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Bitcoin-Explain to me how to buy these things

Sheriff Bart

By Sheriff Bart,
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JerseyToughGuys

JerseyToughGuys 3,151

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Posted

someone recently asked "why is it going up now"? This is part of the answer:

https://twitter.com/dan_pantera/status/1323345484833050635

Others buying up supply: Grayscale Bitcoin Trust and, you would assume, Paypal (since it's going to have to buy up a treasury to roll out its BTC plan). 

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Rhythmdoctor

Rhythmdoctor 1,494

Posted
Posted
20 minutes ago, JerseyToughGuys said:

someone recently asked "why is it going up now"? This is part of the answer:

https://twitter.com/dan_pantera/status/1323345484833050635

Others buying up supply: Grayscale Bitcoin Trust and, you would assume, Paypal (since it's going to have to buy up a treasury to roll out its BTC plan). 

Grayscale alone is buying 10x the amount that is being mined per day.  Just wait until there are 10 companies like Grayscale. 

I wonder if @Capella will ever apologize for all his ridicule and shaming once Bitcoin is trading definitively over $20k?  Because when I look back at all his posts, it's nothing but laugh emojis, ridicule and acting like a know-it-all about Bitcoin being a garbage investment yet his view on Bitcoin is proving to be wrong.  Why can't we all be happy for each other instead of hoping for failure? Be excellent.

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JerseyToughGuys

JerseyToughGuys 3,151

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11 minutes ago, Rhythmdoctor said:

Grayscale alone is buying 10x the amount that is being mined per day.  Just wait until there are 10 companies like Grayscale. 

I wonder if @Capella will ever apologize for all his ridicule and shaming once Bitcoin is trading definitively over $20k?  Because when I look back at all his posts, it's nothing but laugh emojis, ridicule and acting like a know-it-all about Bitcoin being a garbage investment yet his view on Bitcoin is proving to be wrong.  Why can't we all be happy for each other instead of hoping for failure? Be excellent.

Let go of the past imo. Plenty of people did this. A few will continue to do so. Such is life.

The world needs Peter Schiffs too. 

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Capella

Capella 32,489

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17 minutes ago, Rhythmdoctor said:

Grayscale alone is buying 10x the amount that is being mined per day.  Just wait until there are 10 companies like Grayscale. 

I wonder if @Capella will ever apologize for all his ridicule and shaming once Bitcoin is trading definitively over $20k?  Because when I look back at all his posts, it's nothing but laugh emojis, ridicule and acting like a know-it-all about Bitcoin being a garbage investment yet his view on Bitcoin is proving to be wrong.  Why can't we all be happy for each other instead of hoping for failure? Be excellent.

Apologize? Lol no bro I don’t owe anybody an apology for my opinion. I hope it makes money for you long-term, and yes, I still extremely doubt it’s worth. 
 

Also, you pumped it for years with no success. Don’t take a victory lap for something that happened literally years after you said it would. That’s not how it works. 

Edited by Capella
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Brunell4MVP

Brunell4MVP 912

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Posted (edited)
On 11/23/2020 at 2:52 PM, Capella said:

Also, you pumped it for years with no success. Don’t take a victory lap for something that happened literally years after you said it would. That’s not how it works. 

This.  Look I own little BTC and quite a bit of ETH.   But the backers of crypto say 'it's gonna go up' and it sits flat, then almost by default it goes up over time.  Suddenly they claim they were right.  Um no, like anything if you hold it long enough it's likely to go up.  Hey, BTC is gonna be worth $50k.  Well yes, that very likely unless it implodes. 

I'm still not sold on the usefullness of crypto as anything but an inflation hedge.  At some point is needs to become usable.  But less (not more) companies are willing to accept BTC as a payment method a year later.  BTC can process almost no transactions per minute compared to VISA.  The system is too slow.  And while they are trying to make it faster, it will still be slow.  ETH has the same issue, even when 2.0 finally comes around.    It' can't sit there like precious metals.  It needs to actually be a payment method.  In no way, shape or form is it ... YET.

 

 

Edited by Brunell4MVP
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hooter311

hooter311 2,956

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Buy the dip.

With billions riding in the crypto futures markets this time around, these sort of pullbacks are healthly and help clear out leveraged money.  Also squeezed out a lot of stop losses.

The bitcoin supply crisis is looming.  The force of paypal and square alone are selling more coins on a daily basis then what are being mined. 

Expecting the price to consolidate between 17k-19k for maybe 10-14 days before making a run at the all time high.  Once we bust 20k this thing is going to take off with FOMO.

 

We have a good 5 months+ of this bull market run.

