imagine it will be much higher once it becomes more widely known and adopted.

    That’s a good sign to me for a long-term investment.

    All you day traders have a lot of cojones to try to play this game on a daily basis, I give you a lot of credit. I don’t know what the hell is going to happen day to day.

  4. tomius

    |Author

    What are the advantages of a Coibase credit card? Aren’t fees too high? Why not just use a normal bank?

    I ask because I’m interested but I don’t want to be baited into something that isn’t that good.

    Edit: I understand the amazing things of Bitcoin, but I’m asking specifically about the credit card.

  5. snipizgood

    |Author

    What would happen if a country (USA) or a edge fund decided to short sell bitcoin with a very large level, like 100.000 bitcoins ? Would it be very easy to destroy the price of bitcoin ?

  6. GoldCatch22

    |Author

    Because Satoshi Nakamoto was into crypto (no **** right?) – the name itself could be a encrypted sentence, or an anagram?

    ​

    1. Santa Amok Io Host — (no explanation needed.)
    2. Shoo Satan Komati — (Komati = An indian caste/tradecommunity, engaged in banking, money lending and other business pursuits)
    3. Asia Host Tao Monk — (its true 🙂 )
    4. Kamo As Io Nat Host — (Kamo Bolshevik = an old bankrobber in sovjet)

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