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Bitcoin-Explain to me how to buy these things


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On 2/26/2021 at 1:51 PM, Alex P Keaton said:

My opinions are very much uninformed!  Which is why I'm asking this group.   Truly, thank you.


Unrelated aside, I have a few co-workers who are....not terribly smart.....getting really into day trading.   One of them is very excited about Bitcoin.  When I asked him about the "mining" of Bitcoin....it became clear that he imagines someone physically mining for an actual precious metal, like gold mining.  It was disturbing.   (this was the same young co-worker who was buying Game Stop because he wanted to stick it to the fat cats on Wall St......)

I realize most people in crypto currencies aren't like my co-worker.  It just reminds me an awful lot of tech stocks in 1999.

 

I had a “boomer” ask me about BTC last week.  “Can I ask a stupid question..... where is the coin.... there is an actual coin out there isn’t there?”

”in the future aren’t these coins going to be counterfeited”

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59 minutes ago, jb1020 said:

For the Alt Coin guys...check out BEPRO.   I got in with a tiny amount and its up about 400%.  Been slowly adding to it.  

Its my moonshot coin right now.  Currently trading at .006. 

This asset is not supported by Coinbase :rolleyes:

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19 minutes ago, beer 30 said:

This asset is not supported by Coinbase :rolleyes:

Yeah.  I started a kucoin account.  It was a very confusing exchange at first.  You can move most of your coinbase crypto to kucoin, then convert to whatever.  It was pretty easy to get going. 

Kucoin also has the "bots" you can set up.  Give them a budget and they'll buy and sell coins for you at the optimal times.   

I wanted to get back into XRP. I had a bit of it when I first started on coinbase, then coinbase pulled them so I traded.  

 

 

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4 minutes ago, jb1020 said:

Yeah.  I started a kucoin account.  It was a very confusing exchange at first.  You can move most of your coinbase crypto to kucoin, then convert to whatever.  It was pretty easy to get going. 

Kucoin also has the "bots" you can set up.  Give them a budget and they'll buy and sell coins for you at the optimal times.   

I wanted to get back into XRP. I had a bit of it when I first started on coinbase, then coinbase pulled them so I traded.  

My crypto balance equals all the free stuff given to me at Coinbase, right now I'm at $61. My loyalty lies with them :lmao:

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On 3/3/2021 at 11:03 AM, jb1020 said:

Yeah.  I started a kucoin account.  It was a very confusing exchange at first.  You can move most of your coinbase crypto to kucoin, then convert to whatever.  It was pretty easy to get going. 

Kucoin also has the "bots" you can set up.  Give them a budget and they'll buy and sell coins for you at the optimal times.   

I wanted to get back into XRP. I had a bit of it when I first started on coinbase, then coinbase pulled them so I traded.  

 

 

Any recommendations for other sites that I can compare for buy crypto that isn't available on coinbase?

I want to look into all my options

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On 3/3/2021 at 11:08 AM, beer 30 said:

My crypto balance equals all the free stuff given to me at Coinbase, right now I'm at $61. My loyalty lies with them :lmao:

At $68.69 now, y'all laugh all you want. Putting in an order for a pool now.

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56 minutes ago, Yenrub said:

Any recommendations for other sites that I can compare for buy crypto that isn't available on coinbase?

I want to look into all my options

I use coinbase and coinbase pro for most everything.  Kucoin is a site that has a ton of options, its a tad overwhelming.  Kraken, Gemini and Binance are other popular exchanges.    

I've gotten the hang of Kucoin.  I like it now.  I haven't deposited any USD to Kucoin yet.  I've just transferred crypto from coinbase directly to kucoin.  

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On 3/10/2021 at 1:25 PM, Yenrub said:

Any recommendations for other sites that I can compare for buy crypto that isn't available on coinbase?

I want to look into all my options

You may want to check into some of the Decentralized Exchanges like Uniswap (UNI) and SushiSwap (SUSHI).  Also, there are DEX Aggregators like 1Inch (1INCH) that find the best prices on all the DEX’s.

As far as tools to use to simply educate yourself on the details of many crypto projects out there, I’d look into Messari.

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On 3/3/2021 at 7:38 AM, jb1020 said:

For the Alt Coin guys...check out BEPRO.   I got in with a tiny amount and its up about 400%.  Been slowly adding to it.  

Its my moonshot coin right now.  Currently trading at .006. 

 

Bepro Currently at .0185.  Up 1100% in a month.  The future of online gaming and gambling is not dollar bills.

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  • 2 weeks later...

Added a little at just under $52k. Of course now that I'm pretty much done buying, there's no more 3-5 day wait for funds to clear.

Of well. Not much more to do but wait. Good luck all.

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7 hours ago, cubd8 said:

How is Paypal going to accept bitcoin for purchases?

Bitcoin currently near 59K

Just convert at the current rate I assume. It's certainly an interesting free market decision, like Tesla made. So if I own 1/10th of a BTC and the price is $60k, I imagine I can use that to convert to $6000 and pay for something via Paypal. Then Paypal hopes that the long term, eventual rate is above $60k. 

