Its credit cards but you can purchase btc and crypto related with debit cards the reason is people where buying btc with their credit cards than losing their ass and not making the payments thats why as usual its people who fuck shit up like lets take my whole 401k and through onto a ico than they never make the money back and go whining to uncle sam are you ready NEVER INVEST MORE THAN YOU CAN AFFORD TO LOOSE http://fortune.com/2018/02/04/banks-ban-buying-bitcoin-credit-card/Agreed. Debit cards are connected to your checking account. That is your money. Same as doing a wire or ACH transfer from a checking account. Credit card limits ... NOT YOUR MONEY!!! It's the money of the card issuing bank and they are allowing you to spend it at a high interest rate. Who the fuck doesn't know this shit? Obviously the OP doesn't get it. I actually just spoke with someone at a local crypto meetup yesterday that cashed out all of his 401K in December of 2017 and put it in BTC. He is 50 some percent down currently. Good move or bad move? Not sure. Time will tell. It was his own money and he isn't selling his btc. From what I gathered, he'll ride it to zero before he sells at a loss and that's the mindset you need to have, if you're going to do something like that. I don't know how much money it was, but he was a younger guy, so maybe not much ... Me personally, I'd be willing to risk 20% of my 401k holdings on crypto. I haven't done it and wouldn't recommend it, but that would be my personal decision, if I didn't have other savings and income to put into crypto. Some people say that you shouldn't put more than 10% of your total investment portfolio into crypto ... I say 20%, but to each their own. The VERY bottom line is exactly what you said ... Don't put more into crypto than you are OK with losing. |
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Lol, I clicked the youtube link hoping that it might be a documentation of your rig or your calculations, thinking you might gone wrong. Anyways, this video might help you: https://www.youtube.com/watch?v=dQw4w9WgXcQ  Shhhhh DONT TELL THEM THE SECRET  The secret is, buy an ASIC. Bitmain E3 isn't shipping 'till Mid-July - and is about the SAME specs (180 Mhash at 800 watts) as a well-tuned 6-card AMD RX 480/580 rig, and INFERIOR in performance to a well-tuned Nvidia GTX 1070 6-card rig (186+ Mhash at 700-750 watts). Only thing it has going for it is the LOW PRICE. Apparently the rumours about a "F3" unit were incorrect, as was that one published video - or the "F3" isn't an ETH mining unit. What's up with the limit of one per person? |
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OP sorry but there is a long line ahead of you and we all laugh at each one of these remarks. Bitcoin was dead in 2011, 2012, 2013, 2014, etc etc....and well how did that turn out for those future tellers. If credit card banning of crypto is your biggest argument to why bitcoin is dead you need to dig deeper just a tad bit. Thanks for trying though....and this belongs with the speculation sub spam as well please move this nonsense.
Yes all those years you mentioned there was no real regulations on crypto. Now miners are getting hit with crypto tax on their taxes this year... Don't report your crypto earnings and your looking at tax evasion charges It's a new day and age and yesteryears gains don't apply anymore. Funny thing is you can still use your credit card at a gambling casino... So it's the final nail in the coffin for crypto. Without investors being able to use credit cards to buy crypto there will be no bull run I'm calling bullshit on any bull run that mysteriously just happens out of the blue Grow up kid. BTC doesn't need to be purchased with credit cards for any bull run to happen ... Lol. Do you think institutional investors whip out their VISA card when they want to buy 500 BTC? BTC does not need a bunch of irresponsible retail investors to blindly buy in for a bull run to happen any time in the future. Also the IRS has been giving guidance on how to pay taxes on your crypto since 2014. Where the fuck have you been? Just because they are just now enforcing it, doesn't mean anyone who hasn't paid taxes in the past won't be fucked over, if they were stupid. |
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There's a lot of things you need to consider that if you don't give importance your investment may be at risk so here are some of the things ou need to consider or to study.
Learn about the basics first such as:
• Bitcoin wallets
• How Bitcoin works
• What is Blockchain
• Types of wallet
• And different kinds of investments
Second Learn what kind of investments you need to do, here are:
• Trading
• Holding
When you've decided what kind of investment you're going to do start finding exchange where you will bought your first bitcoin there's a lot of platforms where you can buy bitcoins such as:
• LocalBitcoins
• Binance
• Coinbase
• Just search on the internet.
NOTE: You should know the risk you're going to face when it comes to investment remember that there's no assurance that if you invest you're going to earn so invest only what you can afford to lose.
I think you're going to get liquidated. |
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you can use debit cards on coinbase  Debit cards are not credit cards. |
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Jeez.. talk about someone joining a forum to spread FUD to the max. No clue on what crypto is or what it stands for.
This is the only the beginning. Except the laws and banks to clamp down even harder. And expect crypto to grow even stronger. I feel stupid to have to even clarify that around here.
He's just pissed that he bought the top and is going to have to wait a little longer to move out of his moms basement. |
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Banks banned Credit Card purchases for Crypto because they are missing out on a CASH ADVANCE FEE plus the HIGHER APR ON CASH ADVANCE FEES.
I know this because I am a banker at a USA bank.
Yes there are a lot of other reasons (some probably more important that the fees the banks are missing out on) that banks will not let you use "Credit" to buy Cryptocurrency.
