"2 chains, don't worry about the police I got names"

https://m.youtube.com/watch?v=GIzWo7J1B-A

Just wanna drop a thank you note to everyone participating in this thread.

This thread alone has made me more money than any other stock market tips or articles.

JJG thanks for ur diligence even though i dont read them. Its still comforting to read them when i feel like it. But take it easy man. Ur making money. Enjoy it even if people think youre wrong.

SunW. Beers on you if we meet in the future!

Should I store all my coins in one exchange like poloniex where I can trade in and out of other alt coins, or on GDAX where I can easily transfer in and out of US dollars? Or keep them on both?

I know JJG uses different exchanges, but doesn't that make it harder to keep track of what you bought and what you sold and at what prices?

(05-05-2017 06:44 AM)CleanSlate Wrote:  Should I store all my coins in one exchange like poloniex where I can trade in and out of other alt coins, or on GDAX where I can easily transfer in and out of US dollars? Or keep them on both?

I know JJG uses different exchanges, but doesn't that make it harder to keep track of what you bought and what you sold and at what prices?

Great interest rate now if you lend your BTC on poloniex. 0.35 % daily, take that times 365 and you will have the yearly. LTC and Stellar and Clam have high interest rate, too, if anyone is holding those coins.

(05-05-2017 07:45 AM)Satoshi Wrote:  

(05-05-2017 06:44 AM)CleanSlate Wrote:  Should I store all my coins in one exchange like poloniex where I can trade in and out of other alt coins, or on GDAX where I can easily transfer in and out of US dollars? Or keep them on both?

I know JJG uses different exchanges, but doesn't that make it harder to keep track of what you bought and what you sold and at what prices?

Great interest rate now if you lend your BTC on poloniex. 0.35 % daily, take that times 365 and you will have the yearly. LTC and Stellar and Clam have high interest rate, too, if anyone is holding those coins.

Poloniex is getting cooler by the minute!

BTC is losing share as people chasing big % gains realize that the bigger the price of BTC, the more difficult it is to move in % terms. What is easier to achieve: LTC $4 to $24 (6x) or BTC $1500 to $9000.

People will debate endlessly about merits of one coin over BTC, but let's assume there are a few coins with useful features BTC does not have. There are literally hundreds of other altcoins with different names but ultimately useless and wouldn't have any use other than trading on exchanges, especially Poloniex. I used the example of Siacoin before, which went from 3 satoshis up to 90, because the price was so damn low it was easy to move. At least a dozen coins have been pumped significantly in recent months and the people on the right end of these trades get the casino like returns they want. For a lot of the new money going in, it doesn't make sense to go to BTC when you can get higher return on some altcoin, even if it's just another useless clone.

So the BTC market share thing should be taken in proper context.

(05-05-2017 07:52 AM)CleanSlate Wrote:  

(05-05-2017 07:45 AM)Satoshi Wrote:  

(05-05-2017 06:44 AM)CleanSlate Wrote:  Should I store all my coins in one exchange like poloniex where I can trade in and out of other alt coins, or on GDAX where I can easily transfer in and out of US dollars? Or keep them on both?

I know JJG uses different exchanges, but doesn't that make it harder to keep track of what you bought and what you sold and at what prices?

Great interest rate now if you lend your BTC on poloniex. 0.35 % daily, take that times 365 and you will have the yearly. LTC and Stellar and Clam have high interest rate, too, if anyone is holding those coins.

Poloniex is getting cooler by the minute!

10-15% yields on "passive" investments sound great, but you should know what you're getting into on the other side. These loans tend to be extremely short (1-10 days) so you're constantly reupping and looking for new borrowers with differe interest rates daily.

Also, the main deterrent for me is the risk of an exchange hack like Mt Gox, Bitfinex, etc. You don't want your principal, much less your interest to be wiped out in one moment.

(05-05-2017 08:13 PM)booshala Wrote:  

(05-05-2017 07:52 AM)CleanSlate Wrote:  

(05-05-2017 07:45 AM)Satoshi Wrote:  

(05-05-2017 06:44 AM)CleanSlate Wrote:  Should I store all my coins in one exchange like poloniex where I can trade in and out of other alt coins, or on GDAX where I can easily transfer in and out of US dollars? Or keep them on both?

I know JJG uses different exchanges, but doesn't that make it harder to keep track of what you bought and what you sold and at what prices?

Great interest rate now if you lend your BTC on poloniex. 0.35 % daily, take that times 365 and you will have the yearly. LTC and Stellar and Clam have high interest rate, too, if anyone is holding those coins.

Poloniex is getting cooler by the minute!

10-15% yields on "passive" investments sound great, but you should know what you're getting into on the other side. These loans tend to be extremely short (1-10 days) so you're constantly reupping and looking for new borrowers with differe interest rates daily.

Also, the main deterrent for me is the risk of an exchange hack like Mt Gox, Bitfinex, etc. You don't want your principal, much less your interest to be wiped out in one moment.

Thats why I test new things like margin trading and lending with very small amounts first.

And exchange hack risk is a good argument for keeping your money in different exchanges.

I'd peg the chance of an exchange hack at 1%. Further, since the Mt. Gox hack most exchanges do not use hot wallets for the majority of their funds anymore. The majority of funds are in cold storage, you can see these on etherscan or bitcoin blockchain explorers. I'd be more worried about the sketch neckbeards at Polo just taking your coins for no reason. What recourse do you have then? Everything's completely unregulated. You gonna call 9-1-1?

If you are worried about hacks I don't know why you would ever keep money on exchanges. Look into secure, completely, offline storage methods. Paper wallets, hardware wallets, airgapped computers all that garbage.

This over and over.
And even if the exchange dont want to scam you. There is also a possibility that they loose their private key where they store most of the coins cold.

