Got this message from coinbase today:


Quote:

No Fees This Week When Buying Bitcoin with Euros One of the main benefits of bitcoin is that it allows people to take control of their own wealth. Recent events in Greece have brought attention to this situation as the Greek banks have closed and limited customers to withdrawing 60 Euros per day. We feel that all Europeans should educate themselves on the benefit of using a global currency that is not controlled by any particular country or company. As part of our effort to make it easy for anyone to buy and sell bitcoin all over the world, we’re pleased to announce that for the next week Coinbase customers buying and selling bitcoin with Euros will have their fees waived.

The rest is here:

https://blog.coinbase.com/2015/06/29/no-buysell-fees-in-europe-this-week/

Interesting.. with the mess going on around here, I've heard a lot of people talking about giving bitcoin a chance..

I haven't looked into it lately so does anyone know if it has been somewhat "stable" lately?

However there's this other thing.. while checking my web banking account I've noticed today that international bank transfers are blocked until further notice.. so I guess I couldn't use bank transfer for that purpose as well..  [smiley=sad.gif]

The same goes for PayPal as I can't TopUp my account without a bank transfer as well..

Thankfully I can load my Payza account as that seems to be an actual purchase instead of a transfer. But I'm not sure how usable my money will be there apart from the PTC industry..

Bitcoin has been somewhat stable in 2015. Somewhat being the keywork, and it registered a low on Jan 14 (164 USD) and a high in March 11 (292 USD). But it has been consistently above 200USD in the last trimester.

Yes, it has become quite stable recently. That could change if the financial markets go into turmoil though but I think the volatility will be in BTCs favor.

Here is a chart

https://www.coinbase.com/charts

I don't know if you can transfer from payza to BTC but I know for a fact you can transfer from BTC to payza. I was thinking of doing that myself

If you want to convert bitcoins online via paypal you can use this site. Since this may be more like a purchase as opposed to a money transfer, you might be able to get around your money rules

https://www.virwox.com

Here is a tutorial on how to do that

https://www.deepdotweb.com/buy-bitcoins-with-paypal-credit-cards/

moneymarketing wrote on 30^th Jun, 2015 at 6:55pm:

If you want to convert bitcoins online via paypal you can use this site. Since this may be more like a purchase as opposed to a money transfer, you might be able to get around your money rules https://www.virwox.com Here is a tutorial on how to do that https://www.deepdotweb.com/buy-bitcoins-with-paypal-credit-cards/

Well, it seems that they've locked us in completely..
We are no longer able to purchase anything outside of Greece not even using a credit card..
So, I'm glad I made my domain renewals and ad purchases during the weekend..
Also I managed to put some money on Payza as a backup.. but bitcoin is out of reach as well now..
Let's see how this week will go..

SolidSnake wrote on 1^st Jul, 2015 at 3:04am:

Well, it seems that they've locked us in completely.. We are no longer able to purchase anything outside of Greece not even using a credit card.. So, I'm glad I made my domain renewals and ad purchases during the weekend.. Also I managed to put some money on Payza as a backup.. but bitcoin is out of reach as well now.. Let's see how this week will go..

I am grieved for you my friend. I hate banksters.

And just when you thought it couldn't get any worse:

http://www.zerohedge.com/news/2015-06-30/greeks-nightmare-just-beginning-here-come-depositor-haircuts

By the way, this is not new. This is how these crooks operate. It is an age old gameplan HUNDREDS of years old. We need to educate people on how these crooks work or they will take it worldwide and do it to every person on the planet. These country by country takedowns are just the practice rounds. So warn and teach everyone who will listen

They call it your money until they mess up. Then they call it their money

Wow! TCFJI Is online.

If you want to understand the money system, read this:

https://archive.org/details/CreatureFromJekyllIslandByG.Edward-G.EdwardGriffin

If you want to understand how the bankers crashed the US markets in 1929 and brought about the great depression, read chapter 23 called the great duck dinner. Greece has just been invited to dinner this week. If you want a clear understanding of exactly what is happening, read chapter 23

I needed my first Bitcoins really quick, so I resorted to an exchanger called xbtc.co, which allows exchanging Paypal to Bitcoin, although the transfers are expensive and limited.
We're limited to 60NZD every 3 days and for exchanging 10USD, the fees were about 16%. So yeah, not something you'd use often, but does help in a pinch since the transfer can be as fast as a couple of minutes (it was for me).
It does have a kind of referral link (not really referral since you don't tecnhically sign up for anything) which does allow to earn some comssions from referral transactions. If you ever need to use it please tell me.

ruicarlov wrote on 26^th Apr, 2016 at 2:51pm:

I needed my first Bitcoins really quick, so I resorted to an exchanger called xbtc.co, which allows exchanging Paypal to Bitcoin, although the transfers are expensive and limited. We're limited to 60NZD every 3 days and for exchanging 10USD, the fees were about 16%. So yeah, not something you'd use often, but does help in a pinch since the transfer can be as fast as a couple of minutes (it was for me). It does have a kind of referral link (not really referral since you don't tecnhically sign up for anything) which does allow to earn some comssions from referral transactions. If you ever need to use it please tell me.

yes, it is advertised in the MTV monitor section. It was created by one of their members to fill a need and seems to be quite popular with many satisfied customers. The NZD is a bit of a puzzle. I wonder how many people they lost because they don't deal in USD? The double conversion must put off a lot of people.

That site will grow though. I have a gut feeling that it will be big (unless the 'authorities' go after it which is very possible)

I am in the big leagues of programmers now. I was able to change the subject to Bitcoin to make this thread more relevant.

OK, BTC is on the move again. Up $75 in a week. The 30 Trillion in Chinese savings is supposedly the reason...again

Chart

https://www.coinbase.com/charts

News

http://www.zerohedge.com/news/2016-05-28/bitcoin-soaring-unprecedented-burst-chinese-buying

BTC = 600.41!

