Bitcoin Price Tracking & Discussion -- 2017

[ThaWoj]

simple question... how do I get my btc from coinbase to my gdax wallet? and will this affect my BCH (that I don't have access until jan 1) in any way?

Should be an option on gdax for instant xfer from coinbase

[swordsandtequila]

simple question... how do I get my btc from coinbase to my gdax wallet? and will this affect my BCH (that I don't have access until jan 1) in any way?

As ThaWoj said, there's an option under the deposit tab. Free and instant from Coinbase (cash or btc wallet). A pic:

[shocka1212]

As ThaWoj said, there's an option under the deposit tab. Free and instant from Coinbase (cash or btc wallet). A pic:

so sell on coinbase to my usd wallet and then transfer to gdax ? because I had been hoping to transfer the btc directly from coinbase to gdax. (was trying to sell some of it on gdax to avoid the hefty fees of doing it on coinbase.)

[swordsandtequila]

so sell on coinbase to my usd wallet and then transfer to gdax ? because I had been hoping to transfer the btc directly from coinbase to gdax. (was trying to sell some of it on gdax to avoid the hefty fees of doing it on coinbase.)

You're over thinking it. Look at the pic again, there's an option to transfer cash OR btc directly to GDAX. Under "Source", the USD Wallet/My Wallet will be populated with any funds/btc you have in Coinbase. Choose and click Deposit funds. Done.

[mrpapageorgio]

So you're suggesting instead of the normal route of nitro to a wallet to bitpay I should just go nitro to gdax and sell to my bank account?

Id ideally rather send it to bitpay. On bitcoin fees site it shows the best fee to send is 950 s/byte lol

If you have a Bitpay card, by all means send it there. I thought you were strictly asking in terms of GDAX.

[bitcoinLuke]

What's your chart estimate as a bottom before some stabilization? I sold the little I had to minimize loss with the idea of buying back in once the price dropped. Would like to set a limit order and let it be. Appreciate your opinion. Others feel free to chime in.

$5000 will be the bottom before we go back up, although I wouldn't reccomend setting your buy order on the complete bottom since there will be many orders set there and your order may not get filled. $5100 or $5125 is what I'd put it at. Its only 2% higher and will ensure your order gets filled

[mrpapageorgio]

so sell on coinbase to my usd wallet and then transfer to gdax ? because I had been hoping to transfer the btc directly from coinbase to gdax. (was trying to sell some of it on gdax to avoid the hefty fees of doing it on coinbase.)

No don't sell the BTC on Coinbase (I'm assuming you're trying to sell your BTC to USD?). Login to GDAX using your Coinbase credentials. If you're trying to sell your BTC for USD, make sure it says BTC/USD on the top left. Then click the deposit button. A box will come up with deposit options, click the Coinbase account tab. Now since you want to move Bitcoin from Coinbase to GDAX, click the drop down box and select BTC wallet and enter the amount of Bitcoin you want to transfer and click deposit funds. If you're selling, click the sell button below Market/Limit/Stop and enter the amount of bitcoin you want to sell and click "Place Sell Order". Then when it converts to USD you can click Withdraw, and either transfer it to the Coinbase USD wallet or transfer it to your bank account.

[swordsandtequila]

$5000 will be the bottom before we go back up, although I wouldn't reccomend setting your buy order on the complete bottom since there will be many orders set there and your order may not get filled. $5100 or $5125 is what I'd put it at. Its only 2% higher and will ensure your order gets filled

Thanks for the response Luke. I had set a limit order @ $5100 based on some projections I'd read (including yours). Didn't want to go too low for fear of missing out by a few bucks. Comfortable with btc but getting my feet wet with market trading so learning on the fly. First lesson learned, should have had a sell order @ $7800 pre-fork (was holding out for $8000) . Without giving up your methodology, are there sites you like more than others for charts, info, etc.? Any opinion on this site: http://30rates.com/btc-to-usd-foreca...lar-to-bitcoin, or it's parent site? Thanks again to all for the info, keep it coming

[ChuckyTheGoat]

Bitcoin investing is like sports-betting x10. The swings will drive u insane, if u let it. Have to absorb the volatility + not play over your head.

