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Bitcoin-Explain to me how to buy these things (5 Viewers)

chet said:
What do you use for an Eth wallet?  Where do you trade?  I used btc-e years ago but don't necessarily feel they are the safest or most secure.

Also, can you explain Ethereum?  Thx
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Usually once I get up to about $1k or so I'll transfer everything to my hardware wallet.  I like the Ledger nano s because it can store both btc and eth, but there's several different options out there.  I do all my trading at Coinbase.

I don't know much about ethereum, other than smart bitcoin people endorse it and it's built to scale into the future.  Here's some good articles if you wanna read up on it: https://cointelegraph.com/search?query=Ethereum+

 
lumpy19 said:
I gave up trying to convert my BTC to ether, if anyone does convert please post the experience. Glad it's so difficult because I wanted to get in at 170 and now it's 200  :wall:
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www.btc-e.com has lots of crosses but as I said above, it's a Russian site and there's not a lot of recourse if something goes wrong.  I traded there in 2013 but haven't since.

 
I just sent one bitcoin to btc-e to trade btc/eth.  Good opportunity to buy ETH @0.0771 and sell @0.081

 
Binky The Doormat said:
Where the hell can you trade this stuff and get a decent market price?  
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What do you mean by a decent market price?  It's trading close to $2500 now.  If you think you'll find somewhere to buy bitcoin for markedly less than the market price, keep dreaming.  If you mean a low bid/ask spread, check out www.btc-e.com

 
chet said:
What do you mean by a decent market price?  It's trading close to $2500 now.  If you think you'll find somewhere to buy bitcoin for markedly less than the market price, keep dreaming.  If you mean a low bid/ask spread, check out www.btc-e.com
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Yes, the later.  And is there any way to avoid dicey sites ...like the russian one?

 
Binky The Doormat said:
Yes, the later.  And is there any way to avoid dicey sites ...like the russian one?
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Just move it out quickly. Crypto proponents love to talk about how inexpensive they are but the fact is that it's expensive to trade, move $ around etc. 

I'm not going to vouch for BTC-e other than to say they've been around for a long time and tons of people use them. I transferred one bitcoin there today and bought some ETH at ~0.0745.

 
With seemingly increased support from major US banks supporting ETH, is it logical to think that bitcoin will still flourish b/c people just don't want to be tracked? 

 
I need to start thinking about how I'm going to actually sell these things.  Just put them in an exchange like Coinbase and sell them immediately?  What's the safest way to go about it?  What do?  

 
Ren Ho3k said:
I need to start thinking about how I'm going to actually sell these things.  Just put them in an exchange like Coinbase and sell them immediately?  What's the safest way to go about it?  What do?  
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depending on what price you decide to sell at i'm sure someone on here would buy from you.

 
Ren Ho3k said:
Lol I wish.  I meant at $2,700 per btc.  I have 2.7btc I'm looking to sell soon 
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Why not just use coinbase or whatever to sell and deposit to your bank?  Done it several times with gambling winnings and it's a piece of cake.  I think the fee is 1.5% but I could be wrong 

 
Dan Lambskin said:
Why not just use coinbase or whatever to sell and deposit to your bank?  Done it several times with gambling winnings and it's a piece of cake.  I think the fee is 1.5% but I could be wrong 
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yes you should use coinbase, probably need to wait as it's no longer 2700

 
Dan Lambskin said:
Why not just use coinbase or whatever to sell and deposit to your bank?  Done it several times with gambling winnings and it's a piece of cake.  I think the fee is 1.5% but I could be wrong 
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If only I had left the $500 I won on Derby day in my coinbase account....would be closer to a grand now.

Never done any kind of investing on my own before, was going to buy a coin last year at around $600, was always too skittish as I heard how "volatile" BTC was. Lesson learned I guess.

Pretty interesting to follow this stuff though, people aren't joking when they say it's legal gambling.

 
Skoo said:
If only I had left the $500 I won on Derby day in my coinbase account....would be closer to a grand now.

Never done any kind of investing on my own before, was going to buy a coin last year at around $600, was always too skittish as I heard how "volatile" BTC was. Lesson learned I guess.

Pretty interesting to follow this stuff though, people aren't joking when they say it's legal gambling.
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Yeah I was just using it to fund sportsbooks and cash out.  Unfortunately never left any significant $ in there and it basically skyrocketed since my last withdrawal :kicksrock:

 
Dan Lambskin said:
Why not just use coinbase or whatever to sell and deposit to your bank?  Done it several times with gambling winnings and it's a piece of cake.  I think the fee is 1.5% but I could be wrong 
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I'm being ridiculous.  I'm afraid that transferring btc back to coinbase opens me up to an Mt Gox situation.  Also the 7-day wait period leaves the price quite open to fluctuation.  edit: plus fees

 
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Ren Ho3k said:
I'm being ridiculous.  I'm afraid that transferring btc back to coinbase opens me up to an Mt Gox situation.  Also the 7-day wait period leaves the price quite open to fluctuation.  edit: plus fees
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There is some risk in fluctuation when transfer from wallet to exchange but I'm pretty sure you're locked in at the rate you sell at when transfer from exchange to bank 

Also not sure where you get 7 days from?

 
yeah, with coin base withdrawal to bank account it locks the rate when you initiate the transfer.  The fluctuations between when you initiate the transfer and when it hits your bank account don't matter.

It takes a few days to hit your bank account.  The fees really aren't too bad for withdrawals, i think 1.5%.

 
I've traded the BTC/ETH pair for the last day or so.  Buying ETH around 0.073 and selling around 0.076.  Low volatility approach.  I transferred over 2 BTCs and have about 2.1 now.  Nothing huge but better than nothing.  If anyone wants more info or insight, I am happy to share.

 
I've always traded alt coins on Bittrex and Poloniex. 

Right now I've got BTC, ETH, DASH and GNT. I wouldn't be surprised to see Ethereum pass bitcoin for market cap. Right now it's just over $19b while bitcoin is at $37b. 

With the recent surge in prices I've been looking at getting a hardware wallet like Trezor. 

 
CR69 said:
I've always traded alt coins on Bittrex and Poloniex. 

Right now I've got BTC, ETH, DASH and GNT. I wouldn't be surprised to see Ethereum pass bitcoin for market cap. Right now it's just over $19b while bitcoin is at $37b. 

With the recent surge in prices I've been looking at getting a hardware wallet like Trezor. 
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I'm a total noob to this so forgive me if I'm way off here, but I was reading about Poloniex this weekend and a lot of people think it's going to crash similar to the MtGox situation.

Again, I could be way off, just thought if you're worried about security you may want to look into it.

I have been using coinbase, just started using Bitstamp to buy some XRP.

 
Skoo said:
I'm a total noob to this so forgive me if I'm way off here, but I was reading about Poloniex this weekend and a lot of people think it's going to crash similar to the MtGox situation.

Again, I could be way off, just thought if you're worried about security you may want to look into it.

I have been using coinbase, just started using Bitstamp to buy some XRP.
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Interesting. I did some searching and found a few things. Seems like they're getting overloaded and bitcoin is taking so damn long to process transactions right now. Hard to tell what the issue is. Even coinbase is having troubles lately.

 
Can one of you trade me silver or PayPal for some of this crap? Need to buy some black market boner pills 

 
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