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Discussion Starter · #61 ·
Crypto exchanges are essentially like stock exchanges, right? I've read the Winklevoss twins (among others) essentially own their cryptos' exchange. Is that correct?
Yes, except they are unregulated and its the wild wild west.

The Winklevoss twins lobbied for SEC approval of their Bitcoin ETF (exchange traded fund) and also own Gemini, a trusted exchange.
 

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Discussion Starter · #62 ·
So if I understand correctly, it's very much like an exchange that can operate in violation of the Securities Exchange Act via some sort of loophole?
They can operate however they want because its not money *chuckle* .....ergo, the SEC has no jurisdiction.
 

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Discussion Starter · #65 ·
  1. Why give the impression that you first have to make a "Deposit" to your CB account before you can purchase!

Because each represents a unique purchase path. Once you have deposited money into your CB wallet (USD) purchases are instant. You can not use the money during transfer, but once its in the USD wallet, if you purchase anything with it, it becomes available instantly.

Conversely, if you purchases straight from your bank acct, it allows you to secure the current price, but then you have to wait for it to clear from your bank acct before it is released to transfer. This is so that people can't make a 10K purchases from an empty bank acct, and then transfer all the BTC out before anyone is the wiser.

Both types of purchases have their time and place.

Rather difficult to make contact with any of these people!
Remember bro, these guys are swamped. Its difficult to contact anyone who is anybody in crypto right now.



Warning that when buying that there is a Pending Deposit that Cannot be used and they will use instead the bank on the account!
I'm still kind of unclear on how this all went down, but I think this may have been more a misunderstanding the process than a failure on their part, which is understandable. It's a lot of info to be digested in the beginning. Hopefully its clear now though? If not, don't hesitate to ask a question here or PM me, If I don't know the answer I'll do my best to help you find it.


Or at least a drop down showing the Pending Deposit and the bank accounts to choose from.
There is one....When you click buy, there is a drop down where you choose which method of payment (ACH/USD WALLET/CC). This is why I asked if you were on phone or tablet, their mobile website is absolute garbage. It's like paypals mobile site, its designed to hide options and ensure that you pay the most in fees. But if you were on comp, something weird could have happened. The dashboard/BUYSELL/account overview pages used to look very familiar, so always double check the tab you are on before proceeding.

It takes 2-3 days to process the buy orders, even after taking the ACH out.
Every rose has its thorn.....ya know what I mean? :D

Like I said it is probably my fault but safeguards should be put in place for dummies like myself.:rolleyes:
Nah bro, there is a ton of info in the initial days, its overwhelming. Just keep reading, studying, the picture will come into focus.
 
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Chris, their support site said they were working with their processor for some of the deposits for some accounts. Apparently they are having some issues but I think most of it was me not understanding their process. Thanks.
 

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Damn Paul, 78BTC is 1.1Mil in todays money!
I was going to use GDAX but do tell on why the Coinbase feelings, since they own GDAX.
Can you transfer from one exchange to another? Have not gotten that far yet with my knowledge of crypto. Bitstamp can fund and withdraw to a bank account?
You can do pretty much everything at bitstamp you can at CB. I don't know any miners that use CB due to processing time and fees. They will also 1099k you. Coinbase may appeal to folks just starting out. Think of it as a starter AR until you learn what you like and want. Then upgrade.

PS Never ever do cloud mining. Major scam.
 
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So if I understand correctly, it's very much like an exchange that can operate in violation of the Securities Exchange Act via some sort of loophole?
heh, my exchange is in China. Come get me FEC. Exchanges are better, but it still very wild wild west. They are more honest than banks. I had 400k in MACU. I needed a 100k LoC and they wanted to charge me 13% to loan me my own money back. Tis why I love Alt Currency. Banks are a major scam.
 

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One a side note: My wife works at Goldman Sachs. They are opening a crypto exchange desk. It will inflate prices when its made more public. Then they'll crash. Normal for alt coins.
 
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Discussion Starter · #70 ·
One a side note: My wife works at Goldman Sachs. They are opening a crypto exchange desk. It will inflate prices when its made more public. Then they'll crash. Normal for alt coins.
I love you bro. ETA?
 

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So, any thoughts on the recent drop in value across BTC, ETH, XRP etc.?
 

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So, any thoughts on the recent drop in value across BTC, ETH, XRP etc.?
Probably people going into the regular market b/c we hit 26K....the sheeple always miss the mantra of buy low, sell high and do the opposite. Since the "regular" market is up....some of undoubtedly jumped on that bandwagon which could well be why there was a drop in crypto (but that's merely a guess for a portion of the drop, certainly not all of it).
 

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Some are saying I think is the worry about regulation by Gov'ts. Wonder how low will it drop.
 

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Discussion Starter · #75 · (Edited)
So, any thoughts on the recent drop in value across BTC, ETH, XRP etc.?
After every surge people ask this....but don't buy into their Bs.....just think like this.....

Xrp - 500%
Eth - 500%
Btc - 500%

....and ask them.... why the sudden drop that left people with only 250% still on the table? ;)



There is always a correction after a surge. Like clockwork...and btc is the big indicator. Right before btc rallies alts teeter, then plummet as the big guy takes off. Of course a massive correction (btc) can also drag alts Down too....it's an intricately related microcosm.

Because crypto cycles are so compressed, people and their emotions become emphasized to the point of caricature. Join some crypto fb groups and you'll see what I mean.

I dont know why but after each all time high, we drop a few percent and people start buying the dip....then the correction starts and everyone loses their minds like something is wrong...then the FUD starts.... There is always correction.....add to that external market forces (like the American market rallying) and we get what we get. If you want to get serious about predicting the future, I'd recommend a trading view account.

Sign up for the trial, then when it's up decline till they offer you 75% off for a year. Take that. It's worth it. I've made almost as much shorting as I have going long, but you have to know when the market is going to move.

If you're just hodling....don't worry. Hold good coins and sleep well. Nothing is wrong. This is how it works. It goes up, it goes down, it goes farther up. Was
 
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Chris....what exchange do you use/recommend? Friends at work are using Coinbase and Binance now to buy Ripple XRP and Stellar Lumen.

Also, does anyone know of a bidding site like eBay or similar where they take crypto when you're selling...or even buying parts?
 

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Binance seems to be slowing down or something else is up with just logging in lately - ever since the announcement from the Chinese Gov't about trying to do something about crypto trading.
I think Chris uses Poloniex too.
Someone else said Kraken, but they only recently started accepting new registrations again last week.
Bitstamp take forever to Verify you.
 

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Discussion Starter · #78 ·
Chris....what exchange do you use/recommend? Friends at work are using Coinbase and Binance now to buy Ripple XRP and Stellar Lumen.

Also, does anyone know of a bidding site like eBay or similar where they take crypto when you're selling...or even buying parts?
I haven't gotten lucky on my binance registration yet, but I do like the exchange. I use poloniex and kraken.

I purchase my btc with coinbase.

I do not know of a crypto-ebay yet...but be assured it's coming.
 

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I haven't gotten lucky on my binance registration yet, but I do like the exchange. I use poloniex and kraken.

I purchase my btc with coinbase.

I do not know of a crypto-ebay yet...but be assured it's coming.
Any reason why you chose those two over others?
 

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I like binance and Bittrex. Haven't used kucoin yet. I also buy the big 3 on Coinbase. Some of the withdraw fees on binance are a joke. Most are fine. Always transfer your coinbase purchase over to gdax to another exchange as they don't charge fees to do so. Binance is better of the two imho but they both have their strengths.
 
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