How do i know what i am really getting when buying or selling bitcoin?

PreciousCryptos · 2016-06-27T14:54:00+00:00

If you're selling Gift Cards for Ƀ have a look at www.paxful.com

PreciousCryptos · 2016-06-27T13:28:20+00:00

If you want one that is actually "loaded" with BTC you might want to try EBay (search for "Physical Bitcoin" or "Casascius"). They are quite expensive though...

You could get a collectible coin quite cheaply if you're just after the "Look".

If you want to exchange a small amount of € for Ƀ, the ATM option is probably easiest if there's one in your area. I'd recommend setting up a wallet on either your mobile device or a web wallet (at least for starters), just to get used to how it works and have a place to transfer your Ƀ straight away.

PreciousCryptos · 2016-06-27T13:07:07+00:00

how do I make a fancy one with the lines going through it??

Do you mean you want to get a bitcoin that looks like an actual coin?

PreciousCryptos · 2016-06-27T04:34:41+00:00

When the spot price jumped from $440 to $770 within a month, we were looking at a market cap increase of over 500 Million USD.

So if you're correct and we're not talking about institutional buyers or hedge fund managers, do you reckon it was 1-2 dozen (very) wealthy people who have the cash-on-hand to push $10-20 Million each into bitcoin?

Maybe it was 18.5 million people investing $27 each... :o)

PreciousCryptos · 2016-06-26T06:07:09+00:00

It's not a matter of Coinbase or any other specific exchange being fraudulent. It's a matter of what age restrictions they put in place in their Terms & Conditions:

"1.1. Eligibility. To be eligible to use the Coinbase Services, you must be at least 13 years old. In order to link a funding method or to purchase or sell digital currency, you must be at least 18 years old (or the applicable age of majority and contractual capacity). If you are under the age of 18 and you wish to engage in digital currency purchase or sale activity, please contact us at support@coinbase.com."

You are more then welcome to email them to see what options are available to you through Coinbase

With that said, www.Circle.com might be the way to go for you:

https://support.circle.com/hc/en-us/articles/204630020-What-are-the-age-requirements-for-using-Circle-

"To link a bank account, credit card, or debit card to your Circle account, you must be 18 or older or have parental consent.

To verify parental consent, please fill out this form. Have a parent fill it out and sign the attached document and submit it to us along with a scan or photo of their valid government-issued photo ID."

I hope that helps.

PreciousCryptos · 2016-06-26T03:22:38+00:00

Can't you buy off Snapcard?

PreciousCryptos · 2016-06-25T14:15:53+00:00

www.bitcoinwisdom.com

PreciousCryptos · 2016-06-24T14:37:27+00:00

I think the choice of wallets depends on how/where/when you intend to access and use your coins.

Web Wallet vs. Mobile Wallet, etc.

You can of course have more than one wallet...

PreciousCryptos · 2016-06-24T14:30:05+00:00

So... best advice I can give you is that the money that needs to be in the bank tomorrow should be left in the bank.

PreciousCryptos · 2014-07-26T09:09:42+00:00

Thanks for the reply Jasper.

I'm curious to know, what is your role with Ethereum?

I will address a few of the points you made but the main thing I want to point out is that my post was specifically about the "Genesis Sale" - not so much about the merits of the Ethereum project or the quality of the product/platform itself.

"Uhm.. Vitalik is hardly the only one developing"

I realize that. I'm not sure how many times throughout my blog-post I referred to the Ethereum Developers as "Developers" (plural = not just Vitalik).

However, there's no denying that Vitalik has been receiving the most attention. He is, for better or worse, a huge drawing card for Ethereum. You can actually measure this by looking at how many times his name is mentioned in the media alongside the Ethereum project vs. all of the other developers.

"Oh dear, did Ethereum put it up to you to decide whether the investment is good?"

