Quoted from russdx:Any one having issues with being locked out of there Coinbase account or having it put “under review” so you can’t access your portfolio.
Not me, I just tried and got in fine. And I bought $200 more of bitcoin yesterday through Coinbase when it was down for a bit. Good luck in solving it!
Quoted from atrainn:I had a bunch of Bitcoin back in like 2011 (50-100), but used most of it over the years when it was worth <$100 since I was a broke college kid and paid nothing for them
Which would be worth between 1.6 - 3.2 million today :-0
It's sorta like Tesla stock, was really tempted to buy like $10k around the beginning of the pandemic thinking "Buy it now while it's only $100 share", but my boss convinced me that things would get worse before they'd get better. I'd have $75k worth of stock today had I ignored his advice.
Quoted from toyotaboy:Which would be worth between 1.6 - 3.2 million today :-0
It's sorta like Tesla stock, was really tempted to buy like $10k around the beginning of the pandemic thinking "Buy it now while it's only $100 share", but my boss convinced me that things would get worse before they'd get better. I'd have $75k worth of stock today had I ignored his advice.
It's always hard to call those things. I sold the 50 shares of Amazon I had right around $440 thinking that was as high as it would go, today it's at $3207. People with a lot of money can afford to hold things longer, take more chances, and get a lot richer in the long run.
Quoted from toyotaboy:Which would be worth between 1.6 - 3.2 million today :-0
It's sorta like Tesla stock, was really tempted to buy like $10k around the beginning of the pandemic thinking "Buy it now while it's only $100 share", but my boss convinced me that things would get worse before they'd get better. I'd have $75k worth of stock today had I ignored his advice.
It's easy to look back now at bitcoin being worth a few bucks and regret it, but there's nothing I can do about it now. At least those transactions back in the day helped to cement it as having value.
Luckily I didn't use all of it 
.
Quoted from Isochronic_Frost:When do you think that Flippening will finally happen? I think ETH is the future as well but it seems bitcoin will always overshadow it.
When will people realize ETH actually has massive utility?
It's a great question and who knows if it ever will happen, but I hope it does. Right now all of the alt coins just do whatever bitcoin does, they never seem to raise/drop on their own. If crypto is seriously embraced then Ethereum is by far the most promising (in my opinion)
In my opinion, if crypto ever really takes off as a currency bitcoin will NOT be the one people use. Too much of it is gone into the ether. Tons of it was "lost" with MTGox, and another huge percentage is locked in long forgotten wallets from people who mined in the early days. Friends who mined with me back in the very early days had numerous btc, but they are long gone on old harddrives or have totally forgotten the passwords to the wallets.
They tried to fix the supply issue with Bitcoin Cash, but that didn't really take off at all.
Quoted from atrainn:It's easy to look back now at bitcoin being worth a few bucks and regret it, but there's nothing I can do about it now. At least those transactions back in the day helped to cement it as having value.
Luckily I didn't use all of it .It's a great question and who knows if it ever will happen, but I hope it does. Right now all of the alt coins just do whatever bitcoin does, they never seem to raise/drop on their own. If crypto is seriously embraced then Ethereum is by far the most promising (in my opinion)
In my opinion, if crypto ever really takes off as a currency bitcoin will NOT be the one people use. Too much of it is gone into the ether. Tons of it was "lost" with MTGox, and another huge percentage is locked in long forgotten wallets from people who mined in the early days. Friends who mined with me back in the very early days had numerous btc, but they are long gone on old harddrives or have totally forgotten the passwords to the wallets.
They tried to fix the supply issue with Bitcoin Cash, but that didn't really take off at all.
BTC will not be the "daily use currency" of the future...but it will remain the most valuable. Bitcoin is the ultimate hard money and no other crypto can even threaten that. You need Bitcoin's decentralization, scarcity, network effects and PoW energy usage in order to be the leading Store of Value.
That doesn't mean other crypto's won't provide services or have value. I own ETH and LTC as well...but will always hold (hodl) more BTC.
Quoted from atrainn:Tons of it was "lost" with MTGox, and another huge percentage is locked in long forgotten wallets from people who mined in the early days.
