Post: #2101

(07-10-2015 10:15 AM)Il Bersagliere Wrote:  Does anyone here know a good site where I can buy a considerable amount of BTC using my debit card?

Most of the sites I have been using have requested lengthy identity verification, which is fine, but then they hit me with a withdrawal limit.

What sources are you using Bersagliere, and what are the specific limits that you are facing?

I have personally only bought through Circle, Coinbase and Localbitcoins.

Currently, my circle account allows me to buy $1000 a week by credit card and $2500 a week through my bank.

Coinbase allows me $1000 per week instant buy, but $50,000 per day that is NOT instant buy (meaning that I would buy them at a locked in price, and have delivery within 4-5 business days).

Localbitcoin does not have a limit, but the various sellers have limits depending on which one.


There are probably some other ways to get bitcoins that I have NOT attempted because I find the combination of my sources to be more than sufficient for me.... You may or may not have access to these sources.

Post: #2102

(07-10-2015 10:24 AM)JayJuanGee Wrote:  

(07-10-2015 10:15 AM)Il Bersagliere Wrote:  Does anyone here know a good site where I can buy a considerable amount of BTC using my debit card?

Most of the sites I have been using have requested lengthy identity verification, which is fine, but then they hit me with a withdrawal limit.

What sources are you using Bersagliere, and what are the specific limits that you are facing?

I have personally only bought through Circle, Coinbase and Localbitcoins.

Currently, my circle account allows me to buy $1000 a week by credit card and $2500 a week through my bank.

Coinbase allows me $1000 per week instant buy, but $50,000 per day that is NOT instant buy (meaning that I would buy them at a locked in price, and have delivery within 4-5 business days).

Localbitcoin does not have a limit, but the various sellers have limits depending on which one.


There are probably some other ways to get bitcoins that I have NOT attempted because I find the combination of my sources to be more than sufficient for me.... You may or may not have access to these sources.

I have tried cex.io, coinbase, coin.mx and circle.

Cex has lengthy verification processes. Coinbase makes you add a bank, which takes a few days, and coin.mx has a lifetime withdrawal of about $500. Circle seems great and has low fees, but I just signed up and have a $100 limit per week. I have not heard of localbitcoins. I am trying that this instant.

I really hate all these restrictions. Defeats the purpose of crypto-currency.

Post: #2103

(07-10-2015 10:30 AM)Il Bersagliere Wrote:  

(07-10-2015 10:24 AM)JayJuanGee Wrote:  

(07-10-2015 10:15 AM)Il Bersagliere Wrote:  Does anyone here know a good site where I can buy a considerable amount of BTC using my debit card?

Most of the sites I have been using have requested lengthy identity verification, which is fine, but then they hit me with a withdrawal limit.

What sources are you using Bersagliere, and what are the specific limits that you are facing?

I have personally only bought through Circle, Coinbase and Localbitcoins.

Currently, my circle account allows me to buy $1000 a week by credit card and $2500 a week through my bank.

Coinbase allows me $1000 per week instant buy, but $50,000 per day that is NOT instant buy (meaning that I would buy them at a locked in price, and have delivery within 4-5 business days).

Localbitcoin does not have a limit, but the various sellers have limits depending on which one.


There are probably some other ways to get bitcoins that I have NOT attempted because I find the combination of my sources to be more than sufficient for me.... You may or may not have access to these sources.

I have tried cex.io, coinbase, coin.mx and circle.

Cex has lengthy verification processes. Coinbase makes you add a bank, which takes a few days, and coin.mx has a lifetime withdrawal of about $500. Circle seems great and has low fees, but I just signed up and have a $100 limit per week. I have not heard of localbitcoins. I am trying that this instant.

I really hate all these restrictions. Defeats the purpose of crypto-currency.

You are correct that in many instances there will be a verification process that takes several days, and then also in many instances there will be purchase and withdrawal limitations when the account is first established.

Some of the limits may go up after you have the account for several weeks/months.

