Buying bitcoins

jester77

Mr. Manager wrote: »

Not a pretty sight to wake up to

hodl

lawred2

crowseye wrote: »

Different demoninations I think, coinmarketcap looks like its working with one iota while bitfinex is probably selling by mega iota (1 million iota)

boom - on the money

It's a megaiota for 43c

I think I might buy a few so I can feel like a multimillionaire

cnocbui

I can sell you a bucket of sand for a very good price. You'll be rich in no time.

DeVore

I've been 3 weeks waiting to get Tier 3 Validation on Kraken ... anyone got any suggestions for an exchange that will do it quickly if investing 5 figures?

nuac

cnocbui wrote: »

I can sell you a bucket of sand for a very good price. You'll be rich in no time.

Might be onto something there. Isn't silicon got from sand? Huge demand from the computer industry for silicon.

EPA and Planning Authorities restricting taking or excavation of sand from beaches or anywhere else.

Sand comes and goes at various points of the coast. Recent example in Dooagh Achill. I know of some other present sand deposits which did not appear on original Ordnance Survey of approx 1830. imho these immune from EPA etc sanctions.

Preparing to launch company Gainimh.com to exploit those secret sandbanks. Gainimh will be huge. Will go to the moon, if not the sun

Meanwhile copies of the 1830 OS map showing locations of these new sand deposits available at an unreasonable cost of one gold sovereign each.

The sovereign will still be valuable long after all other currencies, fiat or crypto, have sunk

jester77

DeVore wrote: »

I've been 3 weeks waiting to get Tier 3 Validation on Kraken ... anyone got any suggestions for an exchange that will do it quickly if investing 5 figures?

Coinbase are fast. If you use their mobile app, I think it can auto-verify your license within a few mins. SEPA transfers are fast, I can send money in the morning and it is there at lunch.

But I am limited to 9k of transactions per week at the moment. I think it can be increased with a second ID.

The only thing is that they can't handle a large load, so if prices are moving fast in either direction they tend to fall over.

DeVore

Yeah.... fell over during signup... not the most reassuring

I'll stick with it when it comes back up.

lawred2

Either profit taking or people losing their arses at the moment...

boardie100

a lot of the drop is to do with bitmains statement yesterday.... id say there are many sellers panicing after this

https://blog.bitmain.com/en/uahf-contingency-plan-uasf-bip148/

plus others who are just sick of the stalemate

DeVore

Any growth like that is going to give rise to a "correction"... mostly because that opinion (<-- back there) is known to be prevalent. Interesting eh?

I think most people see the value of Eth going north but not at the rate it did this month. More likely people expected *on average* something like 100 a month over a 12 month period. Excessively fast growth is catnip to the guys trying to time it and they are a self fulfilling prophesy.

I've been trying to buy in bulk since it was 94. Very frustrating waiting for the exchanges (both kraken and bitstamp have messed me about).

Tom.

jester77

lawred2 wrote: »

Either profit taking or people losing their arses at the moment...

The only ones losing are the ones that jumped in over the last 2 months. Everyone else is still up.

Aspiring

Just bought a ledger nano s after hearing about a vulnerability in Jaxx. Won't ship till August unfortunately.

makeorbrake

lawred2 wrote: »

Either profit taking or people losing their arses at the moment...

If you're looking at short term trading, then yes. I'm in since shortly after the Mt.Gox calamity. Not bothered in the slightest by the latest slide. May it slide further - and I'll double up.


Either way, I'm maintaining a long term hold policy - whilst monitoring developments day by day. Of course, it's my totally unqualified opinion but most of these newly released 'coins' or 'tokens' are vapourware. No doubt something useful will come through at some stage but it will be a diamond in the rough.

That doesn't stop the rest of you shorting and profit taking. However, I'm not going to invest in anything that I don't have a semblance of knowledge of and an interest in (i.e. if I can't see any intrinsic value in it, then I'm not interested).

DeVore

makeorbrake wrote: »

If you're looking at short term trading, then yes. I'm in since shortly after the Mt.Gox calamity. Not bothered in the slightest by the latest slide. May it slide further - and I'll double up.


Either way, I'm maintaining a long term hold policy - whilst monitoring developments day by day. Of course, it's my totally unqualified opinion but most of these newly released 'coins' or 'tokens' are vapourware. No doubt something useful will come through at some stage but it will be a diamond in the rough.

