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  • 2 weeks later...

I'm pretty new to this bitcoin thing and have dloaded the coinbase app.

 

Literally just put 250 into bitcoin, 150 ethereum and 100 into litecoin to start off. 

 

Do you guys transfer funds to a wallet (Electrum) or just let it sit within coinbase?

 

 

Edited by HI5
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4 minutes ago, HI5 said:

I'm pretty new to this bitcoin thing and have dloaded the coinbase app.

 

Literally just put 250 into bitcoin, 150 ethereum and 100 into litecoin to start off. 

 

Do you guys transfer funds to a wallet (Electrum) or just let it sit within coinbase?

ALWAYS transfer it back to your wallet!!  It's the only safe place (unless you lose your ID number(s)).

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56 minutes ago, SabreFan1 said:

ALWAYS transfer it back to your wallet!!  It's the only safe place (unless you lose your ID number(s)).

:lol: i have no idea what I got myself into...

 

Apparently coinbase is a crappy bitcoin exchange for Canadians now cause they don't allow withdrawals anymore.

So I'll be needing a new exchange to buy and have to find a wallet to store the coins in. 

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1 hour ago, HI5 said:

:lol: i have no idea what I got myself into...

 

Apparently coinbase is a crappy bitcoin exchange for Canadians now cause they don't allow withdrawals anymore.

So I'll be needing a new exchange to buy and have to find a wallet to store the coins in. 

That's what you get for being Canadian!! :lol:

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5 hours ago, HI5 said:

:lol: i have no idea what I got myself into...

 

Apparently coinbase is a crappy bitcoin exchange for Canadians now cause they don't allow withdrawals anymore.

So I'll be needing a new exchange to buy and have to find a wallet to store the coins in. 

don't think coinbase ever allowed canadians to take money out. they probably will eventually

 

you can use quadrigacx though.

 

i think you're more likely to get spyware or some virus on your computer and lose your bitcoin through that than you are to have coinbase hacked and someone lift your $250, imo. 

 

but if you're looking for a wallet, you could place an order for a Ledger Nano S and store it 'on' that

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10 hours ago, GLASSJAW said:

don't think coinbase ever allowed canadians to take money out. they probably will eventually

 

you can use quadrigacx though.

 

i think you're more likely to get spyware or some virus on your computer and lose your bitcoin through that than you are to have coinbase hacked and someone lift your $250, imo. 

 

but if you're looking for a wallet, you could place an order for a Ledger Nano S and store it 'on' that

I just ended up transferring it to a program called exodus. Should be able to access it from any computer, I guess its a little more secure just cause the text option and 12 word key. 

 

I'm just looking to stock up on some bitcoin and ethereum for the long haul over time incase it ends up living to expectations. 

 

 

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  • 3 weeks later...

Was thinking about getting in, then just last night I heard this story. Sorry if it has already been posted...

 

How Ethereum lost $300 Million Dollars

https://hackernoon.com/how-ethereum-lost-300-million-dollars-bfedf7ba0c19

 

...still hearing there is a lot of dough to be made, but I'm not too sure. Bought some SOXL the other day at the advice of a friend but Im still very much a stock rookie so I just follow his steps. Anyway hope I don't procrastinate too long and miss this crypto boat.

 

good luck brave peeps.

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2 hours ago, bishopshodan said:

Was thinking about getting in, then just last night I heard this story. Sorry if it has already been posted...

 

How Ethereum lost $300 Million Dollars

https://hackernoon.com/how-ethereum-lost-300-million-dollars-bfedf7ba0c19

 

...still hearing there is a lot of dough to be made, but I'm not too sure. Bought some SOXL the other day at the advice of a friend but Im still very much a stock rookie so I just follow his steps. Anyway hope I don't procrastinate too long and miss this crypto boat.

 

good luck brave peeps.

 

Weird way to conclude the article: "Interestingly enough, the price of Ether has not deviated much since the hack. Which may show that there is more confidence in the network than ever."


Weird because the writer says earlier: "To be clear, the vulnerability was a mistake by Parity, and not a vulnerability of the Ethereum protocol itself."

 

Why would the price of Ether deviate because poorly coded third party junk like Parity loses money? Parity is not Ethereum, Ethereum is not Parity. 

