I fucked up tumbling bitcoin and now I need an extra .0002 to withdraw the rest...

I fucked up tumbling bitcoin and now I need an extra .0002 to withdraw the rest. If I buy a normal amount from my exchange, I'd have to wait for days for the bank transfer to clear, and if I go through something like LocalBitcoins I'll get laughably ripped off. Any advice on quickly acquiring a small amount of coin?

Other urls found in this thread:

pastebin.com/DPjcVaPk
whattomine.com
twitter.com/NSFWRedditVideo

post your address

Btc atm

Shapeshaft

>needing bitcoin to withdraw your bitcoin
What the actual fuck.
Can't they just deduct it from your withdrawal?

no, its fucking retarded its the same shit with ethereum tokens

entirely dependent on the exchange you're using. sounds like op is using some gay shit

It's just a way of trapping people into the currencies, isn't it?

pastebin.com/DPjcVaPk

Who are "they"? If you mean bitcoin itself, no one controls it so of course there are no one that can manipulate transactions behind the scenes for you. That would defeat the whole purpose.

If you mean the tumbler, they actually CAN do whatever they want since they now control the coins that OP sent to them. So OP should send them an email them or whatever. But they are under no obligation to help and due to the nature of tumblers I wouldn't get my hopes up.

sent :^)

i don't know much about bitcoin, but can't he just buy it at coinbase and transfer it anywhere?

also, which exchange gives you cash in exchange for bitcoin? i thought they only dealt in cryptos

Wow, you have my gratitude.

>If you mean bitcoin itself, no one controls it
That's what ((((they)))) want you to think.

If no one controls it then why is it at $17,000 per coin? That price makes no sense from a community controlled currency.

Quite the opposite, if it was controlled by someone, it would be like any other payment processor and no one would be particularly interested. It is precisely because it is not controlled by anyone that people are willing to pay for it.

because it went up a bit for whatever reason and then demand increased causing a chain reaction of cunts buying it driving up the price. not hard to figure out

A. There's a far smaller number of Bitcoins in circulation than there are almost any other cryptocurrency or fiat currency, IIRC somewhere in the neighborhood of 13 million in existence. If there were only thirteen million dollar bills in existence, they would be worth far more than one dollar even if all of them were only one dollar bills. You'd need a way to split that dollar into smaller parts. This used to be the case, and coins of various denominations were far more ubiquitous than they are nowadays. There's now so much USD in existence that inflation (the decrease of the value of an individual unit of currency regardless of denomination) has all but made pennies obsolete. Literally the only difference between the two scenarios I just listed is that you can split a Bitcoin into many many smaller pieces, something you can't do with a dollar bill.

B. The value of Bitcoin, the USD, or any currency crypto or otherwise is directly tied to the amount of faith the userbase has in that currency specifically as a measure of the capital or work that they're willing to invest to acquire that currency. Globally, bitcoin mining uses as much electricity as Denmark. There's hundreds of millions of dollars invested in the hardware that mines it and that hardware also processes transactions of Bitcoin in the blockchain. Several million Bitcoin have been lost basically forever and only a finite amount can ever be made. The value of one Bitcoin is representative of the total value of the currency as a whole divided by the sum total of coins in existence.

Yes, there are ways for people to manipulate the value of Bitcoin. They're the same methods people use to manipulate the value of stocks or currencies or commodities.

I've used the Satoshi gamble site in this situation previously.

why use tumbling instead of monero

>Globally, bitcoin mining uses as much electricity as Denmark.
i fail to see how this should determine it's value

You fail to see how something using as much of a resource as an entire country of people wouldn't play a part in determining it's value? Come on now. Think just a little bit harder.

Bare minimum, it means that mining for the coin will always have to be profitable enough to cover the cost of that electricity. We're talking about billions of dollars worth of electricity. Even once all Bitcoins are mined, there will still have to be a network of miners to process transactions and distribute the blockchain. That's the whole reason there's a transfer fee in the first place, in fact it's the entire reason that OP made this thread.

As an example, Gold will always have to be worth at least enough money to cover the cost of transporting it. It's one electron away from Lead. It's heavy as fuck. That means you have to have forklifts and dollies and trucks to carry it, people to load it, and that's not even taking into account the security involved in each step of that process because of its value.

The amount of electricity used to mine a cryptocurrency most definitely influences the value of that cryptocurrency. They wouldn't print dollar bills if they weren't worth enough to cover the cost of making them.

I think you're being intentionally obtuse but I'm responding in detail and relatively civilly on the chance that you aren't or that someone may have the same question as you.

So basically bitcoin is a rotting corpse just waiting to collapse under its own weight.

Good to know.

>You fail to see how something using as much of a resource as an entire country
yes i fail to see because this just makes it a liability and it is barely usable for transactions

>The amount of electricity used to mine a cryptocurrency most definitely influences the value of that cryptocurrency.
what about when the price was 10 bucks

As is the dollar, the pound, the euro, the deutschemark, and every other currency ever created. They all require constant use/regulation/investing to remain a stable and internationally accepted standard of value.

I've been up all night smoking meth, you're not going to out-argue me on this. Be a pedantic troll all you want, it's entertaining to me and I'm sure it is to you since I keep replying. But you're just pretending to be retarded.

>As is the dollar, the pound, the euro, the deutschemark, and every other currency ever created.
yes

>They all require constant use/regulation/investing to remain a stable and internationally accepted standard of value.
exactly, they are legal tender

Other cryptocurrencies transact much faster, yes. Bitcoin is basically a commodity because of the slow transaction time, rather than a currency. Something like Ethereum would be much better suited to actually be used as a currency since it has much much faster transaction times.

