Bitcoin Advise

Bigpapapump

Bigpapapump

Member
Oct 9, 2016
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0
Ok so I'm totally green to Bitcion. Just linked with the Coinbase app because so many take it and are using it. I have not deposited anything in it because I wanted to wait until I need some gear.

So is there any advice you can give me from getting in trouble or extremely frustrated with the whole thing?? It seems the rate to buy coins fluctuate daily?? Is it like the stock market? Is it easy to get the funds back into your account? Really any advice would help. I'm getting to Old for this new technology LOL

Thanks in advance guys
 
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Having issues now with a credit card its instant but low limits and most card holders will constantly flag your transaction and you will have too call every time too authorize the transaction with a bank account you have too wait six days too get your bitcoin I'm starting too really not like the whole thing .

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Gymjunkie38 said:
Having issues now with a credit card its instant but low limits and most card holders will constantly flag your transaction and you will have too call every time too authorize the transaction with a bank account you have too wait six days too get your bitcoin I'm starting too really not like the whole thing .

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Click to expand...

Mine (Coinbase) is linked to my credit card but funds always come directly out of my account. I think the credit card is just a back up. The first few times took like 5 days but The more you use it the more verification you get. I've bought up to 1k instantly.
 
My last two transaction were a nightmare with the card company shutting me down and having too call then Coinbase locked me out for trying too many times .so I linked it too my bank account through the routing number direct and when I need too place an order it told me my bitcoin would be there in 6 days . I can't buy bitcoin 6 days in advance most of my orders are for other people and there is a lot of gear floating around the gyms I go too If I make it a huge inconvenience for people they will go elswhere

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BTC is awesome and easy! Once you set up a buy account (coinbase, circle pay, etc.) the buys occur from your bank acct., they are instantized only with a debit/credit card attached to your buy accout (i.e.. circle pay, coinbase, etc.). The more verifications you have (phone, id, etc.) the less limits you have. Also, the more you buy and sell the more the limits are reduced further. BTC is on its own system (called the blockchain) and every tranasction is able to be tracked and verified unlike bank transactions. The blockchain can be viewed by anyone (you can use blockchain at blockexplorer.com) - I think that is the correct URL to view tranactions by transaction id or by wallet address. Banks want this technology as it would allow for monetary transactions to occur and would reduce the need for holds on large sums as they would be able to verify deposits, withdrawls, etc. virtually instantly.

BTC also has its own (stock like) value/worth system. They go up and down daily (never closes unlike NYSE). If you watch it closely, you can actually make some good money (that isn't taxable). I know some stories where folks back in they day were developing things using BTC, but it wasn't worth anything back then. They had wallets with say like 30 BTC on there that they used for dev purposes. They find out that BTC is worth something, go back and get access to the old wallet, and boom, almost 30k. I heard one story of a guy uncovering an old desktop with a wallet on it and he raked in just under 800k.

You do have limits, so with all technology, you need to find a workaround until your limits are reduced. Buy as much as you can at once (instantly) and wait until you can buy more, then buy more, and more as you need it - thus over time reducing your limits and allowing you do be more functional with BTC.

I do highly recommend researching and thinking about how to anonomyize your coins. This is also pretty easy and there are tons of ways to do this. You can use multiple wallets, BTC casinos (not recommended), BTC washes (highly not recommended).
 
heavylifting247 said:
BTC is awesome and easy! Once you set up a buy account (coinbase, circle pay, etc.) the buys occur from your bank acct., they are instantized only with a debit/credit card attached to your buy accout (i.e.. circle pay, coinbase, etc.). The more verifications you have (phone, id, etc.) the less limits you have. Also, the more you buy and sell the more the limits are reduced further. BTC is on its own system (called the blockchain) and every tranasction is able to be tracked and verified unlike bank transactions. The blockchain can be viewed by anyone (you can use blockchain at blockexplorer.com) - I think that is the correct URL to view tranactions by transaction id or by wallet address. Banks want this technology as it would allow for monetary transactions to occur and would reduce the need for holds on large sums as they would be able to verify deposits, withdrawls, etc. virtually instantly.

BTC also has its own (stock like) value/worth system. They go up and down daily (never closes unlike NYSE). If you watch it closely, you can actually make some good money (that isn't taxable). I know some stories where folks back in they day were developing things using BTC, but it wasn't worth anything back then. They had wallets with say like 30 BTC on there that they used for dev purposes. They find out that BTC is worth something, go back and get access to the old wallet, and boom, almost 30k. I heard one story of a guy uncovering an old desktop with a wallet on it and he raked in just under 800k.

You do have limits, so with all technology, you need to find a workaround until your limits are reduced. Buy as much as you can at once (instantly) and wait until you can buy more, then buy more, and more as you need it - thus over time reducing your limits and allowing you do be more functional with BTC.

I do highly recommend researching and thinking about how to anonomyize your coins. This is also pretty easy and there are tons of ways to do this. You can use multiple wallets, BTC casinos (not recommended), BTC washes (highly not recommended).
Click to expand...

Good info here, so you think I should load up on coins right now or should you watch for a buy low type price on their coins?


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Best thing to ever come out!! Link your account and be done with it, or you can only buy 300 dollars worth
 
My biggest hang up is my account is linked and I have too wait 6 days for coins I'm a mechanic and have kids and shit I can just throw a grand in bitcoin and go from there I only buy when I want too purchase and I have a lot of people that purchase through me and I profit off it and can't wait a week too put there order through

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Gymjunkie38 said:
My biggest hang up is my account is linked and I have too wait 6 days for coins I'm a mechanic and have kids and shit I can just throw a grand in bitcoin and go from there I only buy when I want too purchase and I have a lot of people that purchase through me and I profit off it and can't wait a week too put there order through

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Click to expand...
Are you using the app only or do you ever get on the full site on a desktop?
 
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Mostly the app but I don't see how policy would change . I made 3 purchases using it every time declined had too call the bank and get a release too complete then I had a fraud issue and had too a new card unrelated . but decided I'd just link my bank and save the hassle and when I tried too purchase bitcoin it said I would have them in 6 days and If already emailed my order and had payment info . So I canceled and got money gram instructions

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Ok so just did my first deposit no issues no waiting it went right in and sent the funds with no issues. I used the coinbase App and was very easy.


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Bigpapapump said:
Ok so just did my first deposit no issues no waiting it went right in and sent the funds with no issues. I used the coinbase App and was very easy.


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Click to expand...
With a card or did you sync your account

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Gymjunkie38 said:
Mostly the app but I don't see how policy would change . I made 3 purchases using it every time declined had too call the bank and get a release too complete then I had a fraud issue and had too a new card unrelated . but decided I'd just link my bank and save the hassle and when I tried too purchase bitcoin it said I would have them in 6 days and If already emailed my order and had payment info . So I canceled and got money gram instructions

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Click to expand...

I could be wrong but I think you see more of the verification steps on the full site. I don't ever remember seeing them on the app or even using my phone on the site because it's still a mobile version of the site.
Have you tried using a desktop or laptop?
 
Everything works as its designed bro its that when I go too transfer from bank it says your bitcoin will be available in 6 days and I end transaction I have other peoples money I can't wait 6 days

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They already made the deposits too my account and I went back and told them what the were all that is done

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I used a CC and didn't have to call the CC or anything. It went right in


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