"How to buy Bitcoin"

  • 🐕 I am attempting to get the site runnning as fast as possible. If you are experiencing slow page load times, please report it.
Gender: Xenomorph said:
Any time now?
Click to expand...

I've heard crypto is going to be in a bit of a lull over summer due to the recent heavy dip, plus the poor stock market performance and generalized global woes. Things usually take at least a few months to come back swinging after a fall this big. During this time we'll probably see it go sideways a lot with maybe a few lower lows. In all seriousness, you could always put some money (a small chunk, not all of it) into crypto right now, and then invest more later if it falls further. You want to capitalize as much as you can on lower prices. It's really a variation of dollar cost averaging that i'd recommend, except instead of fixed time intervals, i'd do something like invest another bit of money for every 10% the price drops, or something like that. But that's only if you're confident it won't continually drop to zero (which I am, as people are too greedy to miss this gravy train).
 
  • Like
Reactions: IAmNotAlpharius and Local Fed
mensch said:
I've heard crypto is going to be in a bit of a lull over summer due to the recent heavy dip, plus the poor stock market performance and generalized global woes. Things usually take at least a few months to come back swinging after a fall this big. During this time we'll probably see it go sideways a lot with maybe a few lower lows. In all seriousness, you could always put some money (a small chunk, not all of it) into crypto right now, and then invest more later if it falls further. You want to capitalize as much as you can on lower prices. It's really a variation of dollar cost averaging that i'd recommend, except instead of fixed time intervals, i'd do something like invest another bit of money for every 10% the price drops, or something like that. But that's only if you're confident it won't continually drop to zero (which I am, as people are too greedy to miss this gravy train).
Click to expand...
I agree.

However, normal markets are difficult to predict at best. BTC is REALLY hard.

Buy what you can afford to lose. But, I think we are near the bottom.
 
WebLurker said:
From my limited understanding stocks pay out dividends, that's how you make money off them.

Correct me if I'm wrong, but crypto doesn't pay out anything. The only thing you get from crypto is buying and selling at the right time to make any money from it. Otherwise you just pay for the novelty of watching a bunch of numbers go up and down.
Click to expand...
If you can be bothered to run a node I believe a lot of proof-of-stake networks pay out (ie in lieu of coinbase rewards etc) for administrative consensus mechanism participation shit, that is rubber-stamping blocks or whatever. Generally probabilistic and proportional to stake so essentially a dividend*.

There's probably other analogous mechanisms too, lots of novel incentive schemes out there. But unless you really really like reading whitepapers enough to park a million bux in a novelty coin you probably don't give a fuck. I doubt anyone actually does this as opposed to arriving at big stakes for other reasons. But it technically exists.

*(NB if you're a network participant it's basically your prerogative to engage in greedy cheese hax strategies to try and edge out bigger rewards for yourself. That's technically fundamental to trustless network design. So if you're a fully rational actor your "dividends" can be a little better, maybe.)
 
  • Thunk-Provoking
Reactions: WebLurker
ICYDK-

Tornado Cash and all associated accounts have been seized by the US gvmt.
Also, the dev team has been charged with everything that every bank has been guilty of since the birth of central banking.
 
  • Feels
Reactions: (((Obar Lazcano Kamz)))
I've been involved with cryptocurrency since long before BTC appeared, but I still feel like a fucking n00b every single time I have to deal with an onramp. I have accounts with half a dozen of them now and they still all seem to suck. Maybe someone has a more useful perspective on it.

I'm one of those whack jobs who does not hold or trade, but only uses it for shit. That's not even the worst of it - I use it for legal shit! My only goal a few days ago was to acquire $5k of BTC for reasons.

MoonPay lifetime banned me on signup for sending them a cropped ID photo. Ok. I've sent cropped photos to exchanges all over the world a dozen times before. Didn't know that was a blackball-able mortal sin now. But fine. They refused to talk to me.

Simplex and my bank couldn't get it together. I spent hours with customer service on both sides. Both kept saying "try it again, it should work this time". On the bank side, their AI (which I'm sure is completely in-house) has the final say. I don't know who the fuck Simplex is in the first place, so who knows what their problem is.

Another one, I forget which, kept saying "That type of payment isn't accepted" even though I'd just selected it from their own list, in their own UI.

Coinbase and the bank are butt buddies, and the fee is tiny, but there's that fucking 5-8 day hold where I can't use the coins. Also, they're probably butt buddies with worse people and compromised at least 3 different ways, but I was frustrated and figured I could make an exception for this purpose. Well, while I'm waiting for the bank to finish inside of Coinbase, BTC takes a dive and now I prob won't have enough to buy the thing. That's not a surprise, it's just a fucking pain in my ass.

LocalBitcoins has been good all around, but the goodness comes at the price of a 10-15% premium. For this thing I couldn't stomach it - but I'm tempted. I've already lost that much on the Coinbase block between fees and market loss.

Right now I'm waiting for yet another KYC verification - Coinmama this time. I heard they have high fees.

I can't fucking stand trading and I didn't think I was going to get pushed into it over this, but if I don't, the BTC trapped in Coinbase is liable to keep eroding before I can spend it.

So how would you savvy cypherpunks handle the situation?
 