You will find that localbitcoins is a site that merely allows individuals to hook-up for buying and selling bitcoins, and they have some safeguards in place that may allow the agreement to occur and forms of escrow if you do that online rather than physically meeting with the people.

You may also consider whether there are some bitcoin meet-ups in your area, and sometimes, you may be able to personally meet someone who you trust and then fees would be removed... so long as you were both agreeable to such. Probably, it is a bit difficult to meet people who are selling when you are buying and then buying when you are selling, but you never know, if you can find an active bitcoin meetup with a sufficient number of attendees, and then go to such bitcoin meetups, there are probably all sorts of possibilities regarding the attendees of such.

Post: #2104

Curious, how much verification is required at BTC-e vs. Coinbase and Bitstamp. Bitstamp almost seems to want your blood type (if you're an American).

Post: #2105

(07-10-2015 02:36 PM)SunW Wrote:  Curious, how much verification is required at BTC-e vs. Coinbase and Bitstamp. Bitstamp almost seems to want your blood type (if you're an American).

All these options are so inconvenient and a big hassle. I need instant transactions if I attach a financial to certain online services. I called coin.mx and they had the nerve to tell me that my btc transactions were anonymous. Get the fuck out of my face with that shit.

If they are collecting my information, they can track my transactions, simple as that. Wish they hadn't shut down Liberty Reserve. Or e-gold.

Coinbase needs just your bank, but the wait time takes too long. Unfortunately for me, certain merchants only take certain payment methods. And it's a hassle. At least the price is climbing.

Post: #2106

(07-10-2015 02:36 PM)SunW Wrote:  Curious, how much verification is required at BTC-e vs. Coinbase and Bitstamp. Bitstamp almost seems to want your blood type (if you're an American).

I believe that BTC-e has been quite known for having little to no verification process, especially when it comes to transferring BTC in and out.

I remember setting up my account with them (about a year and a half ago) , and it was active almost immediately.

On the other hand, if a guy were to attempt to cash out fiat on BTC-e, that may be another story. I believe that their verification process would be more extensive, if dealing with cashing out fiat.

MOst other exchanges engage in know your customer (KYC) and anti-money laundering (AML) practices - especially when they are dealing with fiat.

Post: #2107

Thanks for the tip Jay. Saw this range this morning on Bitstamp:

Quote:$283.88 - $298.05

If my technical analysis friends are right and $300 is a resistance point, it will be interesting what happens if it manages to break $300.

Post: #2108

(07-11-2015 09:02 AM)SunW Wrote:  Thanks for the tip Jay. Saw this range this morning on Bitstamp:

Quote:$283.88 - $298.05

If my technical analysis friends are right and $300 is a resistance point, it will be interesting what happens if it manages to break $300.

Prices are certainly pushing on that $300 resistance point as I type, and depends on which exchange we use regarding our BTC price barometer.

Historically, in this thread, largely, we have been using Bitstamp as our btc price reference point - even though in about the past 6 months or so, there has been some questioning of Bitstamp as the price leader barometer.

Surely, I would be curious if any guy involved in this thread would like us to use some other exchange or index as a btc price barometer.

Post: #2109

Prices broke $300 on bitstamp, and landed as high as $313.

As for prices, the major exchanges that I know of are Bitstamp, CoinDesk, and BTC-e. I think preev.com aggregates those and comes up with a price.

Quote:Price data is continually gathered from multiple markets. A weighted average price of these markets is shown by default (based on 24-hour trade volume). Alternatively, you can choose a specific source from the settings menu.

Can an American buy bitcoin at BTCChina? I know that one is big over there and it definitely is higher in price at the moment.

Post: #2110

double

Post: #2111

(07-12-2015 07:22 AM)SunW Wrote:  Prices broke $300 on bitstamp, and landed as high as $313.

As for prices, the major exchanges that I know of are Bitstamp, CoinDesk, and BTC-e. I think preev.com aggregates those and comes up with a price.

