Buying bitcoins

jester77 wrote: »

yip, check out this order :eek:

https://api.gdax.com/products/eth-usd/trades?after=6326580&limit=1

current worth approx 2,160,991.547859

Valuable lesson learnt to always set a price on trades. But God damn I wouldn't have minded getting some of those 10c ETH and be a big fat ETH millionaire this morning

safetyboy wrote: »

10c jaysus, did it go that low on all exchanges or just GDAX?

GDAX by the looks of it

Stan27 wrote: »

hi everyone.
Looking at investing a couple hundred euro I have spare to LTC, happy to leave for a couple of years.

Any advice?

I have a coinbase account.

What advice do you want? You've made your decision and never the infrastructure set up to make the investment. Just go and do it.

Stan27 wrote:

hi everyone. Looking at investing a couple hundred euro I have spare to LTC, happy to leave for a couple of years.
Any advice?
I have a coinbase account.

I would personally suggest spreading the investments into the 3 offerings on coinbase or at least split between LTC and one of the other two as BTC and ETH have been quite price-linked.

If you are happy to leave for a few years. I'd recommend giving yourself a set time line and stick to it. As in, don't sell at the first sign of profit/crash a year on. Hold out for at least 3 years and then re-evaluate.

In terms of the exchange, while coinbase.com has had some bad press regarding their tendency to shut down when there's drastic spikes in trade volumes for the duration, in terms of safety it is one of the best with its offline based cold storage and high insured guarantees. As always, cold wallets are safest bet for long term storage but it is a little bit of hassle.

Good luck!

iguot edgar wrote: »

Created by greedy kings to get fatter with crumbs for the pawns, that's all all this is.

coinidol. com/suspicion-of-insider-trading-at-poloniex/

Dohnjoe wrote: »

It's crypto-currencies. Insider trading is rife.

In the gold rush, wasn't it the lads selling the shovels that made the moo-lah?



i don't see crypto's as a 'gold rush' - but obviously there's a sizeable proportion that have a purely speculative interest in it

wonk wrote: »

any advise on the best place to buy etc using EUR? kraken taking forever to verify my account. Thanks

If you wish to buy Bitcoin, Etherium or Litecoin, Belgacoin.com is pretty good with no account verification hassles, apart from needing to do a small trade first to verify bank details. Not great for accurately timing purchases due to the SEPA processing chain time-line, so not for day-trading, but otherwise very good.

nuac wrote: »

Including Trumpf, grandfather of US President.

He provided various services to the miners

If his grandson is anything to go by, I'm guessing he ran a brothel.

wonk wrote: »

any advise on the best place to buy etc using EUR? kraken taking forever to verify my account. Thanks

Make sure you know the difference between ETC and ETH first of all.

pro_gnostic_8 wrote: »

Localbitcoins does not support ETH buying/selling on their platform as far as I know?

However, an ETH-specific marketplace is due to go live in the near future. The sooner the better. This catfarting around of converting ETH into BTC to sell is a pain. https://localethereum.com/

Bitstamp is promising to introduce ETH to Dollar and Euro pairing later next month.

Well catfarting is a fact of life if you want cash to dodge the man.

cnocbui wrote: »

Well catfarting is a fact of life if you want cash to dodge the man.

Yes, but you can't get cash for your ETH on localbitcoins.

pro_gnostic_8 wrote: »

This was the first major test for ETH and the ETH blockchain. And ETH was and its blockchain was found wanting. 300,000 tx's were signalled to the network yesterday,and the system buckled under the load. There is a scaling problem here, fella's, a major one. And worse to come. Raiden is a fair bit off in implementation yet.
Bitcoin does well over 300,000 tx's daily, and now it will have Segwit, by the look of things, by August 1st.

I have a better understanding of bitcoin (albeit still acres to learn). Only scratching the surface in terms of ETH (or any other coin).

However, some of these newer contenders have not necessarily faced the same problems as BTC yet. BTC has been out there weathering the storm(s) - whereas others have yet to be fully tested under adverse conditions (and potentially adverse conditions that come about due to as yet unrecognised shortcomings), increased loadings, etc.

Just saying...

I would easily expect Eth to be worth at least 500 before Xmas and several thousand in a few years, if not sooner

BTC has been through worse, had a 2 year bear market. Not to mention just about every problem a crypto can have. Keeps getting bigger.

I thought Ethereum has no supply limit, i.e. they can just keep essentially printing money? I'm wondering how the value can continue to rise with no major correction....350x in the last 18 months. Once Ethereum matures and withstands the issues which are sure to come along due to its larger attack surface I'd be more confident I think. Not to mention the current ICO frenzy and scaling issues of it's own. Also, what happens when/if they move to Proof of Stake?

