Pestilence11
Member
I'm in the same boat. It seems pretty complicated with having to move money 4 - 5 times to a few different locations and back before you're done.
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Bitcoin prices hit new record high of over $2200 (10/13 Update: peaked at $5,829)
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I'm in the same boat. It seems pretty complicated with having to move money 4 - 5 times to a few different locations and back before you're done.
1. Get an account setup and verified on a broker site (hardest part but you can do it early)
2. Buy some coin (either directly from bank and wait a few days or deposit up front, wait a few days, then have instant transfers with buying/selling)
2.1. (optional) send coin to personal wallet
2.2. (optional) transfer coin back to broker site
3. Sell to bank account
They don't accept scanned documents from Canadians. It's photo-only for us.
Coin base is the shittiest website I've come across since like prodigy days. It doesn't work half the time. If you reload you get different scripts loading.
I finally got my card to work via the browser. The app still says I have no cards on file. Even though I authorized it and verified it. It's really hit or miss. I finally got my limit to not say 0 of 0. But the fucks gave me a 5 DOLLAR LIMIT. I mean five dollars bros???
I bought 225 sia coins, and lost a dollar for the transfer or 2 dollars.
If the site worked it would be a breeze.
Looks like it still has more to drop. USD$115 ETH coming in a few minutes I think.
Ripple has a lot of units of currency (Ripples) in circulation, and is intended to have a predictable trading value so banks could rely on it for international money transfers. That it jumped up a lot recently I think is not sufficiently tied to its long term utility. Ripple itself also retains a ton of reserve Ripples it can unleash at any time. So for short term swings or putting in a little bit and seeing what happens in 2 years, it may be good, but I don't plan to put a significant amount in it.
Yeah, I'm sitting here in awe of the falling graphs. Haha
I probably lost about 200 since last night but whatever, I'm just going to buy more now I think.
Adam_Roman
Member
I made the jump a few days ago and I'm glad I did. I made some Dogecoin back in early 2014 from various trades on the Dogemarket subreddit. Mostly just for fun. I held onto that till this week. I traded my 119,000 Dogecoin for 0.18 BTC right before Doge started crashing, and I pulled out 0.05 BTC when it was at $2500. Now I've got my 0.13 ready to go for the next spike and I'm overall really happy. Basically no cash invested and I've got a nice little chunk of BTC to mess with.
It ended up hitting USD$115 for a second. Since then it has rebounded above $130 and seems to have stabilized, if not trending upwards.
BlackRainbowFT
Member
Thanks to NeoGAF I decided to give this a shot (long term)...
I'm on Poloniex and... holy hell the Trollbox (their live chat widget) is full of idiots.
"Altcoins were a bubble!"
"buy FUK!!!"
"pump incoming!" (https://www.youtube.com/watch?v=9EcjWd-O4jI)
Those people are those who are going to lose their money. You invest 100, it drops to 80, you panic and sell to minimize your losses. Rinse and repeat.
It feels more like people betting on horses than a serious place for investment.
By the way, I bought mostly XRP because it's the cheapest coin with the most potential. I know some of the appeal of Bitcoin is the fact that it's basically a middle finger to regular banks... At the same time, thinking that somehow we'll get rid of them is naive at best (the amount of crap they get away with is astounding...)... so, XRP sort of conciliates the two worlds (regular banking vs. cryptocurrency). Also, even though it doesn't mean much, it was backed by Google.
I guess I'll see in 2-3 years (I got about 7500 XRP; 2500 sia + I'm mining them... I should get 5000 more in about 20 days; 20 BTC; 2000 DOGE because reasons).
I'm on Poloniex and... holy hell the Trollbox (their live chat widget) is full of idiots.
"Altcoins were a bubble!"
"buy FUK!!!"
"pump incoming!" (https://www.youtube.com/watch?v=9EcjWd-O4jI)
Those people are those who are going to lose their money. You invest 100, it drops to 80, you panic and sell to minimize your losses. Rinse and repeat.
It feels more like people betting on horses than a serious place for investment.
By the way, I bought mostly XRP because it's the cheapest coin with the most potential. I know some of the appeal of Bitcoin is the fact that it's basically a middle finger to regular banks... At the same time, thinking that somehow we'll get rid of them is naive at best (the amount of crap they get away with is astounding...)... so, XRP sort of conciliates the two worlds (regular banking vs. cryptocurrency). Also, even though it doesn't mean much, it was backed by Google.
I guess I'll see in 2-3 years (I got about 7500 XRP; 2500 sia + I'm mining them... I should get 5000 more in about 20 days; 20 BTC; 2000 DOGE because reasons).
CaptainZombie
Member
I feel Eth will stabilize at $120-130 before the weekend ends. It's all these worried cats that are dumping bringing the price back to normal. I'm glad now that coinbase was messed up for me lol, would of lost a bit dough.
Welcome to crypto commodities. Take their money.
CaptainZombie
Member
Freakin coinbase still a mess for me, but got lucky today that I had my brother use his account to get me some ethereum. Of course, coinbase won't allow me to access this set of coins till 6/9.
if you pay with a card/funds already deposited to coinbase its instant, pay with a bank wire and it takes forever to clear
CaptainZombie
Member
Yeah, I wasn't sure what he used to pay for it. I am just glad I was able to get several coins even though I have to wait to get these. I just wish my coinbase would sort out already to make some instant buys.
I did also get setup with Kracken and Gemini in hopes they would get verified already.
Unknown Soldier
Member
The way everything is delayed 3-5 days is going to play havoc with these markets in the short term. All the new money piling in have their actions on this time lag and so gyrations will be wild as people get their money finally into accounts and decide to panic sell or whatever.
