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bayoubengals88
Wisconsin Fan
LA
Member since Sep 2007
8118 posts

Buying Ethereum/CryptoTalk
Thank you LSUtoOmaha and DBF for introducing Ethereum to the board and for your research.

1) It's a crypto/digital currency like Bitcoin
2) It's trading at about $80 per unit right now
3) You can buy it pretty easily on coinbase. I signed up and bought within five minutes.

4) You can use your credit card (I'm already thinking of manufactured spending).
5) You can only spend $100 per week via credit card unless you provide picture ID, which I'm a little hesitant to do.
6) There is a 3.5% fee on credit cards

7) You can buy much more by linking a bank account
8) I bought 1.2 unite...if it goes to zero I lost $100. If it turns into Bitcoin then I make a lot of money.

ETA: After adding ID I can now buy $300 per week via Credit Card and $5,000 per week via bank draft. Best I can tell, these limits increase with time and usage.

Big Business Giants JP Morgan, Microsoft, get behind Ethereum
quote:

Thirty big banks, tech giants, and other organizations—including J.P. Morgan Chase, Microsoft, and Intel—are uniting to build business-ready versions of the software behind Ethereum, a decentralized computing network based on digital currency.
The group, called the Enterprise Ethereum Alliance, is set to debut at a summit in Brooklyn, New York on Tuesday, during which members J.P. Morgan Chase (JPM, -0.72%) and Banco Santander (SAN, +1.09%) are scheduled to demonstrate a pilot of the financial technology as it exists today. The pair plan to show off a "spot trade" on the foreign exchange market for global currencies using an adaptation of Ethereum as the settlement layer.
Ethereum uses a blockchain, often referred to as a distributed ledger, to record and execute transactions without the need of a middleman. Instead of a centrally managed database, copies of the cryptographic balance book are spread across the network and automatically updated as any payment takes place.

Grayscale Investments launches 10 million dollar ethereum classic private fund

Now, Let's get rich!
This post was edited on 5/10 at 6:45 pm


dabigfella
Houston Astros Fan
Member since Mar 2016
6629 posts

re: Buying Ethereum/CryptoTalk
well all im going to say about the $80 value is the market cap is $6B vs Bitcoin around $21B, so whatever you do please dont buy it looking for $1500 like BTC at least not short term. LSUtoOmaha is the one to credit, I just mentioned it in passing where people were mentioning facebook,tesla,bitcoin and all the high tech trades missed bc of valuations.

To me after reading alot about Ethereum, it strikes me as something that could dethrone bitcoin. LSUtoOmaha was dead on mentioning a must buy at $52 on tuesday and its $80 right now.

Coinbase is cool but I hate the limits it has in place I bought $2500 yesterday, and it upped my limit to $2700 today so I bought more using the bank transfer. The credit card limits were $100.

Its actually quite a bit more fascinating if you read about it. Great call by LSU to Omaha.


bayoubengals88
Wisconsin Fan
LA
Member since Sep 2007
8118 posts

re: Buying Ethereum/CryptoTalk
quote:

Its actually quite a bit more fascinating if you read about it. Great call by LSU to Omaha.

Yeah I probably won't get any sleep tonight.


dabigfella
Houston Astros Fan
Member since Mar 2016
6629 posts

re: Buying Ethereum/CryptoTalk


texag7
USA Fan
College Station
Member since Apr 2014
19266 posts

re: Buying Ethereum/CryptoTalk
Intriguing for sure. I've been following it on Bittrex along with PIVX for a few weeks
This post was edited on 4/30 at 7:23 pm


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bayoubengals88
Wisconsin Fan
LA
Member since Sep 2007
8118 posts

re: Buying Ethereum/CryptoTalk
What do you think is driving this? I mean, I bought at $80 and it's gone up 2 bucks in thirty minutes.