Quote:Price data is continually gathered from multiple markets. A weighted average price of these markets is shown by default (based on 24-hour trade volume). Alternatively, you can choose a specific source from the settings menu.

Can an American buy bitcoin at BTCChina? I know that one is big over there and it definitely is higher in price at the moment.

I am pretty sure that Americans can establish various accounts with various exchanges; however, as you suggest, SunW, there may be some exchanges that do NOT want to have american customers because they are worried about potential exposure to American Government institutions and laws. surely, there are ys around these barriers.

Nonetheless, it seems that your point about potential profitable ways to benefit from the various exchange rates may be more imaginary than practical. In this regard, there are a lot of quasi-professional traders that work these kinds of arbitrage channels, and surely, there systems are likely going to be somewhat better than any kind of average joe attempting to make profits out of such exchange rate differences.

On the other hand, I am certain that there are frequently profitable arbitrage avenues for any industrious, creative and innovative person to identify profitable avenues and to exploit such. In this regard, there would be risk and time issues and also a need to be able to work with btc and fiat and possibly even other cryptos in order to be able to transfer money around and potentially cash out with profits.

The potentially heavy regulation and scrutiny comes in the crypto space when you begin to cash out in fiat... and may NOT always be easy to employ various quasi-anonymous (if that is what you may want to accomplish) practices to avoid potential governmental scrutiny while cashing out realized profits.

Post: #2112

We do NOT talk too much about other cryptos in this BTC thread; however, sometimes the price movements of the other cryptos can signal potential price movements in BTC, or even experience some considerable profit potentials.

The litecoin price movement over the last month is indicative of such... Yes, if a guy had timed it well, he could have gotten a good 4 x profit over the past month-ish buy merely buying low and selling high... alternatively, there may have been additional ways to play the downward price movements, as well.

Who knows what is going to happen to the near term future price direction of litecoin.

Post: #2113

(06-22-2015 12:12 AM)BBinger Wrote:  I'm very active on the #bitcoin-assets IRC channel and there's a near consensus in the big holder circles that much of the present price depression is a natural effect of poor information on actual trades. Most bitcoin are never touching BitStamp, the Chicom exchanges (especially Bitfinex), or the new American wave of exchanges.

Interesting. I read the logs on a regular basis. What is your username?

Agree with your assessment of the price situation. The market signal-to-noise ratio is very poor and it is also my impression that most of the BTC changing hands are being traded OTC.

Been away for awhile, good to see this thread is still active. 2nd half of the year should be very interesting. Especially if masterluc from BTCtalk forum is right and historical wave III has indeed started.

Post: #2114

(07-13-2015 08:23 PM)brg444 Wrote:  

(06-22-2015 12:12 AM)BBinger Wrote:  I'm very active on the #bitcoin-assets IRC channel and there's a near consensus in the big holder circles that much of the present price depression is a natural effect of poor information on actual trades. Most bitcoin are never touching BitStamp, the Chicom exchanges (especially Bitfinex), or the new American wave of exchanges.

Interesting. I read the logs on a regular basis. What is your username?

Agree with your assessment of the price situation. The market signal-to-noise ratio is very poor and it is also my impression that most of the BTC changing hands are being traded OTC.

Been away for awhile, good to see this thread is still active. 2nd half of the year should be very interesting. Especially if masterluc from BTCtalk forum is right and historical wave III has indeed started.

Can you provide a link for the masterluc postings, BRG444?

Post: #2115

(07-14-2015 12:34 AM)JayJuanGee Wrote:  

(07-13-2015 08:23 PM)brg444 Wrote:  

(06-22-2015 12:12 AM)BBinger Wrote:  I'm very active on the #bitcoin-assets IRC channel and there's a near consensus in the big holder circles that much of the present price depression is a natural effect of poor information on actual trades. Most bitcoin are never touching BitStamp, the Chicom exchanges (especially Bitfinex), or the new American wave of exchanges.