That doesn't stop the rest of you shorting and profit taking. However, I'm not going to invest in anything that I don't have a semblance of knowledge of and an interest in (i.e. if I can't see any intrinsic value in it, then I'm not interested).

This is kinda my view too... I've bought Eth in the 200's and will continue to buy (when the exchanges arent rammed!) and hold for an estimated 12-18 months. Its going to vary wildly in that time but its a long term buy-and-hold imho.

lawred2

DeVore wrote: »

This is kinda my view too... I've bought Eth in the 200's and will continue to buy (when the exchanges arent rammed!) and hold for an estimated 12-18 months. Its going to vary wildly in that time but its a long term buy-and-hold imho.

Same - I'm already in double my money territory with ETH (wish I was even 4 weeks sooner and I'd be doing better than that) but my plan is to hold 12 - 24 months...

longer if suits

lawred2

DeVore wrote: »

I've been 3 weeks waiting to get Tier 3 Validation on Kraken ... anyone got any suggestions for an exchange that will do it quickly if investing 5 figures?

I'll invest it for you.. I have tier 3 verification

KilOit

Think the crypto millionaires caused this to cause panic for average Joe to sell and buy huge amounts in the dip. Look at the buy walls. Only lose if you sell

cnocbui

boardie100 wrote: »

a lot of the drop is to do with bitmains statement yesterday.... id say there are many sellers panicing after this

https://blog.bitmain.com/en/uahf-contingency-plan-uasf-bip148/

plus others who are just sick of the stalemate

I think some of it is that and some is the Fed's 0.25% increase and promise of more to come.

I did a bit of reading on the Bitmain statement and it would appear that the actual outcome will be a positive boost for SEGWIT and that he will effectively be forking himself and may well be out on his own with his new coin that few others supports.

We had this panic and nervousness with Unlimited, then Bitcoin took off like a rocket and only history remembers Unlimited.

I wouldn't mind Core forking bitcoin and changing the code so ASICS lose their advantage for mining and graphics cards come back into favour. Buy AMD shares if that happens. Good luck finding any AMD grapics cards even at the moment! It would be rather nice to see the investment by the Chinese miners with warehouses full of ASICs go pop, and Bitmain too.

jester77

KilOit wrote: »

Think the crypto millionaires caused this to cause panic for average Joe to sell and buy huge amounts in the dip. Look at the buy walls. Only lose if you sell

Yeah, something is going down. I find it a little strange that the owner of Bitmain would come out in support of a hard fork, as he is the one that is going to lose hard if that happens. But that statement seems to be making the market very nervous right now. It's hard not to be a little cynical right now about his motivation.

Probably best to stay away from the markets until August!

lawred2

https://status.coinbase.com/

Coinbase has been embarrassing itself the last four days

Aspiring

Coinbase is useless when you actually need it. Kraken is the best I've found.

lawred2

jester77 wrote: »

The only ones losing are the ones that jumped in over the last 2 months. Everyone else is still up.

I meant losing their nerve and panic selling

machiavellianme

Bit of a recovery these last few hours.
Maybe that's the end of the adjustment?

DeVore

machiavellianme wrote: »

Bit of a recovery these last few hours.
Maybe that's the end of the adjustment?

Who the f*** knows... this is so wild-west it could go either way but the buy pressure seems sustained and the "prevailing wisdom" seems to be a long term positive trend.

I'm half tempted to go mad and put a site wide announcement that I've hacked Eth so as to crash the price so I can buy in >,<

el diablo

It looks like big government and the central bankers are starting to get involved and are attempting to spook the markets. Think it's only going to get worse from here. They will do their best to discourage their citizens from taking their funds out of the system and depositing them in cryptocurrencies.

Interesting times ahead.

makeorbrake

el diablo wrote: »

It looks like big government and the central bankers are starting to get involved and are attempting to spook the markets. Think it's only going to get worse from here. They will do their best to discourage their citizens from taking their funds out of the system and depositing them in cryptocurrencies.

They've been at that for the past 8 years....not that this takes away from your point. They just keep taking different approaches in doing so.

el diablo

makeorbrake wrote: »

They've been at that for the past 8 years....not that this takes away from your point. They just keep taking different approaches in doing so.

They'll surely up their game now that cryptos have received a lot more attention recently. Their whole FIAT currency system is on the verge of collapse due to endless quantitative easing and unsustainable debts.