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20 minutes ago, ConstruxBoy said:

Just convert at the current rate I assume. It's certainly an interesting free market decision, like Tesla made. So if I own 1/10th of a BTC and the price is $60k, I imagine I can use that to convert to $6000 and pay for something via Paypal. Then Paypal hopes that the long term, eventual rate is above $60k. 

Or PayPal may be exchanging that back. They could charge x% and almost act like CoinBase. They may hold some Bitcoin for when people buy Bitcoin from them but if they want to avoid the risk of holding onto Bitcoin they just act like an exchange and just make money on transactions like they do now.

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14 minutes ago, stbugs said:

Or PayPal may be exchanging that back. They could charge x% and almost act like CoinBase. They may hold some Bitcoin for when people buy Bitcoin from them but if they want to avoid the risk of holding onto Bitcoin they just act like an exchange and just make money on transactions like they do now.

Sure. I would actually think that most companies do that, with an upcharge like you said, and then decide to hold on to a small amount as a portfolio diversifier. But they can get "hype and accolades" from saying they accept BTC for purchases. Seems like a smart move to me. 

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4 minutes ago, ConstruxBoy said:

Sure. I would actually think that most companies do that, with an upcharge like you said, and then decide to hold on to a small amount as a portfolio diversifier. But they can get "hype and accolades" from saying they accept BTC for purchases. Seems like a smart move to me. 

Yeah and I believe transaction fees could potentially be all theirs in this case if they can do what CoinBase does. No Visa/MC getting a cut.

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6 minutes ago, CR69 said:

Loving this ETH pop and think it continues in the long run. I'm 50/50 BTC/ETH which is probably more aggressive than most would recommend but I'm a believer. 

 

Ditto.  This Nft craze is defintely going to propel eth.

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7 minutes ago, PinkydaPimp said:

Ditto.  This Nft craze is defintely going to propel eth.

I'm also a believer in the NFT tech but also that 95% of them for sale right now won't be worth 10% of their current value in 5 years. 

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On 3/29/2021 at 10:38 AM, brun said:

Added a little at just under $52k. Of course now that I'm pretty much done buying, there's no more 3-5 day wait for funds to clear.

Of well. Not much more to do but wait. Good luck all.

My own opinion here but I think this whole “stall” at 59K is more the chart catching up with the bullishness.  50 day MA has caught way up and we have formed a base to build upon.

guess we shall see but I think sometime soon we are going to break 62K and it’s off to 74K where the next pause will take place.

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2 hours ago, PinkydaPimp said:

Completely agree. 

Now I just wish I could identify that 5% lol. I've thrown some in Top Shot due to the NBA bring involved (and now MJ) but I'm already down a bunch haha. 

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On 4/3/2021 at 8:58 PM, The Ref said:

My own opinion here but I think this whole “stall” at 59K is more the chart catching up with the bullishness.  50 day MA has caught way up and we have formed a base to build upon.

guess we shall see but I think sometime soon we are going to break 62K and it’s off to 74K where the next pause will take place.

March has typically been an off month for BTC; in the 9 previous Marches, BTC declined in 7 of them.  April has been the complete opposite, increases in 7 of the last 9.

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Not sure if anyone is in HEX

Buddy helped me as it was a process.

put in 3K

Currently at 16K value

Total $26.5K including if you wait for your cash out dates.

This was a YOLO for me, so I'm going to keep putting it back in.  1MM or nothing.  

 

Anyone else playing this game?

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Small BTC bonus.   If you have a cash app account and get a cash app card (it’s free) once a week they let you active a “boost”.  Can be 20% cash rebate at Burger King or $5 off a Starbucks order - you can pick.

every week they offer a 10% rebate in Bitcoin on $75 (up to $7.50 USD equiv of BTC) “Boost”.

Not bad “for free”

 

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On 4/3/2021 at 7:27 PM, CR69 said:

Loving this ETH pop and think it continues in the long run. I'm 50/50 BTC/ETH which is probably more aggressive than most would recommend but I'm a believer. 

 

I grabbed 1 ETH last week.  Far more invested in BTC but I’m glad I started some semblance of a position.

 

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12 hours ago, The Ref said:

I grabbed 1 ETH last week.  Far more invested in BTC but I’m glad I started some semblance of a position.

 

Yeah it's popped a bit recently. I should clarified though that I was like 47.5/47.5/5 BTC/ETH/XRP but my XRP stake jumped quite a bit this week. It's my tiny gamble on the dinosaurs not going extinct...

Welcome to the ether side!

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Just randomly checked binance and my purchase a few years ago of 8500 Cardano worth $1200 is now at almost $11k.  That was a pleasant surprise.  Had pretty much written that one off.  Haven’t even checked it for months.  

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57 minutes ago, unckeyherb said:

Just randomly checked binance and my purchase a few years ago of 8500 Cardano worth $1200 is now at almost $11k.  That was a pleasant surprise.  Had pretty much written that one off.  Haven’t even checked it for months.  