[bitcoinLuke]

Thanks for the response Luke. I had set a limit order @ $5100 based on some projections I'd read (including yours). Didn't want to go too low for fear of missing out by a few bucks. Comfortable with btc but getting my feet wet with market trading so learning on the fly. First lesson learned, should have had a sell order @ $7800 pre-fork (was holding out for $8000) . Without giving up your methodology, are there sites you like more than others for charts, info, etc.? Any opinion on this site: http://30rates.com/btc-to-usd-foreca...lar-to-bitcoin, or it's parent site? Thanks again to all for the info, keep it coming

Yeah, trying to hit the exact bottom is dangerous, unless you're able to sit in front of a computer as it's happening.

To be honest, I didn't know that site existed until you post it, but looks good for general guidelines/predictions. To completely accurate, you need to make your own charts or follow someone who does.
Back when I started in Bitcoin, I followed some twitter accounts that posted daily charts and over time learned how to do it on my own;I could look up a couple if you're interested.You only need to follow a couple good accounts(rather than 100) to get accurate predictions. If they are doing it right, their charts should be very similar. I do all my own charts so if I'm wrong I have no one to blame but myself.

[swordsandtequila]

Yeah, trying to hit the exact bottom is dangerous, unless you're able to sit in front of a computer as it's happening.

To be honest, I didn't know that site existed until you post it, but looks good for general guidelines/predictions. To completely accurate, you need to make your own charts or follow someone who does.
Back when I started in Bitcoin, I followed some twitter accounts that posted daily charts and over time learned how to do it on my own;I could look up a couple if you're interested.You only need to follow a couple good accounts(rather than 100) to get accurate predictions. If they are doing it right, their charts should be very similar. I do all my own charts so if I'm wrong I have no one to blame but myself.

Sure, anything you care to post/share would be welcome. Thanks.

[bitcoinLuke]

Bitcoin investing is like sports-betting x10. The swings will drive u insane, if u let it. Have to absorb the volatility + not play over your head.

It definitely is when you begin. Until you learn when(and how low) a swing will go they are going to drive you nuts. Once you learn when they are coming you just sell, sit in USD and wait for the bottom. Rinse and repeat

[pilebuck13]

Luke do you think every withdrawal will be reported to IRS regardless of said amounts?

[TheMoneyShot]

Bitcoin just touched $6,000 moments ago... and it shot down back to 5,910 within 4 minutes. Did people have sell off orders? Damn. Can't win.

[bitcoinLuke]

Luke do you think every withdrawal will be reported to IRS regardless of said amounts?

No, not a chance. Coinbase is the most compliant exchange out there and even they don't report most accounts to the IRS. To get a 1099 from Coinbase you have to be considered a business account (recieving payments from sales). This requires 200 transactions and over $20,000 in transactions.

[pilebuck13]

No, not a chance. Coinbase is the most compliant exchange out there and even they don't report most accounts to the IRS. To get a 1099 from Coinbase you have to be considered a business account (recieving payments from sales). This requires 200 transactions and over $20,000 in transactions.

Thnx but appreciate your info

[ans61201]

I don't know if this is allowed, so moderators I apologize in advance ( have seen some weird rules on here)


Anyhow, I am currently waiting for my initial purchase to go through, and would like to buy more BTC, does anyone on here have some for sell?

[ans61201]

Or does anyone know how to purchase BTC quicker than the sites allow? Coinbase fully verified my account and set my initial limit at 5k, and wont raise it until that one processes, or 30 days, which ive heard takes a while to process.

[ans61201]

For those of you that believe this will go to 50k, and I'm not saying it won't, how would that affect the economy?

Everyone and their mother that I know will be a multi-millionaire. And we all know that eventually Crytos are exchanged back into local currency.

On the flip side someone has to be the bag holder at the end. Who will that be?

Would love to hear the people with more knowledge on the subject address this one

[TheMoneyShot]

Found this to be very interesting....


Someone apparently moved 15,000 Bitcoins on November 11, 2017 and then moved an additional 25,000 Bitcoins on November 12, 2017 adding up to a total of a whopping $250,000,000 dollars.

Would this be enough to shake up the network a tad? Wow.

