Topic: Coinbase - Bullish sign? (Read 4248 times)

we don't take kindly to bears 'round herr.

Ahh... well done Morpheus. Could not remember who had posted it.

How about a tee shirt? With a big gold bitcoin...

"When we are ready to sell our bitcoins...

on the back:

"We won't have to."

Not bad 

And thanks!

Some things:

- Coinbase is by far the easiest and most convenient way to buy and sell your coins if you are in the US.

- Prices on coinbase are reasonable for both buying and selling

- There is no other exchange you can transfer money to electronically anymore. This might change by the end of Nov if CampBX starts accepting ACH deposits like they claim they will.

- The CampBX site is horribly slow and their orderbook is incredibly shallow. You can't buy or sell any medium-size amounts of coins without moving the market. So it doesn't matter if you can do a $50k ACH or not. You really don't want to ever buy or sell more than 10 coins there at a time.

That's just what I said to myself the other day.  It's like that realization just hits you after a while.

Aww thanks! That was my line, though I'm surely not the first to think of it.

true，words of truth right there...

It really depends on what limits their bank sets for them. Banks typically will use some kind of risk model or analysis to determine if the requested limits are appropriate. That being said, setting up ACH capabilities for an exchange would not be easy. Many banks would not even entertain the idea.

very cool. yup, that seems about right. 

In my view and your own thoughts will vary:

Why sell for a quick one-off profit that yes, is a good profit but in the scheme of things will not be a life changer for you?  What's a couple hundred dollars (minus taxes - you ARE paying taxes on your gains aren't you?) when there is the possibility your bitcoins could be worth tens of thousands of dollars at some point?

Get yourself some bitcoins, buy stuff with some, keep some.  But don't cash out just yet for a few baubles when there is a reasonable chance you could have a tremendous return five or ten years from now that may be life changing as in cars, houses, retiring early.

But yes, if you do cash out now that makes bitcoin all the cheaper for the rest of us to obtain so we really do not mind.  Up to you.

Going from fiat to Bitcoin reminds me of this scene in Contact, they made her the seat to protect her because they didn’t trust the aliens' plans.

Watch from 3 minutes  

http://www.youtube.com/watch?v=scBY3cVyeyA

More and more this is my thinking (and practice) too. Bitcoin is just much better to hold than fiat for so many reasons. After 3 years, I still get a thrill sending coins across the globe almost instantly with virtually no fee or controls. Yee Ha! That freedom is contagious and addictive. Once you get a taste of that fresh air, the fiat world of constraint and invasive body searches will never do again. And as you guys know, I'm not the only one who feels that way. Think there might be a few million (billion) others who feel similarly?

The idea that Hf suggests that $200 is expensive for bitcoins, is all a question of time frame. Yes, compared to last year $200 is outrageous. But compared to 2 years from now?? That is the question, and no arguing or insulting on these forums will answer that question. If you are short-term trader, looking to make a few fiat bucks here and there, and maybe buy a new car or townhouse, then maybe it is worth selling your coins now. It has been an amazing run. But if you are believer in the potential of this game-changing technology to make massive (even modest) impact on the financial system, and have the potential (granted, just the potential) to experience life-changing wealth, then do not sell your coins unless you absolutely have to. Pretty simple.

I love that line I saw somewhere on these forums...something like: "By the time I'm ready to sell my coins, I won't have to" Makes me smile, big.

Thought you guys might like this video, if you have not seen it.

http://www.finextra.com/Video/Video.aspx?videoid=513

Sell a few coins if you need/want to use the money right away (assuming you can't spend the coins directly instead), but you never, never go full fiat. That shit is dangerous man! It could be taken from you at any time, you can't move around with it, etc. Why would you want fiat??

Very good post, I very much agree to this. There are a lot of bullish signs, but there are negative ones as well.

And prices are high with a lot of coins looking to find new owners at higher prices....

Lets see how it´s going to turn out, either way, definetly entertaining...

Most business people believe bitcoin's outcome if very likely a binary one.  Either very much bigger than today or forgotten and worthless.

At a market cap of 2.5bn for what might be disruption of the world financial system that could not be much less significant a number.  Does this mean XBT goes to 1000x eventually, who knows but to talk about current number as being 50% over or under valued is just silly.  Apple have 150bn on their balance sheet and don't know what to do with it

If I had bought in 2010 for a few cents and just sold to make a 1000x profit in 3 years I might also be inclined to warn people on price but wouldn't presume that I have timed some sort of top in the market.

