If nobody is selling ( or only a small amount of people) they can pump the price.

Market cap can be 10 trillion, but that doesn't mean 10 trillion is in the system.

There is no real liquidity in the system, if people rushed to get out it would all collapse.

Ie example Bitcoiners want to get out of bitcoin, but rather than fleeing from bitcoin to park funds in tether they decide mostly to go to coinbase where it's all fiat.

So all coinbase would be able to do is pay out a much lower price on bitcoin than the tether price of bitcoin would be at the time, at some point they are going to diverge in a big way once confidence in teether is lost. For now people just sell mostly and sit in tether waiting to buy back in when coins take dumps.

Well that theory seems plausible. Is there any website that goes over the numbers proofing how it would work with the BTC volume at certain times?

I don't know of any but from what I know most of the volume comes from exchanges that operate with tether rather than fiat.

i just wish i could use my credit card for some poker sites, btc is literally the worst for depositing for poker and for some sites its the ONLY option. its like the only thing ive ever seen i can use btc for and i hate it lol.

$300 in btc got me less than $265 on the site to play with.... dope...

i get that its an investment or something for uber rich people, but in terms of use in day to day stuff i just dont get it. id rather use cash, or card, or anything but btc.

Agreed. The only people discussing selling are saying they want to buy back after a crash because last time they took 0 profits and regretted it. Reasonable take, although I'm not sure it makes sense depending on your investment horizon/tax situation.

Couldnt the tether users come from Russia, China or middle east ?

WaterBoil that's hilarious, you play from the USA?

Having been playing poker online for 15 years, BITCOIN is the best thing that ever happened as far as the ability to cash out.

Haven't had to worry about a bounced check in ****in years.

Obviously that's a function of the legal situation but it's still funny to me to actually hear someone complain about what has been a godsend from the perspective of those of us who have been around for a while.

Part 1


I know 100 people, I tell them about the Magic beans I have that will grow and they can climb to heaven only 1 person can climb per Magic Bean. These magic beans are fake my 3 friends and I know it but the other 96 people don't.

I tell them I have 10 Magic beans, so only 10% of them can get to heaven if they wish.

3 OF THE people are my friends and we decide we are going to work together to get the most out of our magic beans.

We start bidding vs each other with fake money, I say 100$ my friend says no 500$ other friend says 1200$ SOLD!!!!!! the other 96 people GO WOW he bought a magic bean for 1200$, and I say Yes he did and there is only 9 LEFT!!!!! The fake winner comes back a few weeks later and tells everyone how ****ing great his bean ride was to heaven. The other people realize that magic beans are running out and they get fomo and start bidding 1300$, I say 1500$, my other friend says 2500$ SOLD. My friend comes back a few weeks later and tells everyone that friend 1 was right, it was a amazing ride well worth the 2500$. I tell the remaining 96 not in on the trick, look now there is only 8 magic beans left. The start bidding again this time no friend is going to win they going to see how high they can get the sucker not in on the scheme to bid for the magic bean. First offer 4000, going once going twice, No 6000$, 7000$,8000$ going once going twice SOLD 8000$. Now my friends and I in on the scheme assume when this guy finds out his beans ain't magic, nobody else is going to buy the rest of the beans, but it turns out this guy who won and wasn't in on the scheme wasn't intending on using the magic bean, he bought it because he knew there was only 7 left and he figured if people were already buying it at such high prices for the bean ride he could buy it and sell it for a higher price to the remaining bidders.



I will finish part 2 later.

Curious how u lost $35 from purchasing such a small amount of btc. If it’s fees there’s certainly better options. If you just got really unlucky with price fluctuations obv that works both ways. You could also lessen this by depositing immediately after purchasing.

He's expecting a double pump cycle, similar to 2013

You mean the same way like your bank? or anything for that matter?

It's massive in China.

BTC is the worst option to pay for anything, probably in the history of mankind. It's slow, you are totally in the dark for minimum 30 minutes to see if your transaction was successful, you have to pay ~$5 to ensure your transaction gets picked out of the mempool, and converting to actual currency costs 3-6% in exchange rates. The only efficacy it has is the facilitation of grey or black market dealings. Everyone has always known this in theory, but it becomes real the moment you actually try and use it. I showed a normie friend how to buy some 2 months ago and he thought it was idiotic, and he's of course correct.

lol

Been using crypto for 4 years and never payed anything close to that. Large majority of conversion to usd was 0%.

Kraken is .16%. Pretty close to 6%

What site is fleecing you? GG gives fair price

Who is GG?

GG poker is all the craze, basically where some of the biggest games been running.

Hear it's a donkfest but if you win too much you get kicked out which is meh

https://en.ggpoker.com/

Ggpoker

guy claims to make 2 mill from bitcoin pays 3-6 percent in exchange fees.

this proves it guys. Everyone can make money in crypto even smooth brains.

You only make profit if you sell lol. But if this thing goes to 250k who's selling?

I deposited BTC to a poker site a few months ago and experienced the exact same thing.

I wonder what the volume of BTC on the blockchain is compared to the volume of BTC on private networks (Coinbase, Robinhood, PayPal, etc.)

Lol hard to keep the lies straight my dude...

A week later you write:

I don't think you can send bitcoin internally on any of them? Or are you comparing onchain transaction volume to trading volume on exchanges?