crypto currency discussion

The Kraken · 06-26-17, 04:33 PM

Originally posted by jjgold

Ether is really getting crushed when is a good time to buy

Originally posted by raiders72001

now

d2bets · 06-26-17, 04:34 PM

Originally posted by ThaWoj

Saw a prop on fairlay a month ago whether bitcoin would drop below 1800 at any point before September 1st. At the time I thought it was impossible. Now it actually seems possible.

What were/are the odds?

ThaWoj · 06-26-17, 05:46 PM

I don't remember but the "no" was the chalk, but surprisingly not as big as I thought it should have been at the time.

RoyBacon · 06-26-17, 06:48 PM

Originally posted by cornmeal

I have regular coinbase account been using, tried several times signing in on the gdax side(try to save on these fees)it goes thru the verification process again and says it cant verify me.
wtf coinbase regular customer 2 year, it will not even let me get to the page to upload id. ive been living same address for 20 years. Ive emailed several times but no responses.

Any ideas guys?

Hmm. All of these exchanges have horrible CS. I remember some difficulty getting approved for GDAX even though I'm a lonnnng time CB client. And it took about 10 days to get my limits raised even though the website says 3 days.

I seem to remember they do the verify thing all over again. It was well worth the effort.

jjgold · 06-26-17, 07:04 PM

Ether went to $.10 Recently for a very short time then shot up to $300 that's how dangerous it is to invest

cornmeal · 06-26-17, 07:05 PM

Thanks Bacon
I will keep following up with email to them

MeanPeopleSuck · 06-26-17, 07:36 PM

Originally posted by cornmeal

Thanks Bacon
I will keep following up with email to them

I've never been a big fan of Coinbase. It's US based and currently being sued by the IRS for its client records, which makes privacy minded investors like me nervous. The Flash Crash also hurt a lot of folks I like with late triggering Stop orders, so CB's definitely on most trader's sh!t lists right now.

All platforms are experiencing explosive growth, so support time's lengthened, but opening accounts and trading with little or no verification is pretty easy at Bitfinex, Poloniex and Kraken, if you wanted to diversify your platforms (a good idea anyway; with all this growth we're overdue for a new hack -- there's even a pool on which site gets hit next at Reddit; my money's on Poloniex).

The Kraken · 06-26-17, 07:38 PM

Originally posted by jjgold

Ether went to $.10 Recently for a very short time then shot up to $300 that's how dangerous it is to invest

You reading last weeks paper again?

cornmeal · 06-26-17, 07:59 PM

Mean quick question
coin seems to be only option to directly deposit funds for me.
kraken wants id, picture of me holding id, picture of me holding id in front of the house,picture of me holding id with the dog in front of the house,etc....
bitfinex last time I used said they wouldnt accept usd deposits?
Im not very comfortable(yet) with the localbitcoin option, could you recommend any other options

MeanPeopleSuck · 06-26-17, 08:41 PM

Originally posted by cornmeal

Mean quick question
coin seems to be only option to directly deposit funds for me.
kraken wants id, picture of me holding id, picture of me holding id in front of the house,picture of me holding id with the dog in front of the house,etc....
bitfinex last time I used said they wouldnt accept usd deposits?
Im not very comfortable(yet) with the localbitcoin option, could you recommend any other options

Heh, heh, heh, good dog line. Yeah, definitely DON'T use LocalBitCoins unless you've got a pressing need to buy or sell BTC right NOW, because the exchange rates suck.

Fiat's a pain in the a$$ compared to moving crypto around, but if you've got a little time -- say, a week -- and don't mind a normal level of ID verification -- your passport or state ID -- then I'd recommend Bitstamp.net. After you send them your ID and verify your bank account by receiving two small deposits, you can send them a wire in dollars. Wires take about 3 business days to clear.

