Where are my bitcoins CoinBase? SHAPOW!
- Thread starter mGrunin
- Start date
wished it were that simple. problem is, there's been quite a bit of complaints about transactions that were suddenly reneged/cancelled, etc, when it wasn't in coinbase's advantage. (just check the bitcoin forum threads, reddit threads, etc about these incidents. heck, just ggl it).
ideally what they (coinbase) could be doing is to set up same-day ACH transfers/buys&sales. Just charge the $20 extra premium for the privilege, like what my bank normally charges for same-day ACH transfers, or $10 for next day transfers. The 5 day wait/hold would be for the "free" transfers (heck, coinbase already charges a 1% fee per transaction which usually more than covers these fees in any sizeable transactions).
Still no coins from them.
There has been a pretty bad drop in the past 24 hours, I want to direct your attention to the following:
We have witnessed quite the drop but the lack of volume does not show me that there is enough fear to bring the coin down to $100-$200. The way I see it, many "weak" hands sold BTC today and typically these sort of dips should be brought up quite quickly. If we saw volume >100k; I would be concerned for the coming days. Considering that about a dozen people out there control a vast majority of the coins available, if we saw any of them jumping ship, you would see it right away in the volume.
With that being said..I did just buy 9 BTC with the instant feature on CoinBase...
There has been a pretty bad drop in the past 24 hours, I want to direct your attention to the following:
We have witnessed quite the drop but the lack of volume does not show me that there is enough fear to bring the coin down to $100-$200. The way I see it, many "weak" hands sold BTC today and typically these sort of dips should be brought up quite quickly. If we saw volume >100k; I would be concerned for the coming days. Considering that about a dozen people out there control a vast majority of the coins available, if we saw any of them jumping ship, you would see it right away in the volume.
With that being said..I did just buy 9 BTC with the instant feature on CoinBase...
WARNING: This is completely speculative.
A trend that I am watching is the cost of BTC when China is awake while we all are sleeping. I have noticed a couple dips after 2 am CMT but will somewhat recover before 6 am CMT. The last time we saw BTC at prices like this it dropped below $600 USD during the wee hours of the morning.
$1000 USD seems to be a baseline that many merchants use when pricing their products using BTC as a currency. What I am doing is using ebay as a blue book or value baseline. I am noticing that when BTC is around $1000 USD the final sales price in USD on ebay is about even for that item. If you are able to buy BTC below $1000 USD then in theory you could turn a profit on ebay selling the item you purchased with BTC.
A trend that I am watching is the cost of BTC when China is awake while we all are sleeping. I have noticed a couple dips after 2 am CMT but will somewhat recover before 6 am CMT. The last time we saw BTC at prices like this it dropped below $600 USD during the wee hours of the morning.
$1000 USD seems to be a baseline that many merchants use when pricing their products using BTC as a currency. What I am doing is using ebay as a blue book or value baseline. I am noticing that when BTC is around $1000 USD the final sales price in USD on ebay is about even for that item. If you are able to buy BTC below $1000 USD then in theory you could turn a profit on ebay selling the item you purchased with BTC.
Bitstamp are registered in the UK - but they operate out of Slovenia. And they bank with Slovenian banks - and on Friday a bailout was announced for Slovenian banks. So just be careful.
The bailout is being done by the Slovenian govt via bonds, but if it escalates, then EU money may be needed - and the EU is so fed-up of bailouts they've passed a law on bail-ins. That is, from next year, if the govt of a country can't handle banking problems by themselves without outside help, then deposits over 100,000 euros can be seized for a bail-in, to save taxpayers of other EU countries the hassle of putting their money in. The idea apparently is to force customers to do due diligence about who they bank with and how much money they have on deposit.
A company like Bitstamp will have more than 100,000 euros in their account pretty much all the time, and it could get seized as collateral damage, even if Bitstamp did nothing wrong. They did change their bank back in April citing possible banking risk, but I think all the Slovenian banks are up the chute at the moment.
With these exchanges, there is no protection - so only move small amounts of money at a time, nothing you can't afford to lose, and don't keep anything there. Do the trade and then move your coins or fiat out asap.
There is a Russian exchange, BTC-E - but don't know much about how they operate. Haven't heard any complaints, but people are nervous about them simply because they are Russian. No doubt someone with experience of their service will chime in.
Right, due to this recent development:
People's Bank of China Further Restricts Bitcoin | Cryptocurrency News, Bitcoin Trading Analysis
China Bitcoin Crackdown Intensifies - Business Insider
Just wondering if you're also following BTC china's chart by any chance. (noticed the chart you were using was based on mtgox). Anything major that happens in china affects the prices of bitcoins, so...
thx for the headsup.
ya, it seems some ppl are experiencing some snags in withdrawing funds from bitstamp lately (mentioned in bitcoin forums).