[smiley=12-party.gif]

moneymarketing wrote on 4^th Jun, 2016 at 12:55pm:

BTC = 600.41! [smiley=12-party.gif]

Good. But you only make a profit if you sell though. Unless you're able to use the value of BTC in net marketing?

dansbanners wrote on 4^th Jun, 2016 at 4:35pm:

Good. But you only make a profit if you sell though. Unless you're able to use the value of BTC in net marketing?

true but it is not as much like a stock. Due to the depreciating value of currencies, the long term trend should be up. I use it as a hedge against the Canadian currency knowing the C$  is being devalued on a regular basis. It is a way to preserve my capital. The bitcoins I have I don't plan on selling for a long time or in the case of an emergency

If I need to use them in net marketing, I will convert them from C$ to BTC immediately so there is little risk in me losing significantly on the transaction.

One nice thing about coinbase is that they will give you a wallet for your currency and not just for BTC so if you need to make a large purchase, you can save up for it and then transfer it at the last moment. That way you cut out volatility

and also, if BTC goes to 50K I'll definitely be using it in my marketing  ;)

The halving is here

https://www.reddit.com/r/Bitcoin/

moneymarketing wrote on 9^th Jul, 2016 at 8:12am:

The halving is here https://www.reddit.com/r/Bitcoin/

bored  :(

;D

moneymarketing wrote on 9^th Jul, 2016 at 8:12am:

The halving is here https://www.reddit.com/r/Bitcoin/

What do you mean by halving?

dansbanners wrote on 11^th Jul, 2016 at 1:06pm:

What do you mean by halving?

Hi Dan,

I didn't see you question before. The halving is a planned event where bitcoin miners get their bitcoin mining fees reduced by half. It is supposed to slow down the amount of the remaining bitcoin (a finite amount) from being released to the network.

If you ask any further questions you'll probably be beyond my depth  :)

and this happened which knocked the currency to the mat

Bitfinex security breach: Trading will be halted as well as all crypto deposits/withdrawals

https://www.reddit.com/r/Bitcoin/comments/4vtuxo/bitfinex_security_breach_trading_will_be_halted/?sort=old

It is definitely still the wild west of currency

Ok thanks.

Quote:

European customers can now buy digital currency on mobile using debit and credit cards We're excited to announce that Coinbase customers in Europe can now buy digital currency on their mobile phones using a credit or debit card. Forty percent of debit and credit card purchases are done on mobile for our U.S. customers, and we are working diligently to make this service available in as many countries as possible. Our mission at Coinbase is to create an open financial system for the world, and enabling easy access to digital currencies like bitcoin and ethereum in as many countries as possible gets us one step closer to that goal.

more

https://blog.coinbase.com/2016/08/24/european-customers-can-now-buy-digital-currency-on-mobile-using-debit-and-credit-cards/

I still have the feeling coinbase is going to be the bitcoin version of PayPal but at this point it is still weak and harmless

moneymarketing wrote on 1^st Sep, 2016 at 11:11pm:

more https://blog.coinbase.com/2016/08/24/european-customers-can-now-buy-digital-currency-on-mobile-using-debit-and-credit-cards/ I still have the feeling coinbase is going to be the bitcoin version of PayPal but at this point it is still weak and harmless

Hmm.. those chills on the back of your head huh? :)

Well.. there can't be just 1 option for bitcoin so I don't think it can become another PayPal.. if a site is trusted it can always offer a more direct approach to its bitcoin customers, right?

The reason bitcoin was created was to allow a currency that belongs to everyone and noone at the same time, wasn't it?

SolidSnake wrote on 2^nd Sep, 2016 at 1:15am:

Hmm.. those chills on the back of your head huh? :) Well.. there can't be just 1 option for bitcoin so I don't think it can become another PayPal.. if a site is trusted it can always offer a more direct approach to its bitcoin customers, right? The reason bitcoin was created was to allow a currency that belongs to everyone and noone at the same time, wasn't it?

I use bitstamp mostly, and its a big exchange. It won't be easy having a monopoly on bitcoin transactions.

SolidSnake wrote on 2^nd Sep, 2016 at 1:15am:

Hmm.. those chills on the back of your head huh? :) Well.. there can't be just 1 option for bitcoin so I don't think it can become another PayPal.. if a site is trusted it can always offer a more direct approach to its bitcoin customers, right? The reason bitcoin was created was to allow a currency that belongs to everyone and noone at the same time, wasn't it?

In the early days of paypal, there were quite a few payment processors vying for online payment champ. Many failed but, because paypal had their act together, they became the go to processor. You guys probably remember that. There was paypal and there was everybody else.

Once paypal grew big and 'safe', that is when the money flowed in and they began to dominate

Well, I believe that coinbase is doing the same thing. We have many BTC exchanges but we also have many blowing up. Coinbase is the one that seems to have their act together the most at this point

They are also backed by a bank (which is, of course, counter to everything BTC stands for) but that also gives them the backing to build and add services. So that is actually helping to speed their growth. Once that takes place, then they can start marketing like mad and will be able to expand like crazy at some point.

They may even start buying other exchanges. Assuming they don't implode like others have I think they have a pretty large lead and are building that name recognition and 'safety' factor that people want for their money

I actually asked them if they offered shares to their customers because if they ever go public, the shares could really explode

Anyway, that is pretty much why I said what I said. I understand BTC is independent but I think CB offers and will continue to offer the best BTC services going forward

ruicarlov wrote on 2^nd Sep, 2016 at 4:14pm:

I use bitstamp mostly, and its a big exchange. It won't be easy having a monopoly on bitcoin transactions.

yes, that is another big one in the industry

BTC is really moving up nicely of late. Now it is near $800 US. I think it will be four figures next year and could go on a run if the world economy get into trouble. Considering it an investment and/or using it to store some of your savings could be a very lucrative move over the next decade  :)

:phew

I just sent half my coinbase bitcoin stash to bitstamp.

