Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto - page 2.

MatTheCat

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Quote from: ?? on ??

Did you get your funds from bitstamp?

Ah, erm........ Undecided

No, I have not. They want me to prove from where I got my money from to begin with, before they give me my money back. Money which they had no problems accepting in the first instance. I told them that they have no right to even ask this information, let alone ask for personal documents proving where I get my money from. The case is ongoing but I started out thinking I would withdraw around half of what I have on Bitstamp. I think now I might have to withdraw everything one way or the other. This whole Bitstamp KYC routine reeks of rancid delaying tactic pish to me.

If Bitstamp, the main USD cash out exchange, is also running a fractional reserve Bitcoin exchange as I strongly suspect BTC-e and Bitfinex are, and are in fact insolvent and have started on the same path as Gox, then the whole Bitcoin system is in a lot of trouble. This would entail a whole lot more people getting burned and the price discovery of Bitcoin as defined by exchange rates, rendered totally irrelevant.

Quote from: wachtwoord on March 19, 2014, 11:32:36 AM

If you consider your European bank account save you can't have much to begin with.

Go regurgitate me some more dogma, u fkn parrot.

wachtwoord

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If you consider your European bank account save you can't have much to begin with.

spazzdla

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Quote from: fcmatt on March 18, 2014, 02:02:08 PM

I just wonder how many users here are diversified into other investments, have fully funded their IRAs, outright own their home or cars (meaning pay off loans early, i realize the home is harder), paid off their college loans faster then the bare minimum, pay off credit card debt at the end of the month in full, and otherwise make good choices about money.

Or do we have a lot of younger people who think bitcoin is their path to wealth and that is all they have combined with negative aspects of things I mention above.

I own my car, I have zero debts, I own a lengthy supply of food, I own gold and silver, I own bitcoins.

Debt is the devil.. that is all.

spazzdla

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Quote from: Ibian on March 18, 2014, 12:45:29 PM

Quote from: inca on March 18, 2014, 12:38:12 PM

Do you really think anyone reading this forum is speculatively holding bitcoin as a hedge against USD collapse?

I am, only it is not against the dollar but against the entire fiat economy collapsing. Other circles on the internets, equally as nerdy as this one, see it coming around 2020.

^

I am 100% against a privately controlled monetary system and frational banking.

fcmatt

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I just wonder how many users here are diversified into other investments, have fully funded their IRAs, outright own their home or cars (meaning pay off loans early, i realize the home is harder), paid off their college loans faster then the bare minimum, pay off credit card debt at the end of the month in full, and otherwise make good choices about money.

Or do we have a lot of younger people who think bitcoin is their path to wealth and that is all they have combined with negative aspects of things I mention above.

inca

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Quote from: Ibian on March 18, 2014, 12:45:29 PM

Quote from: inca on March 18, 2014, 12:38:12 PM

Do you really think anyone reading this forum is speculatively holding bitcoin as a hedge against USD collapse?

I am, only it is not against the dollar but against the entire fiat economy collapsing. Other circles on the internets, equally as nerdy as this one, see it coming around 2020.

You are taking quite the long view there ibian! By then at least crypto will either have disappeared under the waves or emerged fully.

Matthecat: retard denialist $900 bag holder?

I did most of my buying in the march/april runup last year, held, bought more in november held, and will continue to trickle buy a few each month as a relatively small speculative position in a portfolio of assets. I hold because as a punt bitcoin seems worth a shot and may return a few 100% over the next 2-3 years.

You have apparently been on the right side of the market once or twice it seems. But buying in and out like a epileptic means you are likely to end up with precisely the outcome 90% of traders achieve, especially if you continue to use leverage. You are obviously intelligent but it is hard to take you remotely seriously with these pathetic manipulative threads. You come across as a bit of juvenile prick to be frank . Anyway, good luck to you!

Cassius

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Quote from: paulifa123 on March 18, 2014, 03:37:10 AM

Seleme,

You need to stop correlating the English with excessive swearing. Low class, Chav Scum do swear and behave in the manner you suggest (I would include matthecat in this category

) Quality middle class English types know when it is appropriate to swear and use it sparingly and in the correct context....

