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Thread: Bitcoin Vent

  1. #1
    MJM
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    Default Bitcoin Vent

    Irks me when programs that force us to take bitcoin as payment send out payments during volatile periods - I recieved two payments last night and didn't see the emails until this morning, net result is I lost $1,000 in value of my commissions while sleeping. Frustrating!

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    MJM
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    I suppose looking at the other side of it, there has been MANY times where I got a payment and then it ran up before I withdrew too - so I probably shouldn't complain as this is the first time I got hit.

    Main point is it's clearly a week where a big correction is happening, seems to me waiting a few days would have been prudent.

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    I'm $3K short on one payment just based on the amount that they sent - price dropped before the processor sent it.
    But I'll drop them a message and I'm sure they'll send a top up when things are worked through.

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    But with this current price volatility I can't even login my exchange to convert the coins.
    So f#%K knows what price I will get for these BTC tokens.

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    MJM
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    Quote Originally Posted by TheGooner View Post
    But with this current price volatility I can't even login my exchange to convert the coins.
    So f#%K knows what price I will get for these BTC tokens.
    Yep, I've been "pending" for 11 hours now which has cost me a few hundred more.

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    You did better than me - the current value is a further $4.5K down on what I was owed.
    I guess that I'm HODLing these for a while to see if it recovers as the dust settles.

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    MJM
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    % wise I'm sure we are the same, It's extremely frustrating that I still can't sell. Did not send players to lose commissions and play the market.

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    this is happening more and more. just about every month now, they are sending out the payments usually during a pullback...

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    If sending during a pullback, that's probably a good thing. Hold the coins and wait for the inevitable recovery rally to sell. Traditionally bitcoin price goes up rapidly after crashes. Obviously though this could be like that one time where it took 2 years to recover... gamble gamble!
    https://professionalrakeback.com

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    Interested in a sub deal?

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    Down to $2,950 and only a few weeks ago it was so close to reaching $5,000. That's crazy!!

    The following article is encouraging and seems to make some sense.
    https://medium.com/@Scarlet_Snow/and...s-9beee181acc8
    Last edited by sweetbet; 15 September 2017 at 7:09 am.
    Sweet Bet - Reviews of reputable online casinos, poker sites, sportsbooks & bingo halls
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    Quote Originally Posted by sweetbet View Post
    Down to $2,950 and only a few weeks ago it was so close to reaching $5,000. That's crazy!!

    The following article is encouraging and seems to make some sense.
    https://medium.com/@Scarlet_Snow/and...s-9beee181acc8
    The article is definitely encouraging.

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    It's time to HODL my friends.

    It appears that China is forcing all unlicensed/unregulated (read all of them) exchanges to shut down on September 30th. This appears to be the fear driving the price down. I'm going to sit on what I got and see how it shakes out.

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    Piles of BTC of smart people are getting bigger, piles of BTC of dumb people are getting smaller.

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    MJM
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    I didn't start this thread for trading strategy or ok g term investment.

    we are forced to accept bitcoin as payment (revenue) for the business we run, we don't ever m is exactly when that payment is coming and I lost $1400 on one payment alone yesterday while trying to sell as fast I could. Thankfully I sold during the bounce back up to 3400 but it was still painful and frankly just not fair.

    if we are going to be paid this way, I don't expect the programs to time the markets - but this was CLEARLY a volatile time to send and for that I'm not happy.

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    I don't know man... I think they have to send it when they send it.

    Would you have preferred that they hold on to the bitcoin while it drops or goes down in value?

    I'd rather have my bitcoin at that price and then I can do what I want with it.

    What I do want is an exchange rate at the time that the transaction is initiated that is close as possible to the amount owed (a little over would be nice) to cover any potential losses during the completion of the transaction.

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    Quote Originally Posted by MJM View Post
    I didn't start this thread for trading strategy or ok g term investment.

    we are forced to accept bitcoin as payment (revenue) for the business we run, we don't ever m is exactly when that payment is coming and I lost $1400 on one payment alone yesterday while trying to sell as fast I could. Thankfully I sold during the bounce back up to 3400 but it was still painful and frankly just not fair.

    if we are going to be paid this way, I don't expect the programs to time the markets - but this was CLEARLY a volatile time to send and for that I'm not happy.
    Invoice for the loss.

  24. #17
    MJM
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    You are missing the point - they sent right at the time of a major development that caused exchanges to freeze and delay access to the coins. I had to wait 18 hours to be able to sell mine, during that time it dropped 15% - where normally I could sell mine straight away.

    had they sent today, tomorrow, or theee days ago - that wouldn't have been the case.

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    Why not hold? it's most likely to bounce back higher.. the Chinese wont stop trading they will just find another route, I agree that a fixed date coins should be paid, sometimes i fee certain programs wait until it's in their benefit and pay late (or early if the hammering is there) because of that,

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    I must admit, this issue of delays and lost access to one's exchange account for whatever reason was something I noticed and encountered when I did my first domain deal for Bitcoin recently. I did wind up losing a bit (pun intended), but we had added a cushion amount to the base sale price to address that kind of volatility.

    In the case of affiliate earnings, however, I believe there should be a standard and reliable policy in place to determine the amount and value of Bitcoin or other coin when it becomes due and payable to the affiliate. Since we don't exactly have global regulation regarding such matters, it should be something put into place voluntarily and can be a selling point for affiliate recruiting in the same way that things like "no negative carryover" and the like are.

  27. #20
    MJM
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    Business revenue and investments need to be separated for obvious reasons. I do have some bit coin I'm holding long on, when I bought in at 600,800, 1200, etc - I had no intention of buying and holding st 4000 and trying to time the market with business revenue is foolish.

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