I feel a lot better now that I am diversified between two of them. I also have an outlet to my banks apart from payza. I think it is wise to always have at least two 'escape' hatches in case one gets shut down and you need the cash fast

So I think I'll use coinbase for transactions and bitstamp as a savings account

Quote:

Card Purchases for Bitcoin Now Available in the USA 11 MAY 2017 The recent upswing in the value of bitcoin, edging past $1,800 this week, has significantly increased demand for this digital currency here at Bitstamp. So, what better time to make buying bitcoin even easier for our US customers? That’s why we are delighted to announce that we have now added the USA to the list of countries where our customers can buy bitcoin by Visa or MasterCard credit/debit card.*

more....

https://www.bitstamp.net/article/card-purchases-bitcoin-now-available-usa/

Wow.. $1800?

I think I fell a little behind about it..  :o

SolidSnake wrote on 12^th May, 2017 at 8:54pm:

Wow.. $1800? I think I fell a little behind about it..  :o

Did you hear that Japan legalized the use of bitcoin? That's the number 3 economy in the world.

This is just getting started  8-)

Yeah. Japan's ATM machines too have the option to convert, I heard. (Some have 2 way functions - sending / receiving bitcoins.) My brother just returned from Japan.

The Yen-Bitcoin Carry Trade

http://investmentwatchblog.com/the-yen-bitcoin-carry-trade/

moneymarketing wrote on 22^nd May, 2017 at 7:55pm:

The Yen-Bitcoin Carry Trade http://investmentwatchblog.com/the-yen-bitcoin-carry-trade/

Wow... really what would you say about it right now, with your experience in the field?

Aren't the chances of both exploding to $5000+, almost as high as a sudden drop to half its value?  :)

(Don't worry I'm not "wide enough" to invest in it right now, so I'm just wondering..)

SolidSnake wrote on 24^th May, 2017 at 12:16am:

Wow... really what would you say about it right now, with your experience in the field? Aren't the chances of both exploding to $5000+, almost as high as a sudden drop to half its value?  :) (Don't worry I'm not "wide enough" to invest in it right now, so I'm just wondering..)

I think it will go much higher than 5K. I'm targeting 25K. This hasn't even hit the general public phase yet. I don't know if you remember the Inet boom but once it caught the public's attention, then people started paying stupid amounts for some stocks. Even the fibre stocks exploded and BTC is more like fibre. Has paypal been advertising in your country? Because I'm seeing advertising all over the place for them. I think they are seriously starting to get worried because BTC can and probably soon will surpass them. I also think BTC will be a serious challenge to credit cards.

The banks, for the first time in our lifetimes, have some serious competition. Many people, if they could, would drop the banks in a heartbeat just to spite them.

With the way central banks have been acting of late, they play like they own the world. BTC is like a black swan in their world and it is the one security at this point that they cannot control. So anybody who is against central banking is going to jump on this. Once they start telling their friends how much they are making, then the interest will spread

Check this out to see what BTC can do for companies

Is The Blockchain About To Disrupt This $7 Trillion Industry?

http://www.zerohedge.com/news/2017-04-28/blockchain-about-disrupt-7-trillion-industry

Just think about that. $7 trillion.

If I were to advise, and of course be very careful about who you listen to including me, but I would say put between 1% and 5% of your net worth into this. If you can risk the 5%, I believe you will get a 10 fold gain on it but at least make sure you have 1% and treat it as your end of the world money

BTW, BTC is currently about a $60 billion market.

If it can go to $1 trillion. That is about $50K each

and another thought. What if Ebay and Amazon adopted bitcoin? I think they will eventually though Ebay's relationship with paypal will make that harder but I think they will eventually be forced to due to customer demand

:money

moneymarketing wrote on 25^th May, 2017 at 8:47am:

and another thought. What if Ebay and Amazon adopted bitcoin? I think they will eventually though Ebay's relationship with paypal will make that harder but I think they will eventually be forced to due to customer demand :money

That would be a major breakthrough!

I'm all in for that!  :cool1

We are at the public educational stage. I'm seeing more and more articles on BTC and why it is relevant to our internet based world.

An old trading saying is this (back when newspapers were relevant for us old guys  ;D )

Buy when it is written about on page 18, sell when it is written about on page 1

I'm thinking we are at about page 8 at this point

Did you know you could trade bitcoin at Etoro?

This I might start doing  :money

Wow!

$3000

:o

Bitstamp just announced a BTC to litecoin pairing. This should be good for trading

bitcoin basics

For anyone who doesn't know the basics or knows someone who wants to know the basics

Also here's a site to watch the fluctuations of the BTC/USD ratio live:

BTC:USD Live

SolidSnake wrote on 12^th Sep, 2017 at 12:57pm:

Also here's a site to watch the fluctuations of the BTC/USD ratio live: BTC:USD Live

Very well made though I felt my bandwidth bleeding away as I watched  :)

moneymarketing wrote on 12^th Sep, 2017 at 5:43pm:

Very well made though I felt my bandwidth bleeding away as I watched  :)

Oh, yes.. with such sites you are better off to use with a cable connection.. not mobile data. :)

SolidSnake wrote on 12^th Sep, 2017 at 7:09pm:

Oh, yes.. with such sites you are better off to use with a cable connection.. not mobile data. :)

I have cable but it is capped so I need to keep an eye on it

moneymarketing wrote on 12^th Sep, 2017 at 7:22pm:

I have cable but it is capped so I need to keep an eye on it

Wow.. why do people do that to us.. I think I'd pick even a slower connection that's unlimited than a super fast but limited anytime..

In Greece our mainstream speeds are currently at 50 Mbps vDSL (@ €30/month), it's not available everywhere.. but at least all cable connections are unlimited.

We only have limits in mobile data and I still thing it's outrageous and kind of ancient..
I mean.. we don't live in caves anymore.. so why should our connections be limited?   ;D

SolidSnake wrote on 12^th Sep, 2017 at 8:26pm:

In Greece our mainstream speeds are currently at 50 Mbps vDSL (@ €30/month), it's not available everywhere.. but at least all cable connections are unlimited.

Same here. I think operators in EU countries follow simillar guidelines, thanks to the EU's regulatory framework for electronic communications.