 

Target price by april- 63k

Still think we could hit it by end of the year.

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Rhythmdoctor

Rhythmdoctor 1,494

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3 hours ago, hooter311 said:

Buy the dip.

With billions riding in the crypto futures markets this time around, these sort of pullbacks are healthly and help clear out leveraged money.  Also squeezed out a lot of stop losses.

The bitcoin supply crisis is looming.  The force of paypal and square alone are selling more coins on a daily basis then what are being mined. 

Expecting the price to consolidate between 17k-19k for maybe 10-14 days before making a run at the all time high.  Once we bust 20k this thing is going to take off with FOMO.

 

We have a good 5 months+ of this bull market run.

 

Target price by april- 63k

Still think we could hit it by end of the year.

I agree with most of what you said although I think the pull back will be a little deeper. We should touch the 20 week moving average during this dip which, depending on time, I project will hit around 13 K. But aside from the price range we consolidate within, I pretty much agree with everything else you said. Thanks for your input.

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hooter311

hooter311 2,956

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1 hour ago, leftcoastguy7 said:

Can anyone recommend an e-wallet provider?

Somewhere where I can easily deposit/withdraw? I want to start giving some of my money to online sportsbooks. 

I wouldnt make a habit of sending from an exchange to a sportsbook.  The exchange will be looking to shut you down.

 

I use a third party anonymous wallet as a go between.

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leftcoastguy7

leftcoastguy7 439

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1 hour ago, hooter311 said:

I wouldnt make a habit of sending from an exchange to a sportsbook.  The exchange will be looking to shut you down.

 

I use a third party anonymous wallet as a go between.

Could you help with some advice as to the steps I should take? I don't know #### about BitCoin. I don't want to invest or harvest or anything. I just want to buy bitcoin to fund my degenerate gambling activities. Can you buy Bitcoin with a credit card? Or checking account draw?

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Dan Lambskin

Dan Lambskin 13,736

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1 hour ago, leftcoastguy7 said:

Could you help with some advice as to the steps I should take? I don't know #### about BitCoin. I don't want to invest or harvest or anything. I just want to buy bitcoin to fund my degenerate gambling activities. Can you buy Bitcoin with a credit card? Or checking account draw?

Buy from an exchange (Coinbase, for example), then transfer to a wallet (blockchain, for example). Then transfer to sportsbook 

those are the ones I use, there may be better options for each 

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hooter311

hooter311 2,956

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15 hours ago, Dan Lambskin said:

Buy from an exchange (Coinbase, for example), then transfer to a wallet (blockchain, for example). Then transfer to sportsbook 

those are the ones I use, there may be better options for each 

This is exactly the path I've seen work in the past.

 

Buy at coinbase and then transferred to an anonymous wallet from blockchain.info and then to and from sportsbooks from there.

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Rhythmdoctor

Rhythmdoctor 1,494

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New ATH, even still the majority of this forum will continue to leave laugh emojis and posts of ridicule on how bitcoin is going to zero.  I've done my evangelizing over the years to everyone I know.  The 8 or so people who listened are ecstatic and will be more ecstatic when they can retire in a few years.  I'm done trying to convince people of the potential for bitcoin.  You either see it or you don't and once 20k confirms support, there's no looking back!

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Angry Beavers

Angry Beavers 2,148

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5 hours ago, Rhythmdoctor said:

New ATH, even still the majority of this forum will continue to leave laugh emojis and posts of ridicule on how bitcoin is going to zero.  I've done my evangelizing over the years to everyone I know.  The 8 or so people who listened are ecstatic and will be more ecstatic when they can retire in a few years.  I'm done trying to convince people of the potential for bitcoin.  You either see it or you don't and once 20k confirms support, there's no looking back!

agreed - lets go

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CowboyFan4822

CowboyFan4822 37

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9 hours ago, Rhythmdoctor said:

New ATH, even still the majority of this forum will continue to leave laugh emojis and posts of ridicule on how bitcoin is going to zero.  I've done my evangelizing over the years to everyone I know.  The 8 or so people who listened are ecstatic and will be more ecstatic when they can retire in a few years.  I'm done trying to convince people of the potential for bitcoin.  You either see it or you don't and once 20k confirms support, there's no looking back!

45% of my portfolio is Bitcoin, I’m a fan 👍🏻

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jb1020

jb1020 1,579

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13 hours ago, headcrack said:

I knew I should have gotten in a few days ago when it was down to 17,800 but no, I stupidly thought it would go lower. 

I bought some at $13500ish a month or so ago.  Then bought some more around $17k.  I think I've done my homework now to where where I feel pretty commfrotable dumping some money into this now.  

