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Bitcoin prices hit new record high of over $2200 (10/13 Update: peaked at $5,829)
- Thread starter XiaNaphryz
- Start date
Aquavelvaman
Banned
Well, the $150 I invested was $220 a couple days ago, now it's $140. Boo. There goes my free switch game
hold
It'll go back up, dont try to ride the individual waves like that
It's like looking at a speedometer in a car at a red light, seeing 0mph and deciding you should have walked since you're not moving right now
Unknown Soldier
Member
Ethereum shot up over $220, was hammered back down to $170, and is now recovering to $190.
This is definitely the shit I signed up for. Whew.
Homer: "Money goes up, money goes down. Money goes up, money goes down."
This is definitely the shit I signed up for. Whew.
Homer: "Money goes up, money goes down. Money goes up, money goes down."
Lilalaunebaer
Member
I cashed out ~75% percent of my blackcoins and syscoins yesterday that i mined in 2014. After selling my gpu´s that i used back then i "lost" about 500. That 500 loss is now ~ 2500 in cash and 1500 still in coins (less now since the drop yesterday).
Will buy in again in half a year after bitcoins are down to 800 or less again.
Will buy in again in half a year after bitcoins are down to 800 or less again.
Doesn't look like that's gonna happen anymore, but who knows.
I think there's too many people that want to jump in after a crash at this point.
Lilalaunebaer
Member
After the previous hype cycle it went from 1200 to like 220 in like a year. People were saying the same thing back then too.
But hey, maybe you´re right. That´s the thing. Nobody knows.
RenegadeXV8
Banned
Ahh man, if only.
One of my friends jumped in super-early on the Bitcoin train and managed to mine 150 Bitcoins on his PC. He asked me if I wanted to help him mine, because I had some of the best mining GPUs at the time (Radeon 5850 + 6970). I declined because I thought the idea was silly and didn't want extra heat in my room.
He cashed out at $11.
One of my friends jumped in super-early on the Bitcoin train and managed to mine 150 Bitcoins on his PC. He asked me if I wanted to help him mine, because I had some of the best mining GPUs at the time (Radeon 5850 + 6970). I declined because I thought the idea was silly and didn't want extra heat in my room.
He cashed out at $11.
https://www.myetherwallet.com/
Put a very strong password. Save the file and print your wallet (which will have the private eth key). Make copies of all and save them someplace secure!
SuperBanana
Banned
I tried to buy in when they hit $500 but there were verification problems and I never ended up buying them. Damn it. 
I might not have been rich but it would have been a nice increase!
I might not have been rich but it would have been a nice increase!Same. A friend was nonstop talking about crypto in January and I figured "why not?" and was looking to buy 1 BTC. After looking around I thought etherium and dash looked appealing and figured I'd throw down 500 on each instead. Then after looking at time it takes to verify and wire transfer I decided against it. rip massive gainz.
Bought 10 Eth at $60 so I'm glad I get to feel a little bit less bad for not pulling my finger out and mining bitcoin back in the day. Still looking at it thinking I should have bought more but you do have to remember this could disappear completely pretty easily (either from market forces or something else) so it's not worth the risk of putting in more than you can afford to lose.
The Greek Freak
Member
The fact I knew how to buy bitcoins when they were like 100$ a pop makes me sick to my stomach.
What about encrypting the wallet and putting it on something like google drive? That would seem like a viable alternative
Purely from an investment point of view, it'd be silly not to put some disposable income into a variety of such currencies right now. One of them might strike gold.
My problem is that I'd have to link a lot of payment data to various companies that might be shady or not exist next year. Gotta figure out the safest way.
My problem is that I'd have to link a lot of payment data to various companies that might be shady or not exist next year. Gotta figure out the safest way.
Lilalaunebaer
Member
They are all encrypted with 20+ characters
I don´t like having important stuff in the cloud. But that´s just me.
Anyone have any thoughts on Tezos? https://www.tezos.com/
They say they're going proof of stake from the start. Considering throwing $500 at this in June, maybe, and holding for a few years.
They say they're going proof of stake from the start. Considering throwing $500 at this in June, maybe, and holding for a few years.
you can keep the coins in a personal wallet and only transfer in a few at a time to a big site to cash out
definitely dont keep thousands of bucks on a site and not in a wallet, but for small amounts its not that big a deal
I have 5 eth on coinbase and 20 in my own wallet, if coinbase goes down i still have 80%, and transfers are pretty quick so I could just keep them all in my wallet and only transfer in when its time to sell
I reccommend setting up accounts at multiple sites that let you cash out so if one goes down from too much traffic you can send your coins to another to cash out without being locked out of your funds.
