Bitcoin....who's gotten into it?

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Originally Posted by Danno

Crypto experts, help me out here

I have 1000 XRP at Gatehub. Does anyone use Gatehub? I never really chose gatehub, at some point my XRP got transferred there, it's so long ago that I don't recall.

Still, I have a wallet there, I can log in and see the 1000 XRP there but I cannot for the life of me figure out how to access it. I'd like to convert some amount to USD and get that money. Everything I try seems to fail. I try to use "exchange" to turn some into USD, but it always says "offer could not be filled". I tried creating an order at a price slightly below what seems to be the current trading price, it sits open.

I did some googling and still can't figure it out. Maybe I should set up a wallet elsewhere? If so, how do I do that? I know zero about this stuff (I got the 1000 XRP as a sign-up bonus when XRP first started out) but it now is worth a wee bit and I'd like to figure out how to turn some into $ before XRP skyrockets and makes me a megajillionaire.

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Sounds like you want to do a market sell order. I have not used Gatehub, but seems like they call a market order an exchange order.

"Instantly exchange your funds
If you wish to exchange funds instantly you can do so through "EXCHANGE".


Note that opening an order allows you to determine the price at which you want to sell or buy an asset.

In "EXCHANGE", this is done for you by calculating from current market orders."

https://support.gatehub.net/hc/en-us...21425653-Trade

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Originally Posted by Danno

Crypto experts, help me out here

I have 1000 XRP at Gatehub. Does anyone use Gatehub? I never really chose gatehub, at some point my XRP got transferred there, it's so long ago that I don't recall.

Still, I have a wallet there, I can log in and see the 1000 XRP there but I cannot for the life of me figure out how to access it. I'd like to convert some amount to USD and get that money. Everything I try seems to fail. I try to use "exchange" to turn some into USD, but it always says "offer could not be filled". I tried creating an order at a price slightly below what seems to be the current trading price, it sits open.

I did some googling and still can't figure it out. Maybe I should set up a wallet elsewhere? If so, how do I do that? I know zero about this stuff (I got the 1000 XRP as a sign-up bonus when XRP first started out) but it now is worth a wee bit and I'd like to figure out how to turn some into $ before XRP skyrockets and makes me a megajillionaire.

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I'd send it to an exchange with more liquidity. Set up an account at say kraken and transfer it there. Do a limit sell order to USD, then off ramp to your bank. And in the future, c'mon folks, don't leave your shit on exchanges. They go down all the time and they can refuse to let you access your coins, no matter how shitty they may be.



https://www.youtube.com/watch?v=fvX3Q7CaLO8

Hug a bear today.

:)

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Originally Posted by stalefish3169

Hug a bear today.

:)

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Whatever floats your boat. This is a judgement free zone.

Attachment 510247

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Originally Posted by J. Barron DeJong

Whatever floats your boat. This is a judgement free zone.

Attachment 510247

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Cute. How does the big green dildo in your bunghole feel?

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Originally Posted by stalefish3169

Cute. How does the big green dildo in your bunghole feel?

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I thought we had a no-kink-shaming policy here.

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Originally Posted by Danno

Crypto experts, help me out here

I have 1000 XRP at Gatehub. Does anyone use Gatehub? I never really chose gatehub, at some point my XRP got transferred there, it's so long ago that I don't recall.

Still, I have a wallet there, I can log in and see the 1000 XRP there but I cannot for the life of me figure out how to access it. I'd like to convert some amount to USD and get that money. Everything I try seems to fail. I try to use "exchange" to turn some into USD, but it always says "offer could not be filled". I tried creating an order at a price slightly below what seems to be the current trading price, it sits open.

I did some googling and still can't figure it out. Maybe I should set up a wallet elsewhere? If so, how do I do that? I know zero about this stuff (I got the 1000 XRP as a sign-up bonus when XRP first started out) but it now is worth a wee bit and I'd like to figure out how to turn some into $ before XRP skyrockets and makes me a megajillionaire.

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Originally Posted by MakersTeleMark

I'd send it to an exchange with more liquidity. Set up an account at say kraken and transfer it there. Do a limit sell order to USD, then off ramp to your bank. And in the future, c'mon folks, don't leave your shit on exchanges. They go down all the time and they can refuse to let you access your coins, no matter how shitty they may be.

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Huge improvement over Tradfi I see…


Sent from my iPhone using TGR Forums

I'm pretty happy with the movement on my CLSK stock the last few days.

A US Govt bitcoin reserve. What a wonderful idea. Why worry about Chinese hackers when we can destroy our economy all on our own. You'd think a master scam artist would be harder to scam, but I guess not.

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Originally Posted by old goat

A US Govt bitcoin reserve. What a wonderful idea. Why worry about Chinese hackers when we can destroy our economy all on our own. You'd think a master scam artist would be harder to scam, but I guess not.

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Cheeto faced draft dodger in chief doesn't care about destroying the economy.. shilling crypto makes $ for his cronies which also makes $ for him.. that is his priority

I read this on the internetz so it must be true.....

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Bitcoin is a big Fugazi and not very liquid and the marker microstructure is opaque. They will unload hundreds of billions in bitcoin for real cash to purchase tangible items such as property,gold,shares in something like SPY which is very liquid and generates dividends/value from actual production of goods and services.

A large chunk of bitcoin is owned by a a small percentage and pricing of bitcoin is based on “Tether” so unloading these large positions is nearly impossible without imploding the value of bitcoin and having no exit liquidity.

