Coinbase is the largest option. I actually like Gemini's fee structure and website responsiveness better. Less trade volume though.
Will the crypto currency market cap exceed $100Billion before 2018
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Last: 2 yr ago by administrative errors
Nah
I've spread the love between Coinbase and Gemini.
Coinbase: I'm verified, but can't fund because their CC is down.
I'm on day 2 of waiting for Gemini to verify my identity so I can bank/wire transfer.
Coinbase: I'm verified, but can't fund because their CC is down.
I'm on day 2 of waiting for Gemini to verify my identity so I can bank/wire transfer.
It took me a few days as well to get verified there. Once that occurred everything moved pretty fast.
So I've finally started watching Bitcoin and at least acknowledging its existence in the world for approximately the past 2 weeks. The chance of me ever "investing" (if you call it that; I'm still not sure what this really is) is <1%. If it truly becomes the global currency at some point, then sure I'll be using it. I invest solely in index funds, don't have a penny invested directly in any single stock, and steer clear of any type of speculation as far as investing actual money is concerned. Regardless, I find speculative ventures fascinating and crypto currency has finally peaked my interest after completely ignoring it for many years.
With that said, is there any logical explanation you can point me to that explains Bitcoin's run up from ~$1700 when I started watching it around 2 weeks ago to ~$2400 today? It was already "high" when I started watching it (but how do you even assess its value when there's no "assets", projected future cash flow, etc; so who am I to say it's "high"). Obviously its value is what two parties are willing to exchange it for on the open market, but if you're going to buy something, you have to be able to have some way to make a technical assessment before the purchasing it (or be willing to admit you're just throwing money at it with no regard for return on your money). How do people who are "investing" in this provide any justification for it's value?
I've scanned this thread and there's some answers, but not really satisfying. If I'm truthful, there probably is not an answer that will satisfy me on this one. It just seems very bizarre/fascinating.
As one poster said, I wish I had bought $100 of Bitcoin in college when I first heard about it, and would be worth millions today. That said, I see zero justification for buying $100 today.
With that said, is there any logical explanation you can point me to that explains Bitcoin's run up from ~$1700 when I started watching it around 2 weeks ago to ~$2400 today? It was already "high" when I started watching it (but how do you even assess its value when there's no "assets", projected future cash flow, etc; so who am I to say it's "high"). Obviously its value is what two parties are willing to exchange it for on the open market, but if you're going to buy something, you have to be able to have some way to make a technical assessment before the purchasing it (or be willing to admit you're just throwing money at it with no regard for return on your money). How do people who are "investing" in this provide any justification for it's value?
I've scanned this thread and there's some answers, but not really satisfying. If I'm truthful, there probably is not an answer that will satisfy me on this one. It just seems very bizarre/fascinating.
As one poster said, I wish I had bought $100 of Bitcoin in college when I first heard about it, and would be worth millions today. That said, I see zero justification for buying $100 today.
It's hard to explain any specific price point. The only thing that makes sense to me is demand is going up faster than the coins can be mined. The reason for that demand is multi-faceted. My guesses for top reasons in order:
- Hype/price increases beget more price increases (bubble behavior)
- Desire to get out of inflationary currency
- Desire to have anonymous transactions due to government restrictions (China) or wanting to do something shady (USA, Europe, etc)
- True believers who think it's the future of currency
Nah
Thanks. From my perspective, that seems to explain price movements of crypto currency in general.GarlandAg2012 said:
It's hard to explain any specific price point. The only thing that makes sense to me is demand is going up faster than the coins can be mined. The reason for that demand is multi-faceted. My guesses for top reasons in order:
- Hype/price increases beget more price increases (bubble behavior)
- Desire to get out of inflationary currency
- Desire to have anonymous transactions due to government restrictions (China) or wanting to do something shady (USA, Europe, etc)
- True believers who think it's the future of currency
What explains the difference in price movement (sometimes drastic difference over extremely short time periods) of two crypto currencies (e.g. Bitcoin and Ethereum). From what I've seen there's almost no correlation between the two currencies. What's the underlying value of one over the other?
If the price is based on the above 4 factors you mentioned, it would seem there's some serious arbitrage opportunities out there.
I'm not sure how comfortable I am with giving Gemini my banking log in as well as my social security number?
Nah
Nah
Nah
Chill. Out.
We'll hell, I was going to use CC for purchase through CoinBase but it's a 3.75% fee.
Those using Gemini, you didn't have any worries about basically giving them all your personal info? ID, SS #, bank log in info, etc
Those using Gemini, you didn't have any worries about basically giving them all your personal info? ID, SS #, bank log in info, etc
Sure it was a little concerning but I decided it was worth it. I didn't provide bank log in info because my bank isn't supported. You can just wire money and verify that way if you want.
CoinBase just started working for me, did bank log in and all that was required was uploading a copy of my ID. I believe I'm ready to make a purchase
Wheels or garland,
I have a few real quick questions that I'll gladly give you a few bucks for your time if either of you are willing. Email edited
I have a few real quick questions that I'll gladly give you a few bucks for your time if either of you are willing. Email edited
Nah
Nah
you can email me at my handle at gmail if you want.
wheelskjm said:
Did you know elon musk is putting 45k satellites in space soon to provide global internet, and act as a backbone for ISP's?
Does that shake your core that the world will be on the internet almost instantly?
Is it a good time to buy? Dumb/weak question, do your own research.
Did you also know Musk is building a hyper loop, underground roadways in major cities
and will be colonizing Mars within 5 years?!?!