You don't pay for your groceries at the store with gold. You pay with cash or a debit/credit card so the transfer of funds is instant; you keep your gold somewhere safe and sell it in a much slower and more secure process in order to acquire more cash or currency in a bank account.

When it was 10$ a coin you could still mine hundreds a day with consumer desktop hardware. For reference, my GTX 1070 uses about 32 cents a day to mine 3-4$ worth of Monero. Pretty much every cryptocurrency/cryptocommodity that's ever been of any note at all has fairly quickly stabilized at minimum at a price that would make it economical to mine, even if that's only fifty cents.

If Bitcoin crashed to a hundred bucks a piece nobody would mine for it anymore. It would no longer be profitable. People would have to start selling hardware to recoup investments and losses, the total computing power of the network would vastly and immediately decrease, and it would cease to exist in a usable or valuable form. The exact same way people would be using USD as wallpaper if they just printed it constantly and without reason or necessity, or as it relates to this specific example, the exact same way the USD would no longer be worth anything if the United States disappeared.

To date, crypto currencies are entirely legal to use as tender. They meet the criteria of constant use with literally billions of dollars worth of them traded on a daily basis, they're constantly invested into whether that's with people buying them to hold or spend or with people dedicating processing time to maintaining the blockchain and processing transactions, and the regulation of them as a currency is in-built to the proof-of-work and other concepts of their creation and use. It's a self-regulating currency for the large part.

Yes, it's a bit scary because someone with a sufficient amount of money or Bitcoin/Any cryptocurrency holdings could sell them at a massively reduced price below market value and could make it crash. Or they could literally rent all of Amazons servers, configure them as miners, have 51%+ of the total processing power of the entire mining network, and start manipulating it that way. Except even that wouldn't work because (going back to the whole "how come the amount of electricity used to mine bitcoin or other currencies influences their value" question you asked me earlier) there is a metric fucktonne of processing power dedicated to mining Bitcoins and handling the blockchain/transactions and literally no private entity could plausibly control enough processing power to be 51%+ of the mining network.

Again, it's a self-regulating currency. Aside from the same tactics that people and corporations use to manipulate the value of currencies/stocks/commodities (which anything is vulnerable to) you can't manipulate its value on any appreciable level. It will eventually correct itself from the record high that it's at, sure. But if you think Bitcoin will never be worth more than it's worth today with any kind of stability, you're an idiot or you're betting on it being made illegal (which still makes you an idiot).

didn't china make it illegal

Is there any new shit currency worth mining for

They made it illegal to trade cryptocurrencies or for cryptocurrencies on exchanges and made it illegal for new cryptocurrencies to raise startup funds with an Initial Coin Offering (ICO). This was after several major exchanges were hacked or otherwise tampered with and with evidence of ICO's being used to manipulate cryptocurrency prices.

You can still possess and trade cryptocurrencies in China. You just can't trade them or buy them on an exchange and you can't use an ICO to commit fraud. So, in actuality, they took two direct steps toward legitimizing cryptocurrencies and the markets they're traded on.

I'm sure that as soon as a cryptocurrency exchange is cleared as clean by several international agencies (which there are multiple exchanges in the process of doing exactly that) they'll lift that ban.

People and organizations were using cryptocurrencies to launder and transfer money without paying taxes. They don't give a shit if you use it, they just want to put a hold on things until they can effectively trace/tax it and until they can make sure that people aren't going to be victims of fraud.

The US has taken similar steps as well. There's a bill going through the Senate right now to make hiding holdings of cryptocurrencies illegal. Why? Because they want to get paid taxes on it and don't want people doing illegal shit with it. Same goddamn reason why any transaction of more than 10k worth of cash is automatically flagged for investigation by the IRS/FBI.

Depends. Are you trying to mine something that's not worth dick and hold onto it forever in the hopes that it goes up in value massively, or are you just looking to turn a profit? What kind of hardware do you have?

>Are you trying to mine something that's not worth dick and hold onto it forever in the hopes that it goes up in value massively

That, sort of. I only got an i5 4460 and one 280x right here so I can't do much with it. Turning a profit seems impossible as of right now unless I invest a lot.

whattomine.com

Yeah, with only a single 280x you're not gonna be able to make much of a profit mining anything listed on an exchange and unless you get in a mining pool you won't have much luck with startup coins either since you just don't have enough processing power to try to solve a block on your own.

My personal recommendation for you would be MinerGate. I use them. Automatically switches to whichever coin is the most profitable to mine with your hardware after running a couple benchmarks on your system to see what it's best for. Only kinda shit part is the limit for withdrawals for your coins can be a bit high for some of them but that information is available to you before you ever start mining if you look for it.

Granted, they're like kiddies first cryptomining venture. They take a 1% cut of your mined coins and their software isn't as efficient as setting up mining software in something like a linux environment or a stripped Windows installation, but it'll make you some money if you stick with it long enough. With your hardware CPU+GPU mining you'll probably make between $1.70-$2.00 a day after electricity costs, possibly a little more if you overclock but make sure you set a static GPU fanspeed of like 60-80% to keep it from overheating.

With an overclocked GTX 1070 and an overclocked 4790k I clear $3.25-$4.10 a day in profit depending on what the client decides to mine and how the exchange rates for the cryptos they mine are doing that day.

It exploded in price because it is about to be listed on an index in some place.
Some futures index.

There is also a war between Bitcoin and Bitcoin Cash community to try fuck each others butts and make them lose money.
I highly expect all these newcomers will lose considerable amounts of money when the ones with lots of coins sells and drops the value through sheer panic when everyone else reacts.
It's classic pump and dump that happens all the time with Bitcoin.