Has anyone heard about this token sale that is happening tomorrow for TenX? TenX seems like a legit business that will allow you to spend your cyptocurrencies with a card. It will allow multi-coin support and you can even get cash back much like a credit card.

I'm setting up an account on myetherwallet to get in on the ICO. I have about 14 ETH and want to finally get in on one of these things especially with a company that is creating something I would actually use.

Here is the site:

https://www.tenx.tech/

UPDATE:

It looks like the pre-sale is already finished and you cannot get in. Does anyone know if this will be on one of the exchanges?

(Today 06:35 PM)Digimata Wrote:  I'd like to point out to you guys who are thinking lowball bids is your ticket to the 1% a few issues with your thinking:

1)You need to accurately call the correct pair being dumped
2)You need to accurately call the correct exchange having issues
3)You need the exchange to NOT bust your trades. If you sold, now you are short from $0.01 or whatever to the current market price. If you are lucky, the exchange will just invalidate your trades.

If you can do all 3 above, or even 1 of the 3 you should just buy lottery tickets with all your money.

Not to shit on you guys, because I do the same lowball bids with a bot but you guys are missing a lot.

Mind dropping a mini data sheet?

(Today 06:02 PM)SamuelBRoberts Wrote:  Is there ANYTHING Coinbase offers that GDax doesn't, besides higher fees and a dumber interface? Both are FDIC insured, and I'm fairly certain that Coinbase uses the prices from the GDAX exchange.

As mentioned several times in this thread, Coinbase is like a bank and GDAX is an exchange... but they are owned by the same company (they just split in their naming a couple of years ago, and folks thought that one or the other was going to be spun off, but has not happened yet)

There are a few differences (or advantages) of Coinbase.

1) you can instantly buy / sell directly from/ to your bank - on gdax you have to send money there first and takes longer to send money back to your bank.

2) I actually thought that coinbase dollars were insured and GDAX was not, so maybe we need clarification on that issue?

3) some people are intimidated by the exchange interface.

4) You can set up automatic buy/sell of crypto on coinbase that is not possible on GDAX

5) there are merchant service features that go through Coinbase that do not go through GDAX

6) coinbase has a vaulting feature

7) probably some other advantages that I am not thinking of.

By the way, of course, Coinbase has been using GDAX as their algorithm pricing of currencies, especially once the trading volume picks up and becomes somewhat mature. When the trading was not mature on GDAX they were using other indexes to price their cryptos.

I doubt that they completely disclose how the build their pricing algorithms, but for the most part, you do see what price you are going to get before you hit "buy" or "sell", so if you do not like the price or the fees, then can shop around for other ways to buy or sell.

(Today 06:36 PM)Bill Brasky Wrote:  

(Today 06:00 PM)JayJuanGee Wrote:  

(Today 05:37 PM)Bill Brasky Wrote:  

(Today 05:36 PM)Satoshi Wrote:  

(Today 04:15 PM)Bill Brasky Wrote:  I'm probably going to end up leaving coinbase. I'm sick of it shutting down whenever there is a lot of movement.

What is the best way or exchange to take advantage of these flash crashes?

Your question is the same as to ask which numbers will be drawn at the lottery tomorrow

Ok. Which exchange do you use the most?

I understand that you are frustrated with Coinbase, but all exchanges have their particular issues.

Since you have already set up an account on coinbase, I would not recommend shutting it down completely because it can be good to have a variety of potential entry, liquidation and/or trading avenues, even if you do not use it for an extended period of time. And, also sometimes you will find that there are quick arbitrage opportunities that might exist on one exchange that does not exist on other exchanges, as long as you are already set up.

Besides, GDAX I have trading set up on Bitfinex, Bitstamp, BTC-e, Gemini and Uphold. Each of them have advantages and disadvantages.

I won't shut it down but I want to start using other options. I am going through verification for Tether. It's a bit complex though as I live in Mexico and I need to provide proof of residency with a utility bill. I can't do this because it's included in my rent. I'm going to see if landlord will let me create an account in my name.

Most exchanges will work with you regarding various ways to prove your identity, even if you cannot provide the specific thing that they are asking. Usually, they will have 2 out of 3 options and if you have some situation in which you are not able to verify in the way that they want, they may have alternative ways to verify your identity.

