Cryptocurrencies

these exchange sites are killing me ATM--hoping we get a mini crash so I can get funds in before a surge

Kraken says you can put in $2,000 USD if you are tier 2 verified.. but then i go try to put in money and it says you need to be tier 3. I hate giving out the info that is required to be tier 3... if etrade doesn't require it, why would an exchange?

By diehard Go To PostKraken says you can put in $2,000 USD if you are tier 2 verified.. but then i go try to put in money and it says you need to be tier 3. I hate giving out the info that is required to be tier 3… if etrade doesn't require it, why would an exchange?

KYC requirements by financial institutions which are adhering to anti Money Laundering laws/

By diehard Go To PostKraken says you can put in $2,000 USD if you are tier 2 verified.. but then i go try to put in money and it says you need to be tier 3. I hate giving out the info that is required to be tier 3… if etrade doesn't require it, why would an exchange?

Their site wouldn't even process when I entered my tier 3 info--I think they are getting hammered.

I think the best way is to go through any exchange you can make a deposit through, even its not a coin you're particularly hyped for atm, and then just exchange that coin for the coin you want. Realistically, you should be diversifying anyway. You can't predict the market so you should have a diverse portfolio. I'd also suggesting putting something into something trending in the high cents range--what's happening is people see a limit on these coins as they start getting into the thousands and want to drop to something with more "upside". It has happened four times already from BTC to ETH to BTC Cash and now to Ripple. With such a logic, there's never any "missing" the boat, just more like waiting for the next one. At the same time, shit you thought was capped out can then break through a glass ceiling like bitcoin did. Look for higher market caps with lower prices. Obviously don't go away from the big three either.

Gdax has my transaction pending all day while I miss out on gains. Feels bad after I spent the time to research what looked decent ranked 100-400 all night

Been observing this the past year but haven't registered or bought anything. Would have been nice with Ethereum but as it looks now I'm gonna wait. Litecoin might be interesting though. What's your opinion on Ripple?

I remember observing bitcoins back in '13. Crazy how where it is today.

Ripple is probably going to go the moon tbh

Highly suggest a strong investment into xrp

Which site would you recommend for xrp?

By Suen Go To PostWhich site would you recommend for xrp?

Bistamp has a direct purchase via credit card option that might work much more smoothly for you if you're in the EU. Getting declines in the states.

You're going to find that sites are going to struggle to register purchases onto the block chain. That will be a large part of the delays. Particularly in the small sums you're talking (less comission for smaller purchases).

https://i.imgur.com/yUcwydu.gifv

Its beautiful

http://www.newsweek.com/russia-bitcoin-avoid-us-sanctions-cryptocurrency-768742

Real talk I expect that once the US get's there shit together (Post Trump) they are going to go very hard to regulate/destroy cyrptocurrencies.

Anyone knows a site that allows buying/selling when you live in one country but your documents are from another? Coinbase has no option for this particular case right now.

Might take up to two weeks to get verified on bitstamp. Weeeew

Oh my. Obviously about 2013 but demonstrates the ease with which the market can be manipulated.

https://techcrunch.com/2018/01/15/researchers-finds-that-one-person-likely-drove-bitcoin-from-150-to-1000/?ncid=rss&utm_source=tctwreshare&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29&sr_share=twitter

Researchers Neil Gandal, JT Hamrick, Tyler Moore, and Tali Oberman have written a fascinating paper on Bitcoin price manipulation. Entitled “Price Manipulation in the Bitcoin Ecosystem” and appearing in the recent issue of the Journal of Monetary Economics the paper describes to what degree the Bitcoin ecosystem is controlled by bad actors.

To many it’s been obvious that the Bitcoin markets are, at the very least, being manipulated by one or two big players. “This paper identifies and analyzes the impact of suspicious trading activity on the Mt. Gox Bitcoin currency exchange, in which approximately 600,000 bitcoins (BTC) valued at $188 million were fraudulently acquired,” the researchers wrote. “During both periods, the USD-BTC exchange rate rose by an average of four percent on days when suspicious trades took place, compared to a slight decline on days without suspicious activity. Based on rigorous analysis with extensive robustness checks, the paper demonstrates that the suspicious trading activity likely caused the unprecedented spike in the USD-BTC exchange rate in late 2013, when the rate jumped from around $150 to more than $1,000 in two months.”