Interesting. I read the logs on a regular basis. What is your username?

Agree with your assessment of the price situation. The market signal-to-noise ratio is very poor and it is also my impression that most of the BTC changing hands are being traded OTC.

Been away for awhile, good to see this thread is still active. 2nd half of the year should be very interesting. Especially if masterluc from BTCtalk forum is right and historical wave III has indeed started.

Can you provide a link for the masterluc postings, BRG444?

Sure, relevant posts here:

https://bitcointalk.org/index.php?topic=...sg11854820

https://bitcointalk.org/index.php?topic=...sg11848398

https://bitcointalk.org/index.php?topic=...sg11751638

Post: #2116

(07-14-2015 01:06 AM)brg444 Wrote:  

(07-14-2015 12:34 AM)JayJuanGee Wrote:  

(07-13-2015 08:23 PM)brg444 Wrote:  

(06-22-2015 12:12 AM)BBinger Wrote:  I'm very active on the #bitcoin-assets IRC channel and there's a near consensus in the big holder circles that much of the present price depression is a natural effect of poor information on actual trades. Most bitcoin are never touching BitStamp, the Chicom exchanges (especially Bitfinex), or the new American wave of exchanges.

Interesting. I read the logs on a regular basis. What is your username?

Agree with your assessment of the price situation. The market signal-to-noise ratio is very poor and it is also my impression that most of the BTC changing hands are being traded OTC.

Been away for awhile, good to see this thread is still active. 2nd half of the year should be very interesting. Especially if masterluc from BTCtalk forum is right and historical wave III has indeed started.

Can you provide a link for the masterluc postings, BRG444?

Sure, relevant posts here:

https://bitcointalk.org/index.php?topic=...sg11854820

https://bitcointalk.org/index.php?topic=...sg11848398

https://bitcointalk.org/index.php?topic=...sg11751638

Thanks BRG.....

It's nice to see some of the technical analysis postings.... and yes, generally bullish, whether going with the predictions of near term peaks of below $1,200 or some of the predictions of other posters of $3,000 to $4,000 or even above $120k per BTC.

$3 to $4 k would be interesting and seems to be realistically possible within the coming year or 2 at the most.

Post: #2117

I have linked my Circle account to both a banking account and to a credit card. When I attempt to make a bitcoin purchase, the Circle account defaults to the credit card. Accordingly, yesterday, I accidentally purchased some BTC via credit card, rather than through my bank account.

It appears that my credit card charged me an extra 2.9% fee for this luxury. Hopefully, no other fees (hidden or NOT) will be added on to my total, and maybe it will be a fairly inexpensive mistake, especially, when, in the near future, the prices of BTC go to $10k plus... hahahahaha.

Post: #2118

(07-14-2015 08:20 PM)JayJuanGee Wrote:  I have linked my Circle account to both a banking account and to a credit card. When I attempt to make a bitcoin purchase, the Circle account defaults to the credit card. Accordingly, yesterday, I accidentally purchased some BTC via credit card, rather than through my bank account.

It appears that my credit card charged me an extra 2.9% fee for this luxury. Hopefully, no other fees (hidden or NOT) will be added on to my total, and maybe it will be a fairly inexpensive mistake, especially, when, in the near future, the prices of BTC go to $10k plus... hahahahaha.

Quite impressive that you have accumulated so many bitcoins. Kudos on that.. you will be a very, very wealthy man if you manage to play your cards right during the upcoming bubbles.

I remember we both started buying at around the same time and it has been a tortuous way down since late 2013 but I have to say I admire your conviction and wish I could say I have as many as you do!

To the moon!

Post: #2119

(07-14-2015 08:20 PM)JayJuanGee Wrote:  It appears that my credit card charged me an extra 2.9% fee for this luxury. Hopefully, no other fees (hidden or NOT) will be added on to my total, and maybe it will be a fairly inexpensive mistake, especially, when, in the near future, the prices of BTC go to $10k plus... hahahahaha.

