Bitcoins/Litecoins/Virtual Currencies

Arden · May 23, 2022

Edaw said:
View attachment 413634

Bitcoin Pizza Day: a Tribute to the Historic BTC Transaction

May 22 or Bitcoin Pizza Day marks one of the biggest regrets in cryptocurrency history.

dailycoin.com

pwe said:
How would you guys go about buying Bitcoins for your own wallet? What is the easiest, but still cheap, way?

(just playing with some pocket change I can afford to lose)

Binance is the cheapest out there afaik. That's what I use, but it's been a minute.

Just keep in mind you have to use Binance.us if you are stateside. The larger Binance site doesn't operate in the US

Tmac · May 23, 2022

pwe said:
How would you guys go about buying Bitcoins for your own wallet? What is the easiest, but still cheap, way?

(just playing with some pocket change I can afford to lose)

Buy in Coinbase Pro and then transfer to your wallet.

Flobee · May 23, 2022

Arden said:
Binance is the cheapest out there afaik. That's what I use, but it's been a minute.

Just keep in mind you have to use Binance.us if you are stateside. The larger Binance site doesn't operate in the US

For Bitcoin, Strike is charging literally $0 in fees. Binance is not a company I would trust personally. If you're just looking for Bitcoin, go with a Bitcoin only company. Strike, SwanBitcoin, BullBitcoin, all good places to buy. Bull will help you learn to self custody if you're looking to figure that out as well. Avoid altcoin casinos (Coinbase, Binance, Kraken, Gemini, FTX, etc) unless you're looking to play that game.

P pwe See below post for more information on self custody if you're interested in that

Bitcoins/Litecoins/Virtual Currencies

www.firesofheaven.org

pwe · May 23, 2022

Thanks guys, I'll look into it.

Tmac · May 23, 2022

pwe said:
Thanks guys, I'll look into it.

If you're going to be immediately moving your coins off an exchange places like Coinbase are 100% fine and typically have a better user experience. I would avoid Binance and other lesser known exchanges as they can have ridiculous fees. I recommend Coinbase Pro > Coinbase bc their fees are smaller, but the user experience is more geared towards stonks.

It really doesn't matter where you buy as long as the fees are low and you're going to be moving it to a wallet.

Arden · May 23, 2022

Tmac said:
If you're going to be immediately moving your coins off an exchange places like Coinbase are 100% fine and typically have a better user experience. I would avoid Binance and other lesser known exchanges as they can have ridiculous fees. I recommend Coinbase Pro > Coinbase bc their fees are smaller, but the user experience is more geared towards stonks.

It really doesn't matter where you buy as long as the fees are low and you're going to be moving it to a wallet.

Binance is the biggest exchange in the world afaik, and the cheapest

Flobee · May 23, 2022

Arden said:
Binance is the biggest exchange in the world afaik, and the cheapest

I'll reiterate that if buying Bitcoin this is not true. Binance does not charge 0 fee. To my knowledge Strike is the only place to buy BTC with no fee, thus is the cheapest. If you're talking about the casinos then that very well may be true

Arden · May 23, 2022

Flobee said:
I'll reiterate that if buying Bitcoin this is not true. Binance does not charge 0 fee. To my knowledge Strike is the only place to buy BTC with no fee, thus is the cheapest. If you're talking about the casinos then that very well may be true

I was replying to Tmacs post, so I wasn't talking about exclusively Bitcoin. I'm not challenging your Bitcoin knowledge, don't worry. I'm sure you know more than me

Onoes · May 23, 2022

Apparently my wife bought some Bitcoin on Binance forever ago, before it was seperated into US. and non US. and now she can't access it. I'm sure there's a way to transfer that or something, but yeah, we'll have to figure it out. She's pretty sure it was like .25 of a coin, so should be several thousand in there at least. Free money!

Flobee · May 23, 2022

Onoes said:
Apparently my wife bought some Bitcoin on Binance forever ago, before it was seperated into US. and non US. and now she can't access it. I'm sure there's a way to transfer that or something, but yeah, we'll have to figure it out. She's pretty sure it was like .25 of a coin, so should be several thousand in there at least. Free money!

I believe you can do this with a VPN outside the US, but I've not tried it

Jackie Treehorn · May 23, 2022

Onoes said:
Apparently my wife bought some Bitcoin on Binance forever ago, before it was seperated into US. and non US. and now she can't access it. I'm sure there's a way to transfer that or something, but yeah, we'll have to figure it out. She's pretty sure it was like .25 of a coin, so should be several thousand in there at least. Free money!

I have a friend who was in this same situation. I’ll see if I can find out how he did it. I think he may have done the VPN thing as mentioned.

Rajaah · May 23, 2022

Jackie Treehorn said:
I have a friend who was in this same situation. I’ll see if I can find out how he did it. I think he may have done the VPN thing as mentioned.

I'm in that situation too. Pretty sure I bought $10 of Bitcoin back in 2013. Wanted to get $100 but my GF at the time talked me out of it and said it was akin to setting money on fire. I'm like 70% sure I went ahead and dropped a zero and got $10 as a lark. Problem is, I've used a ton of email addresses over the years for all kinds of stuff, so it'd take a while to go through all my email addresses, getting back into them, figuring out if they have a Coinbase account, and getting into that if they do. At least I know it was Coinbase that I had at the time. If I'm right, I'll basically be finding like $1200 in the couch cushions. I'll get around to it one of these months. I just hope Coinbase accounts don't disappear after a while.

