Buying bitcoins

BorneTobyWilde · 10-12-2017 04:10AM

https://www.youtube.com/watch?v=Jj4nJ1YEAp4

10-12-2017 08:54AM

It'll be interesting what affect the trading of bitcoin futures has on the bitcoin price. Trading starts tonight afaik.

Shauny2010 · 10-12-2017 09:28AM

RoboKlopp wrote: »

It'll be interesting what affect the trading of bitcoin futures has on the bitcoin price. Trading starts tonight afaik.

I don't see much happening for the first month as it will be a wait and see how it works.
The one thing that the opening of the futures market does is open the door for Bitcoin ETFs in the future. If we get bitcoin ETFs then every investment fund/Pension fund on the planet will want to add a small percent to the portfolio. It would be an Atlantic Ocean of money heading into Bitcoin!

machiavellianme · 10-12-2017 11:06AM

A sea of red today. Everything seems to be down which is a tad odd considering the last few days.

Truckermal · 10-12-2017 11:18AM

I see Litecoin down a lot, would it be worth sticking a few bob in them?

EagererBeaver · 10-12-2017 11:20AM

Litecoin is up 40% in the last week.

Truckermal · 10-12-2017 11:26AM

EagererBeaver wrote: »

Litecoin is up 40% in the last week.

Down since yesterday though.

EagererBeaver · 10-12-2017 11:41AM

So, I imagine, are thousands of other stocks, commodities and equities across the world.

If your rationale for thinking you might want to buy some is "it fell yesterday" you'll get into trouble pretty quickly in crypto.

Elessar · 10-12-2017 12:48PM

Lots of reports of users struggling to get money out of Coinbase. Seems its easy to deposit money and buy crypto but if you want to withdraw to cash you're possibly gonna be stuck. Nothing from Coinbase on it and trying to get a response from support seems impossible. Similar reports from Bitfinex.

Anyone have any difficulties here recently? Localbitcoins.com seems like another solution but I don't know how legit it is...

JaCrispy · 10-12-2017 02:00PM

Elessar wrote: »

Lots of reports of users struggling to get money out of Coinbase. Seems its easy to deposit money and buy crypto but if you want to withdraw to cash you're possibly gonna be stuck. Nothing from Coinbase on it and trying to get a response from support seems impossible. Similar reports from Bitfinex.

Anyone have any difficulties here recently? Localbitcoins.com seems like another solution but I don't know how legit it is...

I cashed out on Litecoin yesterday morning. No problems transferring back my bank account. It actually saved the SEPA details used to deposit the money previously.

Zascar · 10-12-2017 02:01PM

Is Kraken any better at all?

grindle · 10-12-2017 02:17PM

Zascar wrote: »

Is Kraken any better at all?

God no. They're easy to deposit money into but every other aspect is like moonwalking up a mountain.

Kenny Logins · 10-12-2017 02:52PM

Zascar wrote: »

Is Kraken any better at all?

I've had no issues with Coinbase/GDAX but Kraken made me very nervous. It took ages to even get BTC out so I can't imagine Euros would be any easier.

sReq | uTeK · 10-12-2017 03:39PM

JaCrispy wrote: »

I cashed out on Litecoin yesterday morning. No problems transferring back my bank account. It actually saved the SEPA details used to deposit the money previously.

Yea same, no issues and was in my bank in 24 hours.

EagererBeaver · 10-12-2017 03:51PM

It's BTC people are having problems cashing out, not LTC.

Suggestion is that a lot of the recent LTC pump driven by people trying to cash out some of their BTC and exchanging to LTC to get the money out.

Shauny2010 · 10-12-2017 03:54PM

grindle wrote: »

God no. They're easy to deposit money into but every other aspect is like moonwalking up a mountain.

I think the complaints about Kraken's speed of withdrawals are not fair on them. They did ask all their users about 18 months ago now if they would prefer lower fees or faster transaction times. Lower fees was chosen by the nearly everyone so in peak times of activity on the network don`t be surprised if withdrawals can go over a day to show up in your wallet. they did warn about this and pointed it out.
From my experience though it usually appears within the hour.

grindle · 10-12-2017 04:29PM

Shauny2010 wrote: »

I think the complaints about Kraken's speed of withdrawals are not fair on them.