Sucks to be on the other side on the Atlantic, sometimes  :P

ruicarlov wrote on 13^th Sep, 2017 at 1:26pm:

Same here. I think operators in EU countries follow simillar guidelines, thanks to the EU's regulatory framework for electronic communications. Sucks to be on the other side on the Atlantic, sometimes  :P

Canada has been slow on this because we are dominated by a few big carriers and the small ones that buy from them. You can get unlimited but I'm on an old contract and I don't want to spend the extra money because I don't need it (you get tight fisted when you get older )

I could actually move to a higher data contract for cheaper but then I'd need to go with a smaller carrier which means having a tech show up at my place, changing over my emails and all the other hassles of moving service. So I'm thinking if I move my place I'll go with a better contract

Until then, I'll stick with my dinosaur contract

moneymarketing wrote on 13^th Sep, 2017 at 6:47pm:

Canada has been slow on this because we are dominated by a few big carriers and the small ones that buy from them. You can get unlimited but I'm on an old contract and I don't want to spend the extra money because I don't need it (you get tight fisted when you get older ) I could actually move to a higher data contract for cheaper but then I'd need to go with a smaller carrier which means having a tech show up at my place, changing over my emails and all the other hassles of moving service. So I'm thinking if I move my place I'll go with a better contract Until then, I'll stick with my dinosaur contract

Well.. if you don't need more then there's no reason to pay for more.. :)
A dinosaur contract makes sense in this case..  ;D

So.. to stick to the topic.. I see the Bitcoin price has dropped below 4k, so my cash will probably be stuck in BTC for a while..  :'(

SolidSnake wrote on 13^th Sep, 2017 at 11:48pm:

Well.. if you don't need more then there's no reason to pay for more.. :) A dinosaur contract makes sense in this case..  ;D So.. to stick to the topic.. I see the Bitcoin price has dropped below 4k, so my cash will probably be stuck in BTC for a while..  :'(

It may not. It has been quite resilient.

So here is a mental exercise for you. I think you have said in the past you might be interested in trading. So lets use this BTC example. Your BTC has dropped. You have some cash. An equal amount as you put into the BTC trade.

What should you do with it and your BTC stake? It can only go up, down or nowhere (sideways).

What should you do with your cash and your stake based on what you think you should do in all three cases?

In other words if it can go up, what do you do (buy, hold or sell which stake, cash or BTC). Down, what do you do? Sideways, what do you do?

I taught myself this exercise for trading as a way to force my decisions

Lol.. thankfully there was a backup plan for me..  :P

I simply deposited my BTC to FC.. even at the lower value.. my loss was $10 but the moment I deposit that, I achieve a new clicker level so I get an instant $10 bonus.. so my loss is covered by the bonus..

And I'll still benefit from investing it in shares there, so I'll get another 20% off it.. so it's not that bad after all..

It's better than keeping it locked in BTC whether it goes up or down.. its value only goes up this way (provided the system continues to work).
My initial goal was to use it as a way to benefit from the 15% bonus from the BTC deposit promo, but failed to catch it due to my lack of knowledge.. but I'm ready for the next time now.

Some of the benefits are that I now know how BTC works, what the risks are, plus that I got it without suffering a loss due to the price drop using FC as a way out. :)

Now as to your question, I remember the method of splitting my budget in smaller amounts and buy at steps when the price drops while selling as the price climbs. :)

For now it seemed reasonable enough to bail while I still can.  :P

SolidSnake wrote on 14^th Sep, 2017 at 3:13pm:

Lol.. thankfully there was a backup plan for me..  :P I simply deposited my BTC to FC.. even at the lower value.. my loss was $10 but the moment I deposit that, I achieve a new clicker level so I get an instant $10 bonus.. so my loss is covered by the bonus.. And I'll still benefit from investing it in shares there, so I'll get another 20% off it.. so it's not that bad after all.. It's better than keeping it locked in BTC whether it goes up or down.. its value only goes up this way (provided the system continues to work). My initial goal was to use it as a way to benefit from the 15% bonus from the BTC deposit promo, but failed to catch it due to my lack of knowledge.. but I'm ready for the next time now. Some of the benefits are that I now know how BTC works, what the risks are, plus that I got it without suffering a loss due to the price drop using FC as a way out. :) Now as to your question, I remember the method of splitting my budget in smaller amounts and buy at steps when the price drops while selling as the price climbs. :) For now it seemed reasonable enough to bail while I still can.  :P

It sounds like you have it quite under control.

Just don't panic and think long term. I think this is still a buying opportunity but governments are starting to react which means they are quite threatened by this. That's a great sign. Usually they ignore us  [smiley=lolx.gif]

So.. it did climb above $4000 again.. :)

It's funny how quickly things change in the currency exchange market..

I still believe it is going to 50K  :money 8-)

SolidSnake wrote on 19^th Sep, 2017 at 1:01am:

So.. it did climb above $4000 again.. :) It's funny how quickly things change in the currency exchange market..

This is actually called price discovery

http://www.investinganswers.com/financial-dictionary/economics/price-discovery-3069

It is healthy but it is very rare in the markets because the Central Banks have been working for the last 20 years or so to eliminate it and manipulate markets completely by money printing and purchases and creation of debt

All the gyrations are actually the manipulators trying to manipulate. If they weren't playing their games, the price would probably be a lot more stable

So, after using Payza for a second Bitcoin transaction (it all went smooth this time), I've got to a point that I need a better middle-man that doesn't rob me every time I send btc to someone..  ;D

I'd like to keep BTC as an option but Payza keeps 0.001 BTC (~$5) on every payment which is kinda outrageous when dealing with small amounts..

The fees are a bit less if I receive money in BTC and then convert to USD within Payza balances but I won't be able to withdraw for long without depositing through BTC as well.

So, what's the best bitcoin processor that has the lowest sending fees so far?