The team found that many instances of price manipulation happened simply because the market was very thin for various cryptocurrencies including early Bitcoin. “Despite the huge increase in market capitalization, similar to the bitcoin market in 2013 (the period examined), markets for these other cryptocurrencies are very thin. The number of cryptocurrencies has increased from approximately 80 during the period examined to 843 today! Many of these markets are thin and subject to price manipulation.”

The manipulation happened primarily via two bots, Markus and Willy, that seemed to be performing valid trades but did not actually own the bitcoin they were using. During the Mt. Gox hack a number of these bots were able to create fake trades and make off with millions while manipulating the price of BTC.

By Zeus Ex Machina Go To Post

https://twitter.com/joshuatopolsky/status/949134077432598528?ref_src=twsrc%5Etfw&ref_url=https%3A%2F%2Fs9e.github.io%2Fiframe%2Ftwitter.min.html%23949134077432598528

http://www.newsweek.com/russia-bitcoin-avoid-us-sanctions-cryptocurrency-768742

Real talk I expect that once the US get's there shit together (Post Trump) they are going to go very hard to regulate/destroy cyrptocurrencies.

Horrified.

I'm going to invest in some when it suddenly hits a record low.

By Laboured Go To PostOh my. Obviously about 2013 but demonstrates the ease with which the market can be manipulated.

https://techcrunch.com/2018/01/15/researchers-finds-that-one-person-likely-drove-bitcoin-from-150-to-1000/?ncid=rss&utm_source=tctwreshare&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29&sr_share=twitter

By reilo Go To Post

https://twitter.com/TheOnion/status/939201447941558272

By Suen Go To PostMight take up to two weeks to get verified on bitstamp. Weeeew

talk about a blessing in disguise--prices are fantastic right now

there a beginners guide to this

By Smokey Go To Postthere a beginners guide to this

good

now we just need psy chan

By Smokey Go To Postthere a beginners guide to this

What do you need to know?

By Dark PhaZe Go To Posttalk about a blessing in disguise–prices are fantastic right now

So I got verified on bitstamp, tried to make a purchase by credit card and it doesn't work. Didn't work yesterday and doesn't work today. That's just great.

Has anyone / is doing any mining?

By diehard Go To PostHas anyone / is doing any mining?

What do you want to know? How futile it is?

There are guides around that will tell you about how worth your time it is, versus the real costs (including the costs of electricity) if you're interested.

By giririsss Go To PostWhat do you want to know? How futile it is?

There are guides around that will tell you about how worth your time it is, versus the real costs (including the costs of electricity) if you're interested.

Oh yeah ive done it a little bit just for fun on a 1080ti , you can earn like $8 a day but ehhh

I wish Burstcoin would take off, even though it has a shady history (like most coins) i have access to a lot of storage for free and it could actually be a profitable thing.

By diehard Go To PostOh yeah ive done it a little bit just for fun on a 1080ti , you can earn like $8 a day but ehhh

I wish Burstcoin would take off, even though it has a shady history (like most coins) i have access to a lot of storage for free and it could actually be a profitable thing.

I'm not sure there will be a 4th / 5th coin.

BTC, ETH, XRP seem to cover most generations of coin technology.

By giririsss Go To PostI'm not sure there will be a 4th / 5th coin.

BTC, ETH, XRP seem to cover most generations of coin technology.

those are all proof-of-work based, it's lame. Lets at least waste less electricity when obtaining fairy dust.

Seems like the bubble is bursting at the moment

pls stop

Dang what happened to ether today

Lloyds bank (one of the biggest highstreet banks in the UK) has banned the purchase of Bitcoin with credit cards
http://www.bbc.co.uk/news/business-42940728

Who would have thought, banks trying to shut halt a currency the cant control.

By Kidjr Go To PostWho would have thought, banks trying to shut halt a currency the cant control.

lol, is Bitcoin really a currency though? Do people actually use it to buy stuff anymore? Seems like it's more of a ponzi scheme or a volatile "asset".

By Vlatko Go To PostWhat do you need to know?

