Winklevoss Twins on Bitcoin

[Johnnybravo300]

Which is the winner?! I know you guys are insiders! Hook a brotha up! Hehe

 

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[1320]

Which is the winner?! I know you guys are insiders! Hook a brotha up! Hehe

That's all I'm trying to do, help out the Tnet community, help some others make a little cash. I resisted for years, bashed, etc. I've actually made money with very little invested and it's an extremely easy process, no need for tech skills at all. I'm not killing it by any stretch but if the coins of my choice happen to take off, whoa.

This news hit the street an hour ago: Putin’s Orders: Russia Prepares to Legalize Cryptocurrency Markets by July 2018. If Russia goes through with it...wow, cargo containers of cash will hit the crypto space.

Join Coinbase Exchange: Deposit $50 cash via ACH transfer from your Bank (you'll have to link your bank to Coinbase).

Join Kraken Exchange while you're waiting for your cash to hit Coinbase (takes 7 days) (No Bank link required unless you want to wire transfer cash at $40+ a pop or withdraw)

Buy bitcoin on Coinbase with what's left after paying fees ($45?)

Get a deposit address from Kraken (you simply copy it), Go to Coinbase to set up transfer(sell) your bitcoin (paste Kraken's address), send

Go back to Kraken, exchange your bitcoin for 30 Ripple (xrp) coins (.95 each) and 30 Stellar Lumens (xlm) coins (.35 each) and you're done. Have adult beverage, high five a millennial, relax and watch what happens.

 

[FreeBirdTim]

Don't look now, but Bitcoin is crashing big time. Pump and dump, pump and dump, repeat ad infinitum...

 

[1320]

Don't look now, but Bitcoin is crashing big time. Pump and dump, pump and dump, repeat ad infinitum...

No one new to the space considers bitcoin unless they have to buy it in order to exchange it for the up and coming coins. The rise and fall of bitcoin is the perfect strategy to get into the newer cryptos. Buy bitcoin on the dip, hold for a week or two, exchange for others when bitcoin climbs.

 

[FreeBirdTim]

No one new to the space considers bitcoin unless they have to buy it in order to exchange it for the up and coming coins

This is one of the big things that bothers me about the whole setup. Why do you have to buy Bitcoin, then exchange it for the crypto that you want? Seems shady to me. Why can't you just buy any one of them with a debit or credit card?

 

[Dave Rishar]

You guys still holding those coins?

Nope.

Blockchain will stick around and can be useful but it's free and open source anyway same as email.

And yet people still think for some reason that crypto currencies won't work, or can somehow be removed from the world. Can we remove email from the world? Except that this is more persistent than email. It would be even more difficult to remove.

Don't look now, but Bitcoin is crashing big time. Pump and dump, pump and dump, repeat ad infinitum...

Yes, you said that a few weeks ago, and it's up from that crash currently.

No one new to the space considers bitcoin unless they have to buy it in order to exchange it for the up and coming coins.

The humorous thing about this is that I suspect that most Bitcoin users actually use it to buy altcoins instead of actual products - which doesn't really matter when we're considering whether or not it would work for currency.

 

[1320]

This is one of the big things that bothers me about the whole setup. Why do you have to buy Bitcoin, then exchange it for the crypto that you want? Seems shady to me. Why can't you just buy any one of them with a debit or credit card?

You can use cards for purchases, fees are substantially less when you link your bank and use Automated Clearing House (ACH) transfers to fund your crypto account with US dollars. Fair warning though, some of the major banks do not allow digital currency transactions on their credit cards.

I'm not sure how withdrawals/profits would be re-routed back to your cards.....Dave, any input on this?

"Why do we have to buy Bitcoin first?" Saves you money. Some of the Exchanges will not accept the cheaper ACH deposits from your bank. They require the wire transfer method which you have to make a trip to the bank, fill out a form and pay $40+. So, you're money ahead to just buy Bitcoin and swap it.

 

[1320]

"The humorous thing about this is that I suspect that most Bitcoin users actually use it to buy altcoins instead of actual products" I'm in this camp....lol.

 

[Johnnybravo300]

https://www.google.com/amp/www.inde...eum-litecoin-ripple-cardano-a8243646.html?amp

Wait for the bottom!

