Huge BitCoin Learning Experience

[funnyb25]

Price does not enter the coinbase account at the price purchased.

Bought $8k 5 days ago and when it entered my CoinBase account just now it was only $5,900


Amazing!

[hotcross]

you bought a certain amount of Bitcoin, at a higher price than today (I assume)

so today, that same amount of bitcoin is worth a lower $ amount

follow me? same amount (quantity) of bitcoin, that amount did not change.

[shocka1212]

Buy on gdax. You have to technically have the money in your usd wallet but saves you money... also, no fees if you do limit orders

[funnyb25]

you bought a certain amount of Bitcoin, at a higher price than today (I assume)

so today, that same amount of bitcoin is worth a lower $ amount

follow me? same amount (quantity) of bitcoin, that amount did not change.

They pulled $8k out of my bank at time of purchase and now the USD value is only $6k

So if I were to send that to the book I would lose 2k right off the start.

[hotcross]

funnyb yes that is the added build-in gamble with bitcoin

Look at 1) the quantity of bitcoin and 2) the price per bitcoin the day you made the purchase.....

The quantity should be the same as today.

If the price today is lower than on the day you bought it, that's why its worth less $

.....on the other hand you sometimes will get lucky, buy and the price goes up during the time you're waiting for it to get credited to your account. OK I've tried to explain it. The price has fluctuated against you in this case, unfortunately.

[7deuceoff$uit]

it does lock in at the price when u buy it. Btc has been on a big drop the last few days.

[funnyb25]

The amount that was deducted from my bank is over $2k from what became available 5 days later.

Brutal.

[hotcross]

now if you're tuned in you have to decide whether to hold the bitcoin waiting for the market prices to go up, or if you should send it right away to the book before the market price falls any further.

I got lucky a couple days ago and sent some for deposit when it was around 19k peak price.

[funnyb25]

now if you're tuned in you have to decide whether to hold the bitcoin waiting for the market prices to go up, or if you should send it right away to the book before the market price falls any further.

I got lucky a couple days ago and sent some for deposit when it was around 19k peak price.

Blockchain is not currently accepting incoming transfers. The notepad to the right of "request" is gone

[RudyRuetigger]

Bitcoin is a scam

I cannot wait til it fully crashes

[hotcross]

ohhh fukkk yeah that shiiitt adds to the suckage

if you can buy Litecoin with your funds this time/next time, and if your book accepts it....Litecoin is very fast transfers, no hiccups, much cheaper fees to transfer

[shocka1212]

Bitcoin is a scam

I cannot wait til it fully crashes

if I become rich trading crypto, ill buy you a case of Macallan 15..... ease up Rudy.. theres no reason to be wishing people to lose everything.

[JIBBBY]

Yup... Out on bitcoin.. Transfer fees get you too.. Better more secure investments out there.. Pass..

[hotcross]

shocka, what do you think was going on this morning with the crash? I was sitting there watching the computer screen, should of had some limit buy orders in, but as it kept tanking I thought it wasn't gonna stop. After all of that, it rebounds almost all the way back.

All of the crypto coins were following. I just find it hard to believe that EVERY coin on the market was cascading in unison. I mean yeah they gonna follow btc movement in general, but this was massive.

[Otters27]

Funny you just hold for long term. I got in early with bitcoin in May and still manage to penetrate it up. Now I hold ether lite coin and bitcoin but had to rebuy at 11000 475 and 150

[shocka1212]

shocka, what do you think was going on this morning with the crash? I was sitting there watching the computer screen, should of had some limit buy orders in, but as it kept tanking I thought it wasn't gonna stop. After all of that, it rebounds almost all the way back.

All of the crypto coins were following. I just find it hard to believe that EVERY coin on the market was cascading in unison. I mean yeah they gonna follow btc movement in general, but this was massive.

was busy as hell with work today (still am) so I couldn't track it all but it was just a little overreaction to last nights hard correction.. the trend I've seen is, ETH and alt coins moving in unison. money flows out of BTC and into ETH and alt coins and vice versa. Bitcoin cash basically just a safe hedge for people heavily invested in Bitcoin. wouldn't have a sizable position in it to be honest.. maybe about 10% to 60% in btc.. seems like a good ratio to level out on if one seriously tanks.. no one is going to pull out of the space completely Imo. if they take profit, they're rolling into another.

[Fire in da hole]

Yeah, that't the one problem with Bitcoin, you can either win or lose with the volatility.

You assume all risk of the fluctuations in price from the time you purchase to the time you actually receive the coin.

[lakerboy]

Agreed with Rudy

[PAULYPOKER]

Only investors that can win with this kind of volatility in the long run
are the people who became rich with bitcoin from the beginning or
the rich who are buying in now.............

[funnyb25]

Going back up....Prolly just for a few minutes...

[jjgold]

Goes both ways

Funny relax ....


Frankie goes to hollywood (YouTube search)

[funnyb25]

Why is the "receive" note gone from BlockChain?

They are not currently accepting incoming transfers from CoinBase?