Watching bitcoin

Can you trade coins on Coinbase? The only option I see is to deposit back to your bank account. If not, how do you trade coins?

Continued research has me a bit worried about coinbase. I’ve read numerous instances of terrible customer service and locked accounts. It appears this company is drastically understaffed and can’t handle the demand. They shut down trading of litecoin today due to high activity, wtf is that all about?

Perhaps what gives me the greatest pause is the fact they require you to provide your social security number AND a photo of you drivers license! Hello identify theft. Hackers have already stole millions of dollars worth of bitcoins, why wouldn’t they steal personal data?

Is there a site you can purchase coins from that is more anonymous? I thought one of the big ideas behind crypto was keeping information private.

biggill wrote:

Can you trade coins on Coinbase? The only option I see is to deposit back to your bank account. If not, how do you trade coins?

Check out Bittrex. Its a trading platform.

Like you said before, GDAX is Coinbase’s trading site, if MN would allow it.

walleyevision wrote:

Continued research has me a bit worried about coinbase. I’ve read numerous instances of terrible customer service and locked accounts. It appears this company is drastically understaffed and can’t handle the demand. They shut down trading of litecoin today due to high activity, wtf is that all about?

Perhaps what gives me the greatest pause is the fact they require you to provide your social security number AND a photo of you drivers license! Hello identify theft. Hackers have already stole millions of dollars worth of bitcoins, why wouldn’t they steal personal data?

Is there a site you can purchase coins from that is more anonymous? I thought one of the big ideas behind crypto was keeping information private.

The ID verifiation is to appease the KYC rules put in place by Gov’t regulation. All exchanges that deal with fiat currency will ask for this. If only using Coinbase as a wallet, i dont think you need to do this. Depositing or withdrawing fiat, you must.

Thanks for clarifying.

Reviving the old bitcoin thread.

It’s been a crazy couple months. The bubble burst in January bringing everything back to earth.

The big news is LitePay. This is a system for every day vendors to accept money without the volatility of the crypto market. The processing fees are a fraction of the cost of a cc transaction. Another benefit is the the transaction happens in a matter of a couple minutes. So in a couple minutes, the vendor has their fiat $$$. You can even have your paycheck (or a portion of it) direct deposited to your lite LitePay account.

http://m.nasdaq.com/article/will-litepay-be-the-game-changer-that-takes-cryptocurrency-mainstream-cm918280

https://www.litepay.us/

To me this is the first real sign that it is 100% viable and here to stay. It takes the crypto volatility risk out of the equation for the vendor while reducing operating costs.

Pretty excited. Since I started this thread I’ve kept and bought more LTC. I hoping for a surge at the end of the month!

biggill wrote:

Pretty excited. Since I started this thread I’ve kept and bought more LTC. I hoping for a surge at the end of the month!

I got quite a bit of LTC back in April. The surge got me excited, then it burst and now it looks like it’s slowly coming back. For the price I paid, I figured it would be better than spending $50 on scratch-offs…and by the looks of it, it is.

HODL!

I lost $5 while reading the Everts Resort thread.
DT

I made $1 while reading your reply.

Is it just me or is everyone else getting crazy amounts of emails from PayPal lately? I have a feeling they are trying very hard to stay relevant.

My financial advisor said that the sharks got in and waited for the grandmas to get in-now that that has happened it has reached its peak and they are pulling out-no intrinsic value in the stuff–bye bye.

I do believe there are whales at play in this market. However, with every dip comes an opportunity for new money to enter the space.

My fear is the market will become so diluted with coins that offer nothing new. The new money gobbles up these new coins hoping for the 100% day. Some pay, some are scams.

I don’t see this tech going away, but i do see the gains slowing dramatically in the short term.

There is value in this technology. I just don’t see why Visa hasn’t developed their own blockchain. Why offer BitPay and Litepay, when Visa could offer its own and wipe out cryptos altogether.

At this point visa is based on real money. Once they see that people will pay them for a fictional visacoin, then we will see what the value of the other coins will be. Why are people investing in these new coins?? They hope they gain value based on supply and demand of the nothing that is a bit type coin. The only good thing about these coins right now is the volatility. A guy can double his money in a few weeks or months fairly easily. Of course, this all depends on the masses of people staying with that type of e-coin. In my mind, the real proffit went out of the main crypto coins once they allowed the corporate investors in. At this point I’m out of them. They are just too watered down. Something will change with the technology to make many go away. Then maybe I’ll get in one that looks special. Why isn’t bitcoin special? Just look at the time it takes to make a transfer. Make that transfer happen in .1 second and you’ll have a more viable universal currency. Ok, that’s it, my brain hurts. Back to figuring out how to make a fish with a pea brain bite a hook.

I also see the gains slowing in the short and possibly the long term. It only makes sense that the market needs to stabilize in order for people to begin to trust it. The only way they gain right now is when some kind of news around the crypto market makes them fall, then there’s a rebound when everyone buys when the prices are low.

The only other way they gain is when one of them has a breakthrough that gives them some value to one over another. I think what Litecoin/LitePay is doing is potentially bringing the general public into the market. It could be huge if people start seeing the benefits.

Heck, I’ve been to gas stations that state a $10 minimum purchase if you use a credit card. That means they are paying too much for each transaction. LitePay aims to reduce that cost significantly. When you start seeing the L in the checkout line, people will start to wonder what it is.

Taking the bank out of the equation I think is a pretty big deal and is only the tip of the iceberg of where this can go.

Jon Jordan wrote:

Bitcoin = Ponzi Scheme. I would not put a nickle into it.

After peaking at close to $20,000, todays value is roughly $3,300. With the expectation it will be around $1,500 soon.

The Ponzi has cashed in.

-J.

I can’t invest in it… all my money is tied up in change.

On another note.. the next big thing will be “Q”… taking a huge swipe at conventional credit cards… they charge 3% or more to handle your money and give you 1 to 2% back in “free miles” somebody’s losing every time.

Well since posting last I lost a lot so I cut my losses and got out.
DT

So I never jumped on the band wagon. I always just pay cash. Am I missing something? Is there a certain bonus to buying make believe money. If so I have to monopoly boxes full of it down stairs

https://www.monopolycoin.org

biggill wrote:

https://www.monopolycoin.org

Oh boy.

I must be out of the loop

Curious how this all went down? Anybody make some money? Is it still a thing? Scam? Got a brother-in-law who was going to really make it big on this. Bought a supercharged computer that solved these equations or something.

I don’t want to talk about it….
DT

deertracker wrote:

I don’t want to talk about it….
DT

That bad huh?!?!

MNdrifter wrote:

<div class=”d4p-bbt-quote-title”>deertracker wrote:</div>
I don’t want to talk about it….
DT

That bad huh?!?!

Buy high, sell low! Looks like the price has been rallying lately.

I made $5 per share on Riot Blockchain since November 9th. Lots of interest in bitcoin and related companies right now.

In case you missed it: Bitcoin is on a rollercoaster to the moon over the past year. It started the year trading at 7k and it’s now at 19k. Lots of talk about big investors/hedge funds starting to get in on BTC.

Gas is 45,000 bitcoin a gallon in Nevis today.

belletaine wrote:

Gas is 45,000 bitcoin a gallon in Nevis today.

It’s 44,994 in Park Rapids. They always rip you off in Nevis on account of all the big money tourists there.

Grouse