Cryptocurrency
- Thread starter Playboi Carti
- Start date
I just bought some BTC last week and had no issue with the bank, but it did take about 6 days to process.
Don't know if there is anything to this or not, but I think some dollar cost averaging of a monthly purchase amount makes sense to me as long as it is discretionary income. Coinbase lets you set up a monthly automatic purchase.
I even purchased a secure USB to store the currency once my account gets up to an amount to actually worry about.
If you buy with a debit or credit card the transaction is instant.
A couple articles in an ongoing series on some of the issues facing cryptocurrencies and their exchanges:
Why You Can't Cash Out Part 1: Why Bitcoin's "Price" Is Largely Fictional
Why You Can't Cash Out Part 2: Bitcoin and Know Your Customer/Anti Money Laundering Laws (KYC/AML)
Why You Can't Cash Out Part 1: Why Bitcoin's "Price" Is Largely Fictional
Why You Can't Cash Out Part 2: Bitcoin and Know Your Customer/Anti Money Laundering Laws (KYC/AML)
I would argue that blockchain is wildly useful, take a look at the list of members for Ethereum https://entethalliance.org/members/ There are some heavy hitters in there who think that it's worth putting money into.
I would also say that using cryptocurrencies takes power away from banks. This year alone banks made 97 trillion on transaction fee's. If we switched to using cryptocurrencies like BTC, Eth or LTC would reduce the amount of fees down to 2 trillion world wide. (This book which is non partisan Amazon product ASIN 1250081556 is my source)
I would encourage watching this TED talk on the uses of the blockchain:
Wow ripple is up 107% this week, good thing I invest last week. Bought at 80 cents now it's at $2.24. You won't see this types of increases in the stock market.
Cardano is doing well today also. Picked up 188 at .40 and its at .49 today. Do you think it could hit $3 next year?
I'm pissed because I only bought 13 coins, still a good return tho. I bought it 9 day ago and my order still isn't filled. It's so frustrating not actually have the coin and seeing the price go up.
Cardano is going to blow up in 2018 . It's #6 on the total market cap but it's only sold on 5 of 7,411 markets. Once it gets added to more markets the price will go up. I thinking it breaks a $1 in a month and could be $10 by next year.
That's why I'm investing for the short-term. I don't think most of these coins will be around in 3 years. And the government will probably step-in a couple years.
I watched your video and it still doesn't change my mind. I think that best case we are still riding up the first peak on the Hype Curve. Right now everyone is talking about the possibilities but eventually someone will discover how hard it will be to get there from here.
/r/allGDAX has now kept over $10,000 worth of my BTC hostage from me for a MONTH. (self.Bitcoin)
submitted 5 hours ago * by doebro
Reddit please upvote for visibility. The BTC that I deposited into GDAX on 11/30 has still yet to be credited to my account (tx has over 4000 confirmations). This is after having no issues with gdax for years.
After calling, emailing, and receiving only template responses at best from Coinbase, I’m at a loss for what to do.
If you’re considering trading, please for your own sake check out alternatives. I’m not saying Coinbase is a fraud, I’m just saying they’re spread too thin in case you actually do need to get in touch with their staff. I’ve personally moved all btc to fiat and fiat to btc to Gemini.
edit: case ID 2652513 relevant blockcypher of btc tx
submitted 5 hours ago * by doebro
Reddit please upvote for visibility. The BTC that I deposited into GDAX on 11/30 has still yet to be credited to my account (tx has over 4000 confirmations). This is after having no issues with gdax for years.
After calling, emailing, and receiving only template responses at best from Coinbase, I’m at a loss for what to do.
If you’re considering trading, please for your own sake check out alternatives. I’m not saying Coinbase is a fraud, I’m just saying they’re spread too thin in case you actually do need to get in touch with their staff. I’ve personally moved all btc to fiat and fiat to btc to Gemini.
edit: case ID 2652513 relevant blockcypher of btc tx
I'd be pretty suspicious if there is that much lag with purchases. Timing is everything, and if someone has far superior access than you, they are eating your lunch with that ability.
That guy is an idiot. The uses are exploding. Blockchain is here to stay.
I'll just leave it at his first argument. There is already an instant way to exchange money, cash. Sure if you two meet in person and that always has some risks. Digital currencies allow this to happen between any two people in the world.
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The FreeTalkLive podcast has stated that Bitcoin is pretty much useless these days. The fees have gotten (or corresponding transaction confirmation time because you sent with a low few) so high that the initial draw of Bitcoin is gone. They also say that some of the original and more Libertarian developers have been forced out and the developers don't seem to care about the uselessness of the current Bitcoin. I trust them as they have been talking about it since well under $10 and the one guy apparently mortgaged his house to buy at ~$10.
Bitcoin is useless imo. It's popular because it's the first ever coin and everyone has heard about it. You can't send a transaction under $35 ( learned that the hard way) because of the network fees. Bitcoin isn't here to last.
Ok, so one of the example uses that TEDtalk mentioned was supply chain traceability. Industries that really need transparency in the supply chain - food and drugs, nuclear, etc - already have those mechanisms in place. Take food specifically as an example. Are you going to bother tracing the history of that steak back to the farm it came from every time you go to the store? There's already mechanisms in place to do that even if it's not fully transparent to the consumer.
If you don't trust any person or organization and require independent verification of everything, how do you get anything done? If some people/organizations don't participate in the blockchain then its no different than today's systems. If everyone must participate then how does it pass the libertarian "smell test" of less regulation and no barriers to market entry?