You can bet the Chineese are going to resurrect it or die trying.
A bit of a question for fun, though I’m not sure if these are enjoyed here haha.
Let’s say someone came up to you and asked you to help them spend $4000 on crypto currencies. They want anywhere from 2-5 types, and a variety of “safer” to “new and a gamble”. How would you spend that 4K?
And also, would you be telling them now is a good time, or to wait a month or two for a market correction you feel is imminent soon?
I have a buddy who’s been into crypto for a few years, so I’ll likely talk to him about this more too. But thought it might be fun to see what everyone here recommends.
Quoted from sixtyfourbits:A bit of a question for fun, though I’m not sure if these are enjoyed here haha.
Let’s say someone came up to you and asked you to help them spend $4000 on crypto currencies. They want anywhere from 2-5 types, and a variety of “safer” to “new and a gamble”. How would you spend that 4K?
And also, would you be telling them now is a good time, or to wait a month or two for a market correction you feel is imminent soon?
I have a buddy who’s been into crypto for a few years, so I’ll likely talk to him about this more too. But thought it might be fun to see what everyone here recommends.
Personally market correction in February. Wait for it. As for those other coins most of them are goofy shit. A ton of pump and dump scams.
Quoted from sixtyfourbits:A bit of a question for fun, though I’m not sure if these are enjoyed here haha.
Let’s say someone came up to you and asked you to help them spend $4000 on crypto currencies. They want anywhere from 2-5 types, and a variety of “safer” to “new and a gamble”. How would you spend that 4K?
And also, would you be telling them now is a good time, or to wait a month or two for a market correction you feel is imminent soon?
I have a buddy who’s been into crypto for a few years, so I’ll likely talk to him about this more too. But thought it might be fun to see what everyone here recommends.
BTC, ETH and LINK. I'm a believer in LINK as a utility token and not just an investment.
As for a correction, who knows. This rally is far different than the rally back in 2017. Even haters from a few years ago are now buying in large quantities. Hell, just look at JPMorgan. A few years ago it was "a fraud" and now they are calling for a $146,000 price target.
Institutional investing is light years ahead of where it was even a year ago and it's being embraced by large corporations.
My thoughts have always been that as long as the government doesn't show up and shit all over everything, prices are going to keep going up. The only problem with my half assed theory, is that the government always shows up to screw someone when they are trying to make a few dollars.
Quoted from EricHadley:I’m mining RVN like no tomorrow, it’s the crypto of the future.
I looked it up quick and it appears to be ASIC resistant. Is it GPU or CPU based? I took down my ETH miner when it was costing $75/month in electricity to make $35 in ETH.
I have two Litecoins. I know that one has been as high as $400 but then it tanked. Do you think I should dip out now while it is $164? Or should I continue to HODL? I never see Litecoin being talked about anymore, which makes me think it doesn't have longterm utility. Thoughts?
Quoted from Spyderturbo007:I looked it up quick and it appears to be ASIC resistant. Is it GPU or CPU based? I took down my ETH miner when it was costing $75/month in electricity to make $35 in ETH.
GPU based. I am rocking 9 GPU's at the moment. It earns about $300/month and costs about $140/month to run. I don't sell any though, I am holding them with hopes of a higher value in the future.
Quoted from EricHadley:GPU based. I am rocking 9 GPU's at the moment. It earns about $300/month and costs about $140/month to run. I don't sell any though, I am holding them with hopes of a higher value in the future.
Any one ever tried running these things from solar panels? would then be free cryto?
Quoted from russdx:Any one ever tried running these things from solar panels? would then be free cryto?
In theory, yes. Do you have a source for free solar panels? 
Quoted from russdx:Any one ever tried running these things from solar panels? would then be free cryto?
Would be nice, but would take probably a couple dozen panels to produce enough juice? My rig consumes 1500 watts. Plus then you'd only be able to mine when it's sunny out vs 24/7
RVN should see a nice bump a year from now when the reward is halved.
Quoted from ralphwiggum:In theory, yes. Do you have a source for free solar panels?