Uni on Everything!
Member
I'm pretty new to this cryptocurrency thing so I just want to make sure I have this right.
Say I bought some Eth from an online exchage/wallet and right now my Eth is sitting there. I can either leave it there (not advised) or send all my Eth to a private wallet that I created on another site like myetherwallet.com. I would do this by sending it to the address that the website generated for me and as long as I store the private key and encrypted keystore file in a safe place, all my Eth will stay safe and locked at the address. Only the people who have access to my address and keys would be able to access my Eth.
Then if one day I wanted to sell, I would have to transfer the Eth from my private address to an online wallet/exchange to do so.
Is all this correct?
Say I bought some Eth from an online exchage/wallet and right now my Eth is sitting there. I can either leave it there (not advised) or send all my Eth to a private wallet that I created on another site like myetherwallet.com. I would do this by sending it to the address that the website generated for me and as long as I store the private key and encrypted keystore file in a safe place, all my Eth will stay safe and locked at the address. Only the people who have access to my address and keys would be able to access my Eth.
Then if one day I wanted to sell, I would have to transfer the Eth from my private address to an online wallet/exchange to do so.
Is all this correct?
yep
buy on coinbase/wherever
transfer to private wallet
if coinbase goes down you aren't locked out of your money
transfer TO coinbase to sell/ any other site you've registered and verified your bank info to sell on
I would heavily recommend you test out your wallet by sending .01ETH BOTH ways to make sure there's no shenanigans , you dont want to find out that you fucked up AFTER you send your non reversible transaction
CaptainZombie
Member
Freaking coinbase has my weekly selling limit to 0.00, yet when I click on my selling limits my buying limits are $50K of $50K remaining. How can I fix this?
I'm stilling waiting for Kracken and Gemini to authorize my accounts.
Anywhere else I can go where I can get some Eth since the price is at about what I was hoping where it would get to? Though I have a feeling it'll settle in the $120-$150 range by sometime this weekend.
I'm stilling waiting for Kracken and Gemini to authorize my accounts.
Anywhere else I can go where I can get some Eth since the price is at about what I was hoping where it would get to? Though I have a feeling it'll settle in the $120-$150 range by sometime this weekend.
Lord Error
Insane For Sony
Something's been messed up with coinbase for days now. I cannot for example buy anything right now, even though it tells me that the purchase went through. It's been like that for two days - I see no charges on my bank account, so it's definitely not going through. For days before that, they've been having 404 errors in the app, and other weird small things like that.
https://status.coinbase.com/
It says that they have degraded performance with credit and debit cards, but in my experience, it flat out doesn't work.
Uni on Everything!
Member
Thanks, will do that. Can I send less than .01 Eth and send something like .001? Also there's a transaction fee of .005 Eth when I send is that pretty normal?
yeah the transaction fees are flat and tiny, I've sent 1 eth and the fee was .0042 eth and I sent 20 eth with the same fee, you can try and lower it but all it will do is severely lower your priority and you will be waiting hours instead of minutes, if it's low enough you will never get the transaction processed.
Transaction fees do NOT go to whoever you're using, its like a small processing fee to ensure quick times, no entity gets that fraction of coin or makes money from that.
Real fees are obvious, like $16 fee on $900 used to cash out or to buy with USD,
.01 is only about $1.70 right now, and since you're assuming it will go thru there's no need to worry about it failing, if it does you're out a couple of bucks and need to make sure you get your wallet and info right
I don't have the balls to try to sell and re-buy low. With mainstream awareness and long lag time to get verified and wire fiat, the price should rebound in the next week or two. ETH tracks a little too closely to Bitcoin's movements. Hopefully that pairing is reduced over time.
I'm not selling anything, I don't have so much invested that losing it would hurt considerably. Maybe I'll buy more during the low, however. Let's see how low we can go...
Unknown Soldier
Member
The intra-day trend the past few days has been a drop during North American waking hours and a rise during Asian waking hours.
Uni on Everything!
Member
Thanks, got everything set up and working properly now. Sending and receiving both went through without any problems.