The thing is, banks (yes not all of them) will allow you to use the money you worked for anyway you want to. It is very limited to what you cannot get with using our bank debit card
Credit=Money the banks trust you with but its not physically there
Hard earned dollars=the money you deposited into the account
If I were the big banks, I would be more worried about people who have no idea what they're doing buying an extremely volatile asset on credit, market takes a down turn, they panic sell at a low point, bank never sees their money again. |
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It is just a correction in the price, volatility is very common and is what defines bitcoin as a currency. Credit card companies haven't stopped anyone to buy crypto, they only put a "somewhat law" that you should buy from well known vendors.
As far as I know Coinmama supports buying crypto with credit card and everyone can use their service to buy crypto. Their fees are high but that is another topic.
JP Morgan Chase and BOA (in the usa) do not allow crypto purchases with credit cards. If you go to CoinBase and try to buy BTC with one of their credit cards, it will get denied. Not that I think anyone should be buying crypto on high interest credit, but just wanted to clear that up. That is why internet is great. Coinmama is not based in US so you can buy there through internet and through your credit card. What I want to point out that banks stopping payment with credit cards is not a reason why crypto is or will be dead. Buying crypto with credit card is good, if you buy the dip it is the easiest way for you to make a profit. If they really wanted to, why wouldn't JP Morgan Chase and BOA just decline credit card transactions to Coinmama? They can do whatever they want. It's not your money that you're spending, it's theirs. They are just letting you borrow it at a high interest rate. The reason I don't like seeing people buy crypto with credit cards is because the majority of those doing it aren't doing any research whatsoever to even know anything about whether or not it's a good time to buy. Doesn't matter whether you buy a dip with credit or your own money. Buying it with a credit card does not make it easier to make a profit ... Lol. And also ... You are correct. The market isn't down, because some banks stopped people from running up their credit limits to buy crypto. |
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It is just a correction in the price, volatility is very common and is what defines bitcoin as a currency. Credit card companies haven't stopped anyone to buy crypto, they only put a "somewhat law" that you should buy from well known vendors.
As far as I know Coinmama supports buying crypto with credit card and everyone can use their service to buy crypto. Their fees are high but that is another topic.
JP Morgan Chase and BOA (in the usa) do not allow crypto purchases with credit cards. If you go to CoinBase and try to buy BTC with one of their credit cards, it will get denied. Not that I think anyone should be buying crypto on high interest credit, but just wanted to clear that up. |
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tulips? shut the fuck up
Is that how you treat someone who is trying to warn you about what an epic mistake your about to make if you keep holding your coins? Is that how you treat someone who is trying to warn you about what an epic mistake your about to make if you keep buying coins? Is that how you treat someone who is trying to warn you about what an epic mistake your about to make if you buy 24 1080tis at $999.99 to mine? We go ahead then. Invest. Keep thinking 2017 highs are coming coming back soon...keep thinking things will get better now that billions of investors have been locked out of crypto buying No. That's how I treat morons like yourself ... |
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So you pony up the money now, Bitmain will use the money to build these and run it for next three months. And send it you when its earns peanuts...
Wonder why they don't have stock already built and ready to ship?
Oh they do. But they're mining with them right now. |
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Predicting announcement of the Z3 Equihash miner ...
Predict it somewhere else. This thread is about the E3. |
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So it begins...
Identical performance to a 6 GPU rig at 1/3 of the price. Goodbye Ethereum.
I'd buy one if it didn't come at such a bad time for me. Or if it didn't ship that late.
yeah by july its gona be mining at a loss or $2 a day lol,$800 buys two ethereum today which is more than that unit will mine in what 10 months? price is reasonable but delivery time is nuts , but of course these idiots will buy them That's a very good point. I've been buying up ETH like crazy this past week. This machine is junk compared to buying ETH today. |
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Power consumption: 800W
Hashrate: 180MH/s
far from profitable for me
getting 157MH/s with 570W from my 5x 1070 GTX
Far from profitable? How may 1070's can you buy for $800USD? |
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Well it did dip below $400. A lot of people I know where planning to buy it at $340 and it never made it that low. I bought it at $400 and I'm happy with that.
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Monero fork in ~48 hours, get yer bags ready. What do I pack?? Is Metroid coming with? Lol |
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I don't know ... Even at 800USD per month profit at current btc price, it doesn't become a headache for me. My mining farm is in a room in my house that I haven't even opened the door to in over a month. I manage it all remotely. It was much much more in terms of daily fiat profit than that a few months ago, but so what? I'm 34 years old. I have a lot of time to hold the crypto and wait to see what happens.
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Or you can Sell it to people hand by hand Give him btc Give you a dollar I always do this its not easy to sell someone BCH is traded on CB/GDAX . . . Jesus fucking christ. Do you need step by step written instructions? |
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Ledger Nano S is the best hardware wallet, use that
I second this, it also works great with MEW. Just have to get used to how it works. Any hardware or paper = better than online. |
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Coin price is another variable. Coin price does a 2x, you have the same hardware, even with new hash rate introduced, you feel fine, even when the difficulty goes up. Difficulty goes up, coin price goes down, you have the same hardware, you feel a little less fine.
It isn't rocket science.
If it continues for a monthes ya became to feel some headache once instead of less fine. WHAT?  Please use proper grammar and spell correctly. I have no idea what you are trying to say with that. |
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