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Posted: 5/22/2017 4:20:37 PM EDT
[#1]
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Anyone seeing what is going on with the block chain? Some angry people out their in Internet land. |
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Posted: 5/22/2017 4:36:34 PM EDT
[#2]
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Please explain what this means. |
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Posted: 5/22/2017 4:42:38 PM EDT
[#3]
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In simple terms many people's bitcoins are disappearing for extended periods of time in transfer. Like if I was your banker and did a wire for you, withdrew the funds, sent them out, they never arrived at the destination, and couldn't tell you where they are at the moment. |
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Posted: 5/22/2017 4:46:52 PM EDT
[#4]
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I thought the allure of the block chain was that shit like this couldn't happen? |
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Posted: 5/22/2017 5:16:21 PM EDT
[#5]
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Well yeah that's not the case at the moment. Some people have some crazy stories about missing transactions, adding higher fees to love it along, etc etc. Quote HistoryQuoted:
Quoted:
I thought the allure of the block chain was that shit like this couldn't happen? |
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Posted: 5/22/2017 5:20:51 PM EDT
[#6]
Quote HistoryQuoted:
Well yeah that's not the case at the moment. Some people have some crazy stories about missing transactions, adding higher fees to move it along, etc etc. Quote HistoryQuoted:
Quoted:
I thought the allure of the block chain was that shit like this couldn't happen? |
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Posted: 5/22/2017 5:25:40 PM EDT
[#7]
Well if they are stuck in blockchain for days on end I would consider them missing myself. I have no bitcoins at the moment Im just watching some of the action on the side lines right now. I know how it works, Ive played around with these electric currencies for years now and still think its a bad idea for a long term investment for me personally.
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Posted: 5/22/2017 5:27:58 PM EDT
[#8]
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Well if they are stuck in blockchain for days on end I would consider them missing myself. I have no bitcoins at the moment Im just watching some of the action on the side lines right now. I know how it works, Ive played around with these electric currencies for years now and still think its a bad idea for a long term investment for me personally. |
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Posted: 5/22/2017 5:31:38 PM EDT
[#9]
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lol |
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Posted: 5/22/2017 5:35:43 PM EDT
[#10]
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You laugh but imagine trying to explain this to someone who has no understanding of coins and how they work. You think the new guy is going to understand you need to pay a much higher fee just to get a transaction moved? Quote HistoryQuoted:
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lol |
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Posted: 5/22/2017 5:37:19 PM EDT
[#11]
Duh, there always was a transaction fee. Its adjustable now so it seems.
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Posted: 5/22/2017 5:39:49 PM EDT
[#12]
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Duh, there always was a transaction fee. Its adjustable now so it seems. It was designed this way -- the block reward goes away in a few years, and the only reward is transaction fees. Once that happens, no transactions will be processed without them. |
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Posted: 5/22/2017 5:41:43 PM EDT
[#13]
I rolled my Bitcoins into ETH at $100. Making bank!
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Posted: 5/22/2017 6:59:08 PM EDT
[#14]
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I rolled my Bitcoins into ETH at $100. Making bank! 
/derrrrrrrrrppppp!!!1111!!!one!!11! P.S. Good move. 
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Posted: 5/22/2017 7:23:06 PM EDT
[#15]
and here's the selloff.
BTC down $250 ETH down $40 |
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Posted: 5/22/2017 8:57:12 PM EDT
[#16]
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and here's the selloff. BTC down $250 ETH down $40 
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Posted: 5/22/2017 9:21:28 PM EDT
[#17]
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Haven't you heard? ETH's a "shitcoin".
/derrrrrrrrrppppp!!!1111!!!one!!11! P.S. Good move. Quote HistoryQuoted:
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I rolled my Bitcoins into ETH at $100. Making bank!
/derrrrrrrrrppppp!!!1111!!!one!!11! P.S. Good move. It's nowhere *near* mature enough to have been picked up by coinbase. |
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Posted: 5/23/2017 10:37:03 AM EDT
[#18]
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Posted: 5/23/2017 2:44:05 PM EDT
[#19]
Do any of these sites make it easy to open an account?
FFS. I'd actually settle for "not impossible" in lieu of "easy". |
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Posted: 5/23/2017 3:02:36 PM EDT
[#20]
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Do any of these sites make it easy to open an account? FFS. I'd actually settle for "not impossible" in lieu of "easy". You can buy crypto locally face to face though. https://localbitcoins.com/ |
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Posted: 5/23/2017 3:06:27 PM EDT
[#21]
I have seen where some people own several hundred of these things. Why not cash out ASAP? I remember all the bubbles the last 40 years......
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Posted: 5/23/2017 3:10:32 PM EDT
[#22]
Sold off a little to take some profit. I put $400 in a combination of BTC and ETH in March. I've now pulled $600 back out and still have $600 worth in that I'll let ride since they are effectively 'free'.