I have not preached that BTC will go down to single digits... Reading helps...

I found it interesting how much hate is received just by warning others of risks. I am a believer in Bitcoin and its technologies despite its flaws. But USD 200+ a bitcoin (and we are talking bitcoin, nothing else), does not appear cheap to me. Maybe it is for others, but after thousands of percent, you don´t really mind missing another 10%, 20% or 50%. But losing 50% of them would hurt my ego...

So if everyone is so bullish, why not take your bitcoins to bitfinex, and buy with a 1:4 leverage. This makes you even richer when we do see the USD 5000. Good luck with that.

I have put some of my profits into a few bitcoin startups, where I do see more potential, than in the price of bitcoin itself.

Sitting on the sidelines and watching....

For the week I've been watching Coinbase (which corresponds to the time I've been a customer) it seems to me that they've been closes to BTCChina.

My first sale and somewhat experimental sale fell in a nice mid zone, but my later and non-trivial one came out closer to Bitstump.  sadface.

Most exchanges allow you to get your money out electronically, but very few allow for electronic deposits.

Hence the reason the price of CoinBase would be so high...easier movement of dollars to bitcoins than the rest of the exchanges.

Curious why, if you're so bearish on the future of BTC, that you bother to have an account and comment here.  Not saying your shouldn't but it just seems to be a waste of your time.

1) Bitcoin rallies come to an end HIGHER THAN THEIR STARTING POINT.

2) Everything that goes up must come down... oh so you mean like FM Radio adoption? Too bad there's one in every car in America. Cell phone adoption? 10 year olds have them. Google search engine use? Sure, in a hundred years no one will have cell phones because we'll have unlocked our brain's latent telepathy by then. But in the short term, your "everything that goes up must come down" rhetoric simply doesn't apply here.

Conclusion: You are talking out of your butt and haven't a CLUE! 

I don't see why not, though I've never personally done one that large. You can get easily verified to do transactions of $100k USD+

Any idea how large ACH withdrawals can be? Can you do a $50K ACH withdrawal?

Yeah, I understand. But he was talking about Bitcoin going to single digits. I don't think this was true speculation. I think he was trying to reenforce a decision he just made. He bought coins in 2010 and sold them all today. There is no way he is absolutely 100% okay with that and he was making it pretty obvious with his posts.

Kudos for buying in 2010. I wish I knew about Bitcoins then. But, I think as good as a decision as that was, its shockingly bad for him to ignore what is going on right now. The amount of VC money (public and unannounced behind the scenes) and press that Bitcoin is getting reminds me somewhere between the early days of the internet and the early days of social media. Which is about where I would put Bitcoin's future importance.

It's evolving so quickly its almost headspinning. I mean, 6 months ago, I was waiting for the other shoe to drop, for the U.S. to ban all U.S. money into and out of crypto exchanges. Today, I see exchanges backed by millions of VC money already registered with FINCEN. I see some of those companies paying the Million Dollar payment to register in 47 necessary states. I see a ETF that is more and more likely. Right here, in the US, the worlds most difficult and influential (both arguably) country to operate money exchanges in.

The "other shoe" is and was always the US goverment and courts. It is becoming more and more difficult everyday for them to do something "game-changing" to hurt bitcoin.

Meanwhile, for the first time in recorded history, you have a monetary technology where every player, every company, every developer, every user, has a built in incentive to support and foster the eco-system. You have competition with shared ownership. Unprecedented.

At this point, if governments don't go full attack mode and if someone doesnt "crack" the blockchain, I do not see how Bitcoin doesn't grow several magnitudes larger than it is now.

CampBx still supports ACH withdraws, and they will soon support ACH deposits as well. However their support seems very slow.

Is he doing anything different than all the bulls in here shouting up, uP, UP? Serious question. This is the speculation forum... people should speculate. Bears included.

Considering you cannot move money to CampBx via Dwolla anymore CoinBase appears to be the only site you can get money to electronically.

Haha. Strong out of the gate they are.

Yep.
http://www.downforeveryoneorjustme.com/coinbase.com

Circle is DDOS'ing them.

Is coinbase down right now? I can't connect.

Username: BitchicksHusband



But I agree with you...

There's a lot of really smart (economically) and really rich people on here who believe it as well.  Forgive me if I listen more to their analysis rather than a couple college students.

