Crypto Currencies ~ " Duck Tales Spin From The Crypt"

Hmm, I was never asked on coinbase, but I'm struggling to get past this on GDAX. It won't verify my DL.

 

I tried to set up a Coinbase account multiple times this morning and they keep closing it without telling me why? Any ideas?

 

They ask it when you want to increase your transaction limits passed 50k

 

This happens every time they get a huge surge of people trying to setup accounts. Due to the recent price surge I read an article that Coinbase is trying to get over 14 thousand new accounts approved. Unfortunately you'll just need to wait until they get to your stuff. And they do answer your emails, it just might take awhile at the moment.

 

Also, if you want some very helpful info and some guys that know their crypto stuff, join the FB closed group Crypto Coin Trader. Todd and Joe Blackburn know their stuff.

 

I figured it was volume related. Im just bummed because I dont think it is a matter of getting my account verified, they are literally closing it and I cannot even log back into it. I think it is two separate issues unfortunately.

 

I was just reading into this and I find it funny how government works. They don't want to accept it as a valid currency, but yet when their people dabble in it with their money they want a piece of the pie all of a sudden.... they treat it as an asset and want to tax it but there is no way they will adopt the currency

 

So I've seen two other people ask about Kraken (in addition to my asking 10 pages back), and now a third person has "heard" bad things. DOES ANYONE HAVE PERSONAL EXPERIENCE?!?! The only "bad" things I've read about it difficulty getting verified (which I'm almost done) and trades don't always happen immediately, which would be a problem if you're actively trading, but for long term investing it's a minor hiccup.

Everyone says use Coinbase, but so far everyone has had issues this week. Kraken trades coins-USD direct, so you don't have to buy bitcoin to transfer that to another altcoin, you can simply do crypto to USD and transfer to the bank.

I'm still waiting on my 3rd tier verification, but once you get it your daily limits are $25,000 USD.

 

Keep us updated on how kraken goes.
Was the verification process easy? Is it as involved as the coinbase? (i.e. need DL & selfie)
Lastly is it working smoothly for you as far as setting up a bank account or credit card?

 

It's a 3 Tier process, I'm on my 3rd day of waiting to get approved. You have to do the ID & selfie thing. My buddy submitted his two days before me and got approved already. You can't link your account until it's approved.

I had some connectivity issues trying to upload my pictures, which is one of the 2 major "issues" users have with the software. Other than that it's been pretty easy to use. Another common complaint is that their UI isn't that "user friendly". Guess that means there's no emojis to explain shit to millennials, but I thought it was very easy.

 

Next step is a picture of your anus, and a DNA swab/spit sample. Just wait.

Who wants to bet some cryp coin on it?

 

I don't see anything wrong with treating capital gains on bitcoin just like any other capital gains...say on gold, oil, or stocks. I think someone summed up my thoughts perfectly when they said it's a commodity, not a currency. Just like buying oil gives you the ability to make gasoline and buying gold gives you the ability to make jewelry, buying bitcoin gives you the ability to make payments to other holders easily and without anyone knowing who you are.

That being said, it's an investment that you made money on - it's still income.

 

I mean, Facebook went there.

I think that's the biggest "I don't trust it because..." excuse. Frankly, it's not commonly accepted right now so it's not monitored to the extent wire transfers are, but I guarantee in our lifetime it will be in some way. Everyone thinks it's gonna crash because governments are going to make it "illegal". The governments and banks don't like it because they don't have control over it. But times are a changin'

 

Well I guess when you put that way....lol
I guess it kind of went over my head really because I don't do much with stocks. I've never cared to learn how to trade on the stock market, but I guess should start researching all this stuff

 

I def recommend it man! I graduated college, got a job as an engineer, and the first week the other new guy sitting next to me got me into stocks. 9 years later and I still check them every day, have most of my liquid cash in there in addition to long term retirement investments. Some times I get up at 0330 here in hawaii to check the market open. It's almost like an addiction once you get into it.

I got into options trading this year, it's freaking insane! (see The Big Short). I was up and down all year but overall I'm up 25% to date, I'll take it for my first year of doing it.

In hindsight, I love my job as an engineer but wish I got a degree in finance. I've learned I'm much more passionate about that.

 

So serious question - is what you bolded of my comment untrue? Can identities be traced? My understanding was that the whole thing was structured to hide the identities of individuals using it. If that's the case (and it has to stay that way), you can kiss it goodbye as ever being the main currency of the United States. No way will that fit under the current Bank Secrecy Act/Anti-Money Laundering laws...nor should it, IMO. I want my government to be able to track if drug money is being laundered or terrorists are funding things through our financial system. And you need regulation to have consumer protection. If you want it to be unregulated, don't expect any help when anyone steals your bitcoin or it goes missing when an exchange closes. At least now you have FDIC insurance.

If you don't want your government to have a monetary policy that encourages stable prices and stable/increasing purchasing power for you, then I don't really know how to respond to that.

 

Litecoin is available again

 

What am I missing ? I signed up easily in coinbase app. No DL or picture is needed

Never mind I see it's for large transaction amounts

 

I do wonder if this has something to do with people who are excited about bitcoin vs those who aren't. I was a finance major and have worked in bank regulation for the past 8 years, so I live and breathe traditional banking every day. There is just so much that is scary to me as someone who is in that industry with bitcoin that it's hard for me to wrap my head around it and why people are so excited and want this kind of currency system vs what we have today. But a lot of people that I know that are into it are engineers, computer scientists, and other very tech-savvy people. I am admittedly a traditionalist who believes in the value of the Federal Reserve system as we have it today. As I stated before, I think bitcoin and these other currencies have done a GREAT job of pushing the discussion further on our payment system (which severely lacks the rest of the world) and I think there are a lot of benefits there.

I also admittedly get very annoyed at people who think the entire banking system is some kind of corrupt mechanism designed to hold people down and encourage wealth disparity. I work every day to protect each and every one of us from fraud and the like and can tell you that 99.99% of the banking industry is made up of good people who just want to provide a service that people need to survive. Thinking that these people want to keep you all from succeeding is the furthest thing from the truth. People also need to make a big distinction between commercial banking (your local bank down the street) and investment banking, which is an entirely different industry and way more responsible for many of the problems people see.

I guess I also find it interesting that bitcoin users have no qualm with the creator of bitcoin holding 1 million bitcoins all to himself....creating $9B in value (@ $9,0000/share) for himself while he just hangs out and lets you all take the risk. Talk about "the 1%".

 

Published today good read.
https://www.cryptocoinsnews.com/bit...reum-price-20-cryptocurrency-market-corrects/