Ya, i use them to do most of my trades right now, but only to do BTC to USD and then right back to BTC. Sending and withdrawing BTC has been very smooth. Haven't done any bankwire transfers or withdrawals with fiat.....because they are Russian
As much crap as I give altcoins, protoshares, or the coins they'll be traded for next year, at least offer something that could be useful... Only bitcoin and Namecoin do that, so I'll be watching Invictus to see if they can pull it off.
Namecoin, which was created to be a distributed DNS system, has been 51% attacked a few times successfully and frankly the bitcoin blockchain could absorb the DNS naming duties if we really want it to... So at this point I've got more hope in protoshares than any altcoin, period.
Emotionally? Perhaps. But blind? Go fuck a cactus.
Yes.
I prefer the free market a thousand times over the system that :costumed-smiley-013FinCEN:costumed-smiley-013 thrives in.
Their support will get better. It's not like these people are hiding, You can find Ehrsam and Armstrong at bitcoin conferences and speaking engagements all the time... Eleven different Angel tanks have given them a combined $31 Million so far, so they aren't just going to flee the country at the next chance they get...
I'm making awesome progress, thanks.
In a bitcoin-only business that I've started up.
Those are not separate protocols, those are secure layers over the top of existing protocols, designed to switch effortlessly inbetween.
The bitcoin equivalent would not be an altcoin; it would be adding some more crypto to the bitcoin protocol.
Protocols are incompatible things by nature. They fight for dominence and utterly destroy the competition every single time. Litecoin and all will one day go the way of the betamax; it's 100% unavoidable, unless they adapt to become something other than a currency.
Before the unSystem site was replaced recently, I saw mention of it launching in January... Can't find it now though; they've totally renovated the site... Nothing about the date on DD either so perhaps they aren't meeting their target and have taken this opportunity to delay it.
They worked with the team that made Kryptokit... Similar infrastructure but of course KK has no mixing in it.
9 out of 10 of your posts do nothing but piss me off, but posts like this one make up for it.
Thank you for contributing.
There is a possibility we could see the following:
Wow. This is one of those times when I have to wonder what the driving factor would be... You're all about the technicals and I stay focused on the fundamentals, so this is totally out of the left field for me.
I understand that you're not predicting this even if we get bad news, but are you saying that this huge gain would happen BECAUSE some good news comes along, or could actually happen with no good news at all?
There is a possibility we could see the following:
Zero catalyst right now this isn't going to happen without positive news imo. Way to much uncertainty about what's going in China with no other major positive news to offset it.
this reminds me of when Google stocks first hit. lol. So many people said 'what couldn't happn' and talked about 'if they take over ____' etc.
totally different things but the hype reminds me of the same.... i think BitCoin is going to make the earth shake
totally different things but the hype reminds me of the same.... i think BitCoin is going to make the earth shake
There is difficulty in trying to understand how BTC would continue to trade under a normal technical environment since unlike companies that I would normally trade, BTC isn't a company, they do not have sale figures, or any sort of revenue. BTC's "growth" is actually based on its adoption. So with the chart in mind, that is the pattern that I can see happening as long as BTC continues to be adapted into society at the same rate as it has been so far. Which is obviously very difficult to quantify.
If adoption comes to a stall point, BTC will drop without question.
I would love for this to go back to $10 so I can back up the truck. That would be a once in a lifetime opportunity for late comers to buy it cheap.
Right now I would put 1/2 my money in bitcoin and the other half in cash to buy should it drop so low. The odds suggest it's going to $500 soon but having some $ on the sidelines should it go back to single digits seems prudent.
Right now I would put 1/2 my money in bitcoin and the other half in cash to buy should it drop so low. The odds suggest it's going to $500 soon but having some $ on the sidelines should it go back to single digits seems prudent.
Coinbase says the buying price right now is $651, that is a major drop from a few days ago. I assume you're all buying now?
Money Amount Issue
My great grandfather deposited his money during the great depression in several banks across West Texas to avoid the feds. Each time he stayed under the 10k mark.
Since the feds are on over-watch for Bit-Coin and it's transfers, the newer larger size of the money spent might have triggered some level of interference.
My great grandfather deposited his money during the great depression in several banks across West Texas to avoid the feds. Each time he stayed under the 10k mark.
Since the feds are on over-watch for Bit-Coin and it's transfers, the newer larger size of the money spent might have triggered some level of interference.