All Forums | General Discussion

Can anyone in a nutshell exactly explain what Bitcoin is exactly all about?

...
Participants:
Search
Views: 3379
Posts: 100
 
Veteran
Participation Meter
Joined: Mar, 2016
Posts: 1882
Posted: #26
Signs are probably pointing to a serious correction when mom & pop investors are now "on to it".

https://www.reuters.tv/v/lNc/2017/06/02/mom-and-pop-investors-drive-bitcoin-surge-in-asia

 The old addage of a top in the stock market used to be when the shoe-shine boy started talking about stocks indicates a major correction ahead.

Before the housing crash in 2007, 2% of California's population was a real estate agent. When everyone's in it....it's time to sell.
 
Legend
Participation Meter
Joined: Nov, 2001
Posts: 60107
Posted: #27

Quote Originally Posted by Qwan61:

Signs are probably pointing to a serious correction when mom & pop investors are now "on to it".https://www.reuters.tv/v/lNc/2017/06/02/mom-and-pop-investors-drive-bitcoin-surge-in-asia The old addage of a top in the stock market used to be when the shoe-shine boy started talking about stocks indicates a major correction ahead.Before the housing crash in 2007, 2% of California's population was a real estate agent. When everyone's in it....it's time to sell.

I would suggest to you that you can now short bitcoin by buying futures on the CBOE or the CME.

Put your money where your keyboard is, makes some cash.

peace_5

Support your local animal shelter. I am on twitter.
 
Banned
Participation Meter
Joined: Feb, 2011
Posts: 27139
Posted: #28
I like when people say “everyone” is on it. Makes me wonder what their definition of “everyone” is? 

Ask 100 people what they’re using for a NEO wallet. Let me know what their answers are. 

 
Legend
Participation Meter
Joined: Nov, 2002
Posts: 56261
Posted: #29
I'm trying to buy ripple and hard Bitcoin is a good site.  I signed up on Tuesday and here we are on Sunday and my account is still pending verification after giving them my ID, SS number, and a bill to prove residency.  So frustrating
 
Banned
Participation Meter
Joined: Feb, 2011
Posts: 27139
Posted: #30

Here’s a trick that worked for me. 

Go through the process on your phone and on a desktop simultaneously. When you get to the “take a picture” part, take the pictures using your phone through the app on your phone... but leave your desktop open to that page. 

I know, sounds ridiculous... but it does work. 
 
Banned
Participation Meter
Joined: Feb, 2011
Posts: 27139
Posted: #31
And it’s Coinbase, not Bitcoin. Bitcoin is what you buy once you’re verified on Coinbase. But you can’t buy Ripple there, you need to buy Ethereum and transfer that to an Exchange. 






 
Hall of Fame
Participation Meter
Joined: May, 2003
Posts: 28196
Posted: #32
to all of you trump supporters interested in bitcoin, be careful out there 


https://pbs.twimg.com/media/DRV2rBOUQAA0284.jpg:large
 
Veteran
Participation Meter
Joined: Dec, 2006
Posts: 4321
Posted: #33
Quote Originally Posted by Qwan61:

Signs are probably pointing to a serious correction when mom & pop investors are now "on to it".

https://www.reuters.tv/v/lNc/2017/06/02/mom-and-pop-investors-drive-bitcoin-surge-in-asia

 The old addage of a top in the stock market used to be when the shoe-shine boy started talking about stocks indicates a major correction ahead.

Before the housing crash in 2007, 2% of California's population was a real estate agent. When everyone's in it....it's time to sell.

The addage of the shoe-shine boy might be post top (When was the last time you asked a shoe-shine boy anything? and is very post Depression) I think the addage that applies is - When Joe Six-Pack  is tracking The Wall Street Journal - Short the Market.I think that is apropo Covers.com.
 
Veteran
Participation Meter
Joined: Mar, 2016
Posts: 1882
Posted: #34
Exactly what I said would happen IS(not hypothetical) happening. Look at the numbers the gains in the BC will not be as great as the new and upcoming cryptocurrencies.

People ARE shorting BC in a sense by buying alternatives.

https://coinmarketcap.com/
 
Banned
Participation Meter
Joined: Feb, 2011
Posts: 27139
Posted: #35
My wallets are offline. How would a hacker hack a wallet that’s offline? 

 
Banned
Participation Meter
Joined: Feb, 2011
Posts: 27139
Posted: #36
Bitcoin is up 144% in the past month. Really looks like things are slowing down. 

 
Legend
Participation Meter
Joined: Nov, 2001
Posts: 60107
Posted: #37

Quote Originally Posted by Qwan61:

Exactly what I said would happen IS(not hypothetical) happening. Look at the numbers the gains in the BC will not be as great as the new and upcoming cryptocurrencies. People ARE shorting BC in a sense by buying alternatives. https://coinmarketcap.com/

This is the natural ebb and flow of crypto.

BTC goes up, alts don't go up or go down.

Alts go up, BTC remains stable or goes down.

Support your local animal shelter. I am on twitter.
 
Legend
Participation Meter
Joined: Nov, 2001
Posts: 60107
Posted: #38

Quote Originally Posted by vanzack:

This is the natural ebb and flow of crypto. BTC goes up, alts don't go up or go down. Alts go up, BTC remains stable or goes down.

 

What I meant to say here is that BTC is the peggable crypto.  When people want to hedge BTC, they get in to alts which make them go up.  The reverse is also true.

But don't go celebrating your genius just yet.  This is cyclical.

Support your local animal shelter. I am on twitter.
 