I'm at 60% BTC, 20% XPR, 15% ETH and about 5% DNT.  

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urbanhack

urbanhack 12,578

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21 hours ago, Rhythmdoctor said:

New ATH, even still the majority of this forum will continue to leave laugh emojis and posts of ridicule on how bitcoin is going to zero.  I've done my evangelizing over the years to everyone I know.  The 8 or so people who listened are ecstatic and will be more ecstatic when they can retire in a few years.  I'm done trying to convince people of the potential for bitcoin.  You either see it or you don't and once 20k confirms support, there's no looking back!

Bitcoin will hit 100,000 before it goes under 10,000 again IMO.

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Ted Lange as your Bartender

Ted Lange as your Bartender 2,804

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1 hour ago, Courtjester said:

So for those of us that don't have a spare 18k sitting around--earlier it was mentioned you can buy smaller shares. What is the best site/strategy for that? 

You can buy fractions through a PayPal account, but it seems like it’s more a trading vehicle than it being “your” Bitcoin, ie you currently can’t transfer it out of PayPal, you don’t get a wallet password etc..  But it’s really easy if you just want to buy some quickly.

Edited by Ted Lange as your Bartender
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CR69

CR69 1,551

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I’ve got about 1/3 of our assets in crypto lol. Not because I put that much into it but because I got into it when my daughter was born. Big fan long term, heaviest (in order) in BTC/ETH/XMR/XRP/LTC/DASH/NEO/BAT. 

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Rhythmdoctor

Rhythmdoctor 1,494

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4 hours ago, Courtjester said:

So for those of us that don't have a spare 18k sitting around--earlier it was mentioned you can buy smaller shares. What is the best site/strategy for that? 

You're not required to buy a full bitcoin.  Bitcoin can be fractionalized 8 decimal places. So you don't need to do anything unique, you can simply register on any exchange and buy whatever quantity of bitcoin you wish. You can setup recurring purchases which is a good way to dollar cost average.  I'd suggest Coinbase because they're insured and fully compliant with current regulations etc...  Coinbase will charge a premium in fees but at least it's a safe and trusted exchange.  I would suggest investing in a good cold storage wallet to transfer your bitcoin from exchange to the safety of your own possession.  Not your keys, not your coins.

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Dan Lambskin

Dan Lambskin 13,736

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8 hours ago, Rhythmdoctor said:

You're not required to buy a full bitcoin.  Bitcoin can be fractionalized 8 decimal places. So you don't need to do anything unique, you can simply register on any exchange and buy whatever quantity of bitcoin you wish. You can setup recurring purchases which is a good way to dollar cost average.  I'd suggest Coinbase because they're insured and fully compliant with current regulations etc...  Coinbase will charge a premium in fees but at least it's a safe and trusted exchange.  I would suggest investing in a good cold storage wallet to transfer your bitcoin from exchange to the safety of your own possession.  Not your keys, not your coins.

Yeah I know Coinbase may not be the best (at least from a few standpoint) but that’s what I’ve always used

recently set up a $25 auto withdrawal each month.  Not much but better than just sitting in my savings account 

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Nathan R. Jessep

Nathan R. Jessep 5,871

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9 hours ago, Rhythmdoctor said:

You're not required to buy a full bitcoin.  Bitcoin can be fractionalized 8 decimal places. So you don't need to do anything unique, you can simply register on any exchange and buy whatever quantity of bitcoin you wish. You can setup recurring purchases which is a good way to dollar cost average.  I'd suggest Coinbase because they're insured and fully compliant with current regulations etc...  Coinbase will charge a premium in fees but at least it's a safe and trusted exchange.  I would suggest investing in a good cold storage wallet to transfer your bitcoin from exchange to the safety of your own possession.  Not your keys, not your coins.

I know several have been discussed in the past, but right now what are the recommended brands/types of cold storage wallets? And is there a limit, or do I just need one to store all my crypto?

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Rhythmdoctor

Rhythmdoctor 1,494

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2 hours ago, Nathan R. Jessep said:

I know several have been discussed in the past, but right now what are the recommended brands/types of cold storage wallets? And is there a limit, or do I just need one to store all my crypto?

Different products have different offerings. I use the Ledger Nano S which allows you to store up to 4 different crypto currencies.  This device is $60.  The Ledger Nano X is $120 and can store many more than 4 different crypto currencies.  There is also the Trezor product which is similar to Ledger in reputation, quality and security.  I think either a Ledger or Trezor is your best bet.  Those two brands have the most reviews, most trust etc... Since I hold just 2 cryptos (BTC & ETH), I use the Ledger Nano S. There is no limit on how much of an individual coin you can store.

 

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