Absolutely right.
They will also use different terms to reflect their superior upbringing. "Bloody hell". "Arsewit". And so forth.
"Strewth, guvnor" and "Lawks a mercy" might be appropriate to the lower classes who know their place.

Ibian

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Quote from: inca on March 18, 2014, 12:38:12 PM

Do you really think anyone reading this forum is speculatively holding bitcoin as a hedge against USD collapse?

I am, only it is not against the dollar but against the entire fiat economy collapsing. Other circles on the internets, equally as nerdy as this one, see it coming around 2020.

MatTheCat

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Quote from: inca on March 18, 2014, 12:38:12 PM

Do you really think anyone reading this forum is speculatively holding bitcoin as a hedge against USD collapse? Of course you don't.

Do you really believe Bitstamp is insolvent? No of course you dont. Manipulative trash as usual!

Tons of Bitcoin Nutters hold beliefs about Bitcoin and its relation to the financial world that are right down this alley.

Try actually reading through some of the opinions on here before opening your retard denialist bag holder mouth, you grade A holder of $900+ Bitcoins you!

inca

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Quote from: MatTheCat on March 18, 2014, 08:53:24 AM

Quote from: TERA on March 18, 2014, 04:08:29 AM

If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest!

Me and how many more other people who might be feeling the same way?
Are Bitstamp going the way of MtGox?
Are these KYC routines a transaction delaying mechanism? If so, then Bitcoin is fkd.

Do you really think anyone reading this forum is speculatively holding bitcoin as a hedge against USD collapse? Of course you don't.

Do you really believe Bitstamp is insolvent? No of course you dont. Manipulative trash as usual!

igorr

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Ibian

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Quote from: MatTheCat on March 18, 2014, 08:53:24 AM

Quote from: TERA on March 18, 2014, 04:08:29 AM

If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

Be quiet! You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest!

and further to my attempt to take half my funds out of Bitstamp, I got better acquainted with their KYC routine today. 8 questions, one of them in particular I am pretty sure that they have absolutely no right to ask. I have opted to tell them to mind their own business when they asked me for proof of earnings. If they start stamping their feet and witholding my fiat, I shall convert the lot to BTC, cash out on LocalBitcoin, and in the absence of a reliable and trustworthy exchange, that will be me without any route into Bitcoin investment. Are Bitstamp going the way of MtGox? Are these KYC routines a transaction delaying mechanism? If so, then Bitcoin is fkd.

Kraken has verification levels specifically to avoid having to ask nosy questions about peoples private affairs. You deal in euro, maybe give them a try?

MatTheCat

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Quote from: TERA on March 18, 2014, 04:08:29 AM

If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

Shusht!

Be quiet!

You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest!

and further to my attempt to take half my funds out of Bitstamp, I got better acquainted with their KYC routine today. 8 questions, one of them in particular I am pretty sure that they have absolutely no right to ask. I have opted to tell them to mind their own business when they asked me for proof of earnings. If they start stamping their feet and witholding my fiat, I shall convert the lot to BTC, cash out on LocalBitcoin, and in the absence of a reliable and trustworthy exchange, that will be me without any route into Bitcoin investment. Me and how many more other people who might be feeling the same way? Are Bitstamp going the way of MtGox? Are these KYC routines a transaction delaying mechanism? If so, then Bitcoin is fkd.