Veteran
Participation Meter
Joined: Dec, 2006
Posts: 4321
Posted: #39
Quote Originally Posted by vanzack:

 

What I meant to say here is that BTC is the peggable crypto.  When people want to hedge BTC, they get in to alts which make them go up.  The reverse is also true.

But don't go celebrating your genius just yet.  This is cyclical.


Cyclical??  The CME market has been open 3 days and those are professionals on the other side of the Board. Leverage yourself to riches and prosperity.
You're Touting Hillary in July.
 
Legend
Participation Meter
Joined: Nov, 2001
Posts: 60107
Posted: #40

Quote Originally Posted by 666LES:

Cyclical??  The CME market has been open 3 days and those are professionals on the other side of the Board. Leverage yourself to riches and prosperity.You're Touting Hillary in July.

CBOE was open the week before, and it was going the other way.

Lets see what happens.  Big run on BCash today.

Support your local animal shelter. I am on twitter.
 
Banned
Participation Meter
Joined: Feb, 2011
Posts: 27139
Posted: #41
Yeah BCH has been looking pretty good today and in general 
 
Veteran
Participation Meter
Joined: Mar, 2016
Posts: 1882
Posted: #42
Looks like bitcoin cash is the way to go. Bitcoin.com co-founder dumped all his BC for BCC.

https://www.investopedia.com/news/bitcoincom-cofounder-dumps-bitcoin-bitcoin-cash/
 
Captain
Participation Meter
Joined: Jan, 2017
Posts: 5771
Posted: #43

Thanks to all of you posters for really opening my eyes to this thread and the ins and outs to the Bitcoin question that I asked.

I'm also glad that other posters have gotten some good insight on the subject as well.

When I win Money it's my money and NOT house money
 
Legend
Participation Meter
Joined: Nov, 2001
Posts: 60107
Posted: #44

Quote Originally Posted by 666LES:

Cyclical??  The CME market has been open 3 days and those are professionals on the other side of the Board. Leverage yourself to riches and prosperity.You're Touting Hillary in July.

You sound like a typical sports gambling newbie.  Watch one game, and you are an expert.

Go read up on "difficulty adjustment" and look at what happened about 2 days ago, and then look back at previous difficulty adjustments and peg that to prices.

Then come back and tell me how this isnt cyclical.

Support your local animal shelter. I am on twitter.
 
Legend
Participation Meter
Joined: Nov, 2001
Posts: 60107
Posted: #45

Quote Originally Posted by Qwan61:

Looks like bitcoin cash is the way to go. Bitcoin.com co-founder dumped all his BC for BCC. https://www.investopedia.com/news/bitcoincom-cofounder-dumps-bitcoin-bitcoin-cash/

For today, yes.  But check back in a week.

BCH and BTC have had nearly identical growth since august.  I think they are both right at 500%.

Support your local animal shelter. I am on twitter.
 
Legend
Participation Meter
Joined: Nov, 2001
Posts: 60107
Posted: #46

What is going on right now is very interesting.

This happened also back in November.  It is an orchestrated attack on BTC.

Look at this site:  https://bitcoinfees.earn.com/

Notice there are incredibly high fees and tons of transactions with very low fees.  These are what is called "spam transactions" as people who want to clog up BTC and drive fees up do a ton of no fee transactions that they know wont be picked up just to clog things up.

At the same time as a difficulty adjustment.

It is really cool to watch.

Support your local animal shelter. I am on twitter.
 
Banned
Participation Meter
Joined: Feb, 2011
Posts: 27139
Posted: #47
Coinbase added Bitcoin Cash. 

They just sent me a notification. 
 
Legend
Participation Meter
Joined: Nov, 2001
Posts: 60107
Posted: #48

Quote Originally Posted by I_Need_A_Detox:

Coinbase added Bitcoin Cash. They just sent me a notification.

Yup.  GDAX also.

Support your local animal shelter. I am on twitter.
 
Legend
Participation Meter
Joined: Nov, 2001
Posts: 60107
Posted: #49

BTC at 16k and crashing

Support your local animal shelter. I am on twitter.
 
 
Legend
Participation Meter
Joined: Nov, 2001
Posts: 60107
Posted: #50

Exactly like the night of Nov 12....  I remember watching BTC hit 6k and BCash something like 3k.

 

Support your local animal shelter. I am on twitter.
All Forums | General Discussion
About Us
Contact Us
Careers
Our Team
Brand
Testimonials
Betting Guides
Sportsbook Reviews
Betting News
Podcasts
Responsible Gambling
Betting Sites
US Betting Sites
Canada Betting Sites
Canada Casinos
Best Betting Apps
Contests
Streak Survivor
King of Covers
Ultimate Race
Office Pools
The Covers community has
810,221
lifetime members worldwide
Covers 30 Years Logo Established in 1995,
Covers is the world
leader in sports
betting information.
21+
Gambling problem? Call 1-800-GAMBLER
Help Privacy Terms of Service Cookies Sitemap Forum
Covers is verified safe by:
Evalon Logo Logo GPWA Logo GDPR logo Logo GeoTrust logo Logo PCI DSS logo Logo
Copyright © 1995 - 2026 Genius Sports. All Rights Reserved.
If you choose to make use of any information on this website including online sports betting services from any websites that may be featured on this website, we strongly recommend that you carefully check your local laws before doing so.It is your sole responsibility to understand your local laws and observe them strictly.Covers does not provide any advice or guidance as to the legality of online sports betting or other online gambling activities within your jurisdiction and you are responsible for complying with laws that are applicable to you in your relevant locality.Covers disclaims all liability associated with your use of this website and use of any information contained on it.As a condition of using this website, you agree to hold the owner of this website harmless from any claims arising from your use of any services on any third party website that may be featured by Covers.