Bitcoin/Cryptocurrency

[Kreole 1,388]

29 minutes ago, Paul said:

Can't say I have a suitcase full of money. But, I bought a coin and sold it not long after, making 5 times my investment. I put my initial investment back into it. Waiting for it to go up again. 

So, you didn't rain on my parade.

So, you converted your "profits" back into USD and then put that back into your bank account?

[Paul 55,112]

7 minutes ago, Kreole said:

let's say I sweep the active wallet on the exchange to get the cryptocurrency into my paper wallet.  Then later, I want to use a different exchange to sell cryptocurrency.  Will the other exchange recognize the "value" of my cryptocurrency in my paper wallet and allow me to trade, sell or add more cryptocurrency?

I don't know, honestly, Ron. I have not used a "paper wallet". 

I do know that, whenever I wish to trade, I send coins to their wallet on a given exchange, trade them, then send the newly purchased coins back to my computer and into their wallet. Then, I back the wallet.dat files up again, on my flash drives.

[Paul 55,112]

1 minute ago, Kreole said:

So, you converted your "profits" back into USD and then put that back into your bank account?

Well, not exactly. I had to send the m to a friend's account. He exchanged them for USD.

[Kreole 1,388]

1 minute ago, Paul said:

I don't know, honestly, Ron. I have not used a "paper wallet". 

I do know that, whenever I wish to trade, I send coins to their wallet on a given exchange, trade them, then send the newly purchased coins back to my computer and into their wallet. Then, I back the wallet.dat files up again, on my flash drives.

When you sign up for the exchanges, do you use your real name, or create a fictitious name to remain anonymous?  It seems that you will need to use your real name because if you are going to buy cryptocurrency from you bank account or credit card, the names have to match.

[Kreole 1,388]

8 minutes ago, Paul said:

Well, not exactly. I had to send the m to a friend's account. He exchanged them for USD.

ok, so you actually are using someone's elses wallet to transact.

[Kreole 1,388]

When I want to sell my crypto currency for USD, how am I able to receive the funds?  Would this be a peer to peer transaction where I am dealing with another trader like myself, or is this done through the exchange where the exchange deposits the money into my bank account?

Edited December 20, 2017 by Kreole

[Paul 55,112]

7 minutes ago, Kreole said:

ok, so you actually are using someone's elses wallet to transact.

Right, because coinbase will not allow me to do so, through my account.

5 minutes ago, Kreole said:

When I want to sell my crypto currency for USD, how am I able to receive the funds?  Would this be a peer to peer transaction where I am dealing with another trader like myself, or is this done through the exchange where the exchange deposits the money into my bank account?

That's what I just explained. The BTC is sent to coinbase, traded for USD, then sent to a bank.

[Kreole 1,388]

1 minute ago, Paul said:

Right, because coinbase will not allow me to do so, through my account.

That's what I just explained. The BTC is sent to coinbase, traded for USD, then sent to a bank.

Ok.  Salamat!

[Paul 55,112]

We (I assume you as well) have to send the coins to someone we trust. In my case, he keeps the coins and wires me the funds.

[Paul 55,112]

It's a pain, honestly. But, I am limited as to what I can do here, regarding buying and selling crypto with fiat.

[Kreole 1,388]

I am trying to sign up to Coinbase and Plus500 (eToro) but I do not have a smartphone.  I have a talk-n-text only so cannot do transactions since these sites want my cp number.  When I submit my cp number, they assume my account is based in the RP and therefore want to transact in PHP.  I want to transact in USD only.  this is beginning to become a headache.

I was just informed that eToro does not accept US citizens.

Edited December 20, 2017 by Kreole

[Kreole 1,388]

Coinbase just sent notice that it does not support transactions from the RP, so I am assuming that the forum members here are using an account based in another country.

Edited December 20, 2017 by Kreole

[broden 57,113]

Bill Miller's hedge fund has half its money in bitcoin

https://www.cnbc.com/2017/12/18/bill-millers-hedge-fund-has-half-its-money-in-bitcoin.html

 

[Thomson 188]

All right guys, it's pretty clear to me in what kind of a situation Bitcoin is in right now. 

I was thinking we were going to see BTC at $25,000 within a matter of weeks, but from what we've seen yesterday and today is whenever BCH goes up BTC goes down at the same pace. 

BCH $2000 > 2500
BTC $18500 > 18000

BCH $2500 > 3000
BTC $17500 > 17000

BCH $3000 > 3500
BTC $17000 > 16500

It seems like in the long run BCH might be worth more than BTC if it keeps going like that, and will eventually indeed replace it. 
Right now however the BCH price is still at $3300 and the BTC price has recovered back to $17800 but not for long.

Conclusion: stay away from BTC and get into BCH whenever the price drops a bit, as there should be an incoming correction. I'm pretty sure we will see BCH at $10,000 and more soon, and whenever it hits that $10K the sky will be the limit.

especially if BCH surpasses BTC, the BTC value will immediately drop like a brick. This is the plan, BCH will take over BTC.

Edited December 20, 2017 by Thomson

[rep1 2,144]

Nowhere to exchange BCH  

will redistribute more into LTC and ETH. ETH is finally raising again since mid-year!