Is it simply awareness??


okietiger
Atlanta Braves Fan
Chelsea F.C. Fan
Member since Oct 2005
34689 posts

re: Buying Ethereum/CryptoTalk
I wish you didn't troll the MSB so much because I'm finding it hard to trust you


dabigfella
Houston Astros Fan
Member since Mar 2016
6629 posts

re: Buying Ethereum/CryptoTalk
not at all. If I had to guess honestly, fundamentals. It's like your thread where I pounded the table on Tesla at $244 if Mobileye was worth $15B. Tesla vision is worth more than mobileye alone and tesla has a market cap barely over $40B at that juncture. If BTC is worth $21B+ why isn't ethereum worth at least $150 right now, bc thats $14B and 2/3 of bitcoin.

From everything I read fundamentally speaking, ethereum is a better platform. Mainly bc java, there were alot of things about bitcoin that ethereum does better. Like Lsuto omaha mentioned the smart contract, the big businesses using it,etc. All in all same concept more room to grow due to early in crypto life cycle imo.

Again at the end of the day whether its legit or not in the eyes of alot of people, it was up 15% today and that was real money that could have been made. You can't ignore these future trends from social media to cryptocurrencies to electric cars based on valuations. We're an incredible society and we're always moving forward, so why would you invest in the past? Im actually pretty intrigued by alot of the applications ETH is compatible with. I really think it has some incredible real world applications in the near future.

I really wish I could make a decent sized bet on this stuff under $100 and let it ride but it looks like Im relegated to $5000/week now on coinbase until 59 days from now. I read alot about this stuff and I told myself Im going to buy all that it allows me to buy until $100. Then forget about it, and see where it goes. So far I've been able to procure like $6000 worth between the bank transfer and what it allowed me to buy on my credit card which isn't much.


dabigfella
Houston Astros Fan
Member since Mar 2016
6629 posts

re: Buying Ethereum/CryptoTalk
quote:

I wish you didn't troll the MSB so much because I'm finding it hard to trust you


One shouldn't trust anyone online, you could do your homework on everything I say, it matches up when it comes to investing.


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91
dabigfella
Houston Astros Fan
Member since Mar 2016
6629 posts

re: Buying Ethereum/CryptoTalk
LINK

Read that link, the founder of coinbase said some things, it was published today, and he thinks ethereum can blow past bitcoin

quote:

“There is nothing that bitcoin can do which Ethereum can’t. Currency definition economics While Ethereum is less battle tested, it is moving faster, has better leadership and has more developer mindshare.


quote:

Still, Ehrsam sought to position Ethereum as moving the development of “digital currency” and its technology forward, emphasizing that Coinbase intends to support both protocols, and that it sees them growing together to become “low-level protocols” in what could be a new Internet for value exchange.




bayoubengals88
Wisconsin Fan
LA
Member since Sep 2007
8118 posts

re: Buying Ethereum/CryptoTalk
quote:

“Beyond a leadership vacuum, bitcoin’s ‘leadership’ is less clear and toxic,” he said. Fx position definition “The content on the bitcoin discussion boards feels like squabbling while Ethereum’s is talking about relevant issues and new ideas.”

Ultimately, Ehrsam’s most pronounced criticism was that the Ethereum perhaps has momentum on its side, as he said the network is making “faster and more consistent” technical progress than bitcoin.
We shall wait and see.


dabigfella
Houston Astros Fan
Member since Mar 2016
6629 posts

re: Buying Ethereum/CryptoTalk
I dont think you have to wait and see

Ethereum has a transaction time of 15 seconds versus Bitcoin's which can be 10 minutes or longer. From what I read Ethereum is hoping to eventually transition to a security model that will allow it to further reduce its transactions time to 3-4 seconds.

Ethereum is fully programmable via its Solidity smart contract language. So basically, there are an unlimited number of things that you can do with Ethereum that you can't and never will be able to do with Bitcoin.