SolidSnake wrote on 30^th Sep, 2017 at 12:00pm:

So, after using Payza for a second Bitcoin transaction (it all went smooth this time), I've got to a point that I need a better middle-man that doesn't rob me every time I send btc to someone..  ;D I'd like to keep BTC as an option but Payza keeps 0.001 BTC (~$5) on every payment which is kinda outrageous when dealing with small amounts.. The fees are a bit less if I receive money in BTC and then convert to USD within Payza balances but I won't be able to withdraw for long without depositing through BTC as well. So, what's the best bitcoin processor that has the lowest sending fees so far?

I've hear Euros rave about bitstamp. Not being a Euro I don't know how it would be for you. I've also heard good things about Kraken

I use coinbase but I wouldn't recommend it. I've heard some horror stories on reddit about withdrawal issues. I don't know if it is accessible to Euros

Edit: I'm not so concerned about withdrawal and transfer fees at this point because I quit using BTC in commerce. It is strictly an investment for me now. I only use it in commerce if there is no other option. It is way too volatile to use for that. Plus the fees as you say and if I do turn it into cash I'll need to declare it on my tax returns like all good former boy scouts

BTC is still going through its growing pains so I suggest treating it very cautiously

moneymarketing wrote on 14^th Sep, 2017 at 8:49am:

So here is a mental exercise for you. I think you have said in the past you might be interested in trading. So lets use this BTC example. Your BTC has dropped. You have some cash. An equal amount as you put into the BTC trade. What should you do with it and your BTC stake? It can only go up, down or nowhere (sideways). What should you do with your cash and your stake based on what you think you should do in all three cases? In other words if it can go up, what do you do (buy, hold or sell which stake, cash or BTC). Down, what do you do? Sideways, what do you do? I taught myself this exercise for trading as a way to force my decisions

Actually, this is a good time to revisit this theory.

Since the price has returned to its value this shows why these are good questions to ask yourself as a trader.

So the price is at $4300.

Let's say you had bought at $4300 and the price dropped to $3500. Do you buy, sell or hold?


If you say hold, then you are really saying you don't believe the price will go down further. If you do think the price will go down further, then you should really sell and then determine if you want to buy in later at a lower price. That makes sense right?

So if you don't think the price will go down further and you want to hold, then what you are really saying is that the price will stay flat for a time or will go up again. If you honestly think the price will go flat for months or years, then you should sell and put that money to work someplace else. Otherwise, inflation will erode its value and you will lose potential gains somewhere else (otherwise known as opportunity cost)

If you think the price will return to its original value at $4300 where you will breakeven, then what you are really telling yourself, is that you should buy. Because, with a stake at $4300 and a stake at $3500, the value of the two back at $4300 will give you a gain over that time. Not only will you have lost nothing, you will have gained.

If you just wait for your stake to return to its original value, you would have lost time and money due to inflation

So to recap.

If it goes down and you don't want to buy more because you think you can lose more, then you should sell your original stake.

If you want to hold thinking it will stay there you should sell and invest somewhere else.

If you want to hold and wait for breakeven you should buy more. Your breakeven will be lower and your old breakeven will give you a gain

So if you had bought more when it dropped below $4000, you would be sitting on a nice gain as it is now at $4300.

So assuming you bought and are sitting on a gain, do you now sell, hold or buy more?  [smiley=lolx.gif]

And thus the cycle starts again

So you see, being a trader is about asking yourself the right questions. Most people, when their stock drops ask themselves the wrong questions

I've recently come to realize that I'm not much the guy that works well with stock trading.. so I kind of avoid getting myself in that position.. ;D

Especially with such a new "currency" like bitcoin I definitely don't wanna lock myself in..
If it was like EUR vs GBP vs USD.. where there is a history to study and form a strategy because they don't fluctuate that much, i could think about it.

However I now know that there are much more profitable ways to invest my money in with less risk.. so there's really no reason to get into it.

BTC maybe prove to be a huge bubble after a few years.. we can't know for sure..

I personally doubt it though - I think it will eventually dominate more markets due to its country border-less nature..
With very little control from authorities.. or banks it's a "power-to-the-people" thing that attracts a lot of attention.

So I think the future lies there, but since my funds are limited, I'd like to support it but I'm not the one to risk it further.. I prefer to put them to better and more stable use.

I feel like using bitcoin just to prevent fees, cause the main reason I withdraw is to re-invest.
Most of the times on FC I cashout just to put the cash back in and benefit from the bonuses.

If there is a processor that has lower fees than Payza for this specific purpose I'd like to use that instead.
If I need to cashout, to withdraw some funds to my bank account I'd probably not use Bitcoin, unless there is a very good option with very low fees.

Which is what I'm looking for right now.. :)

I think you probably want to check out bitstamp if it is available in your country

moneymarketing wrote on 1^st Oct, 2017 at 2:57am:

I think you probably want to check out bitstamp if it is available in your country

Looks ok, does it offer any kind of affiliate program or that's irrelevant to even ask?  :-?

Not that I know of.
It's pretty nice in terms of exchange fees. I'm now using it all the time, since I make withdraws and deposits to almost all PTC sites through Bitstamp.

So, how does it work with the pay processors involving bitcoins?

dansbanners wrote on 13^th Oct, 2017 at 3:31pm:

So, how does it work with the pay processors involving bitcoins?

Since the question is mostly regarding Bitcoin I moved it here in order to be easier to find.

There are sites like typical payment processors that work with Bitcoin that are usually called Bitcoin wallets.

With that in mind, they work pretty much like normal wallets..
Since Bitcoins are not a physical currency to put in your real wallet, you need a virtual wallet to hold them there.

Only difference is that whenever you open it to pull out some cash and pay someone, they tend to hold a fee.
But there are no fees when the money is incoming.

Since, I've only used Payza so far.. I can only help with that one.
To perform a payment through Bitcoin, you need to have a Bitcoin balance and the amount you have to pay, available there plus a fee of 0.0005 BTC.

You can click on Exchange, to transfer money from your USD balance to your BTC balance but here's also a catch.. The amount you sell the Bitcoin is not the same as you buy it. So, converting USD to BTC is happening at a reduced value than the current one, while the opposite is normal.

