Discussion in 'Whatever' started by ---NT---, Mar 28, 2013.
Will you look at that?!
Holy fuck. Bitcoin has risen over $10K in the past 2 months..
It’s basically tripled since I invested. It’s so crazy to read the stories on the Bitcoin subreddit about people cashing out daily and buying cars and homes..
LAMBOS FOR EVERYONE!!
Oops. I meant it's almost at $19000. Jesus Christ.. Mofos are becoming straight RICH today!
Pissed it took GDAX so long to process my deposit...
And BTC did briefly hit $19K.
@noeleaser - you get that Ledger hardware wallet yet?
Yeah man.. It's pretty impressive!
I no longer freak out about getting hacked and losing my money. I like the fact that I can connect it to any computer, install the wallet app and use it anywhere!
Check out this video clip, it argues the electricity arguement.
I never really thought about how we do things now. Massive data centers with hundreds of servers for fraud protection, buildings that have workers in them 24 hours a day, Giant trucks for hauling money around, etc.. You never think about those costs when dealing with traditional currency..
I played everything really low risk and kept cashing out and buying back in on a low, so I didn't even double my investment since getting into cryptocurrency. I still have made maybe an 85% return so far, which has been really something. I hope I can continue making money so someday Jon and I can buy a house... damn would that be nice.
Damnit.. Ripple (XRP) just tripled in price in the past day and a half. Went from $.25 apiece up to $.80 apiece. I had my finger on the trigger with a couple hundred bucks and could’ve tripled my money overnight.
There’s this guy named Ronnie Moas who is a financial advisor. Out of 4000 financial advisors, he is ranked number eight In making accurate predictions. He talks about the future of Bitcoin in this podcast. He basically says that if you’re willing to sink a couple months salary into bitcoin, you’ll be able to retire 5-10 years earlier..
Ronnie’s word are definitely inspiring, I’ve got a rather healthy 401K but I’ve never felt super optimistic with my investments until now..
Does anyone know, on coinbase, if I transfer bitcoin to my usd wallet, how long does it take for the transfer to clear? Is it a case where it would clear rather quickly and I'd be able to buy bitcoin or etherium with it with in a few hours, or does it take up to a week like with a bank account?
Where are you buying XRP, @noeleaser ? I've only used GDAX, and wasn't really planning on opening multiple accounts on various exchanges, but it'd be nice to have access to some of the more affordable coins now that LTC and ETH have made some hefty jumps.
Not quite sure what you're asking (or if I can answer). Where is your BTC now? If you want to buy BTC why would you "transfer bitcoin to [your] usd wallet"?
If you're already signed up with Coinbase I'd suggest using GDAX for all your buying/selling - you can set buy/sell limit and stop orders, and when everyone was freaking out about Coinbase halting buy/sell of LTC the other day it looked like people were buying/selling just fine through GDAX. Here's are some links to info about transfers on GDAX - sounds like it takes about 30m (or less) for a crypto transfer to complete.
My bitcoin is through coinbase. Basically when I bought it from a bank account it took a week for the transaction to clear and to actually have the bitcoin in my account. Now I'm trying to find out if I sell bitcoin but instead of depositing it to my bank account just move it to the usd wallet on coinbase how long it will take for the transaction to clear and to have those usd funds to buy erheriun or lightcoin, or even sell bitcoin high, let it drop a grand and rebuy.
I actually didn’t buy any, I was going to but haven’t yet. I was planning on using Bitstamp, I registered for an account. I actually bought some IOTA through Binance instead today when it dipped below 3 bucks..
I’m pretty sure the transfer is instant but honestly you’re better off just leaving it. People usually have really shitty luck when it comes to selling high and buying at dips..
By the way, there’s a new app on the way called Zilla. It’s going to allow you to participate in ICOs right from your smartphone! Their website is zla.io. The app is coming real real soon!
I bypassed Coinbase and deposited USD straight into GDAX, so I can't really speak to how buying/selling on CB works. But because GDAX is CB's exchange, transfers between GDAX and CB should be quick (30m) and simple. Once you transfer your BTC to GDAX you can sell your BTC and the sale is completed instantly if you do a market-priced sell. Then you have USD in your GDAX account that you can use to make instant buys of BTC/LTC/ETH. Or, as I mentioned above, you can set buy/sell limits to try to get in/out at specific prices.
You could also purchase LTC/ETH with your BTC, rather than converting to USD.
Thanks I'll look into switching.
I just round my Ripple secret key! Now I need to figure out how many XRP I have and where to store them.
According to this I might have 1,000 XRP!
You could get a ripple wallet and store it on an encrypted external hard drive.
I use three exchanges, Kraken for USD trading between top coins like Ripple (though they're missing a few like IOTA, XEM, and others), Bittrex for altcoins, and HitBTC for ICOs before they go public since technically the US can't participate directly in many of them.
To be honest though, I barely use my HitBTC account and just am letting whatever I had bought sit there for now. I have had bad luck with the past two ICO tokens I bought through there (AMB and FUEL) so I don't trust ICOs much. They're basically Kickstarters with no promise of a finished working product. Basically a crapshoot until we have some kind of regulations put forth, which sounds kind of counter-intuitive, but even Vitalik (ETH creator) says ICOs are "doing it wrong."
I'd say for the majority of trades, I just trade on Kraken. Fiat trading is a huge advantage to keeping profits safe, and fees are so astronomically low compared to other exchanges... though at the cost of reliable service. It's common to have an order not go through the first 5 times you send it, but they announced they are systematically going to be upgrading their servers AND adding new coins/tokens with the coming of the new year. I hope this means more USD pairs.
Bittrex is amazing. Tons of coins. I use an experimental method here where I buy $20 worth of a coin and sell when it reaches an equivalent of $40. Then I put in an order based off of the low point for... you guessed it, $20 worth, and the cycle starts anew. If it keeps working I'll bump up the $20 to $30 and beyond, but so far it's been working out nicely.
Also, a few essentials:
A portfolio app that tracks your value across all exchanges like Cryptoport or CoinManager
Coinmarketcap.com so you can see percentage changes and market cap rankings (generally safer investments are near the top, though everything has been chaotic lately)
Cryptocompare.com so you can track percentage changes on a specific exchange, see how one exchange's price compares to another, and generally I like their charts better than CMCap
Reliable crypto news sources. Twitter is surprisingly a crazy hub for crypto talk. Do NOT use traditional financial websites like Bloomberg, CNN, FOX, MSNBC, Yahoo!, etc. They have published false news before and some of their articles sound like they were written by people who don't understand crypto at all. There's also a ton of anti-crypto propaganda. THE BANKS ARE SCARED BAHAHA
Did anyone here have trouble with ID verification on Coinbase?
Been trying to upload dl for days now. Ticker just keeps spinning into oblivion.
Yes, made a gdax account and uploaded there, the accounts are linked so do it through gdax and it will also verify on coinbase.
@JoeMan Thanks. Started the process on GDAX (didn't much appreciate it hijacking my webcam) but validation was stalled on both that and the coinbase end for the past couple days.
*about 30 mins after that post got the validation email. Maybe one of their admins is an SB lurker...
1 more question: has anyone experienced any hiccups withdrawing funds or was it a relatively seamless process?
yesterday was fun with coinbase adding BCH. BTC, LTC, ETH all dipped pretty hard, and if you caught it or at lease on the come up you got some instant gains.
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