Pelican Parts
Parts Catalog Accessories Catalog How To Articles Tech Forums
Call Pelican Parts at 888-280-7799
Shopping Cart Cart | Project List | Order Status | Help



Go Back   Pelican Parts Forums > Miscellaneous and Off Topic Forums > Off Topic Discussions


Reply
 
LinkBack Thread Tools Rating: Thread Rating: 2 votes, 3.00 average.
Author
Thread Post New Thread    Reply
Registered
 
pwd72s's Avatar
 
Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 48,514
Bitcoin trading haulted by authorities

https://www.zerohedge.com/news/2018-01-16/bitconnect-closes-exchange-after-state-crackdown-over-unregulated-sales

__________________
"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent."
-Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.)
Old 01-16-2018, 04:01 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #1 (permalink)
Registered
 
pwd72s's Avatar
 
Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 48,514
yeah..;/.haulted.
__________________
"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent."
-Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.)
Old 01-16-2018, 04:02 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #2 (permalink)
Unregistered
 
sammyg2's Avatar
 
Join Date: Aug 2000
Location: a wretched hive of scum and villainy
Posts: 55,652
That's OK, they can always do this:
Becoming an Amway Independent Business Owner | Amway
Old 01-16-2018, 04:05 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #3 (permalink)
Registered
 
Join Date: Jan 2012
Location: NW Ohio
Posts: 9,733
Going to the website in the OP, my computer locked in attempting to load the story....not going there again !
Old 01-16-2018, 04:09 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #4 (permalink)
Registered
 
pwd72s's Avatar
 
Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 48,514
Quote:
Originally Posted by ckelly78z View Post
Going to the website in the OP, my computer locked in attempting to load the story....not going there again !
Don't bother. Hang on to those bitcoins, but I'd suggest picking up some Tulip bulbs as a hedge...
__________________
"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent."
-Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.)
Old 01-16-2018, 04:14 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #5 (permalink)
Functionista
 
manbridge 74's Avatar
 
Join Date: Jul 2011
Location: CO
Posts: 7,717
Gee willikers!!

Total blindside hit to the solar plexus. Who woulda thought??
__________________
Jeff
74 911, #3
I do not disbelieve in anything. I start from the premise that everything is true until proved false. Everything is possible.
Old 01-16-2018, 04:35 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #6 (permalink)
 
Registered
 
wdfifteen's Avatar
 
Join Date: Mar 2008
Location: SW Ohio
Posts: 29,271
Garage
So if I own an $11k bitcoin can I sell it in for $11k in cash, or is that just a theoretical value?
__________________
.
Old 01-16-2018, 05:31 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #7 (permalink)
Registered
 
pwd72s's Avatar
 
Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 48,514
Quote:
Originally Posted by wdfifteen View Post
So if I own an $11k bitcoin can I sell it in for $11k in cash, or is that just a theoretical value?
Did you read the link? Trading has been halted.
__________________
"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent."
-Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.)
Old 01-16-2018, 05:36 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #8 (permalink)
Registered
 
wdfifteen's Avatar
 
Join Date: Mar 2008
Location: SW Ohio
Posts: 29,271
Garage
Quote:
Originally Posted by pwd72s View Post
Did you read the link? Trading has been halted.
OK, YESTERDAY could I have sold an $11k bitcoin for $11k in actual guaranteed by the full faith and credit of the USA dollars?
__________________
.
Old 01-16-2018, 05:44 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #9 (permalink)
Whoopsies I was banned!!!
 
Esel Mann's Avatar
 
Join Date: Sep 2005
Location: Trying to Escape from FLA
Posts: 4,596
Yes, if there was a willing buyer connected with your sell order. I believe there is some sort of not insignificant exchange fee when selling. So 11k minus that fee. As to it being guaranteed......
Old 01-16-2018, 06:03 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #10 (permalink)
Registered
 
Join Date: Sep 2015
Location: NY
Posts: 6,908
Quote:
Originally Posted by Esel Mann View Post
Yes, if there was a willing buyer connected with your sell order. I believe there is some sort of not insignificant exchange fee when selling. So 11k minus that fee. As to it being guaranteed......
Not to be captain obvious, but BitConnect <> Bitcoin.
Old 01-16-2018, 06:29 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #11 (permalink)
Band.
 
Join Date: Dec 2003
Location: Denver, CO
Posts: 13,319
Send a message via AIM to Gogar
The title of Paul’s thread is a little sensational but true.

Bitcoin will halt at any large move in a single day, like many securities.

And yes, ten foot pole, unless you’re just enjoying yourself.
__________________
1983 SC Coupe
1963 BMW R60/2
1972 Triumph Tiger
1995 Triumph Daytona SuperIII
Old 01-16-2018, 07:00 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #12 (permalink)
Registered
 
pwd72s's Avatar
 
Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 48,514
Quote:
Originally Posted by Gogar View Post
The title of Paul’s thread is a little sensational but true.

Bitcoin will halt at any large move in a single day, like many securities.

And yes, ten foot pole, unless you’re just enjoying yourself.
Well, it's a little more than that. From the link given:

Following various red flags, including allegations by none other than the founder of Ethereum and Litecoin that it was running a Ponzi scheme, Bitcoin investment platform BitConnect announced it was closing the company’s cryptocurrency exchange and lending operation after receiving two cease-and-desist letters from state authorities for the unauthorized sale of securities and suffering from denial-of-service attacks.

In addition to offering cryptocurrency exchange services, BitConnect offered to let people receive interest on their digital coin balance by lending or investing their capital.

In a blog post – titled "Changes coming for the Bitconnect [sic] system – Halt of lending and exchange platform" posted on its website, the company said that is “closing the Bitconnect [sic] lending and exchange platform.”