 

[1320]

https://www.google.com/amp/www.inde...eum-litecoin-ripple-cardano-a8243646.html?amp

Wait for the bottom!

How come we never see a post/link when all cryptos gain 15%?! LOL

 

[1320]

For those of you waiting for the bottom, I present to you, the bigger picture.......

 

[eddie13]

No one new to the space considers bitcoin unless they have to buy it in order to exchange it for the up and coming coins.

True but foolish IMO.. It is the best way for experiences traders to take newbs money if they "trade" with it..
If you are just going to hold, most altcoins will lose.. Especially if you buy at the peak of hype like a true newb..

Bitcoin is where it's at and where it always will be at for many reasons..

 

[coinman123]

I like having something physical that I can hold, not something that is just tons of 1s and 0s inside a database somewhere across the world. I am sure in within 10 years Bitcoin will be completely obsolete, but gold won't.

 

[FreeBirdTim]

Boy, talk of the SEC regulating cryptos really shook up the speculators. All of the cryptos are dropping like a stone with no bottom in sight...

 

[Dave Rishar]

Bitcoin, Ripple and other cryptocurrencies are falling like a rock this week. Bitcoin has now tanked to $8,400. Hate to say I told you so, but I did tell you it was too good to be true...

Boy, talk of the SEC regulating cryptos really shook up the speculators. All of the cryptos are dropping like a stone with no bottom in sight...

The first comment was from a month ago. The second comment is from now. Is the rock falling more quickly or less quickly?

I like having something physical that I can hold, not something that is just tons of 1s and 0s inside a database somewhere across the world.

Do you have a bank account, credit card, debit card, mortgage, or any sort of loan? Asking for a friend.

 

[FreeBirdTim]

Methinks thou doth protest too much, Dave. You seem VERY touchy whenever anyone states anything negative about cryptos. If you're not speculating in them, why do you care?

 

[Johnnybravo300]

Yesterday my wife went to cash her checks and the banks computers were down. They said they didn't know when it would be deposited. I've never trusted the digital world and it's the reason I only pay cash and don't get loans or mortgages or use cards. I only keep a minimum in the bank at any time for gas or milk. Half the time I cash my checks at Walmart anyway.
Some people trust the banks with their money but I just can't do it haha.

They say blockchain is a trustless system but the entire thing runs on trust. I don't understand that at all. You need trust that others will buy it for it to work. A little trick on words there.

 

[FreeBirdTim]

Yup, cash is king in my world. Ever go to a gas station and find out their computers are down? Can't process debit or credit cards, sorry. Cash only. I always have at least $60 on me at all times to deal with those issues.

I rarely use a debit card at the store. Why post your info to every store in town for a $20 transaction? Too easy for stores to get hacked and then tell you "Sorry, 10 million of our customers accounts have been hacked!". They gave them all the info they need to open up accounts in your name all over the world! Thanks, guys!

There's a reason why regulation is a good thing. It keeps the thieves in check (most of the time) and it gives you protection if someone takes money out of your account without your permission. What happens if someone hacks my Bitcoin account and take 20 grand from me? They get my hard earned money and they'll tell me "too bad". No thanks. I'll think about buying cryptos when they are regulated and I have some sort of protection if someone rips me off.

 

[Johnnybravo300]

I remember when I was younger and we'd be at the store with $300 worth of groceries to pay for and my debit card wouldn't work haha. Only takes once or twice of dealing with that before I call it quits. No one has ever turned down cash yet and it doesn't rely on a scan bar to work.

If I didn't need a card for online purchases I wouldn't even have one.

I've had charges to my account from France and other places in the last year or so but they've always refunded me so far. There's nothing safe or secure about having your wealth in a digital illusion in my opinion and it's far easier to just use cash. Too many things can and do go wrong and after once or twice I was over it. It wasn't ever easier or more convenient than cash for me.

 

[FreeBirdTim]

Guess that cancels my plans to go to the Amsterdam Falafelshop today! LOL! And I was hankering for a nice big salad for lunch, but SweetGreen won't take my cash. Bummer...


P.S. The poster removed his comment stating that some stores won't take cash, including the two I mentioned above...