I was very skeptical of exchanges. I formated a computer. Generated addresses of network. Saved the private key in a few various locations.

I would also be careful not bragging about how much crypto i got. Lets say you meet up with some members who tries to force you to transfer your money to their address. Its not much you really could do?

Little tip for recouping Coinbase fees:

1. Get a cash back credit card (1.5-2% for all purchases)
2. Link it to your coinbase account
3. Buy bitcoin (or ETH or LTC) through the credit card account
4. Watch your cash back roll in on your credit card

It almost cancels out the transaction fees on Coinbase.

Have you done this personally, or just thought about it? What do they code the transaction to coinbase as, a normal purchase or cash advance?

Could be a good little hack.

(05-07-2017 02:11 AM)Armogan Wrote:  Have you done this personally, or just thought about it? What do they code the transaction to coinbase as, a normal purchase or cash advance?

Could be a good little hack.

Done this personally. I used to do bank transfers, but I wanted to try a credit card so I could move my coins to GDAX or Poloniex immediately. Then I got the cash back after the transactions cleared on my cc account.

(05-07-2017 01:59 AM)CleanSlate Wrote:  Little tip for recouping Coinbase fees:

1. Get a cash back credit card (1.5-2% for all purchases)
2. Link it to your coinbase account
3. Buy bitcoin (or ETH or LTC) through the credit card account
4. Watch your cash back roll in on your credit card

It almost cancels out the transaction fees on Coinbase.

What card are you using for 2% on everyday purchases?

Edit: just remembered the Chase Freedom Unlimited is 1.5%, but this still gets us nowhere near the 3.99% Coinbase CC fees

Wait, what?!?!

Purchases to coinbase through credit cards aren't cash advances?

Could run manufactured spend for points through this method.

(05-07-2017 07:44 AM)MaleDefined Wrote:  Wait, what?!?!

Purchases to coinbase through credit cards aren't cash advances?

Could run manufactured spend for points through this method.

I had the same idea, but you have to pay 3% in fee. Quite expensive if you ask me.

Only $175 more to go and that'll make 3 out of 3 years right with btc!

JJG, what a time to be alive? You are so quiet lately, have this massive bitcoin spike blacked you out?

(05-07-2017 02:20 PM)Ray Carlton Wrote:  

(05-07-2017 07:44 AM)MaleDefined Wrote:  Wait, what?!?!

Purchases to coinbase through credit cards aren't cash advances?

Could run manufactured spend for points through this method.

I had the same idea, but you have to pay 3% in fee. Quite expensive if you ask me.

You have to pay 3-4% to coinbase and my bank charged me 3% on all charges to coinbase for a foreign transaction fee. So I'm getting hit for 7%, with 1% cashback, Still a 6% fee. And at coinbase the live price is like $25-30 more than the current market price for BTC, so you're getting ripped pretty hard on all transactions.

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For the guys trying to time the top of this bubble (and no doubt about it, we are absolutely in a bubble), I'd suggest checking out an exchange (I use Bitfinex) that provides stop loss options.

I'm in pretty major profit right now, so I moved both my bitcoin and ethereum to Bitfinex and set rather loose (~20% below market price) stop losses. This way, when the market tanks, I'll be sold relatively near the top and I can sleep at night without worrying about missing out on gains.

My plan is to simply move those stops up in accordance with price movements, and then tighten them up over the next two weeks. Looks like bitcoin might make a run for $2,000 and with all the good news ether is expecting this month (EEA announcement in particular) I wouldn't be surprised to see it retest $100 and maybe even move past it.

The only thing to watch out for here is, of course, the volatility. Set your stops too tight, and the price could flash crash, stop you out, and then move right back up. As I'm typing this I'm actually watching bitcoin go from $1800 down to $1700 and now back up to $1750, all within about ten minutes. That's why I keep a hefty distance for now, and will only start to tighten those when I think a crash is imminent.

Yes I did wonder where JJG was in this time of high action with so many altcoins being pumped to ridiculous levels. Maybe he decided to take a break from watching crypto markets because it's very stressful when you see coins going 3x, 5x, 10x and you're not on the train. I'm pissed off enough at myself for not getting a couple of these altcoins which I was considering. Even though BTC is going up it has small percentage gains compared to the alts in recent weeks. The alts are down maybe 20% today, but they would have to go down by another 50-70% to revisit levels before the pump, that's how much they have increased.

Capitalone quicksilver gives you a cashback of 1.5% for everything. It used to be 2%, but I could be wrong.

No credit card fees, so I'm only paying about half of the coinbase fees by using the credit card.

(05-09-2017 06:51 PM)CleanSlate Wrote:  Capitalone quicksilver gives you a cashback of 1.5% for everything. It used to be 2%, but I could be wrong.

No credit card fees, so I'm only paying about half of the coinbase fees by using the credit card.

The Discover Miles card is offering 1.5% cash back but they double all cash back earned in the first year... so effectively 3%, although I don't know if Coinbase accepts Discover. JCB also has a card through Marukai that offers 3% cash back but it's got an even more limited footprint than Discover and you have to be a HI or west coast resident to apply. Capital One does have a 2% CB card (Spark) but I believe it's only a business credit card.

Although I hate paying fees, I wouldn't be averse to funding BTC for a big signup bonus on a new credit card. Otherwise, the fees would be too much for continuously buying BTC with credit cards. Is there a particular reason you don't want to transfer money from a bank account? I'd think anonymity would be the main reason in most people's cases, but they already have all your info from your credit card profile.

Using my bank account, I'd be paying the full coinbase fees and there won't be any anonymity. They have all my information from both credit card and bank accounts.

Using a credit card simply saves me money over a bank account, and I have the coins immediately instead of waiting 5 days.