It's not just that - their trading engine crumbles at the mere sight of new customers. Constant tx failures and Cloudflare splashscreens.
Took me 15mins to switch from one coin to another a few days ago!

Hopefully the updated engine will be up to the task in future.

oleras · 11-12-2017 05:14AM

Up >20% on the day as of now.

hogan90 · 11-12-2017 10:11AM

EagererBeaver wrote: »

Litecoin is up 40% in the last week.

Bought Litecoin today, hoping it follows the same trend as Bitcoin. Wishful thinking!!

SkySter · 11-12-2017 11:28AM

grindle wrote: »

It's not just that - their trading engine crumbles at the mere sight of new customers. Constant tx failures and Cloudflare splashscreens.
Took me 15mins to switch from one coin to another a few days ago!

Hopefully the updated engine will be up to the task in future.

Totally agree that Kraken is awful, to the extent that I'm going to the trouble of getting a second photo ID so I can get on GDAX.

Tar.Aldarion · 11-12-2017 11:37AM

SkySter wrote: »

Totally agree that Kraken is awful, to the extent that I'm going to the trouble of getting a second photo ID so I can get on GDAX.

Considering the same, just wondering if they accept PSC or if I need to get a driving license haha.

Shane732 · 11-12-2017 01:57PM

Is there a beginners guide to Bitcoin available?

The One Doctor · 11-12-2017 02:04PM

Shane732 wrote: »

Is there a beginners guide to Bitcoin available?

Thousands. But this one is reasonable.

It really depends on what you want to do with your bitcoin or altcoin. Hold onto it and let it grow? Trade it regularly? Mine it? Its a fairly complex field and you'll learn lots. Most people simply hold, some buy repeatedly at the dips, others day trade (that's me).

It can be very profitable, but it's NOTHING like traditional investments. Prices can move 20% up or down in a few hours.

Speaking personally, I just got out of Bitcoin today. I'll go back in if the price drops hard again, but I'm moving to something that has a bit more volatility. Bitcoin is brilliant but it's also stressful.

jester77 · 11-12-2017 02:30PM

The One Doctor wrote: »

Thousands. But this one is reasonable.

It really depends on what you want to do with your bitcoin or altcoin. Hold onto it and let it grow? Trade it regularly? Mine it? Its a fairly complex field and you'll learn lots. Most people simply hold, some buy repeatedly at the dips, others day trade (that's me).

It can be very profitable, but it's NOTHING like traditional investments. Prices can move 20% up or down in a few hours.

Speaking personally, I just got out of Bitcoin today. I'll go back in if the price drops hard again, but I'm moving to something that has a bit more volatility. Bitcoin is brilliant but it's also stressful.

I want to hear more :eek:

makeorbrake · 11-12-2017 02:42PM

jester77 wrote: »

I want to hear more :eek:

The Bellagio in Vegas.

The One Doctor · 11-12-2017 02:50PM

jester77 wrote: »

I want to hear more :eek:

Volatility is relative. There are coin pairs that can jump/fall 15% in 90 minutes. One coin is worth €30, but the 15% gain is huge over 90 minutes. If you have €2000 worth of the coin, 15% is €300.

Note: this is NOT a HODLing strategy - quite the opposite.

blindside88 · 11-12-2017 02:52PM

I finally pulled the trigger and bought a bit of bitcoin, lite coin and ethereum. I've downloaded a wallet "breadwallet" and transferred a small amount over. Just a quick question, do most people recommend transferring everything to the wallet (I don't plan on day trading) or keeping some on coinbase also

cnocbui · 11-12-2017 03:41PM

https://www.cnbc.com/2017/12/10/tell-us-what-you-think-how-will-the-launch-of-bitcoin-futures-trading-affect-the-cryptocurrency.html

CNBC poll on Bitcoin Futures. "It's going to $100,000" is currently way ahead at 48% of the vote

Even with Jamie Dimon ordering every employee at JP Morgan to vote for the bubble is about to burst option, it still only manages 31%

dinneenp · 11-12-2017 05:05PM

Shane732 wrote: »

Is there a beginners guide to Bitcoin available?

Buy.
Sell before the bubble bursts.
Retire.

will56 · 11-12-2017 05:06PM

dinneenp wrote: »

Buy.
Sell before the bubble bursts.
Retire.

You missed one step

Travel back in time to when Bitcoin was dirt cheap, buy/mine a load and HODL.

:D

Buying bitcoins

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