Buying bitcoins

A Battered Mars Bar

A Battered Mars Bar wrote: »

Lads just bought 1,000 Iota. How do I make a wallet and transfer.....what's with typing 81 characters out and writing them down and remembering them crack about

Never mind I figured it out I think. So if my laptop goes on the ruddy brink. I can just enter my seed on a different one? How do I back up the wallet or password protect it? Need to forget about this wallet for 2 or 3 years now

Grumpypants

Zascar wrote: »

Lads I have a question that I can't figure out. When you buy altcoins, how is it's fiat/dollar value it affected by the price of Bitcoin etc?

For example, I buy 1x BTC @ e.g. $4000. I use this to buy an altcoin, lets call it ABC. Now lets assume in 3 months time - ABC has not changed in value, its exactly the same - but Bitcoin is now $5000. If I sell my ABC into Bitcoin, and then cash into $ - have I made money? Or have I got that wrong...

Basically if the increasing value of bitcoin good, bad or indifferent to the fiat value of my altcoins?

No you won't make money. You would buy 1 bitcoin then buy 1 ABC. Then on the way back you would sell 1 ABC but only get .80 of a bitcoin. But that .80 is now worth 4k so you end up with your initial investment.

For your ABC to remain valued at 1 bitcoin it needs to rise in value inline with bitcoin.

wannabecraig

DeVore wrote: »

Top left look for Trading... down to IOTA and then IOTA/BTC ... you then want to place a BUY order.

Do you need to wait a while until the buy comes through? I placed a margin buy and it said successful or whatever but wallets are still the same.

snowstreams

wannabecraig wrote: »

Do you need to wait a while until the buy comes through? I placed a margin buy and it said successful or whatever but wallets are still the same.

You probably still had an open order so. That happens when the rate changed just after you submitted a buy.
You can cancel orders in the order tab.

wannabecraig

snowstreams wrote: »

You probably still had an open order so. That happens when the rate changed just after you submitted a buy.
You can cancel orders in the order tab.

Na, doing something wrong, there are loads of orders in the ordered tab, none pending, I'll screenshot in daytime for advice. It's not an easy interface. Did the exact same thing today and worked, this evening, no dice

My total BTC is going down but not being added to my IOT balance

machiavellianme

wannabecraig wrote: »

Na, doing something wrong, there are loads of orders in the ordered tab, none pending, I'll screenshot in daytime for advice. It's not an easy interface. Did the exact same thing today and worked, this evening, no dice

My total BTC is going down but not being added to my IOT balance

That's likely because the Bitcoin are reserved for your purchase but your order hasn't been filled yet.

jester77

Sounds like you made a limit buy and you wanted to make a market buy.

Market buy will buy the coins at the current price. Limit buy will create an order and fill it once the price hits the target you specified. Your bitcoins will held aside so that they can be used for your order and you won't have access to them unless you cancel your order.

Bitcoin

Finally have my Coindesk account funded after a torture of a signup process. Missed out on so many gains in the months passed by, but at least I can start buying now.
Where do people think the biggest gains are today, they say ETH is undervalued? I am thinking an allocation of 75% ETH and 25% BTC is the way to go.

Zascar

Very hard to say. I believe ETH has better growth potential in the long term because of the platform and the technology but BTC seems to be steaming ahead with no sign of stopping. Surely it will at some stage and lots for people will jump off the train. I'm sorta hoping when this happen many will pile into alts and they will get a bull run.

The Cuban

For now I think Ethereum is stagnant. Lots of issues for it in the next year such as errors in the smart contracts which are starting to rear its ugly head.

jester77

Hard to see BTC not continuing to rise. You need it for alt coins, so people will always be buying it, it has a limited amount available, and the big investment firms are getting very interested and creating packages for their clients around crypto.

cnocbui

Bitcoin wrote: »

Finally have my Coindesk account funded after a torture of a signup process. Missed out on so many gains in the months passed by, but at least I can start buying now.
Where do people think the biggest gains are today, they say ETH is undervalued? I am thinking an allocation of 75% ETH and 25% BTC is the way to go.

Speaking personally, I would swap those two numbers around and you'd be about right, if you are thinking of holding for a while rather than day trading.

The Cuban

The only Alt coin you should be buying at the moment is Bitcoin cash. It has already toppled Ripple from 3rd position, its next assault is on Ethereum.
Massive weekend ahead for Bitcoin cash, with a further reduction in mining difficulty it is now more profitable to mine BCH.
$1000 soon

jobless

The Cuban wrote: »

The only Alt coin you should be buying at the moment is Bitcoin cash. It has already toppled Ripple from 3rd position, its next assault is on Ethereum.
Massive weekend ahead for Bitcoin cash, with a further reduction in mining difficulty it is now more profitable to mine BCH.
$1000 soon

huge spike in last 24hrs....whats the reason i wonder?

