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They charge $100 a year for the Spin+ membership. So there's that. They probably get a cut from visa for the processing fee. They get a cut on every gift card they sell (or they benefit from a spread, perhaps. So for example, maybe they buy $10,000 of On The Border gift cards for $8,000, and then they offer 4% back in sats on every OTB gift card sold. That's 16% gross margin. They probably negotiate with each retailer and offer sats back based on whatever they have to pay. They used to give 5% back on Amazon gift cards, but now they've cut that down to 2.5%. I assume Amazon isn't offering them as much of a wholesale discount on gift cards as they used to. They also sell BTC directly. I bet they have a spread baked in.
I had a neighbor once who every few months would come by bragging about winning a few grand at the OTB. Then I went with him once and watched him drop 500 bucks in 2 hours and it all made sense.
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Is someone isn’t right 100% OTB the time then it’s worthless to hear what they have to say isn’t exactly brilliant logic.
Feels like picking horses at the OTB parlor
I’m trying to understand the nuance behind Genzler’s decision to allow a futures ETF, but not a spot ETF? Is this because a futures ETF doesn’t actually invest any money into Bitcoin? It’s more like an OTB casino where you bet on or against the future value of something? So the government gets to tax all the “winnings” but doesn’t endorse the actual thing? Since it’s effectively a casino bet Genzler doesn’t have to worry about protecting “investors”, because it’s literally gambling. A spot ETF would actually invest in a fund that buys Bitcoin and would therefore actually move the needle on the value of Bitcoin. A huge amount of people could then “buy” an IOU for a Bitcoin through their brokerage house much easier than going through a central exchange, and potentially a lot of money would flow into Bitcoin driving the price up. Under the guise of saying he is protecting “investors” against the volatile swings in the price, he doesn’t want to give any help putting any value into something that may end up challenging the US dollar. Although the idea of people holding bitcoin in a fund in their portfolio is desired (Ark Invest has the fund which might get picked up by Vanguard, etc), and although that influx of money (read: demand) would boost the price, doesn’t that kind of go against the idea of using bitcoin as a mechanism of monetary exchange that exists outside of central banks / government? I mean it’s not like an investor can ask for the actual bitcoin to spend. They just have shares in a fund. I’m just thinking out loud, but if someone could explain it better I’d appreciate it.
FR game, nobody is very deep. Hero OTB with QQ, stack of \~100 BTC / 100 SB. UTG 3bets to 7 BTC, 2 Callers, CO Shoves. Hero ???
Are you kidding ??? What the **** are you talking about man ? You are a biggest looser i ever seen in my life ! You was doing PIPI in your pampers when i was beating players much more stronger then you! You are not proffesional, because proffesionals knew how to lose and congratulate opponents, you are like a girl crying after i beat you! Be brave, be honest to yourself and stop this trush talkings!!! Everybody know that i am very good blitz player, i can win anyone in the world in single game! And "w"esley "s"o is nobody for me, just a player who are crying every single time when loosing, ( remember what you say about Firouzja ) !!! Stop playing with my name, i deserve to have a good name during whole my chess carrier, I am Officially inviting you to OTB blitz match with the Prize fund! Both of us will invest 5000$ and winner takes it all! I suggest all other people who's intrested in this situation, just take a look at my results in 2016 and 2017 Blitz World championships, and that should be enough... No need to listen for every crying babe, Tigran Petrosyan is always play Fair ! And if someone will continue Officially talk about me like that, we will meet in Court! God bless with true! True will never die ! Liers will kicked off...
The moons are award enough lol Actually it's been a huge learning experience on Blockchain and how markets work I wanted to troll the Stock Exchange App WeBull SHIB comments section with facts and fell down the rabbit hole into what liquidity trading is and how price is determined by the Blockchain transactions more than OTB trading Was watching the CB pro Trainwreck go down was awesome
Oddly enough I paid attention to the whole thing and from what I can tell there was a ton of large transfers to Addresses that I'm assuming we're CBP My best guess is the whales placed sell orders one decimal off as so not to make it completely obvious and by the time it was too late and buy orders kept getting filled I really doubt there was much CB could do except limit transfer and market orders because they don't hold the coins to set the market price He who holds the most Liquidity trading OTB determines the price there
It's because they're trading on user Liquidity meaning whoever got SHIB deposits in can set the limit price and probably some whales dropped a zero on sell limits and there was still huge buying demand from people who didn't know the actual price This was all done OTB so that's why the "real" price wasn't affected
Most OTB exchanges trade on IOUs meaning they may need to reposition assets in order to meet the demand so they have to lock everyone until they can recover from the crash themselves
Almost every OTB exchange had issues
Otcbtc token (OTB)? If it's that one you are after, that's on Mercatox. If you want OTC trading, Kraken does that.