Well free once paid them off
Any guidance you can point me to setup to do this as we has excess power to use up
Quoted from EricHadley:I’m mining RVN like no tomorrow, it’s the crypto of the future.
Quoted from sixtyfourbits:A bit of a question for fun, though I’m not sure if these are enjoyed here haha.
Let’s say someone came up to you and asked you to help them spend $4000 on crypto currencies. They want anywhere from 2-5 types, and a variety of “safer” to “new and a gamble”. How would you spend that 4K?
And also, would you be telling them now is a good time, or to wait a month or two for a market correction you feel is imminent soon?
I have a buddy who’s been into crypto for a few years, so I’ll likely talk to him about this more too. But thought it might be fun to see what everyone here recommends.
I'd buy 1K of Bitcoin and 1K of Ethereum today and then wait an see if there is a dip in the coming months to buy more. At that time maybe pick up a few $100 in riskier coins, but honestly, those never panned out for me. I bought 2K more of Bitcoin and Ethereum about 10 days ago while Paypal was offering with no transaction fees before the new year, it's already up a ton. Hoping we see this continue with the institutional buying and rush, as well as election results, but there could easily be a dip in February or March as this rush wears off.
Quoted from EricHadley:GPU based. I am rocking 9 GPU's at the moment. It earns about $300/month and costs about $140/month to run. I don't sell any though, I am holding them with hopes of a higher value in the future.
What pool are you in and which miner? DAG for ETH is too big for my 4GB cards, so I might as well mine some RVN.
Quoted from Spyderturbo007:What pool are you in and which miner? DAG for ETH is too big for my 4GB cards, so I might as well mine some RVN.
I mine with https://rvn.nanopool.org/
They have some really good instructions on how to setup and mine with them.
Quoted from Multiballmaniac1:So glad i threw a grand at BTC years ago. This is getting awesome.
Hopefully it was 10 years ago.
Quoted from Multiballmaniac1:Not too far off
And you have not cashed out since? Must be sat on millions lol?
3C18EB6C-5198-40C2-A947-1E1C37AFCDC2 (resized).jpeg
Anyone do anything with crypto - crypto transactions? I did my first today and it seems to be a giant pain in the ass when it comes to tax reporting. I mean, how in the hell does this help me calculate things back to USD?
Does anyone here us anything to track this stuff? I've always used Blockfolio to keep track of what I have, but haven't done much in the way of trading.
Quoted from Multiballmaniac1:So glad i threw a grand at BTC years ago. This is getting awesome.
I still have the 1.2 bitcoins from 6 years ago. Thought it was cool last time it spiked and crashed, this is nuts this time.
If only I wouldn't of spent the other 3 I had....
Quoted from hocuslocus:I still have the 1.2 bitcoins from 6 years ago. Thought it was cool last time it spiked and crashed, this is nuts this time.
If only I wouldn't of spent the other 3 I had....
Nothing wrong with sitting on $50K.
Just think of it as digital gold. If there is uncertainty in the world, crypto can be a reasonable hedge. I bought it back in 2015 to do online gambling. I wish I had done less gambling and more accumulation... But I still have a couple coins with a basis of around $900
Quoted from toyotaboy:finite size, yes. Coin wouldn't be dead, it would only go up in value because it can't be mined anymore (supply / demand)
But I don’t think it could be bought/sold either because the chain can’t hold anymore transactions.......
according to this page because of the way the reward is halved each time, it's diminishing returns the closer you get to the end. We aren't due to hit the end until the year 2140 so enjoy the ride
https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/
Freaking Coinbase put my account under review for no reason got a stern LE sat in there and can’t touch it 
Zero support worst company ever.
Quoted from russdx:Freaking Coinbase put my account under review for no reason got a stern LE sat in there and can’t touch it
Zero support worst company ever.
That sucks. I keep the majority of my coins off exchange in a cold wallet. I only have there what I plan on trading or what my hardware wallet doesn’t support.
Edit -> Is it under review or restricted? Some people on Reddit are saying they had to log in from a computer and only then did it ask questions or force them to update their 2FA. Have you tried logging in on a desktop computer?