I hope it doesn't go to $10k any time soon, as many of us at BTCJam would lose quite a bit, since borrowers would see that it's more rational to default. A slow climb to $350 - $400 isn't bad, especially if over a few years. With an interest rate range on 5-10% on loans, and some appreciation in the currency, the lender makes a prettier penny than if he was in the S&P.

Now, what it will be in twenty to thirty years, after all the QEs, bailouts and possible fiat currency crises, remains to be seen, but I suspect that it will be much, much higher than now.

Post: #2120

(07-15-2015 09:51 AM)SunW Wrote:  

(07-14-2015 08:20 PM)JayJuanGee Wrote:  It appears that my credit card charged me an extra 2.9% fee for this luxury. Hopefully, no other fees (hidden or NOT) will be added on to my total, and maybe it will be a fairly inexpensive mistake, especially, when, in the near future, the prices of BTC go to $10k plus... hahahahaha.

I hope it doesn't go to $10k any time soon, as many of us at BTCJam would lose quite a bit, since borrowers would see that it's more rational to default. A slow climb to $350 - $400 isn't bad, especially if over a few years. With an interest rate range on 5-10% on loans, and some appreciation in the currency, the lender makes a prettier penny than if he was in the S&P.

Now, what it will be in twenty to thirty years, after all the QEs, bailouts and possible fiat currency crises, remains to be seen, but I suspect that it will be much, much higher than now.

There is simply no way, in my mind, that Bitcoin remains at 350-400$ in the coming years. That implies stagnation at at 5-6 B$ market cap and this would represent utter failure for Bitcoin from my point of view.

Bitcoin isn't built for "slow climbs". It has built in boom-bust cycles spawned by speculative manias following typical network technologies s-curve adoption models.

I will strongly reconsider my investment in Bitcoin if we haven't hit at least 10,000$ by the end of 2016.

Post: #2121

(07-15-2015 10:14 AM)brg444 Wrote:  

(07-15-2015 09:51 AM)SunW Wrote:  [quote='JayJuanGee' pid='1065541' dateline='1436923252']It appears that my credit card charged me an extra 2.9% fee for this luxury. Hopefully, no other fees (hidden or NOT) will be added on to my total, and maybe it will be a fairly inexpensive mistake, especially, when, in the near future, the prices of BTC go to $10k plus... hahahahaha.

I will strongly reconsider my investment in Bitcoin if we haven't hit at least 10,000$ by the end of 2016.

Keeping this for the records.

Discussing bitcoin is fascinating because what attracts others doesn't always attract myself (and vice versa). I hold the very opposite view - if it goes up that high, that fast, something is very wrong.

Either way, your perspective about boom and bust like technology is fascinating and you may be right on the mone... bitcoin.

Post: #2122

I'm going to start playing with this again next week. Also as far as making money ALT coins are the way to go as far as HODL BTC.

Post: #2123

(07-15-2015 08:27 AM)brg444 Wrote:  

(07-14-2015 08:20 PM)JayJuanGee Wrote:  I have linked my Circle account to both a banking account and to a credit card. When I attempt to make a bitcoin purchase, the Circle account defaults to the credit card. Accordingly, yesterday, I accidentally purchased some BTC via credit card, rather than through my bank account.

It appears that my credit card charged me an extra 2.9% fee for this luxury. Hopefully, no other fees (hidden or NOT) will be added on to my total, and maybe it will be a fairly inexpensive mistake, especially, when, in the near future, the prices of BTC go to $10k plus... hahahahaha.

Quite impressive that you have accumulated so many bitcoins. Kudos on that.. you will be a very, very wealthy man if you manage to play your cards right during the upcoming bubbles.

I remember we both started buying at around the same time and it has been a tortuous way down since late 2013 but I have to say I admire your conviction and wish I could say I have as many as you do!

To the moon!

