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re: Official CryptoTalk Thread
Posted on 5/25/17 at 10:22 am to SlowFlowPro
Posted on 5/25/17 at 10:22 am to SlowFlowPro
I tried for like 3 hours to link every debit/credit card I have (only 2, to be fair) and they wouldn't go through that day Coinbase was having all those errors.
Linked up an affiliated checking account (USAA) that I never use for anything and keep like no money in and BAM - went through instantly.
Coinbase is gonna have to get it's shite together once crypto becomes a fad and every tom, dick, and harry starts signing up to to get their Insta-Lambos.
Linked up an affiliated checking account (USAA) that I never use for anything and keep like no money in and BAM - went through instantly.
Coinbase is gonna have to get it's shite together once crypto becomes a fad and every tom, dick, and harry starts signing up to to get their Insta-Lambos.
1
Posted on 5/25/17 at 10:25 am to tigrbabe08
yeah CB obviously was not prepared for the volume this week. i've NEVER had issues like i've had this week. i can't even login about 25% of the time
Posted on 5/25/17 at 10:30 am to SlowFlowPro
When I want to sell on coinbase, how do I do it? I thought it was supposed to be simple, but now people are talking about transfering to polo and shite 
Posted on 5/25/17 at 10:35 am to SlowFlowPro
quote:
i can't even login about 25% of the time
I get an error message every time for about a week now when I first click on the app and then after a lil while it will load up.
Posted on 5/25/17 at 10:37 am to lsupride87
just from a conceptual level, CB creates wallets for you to use your currencies. i have a ETH wallet, a BTC wallet, a USD wallet, and a LTC wallet (that i don't use). CB is nothing more than a means to have wallets that are provided, regulated, and protected by CB (b/c it essentially is a US bank). CB also acts as a facilitator for trades of currencies
think about your wallets like accounts in a bank. when i signed up for CB, it automatically created these accounts and these accounts are where i store my currencies.
you can use all sorts of other programs/methods to create wallets that aren't regulated/protected by CB. so Polo will also set up wallets for you to use, for example. you can also use other programs that do this and they will all interact with each other.
i only use my wallets on CB so when i "sell", i just trade my ETH/BTC for USD, so then my USD wallet on CB becomes populated with money. if you have no money in wallets, when you "buy" a currency, you use a linked account (credit or debit card) to trade USD from these accounts for the currency, and the currency goes to its respective wallet
i don't use polo, but i believe you just transfer the currency to the wallets on polo (or vice versa) to have access to that market. you don't have to use polo or CB and you can do direct transfers with anyone with a wallet, but CB/POlo act as transfer modules/markets that facilitate these transactions for you (they find the buyers/sellers and distribute the currencies appropriately)
think about your wallets like accounts in a bank. when i signed up for CB, it automatically created these accounts and these accounts are where i store my currencies.
you can use all sorts of other programs/methods to create wallets that aren't regulated/protected by CB. so Polo will also set up wallets for you to use, for example. you can also use other programs that do this and they will all interact with each other.
i only use my wallets on CB so when i "sell", i just trade my ETH/BTC for USD, so then my USD wallet on CB becomes populated with money. if you have no money in wallets, when you "buy" a currency, you use a linked account (credit or debit card) to trade USD from these accounts for the currency, and the currency goes to its respective wallet
i don't use polo, but i believe you just transfer the currency to the wallets on polo (or vice versa) to have access to that market. you don't have to use polo or CB and you can do direct transfers with anyone with a wallet, but CB/POlo act as transfer modules/markets that facilitate these transactions for you (they find the buyers/sellers and distribute the currencies appropriately)
Posted on 5/25/17 at 10:41 am to SlowFlowPro
I can't recommend enough you guys buying something like a Nano Ledger and transferring your ETH to something you can tangibly hold.
Posted on 5/25/17 at 10:42 am to Carson123987
Nevermind now I see you answered
This post was edited on 5/25/17 at 10:44 am
Posted on 5/25/17 at 10:44 am to lsupride87
From what I've gathered, most people are transferring to Polo or Bittrex to buy coins that you can't get on Coinbase. Mainly whatever pump and dump scam-coin is hot at the moment (dogecoin, musiccoin, mooncoin etc.)
From what I understand going ETH to USD or BTC to USD on Coinbase is as simple as putting in a sell order.
From what I understand going ETH to USD or BTC to USD on Coinbase is as simple as putting in a sell order.
This post was edited on 5/25/17 at 10:48 am
Posted on 5/25/17 at 10:46 am to okietiger
quote:
I can't recommend enough you guys buying something like a Nano Ledger and transferring your ETH to something you can tangibly hold.
CB is secure/insured, so i haven't taken this step yet
if i go to things like Polo or other markets, i will
Posted on 5/25/17 at 10:46 am to tigrbabe08
quote:
From what I've gathered, most people are transferring to Polo or Bittrex to buy coins that you can't get on Coinbase. Mainly whatever pump and dumb scam-coin is hot at the moment (dogecoin, musiccoin, mooncoin etc.)
From what I understand going ETH to USD or BTC to USD on Coinbase is as simple as putting in a sell order.
yes
Posted on 5/25/17 at 10:47 am to SlowFlowPro
quote:
CB (b/c it essentially is a US bank)
Ehhh. Not really. It's licensed as a money transmission bureau with FinCEN, but any USD held there won't be FDIC insured.
I'm also hearing talk about the SEC sniffing around the initial coin offerings. I think regulators are going to eventually be able to hang their hats on those.
Posted on 5/25/17 at 10:48 am to tigrbabe08
quote:
dogecoin
Posted on 5/25/17 at 10:48 am to tigrbabe08
I've debated uploading maybe 2-3 ETH to Bittrex and transferring to GNT...just really don't want to lose any ETH at all tho lol.
Probably should just sign up fo Polo, buy more ETH, and trade that amount to GNT.
Probably should just sign up fo Polo, buy more ETH, and trade that amount to GNT.
Posted on 5/25/17 at 10:50 am to Mo Jeaux
So you're saying coinbase is lying to everyone on thier support page?
Posted on 5/25/17 at 10:52 am to okietiger
I can't buy anything on coinbase so maybe that's a sign to me.
Oh well.
Oh well.
Posted on 5/25/17 at 10:53 am to southernelite
Anyone using brave browser to support crypto? Seems if you use the browser you get paid in crypto?
LINK
LINK
Posted on 5/25/17 at 10:54 am to Mo Jeaux
quote:
but any USD held there won't be FDIC insured.
that's not what is says on the coinbase website. I specifically states that USD is FDIC insured.
Posted on 5/25/17 at 10:55 am to okietiger
quote:
I can't recommend enough you guys buying something like a Nano Ledger and transferring your ETH to something you can tangibly hold.
Am I correct in thinking that holding your coins on a Nano Ledger rather than Coinbase would be an effective way to skirt taxes?
Asking for a friend.
Posted on 5/25/17 at 11:00 am to iAmBatman
quote:
that's not what is says on the coinbase website. I specifically states that USD is FDIC insured.
You're right. It does. Sorry. Although it's because those funds are held, supposedly, in segregated accounts at custodian banks. That doesn't mean that Coinbase is a bank.
I'd be interested to read the account opening docs to see what they say.
Posted on 5/25/17 at 11:05 am to Mo Jeaux
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