Bitstamp's the only fully EU regulated exchange on earth, which means your money -- fiat or coins -- is completely safe, but for the same regulated reason they're a bit boring: no margin trading or going short, and their offering of alt-coins is thin: only Ripple (XRP) and Litecoin (LTC). Of course, once you've changed your fiat to BTC, you can send that BTC anywhere in an hour, if more adventurous trading is your cup of tea.

cornmeal · 06-26-17, 08:43 PM

Much appreciated sir

MeanPeopleSuck · 06-26-17, 09:20 PM

Originally posted by cornmeal

Much appreciated sir

Any time. It's a team effort.

RoyBacon · 06-27-17, 06:10 AM

Right on... Bitstamp is very good but they also want a lot of info aLa CB.(comes at the cash out stage)

I'm afraid the new rules point to heavy verification. One just has to succumb. GDAX #1, free daily ACH withdraws and low to no commissions + being a US company AND Bitstamp, safe, licensed, and busy.(negs are high commission and rather high transfer fees)

MeanPeopleSuck · 06-27-17, 07:42 AM

Originally posted by RoyBacon

Right on... Bitstamp is very good but they also want a lot of info aLa CB.(comes at the cash out stage)

I'm afraid the new rules point to heavy verification. One just has to succumb. GDAX #1, free daily ACH withdraws and low to no commissions + being a US company AND Bitstamp, safe, licensed, and busy.(negs are high commission and rather high transfer fees)

All good points, Roy. I didn't know Bitstamp had beefed up its verification, but on the upside, if it's only during cash out, there's other, easier ways to get your money with little or no verification at all, a V I S A debit card from Bitpay.com being my favorite.

Also, there's one (IMHO) massive drawback to trading at Coinbase/GDAX: they're currently being sued by the IRS for their client records in an ongoing litigation that not enough people here seem to know about: https://www.forbes.com/forbes/welcom...www.google.nl/

The IRS gaining access to my trading records would cause me, um, anxiety. I closed my CB account about 10 seconds after the IRS filed suit.

Memento · 06-27-17, 08:27 AM

ETH volume will continue to be higher than BTC this week as everyone buys ETH and then immediately exchanges it for EOS tokens. It will be interesting to see how things shake out next Monday when Bitfinex allows EOS trading after phase 1 of the ICO is complete. EOS literally draining the pool right now.

firekillex · 06-27-17, 02:02 PM

anybody into IOTA ? competing with DASH supposedly , reading some good things

RoyBacon · 06-27-17, 02:16 PM

Originally posted by MeanPeopleSuck

All good points, Roy. I didn't know Bitstamp had beefed up its verification, but on the upside, if it's only during cash out, there's other, easier ways to get your money with little or no verification at all, a V I S A debit card from Bitpay.com being my favorite.

Also, there's one (IMHO) massive drawback to trading at Coinbase/GDAX: they're currently being sued by the IRS for their client records in an ongoing litigation that not enough people here seem to know about: https://www.forbes.com/forbes/welcom...www.google.nl/

The IRS gaining access to my trading records would cause me, um, anxiety. I closed my CB account about 10 seconds after the IRS filed suit.

ANY of the exchanges that are "licensed" will be subject to reporting requests from all official sources.

I just assume everything is tracked and I'll pay taxes accordingly.

Just started using the Bitpay card. It's great but they took a SS number when I applied.

I would forget the tax angle and go for super low commissions and very very safe exchanges.

raiders72001 · 06-27-17, 03:00 PM

New coins https://coinmarketcap.com/new/

jjgold · 06-27-17, 04:44 PM

I don't think we're close where the exchanges will be sending W-2 forms to the government

I think Forex trading is not reported to the government

Snowball · 06-27-17, 04:48 PM

Originally posted by jjgold

I don't think we're close where the exchanges will be sending W-2 forms to the government

I think Forex trading is not reported to the government

capital gains is capital gains, forex is no different than other trading
it is reported - and so will crypto eventually - soon anything over 10k
will be reported and then up to them, who knows
i'm sure you've read the latest Senate bill ?

