(Topic ID: 200502)

Somebody explain Bitcoin to me

By Pinballlew

6 years ago


Topic Heartbeat

Topic Stats

  • 1,905 posts
  • 176 Pinsiders participating
  • Latest reply 3 years ago by toyotaboy
  • Topic is favorited by 34 Pinsiders

You

Linked Games

No games have been linked to this topic.

    Topic Gallery

    View topic image gallery

    24DFBEB7-8D16-4BCC-98BE-2B2382FD19D1 (resized).png
    D3084087-E36D-48C7-A5BC-26D25E893558 (resized).jpeg
    3C8B3D30-A5B0-4A43-BE05-5F06EB3FC16E (resized).png
    pasted_image (resized).png
    1_khpKB3DTiXm8v05uZ9rCsA (resized).png
    IMG_0107 (resized).jpg
    IMG_0109 (resized).jpg
    IMG_0108 (resized).jpg
    pasted_image (resized).png
    3C18EB6C-5198-40C2-A947-1E1C37AFCDC2 (resized).jpeg
    Dz-Z3yAUcAACrS_.jpg
    Screenshot_20200312-094655_Coinbase.jpg
    IMG_4773 (resized).JPG
    200% (resized).png
    VIBE currency (resized).png
    bro (resized).jpg
    There are 1,905 posts in this topic. You are on page 23 of 39.
    #1101 6 years ago
    Quoted from Jgel:

    So if Binance is not taking new account and I want to buy with USD what about Kraken or Bitstamp? Can I buy and hold on their site like I do on Coinbase?

    Holding a large balance not used for day trading on any crypto exchange is playing with fire, get a wallet you control, there are a ton of options for this. Particularly for exchanges other than Coinbase (that resides in the US and is FDIC insured) I'd be very leery of storing any quantity with them.

    You can fund Bittrex with USD I think though I've never tried it. GDAX I assume too since that's owned by Coinbase.

    As far as I know you can't really buy most crypto directly with dollars no matter what exchange you are on, they almost all require the funds to be in BTC, ETH, or LTC first, so you'll still have a couple steps of conversion before you get to the crypto fringe.

    #1102 6 years ago

    Coinbase dispels rumors of adding Ripple (XRP) and Ripple drops 20%.

    Co-founder and chairman of Ripple Chris Larsen currently worth 118 Billion (on paper).

    #1103 6 years ago
    Quoted from bkbirge:

    Holding a large balance not used for day trading on any crypto exchange is playing with fire, get a wallet you control, there are a ton of options for this.

    Bingo. I try to only buy coins I can offload to a hardware wallet. I already have a Trezor for BTC, BCH, ERC-20 Tokens, ETH, BTG and LTC. I just ordered a Ledger for XRP. Ledger is supposed to support BAT soon, so I can pull that off the exchange as well.

    Bittrex killed sign ups about 2 weeks ago, so no go there.

    Your best bet is USD -> ETH through CoinBase and then send that to another exchange. Be aware that my ETH out from CoinBase took almost 20 hours to go through yesterday. It wasn't a network issue, but a CoinBase issue.

    Quoted from Astropin:

    Coinbase dispels rumors of adding Ripple (XRP) and Ripple drops 20%.

    That means it's on sale then, right.

    #1104 6 years ago

    Multiple Bitcoin debit card providers suspend service under orders of Visa - https://tnw.to/2Cvzarz

    #1105 6 years ago

    At first that looked scary, until I saw this part right from Visa they just posted in an update:

    "Visa has other approved card programmes that use fiat funds converted from cryptocurrency in a number of jurisdictions. The termination of WaveCrest’s Visa membership does not affect these other products."

    It looks like the issuer wasn't following the rules.

    #1106 6 years ago
    Quoted from Astropin:

    Coinbase dispels rumors of adding Ripple (XRP) and Ripple drops 20%.
    Co-founder and chairman of Ripple Chris Larsen currently worth 118 Billion (on paper).

    They said for now which could mean anything I suppose. If they were adding it they certainly wouldn’t say just yet anyways. Really no telling. At least if and when ripple is added the price will be down.