I would not get involved in fucking around with the landlord, unless you just want to get the utilities or something put in your name for one month or something like that. But the better way, might just be to work with the exchange and explain your situation in order that maybe some other reasonable means might be agreed in which you can verify your identity.

(Today 06:36 PM)Bill Brasky Wrote:  I also looked at localbitcoins here in Mexico City. There seems to be about a 15% mark-up so definitely not interested. Even with Coinbase fees it's still much less.

Bitfinex is not accepting USD deposits. I remember when I first created my coinbase account there wasn't nearly this much red tape.

I guess for all its problems its really not that bad.

Yeah. Coinbase has experienced larger international expansion than a lot of other services, so it has established some economies of scale type advantages.

And, yeah local bitcoins varies a lot from location to location, so yeah not always a preferred mechanism, but sometimes you can get a better price if you place your own advert, rather than responding to someone else's advert.. Then you set your own conditions and see if anyone bites... of course building a reputation helps a little bit on that site, so sometimes you may do a couple of higher fee transactions just to begin to build a little bit of a reputation.

If you are a US citizen living in a foreign country, you may have some limitations in your options, but Bitmex is a pretty major exchange, and I am not sure if you can get into that one based on being in Mexico? (I just looked on the Bitmex website, and it appears that they do not even allow for fiat deposits, so rule that one out).

Sometimes you may have some buying/selling options that are not apparent, and it could be possible for you to find out if there are any crypto meet-ups in your area, maybe bitcoin would be the most likely, but there may be some other kind of crypto meet-ups, possibly, depending on your city? I believe that they have had some crypto related conferences in aculpulco, I think? and there maybe some others, too that could be good for networking and brainstorming with like minded folks.

If its 15% arbitrage. that means dollars are worth less in Mexico.

Sell BTC in mexico, travel back home with cash. Cashing !!

?

(Today 08:25 PM)pants Wrote:  If its 15% arbitrage. that means dollars are worth less in Mexico.

Sell BTC in mexico, travel back home with cash. Cashing !!

?

I'm aware that there are safe areas in Mexico, but I'd still be very hesitant to broker business deals that involve big sums of cash in that country... doubly so with strangers off of the Internet.

(06-21-2017 10:18 PM)Travel Museums Wrote:  How do you profit off that kind of mistake without leaving money on the table in open buy orders at ridiculously low prices??

I'm guessing get a margin account? Then use the leverage to only have a few bucks on the buy orders?

Who the hell would keep open buys on ETH at $13?? As far as I understand there are no options trades on ETH or other crypto... It would be nice if there were. Whatever exchange offers that is going to become the NYSE of crypto!

Here is another idea. If you are a long on bitcoin/eth keep that money on GDAX. it's one of the few exchanges that allows BTC/ETH and ETH/BTC trades. You can set the ridiculous open buys in those trades. So if either has a flash crash you borrow from the other to take advantage. Borrow from Peter to pay paul. Borrow from paul to pay Peter. So long as there isn't a simultaneous crash you're fine. Sneaky sneaky.

There is no BTC/ETH trading on GDAX, you can only buy ETH with BTC.

You could still set some really low and really high limits though, to take advantage of either flash crashing. Maybe something like .01 ETH/BTC and 9.9 ETH/BTC.

(06-22-2017 08:25 PM)pants Wrote:  If its 15% arbitrage. that means dollars are worth less in Mexico.

Sell BTC in mexico, travel back home with cash. Cashing !!

?

http://benjaminmorales.com/monitor/

There is about a 2.6% difference in the price of Bitcoin between US and Mexican exchanges. That's around $71 per bitcoin at the time of this writing.

If I still lived in Southern California you better believe I'd be hitting up some of my buddies with dual-citizenship.

Aren't some RVFers living in Japan and Korea? Could make more than $200 per Bitcoin by using a VPN connection to trade their US accounts.

I have a Japanese VPN.

Is it really that easy?

Be careful w/local bitcoins. all it take is 1 scam/roberry to wipe all potential profits.

Counterfeit bills/risk of robbery/ unlicensed money exchanger crack-downs/shake down by police.

There is one group of people who use bitcoin a lot and are somewhat trustworthy- HS poker players.

That being said, few of you are in that world and its unlikely that you have the reputation to transact w/them....

(06-23-2017 01:38 AM)SamuelBRoberts Wrote:  I have a Japanese VPN.

Is it really that easy?