jjgold · 06-27-17, 06:54 PM

There's a difference with capital gains and having $10,000 or more in an exchange, just because you have saved 50,000 in a bit coin exchange you don't have to pay taxes on that and less it was some sort of profit and the exchange sends to government a W-2 or whatever form it's called

GunShard · 06-27-17, 07:05 PM

The rumors of the co founder of Ethereum being dead dropped the prices.
Let's say he did die. Does Ethereum not work anymore after his death?

jjgold · 06-27-17, 07:27 PM

That was a bizarre story about that guy no idea how he can control the price

RoyBacon · 06-27-17, 08:19 PM

Originally posted by jjgold

There's a difference with capital gains and having $10,000 or more in an exchange, just because you have saved 50,000 in a bit coin exchange you don't have to pay taxes on that and less it was some sort of profit and the exchange sends to government a W-2 or whatever form it's called

That's true it will not be reported. Butttttt, the IRS has many other ways to track the movement of US dollars. If the exchange sent you a wire the IRS knows about it.

The only real way to defer reporting a btc gain, or not reporting at all, is to not use the US dollar. If you do use the US dollar then the only way to keep the IRS in the dark is to leave it in the exchange. Once it moves via wire there is a trace right to your doorstep.

Even a routine audit would require you to present all your bank and financial account records. An ole boy could wind up with multiple criminal indictments trying to hide btc activity. I doubt any of us are smart enough to pull it off.

cornmeal · 06-27-17, 08:41 PM

raiders or memento
do you guys know if u.s. residents will be allowed to buy EOS once it starts trading ?

jjgold · 06-27-17, 09:23 PM

Kracken took 2 months to verify

Chief Wahoo · 06-27-17, 09:35 PM

Originally posted by firekillex

anybody into IOTA ? competing with DASH supposedly , reading some good things

Sorry I'm new to this. How can you buy this and where can I see how it's trading? Thanks!

firekillex · 06-28-17, 12:57 AM

buy bitcoin on coinbase, send to bitfinex and buy there.. i like the future outlook for IOTA the more research i do

JAKEPEAVY21 · 06-28-17, 08:55 AM

How can we buy TEZOS?

I see there's a fundraiser scheduled on July 1st.

chico2663 · 06-28-17, 10:38 AM

i signed up to bitstamp a week ago. how long does it take

biggie12 · 06-28-17, 12:07 PM

Originally posted by JAKEPEAVY21

How can we buy TEZOS?

I see there's a fundraiser scheduled on July 1st.

Could be wrong but i think min investment is 20k

cornmeal · 06-28-17, 12:14 PM

bittrex tough exchange to navigate
im not the sharpest with these exchanges as it is, but this exchange not very user friendly

firekillex · 06-28-17, 12:20 PM

just watch a 20 min youtube video, itll explain it all in depth then its actually easy to use once you see the few steps
just transfer bitcoin then go to exchange , videos will show the rest easier to see with your own eyes how to do with a step by step huide

BrickJames · 06-28-17, 12:25 PM

Page not found – WagerKey

http://www.wagerkey.com/2017/06/28/imf-publishes-report-detailing-regulatory-recommendations-for-the-cryptocurrency-industries/

Interesting article detailing some of the crypto regulatory recommendations.

RoyBacon · 06-28-17, 12:59 PM

Chico I'll tell you about Bitstamp. It took me 2 weeks to be approved. Then I moved coins from Coinbase, sold them and requested a wire. They asked for more info which I provided. Another 2 weeks. Had one last info request on a large wire. I was doing arb trading so a lot of money was moving. After that request I've never had any more contact...super smooth.

On Bitfinex... not a joint for the faint of heart. They stopped all wires a few months ago due to US corresponding banks refusing to facilitate the wires. That's very serious. But I don't think they are in any trouble. Not long ago they raised $50m from Bnktothefuture.

Don't forget about GDAX. Much better than either option above.