    #1107 6 years ago

    Has anyone used Etherdelta? I have my eye on a coin, but it's not listed on any of the exchanges. It only shows up there...

    #1108 6 years ago

    Tron, The $14 Billion Whitepaper With No Product - http://www.trustnodes.com/2018/01/05/tron-14-billion-whitepaper-no-product

    "It is a nice idea, but its implementation in a truly decentralized manner while having the speed and convenience of centralized services is very difficult, if at all possible, to achieve at this stage. Which might perhaps be why Tron doesn’t even offer an alpha, as far as we are aware, let alone a full on product, for us to see just how it all works."

    #1109 6 years ago

    i am constantly oscilating between "oh man i'm missing out on all these alt coins blowing up..." and "man i'm glad i'm not a part of this alt-coin nonsense".

    #1110 6 years ago

    Buy TRON before tomorrow morning. Whether this means anything seems irrelevant. Beer company stocks surge when they simply mention cryptocurrency.
    https://www.slashgear.com/tron-coin-price-trx-btc-and-why-its-surging-05513791/

    #1111 6 years ago

    I bought on Bleutrade HTML . Bought 650,000 coins at .0000003. It is now at .000030
    Also have Ripple bought 2000 coins at .46c

    #1112 6 years ago
    Quoted from tatman9999:

    I bought on Bleutrade HTML . Bought 650,000 coins at .0000003. It is now at .000030

    So you're telling us you turned 19.5 cents into $19.50?

    #1113 6 years ago
    Quoted from toyotaboy:

    Buy TRON before tomorrow morning. Whether this means anything seems irrelevant. Beer company stocks surge when they simply mention cryptocurrency.
    https://www.slashgear.com/tron-coin-price-trx-btc-and-why-its-surging-05513791/

    You're probably right (about an overnight gain) but long term Tron looks like a suckers bet...all hype and no product.

    #1114 6 years ago
    Quoted from Astropin:

    So you're telling us you turned 19.5 cents into $19.50?

    But I have 650k coins. This happened in 4 days

    #1115 6 years ago

    But I have 650k coins. This happened in 4 days

    I don’t think that is $19.5
    It is much less. It is not even 1c a coin yet. It is .003 of1c .
    New to this.

    #1116 6 years ago

    I have been playing around with ripple for a couple of months now. Nothing big, money wise, as I'm just seeing how things go and don't really have a lot of spare money at the moment.
    Definitely wont get rich anytime soon but I'm having a bit of fun and learning a little as i go.

    #1117 6 years ago
    Quoted from Astropin:

    You're probably right (about an overnight gain) but long term Tron looks like a suckers bet...all hype and no product.

    Yeah tron will jump large tonight after announcement but hard to say how long it will last. Definately keep a close eye next 24-36 hours and be ready to sell. Will it go back down after all the excitement and where will it settle I wonder.

    I’m very curious if cb is denying ripple rumors just to drive price down before they add it? With no regulation in crypt anything is possible.

    #1118 6 years ago
    Quoted from Spyderturbo007:

    Has anyone used Etherdelta? I have my eye on a coin, but it's not listed on any of the exchanges. It only shows up there...

    I think Etherdelta is an exchange where anyone can create a crypto currency and upload it there on the exchange. Atleast, it sounds familiar when I was watching a YouTube video on creating and listing my own crypto currency >> Toastercoin

    #1119 6 years ago
    Quoted from extraballingtmc:

    I’m very curious if cb is denying ripple rumors just to drive price down before they add it? With no regulation in crypt anything is possible.

    They probably read this:
    https://cryptoyoda1338.wordpress.com/2018/01/04/the-truth-about-ripple/

    #1120 6 years ago

    They probably want a bigger cut of the pie...

    #1121 6 years ago
    Quoted from tatman9999:

    I don’t think that is $19.5
    It is much less. It is not even 1c a coin yet. It is .003 of1c .
    New to this.

    Your original post is saying it is up 9,900%....maybe you should have thrown in 10 bucks instead of 20 cents?