I say go for it. if you are lucky these Mexicans might even have some packages they need to deliver back to the states for some additional cash.

On a serious note. If there is a difference in price, this price difference normally exist for a reason.

Remember there was a huge price difference between US/China of bitcoin a few years ago. Not because a bitcoin was more valuable in China(after all this is a borderless currency), but because Dollars was less worth in China as they were hard to smuggle back out.

But if you are planning a trip to a country with a higher price in money, you could get your travel discounted if you plan spend the money you earn selling bitcoin in these places.

(06-23-2017 01:38 AM)SamuelBRoberts Wrote:  I have a Japanese VPN.

Is it really that easy?

No it's not. You will have to be registered and verified. Then you will need to find a way to send fiat between the countries. And hope that the price doesn't change while you are doing the transfers which it probably will. '

(06-22-2017 06:41 PM)Bill Brasky Wrote:  Has anyone heard about this token sale that is happening tomorrow for TenX? TenX seems like a legit business that will allow you to spend your cyptocurrencies with a card. It will allow multi-coin support and you can even get cash back much like a credit card.

I'm setting up an account on myetherwallet to get in on the ICO. I have about 14 ETH and want to finally get in on one of these things especially with a company that is creating something I would actually use.

Here is the site:

https://www.tenx.tech/

UPDATE:

It looks like the pre-sale is already finished and you cannot get in. Does anyone know if this will be on one of the exchanges?

I was reading about this and honestly I see no point in buying those token at all. Services like this is already available so I do not see why I should support them opening another one? Their terms are better, but so far no one has received a card and what happens when their bank change their terms? Obviously tenx will have to change their terms too. If they know how to build that application already why do they need the collect a bunch of money?

No exchange actually trades BTC/ETH that I am aware of, they all do ETH/BTC.

This means 1 ETH buys xx BTC (currently .12BTC)

But it is the same thing, just the math is backwards. A little confusing at first. Forex trading is done the same way.

Depending on which side of the trade you want to play you would buy/sell accordingly (i.e., bullish on ETH - buy ETH sell BTC. Bullish on BTC - buy BTC sell ETH).

This pair requires a bit more knowledge and thinking as there are not 1, but 3 factors affecting its price.

1. USD effect on ETH;
2. USD effect on BTC;
3. ETH price relative to BTC (i.e., everyone sells BTC to ETH, but no trades to fiat will positively affect ETH side).

Might be a bit off topic, but does anyone have any experience with using mining services such as hashflare or with at-home mining in the current age of cryptocurrency?

I ask because I was looking into building a mining rig for fun. That led me to GPU rigs and I figured there is no way that is the most efficient technique (using graphics cards for non-graphics functionality) and that led me to ASICs, and the cost of ASICs led me to services such as hashflare.

Anyone have any ideas on short-medium-long term targets for ETH and ETC?

I'm also curious to see what happens then ETH moves to PoS and maybe whether ETC makes up ground on ETH after that.

(06-23-2017 01:38 AM)SamuelBRoberts Wrote:  I have a Japanese VPN.

Is it really that easy?

How will you get the yen back into the US without raising questions?

I think this only works if you have resided in and have bank accounts both places.

Fucking poloniex 58 hours now waiting on a "completed" withdrawal, what bunch of cunts! ARRGGGGGGGGGGGGHHHHHHHH

(06-23-2017 04:26 PM)Stun Wrote:  

(06-23-2017 01:38 AM)SamuelBRoberts Wrote:  I have a Japanese VPN.

Is it really that easy?

How will you get the yen back into the US without raising questions?

I think this only works if you have resided in and have bank accounts both places.

I could probably actually pull this off if I wanted to. The question is whether I have enough liquid assets that I feel comfortable throwing into an arbitrage scheme to do it.

(06-23-2017 05:41 PM)SamuelBRoberts Wrote:  

(06-23-2017 04:26 PM)Stun Wrote:  

(06-23-2017 01:38 AM)SamuelBRoberts Wrote:  I have a Japanese VPN.

Is it really that easy?

How will you get the yen back into the US without raising questions?

I think this only works if you have resided in and have bank accounts both places.

I could probably actually pull this off if I wanted to. The question is whether I have enough liquid assets that I feel comfortable throwing into an arbitrage scheme to do it.