For one, it's only 4K, not 45k satellites according to the article I read. It also said the earliest would be 2019 if everything goes to plan, which we all know won't happen ie Tesla.
Elon Musk says a lot of things. I wouldn't put much into what he says. If it happens, that is awesome, but I wouldn't count on it. And, hasn't Zuckerberg been working on a universal internet already for a couple years?
Plus the stock market is already accessible by Internet..
Wow, Vitalik Buterin is an avid poster on r/ethereum and r/btc.
Including this post detailing his ETH holdings:
Including this post detailing his ETH holdings:
Worth $122,037,900 today.Quote:
I received ~553,000 in the genesis premine and ~150,000 from the developer purchase program. I currently hold ~630,000 ETH.
wheelskjm said:
Look at your net worth.
Caculate 1% of NW
Invest 1% in cryptocurrencies, or less, whatever you wanna do. Take $5 you didn't spend on that next crap purchase and spend it on educating yourself on how to get crypto.
I think you should all subscribe to epicenter on YouTube as they interview all the heads of all these different projects. Great resource for insights.
I just can't help it.
I know a billionaire hedge fund owner who had the same advice about investing in silver coins, I.E. 1% of your salary as a hedge against the Apocalypse.
Nah
Let me ask this.
Supposedly the bitcoin founder Satoshi has around 1m bitcoins. Assuming that he does not buy/sell/mine any more bitcoins, with a 21m total limited supply of bitcoins he will own about 5% of the total bitcoin supply.
If bitcoin does become the global currency, one person would own 5% of the world's currency.
A quick google search suggests that there's currently approximately $60 trillion dollars of total currency in the world.
Satoshi would own about $3 trillion of the world's $60 trillion (to put it in $ terms).
How is this viable?
Supposedly the bitcoin founder Satoshi has around 1m bitcoins. Assuming that he does not buy/sell/mine any more bitcoins, with a 21m total limited supply of bitcoins he will own about 5% of the total bitcoin supply.
If bitcoin does become the global currency, one person would own 5% of the world's currency.
A quick google search suggests that there's currently approximately $60 trillion dollars of total currency in the world.
Satoshi would own about $3 trillion of the world's $60 trillion (to put it in $ terms).
How is this viable?
Nah
wheelskjm said:GiGeMaGs11 said:
Let me ask this.
Supposedly the bitcoin founder Satoshi has around 1m bitcoins. Assuming that he does not buy/sell/mine any more bitcoins, with a 21m total limited supply of bitcoins he will own about 5% of the total bitcoin supply.
If bitcoin does become the global currency, one person would own 5% of the world's currency.
A quick google search suggests that there's currently approximately $60 trillion dollars of total currency in the world.
Satoshi would own about $3 trillion of the world's $60 trillion (to put it in $ terms).
How is this viable?
1. Should the person who created the most innovative tech I'm existence make a profit, and how much is "okay"
2. Are you okay with the world's richest 1% comprising about 99% of global wealth?
Quote:
Oxfam also calculated that the richest 62 people in the world had as much wealth as the poorest half of the global population.
It criticised the work of lobbyists and the amount of money kept in tax havens.
Oxfam predicted that the 1% would overtake the rest of the world this time last year
3. There's no guarantee that satoshi has control of any of those monies. Most likely they are dead coins. If you believe that Craig Wright is satoshi, that's what he says happened.
4. If/when those coins move, and everyone will see them move, it will be a ****ing huge event in world history or at least the last decade. If you read satoshi's white paper, the whole concept is to bring truth to the markets by providing actual free markets that aren't manipulated by banks at the expense of the layman.
5. How much wealth should one have? How can you redistribute wealth to make it more "fair"? If you could, would you redistribute satoshi's wealth how would you do it "fairly"?
Other news bitcoin is at $4500 in south korea exchanges. India exchanges are overburdened. Signups everywhere are slow. If you're trying to get btc fast you're probably going to need to use local bitcoins.
Settle down buddy.
I'm not talking about what is "fair". Anyone is welcome to obtain as much wealth as they legally can.
What I'm talking about is the viability of a modern day world functioning where a single person controls 5% of its entire currency. That's not "1%" (which is an extremely large number of people). That's one person.
Maybe it's not a big deal. But at this time I certainly fear the power of one person controlling 5% of the world's currency.
Maybe he doesn't have that much, as you say. I'm just postulating.
Anyone else see the irony in valuing a cryptocurrency in fiat currency?RangerRick9211 said:
Wow, Vitalik Buterin is an avid poster on r/ethereum and r/btc.
Including this post detailing his ETH holdings:Worth $122,037,900 today.Quote:
I received ~553,000 in the genesis premine and ~150,000 from the developer purchase program. I currently hold ~630,000 ETH.
Nah
Nah
1) How could this disturb my belief when it's already common knowledge?wheelskjm said:
Oxfam also calculated that the richest 62 people in the world had as much wealth as the poorest half of the global population
Does this knowledg disturb your belief in the existing system or make it stronger?
2) How does this relate to a single person owning 5% of the global currency, which is probably many multiples more than any other single person owns?
Tell me you aren't naive enough to believe market manipulation will cease to exist. <laugh/cry> x a billionwheelskjm said:
4. If/when those coins move, and everyone will see them move, it will be a ****ing huge event in world history or at least the last decade. If you read satoshi's white paper, the whole concept is to bring truth to the markets by providing actual free markets that aren't manipulated by banks at the expense of the layman.
So bitcoin is down ~10% in the last hour. This thing is so volatile it's crazy.
Nah
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