Nice!!!  

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17 minutes ago, jb1020 said:

You XRP guys are island shopping this week right?  That was a hell of a run.  I got in, but then my weak paper hands folded when the SEC suit was announced.    

I think it still has a ways to go.  Whenever it is re-listed on Coinbase its going to move big because its really hard to buy in the US right now which is amazing considering the movement.  And then when the SEC suit is settled..... watch out.  Ive held XRP for a while and will be doing so for a while.

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Just now, PinkydaPimp said:

I think it still has a ways to go.  Whenever it is re-listed on Coinbase its going to move big because its really hard to buy in the US right now which is amazing considering the movement.  And then when the SEC suit is settled..... watch out.  Ive held XRP for a while and will be doing so for a while.

Oh it definitely has a ways to go.  I think it hit bottom at .17 not too long ago.  The die hards we're buying it up like crazy. I was a total noob and it was one of the first cryptos I got into late last summer.  When the lawsuit hit I panicked, but was thankful I only had dipped a toe in at that point.  

I'm slowly accumulating some more, but is hard to purchase for $1.30 when it was .17 a few weeks ago.  

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On 4/11/2021 at 2:51 PM, unckeyherb said:

Just randomly checked binance and my purchase a few years ago of 8500 Cardano worth $1200 is now at almost $11k.  That was a pleasant surprise.  Had pretty much written that one off.  Haven’t even checked it for months.  

Been in since $.09.  It’s a very polarizing crypto.  Seems like it’s either loved or hated.

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17 minutes ago, TheDirtyWord said:

Been in since $.09.  It’s a very polarizing crypto.  Seems like it’s either loved or hated.

interesting.  That was my understanding when I bought it in 2016 I think?  I'll be honest, I've not kept up with Crypto at all.  
Since you've been an owner longer than me, in your opinion, what is the long term outlook for ADA?  Price predictions here range from $0.20 to $70, Lol.  

I feel like I just found $10k on the street.  Wondering if I just let it roll or should I pull it as found money and be happy.

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37 minutes ago, unckeyherb said:

interesting.  That was my understanding when I bought it in 2016 I think?  I'll be honest, I've not kept up with Crypto at all.  
Since you've been an owner longer than me, in your opinion, what is the long term outlook for ADA?  Price predictions here range from $0.20 to $70, Lol.  

I feel like I just found $10k on the street.  Wondering if I just let it roll or should I pull it as found money and be happy.

I have a small position in ADA.  Most seem to think you sell around $2.15 - $2.25.   Though if its me, I'd probably be rolling half that found profit into a few other coins.  Sell/convert half, let the other half ride to the $2.25 mark?  

 

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So, I had some fractions of ####coins left at binance that I couldn't really do anything with whenever it was that they pushed us over to the US site. Now they're cumulatively worth about $50. I'm inclined to just let them sit there and see what happens, but my question at the end of that will be the same as my question now: Can/How do I move that $ off the non-US site?

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26 minutes ago, Bob Sacamano said:

So, I had some fractions of ####coins left at binance that I couldn't really do anything with whenever it was that they pushed us over to the US site. Now they're cumulatively worth about $50. I'm inclined to just let them sit there and see what happens, but my question at the end of that will be the same as my question now: Can/How do I move that $ off the non-US site?

I just did this.  Created a binance.us account and transferred from the binance.com site to my wallet on the .us site.  Transferred instantly.

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34 minutes ago, jb1020 said:

I have a small position in ADA.  Most seem to think you sell around $2.15 - $2.25.   Though if its me, I'd probably be rolling half that found profit into a few other coins.  Sell/convert half, let the other half ride to the $2.25 mark?  

 

thanks.  Any recommendations to convert to?  

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1 minute ago, unckeyherb said:

thanks.  Any recommendations to convert to?  

I've taken positions in REN, ATOM, MATIC and DNT recently.    They haven't moved much yet, but they look like they could have a breakout soon.  

I hold BTC and ETH and a little LTC.  Not sure what it would take to ever sell those, but I'm wide open for anything else.  I'm trying to play the game now.  It might work, it might not?  If any of these alt coins go up 25-30% I'll sell half and convert into something else.  

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1 hour ago, joker said:

Any thoughts on BAT as a crypto, if it will keep climbing, where it may end up? I have just enough that it could be worth something if this ever exploded, but I also want to be realistic.

Funny, I opened this thread up yesterday to ask almost the same question but ended up bailing. 

I first heard of it a few years back not long after I started understanding more about BTC. The connection to the Brave browser helped it make a lot of sense for me. 

I didn't buy at the time (sadly) but bought in a bit at the end of January when I finally set up a Coinbase account for some BTC/ETH. Bought in a couple more times over the next 6 weeks or so and while I don't have a ton in there I'm realizing, like you, that it could possibly turn into something I'd consider significant. 

So all that to say I'd love to also hear thoughts on BAT from the people who really understand/follow crypto. 

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