Small money I know, but I'm pretty risk adverse. |
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Posted: 5/23/2017 3:13:48 PM EDT
[#23]
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I have seen where some people own several hundred of these things. Why not cash out ASAP? I remember all the bubbles the last 40 years...... On the other hand, that's a high risk play that could well lead to $0. |
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Posted: 5/23/2017 3:14:16 PM EDT
[#24]
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I have seen where some people own several hundred of these things. Why not cash out ASAP? I remember all the bubbles the last 40 years...... |
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Posted: 5/23/2017 3:15:33 PM EDT
[#25]
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Unless you are going to trade in crypto that you already have, you basically need to give them access to a back account. So there is understandably a lot of effort put towards confirming your identity. You can buy crypto locally face to face though. https://localbitcoins.com/ |
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Posted: 5/23/2017 3:16:21 PM EDT
[#26]
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I understand but I guess I just wasn't expecting a week wait to confirm that I am who I say I am. Quote HistoryQuoted:
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Unless you are going to trade in crypto that you already have, you basically need to give them access to a back account. So there is understandably a lot of effort put towards confirming your identity. You can buy crypto locally face to face though. https://localbitcoins.com/ |
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Posted: 5/23/2017 4:02:27 PM EDT
[#27]
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I understand but I guess I just wasn't expecting a week wait to confirm that I am who I say I am. |
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Posted: 5/23/2017 4:17:23 PM EDT
[#28]
The only difference between government paper money and cryptocurrencies is who print them out. The only things to making anything worth any value is faith. Faith that it is worth something.
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Posted: 5/23/2017 5:32:28 PM EDT
[#29]
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I have seen where some people own several hundred of these things. Why not cash out ASAP? I remember all the bubbles the last 40 years...... 
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Posted: 5/23/2017 6:37:58 PM EDT
[#30]
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The only difference between government paper money and cryptocurrencies is who print them out. The only things to making anything worth any value is faith. Faith that it is worth something. USD is inflationary; Bitcoin is deflationary. USD has things like quantitative easing; Bitcoin is purely free market. |
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Posted: 5/23/2017 6:42:01 PM EDT
[#31]
If a guy wanted to jump in and throw some small money in each of these various cryptos with the goal of letting it sit for a decade or more, what would they need?
I'm considering Coinbase, and maybe polo to lend it out. |
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Posted: 5/23/2017 6:49:22 PM EDT
[#32]
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If a guy wanted to jump in and throw some small money in each of these various cryptos with the goal of letting it sit for a decade or more, what would they need? I'm considering Coinbase, and maybe polo to lend it out. Not trying to discourage you, but expect to wait longer than they claim. Poloniex is the bread a butter of my crypto trading right now. I have some btc in cryptopia and bitshares, but poloniex is the best right now. |
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Posted: 5/23/2017 6:52:23 PM EDT
[#33]
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Good luck with coinbase. I dollar cost average with an ACA transaction every week. Lately they've been a few days behind. Not trying to discourage you, but expect to wait longer than they claim. Poloniex is the bread a butter of my crypto trading right now. I have some btc in cryptopia and bitshares, but poloniex is the best right now. |
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Posted: 5/23/2017 6:56:13 PM EDT
[#34]
Centralized exchanges are risky. Poloniex is THE target now. A flaw will be found. Get your crypto out now.
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Posted: 5/23/2017 6:58:38 PM EDT
[#35]
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Centralized exchanges are risky. Poloniex is THE target now. A flaw will be found. Get your crypto out now. If someone just wanted to own the currency as a small speculation, do you buy it and then somehow transfer it out? Then down the road can transfer it back in/sell it? |
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Posted: 5/23/2017 7:02:41 PM EDT
[#36]
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@GrasshopperNOmore did you get my im? |
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Posted: 5/23/2017 7:04:05 PM EDT
[#37]
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Into what? If someone just wanted to own the currency as a small speculation, do you buy it and then somehow transfer it out? Then down the road can transfer it back in/sell it? For small amounts of Bitcoin, that's the simplest most straightforward way. Go to a Bitcoin ATM, let the machine read the destination address for the transaction off your smartphone, then start pushing in $20s. Done. |
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Posted: 5/23/2017 7:04:26 PM EDT
[#38]
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Centralized exchanges are risky. Poloniex is THE target now. A flaw will be found. Get your crypto out now. But I agree that distributed exchanges may be better. Get on bitshares and move some volume over. It needs it. |
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Posted: 5/23/2017 7:06:32 PM EDT
[#39]
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You laugh but imagine trying to explain this to someone who has no understanding of coins and how they work. You think the new guy is going to understand you need to pay a much higher fee just to get a transaction moved? Quote HistoryQuoted:
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lol If somebody doesn't understand that's how it work, they shouldn't be "investing" in bitcoin. |
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Posted: 5/23/2017 7:07:07 PM EDT
[#40]
Is there a way bit coins can be purchased and placed into basically a "safe deposit box"?
