BITCOIN

tebbins

tranquility1 said:

tebbins said:

tranquility1 said:

adindas said:

tranquility1 said:

I've got £1k of BTC.  £1K of DOGE.  And £100 of XLM.

I will be putting a grand or two more into crypto this week.  Which coins do people recommend?


I am interested in XLM and XRP because some say they could be used heavily in the economy in future.  But XRP isn't on Coinbase, and I can't be bothered with other exchanges...

To me I am not buying any cryptos at the current price. I have ADA, DOGE, ETH, BTC for long-term holding and do not have any intention to sell it. I do not buy cryptos when there are a lot of people buying it and the price has already gone up significantly. It might be the wrong decision not to buy now, as they might keep going up, let see. But I will not regret applying this strategy that I have adopted since the beginning. Each to their own apply your own strategy which you believe will work for you.

I am glad I added my position about month ago. I will add my position when people start doing panic sell again such as what you saw about a month ago when they people start panic selling after the news about Chinese Government banning crypto and crypto mining. How come this one was a bad thing? CCP is all about control which is not in line with the spirit of cryptos anyway. Now the miners have moved their operation to other more liberal countries.

I think if you consistently buy when people are panicking, and sell/hold when people are greedy, you'll not do too badly.

Great advice, how do you suggest doing it?

Don't buy a house right now.  Do buy gold and silver.

😆 reading threads like this is entertaining, just don't come crying when you fall victim to a scam or make a big loss 😉

tranquility1

tebbins said:

tranquility1 said:

tebbins said:

tranquility1 said:

adindas said:

tranquility1 said:

I've got £1k of BTC.  £1K of DOGE.  And £100 of XLM.

I will be putting a grand or two more into crypto this week.  Which coins do people recommend?


I am interested in XLM and XRP because some say they could be used heavily in the economy in future.  But XRP isn't on Coinbase, and I can't be bothered with other exchanges...

To me I am not buying any cryptos at the current price. I have ADA, DOGE, ETH, BTC for long-term holding and do not have any intention to sell it. I do not buy cryptos when there are a lot of people buying it and the price has already gone up significantly. It might be the wrong decision not to buy now, as they might keep going up, let see. But I will not regret applying this strategy that I have adopted since the beginning. Each to their own apply your own strategy which you believe will work for you.

I am glad I added my position about month ago. I will add my position when people start doing panic sell again such as what you saw about a month ago when they people start panic selling after the news about Chinese Government banning crypto and crypto mining. How come this one was a bad thing? CCP is all about control which is not in line with the spirit of cryptos anyway. Now the miners have moved their operation to other more liberal countries.

I think if you consistently buy when people are panicking, and sell/hold when people are greedy, you'll not do too badly.

Great advice, how do you suggest doing it?

Don't buy a house right now.  Do buy gold and silver.

😆 reading threads like this is entertaining, just don't come crying when you fall victim to a scam or make a big loss 😉

Likewise don't come crying to me when the money printing stops, the stock market crashes, your house price plummets, and your savings are eroded to dust by currency debasement and rampant inflation.

Scottex99

tranquility1 said:

I've just tried to transfer £2K to Coinbase from my Tesco current account.  

Tesco blocked and withheld my money (without telling me, so I thought for a day that it was lost).

They then call me and tell me that they don't recommend crypto and they will withhold my money for another day to give me time to "think and research".

Hahaha!

"Hello, yes I've thought about it, I still wish to buy BTC and ETH from Coinbase and I'd also like to close my bank account too please, you absolute mugs".

KR

tebbins

tranquility1 said:

tebbins said:

tranquility1 said:

tebbins said:

tranquility1 said:

adindas said:

tranquility1 said:

I've got £1k of BTC.  £1K of DOGE.  And £100 of XLM.

I will be putting a grand or two more into crypto this week.  Which coins do people recommend?


I am interested in XLM and XRP because some say they could be used heavily in the economy in future.  But XRP isn't on Coinbase, and I can't be bothered with other exchanges...

