Oh No, Bitcoins Trading <$100... | Page 3 | TigerDroppings.com
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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
58769 posts

re: Oh No, Bitcoins Trading <$100...

quote:

If I had a BitcoinATM in my city I'd use that instead of having to go through the hurdles of getting verified on Gox


But then you would have to take your Spiderman PJs off, get dressed, drive over to the ATM and do the transaction. All for something that is supposed to be done easily online anyway. What am I missing?

I think you are just enamored with the novelty of this monumentally stupid machine.


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21474 posts

re: Oh No, Bitcoins Trading <$100...
quote:

But then you would have to take your Spiderman PJs off, get dressed, drive over to the ATM and do the transaction. All for something that is supposed to be done easily online anyway.


Yea, I had to do pretty much the same thing earlier to put money through BitInstant. Only it was a MoneyGram at CVS. A little more inconvenient.



LSURussian
LSU Fan
Member since Feb 2005
85147 posts

re: Oh No, Bitcoins Trading <$100...
quote:

But then you would have to take your Spiderman PJs off

That line made me .


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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
58769 posts

re: Oh No, Bitcoins Trading <$100...
quote:

Yea, I had to do pretty much the same thing earlier to put money through BitInstant. Only it was a MoneyGram at CVS. A little more inconvenient.


Is there no way to make a conversion from say a checking account to fund it?


LSURussian
LSU Fan
Member since Feb 2005
85147 posts

re: Oh No, Bitcoins Trading <$100...
quote:

Only it was a MoneyGram at CVS

How anonymous were you?


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Oh No, Bitcoins Trading <$100...
quote:

Is there no way to make a conversion from say a checking account to fund it?


Yes. Coinbase allows this. You place an order with them, say for 1 bitcoin at $100. They will initiate an ACH transfer from your bank account. When it clears (takes about 4 days) they will give you the bitcoin you purchased and you can then either store it on their servers or send it to another bitcoin address of your choosing.


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21474 posts

re: Oh No, Bitcoins Trading <$100...
quote:

How anonymous were you?


I wore my spiderman mask...


Waffle House
Virginia Fan
NYC
Member since Aug 2008
2514 posts

re: Oh No, Bitcoins Trading <$100...
quote:

They will initiate an ACH transfer from your bank account. When it clears (takes about 4 days) they will give you the bitcoin you purchased


In the transaction, who is at risk for currency fluctuation? Does the conversion rate lock in at initiation of the ACH?

If I initiate for 1BTC @ $100 and the price 4 days later moves to 1 BTC = $50 do I get 2 BTCs or still just 1? Conversely, if it goes to 1BTC = $200, do I only get .5BTC? 4 days seems like a lifetime.


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Oh No, Bitcoins Trading <$100...
quote:

In the transaction, who is at risk for currency fluctuation? Does the conversion rate lock in at initiation of the ACH?

If I initiate for 1BTC @ $100 and the price 4 days later moves to 1 BTC = $50 do I get 2 BTCs or still just 1? Conversely, if it goes to 1BTC = $200, do I only get .5BTC? 4 days seems like a lifetime.


They offer an option. The default is that the price is locked at the time of purchase, however, you can opt to take the exchange rate risk if you want. (ETA: That exchange rate risk option is a new feature and I don't know how it's been working out or its even utilized much.)
This post was edited on 5/3 at 3:38 pm


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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
58769 posts

re: Oh No, Bitcoins Trading <$100...
Josh how upset do you get in class when a teacher disagrees with you? Pipe bomb mad or revolver mad?


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21474 posts

re: Oh No, Bitcoins Trading <$100...
quote:

Pipe bomb mad or revolver mad?



What is this, the 20th century?

I get anon vs HBGary mad.


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LSURussian
LSU Fan
Member since Feb 2005
85147 posts

re: Oh No, Bitcoins Trading <$100...
From josh's thread on the Poli Board today... LINK

Image: http://b-i.forbesimg.com/andygreenberg/files/2013/05/liberatorforbes1.jpg width = 250


He is going to print his own handgun.....because he can.


Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
58769 posts

re: Oh No, Bitcoins Trading <$100...
Yikes. I was just goofing.


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Vols&Shaft83
Tennessee Fan
Throbbing Member
Member since Dec 2012
26263 posts

re: Oh No, Bitcoins Trading <$100...
Isn't that the kind of gun John Malcovich used in "In the Line of Fire"? Josh is gonna brain some Statist Mother frickers


Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
58769 posts

re: Oh No, Bitcoins Trading <$100...
I thought about that. It also looks like the top off of a 409 bottle.


Image: http://a1468.g.akamai.net/f/1468/580/1d/pics.drugstore.com/prodimg/81916/200.jpg
This post was edited on 5/3 at 4:40 pm


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21474 posts

re: Oh No, Bitcoins Trading <$100...
quote:

Isn't that the kind of gun John Malcovich used in "In the Line of Fire"? Josh is gonna brain some Statist Mother frickers


Good luck tracing it back to me


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BennyAndTheInkJets
Arkansas Fan
NYC / Orange County
Member since Nov 2010
4279 posts

re: Oh No, Bitcoins Trading <$100...
In all fairness to Josh on that one, 3D printing actually will be a huge game changer but the technology still has a way to go.

There are a couple game changers on the technology front from shale, 3D printing, various forms of fuel and various other organic creations through algae, and I've seen some very early outlines for water purification technology that are complete game changers to developing countries. All of these have a ways to go to actually get to the game changing area but the direction is encouraging.


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21474 posts

re: Oh No, Bitcoins Trading <$100...
quote:

water purification technology that are complete game changers to developing countries


Graphene?

My rankings for game changing technology that I know of (not including hydrogen fusion because I think it's too far away to list)

1. Graphene
2. 3D Printing
3. Crypto-Currency.


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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
58769 posts

re: Oh No, Bitcoins Trading <$100...
quote:

In all fairness to Josh on that one, 3D printing actually will be a huge game changer but the technology still has a way to go.


I'm surely not knocking 3D printing. It's very intriguing. And I think within the world of printing it's a game changer. And for other applications also. But it has to become semi affordable and fairly dependable. The good thing about technology is that prices usually decline rapidly after initial introduction to the market.


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21474 posts

re: Oh No, Bitcoins Trading <$100...
quote:

The good thing about technology is that prices usually decline rapidly after initial introduction to the market.


You can get a quality printer for $2,000.

You can get a hobby printer for $800.

The price is driving down fast and the printers are getting increasingly better, quicker.


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