Wow. Bitcoin is almost $1,500

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momeNt

Diamond Member
Jan 26, 2011
9,299
349
126
LOL I don't even know if I have the stomach for this



also, evidently, if you get off the page to confirm the 2 factor code when they text you, you're fucked.
It all worked well for me.

I now own 24.975 VEN, total time, minus the time i couldn't create the binance account was only 20 minutes.
 

ImpulsE69

Lifer
Jan 8, 2010
14,794
824
126
It all worked well for me.

I now own 24.975 VEN, total time, minus the time i couldn't create the binance account was only 20 minutes.
How? I've been unable to get verified anywhere to actually do anything and I've had accounts on Coinbase, GDAX and Binance for weeks. I gave up trying...I don't particularly trust these offshore 'exchanges' with no oversight with all my personal data and my money. It's a fools game people are playing. These things are the equivalent of someone setting up some servers in their basement and saying "trust me".

Well I see that Binance just changed some things and can do SMS outside of China now. There's that...but still seems sketchy af.

I also looked into adding a bank account on Coinbase..and WTF? Why does ANYONE trust this? You click it, and it just asks you for your login/pw to your bank account? WTF is that? Nope...I'll miss this train. What am I missing here because I can't imagine anyone with a brain about technology would just be like "sure...this looks fine".
 
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Zeze

Lifer
Mar 4, 2011
10,180
446
126
How? I've been unable to get verified anywhere to actually do anything and I've had accounts on Coinbase, GDAX and Binance for weeks. I gave up trying...I don't particularly trust these offshore 'exchanges' with no oversight with all my personal data and my money. It's a fools game people are playing. These things are the equivalent of someone setting up some servers in their basement and saying "trust me".

Well I see that Binance just changed some things and can do SMS outside of China now. There's that...but still seems sketchy af.

I also looked into adding a bank account on Coinbase..and WTF? Why does ANYONE trust this? You click it, and it just asks you for your login/pw to your bank account? WTF is that? Nope...I'll miss this train. What am I missing here because I can't imagine anyone with a brain about technology would just be like "sure...this looks fine".
It's great to be cautious.

Coinbase is US' biggest fiat-to-bitcoin exchange. You can take that as a bit of a comfort. It is garbage though.

You can also use Gemini.com instead. This is exchange by Winklevoss twins (the facebook guys).
 

destrekor

Lifer
Nov 18, 2005
28,715
327
126
Best explaination I've seen of what is happening so far in crypto land:

https://amp.reddit.com/r/BitcoinMarkets/comments/7nzlwh/bitcoin_manipulation_theory

I've noticed these same *massive* buy walls as this guy is talking about in all the sh!tcoins being pumped, just saw one earlier in Siacoin which prompted my earlier post (and surprise 100%+ profit, and counting, in under 2 minutes :)). This way institutional investors can buy Bitcoin inventory slowly without skyrocketing their own buy in price and keep Bitcoin price relatively stable as there is no money draining from Bitcoin like it really should be at first glance. With all the money seemingly going into alts Bitcoin should've tanked to $7,500 or less instead of consolidating between 13K & 15K.

This would fit wallstreet type trading perfectly.
Yup.

It's amazing how couple days can result in thousands of dollars of lost opportunity cost.

-I bought VET at $1.20 ONLY a week ago.
-I wanted to buy more that night but sending money takes 8 days to verify.
-In the meanwhile VET went up to $4 right now

OMG. If I had used wire transfer instead of ACH, I would've had the money few days ago to buy more VET.

