Bitcoin and Crypto Talk (Merged)(includes NFT) (1 Viewer)

[superchuck500]

Can someone tell me how Coinbase works? Can I buy and sell whenever?

Presuming you have the coin or cash in your CB account you can. If you’re funding from outside bank account, the coin isn’t available for about a week - it’s a security feature.

 

[CanadianSaint]

 

[SaintInBucLand]

I would not buy this at all. It's like catching a falling knife.

 

[superchuck500]

I would not buy this at all. It's like catching a falling knife.

Not really. It bounced back over $16K this morning. If you bought at $11K and sold at $16K that’s about 40% in 24 hours. It’s just extremely volatile. It’s the nature of this asset right now. It’s not for investing unless you buy it and forget about it. Otherwise you’re in trader’s market

 

[blasian]

It’s not for investing unless you buy it and forget about it.

Pretty much. It's actually really interesting doing the research on up and coming technologies. Understanding how it works and the partnerships that go along with it. Catching it before everyone else does is usually key, but using the dips as opportunity to buy in and hold is also good. I bought in to BTC when it was less than 10k and sold at 18k. LTC was less than $100 when I bought and I sold for triple. Took all that and invested a few less known, but good potential for a more long term, more stable solution.

 

[mt15]

Interesting who and what is using bitcoin, as well as the possibility it’s not as anonymous as people think:

“Websites such as WeSearchr, which raises money for a “bounty” for information, and Hatreon, where donations can be made to alt-right figures such as Andrew Anglin, primarily use bitcoin for fundraising.

Bitcoin purchases can be traced by a determined researcher. And, the Southern Poverty Law Center will be releasing a list of 200 accounts tied to white nationalists and racists in the coming week.

Forbes Magazine put bitcoin’s secrecy to the test by purchasing small amounts of marijuana online, then asking a researcher to see if she could figure out where the transactions originated.

She found the buys and traced it back to Forbes.”

https://www.splcenter.org/hatewatch...raising-sources-bitcoin-fills-gap-hate-groups

 

[RazorSaint]

Interesting who and what is using bitcoin, as well as the possibility it’s not as anonymous as people think:

“Websites such as WeSearchr, which raises money for a “bounty” for information, and Hatreon, where donations can be made to alt-right figures such as Andrew Anglin, primarily use bitcoin for fundraising.

Bitcoin purchases can be traced by a determined researcher. And, the Southern Poverty Law Center will be releasing a list of 200 accounts tied to white nationalists and racists in the coming week.

Forbes Magazine put bitcoin’s secrecy to the test by purchasing small amounts of marijuana online, then asking a researcher to see if she could figure out where the transactions originated.

She found the buys and traced it back to Forbes.”

https://www.splcenter.org/hatewatch...raising-sources-bitcoin-fills-gap-hate-groups

Bitcoin is not anonymous in and of itself. If you deposit money into Coinbase using your checking account, it deposits the BTC in your Coinbase wallet, and then you send the BTC from there to a darknet market wallet, then that transaction is fairly easily traced back to you, because there is a direct link between the marketplace and your Coinbase wallet which is tied to your dox. But, what if I were to use a VPN/Tor to install an wallet that could be used as an intermediate wallet between Coinbase and the market? It would be much harder to prove who owns that wallet (you don't have to provide any proof of identify to install a new wallet), and who exactly sent the money to the market. Basically, it's the wallets, Tor, and VPN that are anonymous, and as a decentralized digital currency, BTC can exist in that medium.

I'm kinda sick that I didn't bite the bullet and drop some coin on Ripple a couple of days ago. I was *this close* to buying some when it was $1.07, but decided against it. It reached over $1.90 today.

 

[DCSaints_Fan]

Can someone tell me how Coinbase works? Can I buy and sell whenever?

For small amounts, pretty much. There are transaction limits, however. I don't think you can buy/sell 10,000 bitcoins at once Also if you pay by credit card they take 4%. You can transfer funds from your bank and they take a much smaller percentage (1% I think), but it took over a week for my bank transfer to clear.

 

[RazorSaint]

For small amounts, pretty much. There are transaction limits, however. I don't think you can buy/sell 10,000 bitcoins at once Also if you pay by credit card they take 4%. You can transfer funds from your bank and they take a much smaller percentage (1% I think), but it took over a week for my bank transfer to clear.

This is how you convert your dollars to crypto, but don't day trade using Coinbase. Coinbase allows you to transfer your funds for free to gdax, which only charges around 0.025% per trade.

I don't necessarily recommend day trading, but if you do, pay .025% and not 4%.

 

[DefKhan1]

Started using Binance today. Bought some XRP (Ripple).
There’s like a 100 different Cryptocurrencies on there!
Any other recommendations to buy and hold?
I missed the BTC train and am not going to invest 15,000 to buy one.

 

[blasian]

Started using Binance today. Bought some XRP (Ripple).
There’s like a 100 different Cryptocurrencies on there!
Any other recommendations to buy and hold?
I missed the BTC train and am not going to invest 15,000 to buy one.

I bought Ripple when it was under .80 and enjoying the climb. I also invested in TRX and XVG as my riskier investments with higher yields hopefully. All have their own specific purpose in the crypto world.

 

[DefKhan1]

I bought Ripple when it was under .80 and enjoying the climb. I also invested in TRX and XVG as my riskier investments with higher yields hopefully. All have their own specific purpose in the crypto world.

Will have to check out TRX & XVG.
Bought a couple Monero and some IOTA.

 

[RKNSaint]

Bitcoin is not anonymous in and of itself. If you deposit money into Coinbase using your checking account, it deposits the BTC in your Coinbase wallet, and then you send the BTC from there to a darknet market wallet, then that transaction is fairly easily traced back to you, because there is a direct link between the marketplace and your Coinbase wallet which is tied to your dox. But, what if I were to use a VPN/Tor to install an wallet that could be used as an intermediate wallet between Coinbase and the market? It would be much harder to prove who owns that wallet (you don't have to provide any proof of identify to install a new wallet), and who exactly sent the money to the market. Basically, it's the wallets, Tor, and VPN that are anonymous, and as a decentralized digital currency, BTC can exist in that medium.

I'm kinda sick that I didn't bite the bullet and drop some coin on Ripple a couple of days ago. I was *this close* to buying some when it was $1.07, but decided against it. It reached over $1.90 today.

Hi Razor, what exchange are you using to purchase the more excure type's of crypto? I have coinbase/etherium but feel the need to branch out. Thank. RKNSAINT

 

[superchuck500]

Started using Binance today. Bought some XRP (Ripple).
There’s like a 100 different Cryptocurrencies on there!
Any other recommendations to buy and hold?
I missed the BTC train and am not going to invest 15,000 to buy one.

The more and more currencies are traded, the softening the demand will get across all but the premium coins. Its more like beanie babies than a true asset market.

Unless there’s some specific technology or use that makes a new currency advantageous, it’s hard to justify buying it - but then again, it’s all so speculative anyway.

 

[RazorSaint]

Hi Razor, what exchange are you using to purchase the more excure type's of crypto? I have coinbase/etherium but feel the need to branch out. Thank. RKNSAINT

I use Bittrex, but I've heard Binance is good too.