I'm playing with play money because who the hell invests money they can't afford to lose so watching my wallet go up and down is a fun game but not much else. Hopefully in 5 years I'll have a few million bucks and I can finally buy that yacht and spend the rest of my life sailing around the world.
I'm playing with play money because who the hell invests money they can't afford to lose so watching my wallet go up and down is a fun game but not much else. Hopefully in 5 years I'll have a few million bucks and I can finally buy that yacht and spend the rest of my life sailing around the world.
Fine Ham Abounds
Member
I remember like 15 years ago a friend was like "start mining bitcoins, I am"
And I thought it was the dumbest fucking thing I'd ever heard
And now here we are
And I thought it was the dumbest fucking thing I'd ever heard
And now here we are
thoseAREmySHOES
Member
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Will be an ATH by end of week.
thoseAREmySHOES
Member
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MikeHattsu
Member
I got all my coin from localbitcoins when I bought and sold since it was near instant. Of course, you get worse rates and have to check that whoever you deal with seems legit.
Isn't the delay more of an American issue with how they still use Clearing Houses vs say swift.
I want a Yacht too, but I'm always afraid of what salt water will do to my electronics lol.
Anyone want to arb Bitfinex vs GDAX via Kraken? 200 dollar spread at the moment.
Would probably go something like this:
1. Get USD Tether on Kraken via USD deposit
2. Send Tether to Bitfinex
3. Buy BTC on Bitfinex with Tether
4. Send BTC to GDAX
5. Sell BTC for USD on GDAX
6. Send USD to deposit account in step 1
7. Repeat step 1
Would probably go something like this:
1. Get USD Tether on Kraken via USD deposit
2. Send Tether to Bitfinex
3. Buy BTC on Bitfinex with Tether
4. Send BTC to GDAX
5. Sell BTC for USD on GDAX
6. Send USD to deposit account in step 1
7. Repeat step 1
I put $5k down on BTC. Exciting (scary) times ahead lol.
Earthbound64
Banned
Wish it were quicker/easier to sign up for all of those sites.
GDAX won't even complete the sign-up process, fields are missing from the registration form (tried on multiple browsers)
DudeWithNoName
Member
This.
Same here. I thought it was just the latest Slashdot neckbeard circle jerk that would quietly fade into obscurity.
I still think it's sketchy and way too volatile, but I didn't think it would get to this point.
Don't even try. You're up against people with 10,000 node specialized mining rigs, and even they struggle.
Try another coin.
LumpOfCole
Member
Even the Bat Computer would take a month to mine a Bitcoin right now.
Any recommendations?
I'm going to keep framing BTC until the end of this month. I'm making 6 a day with a 1080 Ti.
After I finish paying my watercooling kit (will take me around 20 more days with these prices) I'm going to cash out. Hope it keeps stable at 2000 until then.
If it drops I stop mining since it stops being worth it.
After this I'm going to farm ETH. I feel it's the future, unlike Dogecoins which was a nice fad, ETH has a real backing for it to work in the future.
After I finish paying my watercooling kit (will take me around 20 more days with these prices) I'm going to cash out. Hope it keeps stable at 2000 until then.
If it drops I stop mining since it stops being worth it.
After this I'm going to farm ETH. I feel it's the future, unlike Dogecoins which was a nice fad, ETH has a real backing for it to work in the future.
Mooncoin, Dogecoin, or XLR. I'm biased to dogecoin because I own a lot of it but the other two can realistically shoot up quickly over the next six months. Acquiring Mooncoin is tough so keep that in mind.
walking fiend
Member
I am in for eth to stabilize around 240 usd for the time being. Wonder how higher it will go after that.
Lilalaunebaer
Member
Download nicehash miner: https://www.nicehash.com/?p=nhmintro
Basically, people buy processing power on the website and let other people mine coins and pay with bitcoins.
Get a bitcoin wallet. Enter that wallet address into the miner and let it mine. You don´t have to worry about what coins to mine etc. All automated. You´ll get payed in bitcoins automatically after you have a certain amount in your balance. Let´s say 0.002 bitcoins (as the transfer fees for bitcoins are high right now.)
"Stable" ETH price is probably still going to have minimum daily 10% swings.
Siacoin.
Ethereum appears to be the next Bitcoin.
Basic Attention Token (BAT), built on Ethereum, has some potential as well as it has a specific use case, and has its initial token sale this week. Any success achieved by BAT, or any other Ethereum-based token, will likely also cause residual benefits to the underlying Ethereum token as well. Kik also just announced a token, Kin, running on Ethereum. This is part of why Ethereum appears to have long-term potential, both as its own currency and as a platform facilitating others.
Tezos (not built on Ethereum) has some potential to get a piece of what Ethereum is doing, since they claim some improvements, but it's still way too early to say. It hasn't launched yet, and Ethereum's head start may be insurmountable.
I feel like there isn't going to be room for too many brand new tokens to really succeed, unless they get built on an established player, or there is some sort of crypto catastrophe.
I'm going to say Monero (XMR). Functions similar to BTC but offers much better privacy.
Eth could well end up replicating everything it does in regards to privacy but there are a lot of what ifs still.
Either way I believe privacy will be a bigger issue going forward and Monero arguably has the best implementation yet. There is also Dash and zCash but these have several issues from my research. Dash is just plain shady, there was a massive premine. zCash overall is good but the tech behind it is even more experimental than XMR, and there are some concerns about its trusted setup.
I'd do your research before buying any. I hold only BTC, ETH, and XMR though.
I sold 800.000 siacoins sometime ago.. :\
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