Everything

I'm actually sitting in a blockchain presentation at work right now.

meh, it'll be back

kind of scared I didn't catch the bottom though, I think the recovery begins now

By Smokey Go To PostEverything

put 1k+ across 50/25/25 split across BTC/ETH/XRP

don't look at anything for a year

profit

By Perfect Blue Go To Postlol, is Bitcoin really a currency though? Do people actually use it to buy stuff anymore? Seems like it's more of a ponzi scheme or a volatile "asset".

There are many places where you can make legitimate purchases with BTC.

Many.

By giririsss Go To PostThere are many places where you can make legitimate purchases with BTC.

Many.

Curious how many places that allow BTC transactions are just buying into the speculative bubble themselves????

By Fenderputty Go To PostCurious how many places that allow BTC transactions are just buying into the speculative bubble themselves????

Depends on the site.

Many allow you to pay in BTC, but the payment provider will settle the merchant in their preferred fiat currency (like USD or EUR).

Just like many will take payment in many different currencies, but for their own accounting will want to be settled in only one. So the payment provider will do an forex transaction in the background before settling.

why does Luke give Randle the license to run the break.
ffs.

By Kabro Go To Postwhy does Luke give Randle the license to run the break.
ffs.

Why are you talking bball in the crypto thread?

oops.

By giririsss Go To PostDepends on the site.

Many allow you to pay in BTC, but the payment provider will settle the merchant in their preferred fiat currency (like USD or EUR).

Just like many will take payment in many different currencies, but for their own accounting will want to be settled in only one. So the payment provider will do an forex transaction in the background before settling.

I was wondering this too. If they’re not actually settling in bitcoin why wouldn’t more people accept payment?

By Kabro Go To Postwhy does Luke give Randle the license to run the break.
ffs.

Makes more sense bitcoin prices lol

By Fenderputty Go To PostI was wondering this too. If they’re not actually settling in bitcoin why wouldn’t more people accept payment?

Not every payment provider will give you the option to accept BTC, because then they have to deal with it.

And upgrading your system to handle crypto is a lot of work. Particularly as some of them have an insane number of decimal places (i think etherreum has 18 or 32?). It's A LOT of work to upgrade your whole system to deal with that.

And then they have to deal with bitcoin trading themselves too.

Any Coinbase users here? Be careful, seems to be some shady shit going down:

A growing number of Coinbase customers are complaining that the cryptocurrency exchange withdrew unauthorized money out of their accounts. In some cases, this drained their linked bank accounts below zero, resulting in overdraft charges.

In a typical anecdote posted on Reddit, one user said they purchased Bitcoin, Ether, and Litecoin for a total of $300 on February 9th. A few days later, the transactions repeated five times for a total of $1,500, even though the user had not made any more purchases. That was enough to clear out this user’s bank account, they said, resulting in fees.

https://www.theverge.com/2018/2/15/17017374/coinbase-cryptocurrency-bitcoin-ether-unauthorized-charges

So uh, billions were wiped out today due to South Korea Conraip being hacked..

Still, the news sent shock waves through virtual currency markets. As well as bitcoin, prices for other commonly traded digital currencies like ethereum also plunged. Nearly $30 billion in cryptocurrency wealth was wiped in about seven hours of trading, according to data provider Coinmarketcap.com.

Ffs

http://money.cnn.com/2018/06/11/investing/coinrail-hack-bitcoin-exchange/index.html

By Smokey Go To PostSo uh, billions were wiped out today due to South Korea Conraip being hacked..

http://money.cnn.com/2018/06/11/investing/coinrail-hack-bitcoin-exchange/index.html

Yeah heard about that. Don't store your money on the exchange is the lesson (again). Use a personal hot / cold wallet.

On Thursday, the company announced that it would add a feature called Coinbase Bundle. The new offering lets users purchase a market-weighted sampling of Coinbase’s five available cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ethereum Classic. The idea is that a bundle of coins offers users a starter pack for cryptocurrency trading on the platform with stakes of their choosing. In reality, until Coinbase adds more coins, it’s not exactly a diversified portfolio so much as a slightly counterbalanced selection of Coinbase’s current limited offerings.

https://techcrunch.com/2018/09/27/coinbase-bundles-asset-pages/

It might be interesting.