Bitcoin

cnocbui wrote: »

Bitcoin wrote: »

Finally have my Coindesk account funded after a torture of a signup process. Missed out on so many gains in the months passed by, but at least I can start buying now.
Where do people think the biggest gains are today, they say ETH is undervalued? I am thinking an allocation of 75% ETH and 25% BTC is the way to go.

Speaking personally, I would swap those two numbers around and you'd be about right, if you are thinking of holding for a while rather than day trading.

Ooops too late

Bitcoin

The Cuban wrote: »

The only Alt coin you should be buying at the moment is Bitcoin cash. It has already toppled Ripple from 3rd position, its next assault is on Ethereum.
Massive weekend ahead for Bitcoin cash, with a further reduction in mining difficulty it is now more profitable to mine BCH.
$1000 soon

Noob question, but how are people buying the other ALT coins? I get the feeling it's important to have diversification to others because we just don't know which one will be the next big hit. I have a real fear that by just holding ETH and BTC, I will be stuck with very small gains, while some coin that may not even be invented yet goes up 100x.

studdlymurphy

Hi guys, this thread is massive with lotsbif different options. Does anybody have a guide how to get set up and buy Bitcoin? Step by step if possible. Thanks for the help.

stevedublin

studdlymurphy wrote: »

Hi guys, this thread is massive with lotsbif different options. Does anybody have a guide how to get set up and buy Bitcoin? Step by step if possible. Thanks for the help.

register with bitstamp would be most straightforward imho.
They're an exchange where you can buy bitcoin and they hold it for you.
You could always download a wallet (e.g. copay) later and transfer your bitcoin from the exchange (if holding the bitcoin yourself is important to you)

djan

studdlymurphy wrote: »

Hi guys, this thread is massive with lotsbif different options. Does anybody have a guide how to get set up and buy Bitcoin? Step by step if possible. Thanks for the help.

Think its time to get a sticky going as this questions crops up all the time.

I always recommend Coinbase to get into it first due to its ease of use. While the fees are a little higher they do offer easy registration and you can transfer money by SEPA for free and then buy BTC, ETH & LTC for fees of 1.49%. Also can use their trading platform of GDAX once you get more comfortable. Their sotare seems safe with actual physical storage and is insured by Lloyds London if the exchange gets hacked etc. (does't cover someone getting your login details and taking your funds though)

Can pm referral code so we both get 8eur

makeorbrake

djan wrote: »

Think its time to get a sticky going as this questions crops up all the time.

Crypto definitely needs it's own sub-forum. God help anyone trying to find the info they're looking for from this single thread.

DeVore

New subforum is being discussed.

OU812

djan wrote: »

Can pm referral code so we both get 8eur

Could you send one here too please?

cnocbui

Bitcoin wrote: »

Ooops too late

If you don't fix that soon, that may well be the case.

Frisbee

makeorbrake wrote: »

Crypto definitely needs it's own sub-forum. God help anyone trying to find the info they're looking for from this single thread.

Agreed, I'm trying to get my head around it at the moment but this thread is massive so hard to figure out exactly what is required. Coinbase is recommended regularly but only seems to allow you to buy BTH, ETH & LTC which seems a relatively shallow pool. Is there another platform that allows you to dip your toes into a more diverse range? I see IOTA / BCO being mentioned as well. Is something like bitfinex preferable to Coinbase?

Grumpypants

Bitcoin cash on a roll, back up to €500. I thought I was great cashing in at €350 last night.

Tar.Aldarion

I'm on blockchain.info so haven't gotten my bitcoin cash, but may as well leave it alone and see how things go at this rate.


Can I get my CC cash into a wallet without moving by BTC by just importing the private key into a BC cash wallet? Actually I think I asked about this already. /looks

The Cuban

Have to recommend kraken over coinbase. kraken has the biggest share of the euro market and supports 20 different coins at the moment all of which can be traded for Euros.

djan

The Cuban wrote: »

Have to recommend kraken over coinbase. kraken has the biggest share of the euro market and supports 20 different coins at the moment all of which can be traded for Euros.

Huge fan of Kraken, but for ease of use for a complete beginner its quite complicated with their set up. I'd take the higher fees and ease from Coinbase to ease into it and then move on to more feature filled and multiple coin exchanges.