It concluded that "This is not the end of this community, but we are closing some of the services on the website platform and we will continue offering other cyptocurrency [sic] services in the future."
__________________
"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent."
-Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.)
Old 01-16-2018, 07:03 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #13 (permalink)
Registered
 
wdfifteen's Avatar
 
Join Date: Mar 2008
Location: SW Ohio
Posts: 29,271
Garage
Quote:
Originally Posted by pwd72s View Post
In addition to offering cryptocurrency exchange services, BitConnect offered to let people receive interest on their digital coin balance by lending or investing their capital.

In a blog post – titled "Changes coming for the Bitconnect [sic] system – Halt of lending and exchange platform" posted on its website, the company said that is “closing the Bitconnect [sic] lending and exchange platform.”
Not to be nitpicking, but why is "BitConnect" offered as an unchallenged word originally but challenged as "sic" in the blog post. Are we talking about the same entity?
__________________
.
Old 01-16-2018, 07:48 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #14 (permalink)
Registered
 
pwd72s's Avatar
 
Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 48,514
to repeat my earlier post on the other thread

Want to know about

BITCOIN the “ MONKEY”
BUSINESS 2018


A lot of monkeys lived near a village.🐒🐒🐒🐒🐒🐒🐒

One day a merchant came to the village to buy these monkeys!🐵🐵🐵🐵🐵🐵

He announced that he will buy the monkeys @ $100 each. 🐵💵

The villagers thought that this man is mad.😇

They thought how can somebody buy stray monkeys at $100 each?🤔

Still, some people caught some monkeys and gave it to this merchant and he gave $100 for each monkey. 😬

This news spread like wildfire and people caught monkeys and sold it to the merchant.😬

After a few days, the merchant announced that he will buy monkeys @ 200 each. 🐵💵💵

The lazy villagers also ran around to catch the remaining monkeys!🐒🐒🐒🐒🐒🐒

They sold the remaining monkeys @ 200 each.😋

Then the merchant announced that he will buy monkeys @ 500 each!
😮💵💵💵💵💵

The villagers start to lose sleep! ... They caught six or seven monkeys, which was all that was left and got 500 each.🙊🐵🐵🐵🐵🐵🐒

The villagers were waiting anxiously for the next announcement.🙄

Then the merchant announced that he is going home for a week. And when he returns, he will buy monkeys @ 1000 each!🐵💵💵💵💵💵💵💵💵💵💵

He asked his employee to take care of the monkeys he bought. He was alone taking care of all the monkeys in a cage.🤠🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒 🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒 🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒 🐒🐒🐒🐒🐒🐒

The merchant went home.😎

The villagers were very sad as there were no more monkeys left for them to sell it at $1000 each.☹😞😓

Then the employee told them that he will sell some monkeys @ 700 each secretly. 😶

This news spread like fire. Since the merchant buys monkey @ 1000 each, there is a 300 profit for each monkey.😬

The next day, villagers made a queue near the monkey cage.🐒🐒🐒🐒🐒🐒🐵🐒🤑🤑🤑🤑 🤑🤑🤑🤑🤑🤑

The employee sold all the monkeys at 700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys!
🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒💵💵💵💵💵 💵💵💵💵💵

The villagers took care of their monkeys & waited for the merchant to return. 😕

But nobody came! ...😤 Then they ran to the employee...🤠

But he has already left too !😉

The villagers then realised that they have bought the useless stray monkeys @ 700 each and unable to sell them! 😩😫😨😰😭😭😭😭😭😭
The Bitcoin will be the next monkey business
😜

It will make a lot of people bankrupt and a few people filthy rich in this monkey business. 🐒😉😅

That' how it will work🤣
__________________
"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent."
-Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.)
Old 01-17-2018, 10:10 AM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #15 (permalink)
Registered
 
Join Date: Oct 2000
Location: Nearby
Posts: 79,768
Garage
Send a message via AIM to fintstone
It is down 50% from it's recent highs. No wonder it is halted.
__________________
74 Targa 3.0, 89 Carrera, 04 Cayenne Turbo
http://www.pelicanparts.com/gallery/fintstone/
"The problem with socialism is that you eventually run out of other people's money"
Some are born free. Some have freedom thrust upon them. Others simply surrender
Old 01-17-2018, 10:32 AM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #16 (permalink)
Registered
 
Shaun @ Tru6's Avatar
 
Join Date: Dec 2001
Location: Cambridge, MA
Posts: 44,301
fake news
__________________
Tru6 Restoration & Design
Old 01-17-2018, 10:36 AM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #17 (permalink)
A Man of Wealth and Taste
 
tabs's Avatar
 
Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 51,063
Quote:
Originally Posted by Shaun @ Tru6 View Post
fake news
LOL

https://www.usatoday.com/story/money/2018/01/16/bitcoin-breaks-under-weight-regulatory-scrutiny/1035819001/
__________________
Copyright

"Some Observer"
Old 01-17-2018, 11:07 AM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #18 (permalink)
?
 
Join Date: Apr 2002
Posts: 30,435
Quote:
Originally Posted by Shaun @ Tru6 View Post
fake news
fake money
Old 01-17-2018, 11:09 AM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #19 (permalink)
Registered
 
Shaun @ Tru6's Avatar
 
Join Date: Dec 2001
Location: Cambridge, MA
Posts: 44,301
no doubt about that but at least it is safer than synthetic CDOs.

__________________
Tru6 Restoration & Design
Old 01-17-2018, 11:18 AM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #20 (permalink)
Reply


 


All times are GMT -8. The time now is 09:36 AM.


 
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2025, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2025 Pelican Parts, LLC - Posts may be archived for display on the Pelican Parts Website -    DMCA Registered Agent Contact Page
 

DTO Garage Plus vBulletin Plugins by Drive Thru Online, Inc.