Ibian

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Quote from: stylin on March 18, 2014, 07:02:46 AM

Quote from: TERA on March 18, 2014, 04:08:29 AM

If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

Doubt it. If fiat currency collapses or hyperinflates, people may start wanting to use BTC to actually buy things, that is start using it as a currency. BTC price in USD will not collapse, it will just become irrelevant as hyperinflation makes it a stupidly high number and people don't bother trading in their $100,000 for .001BTC Tongue

BTC will become "priced" more in food, commodities

If the dollar becomes worth a hundreth of what it is now the price of bitcoin in dollar will increase a hundred times. The value of bitcoin is in purchasing power, the dollar price is just a middleman to make your simple monkey brain able to comprehend it.

stylin

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Quote from: TERA on March 18, 2014, 04:08:29 AM

If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

Doubt it. If fiat currency collapses or hyperinflates, people may start wanting to use BTC to actually buy things, that is start using it as a currency. BTC price in USD will not collapse, it will just become irrelevant as hyperinflation makes it a stupidly high number and people don't bother trading in their $100,000 for .001BTC Tongue

BTC will become "priced" more in food, commodities

FeedbackLoop

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Quote from: Buffer Overflow on March 18, 2014, 06:15:18 AM

Quote from: TERA on March 18, 2014, 04:08:29 AM

Quote from: Buffer Overflow on March 18, 2014, 04:01:29 AM

Quote from: MatTheCat on March 17, 2014, 12:37:50 PM

I have just decided to shift half my USD from Bitstamp back to the safety of my EUR bank account.

It's safer, but certainly very very far from safe. Bank bail-ins are just around the corner.

If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

The actual bail-in should prevent the system collapse, at the expense of depositors.

The only question left is "which country is next?"

Though a bail-in is deflationary thus a large enough or multiple bail ins are dangerous for fiat. Bailing out with large amounts of government debt is better.

Buffer Overflow

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Quote from: TERA on March 18, 2014, 04:08:29 AM

Quote from: Buffer Overflow on March 18, 2014, 04:01:29 AM

Quote from: MatTheCat on March 17, 2014, 12:37:50 PM

I have just decided to shift half my USD from Bitstamp back to the safety of my EUR bank account.

It's safer, but certainly very very far from safe. Bank bail-ins are just around the corner.

If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

The actual bail-in should prevent the system collapse, at the expense of depositors.

The only question left is "which country is next?"

cosmofly

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PrimeDAO - An Adoption Engine for Open Finance

Quote from: arepo on March 18, 2014, 12:37:53 AM

Quote from: kooke on March 18, 2014, 12:33:05 AM

Why are you still holding feathercoins? That were Pumped and dumped long time ago.

in order for pump&dumps to work, there've got to be bagholders Wink

feathercoin = dead

might as well hold something less pathetic like Dogecoin

TERA

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Quote from: Ibian on March 18, 2014, 04:12:31 AM

Quote from: TERA on March 18, 2014, 04:08:29 AM

Quote from: Buffer Overflow on March 18, 2014, 04:01:29 AM

Quote from: MatTheCat on March 17, 2014, 12:37:50 PM

I have just decided to shift half my USD from Bitstamp back to the safety of my EUR bank account.

It's safer, but certainly very very far from safe. Bank bail-ins are just around the corner.

If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

Sure. Now. There is nothing stopping localbitcoins from becoming thee exchange tho. And I hear people are working on android wallets with built in localbitcoins functionality.

Yes, it could theoretically work, if everyone who previously used exchanges were suddenly willing to walk around with suitcases full of $100,000s of cash and make exchanges at Starbucks, while avoiding getting arrested (for carrying/exchanging that much cash). However, I don't think would be the case. Sure, there will be some activity. There might be some increase in localbtc users, but the USD volume would likely be NOTHING compared to the volume previously at exchanges. It would not be enough to support current price levels, and price would fall.

Ibian

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Quote from: TERA on March 18, 2014, 04:08:29 AM

Quote from: Buffer Overflow on March 18, 2014, 04:01:29 AM

Quote from: MatTheCat on March 17, 2014, 12:37:50 PM

I have just decided to shift half my USD from Bitstamp back to the safety of my EUR bank account.

It's safer, but certainly very very far from safe. Bank bail-ins are just around the corner.

If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

Sure. Now. There is nothing stopping localbitcoins from becoming thee exchange tho. And I hear people are working on android wallets with built in localbitcoins functionality.

Topic: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto - page 2. (Read 6807 times)