If you needed the money for college right now, then fine, it was a good move.  You made some money and now you need it.

But don't come on and try to tell everyone else that they should do the same in a different situation in life just to make you feel better about your decision.

You mean that you think its interesting that most the people on a bitcoin forum have positive feelings about where bitcoin will be heading?

I'm just going to put your name under the ol' "Even dumber than we thought" column.

Dude. You obviously just sold your coins so you did so with the thought in your head that this was either A. enough profit for you or B. that BTC would more or just as likely go up than down from heretoforth.

So, we get it. But you don't need to preach about how the market can go down to single digits just to make yourself feel better about your decisions. While it "could" go back to single digits, the BTC eco-system is starting to grow at an exponential rate and awareness of BTC in the human population is growing at an exponential rate. So to assume that the price of BTC is not going to move up in the future is optimistically bear in your position.

Congrats, you took your well deserved profits.

No need to tell us what is going to happen next.

If you are still in college, I suspect being into Bitcoin now will stand you in good stead in the long run.  You made a sensible move.

A profit is a profit. Could have been a loss as well. So there should be no regrets.

Interesting to see only bulls around. Good sign for a downmove.... And there a lots of people with a lot of profits on lots of coins. At some stage they are going to realise their gains... 

I might be wrong but I don´t believe that they are waiting for a new high.

made $50 off of it so it was still a success until hindsight comes around lol

still have $600 in a mining co-op starting today. I'm in college and wasn't comfortable with $1200 in it so cashed out the 3 coins and kept the mining co-op for down the road.

I thought that it would go down again once it hit 207 on coinbase like last time but I guess not.

just saw RT and NYT feature bitcoin articles O.O

FTFY

I wish I could share your optimism. I might be in the game for too long to be that optimistic. I can remember that I found $20 too expensive to buy any additional coins.... and that´s only a few month ago...

Bad move brotha. Buy and hold.

Unfortunatly it was a bit more than a few cents.... but lets talk in again in a few month from now...everyhing else is speculation

And you are right, most people have never heard about bitcoin.... and never will.

What makes you so sure that we will only go up from here ? Bitcoin has proven to be very volatile and we know that every rally comes to an end.

Everything which goes up, especially as parabolic as bitcoin, will come down at some stage. The only question is, how deep will it go. I don´t believe it will be single digits, but double digits could very well happen. In my view much more likely than another 100% up.

I'll say "Well done" when it DOESN'T go up to $10,000 or more. If it does, it wasn't well done giving up millions of dollars.

Well done, you must have paid about 10 cents or less and look at a 2000 x gain in three years, just because  most people hadn't  heard of Bitcoin in 2010  doesn't mean it's  a bad idea.

Nice

Can't believe I missed that one!

Very bad guess...

No, I am one of the guys who bought in 2010 and sold my whole stack at at current prices... There is no way I would ever regret this...

I guess you are one of the guys who bought at 120-150 will be the guy who is shitting his pants when we see 100.... or lower....

Circle.com


Amazed there is not more talk of it on here, it's the biggest VC investment into bitcoin thus far

Circle?

Ya, I wouldn't be fooled into thinking they just profit off bank transfers.  They've got enough spread between buy/sell...  Right now, in the US, I suspect they're leveraging the sort of monopoly position they have for quick bank transfers.  Sounds like Circle may change that.

I guess you are one of those guys who sold bitcoin's and now are hitting wall with yours head because you regret this? It looks like this anyway. I'm sorry for you but I wouldn't count on lower prices in the future anyway. Bitcoin is not going to wait for you.

My thoughts exactly.  

As I understand it they often source from Bitstamp, but I suspect that when they get stretched it shows in the price and spread.

This should almost completely dismiss the claim that Americans have funds "stuck" on Gox and are looking to get off.  You could now buy there and sell on Coinbase with like a 3% spread..

I learned this lesson long time ago: never ... sell ... bitcoins ...
Of course if I can buy something using them I'm doing this right away.

No worries, you will be able to buy at least 10 btc back with the money within the next year...

Lots of noobs use Coinbase to buy, or are otherwise referred to Coinbase.

Ouch.

Almost 210 now.

not sure, I just sold my 3 bitcoins tho at $202 and now its still going up. sadface

Coinbase is almost as expensive as Gox now.   Are they are struggling with the influx of new buyers/subscribers, it looks like the number of wallets is up 30k in the last couple of weeks.