Bitcoins/Litecoins/Virtual Currencies

Haus

Haus

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I think I just set a new high watermark for how much of a clueless middle aged white guy I truly am.

I've been researching the idea of putting some assets into Cryptocurrency as a hedge against what I think will be an upcoming market correction (my unverifyable "gut" is telling me a 40%-50% correction before the end of this year) and I have been seeing some very compelling discussions about crypto being a virtual version of other "hard assets". (i.e. it's the millennial version of "gold bugs")

So I look around and see articles saying that for the true completely inexperience novice (me in a nutshell) Coinbase is a good starting point, but with slightly higher fees. So I go to coinbase to take a look, figure I will create an account and look around. I click on log in and... wait... lastpass filled in an account name.

Turns out I have a coinbase account already...

Turns out I did experiment in the past (3/19)..

Turns out I bought $150 in BTC then... (thinking back I think it was the proceeds from a decent Poker night with some friends, which I had completely forgotten about)

Turns out I have around $2k in crypto already.

I'm an old.... who just found $2000 in the virtual couch cushions of the interwebs.
 
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Sanrith Descartes

Sanrith Descartes

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Everything says PLAID is "safe". Fuck them, I dont trust anyone with my bank log in info. I thought Gemini was the traditional 2 shitty little deposits to verify the bank thing but apparently it isnt. So my choice is wire or debit card.
 
Sanrith Descartes

Sanrith Descartes

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Omayga said:
i have read the bank account verification on Gemini is pretty intense, where they have to log in to your online bank account

is that the process that you did or is there a way around that?
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I refused to use PLAID. I have a number of accounts, the main one is never associated with any online transactions. I just move money to the smaller transaction accounts as needed, I use this as a firewall. I might go the debit card route on one of my smaller bank accounts. Paying for a $20 wire isn't high on my list.
 
Arden

Arden

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Haus said:
I've been researching the idea of putting some assets into Cryptocurrency as a hedge against what I think will be an upcoming market correction (my unverifyable "gut" is telling me a 40%-50% correction before the end of this year) and I have been seeing some very compelling discussions about crypto being a virtual version of other "hard assets". (i.e. it's the millennial version of "gold bugs")
Click to expand...

You aren't alone dude. Listed German Cannabis Firm to Buy Bitcoin, Slates Euro and USD

I'm feeling better and better about my late btc entry.
 
fris

fris

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Anyone sign up for Coinbase's ETHs 2.0? I didn't read details but I assume this is something related to proof of stake
 
Caliane

Caliane

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no. I see rocketpool hyped for Eth 2.0 staking, so leaning that atm.

www.rocketpool.net

Rocket Pool - Decentralised Ethereum Staking Protocol

Your friendly decentralised Ethereum staking protocol
www.rocketpool.net www.rocketpool.net


well I mean, i suppose no reason to not join the "waiting list", so yeah, signed up. I'll decide later which to use.

you can stake eth on kraken already. "+ 5-17%*" I've heard current is around 7%, so don't take krakens 5-17% as indicating it will reward more.
coinbase saying up to 7.5% is probably just because thats the current rate, while 17% is what you could have gotten 2 years ago when kraken started it.
 
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LachiusTZ

LachiusTZ

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ETH 2.0 staking decreases as more people do it.

Basically, if you aren't a mega miner now, you prolly won't be doing that either
 
Brad

Brad

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Sanrith Descartes said:
Everything says PLAID is "safe". Fuck them, I dont trust anyone with my bank log in info. I thought Gemini was the traditional 2 shitty little deposits to verify the bank thing but apparently it isnt. So my choice is wire or debit card.
Click to expand...
Is Plaid the third party that asks for login when you transfer money to an exchange and then send an SMS code to execute the transfer as security?

We have a similar thing in Australia called Poli.
 
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Rangoth

Rangoth

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Ahh, just figured out the PI problem I was having. Correct if I sign up via the link you would be a "contact" and in my security circle thus increasing my pi rate, but if you are not the original link and I got "add upi user to my security circle" it apparently only shows people in my contacts list.

So...is there a way to add someone to my security circle once I'm already signed up? Either by user name, email, or phone number? If so I would PM share that with others doing this as I think it increases the rate for all of us.
 
swayze22

swayze22

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Coinbase is taking like a week to let me send BTC to my Kraken account after I funded it so i can buy alt coins. All these places want all my info and pictures of my face and my IDs. What in the fucking world is this shit? All this is far more pervasive than any normal investment account/brokerage.
 
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Sanrith Descartes

Sanrith Descartes

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Brad said:
Is Plaid the third party that asks for login when you transfer money to an exchange and then send an SMS code to execute the transfer as security?