I STILL don't have funding arrived. Literally losing money by tens of thousands.
Don't sweat missed and/or loss of unrealized gains, just take the punches and seek the next investments. You're constantly missing huge swings in hundreds of other cryptos.
Day trading is inherently risky, and prone to becoming a gambling addiction. And wild price swings in any asset often bring a correction/retrace, and besides the small ones, while a big one may never come, it may also be devastating and immediate. Sometimes they never recover, not in any trading time frame, but also sometimes they go up a massive ways without ever looking back, forming a new level. Those are super rare though, and while seemingly more common in cryptos, those that crash often do so painfully.

classic bubble syndrome
Nah, that aspect is just pure manipulated trading. Wild swings are rife in the lower-priced stocks, specifically the vast majority of penny stocks. A little hype, and some big whales moving a lot purposefully with one direction in mind, often using social media to manipulate minds as well as the market. Get people hyped up, tell them it's the next big thing, and that big things are happening soon!™ Then the whales move in and put up huge trade walls that encourage or stall price movement, depending on goals.

It's not bubble syndrome, just the nature of sailing in murkier seas. I've made and lost significant money through the stock market, and now likewise in the crypto market. Except so far I'm overall very up right now, those too are still unrealized gains.

I say for anyone interested in trading cryptos more accurately, go study stock trading. Do so in depth if you wish to see -- and keep -- gains. You can get lucky (I did, early on in my trading) and that can bait you when others don't behave quite the same way. I remember in college I traded the banking disaster (from the bottom, basically) and at one point had an unrealized $8000 gain, but ended up only actually realizing half that. And others I've held on for too long in the red and never see them come back up.

But ultimately, something similar was said earlier, but here's Warren Buffett's take: "The stock market is a device for transferring money from the impatient to the patient"

When you aren't super wealthy, and dream of riches, you are more likely to play the go big or go home game, and bet on the wild rides. Some get lucky, the vast majority do not, not in the long run. As you acquire wealth, you first are probably doing it via some patience, but you are probably more so not making such big individual bets. You are more conservative in your gambles, at least when it comes to your total net worth compared to the size of your trades.
 

Yakk

Golden Member
May 28, 2016
1,574
272
81
Looks like Bitcoin woke up, a few weeks before expectations, but certainly no complaints. I guess it had to be getting expensive to keep that 15K ceiling price in place, even with the sh!tcoin financing strategy.

Looks like institutional money is slowly moving out of XRP & such (that massive dip, announcement conbase will not be listing xrp, all just before BTC price movement.... coincidence? ;)) and is probably being replaced by FOMO small investors.... :(
 

Yakk

Golden Member
May 28, 2016
1,574
272
81
Wow U.S. lagging behind in some areas of crypto. In most countries, including Canada it is super simple, fast, and secure to purchase Bitcoin at many sites like Mybtc.ca

Literally takes under 5 minutes in a pinch.
 

Zeze

Lifer
Mar 4, 2011
10,180
446
126
Looks like Bitcoin woke up, a few weeks before expectations, but certainly no complaints. I guess it had to be getting expensive to keep that 15K ceiling price in place, even with the sh!tcoin financing strategy.

Looks like institutional money is slowly moving out of XRP & such (that massive dip, announcement conbase will not be listing xrp, all just before BTC price movement.... coincidence? ;)) and is probably being replaced by FOMO small investors.... :(
Not sure if 10% drop of XRP after 90% rise since Jan 1st is 'an institutional money moving out of XRP'.

It needed a correction after such a crazy run.

I don't day trade. XRP and VET are looking to have a great 2018.

(As always, what do I know)
 

Yakk

Golden Member
May 28, 2016
1,574
272
81
Not sure if 10% drop of XRP after 90% rise since Jan 1st is 'an institutional money moving out of XRP'.

It needed a correction after such a crazy run.

I don't day trade. XRP and VET are looking to have a great 2018.

(As always, what do I know)
Could absolutely be a correction, those could all be coincidences, just hard to ignore.