Its in the top of the first inning as well just like the electric motor. I actually spent a few hours reading about it, watching some videos and I really see nothing to stop this from being bitcoin size or greater. I dont believe its even traded in china as we speak and china is one of the reasons bitcoin is soaring so much in the last 24 months. So if I read right and its not traded in China, just imagine what happens when that occurs.


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TigeRoots
New Orleans Saints Fan
Member since Oct 2008
4811 posts

re: Buying Ethereum/CryptoTalk
I went to buy some today (my $2,500 max) and it told me that it would not be available to me for 9 days. Is that what you guys are seeing also? Not a huge deal as I'm not looking to sell anytime soon, but just curious.


dabigfella
Houston Astros Fan
Member since Mar 2016
6629 posts

re: Buying Ethereum/CryptoTalk
That is correct, i did that yesterday, I sent in my ID after that and today it let my buy $2700. It updates actually every few minutes ie you have a set limit over a week, mine is $5k at this moment so it seems like you get a few extra dollars of credit every few minutes. I think from a risk/reward standpoint anything under $10B market cap which from here would be about $120 is where you stand to make some good money if I had to guess based on where bitcoin is trading market cap wise.

Its interesting to see the big corporations openly supporting this technology: microsoft,jp morgan chase, santander.....I suppose they're not opposed to it like bitcoin bc this thing has real leadership behind it.


TigeRoots
New Orleans Saints Fan
Member since Oct 2008
4811 posts

re: Buying Ethereum/CryptoTalk
quote:

Its interesting to see the big corporations openly supporting this technology: microsoft,jp morgan chase, santander


Yes, that was the lure for me. Seems to be more accepted and supported than Bitcoin by big name Corporations. I believe there is even an ongoing process to get an Ethereum ETF approved through the SEC.

This thing has shot up since Omaha first mentioned it. I've done a fair amount of DD since then and I am still rather confused as to how these crypto currencies work. Would there ever be a practical application for the general public?
This post was edited on 4/30 at 8:51 pm


dabigfella
Houston Astros Fan
Member since Mar 2016
6629 posts

re: Buying Ethereum/CryptoTalk
o man, yes yes yes, I dont have the time to explain it right now, especially since I write these passionate, detailed responses on the things I invest in but this type of blockchain tech is the future. The fact you see things like JP Morgan and Microsoft get behind should tell you as much. Bitcoin for all its fascinating capabilities is still very much a skeptical thing to these big corporations bc there is no face to the product meanwhile this ethereum has a brilliant, 23 year old founder who from everything I've watched and read seems like he's cut from that Mark Zuckerberg,Elon Musk,etc brilliant human being type.

There are a ton of really cool ether based projects coming in the very near future. Here, read this reddit thread for now I'll try to explain more tomorrow, have to get to bed, we have to take our dog in for surgery super early in the morning but it can disrupt a TON of industries.

LINK
This post was edited on 4/30 at 8:57 pm


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41
tigersnipen
LSU Fan
Member since Dec 2006
1781 posts

re: Buying Ethereum/CryptoTalk
up to 9.5 ETH now.


TigeRoots
New Orleans Saints Fan
Member since Oct 2008
4811 posts

re: Buying Ethereum/CryptoTalk
quote:

There are a ton of really cool ether based projects coming in the very near future. Here, read this reddit thread for now I'll try to explain more tomorrow, have to get to bed, we have to take our dog in for surgery super early in the morning.


Cool man, good luck with the surgery.


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rocket31
Toledo Fan
Member since Jan 2008
31024 posts

re: Buying Ethereum/CryptoTalk
im in for the max allowed right now 2500


The Boat
Duke Fan
Nazi Germany
Member since Oct 2008
87185 posts
 Online 

re: Buying Ethereum/CryptoTalk
Anyone had any trouble from their bank for depositing a large amount into Coinbase? I know Chase can be pretty big bitches about this stuff and also online betting sites so I don't want to get shut down by the man.


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