Dohnjoe

el diablo wrote: »

They'll surely up their game now that cryptos have received a lot more attention recently. Their whole FIAT currency system is on the verge of collapse due to endless quantitative easing and unsustainable debts.

On the verge of collapse for centuries.. any day now!

Then the 700+ unstable, risky, volatile, impractical, wouldn't-dare-put-your-savings-into-it, can-crash-30%-in-a-day cryptos will become the world's currency! all hail!

:pac:

crowseye

Ether is likely to go back up again pretty soon, the Status ICO has been moved to Tuesday and the Civic ICO is Wednesday so I'd expect a rise although after that is anyone's guess.

conditioned games

Dohnjoe wrote: »

On the verge of collapse for centuries.. any day now!

Then the 700+ unstable, risky, volatile, impractical, wouldn't-dare-put-your-savings-into-it, can-crash-30%-in-a-day cryptos will become the world's currency! all hail!

:pac:

The global financial system almost collapsed in 2008. It was through massive currency printing and debt creation by central banks around the world that reinflated the popped stock market and housing bubbles. They have no ammunition left if the current over-inflated stock markets give way which this time will take down the massive bond and derivatives bubble created. Should this happen then say goodbye to the debt based fiat currencies. But hey let's pretend we can sustain this parabolic debt creation for ever and ignore the blaring obvious!

conditioned games

makeorbrake wrote: »

They've been at that for the past 8 years....not that this takes away from your point. They just keep taking different approaches in doing so.

It's been easy to invest in Cryptos since Bitcoin came along in 2009. Government have been behind the curve thus far. However now that it is taking off in the last 2 months they will have to target Cryptos to stop the flow of funds from the banking system that owns them.

Currently the US government is working on an anti money laundering terrorist bill that will target Cryptos. Given that there is no central control to target like a bank they will have to go after the platforms like Coinbase. It will be interesting how they go about it.

cnocbui

el diablo wrote: »

They'll surely up their game now that cryptos have received a lot more attention recently. Their whole FIAT currency system is on the verge of collapse due to endless quantitative easing and unsustainable debts.

No it isn't.

makeorbrake

el diablo wrote: »

They'll surely up their game now that cryptos have received a lot more attention recently. Their whole FIAT currency system is on the verge of collapse due to endless quantitative easing and unsustainable debts.

We're not anywhere near that point. In the short to medium (and mid to long term), crypto's can exist just fine alongside FIAT - and establish themselves.

conditioned games wrote: »

It's been easy to invest in Cryptos since Bitcoin came along in 2009. Government have been behind the curve thus far. However now that it is taking off in the last 2 months they will have to target Cryptos to stop the flow of funds from the banking system that owns them.

Currently the US government is working on an anti money laundering terrorist bill that will target Cryptos. Given that there is no central control to target like a bank they will have to go after the platforms like Coinbase. It will be interesting how they go about it.

Various governments have tried all sorts of shenanigans - banning them, then unbanning them, then tar and feathering bitcoin (a practice that continues - and you can expect that to continue for plenty of years to come) - associating it with silk road, with ransomware, with drugs, paedophilia, terrorism - you name it.
The Fed in the U.S. very reluctantly more or less gave it - it's blessing (to an extent) a couple of years back - but only because they know that if they don't try to semi-legitimise it, they drive it underground (and it will still be used). They know that they will struggle to regulate it - but decided back then to struggle with that rather than to force it into the black market completely.

The banks - also perpetuate the evils of cryptocurrencies. Furthermore, many of them have been toying with bitcoin exchanges - one minute supporting them with banking facilities and then the moment they get a tiny bit of momentum going - they plug the rug out from under them. The main bottleneck for a long time was making BTC accessible to the ordinary joe - and that's still problematic.

michaelp97

Which should I invest in if I were to, bitcoin or ETH?

Dohnjoe

michaelp97 wrote: »

Which should I invest in if I were to, bitcoin or ETH?

Maybe both is a good idea. Bitcoin has stood the test of time, and Eth is doing very well so far.. both seem head and shoulders above the rest

el diablo

michaelp97 wrote: »

Which should I invest in if I were to, bitcoin or ETH?

You're not investing, you're speculating.

el diablo

cnocbui wrote: »

No it isn't.