As for day trading... you kinda made me realize it's also a matter of perspective. Some people are looking to increase their fiat accounts straight up (like ATOT), others are looking to increase their CC accounts (by extension their fiat also, but with a different mindset). The 2 sometimes coincide, sometimes not.
 

interchange

Diamond Member
Oct 10, 1999
6,909
1,716
136
But ultimately, something similar was said earlier, but here's Warren Buffett's take: "The stock market is a device for transferring money from the impatient to the patient"
Very true. Just buy and hold. The fluctuations are a bit like a slot machine. Unpredictable big scores with lots of noise in between. Big scores frequent enough that you don't lose interest waiting for the jackpot to come. It's called an intermittent reinforcement schedule and it's hard-wired to be the thing that addicts us.

Except, you lose money at slots so you should just not play them. You gain money at BTC (unless it crashes completely). You even gain money at BTC playing it like the slots. But you'd be a lot better off letting the impatient do that so that it builds up interest in the trading and you holding on to what you got and cashing out in the end.
 

purbeast0

Lifer
Sep 13, 2001
49,376
2,347
126
Is binance.com the legit binance site? I know there are links to fake ones out there.

I signed up to bitstamp like December 8th or so to buy some XRP when it was like 69 cents but they still haven't verified my account. I think just transferring some of my BTC via Binance for XRP is probably the best way now.
 

Zeze

Lifer
Mar 4, 2011
10,180
446
126
Is binance.com the legit binance site? I know there are links to fake ones out there.

I signed up to bitstamp like December 8th or so to buy some XRP when it was like 69 cents but they still haven't verified my account. I think just transferring some of my BTC via Binance for XRP is probably the best way now.
https://www.binance.com
 

zinfamous

No Lifer
Jul 12, 2006
101,250
15,413
136
LMAO! That site is fucked too!
Remember when Joe Kennedy said (c. September-October '29) that he knew the market was in trouble when he started getting stock tips from the shoe shine kid?
 
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Zeze

Lifer
Mar 4, 2011
10,180
446
126
Thank god VeChain is dropping. It was getting ridiculous.

I was getting mad because Coinbase takes 8 days to complete fiat-to-bitcoin transaction. 8 days is an eternity in crypto. I bought ETH and they are STILL locked until tomorrow... in the meanwhile VET was skyrocketing.

Hopefully VET dip reaches its valley just in time tomorrow for me to buy in low.
 

destrekor

Lifer
Nov 18, 2005
28,715
327
126
Thank god VeChain is dropping. It was getting ridiculous.

I was getting mad because Coinbase takes 8 days to complete fiat-to-bitcoin transaction. 8 days is an eternity in crypto. I bought ETH and they are STILL locked until tomorrow... in the meanwhile VET was skyrocketing.

Hopefully VET dip reaches its valley just in time tomorrow for me to buy in low.
Have you tried ETH at Coinbase? BTC has been hit hard there, processing times are ridiculous.

Or is that how long it takes them to process an ACH? Take a look a Gemini, ACH there is far faster, as it should be. Whenever I need to go between USD and BTC, I tend to be doing it at Gemini. All my trading happens elsewhere, if I want to withdraw actual cash I exchange whatever I have to BTC then transfer from one exchange or another to Gemini.
 

momeNt

Diamond Member
Jan 26, 2011
9,299
349
126
Have you tried ETH at Coinbase? BTC has been hit hard there, processing times are ridiculous.

Or is that how long it takes them to process an ACH? Take a look a Gemini, ACH there is far faster, as it should be. Whenever I need to go between USD and BTC, I tend to be doing it at Gemini. All my trading happens elsewhere, if I want to withdraw actual cash I exchange whatever I have to BTC then transfer from one exchange or another to Gemini.
ETH at coinbase is getting destroyed as bad as BTC. https://status.coinbase.com/ - they are saying 12+ hours on BTC and ETH.

What he is referring to is ACH clearing. Incoming wires are at 2 days. Credit cards instantly but you get hit with higher fees.
 

ponyo

Lifer
Feb 14, 2002
17,483
1,451
126
ok. I think it's finally time I joined this party. If I want to buy about $25k in Bitcoin and Ethereum, what are my best options? Coinbase and Gemini? Or should I set up an account at GDAX?
 

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