In my opinion there's no comparing it to Bitcoin which has lasted over 8 years of constant attack and is the most mature and secure cryptocurrency on the planet. But maybe that's just me being biased towards what I know.

Anyone who tells you with certainty what the price will be is lying as nobody knows!

seklly wrote: »

I thought Ethereum has no supply limit, i.e. they can just keep essentially printing money? I'm wondering how the value can continue to rise with no major correction....350x in the last 18 months. Once Ethereum matures and withstands the issues which are sure to come along due to its larger attack surface I'd be more confident I think. Not to mention the current ICO frenzy and scaling issues of it's own. Also, what happens when/if they move to Proof of Stake?

In my opinion there's no comparing it to Bitcoin which has lasted over 8 years of constant attack and is the most mature and secure cryptocurrency on the planet. But maybe that's just me being biased towards what I know.

Anyone who tells you with certainty what the price will be is lying as nobody knows!

same goes for every commodity, share, equity, fund, currency etc etc etc

When one considers the growing pains that ETH will have to go through (which you've listed as BTC having gone through) is it not remarkable then that the ETH market cap is not far off eclipsing the BTC market cap?

wrt 'keeping essentially printing money' - this is a good read https://blog.ethereum.org/2014/04/10/the-issuance-model-in-ethereum/

not 100% sure of his numbers but there's this

There is no maximum. 60,102,216 ethers were created during the sale, plus 2x pools of 9.9% each. 26% of 60,102,216 will be created through mining every year. This means that 15,626,576 will be created every year on top of the 60m and the two pools.

After a while, 15,626,576 ether won't represent much of the total ether available, making the system dis-inflationary (i.e., inflation perpetually trending towards 0 but never reaching it).

MentalMario wrote: »

Jaysus. http://www.cnbc.com/2017/06/22/ethereum-price-crash-10-cents-gdax-exchange-after-multimillion-dollar-trade.html

yeah - was mentioned a few pages back

a few winners but many losers

jester77 wrote: »

There are a lot of serious fools out there who don't understand what they are doing. Was reading some of their stories on other forums. I don't think they get what margin trading is and I don't why they were doing it in the first place. I thought that you needed a few million to be even eligible to margin trade.

Some of the stories are a bit laughable, one student lost his whole loan that he had invested in it, another lad had all his honeymoon money in it and was supposed to pay for the honeymoon next week. Wouldn't like to be trying to explain that one to the fianceek:

I just happened to catch a couple of posts on Reddit about one person in the US who had inherited a few million from his Uncle and had proceeded to day trade it away. Last I saw was someone referencing a post by the genius of him being down to his last 150K and using it to short Apple. Of course Apple then shot up several percent.

He should have pondered a while why 85% of share trades are by bots and who all those bots must be making money from if you assume they aren't making it off each other, or Buffett. Would just take a look in the mirror to see the answer.

"A fool and his money are soon parted."

cnocbui wrote: »

I just happened to catch a couple of posts on Reddit about one person in the US who had inherited a few million from his Uncle and had proceeded to day trade it away. Last I saw was someone referencing a post by the genius of him being down to his last 150K and using it to short Apple. Of course Apple then shot up several percent.

He should have pondered a while why 85% of share trades are by bots and who all those bots must be making money from if you assume they aren't making it off each other, or Buffett. Would just take a look in the mirror to see the answer.

"A fool and his money are soon parted."

I'll never understand why people with millions invest in anything risky. You always see stories of footballers or film stars losing millions in investments.

Anyway Antshares (the ETH of China) rebranded as Neo last night. Still time to buy in before this takes off. Don't confuse it with neo-coins.

They are just under $7 now. Going to take €200 and buy a chunk of them.

PrzemoF wrote: »

I guess there is nothing to stop the fall down caused by "stop loss orders", like "buy if the price go below X" with some deposited funds to support that?

well that's most likely what happened with those lads who picked up thousands of ETH @ 10c...

auto buys @ 10c with either BTC or FIAT

It's maybe even possible those orders could have been set a long time ago and forgotten about.. Unlikely though. That drop smacks of manipulation.

BelovedAunt wrote: »

Thanks for that, is there any specific place that's best to buy them?

was going to ask the same. Doesn't seem to be on Kraken or Polo.

PrzemoF wrote: »

I guess there is nothing to stop the fall down caused by "stop loss orders", like "buy if the price go below X" with some deposited funds to support that?

The issue was that sell orders far outnumbered buy orders. So the sell orders kept dropping trying to out do each other to snap up the buy orders and get out before they lost more money.

The backlog in orders prevented new buys coming in and the stop loss orders just kept going down.

BelovedAunt wrote: »

Thanks for that, is there any specific place that's best to buy them?

Personally bought them on Bittrex, seems like a good solid exchange