Then if you have made that amount available in your USD balance, you click on "Withdraw Funds", then enter the address of the seller, and the amount you wish to send him (including the 0.0005 BTC fee). Payza will hold the fee and send the exact amount to the seller.

Then the seller's middle man (Bitcoin Wallet/Processor) will confirm the transaction and you're done.

To get paid directly in BTC you need to go to your "Wallet" section and select "Cryptocurrency Address Manager". You can generate a new address there (that's a unique alphanumeric code and a qr that points to it). You can set this address at each program's account settings where the Bitcoin address field is. And you can use different addresses for each program (for tracking purposes).

Others, may help with other Bitcoin Wallets..

As SS says most site formats are similar so it is just a matter of who you want to give your fees to

I'd say Payza is one of the easier ones from a versatility standpoint. You can do almost anything with it from credit card deposits to bank deposits to bank withdrawals. The downside is the fees and exchanges that take a little bit each time in many cases.

What does one pack buy? How much bitcoin does it involve to buy one pack? And about how much is it in terms of dollars?

And once you buy a pack using bitcoins, then does it work like it does in FamilyClix? That is a 120% return after a certain number of days? Or I could use the bitcoins balance to purchase more shares and so forth?

dansbanners wrote on 13^th Oct, 2017 at 5:53pm:

What does one pack buy? How much bitcoin does it involve to buy one pack? And about how much is it in terms of dollars? And once you buy a pack using bitcoins, then does it work like it does in FamilyClix? That is a 120% return after a certain number of days? Or I could use the bitcoins balance to purchase more shares and so forth?

https://image.prntscr.com/image/zoiTqQsaQTyw17JsDjVt6g.png

I'm still waiting for my first payout but it will be a number of satoshi that will work out to a percentage of your original .001 BTC invested

It is paid daily like FC but in BTC and you can compound that

$7000  :o

moneymarketing wrote on 2^nd Nov, 2017 at 6:43pm:

$7000  :o

..and some people around me called me crazy when I told them it crossed 5000 and I still got into using it..  :)

SolidSnake wrote on 2^nd Nov, 2017 at 7:16pm:

..and some people around me called me crazy when I told them it crossed 5000 and I still got into using it..  :)

Now you know how I felt at $3000  [smiley=lolx.gif]

BTW, rumors are swirling that amazon is close to integrating.

Almost $10000..  :o

Do you think we're gonna see a drop once it hits that goal?

I'm thinking of converting some USD to BTC to deposit at FBTC.. so could this be a bad timing?

SolidSnake wrote on 27^th Nov, 2017 at 6:13am:

Almost $10000..  :o Do you think we're gonna see a drop once it hits that goal? I'm thinking of converting some USD to BTC to deposit at FBTC.. so could this be a bad timing?

The way it is rising it looks like it is entering the mania phase. This is similar to the internet stocks in the late '90's.

It is starting to catch the attention of the general public

I'd be careful about buying more. What you might want to do is look into buying some of the alt coins like litecoin or etherium. Then as the three rise at different rates you can trade between the three

But FamilyBTC only accepts BTC..  :dontknow

SolidSnake wrote on 27^th Nov, 2017 at 11:11am:

But FamilyBTC only accepts BTC..  :dontknow

Ha! Some how I missed that part. Guilty of hitting reply before getting through again. Yes, I'd recommend that. As a matter of fact, I'm thinking of depositing some of my BTC into FBTC myself. We may as well right? I think it is safe to assume they are not lying about the miners and if they are buying them for US$ then they site is very sustainable as the price of BTC rises. Plus we are getting a return on our BTC even if the price does not rise.

There is a high reward to risk in that move. I'd say about 4:1 of chances of positive to negative things happening.

So I hope you are still upgraded because I am choosing FBTC for my 'big risk' this year. I usually take a big risk on one trade for the year. A few years ago it was MTV which didn't work out too well but it produces cash flow. The last couple it has been BTC which paid off spectacularly so I figure I'll stick with the same theme but in a slightly different way and put some more in FBTC  [smiley=thumbsup.gif]

moneymarketing wrote on 27^th Nov, 2017 at 5:38pm:

Ha! Some how I missed that part. Guilty of hitting reply before getting through again. Yes, I'd recommend that. As a matter of fact, I'm thinking of depositing some of my BTC into FBTC myself. We may as well right? I think it is safe to assume they are not lying about the miners and if they are buying them for US$ then they site is very sustainable as the price of BTC rises. Plus we are getting a return on our BTC even if the price does not rise. There is a high reward to risk in that move. I'd say about 4:1 of chances of positive to negative things happening. So I hope you are still upgraded because I am choosing FBTC for my 'big risk' this year. I usually take a big risk on one trade for the year. A few years ago it was MTV which didn't work out too well but it produces cash flow. The last couple it has been BTC which paid off spectacularly so I figure I'll stick with the same theme but in a slightly different way and put some more in FBTC  [smiley=thumbsup.gif]

Thanks for the boost once again! :)

I did deposit some on FamilyBTC as well, so thanks for the bonus, I've reinvested everything to compound my growth!

SolidSnake wrote on 28^th Nov, 2017 at 1:26am:

Thanks for the boost once again! :) I did deposit some on FamilyBTC as well, so thanks for the bonus, I've reinvested everything to compound my growth!

I am too. Up to 2 shares per day now and seeing no reason to put that profit anywhere else. At the very minimum....wait for it.....it will be a great advertising source  [smiley=lolx.gif]


....that is it will be for every kid that is turning 18 this year which is more than everyone in mlm combined  [smiley=lolx.gif]

:mon_eyes$10,000!:mon_eyes

Interestingly there's no sudden drop or bubble popping even though it's crossed $10000.. :)

Looks like people don't have that much of an interest in selling their precious BTC..