  • Informative
  • Feels
  • Like
Reactions: Begemot, AbendCode12, No. 7 cat and 1 other person
Crunk Sneedler said:
I've been involved with cryptocurrency since long before BTC appeared, but I still feel like a fucking n00b every single time I have to deal with an onramp. I have accounts with half a dozen of them now and they still all seem to suck. Maybe someone has a more useful perspective on it.

I'm one of those whack jobs who does not hold or trade, but only uses it for shit. That's not even the worst of it - I use it for legal shit! My only goal a few days ago was to acquire $5k of BTC for reasons.

MoonPay lifetime banned me on signup for sending them a cropped ID photo. Ok. I've sent cropped photos to exchanges all over the world a dozen times before. Didn't know that was a blackball-able mortal sin now. But fine. They refused to talk to me.

Simplex and my bank couldn't get it together. I spent hours with customer service on both sides. Both kept saying "try it again, it should work this time". On the bank side, their AI (which I'm sure is completely in-house) has the final say. I don't know who the fuck Simplex is in the first place, so who knows what their problem is.

Another one, I forget which, kept saying "That type of payment isn't accepted" even though I'd just selected it from their own list, in their own UI.

Coinbase and the bank are butt buddies, and the fee is tiny, but there's that fucking 5-8 day hold where I can't use the coins. Also, they're probably butt buddies with worse people and compromised at least 3 different ways, but I was frustrated and figured I could make an exception for this purpose. Well, while I'm waiting for the bank to finish inside of Coinbase, BTC takes a dive and now I prob won't have enough to buy the thing. That's not a surprise, it's just a fucking pain in my ass.

LocalBitcoins has been good all around, but the goodness comes at the price of a 10-15% premium. For this thing I couldn't stomach it - but I'm tempted. I've already lost that much on the Coinbase block between fees and market loss.

Right now I'm waiting for yet another KYC verification - Coinmama this time. I heard they have high fees.

I can't fucking stand trading and I didn't think I was going to get pushed into it over this, but if I don't, the BTC trapped in Coinbase is liable to keep eroding before I can spend it.

So how would you savvy cypherpunks handle the situation?
Click to expand...
Have you tried KuCoin? I don't think that you need KYC to use it. How about Binance? It's a good exchange in my experience. I've only used the latter and it's as easy as can be.
 
Thanks for the suggestions. I haven't tried Binance, and I hadn't heard of KuCoin. Anyone know anything about eToro?
 
Crunk Sneedler said:
Thanks for the suggestions. I haven't tried Binance, and I hadn't heard of KuCoin. Anyone know anything about eToro?
Click to expand...

Trading212 has an easier sign up process, requiring only a passport and webcam photo. I've also found it has a wider availability of stocks. I recently bought into two penny stocks, evofem biosciences at 17 cents and FREYR at $15. I don't believe either of these were available on Etoro. Etoro seems to have better functionality though, right now I'm having trouble changing my address on trading212.
 
  • Like
Reactions: Neo-Nazi Rich Evans and Crunk Sneedler
I understand why normalfags don't wanna use crypto, just getting into my binance account to buy some bitcoinz for the shitigation fund after a period of inactivity was a gigantic pain in the asshole, if I wasn't a cryptofag already I totally would not have gone through the effort. The bankers won, they tried to get governments to just ban crypto by trying to cast anyone who has ever used crypto as a terrorist, that didn't work, probably because too many people had made money from investing in bitcoin by then, so they went the other route of just regulating it so hard that only complete weirdos would jump through all the hoops.
 
  • Like
  • Feels
Reactions: Begemot, Local Fed, AbendCode12 and 2 others
TwistedFreak said:
LocalBitcoin is shut down. What is the best way to buy some crypto right now with cash+ a wallet that doesn't require ID?
Click to expand...
Not the best since they take a hefty markup, but you could go looking around for a physical ATM that has decent limits for minimal KYC.


Particle Bored said:
I use Kucoin.
Click to expand...
KuCoin's getting kicked out of NY, ordered to pay 22 Mil & a general US shutdown to boot.

https://archive.is/doDni & https://archive.is/epUCl
 
Last edited:
  • Like
Reactions: NoReturn
Just a bit of trivia about Bitcoin that most people would never think about..

It is possible to store your Bitcoin on the blockchain at an address or addresses that are not controlled by a wallet service and only you would hold the private keys.
 
  • Informative
Reactions: NoReturn
So I want to play around with crypto, but I don't want to invest in a Cold wallet just yet (paper and scraped metal for now). So the question is this... How am I as a retard supposed to know which one is legit, not pozzed and actually safe to use?

These are the commonly "recommended" ones on the internet:
I don't want to install +10 software and end up using one that gets discontinued. Does anyone here got any insight on which ones are going to be maintained in the long run and are "safe" (doesn't do anything "suspicious" with your seed phrase and private keys).
I really don't want anything weird installed on my dedicated crypto "hot wallet" device.

Fuck I hate crypto scammers/tubers/"influencers", shitting up everything about this topic.
 
Last edited:
  • Agree
Reactions: NoReturn
I'm just looking for any option where I don't have to pay some gay crypto tax to the greedy government.

When buying from an individual, how prevalent is the risk of buying 'dirty' crypto? Like can crypto be like stolen goods, identifiable by its code or what?
 
  • Thunk-Provoking
Reactions: Blade of Grass
You must log in or register to reply here.
Back