USB drive or something? |
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Posted: 5/23/2017 7:07:17 PM EDT
[#41]
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I have seen where some people own several hundred of these things. Why not cash out ASAP? I remember all the bubbles the last 40 years...... This is atleast Bitcoin's 4th bubble, each time pushing higher than before. If you didn't already have serious nuts and a high tolerance for risk, you never would have held out this long in the first place. Put another way, the guys who have millions in Bitcoin today had to sit through being both up and down hundreds of thousands to get here. If you understand what is going on with cryptocurrency and blockchain technology then you'll understand that this is a high risk high reward gamble and we are a LONG way off from the two potential outcomes for Bitcoin or any other crypto. Some people understood that when they signed up for this experiment. |
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Posted: 5/23/2017 7:13:36 PM EDT
[#42]
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Lots of people have memories of cashing out during the $30 bubble in 2011. There are tons of sob stories of people who had thousands of them and sold in the single and double digits which seemed high at the time. This is atleast Bitcoin's 4th bubble, each time pushing higher than before. If you didn't already have serious nuts and a high tolerance for risk, you never would have held out this long in the first place. Put another way, the guys who have millions in Bitcoin today had to sit through being both up and down hundreds of thousands to get here. If you understand what is going on with cryptocurrency and blockchain technology then you'll understand that this is a high risk high reward gamble and we are a LONG way off from the two potential outcomes for Bitcoin or any other crypto. Some people understood that when they signed up for this experiment. |
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Posted: 5/23/2017 7:21:50 PM EDT
[#43]
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Is there a way bit coins can be purchased and placed into basically a "safe deposit box"? USB drive or something? There's even a thing called a "memory wallet" where you send bitcoins to an address that exists only in your mind (as in you memorized it). All of the above should tried with tiny amounts of Bitcoin to make sure you grasp getting money in and out of those types of wallets. Google can handle the rest in terms of the details of those types of wallets. To get started just stick with a service like Coinbase and go from there. Do understand that Bitcoin is high risk and high volatility. If you put significant money into it you will have stomach churning highs and lows to ride out and the potential to go busy. I wouldn't even mess with it ubless you are willing to hold out for 5+ years come he'll or high water. |
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Posted: 5/23/2017 7:21:59 PM EDT
[#44]
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Is there a way bit coins can be purchased and placed into basically a "safe deposit box"? USB drive or something? |
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Posted: 5/23/2017 7:23:29 PM EDT
[#45]
Quote HistoryQuoted:
Lots of people have memories of cashing out during the $30 bubble in 2011. There are tons of sob stories of people who had thousands of them and sold in the single and double digits which seemed high at the time. This is atleast Bitcoin's 4th bubble, each time pushing higher than before. If you didn't already have serious nuts and a high tolerance for risk, you never would have held out this long in the first place. Put another way, the guys who have millions in Bitcoin today had to sit through being both up and down hundreds of thousands to get here. If you understand what is going on with cryptocurrency and blockchain technology then you'll understand that this is a high risk high reward gamble and we are a LONG way off from the two potential outcomes for Bitcoin or any other crypto. Some people understood that when they signed up for this experiment. I just had a buddy cash out $3M+ in ETH over the past 24 hours. The money is real and crypto is here to stay. Either come to terms with it, or be left behind. It's the circle of life, as with anything. |
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Posted: 5/23/2017 7:23:59 PM EDT
[#46]
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Is there a way bit coins can be purchased and placed into basically a "safe deposit box"? USB drive or something? You can even use a brainwallet. Your private key can be derived from a phrase which you can memorize. |
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Posted: 5/23/2017 7:25:06 PM EDT
[#47]
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what are the two potential outcomes ? Quote HistoryQuoted:
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Lots of people have memories of cashing out during the $30 bubble in 2011. There are tons of sob stories of people who had thousands of them and sold in the single and double digits which seemed high at the time. This is atleast Bitcoin's 4th bubble, each time pushing higher than before. If you didn't already have serious nuts and a high tolerance for risk, you never would have held out this long in the first place. Put another way, the guys who have millions in Bitcoin today had to sit through being both up and down hundreds of thousands to get here. If you understand what is going on with cryptocurrency and blockchain technology then you'll understand that this is a high risk high reward gamble and we are a LONG way off from the two potential outcomes for Bitcoin or any other crypto. Some people understood that when they signed up for this experiment. 2) Mind blowing valuations due to mass adoption. There is no middle ground where Bitcoin piddles along at a few hundred or a few thousand bucks per each indefinitely. |
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Posted: 5/23/2017 8:04:50 PM EDT
[#48]
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what are the two potential outcomes ? It's deflationary in design. The longer it stays around the more it's worth compared to dollars. I expect it will come down from it's current price before long, but if it sticks around it's going up, a lot... |
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Posted: 5/23/2017 8:29:47 PM EDT
[#49]
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+1 Well said. I just had a buddy cash out $3M+ in ETH over the past 24 hours. The money is real and crypto is here to stay. Either come to terms with it, or be left behind. It's the circle of life, as with anything. |
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Posted: 5/23/2017 8:31:53 PM EDT
[#50]
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Stocks are for old money and old people. Here's to the millionaire-to-be crypto gamble. |
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