To me I am not buying any cryptos at the current price. I have ADA, DOGE, ETH, BTC for long-term holding and do not have any intention to sell it. I do not buy cryptos when there are a lot of people buying it and the price has already gone up significantly. It might be the wrong decision not to buy now, as they might keep going up, let see. But I will not regret applying this strategy that I have adopted since the beginning. Each to their own apply your own strategy which you believe will work for you.

I am glad I added my position about month ago. I will add my position when people start doing panic sell again such as what you saw about a month ago when they people start panic selling after the news about Chinese Government banning crypto and crypto mining. How come this one was a bad thing? CCP is all about control which is not in line with the spirit of cryptos anyway. Now the miners have moved their operation to other more liberal countries.

I think if you consistently buy when people are panicking, and sell/hold when people are greedy, you'll not do too badly.

Great advice, how do you suggest doing it?

Don't buy a house right now.  Do buy gold and silver.

😆 reading threads like this is entertaining, just don't come crying when you fall victim to a scam or make a big loss 😉

Likewise don't come crying to me when the money printing stops, the stock market crashes, your house price plummets, and your savings are eroded to dust by currency debasement and rampant inflation.

I didn't know the world was ending, do you have a date? Is your doomsday vault fully stocked?
Also serious question, when world ends who will still take bitcoin and run bitcoin exchanges?

Section62

Scottex99 said:

Hahaha!

"Hello, yes I've thought about it, I still wish to buy BTC and ETH from Coinbase and I'd also like to close my bank account too please, you absolute mugs".

Hopefully tranquility1 is already aware their Tesco current account will be closing in the near future.

And because of that Tesco will probably be extremely grateful to any customers taking the initiative and closing their current account (rather than getting benefits from switching away).

tranquility1

Section62 said:

Scottex99 said:

Hahaha!

"Hello, yes I've thought about it, I still wish to buy BTC and ETH from Coinbase and I'd also like to close my bank account too please, you absolute mugs".

Hopefully tranquility1 is already aware their Tesco current account will be closing in the near future.

And because of that Tesco will probably be extremely grateful to any customers taking the initiative and closing their current account (rather than getting benefits from switching away).

I've got loads of bank accounts. Tesco is just a spare one.

My main gripe is that I'm of the mind that I can spend money on whatever I like (as long as it's legal).

If they want to make crypto illegal, then do it. But whilst it isn't, it's my choice what to do with my own money. 

tranquility1

tebbins said:

tranquility1 said:

tebbins said:

tranquility1 said:

tebbins said:

tranquility1 said:

adindas said:

tranquility1 said:

I've got £1k of BTC.  £1K of DOGE.  And £100 of XLM.

I will be putting a grand or two more into crypto this week.  Which coins do people recommend?


I am interested in XLM and XRP because some say they could be used heavily in the economy in future.  But XRP isn't on Coinbase, and I can't be bothered with other exchanges...

To me I am not buying any cryptos at the current price. I have ADA, DOGE, ETH, BTC for long-term holding and do not have any intention to sell it. I do not buy cryptos when there are a lot of people buying it and the price has already gone up significantly. It might be the wrong decision not to buy now, as they might keep going up, let see. But I will not regret applying this strategy that I have adopted since the beginning. Each to their own apply your own strategy which you believe will work for you.

I am glad I added my position about month ago. I will add my position when people start doing panic sell again such as what you saw about a month ago when they people start panic selling after the news about Chinese Government banning crypto and crypto mining. How come this one was a bad thing? CCP is all about control which is not in line with the spirit of cryptos anyway. Now the miners have moved their operation to other more liberal countries.

I think if you consistently buy when people are panicking, and sell/hold when people are greedy, you'll not do too badly.

Great advice, how do you suggest doing it?

Don't buy a house right now.  Do buy gold and silver.

😆 reading threads like this is entertaining, just don't come crying when you fall victim to a scam or make a big loss 😉

Likewise don't come crying to me when the money printing stops, the stock market crashes, your house price plummets, and your savings are eroded to dust by currency debasement and rampant inflation.

I didn't know the world was ending, do you have a date? Is your doomsday vault fully stocked?
Also serious question, when world ends who will still take bitcoin and run bitcoin exchanges?