Surely, Bitcoin continues to seem pretty solid technically, and in that regard, many of us who have been following BTC fundamentals sense that some day a fairly decent next price bubble will come. I had continued to believe that such next bubble would be in the $3000 arena... even though in recent months I have been thinking that potentially it could take a year or two to achieve such a $3k price point and maybe even such next bubble would have a peak (as suggested by masterluc) in the sub $1,200 arena.

I had some of my own unexpected financial circumstances during the beginning of this calendar year, which caused me to buy quite a few fewer btc in the $200 price arena than I would have otherwise expected, even though I bought quite a lot of btc in the $300s.... well in essence I had been buying all the way down, and hardly selling any, except maybe carrying out a few transactions and then replacing whatever BTC I had used to make any purchases.

Post: #2124

(07-15-2015 09:51 AM)SunW Wrote:  

(07-14-2015 08:20 PM)JayJuanGee Wrote:  It appears that my credit card charged me an extra 2.9% fee for this luxury. Hopefully, no other fees (hidden or NOT) will be added on to my total, and maybe it will be a fairly inexpensive mistake, especially, when, in the near future, the prices of BTC go to $10k plus... hahahahaha.

I hope it doesn't go to $10k any time soon, as many of us at BTCJam would lose quite a bit, since borrowers would see that it's more rational to default. A slow climb to $350 - $400 isn't bad, especially if over a few years. With an interest rate range on 5-10% on loans, and some appreciation in the currency, the lender makes a prettier penny than if he was in the S&P.

Now, what it will be in twenty to thirty years, after all the QEs, bailouts and possible fiat currency crises, remains to be seen, but I suspect that it will be much, much higher than now.

I do NOT disagree with your analysis SunW, except maybe I would characterize some of the financial markets a little differently.. and in that regard, even though the mainstream financial markets are likely to remain dominant in the next 30 years or so, as you suggested, but actually within those next 30 years, we are likely to have several periods of questionable confidences in such systems and crises that happen within such mainstream financial markets.

In other words, financial crises in mainstream are predictably unpredictable and sporadic and could happen at any time and cause some flocking to btc, crypto currencies and other assets that are potentially deflationary in nature. For example, there could be a mini explosion and devaluation in fiat confidence in the next 1-3 months that would extensively and meaningfully rock our worlds as we know it, which at the same time could cause a considerable appreciation (bubble) in the bitcoin space.

Post: #2125

(07-15-2015 10:14 AM)brg444 Wrote:  

(07-15-2015 09:51 AM)SunW Wrote:  

(07-14-2015 08:20 PM)JayJuanGee Wrote:  It appears that my credit card charged me an extra 2.9% fee for this luxury. Hopefully, no other fees (hidden or NOT) will be added on to my total, and maybe it will be a fairly inexpensive mistake, especially, when, in the near future, the prices of BTC go to $10k plus... hahahahaha.

I hope it doesn't go to $10k any time soon, as many of us at BTCJam would lose quite a bit, since borrowers would see that it's more rational to default. A slow climb to $350 - $400 isn't bad, especially if over a few years. With an interest rate range on 5-10% on loans, and some appreciation in the currency, the lender makes a prettier penny than if he was in the S&P.

Now, what it will be in twenty to thirty years, after all the QEs, bailouts and possible fiat currency crises, remains to be seen, but I suspect that it will be much, much higher than now.

There is simply no way, in my mind, that Bitcoin remains at 350-400$ in the coming years. That implies stagnation at at 5-6 B$ market cap and this would represent utter failure for Bitcoin from my point of view.

Bitcoin isn't built for "slow climbs". It has built in boom-bust cycles spawned by speculative manias following typical network technologies s-curve adoption models.

I will strongly reconsider my investment in Bitcoin if we haven't hit at least 10,000$ by the end of 2016.

I think that there is a lot of historical support for this theory, and it is a little bit more bullish than my own current point of view. Nonetheless, I will NOT complain too much, if at all, if I am wrong and if such an outcome (as you are suggesting, BRG444) were to take place in or before the end of 2016 (which also coincides with the next halfing).