Definitely agree on the handyness of trading through euro and to have such a wide selection too!

Green maniac

Rumours:
bitcoin programmers are splitting ideas as segwit2x is locking in. The fight is devouring bitcoin.core so today some programmers are thinking in.locking a new bitcoin , not.confirmed.yet !!!! : B2X ....... no need.for.panic. this new coin can start anytime now .

percy glendening

Hi
I got my Bitcoin Cash from Bitcoin i had left on Kraken Exchange
But ....
I have Bitcoin in Electrum since before aug 1st
To claim my Bitcoin Cash is there any easier way than below link
electrum.org/bcc.txt
Thanks !

The Cuban

If your coins were stored on the electrum wallet then happy days

https://www.youtube.com/watch?v=i7--pmPa11E

OU812

OU812 wrote: »

Could you send one here too please?

LOL, I've four PMs with referral codes. I used DJans.

Does coinable do the bitcoin cash?

snowstreams

OU812 wrote: »

LOL, I've four PMs with referral codes. I used DJans.

Does coinable do the bitcoin cash?

Do you mean coinbase? They aren't going to support bitcoin cash until around Xmas I've heard.

snowstreams

I presume it's BTC that might fork again and not bitcoin cash? Another fork will surely affect the price of either of the bitcoins.

annie.t

bitcoin cash rally

Bitcoin

snowstreams wrote: »

I presume it's BTC that might fork again and not bitcoin cash? Another fork will surely affect the price of either of the bitcoins.

Either is likely to be a bullish indicator for prices.

Bitcoin

Frisbee wrote: »

makeorbrake wrote: »

Crypto definitely needs it's own sub-forum.  God help anyone trying to find the info they're looking for from this single thread.

Agreed, I'm trying to get my head around it at the moment but this thread is massive so hard to figure out exactly what is required. Coinbase is recommended regularly but only seems to allow you to buy BTH, ETH & LTC which seems a relatively shallow pool. Is there another platform that allows you to dip your toes into a more diverse range? I see IOTA / BCO being mentioned as well. Is something like bitfinex preferable to Coinbase?

Very happy with Coinbase so far, but really feel like I need to diversify into other coins.

SureYWouldntYa

Bitcoin wrote: »

Very happy with Coinbase so far, but really feel like I need to diversify into other coins.

Whatever Bitcoin you have and want to diversify on coinbase can then be transferred to Bittrex to invest on the various coins offered there

DeSelby83

How do I get a binance account. I have submitted a request but it just seems odd i can't just sign up.

snowstreams

DeSelby83 wrote: »

How do I get a binance account. I have submitted a request but it just seems odd i can't just sign up.

I had no issues creating a binance account. I just needed to confirm my email address. Are you doing in through a mobile browser?

DeSelby83

snowstreams wrote: »

DeSelby83 wrote: »

How do I get a binance account. I have submitted a request but it just seems odd i can't just sign up.

I had no issues creating a binance account. I just needed to confirm my email address. Are you doing in through a mobile browser?

Yes I am, I'll try desktop later to see if that works

Xrp123

If anyone here is interested in ripple, I have created a club on xrpchat for Irish people, it's called the Irish brigade. Feel free to check it out and join up. Lots of useful info on the forum on ripple and other cryptos.

Green maniac

Cheers

el diablo

Bitcoin Cash is on fire. You boys still holding it or have you sold?

stevedublin

big jump in Dash, anyone know what thats about?

MortGoldman

el diablo wrote: »

Bitcoin Cash is on fire. You boys still holding it or have you sold?

I'm holding a small bit of BCH, but mostly I'm spread over ETH, MCO, NEO & OMG. Looking to get out of my alts now though, and then trade solely on the ratio ETH/NEO to increase my stash of both.

cnocbui

el diablo wrote: »

Bitcoin Cash is on fire. You boys still holding it or have you sold?

Still holding all mine. I never thought the get in before it crashes idea was fully reasoned.

Grumpypants

el diablo wrote: »

Bitcoin Cash is on fire. You boys still holding it or have you sold?

Sold at 350 as i'd bought at 250 and thought i was doing good and it was sure to drop again ! Now it is 750.

el diablo

cnocbui wrote: »

Still holding all mine. I never thought the get in before it crashes idea was fully reasoned.

Me too, I'm holding long term. I don't have much Bitcoin Cash though in comparison to BTC (only moved a small proportion of my BTC to Kraken to take advantage of the fork).

snowstreams

I only bought BCC yesterday morning after I heard rumors. I might wait till it reaches $1000 before selling. It's still doing well enough despite a few dips today.