 

Anyway, stuff like this is just an extremely expensive growing pain imo. Ethereum/blockchain tech is still in its infancy despite the insane amounts of money floating around -- like the internet in its first few months. Things will be far easier, more streamlined soon enough. Not saying Ethereum will lead the way necessarily, but in the meantime, I'm not going to sell any ETH just because a third party drops the ball. 

 

Stocks, to me, are the old world--this is the new.

 

 

 

 

 

 

 

 

 

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4 hours ago, CanuckGAME said:

Anyone here know how one could educate themselves on Crypto?

 

Have interest in getting in,  probably missed the boat on Bitcoin but there seems to be a lot of potential with others.

 

Any advice on how I could learn and get in would be appreciated.

there's no secret code or handshake to get in. just google it. you just have to read and learn a lot of stuff really quickly. watch andreas antonopolous' videos on youtube, read reddit discussion boards (r/cryptocurrency, r/bitcoin -- ignore the shilling and read critically). 

 

considering most speculators think bitcoin is going to continue rising for years to come -- with a few potential massive hiccups along the way -- it's sorta silly to say you've "missed the boat" on bitcoin. most traders out there now are only trading to increase their bitcoin stack, not increase their USD/CAD amount. Like, you buy 100 coins of some sh-tcoin. Instead of holding onto those and waiting/hoping for it to become worth $500 each, you simply wait for it to increase its value in BTC, then trade it for BTC. take some profit and invest it in another coin, etc.

 

 

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30 minutes ago, GLASSJAW said:

 

Weird way to conclude the article: "Interestingly enough, the price of Ether has not deviated much since the hack. Which may show that there is more confidence in the network than ever."


Weird because the writer says earlier: "To be clear, the vulnerability was a mistake by Parity, and not a vulnerability of the Ethereum protocol itself."

 

Why would the price of Ether deviate because poorly coded third party junk like Parity loses money? Parity is not Ethereum, Ethereum is not Parity. 

 

Anyway, stuff like this is just an extremely expensive growing pain imo. Ethereum/blockchain tech is still in its infancy despite the insane amounts of money floating around -- like the internet in its first few months. Things will be far easier, more streamlined soon enough. Not saying Ethereum will lead the way necessarily, but in the meantime, I'm not going to sell any ETH just because a third party drops the ball. 

 

Stocks, to me, are the old world--this is the new.

 

 

 

 

 

 

 

 

 

Thanks, confuses me. And yeah, I could have picked a better article about it. I heard the story on a pod cast last night something about the funds being locked in the 'wallet' and could not be accessed after the mistake hack. 

anyway, i hear what your saying...evolve or die..and this stuff looks to be the future.

 

related story...about 4 years ago my cousin got off his tour of duty in Afghanistan ( Brit military), he and his mates were going on about Bitcoin. My cuz bought 10k worth at that time! havent talked to him much in the last couple years as he's been travelling the world. Not sure how long he held on before cashing in... but he doesn't seem to be having a problem affording his lifestyle.

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Oddly enough etherium has been shooting up pretty good today. 

 

Some resources:

https://www.coinbase.com/signin - For buying, can't withdraw anymore.

https://coinsquare.io/dashboard - For buying, but they put a ludicrous temporary hold on funds

https://altpocket.io/ - tracks your portfolio

 

https://www.bitfinex.com/ - Exchange

https://poloniex.com/exchange - Exchange

 

https://shapeshift.io/#/coins - Exchange anything for anything, love it. 

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^^ bitfinex sounds mega shady lately, but do what you gotta do

 

if you're willing to learn a bit and want to trade eth-based ICOs, then EtherDelta is the best. a lot of room for errors that you can't go back on, though

 

also quadriga is the best canadian site for cashing out, as far as i know

 

anyway, ETH hits new all-time high today. feels good.

 

remember when I mentioned it in the stock thread when it was like $35 or something. someone said it looks like a bad investment. hmm!

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53 minutes ago, GLASSJAW said:

^^ bitfinex sounds mega shady lately, but do what you gotta do

 

if you're willing to learn a bit and want to trade eth-based ICOs, then EtherDelta is the best. a lot of room for errors that you can't go back on, though

 

also quadriga is the best canadian site for cashing out, as far as i know

 

anyway, ETH hits new all-time high today. feels good.

 

remember when I mentioned it in the stock thread when it was like $35 or something. someone said it looks like a bad investment. hmm!

True on bitfinex, currently transferring my stuff outta there. I'd encourage people to stay away from /r/bitcoin as well. 

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