No.
Yes.
No idea. 

Scottex99

tranquility1 said:

Section62 said:

Scottex99 said:

Hahaha!

"Hello, yes I've thought about it, I still wish to buy BTC and ETH from Coinbase and I'd also like to close my bank account too please, you absolute mugs".

Hopefully tranquility1 is already aware their Tesco current account will be closing in the near future.

And because of that Tesco will probably be extremely grateful to any customers taking the initiative and closing their current account (rather than getting benefits from switching away).

I've got loads of bank accounts. Tesco is just a spare one.

My main gripe is that I'm of the mind that I can spend money on whatever I like (as long as it's legal).

If they want to make crypto illegal, then do it. But whilst it isn't, it's my choice what to do with my own money. 

This, 100%. Are they blocking money to gambling sites where you can rinse 2k on £50 spins on the slots in 5 minutes? No.
Or blocking money to eToro where you can open 10x longs on Oil prices? No.

By all means protect people from stupidly investing in scams for their own good, but telling you to "think and research" is a joke. 

Coinbase will be making 5x the revenue that Tesco Bank does in time anyway

tranquility1

Scottex99 said:

tranquility1 said:

Section62 said:

Scottex99 said:

Hahaha!

"Hello, yes I've thought about it, I still wish to buy BTC and ETH from Coinbase and I'd also like to close my bank account too please, you absolute mugs".

Hopefully tranquility1 is already aware their Tesco current account will be closing in the near future.

And because of that Tesco will probably be extremely grateful to any customers taking the initiative and closing their current account (rather than getting benefits from switching away).

I've got loads of bank accounts. Tesco is just a spare one.

My main gripe is that I'm of the mind that I can spend money on whatever I like (as long as it's legal).

If they want to make crypto illegal, then do it. But whilst it isn't, it's my choice what to do with my own money. 

This, 100%. Are they blocking money to gambling sites where you can rinse 2k on £50 spins on the slots in 5 minutes? No.
Or blocking money to eToro where you can open 10x longs on Oil prices? No.

By all means protect people from stupidly investing in scams for their own good, but telling you to "think and research" is a joke. 

Coinbase will be making 5x the revenue that Tesco Bank does in time anyway

"We're not going to release your money today.  We are going to give you a day to think and research".  Properly patronising.

And when I said I won't send the money to Coinbase, they released my money today.  However, although I can now see it in my account the account is locked and I can't move it.

All because I wanted to buy some crypto.

Malthusian

tranquility1 said:

Tesco are not liable for any losses regarding crypto. And neither are you. I've no idea why you think you are?

Banks can be liable when someone transfers money to a scammer and then says they didn't mean to (push payment fraud refunds) or when they use a debit or credit card to pay someone for goods / services (including crypto) which they never receive (chargeback / section 75 refunds).

People who transfer money to unregulated get-rich-quick schemes are therefore a business risk for the bank. A big one like Coinbase is clearly less of a risk than, say, some website in the Marshall Islands, which is why Tesco Bank has given you a day to reconsider rather than blocking the transfer entirely, but still a risk which they want to limit. Blocking the transfer for a day doesn't stop people moving money to Coinbase but reduces the numbers who will do it (as those acting on impulse because they saw an advert on Facebook may give up and forget about it).

My main gripe is that I'm of the mind that I can spend money on whatever I like (as long as it's legal).

Yes you can. And banks can refuse to transfer people's deposits to whomever they like. If the customer objects they can withdraw their money as cash or transfer it elsewhere and do what they like with it. No-one is obliged to do business with anybody.

Scottex said:
This, 100%. Are they blocking money to gambling sites where you can rinse 2k on £50 spins on the slots in 5 minutes? No.
Or blocking money to eToro where you can open 10x longs on Oil prices? No.

Banks aren't potentially liable if they make transfers to gambling sites as there is no prospect of them being found liable for gambling losses. Same applies to regulated trading platforms.

From a UK perspective Coinbase is an unregulated investment platform.

The bank is not trying to stop you losing your money. They are trying to stop you losing their money by doing things that may make them liable.