You can place buy and sell orders on Poloniex/GDAX, set it to sell x amount/dollars worth at 190 and buy x amount at 160 and just let it auto make you money until it stops rising and falling in that range
thoseAREmySHOES
Member
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coinbase only takes a long time if you buy via bank
buy via credit card and its instant (almost double the fees though), or transfer over a few hundred bucks to coinbase, once it clears you can buy and sell instantly to your coinbase wallet and if you want to withdraw you wait a bit but only when you want to
GDAX lets you wire money or coins into your account, once on there you can buy and trade instantly because its all in their ecosystem, you can send the coins back to coinbase to sell (either to your instant wallet or to your bank acc. which is a few days)
There are no coinbase fees for depositing or withdrawing money, only for buying/selling, so if you stick 1k in and realize you want 400 back for something else just withdraw it and wait the few days for it to clear
Either way, you get your coinbase coins at the price you bought it, so if you buy at $200 and it spiked to 250 while you're waiting for it to clear you will still get your whole coin and not .8eth or something
since this IS gambling in a way, imagine it like this:
You can buy chips at a casino up front and instantly do whatever you want with them, cash out once you're done vs paying for every round of blackjack and slots machine pull with a check that needs to clear each and every time
Or if their id verification doesn't like your id, in which case it takes an infinitely long amount of time. They don't have any way for a human to perform the verification in the case the auto-verification fails, which is a huge oversight on their part.
yeah It took me a few tries as well, im sure its bigger now and its probably slower
In my other posts I'm assuming you're verified and have a bank account / CC associated with your coinbase acc.
There are other ways, wire some money into GDAX, buy some coins and send them to your personal wallet while you work out how to verify on sites to sell it, you dont have to wait for coinbase to buy, heck it's cheaper often to buy/trade elsewhere and just use coinbase for cashing out
GDAX
PastorOfMuppets
Banned
On of you guys should start a Cryptocurrency OT. I'd do it myself but I'm pretty sure I'm permanently juniored.
Coinbase's id verification didn't work for me in the same way in each of January, February, March, April, and May of this year. Each time, I tried at least 10 times. I kept giving it another shot in case they improved it. Nope. I even resorted to taking a photo of my id, blowing it up on a monitor, and taking a photo of that, since I heard that trick sometimes works. It didn't. My crypto gains would have been bigger if Coinbase would've actually let me be a customer any of those times.
Earthbound64
Banned
PIVX seems to be promising, too.. it just got listed on a bunch of exchanges and might be just about to hit an uptick.
https://www.cryptocompare.com/coins/pivx/overview
https://www.cryptocompare.com/coins/pivx/overview
CaptainZombie
Member
This is what I keep getting on GDAX due to stupid coinbase. It sounds like I can deposit money to my GDAX correct? Can I then buy ETH with this right off of there and transfer it to Coinbase or do I have to wait for 4 days for it to clear?
thoseAREmySHOES
Member
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This is what I keep getting on GDAX due to stupid coinbase. It sounds like I can deposit money to my GDAX correct? Can I then buy ETH with this right off of there and transfer it to Coinbase or do I have to wait for 4 days for it to clear?
you can just sell on gdax and deposit to your bank account and skip coinbase completely if you want
CaptainZombie
Member
Will it take 4 days for the money to hit from my bank account? Once I transferred the money, would I be able to buy ETH today on GDAX?
not sure as I had no problems with coinbase so I used that as my entry point
You def. wouldn't be able to buy today ANYWHERE starting from scratch as it takes a few business days to get the bank transfer through for fraud prevention, processing times, etc, assuming they've verified your identity
CaptainZombie
Member
The crazy thing is that I did move $50K through my account back in 2013, so not sure why I am having all these issues when this is not a new account.
walking fiend
Member
Margin transactions are fun! I'm modestly aiming for 0.25%-1% (+trade fees) increases per day as my new strategy, accumulates to a lot when the prices are on a roller coaster. I think ether will break 1000 by the end of the year; though I'm thinking of diversifying into Ripple too.
TheLostBigBoss
Banned
I so want to do this
But I feel like I'll miss a step and lose a grand in money because I have no idea what I'm doing in terms of setting things up
But I feel like I'll miss a step and lose a grand in money because I have no idea what I'm doing in terms of setting things up
walking fiend
Member
There isn't much to fuck up if you just start small and play around with a small fund, at least not in the major platforms.
Start small and try to see if you can rule your mind first; which basically means not buying when the market is hyped and not selling when there is a panic (usually in the beginning you learn about the soars while they will be followed buy a nose dive and about the panics when the price has already settled to a low).
If you don't buy random currencies (there are tons of them), and don't get too greedy, you can make money, as bitcoin and ether have been steadily increasing over time. But then again, if you are not greedy, index funds are usually safe and proper [unless the market crashes like in 2008.]
Of course, just toss away all I said and do whatever you think is right . I am in no position to advice anyone on how to manage their money, specially by investing the volatile market of crypto currencies [I could be totally wrong about the future of bitcoin and ether.]
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