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Buying bitcoins

brendan86

Heh guys,

I've been doing a bit of research the last week into buying bitcoins.. I want to buy 1k worth, I know it's risky but I have it to spare and might just see how it goes for a year or so..

I have currently registered on mtgox.com and am awaiting approval on my Id verification.. Has anyone dealt with this site have any info for me?

If I put my money on mtgox that means I have to trust them with my bitcoins is this correct? I won't have to have a wallet on my computer?

I'm just basically asking for advice, it's what I want to do but if someone can explain the best way about it that knows more than me I would appreciate it

Thanks

Brendan

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cnocbui

Thanks for the advice, however I am aware of general investment principles and do apply them.

Nonetheless, Bitcoin still represents by far, the best return on investment in my portfolio.

Your money in the bank is safe (If you believe politician's promises, and it isn't 'insured'), if you consider a negative return and on-going capital depreciation 'safe' Inflation may be low, but it's not as low as bank interest less DIRT.

Dohnjoe

Another bit of caution for anyone is to double check when sending a big amount anywhere - apparently there is malware that can detect a copy/paste of a crypto wallet address and "replaces" it with another address when pasted

I do this as standard now with any bigger amounts

lawred2

Dohnjoe wrote: »

Another bit of caution for anyone is to double check when sending a big amount anywhere - apparently there is malware that can detect a copy/paste of a crypto wallet address and "replaces" it with another address when pasted

I do this as standard now with any bigger amounts

thanks for heads up

b@stards

boardie100

interesting article this on etereum....
kinda backs up my thinking a little....

https://medium.com/@WhalePanda/i-was-wrong-about-ethereum-804c9a906d36

cnocbui

Dohnjoe wrote: »

Another bit of caution for anyone is to double check when sending a big amount anywhere - apparently there is malware that can detect a copy/paste of a crypto wallet address and "replaces" it with another address when pasted

I do this as standard now with any bigger amounts

Even before this, I have always had the habit of double checking the last several characters when copy/pasting crypto addresses and IBAN numbers.

WhiteMemento9

If someone wanted to short ETH. Anyway of doing this?

cnocbui

boardie100 wrote: »

interesting article this on etereum....
kinda backs up my thinking a little....

https://medium.com/@WhalePanda/i-was-wrong-about-ethereum-804c9a906d36

Very good article: Now I would say that since it echoes exactly some things I have pointed out, such as 'useful features' of crypto's not actually being used in the real world, leaving speculative investment as being the only real driver of 'value', and real-world examples and players not using Etherium and just cloning it for private use, essentially for free.

cnocbui

WhiteMemento9 wrote: »

If someone wanted to short ETH. Anyway of doing this?

Yes. There are exchanges where people can 'lend' their cryptos to people for a fee.

boardie100

WhiteMemento9 wrote: »

If someone wanted to short ETH. Anyway of doing this?

not sure... i wouldnt have the balls to short it yet... its like a runaway train at the top of a steep hill

SteelyDanJalapeno

Bancor ICO having a mare of a time on launch

Massive ddos/network attacks

Seems now they have involuntary broken their own Terms and conditions of the sale now because of this, surpassing their 250k ether cap to 350k. Hopefully nobody gets fuccked

lawred2

TiltedBrain wrote: »

Bancor ICO having a mare of a time on launch

Massive ddos/network attacks

Seems now they have involuntary broken their own Terms and conditions of the sale now because of this, surpassing their 250k ether cap to 350k. Hopefully nobody gets fuccked

That might take some of the lustre of these ICOs

machiavellianme

coinbase down for anyone else?

SteelyDanJalapeno

yep

Supercell

boardie100 wrote: »

not sure... i wouldnt have the balls to short it yet... its like a runaway train at the top of a steep hill

Looks to have peaked now, lots of profit taking. Am expecting a few days of hovering 0.12 BTC level followed by another mad rally, rinse repeat, collapse..when the collapse is anyone's guess, I think there's plenty of legs in ETH yet.

lawred2

Off a cliff in the last hour

KilOit

Big crash was needed in fairness

Dohnjoe

Yeah market diving v hard now

I left fiat on coinbase for this type of moment, to buy up cheap alts, but that's down too

Thargor

Dohnjoe wrote: »

Yeah market diving v hard now

I left fiat on coinbase for this type of moment, to buy up cheap alts, but that's down too

Coinbase only sells BTC, ETH and LTC though?

