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bitcoins
- Thread starter enki
- Start date
Entoptic
Red Power!
Congrats and welcome to the team! What platform are you buying and trading with?
afm199
Well-known member
GBTC is an ETF traded on ARCA ( basically it's just another ETF that anyone who has a brokerage account can buy).
I'm not particularly interested in pursuing this too much further. I played the volatility, not the ETF. If they had options I'd be buying puts.
Mike95060
Work In Progress
So massage or ??? with that?
afm199
Well-known member
I think dinner out and a pound of hamburger for the dog will do it.
PS: Anyone thinking that GBTC is a logical trade (it's an ETF tracking Bitcoin) should know that's it's currently trading about 60% above actual asset value.
In other words, it's an incredibly speculative trading vehicle.
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TripleSeven
...
Just hold your coins for a month.
Smash Allen
Active member
imagine a balloon with two openings, in and out
the size of the balloon is the price of btc
'in' is cash into crypto currency
'out' is cash out of crypto currency
'in' is able to scale with input - more people investing, balloon grows
'out' is pinched shut like a tight butthole - everyone wants to leave, but only so many can at once
once the crypto markets take a laxative and loosen the butthole, prices are going to the shitter
disclaimer: i am invested in crypto
the size of the balloon is the price of btc
'in' is cash into crypto currency
'out' is cash out of crypto currency
'in' is able to scale with input - more people investing, balloon grows
'out' is pinched shut like a tight butthole - everyone wants to leave, but only so many can at once
once the crypto markets take a laxative and loosen the butthole, prices are going to the shitter
disclaimer: i am invested in crypto
Schnellbandit
I see 4 lights!
^^^ Shit, now that you puter it that way.
Dirty, man.
My Ledger Nano S is delayed, won't arrive til sometime next week.
Also, scrolling through Amazon, prices have drastically increased for hardware wallets since yesterday. Looks like they're taking a page out of the gold rush outfitters' book: make money selling supplies to the prospectors.
My Ledger Nano S is delayed, won't arrive til sometime next week.
Also, scrolling through Amazon, prices have drastically increased for hardware wallets since yesterday. Looks like they're taking a page out of the gold rush outfitters' book: make money selling supplies to the prospectors.
Entoptic
Red Power!
Don't use Amazon to purchase a ledger. Only buy from official Ledger retailers. On Ledger's website there is a list by country and state. Should have free two day shipping from most places. Heck you can even call and speak to a human!
Watch this is the part where Ledger has already ok'd Amazon and I missed it.
Hm, I hadn't thought about the possibility of counterfeits. I cancelled the Amazon order and went through a vendor from the Ledger site. Thanks for that.
Bowling4Bikes
Steee-riiike!
so..a human. go on....
if it's explained like that...I'm totally out.
Dubbington
Slamdunk Champion
How? You create an account awhile ago? What exchange? It's going to be monday before I'm able to do anything, all these damn exchanges/sites are down, slow, or 'processing'.
I'm also thinking about opening a separate checking account at wells fargo just for crypto.
I have B of A but don't really want to give any of these exchanges full access to them.
jiffy
Member
GBTC is a publicly traded investment trust that you can buy through most investment brokerages. They have Bitcoin, Ethereum Classic, and Zcash trusts.
Coinbase holds your cash in partner banks which are FDIC insured. I wouldn't worry about your bank accounts. Your cryptocurrency is what you need to keep track of and protect.
TripleSeven
...
If you do that it MAY take even longer for verification.
Dubbington
Slamdunk Champion
Well I'm fucked regardless.
Coinbase still can't verify my ID. GDAX (sister of coinbase) is also having verification delays.
Not sure what other exchange to try at this point. Prefer US based to use my new checking account. Don't really want to input SSN into exchanges not in the US...might have to though.
Coinbase still can't verify my ID. GDAX (sister of coinbase) is also having verification delays.
Not sure what other exchange to try at this point. Prefer US based to use my new checking account. Don't really want to input SSN into exchanges not in the US...might have to though.
afm199
Well-known member
Again. It's an ETF. It tracks Bitcoin holdings it has. You can buy ETF at ANY stock broker. You're not buying Bitcoin or any other currency, you're buying an ETF that tracks them. If you have a margin account at Schwab you can buy there.
Hint. It's currently something like 60% above net asset value, which means, to me, it's highly, and I do mean highly speculative. AFAIK it's the only way to access Bitcoin without a special account and through a brokerage. I think another ETF is coming out soon that tracks Futures for Bitcoin.
Actually it appears to be a CEF, kind of like an ETF, trading rules are the same. Restriction on capital are different, there are a fixed number of shares and more are not issued.
Don't worry. You're not going to lose anything, and I suspect within the week the cryptocurrency craze will crater.
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TripleSeven
...
Ive already made trades and i'm also having this verification issue (per my previous posts). It's pretty lame. Support is calling it a "quiz". I called my bank and made sure my address is exactly like it is on my drivers license. I'll see if that eventually irons things out.
This is from Coinbase support, #2 is especially lame, as that can be numerous variations, and you only get a couple attempts per day:
afm199
Well-known member
Checking trading today, it looks like Bitcoin is becoming range bound. That's an early tell for subsiding long interest and a quick downward movement.
Boys, don't be afraid to take some profit. Greed doesn't pay off.
Boys, don't be afraid to take some profit. Greed doesn't pay off.
Entoptic
Red Power!
Historically btc has had a slow Dec/Jan.