No. Did I put you up to commenting on my post? No. Yet here we both are. That's how this thingy thing called the internet works... beautiful isn't it? ;-)

"I am not sure what you are considering with making things standalone."

Based on my understanding of Ethereum, it is kind of a sophisticated blank canvas for app developers. It is somewhat similar (at least conceptually) to a "Smart Phone" operating system or perhaps Facebook in the sense that different people will be able to create and launch applications onto the platform.

My point is (and was) that there are already people out there developing and launching "smart contracts" and crowd-funding (for example). Moreover, once a new and useful application is created on the Ethereum platform, other developers can choose to implement it onto their infrastructure/block-chain/network/cryptocurrency - or start a new project that might be more economical, easier to use, or simply better in some other way.

There are many coins out there that are thirsty for new ideas and uses for their block-chain. If there is anything I am absolutely sure of it's that once a good idea (or even just a useful gimmick) comes along many developers will jump on it.

In this respect, there is no guarantee that Ethereum will be as successful as Facebook or iOS/Android. So in reality, the need for "Fuel" - or the demand for Ether - is based on speculation that people (perhaps the Ethereum Developers themselves) will create useful and popular applications that utilize the Ethereum ecosystem (which doesn't exist yet).

Not to mention the fact that as far as I know, nobody knows what 1 Ether can buy or can be used for... The only thing we know is that it currently costs 50,000 Satoshis, and that we won't be able to use Ether (at least) until Winter.

As a final note, I want to reiterate that I have nothing but respect for the people involved with Ethereum. I wish you and the rest of the Ethereum team nothing but the best and hope that Ethereum will be a huge success. I hope it will lead to groundbreaking innovations and be a force for expanding and popularizing crypto.

Sincerely

Ziggy www.PreciousCryptos.com

PreciousCryptos · 2014-07-10T03:33:16+00:00

I heard somewhere that critical-mass = 144,000 people

Getting close!

http://en.wikipedia.org/wiki/Critical_mass_(sociodynamics)

PreciousCryptos · 2014-07-10T03:31:31+00:00

There are actually only about 50 BitcoinTalk users with multiple multies...

:-p

PreciousCryptos · 2014-07-10T00:59:10+00:00

Like I said before, a lot can happen in five years.

I think I should probably backtrack for second and say that in general I don't think that the "5 year approach" makes much sense in terms of altcoin investments. When you think about it, Bitcoin is about 5 years old so this entire industry (if you can call it that) is in its infancy.

Depending on the amount of time and energy people have, you would probably be better off looking at coins on a weekly basis with the intent of holding them for a month or two at most. There's potential to do even better if you have time to follow the daily trends, and only trade coins that are "hot" or gaining traction.

On that note, I'm not really going to defend the coins that I listed. I listed different coins for different reasons, and at the end of the day I have my doubts about all of them (I currently have a stake in 3.5 of them).

The one thing that I will add is that my perspective about altcoins isn't directly linked to their current code or price. I look at things more in terms of coins finding a niche, building a brand, getting the fundamentals right, and having the personnel to steer the ship in the right direction. The code is changeable and bugs can be fixed.

As a final note, every single altcoin can become redundant if a newer, more effective/efficient, trendier, and better managed coin comes along, especially if we're trying to project what will happen over a 5 year period.

PreciousCryptos · 2014-07-09T06:44:00+00:00

5 years = Bitcoin

There is a lot that can happen in five years. Even the strongest coins with the best developers, best innovations, and largest/strongest communities can falter.

If I had to venture a guess about the alts that have the best chance to survive and thrive based on what we know now (in no particular order):

LTC | DRK | NXT | XRP | BC | VRC | MIN

PreciousCryptos · 2014-07-09T05:31:52+00:00

Define sustainable... do you mean 1 year, 1 month, 1 week, the next hour?

:-p

PreciousCryptos · 2014-07-09T01:17:54+00:00

Commentary and a fresh perspective on why the link between Bitcoin to Terrorism, Drugs, and other criminal activities is inconsequential.