[shocka1212]

Or does anyone know how to purchase BTC quicker than the sites allow? Coinbase fully verified my account and set my initial limit at 5k, and wont raise it until that one processes, or 30 days, which ive heard takes a while to process.

they take forever. they only raised my weekly to 7500k. stilll waiting for another

[illiteratepotato]

Or does anyone know how to purchase BTC quicker than the sites allow? Coinbase fully verified my account and set my initial limit at 5k, and wont raise it until that one processes, or 30 days, which ive heard takes a while to process.

Avoid coinbase. Wire funds through bitstamp.net under 100k. Above that email them for OTC buys.

[raiders72001]

CME said that BTC futures trading could start in Dec.

[trytrytry]

who is CME? what does the signify?

[mrpapageorgio]

who is CME? what does the signify?

Chicago Mercantile Exchange. It'll bring Bitcoin closer to mainstream and likely increase demand=increase price.

[shocka1212]

CME said that BTC futures trading could start in Dec.

thats when we can make serious money. (traded future options in the past)

[ThaWoj]

wish i wouldnt have hastily cashed out from nitro last night to my bitpay. cost me a good bit, 1st nice hit in a while on nfl and the dam thing dips from 7200 a few days ago when i pushed on few -1 hockey bets to 5880 when i cashed out my winnings last night...now 6500 dammit

oh well at least i got paid and have cash in hand/on card with no worries.

[ChuckyTheGoat]

thats when we can make serious money. (traded future options in the past)

That is going to be off the hook. Can u imagine the swings? Crazy.

PS, I watched video of the boy in your avatar. Guy seems legit to me. He just did my proctology exam, said everything looked fine.

[ChuckyTheGoat]

wish i wouldnt have hastily cashed out from nitro last night to my bitpay. cost me a good bit, 1st nice hit in a while on nfl and the dam thing dips from 7200 a few days ago when i pushed on few -1 hockey bets to 5880 when i cashed out my winnings last night...now 6500 dammit

oh well at least i got paid and have cash in hand/on card with no worries.

I hear u, the swings are crazy. I just hope I don't bust-out of accts by making bad picks.

[shocka1212]

That is going to be off the hook. Can u imagine the swings? Crazy.

PS, I watched video of the boy in your avatar. Guy seems legit to me. He just did my proctology exam, said everything looked fine.

How much he charge per finger? (Asking for a friend)

[ChuckyTheGoat]

How much he charge per finger? (Asking for a friend)

Flat-rate = $1000 per knuckle-deep.

[GradyFuson]

When do hash rates and difficulties change again for BTC and BCH? If the 'bitcoin core' doesn't make an adjustment will the high fees and network problems return when the difficulty gets high enough? And is there a legitimate possibility of BCH overtaking BTC?

[shocka1212]

Quick bch question... what will I get it at? The same price of the initial offering on the date of the fork?

[raiders72001]

Quick bch question... what will I get it at? The same price of the initial offering on the date of the fork?

You'll have as many BCH as you had BTC at the time of the snapshot. The value of the BCH is the current value.

[mrpapageorgio]

When do hash rates and difficulties change again for BTC and BCH? If the 'bitcoin core' doesn't make an adjustment will the high fees and network problems return when the difficulty gets high enough? And is there a legitimate possibility of BCH overtaking BTC?

Bitcoin Cash just went through an adjustment which stopped the rally of BCC against Bitcoin since it became more profitable to mine regular Bitcoin after the adjustment. Bitcoin adjusts every 2016 blocks and this site predicts that'll happen again in 16.4 days at the current rate of mining. https://bitcoinwisdom.com/bitcoin/difficulty

The problem was everyone was jumping in on the Bitcoin bandwagon in anticipation of the 2x fork (that got called off) which created a record amount of transactions on the network and since the adjustment doesn't adjust in real time, it created a huge backlog of transactions. That and BCC being more profitable for a time made the network slow to a crawl until the readjustment.

I don't have a crystal ball, but I don't see another situation like that in the near future unless another major fork gets announced, or if BCC wants to try and get cute and adjust the difficulty and make it profitable for miners to slow Bitcoin down again. However, if more and more people adopt Bitcoin, it's going to eventually become a problem again unless they do something soon about scaling. They've been promising the lightning network will solve all of the problems, however as I have posted before, everyone in The Money Pit also kept telling Tom Hanks they'd be done in 2 weeks.