Crypto thread

True story. I had cashed out from one of my books offshore last week and requested a check via Fed Ex. Over the weekend my book called my cell phone (I didn't answer, never do on #'s I don't know) and then an hour later emailed me. They offered me a substantial bonus on my withdrawal IF I would take my payment at that time via Bitcoin. I declined and noted that Bitcoin was currently $8,798 on Coinbase. 

So the question is, do the sportsbooks have inside information? Or do the books have so much bitcoin that they are getting nervous holding so much as the price drops? 

Either way, it's extremely coincidental that Bitcoin shed 16% of its value after that phone call. 

This opens up an interesting dilemma for all sportsbook players, regardless if you own bitcoin or not. Even if you have zero bitcoin, the sportsbooks own a lot of it. If Bitcoin tanks, anyone with $$$$ in any sportsbook could suffer from it. I had never suspected that I myself have Bitcoin risk because I don't own any....but indeed I might have Bitcoin risk after all. 

Yes. I would suppose that they have a substantial amount of Bitcoin at very favorable prices. However, anyone that deposits with them with Bitcoin will deposit at the price of that day. Thus, the book is subject to losing value on the Bitcoin they recieve that day or period of days, weeks or months, independent of the tremendous profits they enjoy from early entry at 1k. 

The inevitable concept of greed does not need to be proven. I believe that the books might have been suffering from a case of cognative dissonance when they get on the phone trying to peddle Bitcoin. Certainly, I was not the only player that got a phone call right?

What is the best exchange, there’s a plethora of information out there, but tough to decipher all of it, so figured I would go to you guys. Can it be traded in real time, from what I heard some are pretty delayed. I like the wild swings, should be a fun gamble to play in. 

Isnt Binance based out of China? I thought I read it was...and if that is the case what does it mean given the governments massive crackdown unfolding as we speak?

Selling resumes it seems, BTC below 6500 ETH 650 XRP at .65 etc etc

These seem like big drops but still most are much higher than just a few months ago.

Back over $8,000. It seems that Bitcoin has found a tradable range. 

I think it is clear that a profitable trading range can be achieved in the 6-10k range. The 6k floor seems to have ample support. Now that all of the frenzy is over, it will be interesting to see if fresh money can push Bitcoin higher. Once again, I will have to see it to belive it.

Unlikely....I've been in and out of some pot stocks recently...only one was a winner...Unless you're holding some in your hand and want to share, you'd be better off in cyrpto, particularly now...markets crawling upward...rather the crawl than the spikes we've seen.

Holding XRP and ETH.

Your bullishness is being rewarded Detox! Bitcoin is pushing 10k once again. The 6-10k trading range will now certainly be tested on the 10k side. 

On a side note, some here might find the article from Business Insider interesting, comical and for sure entertaining. The gist of the article deals specifically with the exorborant fees being charged at Bitcoin ATM machines. The national average fee for purchasing bitcoin from ATM's is hovering near 9% and sometimes much higher depending on the machine location. 

While the writer is purchasing a non-consequential amount of bitcoin, the article does make an excellent point about the impractibility of bitcoin as a currency in its current state of evolution. Even using coinbase, the fees make the use of Bitcoin impractible as a currencey. Bitcoin may be a store of value, but it's volatility makes it an inefficient store of value. 

https://www.businessinsider.com/buying-bitcoin-from-las-vegas-atm-2018-1