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Started By
Message
Bitcoin- am I doing this right?
Posted on 11/29/17 at 8:41 am
Posted on 11/29/17 at 8:41 am
1. Buy BTC from Coinbase linked to checking acct
2. Transfer BTC to blockchain
3. Send BTC from blockchain to website
Reverse what I did for payout?
2. Transfer BTC to blockchain
3. Send BTC from blockchain to website
Reverse what I did for payout?
7
Posted on 11/29/17 at 8:42 am to SilverStallion
Get a bookie and avoid all of that nonsense. 
Posted on 11/29/17 at 8:48 am to Bunk Moreland
I finally figured this out lol (I think) 
Posted on 11/29/17 at 8:57 am to SilverStallion
1. Buy BTC
2. Make more by letting it sit there than gambling
2. Make more by letting it sit there than gambling
Posted on 11/29/17 at 8:58 am to SilverStallion
Buy on coinbase or gdax. Send to nitrogen account
Actually just listen to the guy above me
Actually just listen to the guy above me
This post was edited on 11/29/17 at 8:59 am
Posted on 11/29/17 at 9:50 am to jsk020
Won’t coinbase end up closing/locking your account if you’re sending straight to site?
Posted on 11/29/17 at 11:50 am to Bunk Moreland
quote:
Get a bookie and avoid all of that nonsense.
sending coins to someone is like sending an email baw
you have a to: and from: address
Posted on 11/29/17 at 12:07 pm to rocket31
So I’m doing it right?
Posted on 11/29/17 at 12:13 pm to SilverStallion
if your coins are in a wallet its as easy as sending it to the address they provide when you click to make a bitcoin deposit
This post was edited on 11/29/17 at 12:14 pm
Posted on 11/29/17 at 1:39 pm to rocket31
Ok cool. Thanks
Posted on 11/29/17 at 8:56 pm to jsk020
What is the downside of holding BTC in a coinbase account ?
Could it get stolen?
Could it get stolen?
Posted on 11/29/17 at 9:20 pm to Kennerkarl
I think Coinbase is pretty safe. However, having Bitcoin on your own hard drive is the safest (IMHO). The whole point of Bitcoin is decentralized money. If people are storing their bitcoins at online banks, it's no longer decentralized anymore (a la Mt. Gox)
Posted on 11/30/17 at 1:35 pm to SilverStallion
1. Buy from Coinbase (or Gemini)
2. Send to website. On the website you can find/make your personal wallet ID/address, that is what you send it to.
I don't think Coinbase cares one bit where you are sending it to. I sent some btc to bovada at the start of football season no problem.
2. Send to website. On the website you can find/make your personal wallet ID/address, that is what you send it to.
I don't think Coinbase cares one bit where you are sending it to. I sent some btc to bovada at the start of football season no problem.
Posted on 11/30/17 at 2:39 pm to SilverStallion
if you're buying it for the first time at it's all-time high, then i'd say no, you're probably not doing it right
disclaimer: i do not own a car with doors like this \/
disclaimer: i do not own a car with doors like this \/
Posted on 11/30/17 at 3:12 pm to crazycubes
quote:
I think Coinbase is pretty safe.
Coinbase loses bid to keep Bitcoin customer records from IRS
quote:
Bitcoin exchange Coinbase has lost a bid to keep the IRS from seeing customers' trading records as part of a tax-avoidance probe.
US Magistrate Judge Jacqueline Scott Corley for the US District Court in San Francisco ruled Wednesday that the exchange must supply the tax agency with the identities of all users in the US who conducted at least one bitcoin transaction equivalent to at least $20,000 between 2012 and 2015. Corley said a "reporting gap" gave the IRS legitimate reason to demand the information.
"That only 800 to 900 taxpayers reported gains related to bitcoin in each of the relevant years and that more than 14,000 Coinbase users have either bought, sold, sent or received at least $20,000 worth of bitcoin in a given year suggests that many Coinbase users may not be reporting their bitcoin gains," Corley wrote in her judgment. "The IRS has a legitimate interest in investigating these taxpayers."
The Justice Department said in a filing last year that an IRS agent had identified three cases in which cryptocurrencies were used to avoid paying taxes. Two of those cases involved Coinbase customers with millions of dollars in annual revenues, the filing alleged.
Posted on 11/30/17 at 4:27 pm to KamaCausey_LSU
quote:
I don't think Coinbase cares one bit where you are sending it to.
This is false. I'd recommend sending from Coinbase to a wallet, such as BitPay, and then send to your website. If your website is on Coinbase's restricted list, and you send directly from Coinbase, they can and will close your account and ban you from opening another.
Posted on 11/30/17 at 6:05 pm to Vrai
yeah, im done with that. i just wanted to try it out
i deposited $50 to coinbase, transferred it to blockchain but before i could do that, i had to pay a deposit fee, plus a coinbase fee, and i lost like $4 so i only was able to transfer about $42. finally transferred that to blockchain and sent that $42 to website but then blockchain charged me $4 to transfer that so i only deposited $37 in my account. i won my bet and cashed out at $63. sent it back to blockchain and then to coinbase but again got charged $4 plus fee from coinbase to deposit in my account.
from start finish i profited $6 fricking dollars. i think i paid around $15 in fees alone just to transfer shite around
i deposited $50 to coinbase, transferred it to blockchain but before i could do that, i had to pay a deposit fee, plus a coinbase fee, and i lost like $4 so i only was able to transfer about $42. finally transferred that to blockchain and sent that $42 to website but then blockchain charged me $4 to transfer that so i only deposited $37 in my account. i won my bet and cashed out at $63. sent it back to blockchain and then to coinbase but again got charged $4 plus fee from coinbase to deposit in my account.
from start finish i profited $6 fricking dollars. i think i paid around $15 in fees alone just to transfer shite around
Posted on 11/30/17 at 6:17 pm to SilverStallion
Well yeah fees that is why you invest a lot so it is actually worth it.
Posted on 11/30/17 at 7:36 pm to wickowick
quote:
wickowick
that's not what I meant when I said "safe", but I see your point 
Posted on 12/1/17 at 9:31 am to link
quote:It has been at its all-time high for most of this year. Would you have given the same advice when it was at $1k? $5k?
if you're buying it for the first time at it's all-time high, then i'd say no, you're probably not doing it right
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