Having the Treasury buy bitcoin and creating a minimum 100K price floor is the perfect way to unload bags to an unlimited liquidity provider on the backs of Americans. It will be the final end to the bitcoin grift. It will be similar to the 2008 TARP program where the Treasury bought billions of illiquid and hard to price derivatives etc from banks/wall-street.

The Madoff ponzi lasted decades as long as there were small withdrawals and new money always coming in. What eventually killed the Madoff ponzi was the 2008 Financial crisis. When everyone panicked and wanted out the whole scheme unraveled and collapsed.

Bitcoin is the next generation 21st century Ponzi, its all a big facade and the top dogs want to unload without causing the whole thing to immediately unravel. Having the Treasury buy bitcoin will be the equivalent of the TARP program for crypto.

Taxpayers will be on the hook. I expect rapid inflation as the dollar starts to quickly lose purchasing power as billions wash up as all those illiquid worthless bitcoin end up on the backs of Americans.

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:fuckyou::D

Government actually made a little money on TARP. Should have been structured that they made a lot of money on TARP.

so now bitcoin will be blamed for inflation, that's rich

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Originally Posted by Bunion 2020

I read this on the internetz so it must be true.....

:fuckyou::D

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Which brings up gold--basically the bitcoin of previous millennia. More liquid than bitcoin, to be sure, but a lot heavier.
Crypto, gold, fiat money, are all worth what they're worth because people agree that they are. Once that trust is broken--people start dumping crypto, there's famine and nobody is willing to sell food for any amount of gold, the US government is turned over to a bunch of incompetents and scam artists--the whole thing collapses. It is obvious the crypto is a Ponzi scheme based on something with no inherent value. It's not as obvious that the US dollar is the same. We think the kind of hyperinflation, devaluation, etc that has devastated economies around the world can't happen here. It can.

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Originally Posted by shera

so now bitcoin will be blamed for inflation, that's rich

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Assuming that the government adds debt to buy it, and that the sellers spend their newly earned dollars, then yes, it’s inflationary. So either you get more inflation or the fed raises interest rates to keep inflation in check.

Attachment 510409

https://bsky.app/profile/mmasnick.bs.../3lfyjwcbtnc2n

Anyone else read the story this afternoon about the $Trump coin?..launches last night.. worth 32 billion this afternoon..?

https://www.cbsnews.com/news/trump-l...ryptocurrency/

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Originally Posted by J. Barron DeJong

Assuming that the government adds debt to buy it, and that the sellers spend their newly earned dollars, then yes, it’s inflationary. So either you get more inflation or the fed raises interest rates to keep inflation in check.

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After years of arguing government debt doesn't cause inflation Krugman is now arguing debt is inflationary. Coincidentally TGR's MMT'er, à la Krugman, has now completed a similar U-turn. Something's changed. Not sure what tho

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Originally Posted by up an down

Anyone else read the story this afternoon about the $Trump coin?..launches last night.. worth 32 billion this afternoon..?

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It was said it out performed the last 30 years of the S&P in 4 hours.
https://x.com/kobeissiletter/status/1880612823287709825

Just a matter of time before Trump becomes the first President with a "Rug Pull".

The office of the presidency is now an ATM spitting out saudi and russian money into trump's and his chosen oligarchs pockets.

Every job has its perks

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Originally Posted by MultiVerse

After years of arguing government debt doesn't cause inflation Krugman is now arguing debt is inflationary. o

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As of when? As I understand it he wrote in 2022 that the American Rescue Plan had in retrospect been inflationary, because it gave people too much money to spend on too little, not because of the debt. In June 2024 he said don't fear the debt. I haven't found anything more recent on the subject but I can't say I spent a lot of time searching. What did I miss?

It seems to me that crypto is not inflationary per se, because it takes money out of the economy, like most investments rich people make. I suppose if a lot of big crypto owners converted to dollars and then spent all that money it would be inflationary, but my guess is they would invest it in something else and the dollars would still be locked up. But I'm no economist, which makes me qualified to run Treasury or the SEC.

Krugman (and famous libtard, uh, Ben Bernanke) never argued that deficit spending is never inflationary. His (correct) argument is that in a depressed economy deficit spending isn’t inflationary and is expansionary.

During normal times, with low unemployment and Fed rates above zero, deficit spending is inflationary and the Fed will raise rates to keep it in check.

However in a depressed economy, with high unemployment and Fed rates at zero, the same isn’t true. In this case there’s a supply of unemployed people, and critically, the Fed doesn’t respond by raising rates, so the additional spending brings workers into the economy. Instead of new money chasing a fixed amount of goods and services it expands the goods and services being provided.

This is standard Keynsian economics, not MMT.

I thought multi had a graduate degree in econ. Maybe he should return it.

lol, Krugman (and Jong) got every single inflationary call wrong since 2020 and yet they both still think they were right. Just the dumbest political homers on the planet.

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Originally Posted by old goat

As of when? As I understand it he wrote in 2022 that the American Rescue Plan had in retrospect been inflationary, because it gave people too much money to spend on too little, not because of the debt. In June 2024 he said don't fear the debt. I haven't found anything more recent on the subject but I can't say I spent a lot of time searching. What did I miss?

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"don't fear the debt" as of June 2024 is recent. Do you think a large ship of state turns on a dime in less than a year like a political pundit? And Krugman's 2022 mea culpa happened because he was so grossly wrong telling everyone and anyone that inflation was transitory. Many discussions were had here with Jong echoing Krugman telling everyone that debt didn't matter because inflation was transitory. Here's Krugman making an elementary error:

Attachment 510502

Krugman is no longer a serious economist. Hasn't been for some time