Or at least that's just a relaxing thought I'm feeding my mind with..  :D

SolidSnake wrote on 29^th Nov, 2017 at 10:40am:

Interestingly there's no sudden drop or bubble popping even though it's crossed $10000.. :) Looks like people don't have that much of an interest in selling their precious BTC.. Or at least that's just a relaxing thought I'm feeding my mind with..  :D

Usually when one of these markets explodes the government institutions can act to slow it down but because it is a completely unregulated market, a true free market, there is nothing they can do. This really is the first free market in decades and people are going to need to get accustomed to it's 'wild' nature

And wow.. that was a nerve-breaking drop today @ ~$7500..  :phew

SolidSnake wrote on 2^nd Feb, 2018 at 3:21pm:

And wow.. that was a nerve-breaking drop today @ ~$7500..  :phew

Yes, it is affecting the stock markets too. It is a sign that liquidity is drying up but the central banks could turn the printing presses on at any moment

There will be sizable drops and ups in bitcoin development. They all are talking that bitc is only a bubblt but we know  :) Btw, wanna buy a hardware wallet and found something like that https://bitcoinbestbuy.com/wallets/bitcoin-hardware-wallets/ but can't choose. Any advises?  ::)

It seems nowadays Bitcoin has somewhat stabilized to around $6500 sometimes it drops a bit below $6000 sometimes it climbs a bit above $7000 but usually it comes back to $6500.

Also, I've got to use the Electrum wallet. It seems to be a good solution if someone likes to use a convenient online wallet, so that he doesn't have to download or update the full blockchain that is kind of huge in disk space.

It does provide easy to use labels for transactions, new address for each one, strong password protection, and I'm reading a lot of positive reviews about it. I've been using it for a few months now without issues.

However for large amounts (etc. 1 full BTC and more) everyone recommends getting a hardware cold storage and using paper wallets as well.

SolidSnake wrote on 17^th Sep, 2018 at 10:18am:

It seems nowadays Bitcoin has somewhat stabilized to around $6500 sometimes it drops a bit below $6000 sometimes it climbs a bit above $7000 but usually it comes back to $6500. Also, I've got to use the Electrum wallet. It seems to be a good solution if someone likes to use a convenient online wallet, so that he doesn't have to download or update the full blockchain that is kind of huge in disk space. It does provide easy to use labels for transactions, new address for each one, strong password protection, and I'm reading a lot of positive reviews about it. I've been using it for a few months now without issues. However for large amounts (etc. 1 full BTC and more) everyone recommends getting a hardware cold storage and using paper wallets as well.

It's a good sign that it has found a floor but I think the big players have taken control of the market. For that reason, as they have done to the gold market, I don't think it will be going anywhere soon

At least they are keeping it stable for the PTCs to use as a proper currency

I dodged a bullet on this one. Two days ago I converted all my BTC to € as I'm expecting needing that money soon. Today BTC price has lowered by over 800$.

:phew

ruicarlov wrote on 15^th Nov, 2018 at 2:11pm:

I dodged a bullet on this one. Two days ago I converted all my BTC to € as I'm expecting needing that money soon. Today BTC price has lowered by over 800$. :phew

So you're the guy that killed the price  [smiley=lolx.gif]

ruicarlov wrote on 15^th Nov, 2018 at 2:11pm:

I dodged a bullet on this one. Two days ago I converted all my BTC to € as I'm expecting needing that money soon. Today BTC price has lowered by over 800$. :phew

I knew it had to be you...

So I'd like to... well... thank you!  :cool1

I had requested a cashout on YGP which if I had been receiving, while the bitcoin price was still up at $6500, would equal to ~0.005862 BTC, now I received ~0.006797 BTC.

So, if the price jumps up to 6500 again, I'll be able to convert that $37.20 that I requested to ~$44 which almost beats my withdrawal fees. That would be a good bonus..  ;)

Hmm... Rui I think it's time you stopped adjusting the BTC price.. it dropped to less than $4500 now.. haven't you had enough?  ;D

So, do you guys think Black Friday has to do with it? (apart from Rui's super powers  ::) )

SolidSnake wrote on 21^st Nov, 2018 at 10:13am:

Hmm... Rui I think it's time you stopped adjusting the BTC price.. it dropped to less than $4500 now.. haven't you had enough?  ;D So, do you guys think Black Friday has to do with it? (apart from Rui's super powers  ::) )

There is a war at bitcoin cash right now and it is destroying confidence. Plus many miners went below the cost of energy to mine so many of them are dropping out. Add to that the psychology issue of what can't be pushed up usually turns down. Markets seldom go flat except at extreme bottoms and I don't know if BTC has found its bottom yet


I was getting paid in BTC at r4a but I might hold my earnings on site in US$ for the time being at least until this shakeout finds some support

SolidSnake wrote on 21^st Nov, 2018 at 10:13am:

Hmm... Rui I think it's time you stopped adjusting the BTC price.. it dropped to less than $4500 now.. haven't you had enough?  ;D So, do you guys think Black Friday has to do with it? (apart from Rui's super powers  ::) )

Bitcoin is just like a guy standing atop a steep slope. I just gave a slight nudge  ::)

Trading is very much like an animal.

If it is running, try to climb on top of it.

If it is thrashing or dying, don't touch it until it stops.

If it is not moving, try and turn it into food

One Year After Dimon Slammed Bitcoin As A "Fraud", JPM Launches Own Cryptocurrency

https://www.zerohedge.com/news/2019-02-14/jp-morgan-becomes-first-bank-launch-its-own-cryptocurrency

[smiley=lolx.gif] [smiley=lolx.gif] [smiley=lolx.gif]

moneymarketing wrote on 14^th Feb, 2019 at 6:07pm:

One Year After Dimon Slammed Bitcoin As A "Fraud", JPM Launches Own Cryptocurrency https://www.zerohedge.com/news/2019-02-14/jp-morgan-becomes-first-bank-launch-its-own-cryptocurrency [smiley=lolx.gif] [smiley=lolx.gif] [smiley=lolx.gif]

There is a Greek saying for this one..

Translated to English it goes close to this:

'Better have a big mouthful than saying a big word"..  ;)

So, Bitcoin seems to be seeing a new uphill trend above 5000s...