Quoted from Spyderturbo007:That sucks. I keep the majority of my coins off exchange in a cold wallet. I only have there what I plan on trading or what my hardware wallet doesn’t support.
Edit -> Is it under review or restricted? Some people on Reddit are saying they had to log in from a computer and only then did it ask questions or force them to update their 2FA. Have you tried logging in on a desktop computer?
Its under review, I had all sorts of issues with them asking to re verify my documents after about 10 attempts it finally worked but then they just stuck me in this "under review" state where all buy/sell/transfer buttons are disable, I cant even withdraw to my bank so basically can just stare at my BTC not touch it in any way. I have tried many different computers, the app all sorts. The login works fine its just stuck in this under review state.
Been like this for 3 weeks with no response from coinbase, i'm almost certain its fraudulent to stop some one from accessing there funds without a reason? I am now in talks with the FCA and reported coinbase for illegal activity maybe they can help.
If you research it and take a look at twitter it appears hundreds if not thousands of people are in a similar situation. Plus there exchange crashes every time BTC rises/drops fast. The exchange is a total joke for UK customers.
Quoted from russdx:Its under review, I had all sorts of issues with them asking to re verify my documents after about 10 attempts it finally worked but then they just stuck me in this "under review" state where all buy/sell/transfer buttons are disable, I cant even withdraw to my bank so basically can just stare at my BTC not touch it in any way. I have tried many different computers, the app all sorts. The login works fine its just stuck in this under review state.
Been like this for 3 weeks with no response from coinbase, i'm almost certain its fraudulent to stop some one from accessing there funds without a reason? I am now in talks with the FCA and reported coinbase for illegal activity maybe they can help.
If you research it and take a look at twitter it appears hundreds if not thousands of people are in a similar situation. Plus there exchange crashes every time BTC rises/drops fast. The exchange is a total joke for UK customers.
I saw that there were some people getting help in their subreddit. Not sure if that would work for you or not?
Good luck!
Quoted from Spyderturbo007:I saw that there were some people getting help in their subreddit. Not sure if that would work for you or not?
Good luck!
Thx yeah Iv put a few help posts up nothing yet but hopefully they will respond sooner then later
If any one wants to upvote my Reddit post so gets more visibility I would really appreciate it
https://www.reddit.com/r/CoinBase/comments/kt51ks/account_stuck_under_review_for_3_weeks_now_please/
Quoted from russdx:If any one wants to upvote my Reddit post so gets more visibility I would really appreciate it
Done.
Quoted from EricHadley:But I don’t think it could be bought/sold either because the chain can’t hold anymore transactions.......
There is only a limit to the number of Bitcoin...there is no limit on the number of transactions.
I had no idea how many ppl had been fucked over by coinbase and are in the same situation as me on Reddit, its quite scary. Id strongly suggest if you have large sums of crytp there get it out ASAP might find your account "under review" for no reason in the near future as well.
Quoted from russdx:I had no idea how many ppl had been fucked over by coinbase and are in the same situation as me on Reddit, its quite scary. Id strongly suggest if you have large sums of crytp there get it out ASAP might find your account "under review" for no reason in the near future as well.
I just went over and read a bit of it. That's scary. I hope it all gets sorted out for you asap.
Hmmm, I only have a few hundred dollars in bitcoin there, maybe I should transfer it to my Binance account.
Quoted from Spyderturbo007:Nothing wrong with sitting on $50K.
I'm not complaining.
Gonna let it ride.
I had a drunk 20 something year old guy talk my ear off about it a few years ago at a party and how rich he was going to be.
Last I heard he's back living with his mom so.....
Quoted from russdx:Been like this for 3 weeks with no response from coinbase,
Yeah, I have most of my coin with them. I tried moving it back in June to an offline wallet, but it kept giving me an error(after hitting send). Started a ticket with them and they kept sending me cookie cutter responses. After a few weeks I gave up. Coinbase customer support sucks.
Wanna join the discussion? Please sign in to reply to this topic.
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/36 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.
Allyn, WA