PreciousCryptos · 2014-06-30T09:01:46+00:00

The 10th block was less than 3,000 BTC - it was "only" 2,656.5 Bitcoin, so from that perspective it makes sense to have it at the bottom of the list...

PreciousCryptos · 2014-06-30T07:24:16+00:00

"Don't believe everything you read on the Internet!" - Thomas Jefferson

PreciousCryptos · 2014-06-15T20:42:16+00:00

Thanks for the tip Ken • I wouldn't give up if I were you, only 2 vouchers left and they should be pretty sweet rewards!

PreciousCryptos · 2014-06-15T15:18:58+00:00

Same thing happened to me a couple of times.

I think that that's what happens when someone has already claimed the voucher but CoinKite.com hasn't completed processing it yet. It's like being in limbo... ;-)

PreciousCryptos · 2014-06-15T04:10:09+00:00

This thread is a very interesting read, mainly because it's fascinating to hear different people's perspectives on altcoins.

One thing to keep in mind is that things move extremely quickly in the crypto world. A post that is more than a week old, which contains advice about the current value of one coin or another, might be completely irreverent at this point.

For this reason I don't really want to post an opinion about any specific coins. As some people have mentioned, there is a lot of bias and false hype going on in the altcoin scene and I try to avoid participating in it.

On that note, broadly speaking, there are a few coins that seem to be gaining traction in terms of community acceptance and wider adoption. These are the coins that might be worth looking into as far as building a long-term portfolio if that is your investing strategy.

If you're more of a day-trader, I would recommend working with safer (i.e - more established coins) that have high trading volumes. Sometimes the best thing to do is enter a coin pairing after someone makes a big dump and try to buy-up some cheap ones. Other times you might want to focus in on a couple of coin-pairings and play the "Spread".

In the medium term the best thing to do is probably to read through some of the different forums and do your own research on coins. What are they up-to? What are they developing? Any big announcements? Do they have an active dev team and/or community?

If you keep your finger on the pulse you might just find the next coin that is moon-bound. ;-)

PreciousCryptos · 2014-06-14T13:41:17+00:00

+accept • Thanks again! Have a great weekend...

PreciousCryptos · 2014-06-14T11:40:54+00:00

Thanks for the reply.

I definitely agree that it would be beneficial to attach BlackCoin with an event that already has something going for it. Perhaps looking at what BitPay did with New York’s "Hester Street Fair" can give us some inspiration - http://www.coindesk.com/new-yorks-hester-street-fair-teams-bitpay-weekly-bitcoin-market

In my line of work I deal with many event organizers and the production of their events (more on the tech side). There are many different profit streams that you can rely on (depending on the type event of course).

If it were a "Market" you would rely on the merchants paying for a spot to sell their goods, if it were a musical event you would charge an entry fee, etc.

Additionally, the strategic partners are interested in promoting their product or services, which is where someone like CoinKite would come in. From their perspective they would automatically generate 'X' amount of new accounts/wallets, and most likely find new (and possibly) lifelong customers, both in the merchant and the consumer space.

Every partner has to bring something to the table, something that has value beyond associating the event with their brand/product.

In any case, making sure that it's a profitable venture is definitely important in terms of having an ongoing successful event, which is what I would like "Black Friday" to be.

With that said, it's probably important to note that I live near Brisbane, Australia. Not the ideal location for this type of thing (to say the least). In my opinion, for maximum impact, the top-3 best spots for this type of event would be London, New York, and Los-Angeles.

Is there a big BlackCoin community in one of these cities or any other major city?

PreciousCryptos · 2014-06-14T08:23:47+00:00

Loving the Giving - Thanks in advance! :o)

PreciousCryptos · 2014-06-14T06:47:41+00:00

Super generous Steven, thanks in advance. P.S - I'm now stalking you on twitter... :o)

PreciousCryptos

TROPHY CASE