So according to you the world economy is in great shape and there's little chance of an economic collapse any time soon? Perhaps it's time to get your head out of the sand.

Supercell

And we are back, hope nobody panicked in the last couple of days and sold their ETH, still a little cheap, next bull run will be to $500, wouldn't be surprised if we see that before the end of the month.
One lesson I've learned from this is to not trade in ETH/BTC pairs in times like these, should has been ETH/USDT, should have sold around the two day top and bought yesterday, would have done nicely - next time!

KilOit

Supercell wrote: »

And we are back, hope nobody panicked in the last couple of days and sold their ETH, still a little cheap, next bull run will be to $500, wouldn't be surprised if we see that before the end of the month.
One lesson I've learned from this is to not trade in ETH/BTC pairs in times like these, should has been ETH/USDT, should have sold around the two day top and bought yesterday, would have done nicely - next time!

Strong hands here.. I'm in it till my portfolio is zero or 100k even the lowest point yesterday I was still 600€ up so wasn't worried. Ltc is looking good this morning

Dohnjoe

el diablo wrote: »

So according to you the world economy is in great shape and there's little chance of an economic collapse any time soon? Perhaps it's time to get your head out of the sand.

There are no indicators of a significant crash or collapse any time soon. Inflation and interest rates picking up slightly.. which is actually a good thing. Countries are doing better on average than previously, Italy has had a wobble but seems to be holding, Greece is getting by, some countries like Brazil have taken a step backwards, but on aggregate the world is doing better. Countries like Argentina have reentered the bond markets.

Regulation is still happening today after the '07 crash, so a systemic crash is even more unlikely.

lawred2

solid rebound since about 7PM last night...

Some mad swings in folio value in 24 hours...

safetyboy

I was buying BTC on blockchain.info with my CC about 2 weeks ago now the 2 factor auth text dont come through anymore, anyone any idea why this would be?

lawred2

This has probably been asked before but I want to put a secure offline wallet in place but for multiple cryptos...

namely ETH, DGB and XRP

Plus there will be others.

Most material online seems to be specific to BTC. Is it possible to create one wallet for all? Or is it one wallet per currency?

crowseye

lawred2 wrote: »

This has probably been asked before but I want to put a secure offline wallet in place but for multiple cryptos...

namely ETH, DGB and XRP

Plus there will be others.

Most material online seems to be specific to BTC. Is it possible to create one wallet for all? Or is it one wallet per currency?

Jaxx is the main one that does multiple cryptos but I'd stay well away they had security issues over the last week which cost people around 400k. Not sure are there any other decent options.

makeorbrake

@lawred2: Trezor coverts the following (if you're thinking in terms of a hardware wallet);

Which coins are currently supported?
At this moment it is Bitcoin, Ethereum (+ all ERC-20 tokens), Ethereum Classic, ZCash, Litecoin, Namecoin, Dogecoin, Dash and Bitcoin Testnet.

lawred2

What about an encrypted USB drives to store private keys? I've seen some chatter about that. How does that work? And how does one go about moving the coins out of the exchanges?

makeorbrake

lawred2 wrote: »

What about an encrypted USB drives to store private keys? I've seen some chatter about that. How does that work? And how does one go about moving the coins out of the exchanges?

I'm sure if you ask him nicely, cnocbui can advise you on the former. As regards the latter, it's a 2 minute job to transfer funds from one cryptocurrency address to another cryptocurrency address (well, so long as there isn't any delay in the case of bitcoin....transaction time being a much talked about item these days).

Bawnmore

Does anyone have any experience with transferring to/from Coinbase and how a bank would treat it in relation to a mortgage application?

lawred2

makeorbrake wrote: »

I'm sure if you ask him nicely, cnocbui can advise you on the former. As regards the latter, it's a 2 minute job to transfer funds from one cryptocurrency address to another cryptocurrency address (well, so long as there isn't any delay in the case of bitcoin....transaction time being a much talked about item these days).

I've transferred coins plenty of times - it's generating the addresses for an offline wallet that I'd be scratching my head about.

Plus I'd be terrified of doing it wrong and vanishing my coins.

KilOit

lawred2 wrote: »

I've transferred coins plenty of times - it's generating the addresses for an offline wallet that I'd be scratching my head about.

Plus I'd be terrified of doing it wrong and vanishing my coins.

They work fine. Did it for sia and ark.. Do a test run, few coins to see if it works ok