Is this for a reason I'm missing or it's just BTC doing its stuff?  :)

I haven't been keeping up with the news lately..

SolidSnake wrote on 23^rd Apr, 2019 at 12:36am:

So, Bitcoin seems to be seeing a new uphill trend above 5000s... Is this for a reason I'm missing or it's just BTC doing its stuff?  :) I haven't been keeping up with the news lately..

It looks like it has turned a corner. I think we will start seeing more positive news re. payment solutions but nothing solid has been announced. We've crossed the 200-day moving average to the upside.

Countries like Venezuela and others with poor currencies could jump on it as an alternative. There is lots of talk about that

Take it for what it is but be cautious above 6k

I'm still taking earnings in the form of BTC and accumulating what I don't reinvest

moneymarketing wrote on 24^th Apr, 2019 at 7:29am:

It looks like it has turned a corner. I think we will start seeing more positive news re. payment solutions but nothing solid has been announced. We've crossed the 200-day moving average to the upside. Countries like Venezuela and others with poor currencies could jump on it as an alternative. There is lots of talk about that Take it for what it is but be cautious above 6k I'm still taking earnings in the form of BTC and accumulating what I don't reinvest

How is BTC being accepted in Greece SS?

moneymarketing wrote on 24^th Apr, 2019 at 3:47pm:

How is BTC being accepted in Greece SS?

There used to be a rage around here last year.. everybody (!? means the few that had heard about bitcoin) went off to buy graphics cards and build mining rigs..

But eventually they turned to selling them when the rates dropped.. :)

As for acceptance.. I guess more than 90% are completely unaware of crypto-currencies..
The rest are too afraid to touch it and some 1% (including me) may be actually be using it as a secondary currency..

But there are actually some Greek e-shops accepting it as a means of payment.. though countable using our fingers.
One reason for not being too loud about it here is the taxes matter...

If they decide to tax transactions through BTC we're doomed..
Regular tax amount in Greece is 24%.. which is why very few companies survive the legal way.

If BTC grows more stable it could prove to be a tax haven for us.. but we're still far from it being accepted massively.

The btc dog is running again

moneymarketing wrote on 26^th Jun, 2019 at 4:15pm:

The btc dog is running again

Yeap, I noticed and I'm like.. "Here we go again.."

Too bad my YGP payment got delayed these days... I could benefit a few bucks from the climb. :)

This could be significant...and just before the halving.

https://www.zerohedge.com/crypto/cryptos-are-surging-bitcoin-2-month-highs-after-cme-options-start-trading

The big boys can cram a lot of volume into those 21 million BTC

BTC crossed $11.000 again?

I noticed LTC is also on the climb today so it got me to check BTC as well.

Is this based on some reason?

SolidSnake wrote on 28^th Jul, 2020 at 7:40pm:

BTC crossed $11.000 again? I noticed LTC is also on the climb today so it got me to check BTC as well. Is this based on some reason?

US banks were given permission to hold BTC. This could be significant

moneymarketing wrote on 28^th Jul, 2020 at 10:56pm:

US banks were given permission to hold BTC. This could be significant

Great! I knew I was missing something here.. :)

Bitcoin fees keep rising to astronomical levels. Reminds me of the last bull run when it got close to 20k but you had to pay like at least $20 to send any amount.
I'd suggest avoiding any BTC transaction at least for now. It's a good time to "hodl" though as my gut feeling tells me it's going to increase a whole lot more.
You can stay up-to-date with the fees by following https://bitcoinfees.net/

We kinda noticed that when we were trying to add funds to ITB. No matter where it cost so much in fees to buy their TPOs. Good thing litecoin was there to save the day  ;)

rotate4all.com wrote on 5^th Aug, 2020 at 11:32pm:

Bitcoin fees keep rising to astronomical levels. Reminds me of the last bull run when it got close to 20k but you had to pay like at least $20 to send any amount. I'd suggest avoiding any BTC transaction at least for now. It's a good time to "hodl" though as my gut feeling tells me it's going to increase a whole lot more. You can stay up-to-date with the fees by following https://bitcoinfees.net/

You might want to add litecoin as those fees tend to be cheaper. I requested BTC on my last cashout because the MTV network doesn't take skrill and I am going to push more of my advertising their way

Quote:

Among the many reasons for cryptos recent rise, Galaxy Digital's Mike Novogratz told CNBC this morning that the latest round of stimulus checks - and promises of even more to come under a Biden administration and now Democrat rule - could be further fuel for the rise in Bitcoin...     "A lot of that [stimulus] will find it's way into the markets. Certainly, when it comes into young people's hands, they're going right to their Robinhood accounts. One of the most unique things last time was seeing how many people bought Bitcoin with the exact amount of stimulus. Boom, boom."

So much for people being desperate for money.

;D

So.. it seems BTC is hitting 50k USD?

I lost them somewhere around 30k and all of a sudden I see it 20k more.. :o

SolidSnake wrote on 15^th Feb, 2021 at 5:47pm:

So.. it seems BTC is hitting 50k USD? I lost them somewhere around 30k and all of a sudden I see it 20k more.. :o

Yes, I predicted it would go to 50K when it was still triple digits but it really popped in the last while after some of the big corps finally got on board. Rumors are that apple might be the next to announce which should rocket it even higher.

Hey Dan,

Are you able to trade or access crypto in your Paypal account yet? I'm not sure if they have given access to US members. I can't find anything on their site about it.

moneymarketing wrote on 5^th Jul, 2021 at 2:20am:

Hey Dan, Are you able to trade or access crypto in your Paypal account yet? I'm not sure if they have given access to US members. I can't find anything on their site about it.

I haven't thought about it. Why?

dansbanners wrote on 5^th Jul, 2021 at 1:39pm:

I haven't thought about it. Why?

It will make integration with DLF much easier since they pay in paypal but my ads for them are bought with crypto. The resource will track a lot better if they are the same 'currency'. I don't care where I hold the crypto, just as long as it is both the same currency so that it works as a hedge.