Japanese KYC/AML laws are incredibly strict so probably your best bet would be to buy crypto on a US exchange and then sell it on localbitcoins for physical yen. Luckily, Japan is still very much a cash society, so that probably wouldn't be as big of a deterrent to the Japanese as people in the US. Still can't believe how many people routinely go around with less than $5 in their wallets.

So as long as you're using the yen in Japan and not expatriating $10k USD worth on your person, you should be fine, right?

Well, I have plenty of contacts there, some of whom are close enough that I'd be comfortable doing this with them...

But the fact that I don't know what a KYC/AML law is probably an indication that I'd be getting myself in over my head.

SamuelBRoberts, yeah you are over your head. Not to shit on you but the KYC/AML part is the whole barrier to this, whether you or an associate tries to execute this.

Take your typical arb execution: Buy on Gemini(USD) -> Sell on Bithumb(KRW). Wire the proceeds back stateside and repeat. Asian exchanges are trading about 900-1K over USD exchanges.

Where it breaks is the wire back. Korea has cap controls like China, and both Korean and Japanese KYC/AML will have you proving source of income(good luck with this).

Sure, you could withdraw cash, then you are now a frequent flyer(hope you don't jetlag easy) and risk seizure of cash when you land in the States.

I have korean buddies with accounts in both countries and they can't even pull it off. But hey, if you magically figure out a way, let me know I'll cut you in.

(06-23-2017 09:36 PM)Digimata Wrote:  SamuelBRoberts, yeah you are over your head. Not to shit on you but the KYC/AML part is the whole barrier to this, whether you or an associate tries to execute this.

Take your typical arb execution: Buy on Gemini(USD) -> Sell on Bithumb(KRW). Wire the proceeds back stateside and repeat. Asian exchanges are trading about 900-1K over USD exchanges.

Where it breaks is the wire back. Korea has cap controls like China, and both Korean and Japanese KYC/AML will have you proving source of income(good luck with this).

Sure, you could withdraw cash, then you are now a frequent flyer(hope you don't jetlag easy) and risk seizure of cash when you land in the States.

I have korean buddies with accounts in both countries and they can't even pull it off. But hey, if you magically figure out a way, let me know I'll cut you in.

Family office guys have been doing this ever since the spread got big enough and were making hand over fist in the process. Surprisingly, the decision to allow the funds back to the US is almost entirely dependent on the bank's say-so rather than any type of regulatory body. If you have a good, longstanding relationship or are close with the decision makers, they're much more amenable to these types of transfers. Although Korean nationals have a hard cap of $50k, as long as the non citizens can jump through the bank's hoops, there's no limit to the money they can expatriate.

The more unpredictable problem I see now is that the Korean exchanges have recently been limiting and in some cases preventing fiat withdrawals. Can still get around it by selling on localBTC, but it doesn't scale as well, plus another hurdle in explaining where the cash came from when you deposit actual paper money into your account instead of a bank transfer with a paper trail.

KYC/AML (Know your customer/Anti-money laundering) laws are really not an issue guys.

I've been doing this since March when my Korean brethren started paying 10-30% premiums. Bless their souls.

Ever heard of Alpha Bay? Ever heard of MacArthur Park?

My name is Kim Ha-joon.

There is a way, there is always a way. You find a way.

(06-23-2017 10:15 PM)Armogan Wrote:  KYC/AML (Know your customer/Anti-money laundering) laws are really not an issue guys.

I've been doing this since March when my Korean brethren started paying 10-30% premiums. Bless their souls.

Ever heard of Alpha Bay? Ever heard of MacArthur Park?

My name is Kim Ha-joon.

There is a way, there is always a way. You find a way.

Care to share?

KYC/AML has been a big hurdle that makes opening new accounts on exchanges a frustrating ordeal. I'd given up on 2 or 3 sites because they asked for everything and the moon.

So... what's your secret?

Where are people getting their information about crypto?

For me its this forum.
Some bitcointalk, but very little really.
cryptocoinsnews.com
https://www.reddit.com/r/Bitcoin/

Youtube
Ivan on Tech https://www.youtube.com/channel/UCrYmtJB...ov84ulV-yg
Good at explaining, and very structured videos that explains more specific topic.

Almost every video from Andreas Antonopoulos. Hes great at explaining most topics in a very understanding way.
Dollar vigilant. Interesting, but too focused on government, and too little tech. But an interesting angle.

Other places for good information?