Flobee said:
For Bitcoin, Strike is charging literally $0 in fees. Binance is not a company I would trust personally. If you're just looking for Bitcoin, go with a Bitcoin only company. Strike, SwanBitcoin, BullBitcoin, all good places to buy. Bull will help you learn to self custody if you're looking to figure that out as well. Avoid altcoin casinos (Coinbase, Binance, Kraken, Gemini, FTX, etc) unless you're looking to play that game.

P pwe See below post for more information on self custody if you're interested in that

Bitcoins/Litecoins/Virtual Currencies

www.firesofheaven.org

Any suggestions for companies to stash Bitcoin that offer generous interest on it? BlockFi is around 7% APR on any Bitcoin you stash there, IIRC. Since I'm just accumulating and not trading, I was thinking about stashing all my BTC somewhere interest-generating for 2-3 years (till the Time Of The Halving) and getting an extra 20% on it.

Jackie Treehorn · May 23, 2022

I swear I remember buying some Bitcoin as a novelty in 2011-2012 era too and last year I tried to find evidence of it, but nada. I could be making it up in my head. Wouldn’t have been more than $10-100 worth. If I had a wallet for it, it would have been lost a loooong time ago on a variety of crashed hard drives.

Flobee · May 23, 2022

Rajaah said:
Any suggestions for companies to stash Bitcoin that offer generous interest on it? BlockFi is around 7% APR on any Bitcoin you stash there, IIRC. Since I'm just accumulating and not trading, I was thinking about stashing all my BTC somewhere interest-generating for 2-3 years (till the Time Of The Halving) and getting an extra 20% on it.

I was using Blockfi for a while, however they got their ability to provide interest on crypto for US residents revoked. I could have been grandfathered in due to already having the coins in the account, but I decided that wasn't a good sign for their future and pulled out. I never held BTC there though, just stablecoins. This business model is doomed I believe... relies too heavily on rehypothecation which won't end well due to the nature of how blockchains work.

You can probably find someone to give you interest on BTC (maybe try Ledn I've heard they're straight shooters) but just keep in mind, not your keys, not your coins. They have no real legal obligation to return your coins and given what BTC is I'd argue its not worth it. Wherever you choose to store those coins may not even exist by the next halving

Arden · May 24, 2022

Take it for what you think it's worth, but crypto has been holding surprisingly steady since the initial drop. It has noticeably outperformed the NASDAQ over the last week. Normally, if the NASDAQ drops, crypto drops 3x or 4x more. NASDAQ has continued to drop and crypto has been a relatively flat line.

Rajaah · May 24, 2022

Arden said:
Take it for what you think it's worth, but crypto has been holding surprisingly steady since the initial drop. It has noticeably outperformed the NASDAQ over the last week. Normally, if the NASDAQ drops, crypto drops 3x or 4x more. NASDAQ has continued to drop and crypto has been a relatively flat line.

Yeah, I'm impressed that it's hanging tough. Had a buy set for .63 MATIC and it triggered somewhere, but it seems to be holding up in the high .60's since then. Thought I had the buy set too high, but evidently it was just right. I think we're in for more ups and downs but between this and Bitcoin bouncing off those high 20's supports, I think we're doing fine. The accumulation phase is gonna be a big one and the next ATH is going to be huge.

Unless the economy collapses on us which is a daily worry, but if that happens I'll be too busy making sure my food supplies are stocked to spend much time thinking about crypto.

Tmac · May 25, 2022

Arden said:
Take it for what you think it's worth, but crypto has been holding surprisingly steady since the initial drop. It has noticeably outperformed the NASDAQ over the last week. Normally, if the NASDAQ drops, crypto drops 3x or 4x more. NASDAQ has continued to drop and crypto has been a relatively flat line.

?

Bitcoin started it's consolidation on May 12 and is the same price today as it was then...

The QQQ tried to break away from the bear on May 12, but is the same price today as it was then...

So, I mean, they're still doing the same thing. I guess it's just easier to see it with BTC.

Ranak · May 25, 2022

Anyone heard of Giddy (Grow Your Crypto - Giddy)? Saw it at Permissionless last week (had a legit booth with an actual Delorean). They're developing a DeFi app for summer release for one-tap staking. Sounds promising, but not my wheelhouse typically, though they do have VC and angel funding including the Traeger Grills CEO. I signed up for their app (Giddy) and am in line for release this summer (looks like first 20k on list get a free NFT that will have actual utility in the app in free/reduced transaction fees etc.).

They released their token last month and are allowing people to stake certain coins (WETH, WBTC, WMATIC, AAVE, USDC, DAI etc.) on the Polgyon network (low gas fees) to earn free Giddy coin for the next 300+ days with no lock-ups. Thinking about throwing some money at it or at least moving some un-staked crypto over to get some of their coin for free for staking. They have an active discord (Join the GiddyDefi Discord Server!) with some good info as well as their Litepaper (Giddy Coin Litepaper - Giddy) and dApp (Giddy Coin) for staking.

I've maxed out my I-Bonds and am not putting money in the markets right now, so if their app launches and I can stake USDC and get 8-10% interest...yeah I'm in. Bringing DeFi for the masses would be huge if they can pull it off and the team looks legit and an actual use-case for a coin unlike all the other shill/poocoins out there. Appreciate any insight anyone may have on this one.

Arden · May 25, 2022

Tmac said:
?

Bitcoin started it's consolidation on May 12 and is the same price today as it was then...

View attachment 414040

The QQQ tried to break away from the bear on May 12, but is the same price today as it was then...

View attachment 414041

So, I mean, they're still doing the same thing. I guess it's just easier to see it with BTC.

I said "over the last week", not since May 12. When I posted that, BTC was up about 4% over the previous 5 days and QQQ was down 1%.

Flobee · May 25, 2022

Ranak said:
Anyone heard of Giddy ...

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