We have a similar thing in Australia called Poli.
Click to expand...
Not sure about the SMS, but you give Plaid your online bank log in and it uses the info to verify with the 3rd party its your bank. Supposedly they are 100% safe. I don't care. Legally if Plaid gets hacked or your info ends up being used to log into your bank and rob you blind your bank isn't going to do shit for you. No one ever gets that info from me.
 
Sanrith Descartes

Sanrith Descartes

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swayze22 said:
Coinbase is taking like a week to let me send BTC to my Kraken account after I funded it so i can buy alt coins. All these places want all my info and pictures of my face and my IDs. What in the fucking world is this shit? All this is far more pervasive than any normal investment account/brokerage.
Click to expand...
It's so the Feds can tax your ass. Also to prevent money laundering. Try opening a business checking account at a bank these days. Its an anal probe of paperwork and IDs.
 
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Lambourne

Lambourne

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What exactly is the problem with wire transfers in the US? You're not all still mailing around paper checks like 25 years ago I hope?
I used a Euro wire transfer to fund my Kraken account and it was processed the same day.
 
Brad

Brad

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Rangoth said:
Ahh, just figured out the PI problem I was having. Correct if I sign up via the link you would be a "contact" and in my security circle thus increasing my pi rate, but if you are not the original link and I got "add upi user to my security circle" it apparently only shows people in my contacts list.

So...is there a way to add someone to my security circle once I'm already signed up? Either by user name, email, or phone number? If so I would PM share that with others doing this as I think it increases the rate for all of us.
Click to expand...

No,. those who signed up won't be in your security circle, you have to add them. When someone accepts your invite, they go to your earning team as marked in the red circle.

IMG_0305.PNG


To add people not in your contacts, click the "Add an existing Pi User". Those in your earning team are existing Pi users, and then click the add button!

IMG_0306.PNG

IMG_0307.PNG


You get max security earning bonus when five people are mining at the same time, it pays to have more than five, so when you have ten people and three of them are not mining, you still have seven doing the mining and thus hit the max bonus of five miners in your security team.

The other bonus is those who are mining in your earning team, all the miners counts in that team while in security circle, only five current miners are needed.
 
LachiusTZ

LachiusTZ

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So how the fuck do I actually buy these alt coins without taking a mouth fucking in transfer fees?

Wire shit into kraken?
 
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Aaron

Aaron

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Once in a while I get a desire to check out Crypto, but then I look into it further, including checking out this thread where I read about exchanges taking 30% transaction fees, wanting your bank loggin details and shit like that and I nope the fuck out. I must be missing something here?

As with others who have posted, I feel like a major correction is in the works, and possible a large inflation spike. I've been thinking of hedging my options and putting $2-4k into a basket of crypto (mainly BTC and Etherium, but some in Doge, Lite and others) with the intention of buying to hold (for a year or more, until I need it). I can't be arsed to check prices 5x a day, buying and selling to try and maximize profits.

What do you guys recommend? Also, I'm a EuroBro, so some of this weird shit like linking to bank accounts (which I'd never do) prolly wouldn't work anyway. Also, is there no "simple" way to buy and sell crypto, such as PayPal or some shit?
 
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TheBeagle

TheBeagle

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Aaron said:
Once in a while I get a desire to check out Crypto, but then I look into it further, including checking out this thread where I read about exchanges taking 30% transaction fees, wanting your bank loggin details and shit like that and I nope the fuck out. I must be missing something here?

As with others who have posted, I feel like a major correction is in the works, and possible a large inflation spike. I've been thinking of hedging my options and putting $2-4k into a basket of crypto (mainly BTC and Etherium, but some in Doge, Lite and others) with the intention of buying to hold (for a year or more, until I need it). I can't be arsed to check prices 5x a day, buying and selling to try and maximize profits.

What do you guys recommend? Also, I'm a EuroBro, so some of this weird shit like linking to bank accounts (which I'd never do) prolly wouldn't work anyway. Also, is there no "simple" way to buy and sell crypto, such as PayPal or some shit?
Click to expand...
There's so much shady shit surrounding all of this crypto stuff that I'm amazed people are giving all of these previously unknown, never-heard of apps/websites money/routing #'s/login info. To me it feels like the Nigerian prince scammers just got a lot more sophisticated for a new generation of retards.
 
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Sanrith Descartes

Sanrith Descartes

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TheBeagle said:
There's so much shady shit surrounding all of this crypto stuff that I'm amazed people are giving all of these previously unknown, never-heard of apps/websites money/routing #'s/login info. To me it feels like the Nigerian prince scammers just got a lot more sophisticated for a new generation of retards.
Click to expand...
That is the one thing that led me to choose Gemini (I still havent funded the account, just opened it). They are located in NYC and follow NY financial laws and regs (for good and ill).
 
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