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You're not complaining about a delay? Because you say - "They will take your money and hold it for a week and then if BTC goes up, they will cancel your order and refund your money a week later."
Oh wait no, you're really saying that they take your money, and then do nothing with it, and return it to you?
You're funny.
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I think the next headline, if positive, will read, "INDIA ADOPTS BITCOIN, PRICE SKY ROCKETS"
But c'mon, positive headlines? Bad news $ELLS
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Conbase has ripped me off so many times....I finally closed my account. They have done the same to my friends as well.
They will take your money and hold it for a week and then if BTC goes up, they will cancel your order and refund your money a week later.
They will recharge your bank acct for BTC that you bought months earlier and cause an NSF on your acct. Their are crooks and thieves, end of story.
Stay away from CONbase.
i purchased for the first time about 2 weeks ago and there was no 30 day hold. just 4 business days for the ACH transfer to go through. I have $1,000's of dollars worth of losses from Coinbase, for the very same reason.
I ordered my coins at $1050. By the time I actually got them the price had dropped to $500. While going from $1050 down to $500, all I could do was sit there and watch, because when I tried to sell the coins at the beginning of the drop, I realized they had taken the money out of my bank account, but hadn't actually given me the coins yet. Then when it hit $500 I tried to buy more while the price was low, but they wouldn't let me because my 1st transaction hadn't finished. So not only did they prevent me from selling after the China announcement in order to mitigate my losses, they wouldn't even let me buy more when the price hit it's low. Then, to add insult to injury, they later cancelled my second order for being "high risk", even though my first order was successful, came out of the SAME bank account, and was for FIVE TIMES AS MUCH MONEY.
Coinbase = Conbase. They can take that $25 million and either shove it, or give it back to the people they screwed royally.
the delay doesn't mean they are cheating you. it's not their fault that BTC crashed after you bough the BTC. if you had purchased your BTC from an exchange that paid you instantly, you still would have lost your money. the only problem that i would have is if they'd cancel your order if BTC rose after making your order, but i don't think that's the case (based on user feedback on the forums). They clearly state their limitations and their transfer speeds on their website. Within the first 30 days, it takes 4 business days for purchased Bitcoin to appear in your account-this is no secret. Just like ALL other exchanges, the more you identify yourself, the more they trust you and reduce those wait times and limitations. You'll need to wait 30 days after completing a purchase, before you can instantly buy Bitcoin, not from when you create the account. Any mistake that coinbase might make, they will absolutely fix on their own, but it's usually not a mistake, rather a lack in understanding of what to expect when using them. I'm a fully verified and level 2 account holder at coinbase and understand their process thoroughly. I too, missed out on a lot of the early gains, but this is my own fault, not coinbase's. Once you're verified completely, you can buy 10 BTC INSTANLTY per week and sell 50 BTC per day- that's amazing... To say they scam people is so funny, and ignorant.... |
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Financial institutions deal with currency, and the Chinese government wants to keep it that way. Bitcoin Exchanges and related companies deal with Bitcoin, and the Chinese government wants to proceed this way. It's only clarification of separation between THESE businesses, not Bitcoin in general.
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I'd say it was a scam to drop the price low so some whales could get some cheap coins!
I totally agree that it could be a noob trap to get panic selling going. This is what has been happening for centuries in the traditional financial markets so as long as Bitcoin is primarily another speculation coin it is going to happen here so the Rich can hoard even more coin and fleece the inexperienced panic sellers yet again. I think what we all need to remember is that WE practically run this thing. Obviously this is an exaggeration, but Bitcoin is STILL so new, and the people here on this forum are at the forefront of it all, AND the miners. Mass media will be mass media, but I guarantee that we the people will not let this thing fail... |
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Gold and Silver have intrinsic value, yes. I think we ALL know why...
Bitcoin has intrinsic value, yes. To say it doesn't, is the same thing as saying "I don't understand what Bitcoin is"
They BOTH have intrinsic value in their own ways. It's not a "one or the other" conversation so why talk about it that way. We don't use gold and silver for money exchange, we use paper money (which we ALL know is NOT backed by gold anyways) so WHY the heck are comparing them like they are apples to apples?!?! Bitcoin basically represents intrinsic value, this is not a freaking opinion!!!!
On a side note, Peter Schiff is a drama queen, lets be serious (or practical for that matter).
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Dumping when? Once bitcoin reaches 40000$ or when their etf becomes live?
Dumping as soon as the etf comes live. The etf is the vehicle for the twins to dump their holdings. That's an extremely good point.... And yes, roughly 50% of Bitcoins have been mined but it's not the number of coins, rather the number of decimals.... |
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In Las Vegas last week, the CEO of BTC China - BOBBY LEE - was talking to everyone and explained that the Chinese Government has determined that the financial banking institutions in China will not get involved in Bitcoin. Banking institutions in China will stick to banking local currency, period.
Banks will not get involved in Bitcoin transactions.
OK! But what does it REALLY mean?
China recognizes Bitcoin as a "virtual asset" (which it is), not a currency (which it really isn't), and is allowing this new virtual asset economy to grow with new and upcoming companies, like BTC CHINA.
It is not banning Bitcoin.
SO what Bobby Lee was explaining, was how great this is because it will allow new types of companies to fill this void and business space, that the banking institutions cannot get involved with.
YES, this makes it a little bit more challenging to become involved with Bitcoin in China, RIGHT NOW-TODAY, but not forever, and not for very long...
This is the real opportunity in China, because new companies and technologies will be developed and created to fulfill these needs and new services.
If the financial institutions control the Bitcoin economy in any country, this whole thing has failed....so THIS IS REALLY A GOOD THING.
People are just panicking because there is so much disinformation being generated by these blogs that have zero credibility. Furthermore, Bitcoin is bigger than China, and this whole fiasco is only temporary...
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I just bought 2 USB ASIC miners off of Ebay today for $100
Very low power consumption, 300+ MH/s - plug them in almost anything.
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No. but mtgox sell for users with high price and buy from users with low price.  But it's higher.... I too looked into this and found a couple things. There are fees you will have to pay each time you go from one site to the other. And there is a lag time also which might play into the factor of loosing a little bit more $. BUT it might be a good deal to make a little here and a little there. It will add up  . Yes, MtGox especially seems to have a terrible lag time, coinbase is VERY fast. It's a great question and this method could be of some benefit when there is a difference between btc-e,bitstamp and coinbase but please exclude mtgox as money in there can't be withdrawn in most of the world.
The reason why Btc-e is Lower in price is the difficulty to fund your account (and the associated high fees of bankwire,funding to perfectmoney etc...) .
BitStamp and Coinbase have the fastest transaction times, but their price is very close indeed. If you're willing to wait, MtGox could be a killer money maker. Waiting is OK if you have funds to play with while you're waiting and the money is settling. |
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Ok, please pardon me if this is a bad question, stupid, illegal, dumb, or just plain...well you get it. I have noticed that the exchange rate is different between exchanges, (MtGox, BitStamp, CoinBase, BTC-e) If I buy BitCoin from CoinBase at $830, it seems like I could then turn around and sell it on MtGox for much more, lets just say $880 ( there is a huge price difference, even now, just look - https://www.mtgox.com/ | https://coinbase.com/charts) We can also assume the accounts are fully verified and all in USD. What are your thoughts on this? and is this illegal?? Thanks! |
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Woo Hoo!!! I want some free Bitcoin!!
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