Dohnjoe

Thargor wrote: »

Coinbase only sells BTC, ETH and LTC though?

I use to fiat on balance to buy BTC at Coinbase (am lazy), send the BTC to Poloniex or Bittrex.. wait 10 agonising minutes for it to arrive.. then try to elbow my way in and scavenge some bargains

SteelyDanJalapeno

Bit of a price correction going on, theres been a massive dump in the past hour

SteelyDanJalapeno

I'd like to get some more Eth during this dip but coinbase have timed their shiitshow very well.

Supercell

ETH bouncing back, the buy wall is massive still, there will be retrenchments, but I can't see any crash just yet. Time to take profits from the last few days rally imho and wait for the next bull run.

machiavellianme

TiltedBrain wrote: »

I'd like to get some more Eth during this dip but coinbase have timed their shiitshow very well.

Couldnt sell as the cliff started, cant buy at the valley. Disaster.
Going to look elsewhere after this.

jester77

Got some at 320 before everything went down... ah well, it will fall much harder in the not too distant future.

150 million for Bancor, ridiculous

Supercell

Ripple and Stratis next whilst ETH takes a breather..IMHO STRAT looks cheap though XRP has being trying to break out last few days, worth keeping a close watch on, the ETH profit takers will invest in something else as always.

Aspiring

Anyone here use the Coinbase API? Does it work when the website says it's unavailable at times like this? I know the Kraken API continues to work even when Kraken is unavailable so I was just wondering. Could be worth writing a small piece of software to buy at times like this. It's quite annoying not being able to buy when you want to.

jester77

Aspiring wrote: »

Anyone here use the Coinbase API? Does it work when the website says it's unavailable at times like this? I know the Kraken API continues to work even when Kraken is unavailable so I was just wondering. Could be worth writing a small piece of software to buy at times like this. It's quite annoying not being able to buy when you want to.

Mobile is working, so you can buy and sell there while the site is down

seanino

Hi everyone,
Ive been procrastinating about buying some bitcoins/ethereum. Had bitcoins ages ago but the sites etc have changed a good bit since.
is coinbase the best place to buy ethereum and bitcoin? Coinbase is now down. I can buy bitcoin on blockchain either but might hold off now as its dropped a bit. Just wondering if you had a decent amount in your wallet and you want to get rid quick. How do you do it? The whole buying and selling seems very slow when you would want it to be quick!?
I see kracken mentioned also but its 7% fee!

Do most people use credit cards or sepa, do the payments look dodgy on the bank statement?
Cheers,
seanino

discombobulate

jester77 wrote: »

Mobile is working, so you can buy and sell there while the site is down

Can see here whats up and down although mobile not working for me. I reckon they knock it down themselves and then allow people with larger balances to access through mobile as you need to be authenticated

discombobulate

seanino wrote: »

Hi everyone,
Ive been procrastinating about buying some bitcoins/ethereum. Had bitcoins ages ago but the sites etc have changed a good bit since.
is coinbase the best place to buy ethereum and bitcoin? Coinbase is now down. I can buy bitcoin on blockchain either but might hold off now as its dropped a bit. Just wondering if you had a decent amount in your wallet and you want to get rid quick. How do you do it? The whole buying and selling seems very slow when you would want it to be quick!?
I see kracken mentioned also but its 7% fee!

Do most people use credit cards or sepa, do the payments look dodgy on the bank statement?
Cheers,
seanino

There's a 4 percent levy on card deposits on coinbase so i'd go with SEPA. Usually arrives in account the next day. I bought my originals on Coinbase and now have them spread between there, Kraken and Poloniex. eToro is another trading platform option. Your not dealing in actual coins though there.