    #1123 6 years ago

    I have already wondered what would happen if the ripple founders just up and cashed out the 60b coins. I totally would. Just walk away with billions of dollars from an unregulated market with little to no fear of repercussions.

    I am fully aware crypt is dangerous and some people are going to get hurt really bad in the near future. I’m just gambling a few bucks I can afford. Personally I don’t even buy into the whole bitcoin as currency thing anyways.

    Going to be very interesting to look back in history one day and see where this all got us.

    #1124 6 years ago
    Quoted from toyotaboy:

    Buy TRON before tomorrow morning. Whether this means anything seems irrelevant. Beer company stocks surge when they simply mention cryptocurrency.
    https://www.slashgear.com/tron-coin-price-trx-btc-and-why-its-surging-05513791/

    25% lost in 24h.
    The more the CEO is teasing, the lower the price goes. He looks like an ass anyway

    IMG_5500 (resized).PNGIMG_5500 (resized).PNG

    #1125 6 years ago
    Quoted from Cheese_WizardPQ:

    25% lost in 24h.
    The more the CEO is teasing, the lower the price goes. He looks like an ass anyway

    I think Disney should sue him.

    #1126 6 years ago

    So when's that announcement coming? 1PM EST?

    #1127 6 years ago
    Quoted from PinballNewb:

    Your original post is saying it is up 9,900%....maybe you should have thrown in 10 bucks instead of 20 cents?

    It looks like this made $2505 Not bad for some penny coins.

    0F6FB184-1C3F-4E64-9232-334241F260F9 (resized).png0F6FB184-1C3F-4E64-9232-334241F260F9 (resized).png

    #1128 6 years ago
    Quoted from tatman9999:

    I bought on Bleutrade HTML . Bought 650,000 coins at .0000003. It is now at .000030
    Also have Ripple bought 2000 coins at .46c

    I created an account and sent $20 over there yesterday. This morning I can login but it keeps erroring out like it can't handle the 1,100 users.

    #1129 6 years ago
    Quoted from toyotaboy:

    I created an account and sent $20 over there yesterday. This morning I can login but it keeps erroring out like it can't handle the 1,100 users.

    That site seems to be very slow with only 1600 people on.

    342BC76D-F6FB-49C7-BA13-A6D28D98335B (resized).png342BC76D-F6FB-49C7-BA13-A6D28D98335B (resized).png

    #1130 6 years ago

    "You ain't made shit until you've got it in USD and your taxes are paid." -- Abraham Lincoln

    #1131 6 years ago

    So how much of this is
    1-pure speculation
    2-actually buying currency thinking it may become the currency of the future
    3-buying various coins as if it were stock in one of the many applications of blockchain? Let's say one of these application really takes off, how does that reflect on the value of the coin itself - can a parallel be made with actual stock in a company?

    I got in at #1/2 and am mostly gambling on it, but with all these different, very specific applications (DentaCoin, po.et, etc.) it's starting to look more like #3 than #2.

    #1132 6 years ago

    For me it's all #1. Crypto might be the future of anonymous wealth transfer but it's still "Gold Rush California" times - too much cowboy bullshit.

    I'm still up despite the various drops but I don't have much invested and can afford to lose it if it all goes belly up. I'd be more concerned by those not just playing around and are investing large amounts.

    #1133 6 years ago

    At the moment the real crypto challenge is to withdraw the money.
    Just try it.
    Every exchange is experiencing problem due to an overwhelming demand. The reality is that they put 90% of their staff on approving new members and deposits. Withdrawals are the last thing they're working on.
    It's the same reason why coinbase didn't add Ripple yet even if it's the 3rd biggest crypto; they're swamped. They run a 200 billions volume with low effectif.
    That's the scary part

    #1134 6 years ago
    Quoted from Cheese_WizardPQ:

    At the moment the real crypto challenge is to withdraw the money.
    Just try it.
    Every exchange is experiencing problem due to an overwhelming demand. The reality is that they put 90% of their staff on approving new members and deposits. Withdrawals are the last thing they're working on.
    It's the same reason why coinbase didn't add Ripple yet even if it's the 3rd biggest crypto; they're swamped. They run a 200 billions volume with low effectif.
    That's the scary part

    Ive got a bitpay Visa card with thousands of US dollars on it all from mining over the last two months. It couldn’t have been easier to set up and it’s been paying for all my groceries and meals out and general shopping.

    I have had zero issues withdrawing from exchanges.

    #1135 6 years ago

    I'm waiting for weeks on a 6 digits withdrawal. Maybe it needs a different set up.

    #1137 6 years ago

    Same card, but it seems the US market is currently unaffected:
    https://twitter.com/BitPay/status/949186646091751424

    #1138 6 years ago
    Quoted from Spyderturbo007:

    Has anyone used Etherdelta? I have my eye on a coin, but it's not listed on any of the exchanges. It only shows up there...

    People have had money stolen from them using a compromised EtherDelta site:
    http://mashable.com/2017/12/21/etherdelta-hacked/

    The recommendation I've seen is to download the ED code from GitHub and host it on your own webserver. Here's a thread from Reddit where people discuss how to do it:
    https://www.reddit.com/r/EtherDelta/comments/723mzq/how_to_run_a_local_etherdelta_copy/

    #1139 6 years ago

    Ethereum on the move...above $1200 right now.

    #1140 6 years ago

    Yeah ether been breaking records. Somewhere safe to put money in between dips

    #1141 6 years ago
    Quoted from XXVII:

    Same card, but it seems the US market is currently unaffected:
    https://twitter.com/BitPay/status/949186646091751424

    Yeah my card still works fine — the problem was with a European issuer not following regulations.

    #1142 6 years ago

    Dammit, I've been converting my monero into bitcoin and now monero is taking off while bitcoin is falling.

    This whole speculation thing is hard!

    #1143 6 years ago
    Quoted from jwilson:

    Dammit, I've been converting my monero into bitcoin and now monero is taking off while bitcoin is falling.
    This whole speculation thing is hard!

    I wouldn't sweat it...when Monero dips Bitcoin will rise.

    If the Lightning network ever gets fully implemented then Bitcoin would really takeoff and Bitcoin Cash would crash...Litecoin might also.

    #1144 6 years ago

    If it's on the hood of a race car, it's gotta be legit right?

    dogecoin (resized).PNGdogecoin (resized).PNG

    #1145 6 years ago
    Quoted from jwilson:

    Dammit, I've been converting my monero into bitcoin and now monero is taking off while bitcoin is falling.
    This whole speculation thing is hard!

    It's called timing the market. And that is impossible with any class.

    #1146 6 years ago
    Quoted from iceman44:

    It's called timing the market. And that is impossible with any class.

    The fun part is I'm also mining monero, which is like I'm printing stocks. That offsets the corrections quite a bit.

    #1148 6 years ago
    Quoted from jwilson:

    The fun part is I'm also mining monero, which is like I'm printing stocks. That offsets the corrections quite a bit.

    More power to you guys, the "action" is certainly attractive and addictive.

    Anybody willing to short Bitcoin for short stretches?

    #1149 6 years ago

    TRX taking a beating and I’m getting Fing annoyed

    #1150 6 years ago

    Yeah the whole announcement but not really thing kinda blew it for them. Hopefully bounce back if the announce alibaba partnership.

    Last week money going into verge then everyone dumped when no wraith. Then all money went into tron but no real announcement and everyone hating. Now verge back up as wraith released. Next week tron back up lol

    There are 1,905 posts in this topic. You are on page 23 of 39.

    Reply

    Wanna join the discussion? Please sign in to reply to this topic.

    Hey there! Welcome to Pinside!

    Donate to Pinside

    Great to see you're enjoying Pinside! Did you know Pinside is able to run without any 3rd-party banners or ads, thanks to the support from our visitors? Please consider a donation to Pinside and get anext to your username to show for it! Or better yet, subscribe to Pinside+!


    This page was printed from https://pinside.com/pinball/forum/topic/somebody-explain-bitcoin-to-me/page/23 and we tried optimising it for printing. Some page elements may have been deliberately hidden.

    Scan the QR code on the left to jump to the URL this document was printed from.