231–240 of 242 posts
Can anyone recommend a decent exchange that supports deposits and withdrawals from a UK GBP bank account without needing to do a SEPA or SWIFT transfer? Neither Kraken nor Bitstamp do :(
I can't find one either. I've decided the best option is depositing/withdrawing using localbitcoins.com, then transferring in/out of there to your preferred platforms.
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Currently Bitcoins can be divided to 8 decimal places, and if eventually that's not enough the protocol can be upgraded.
Correct - you can increase the units in circulation without destroying the purchasing power of those who currently hold the asset, which is a huge advantage over traditional fiat currency.
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I'm sure there are some "bitcoin purists" who think someday bitcoin will be used to buy everything, but that's certainly a minority viewpoint. There's a more pragmatic way to think about it. Bitcoin can coexist just fine with national currencies, and with other cryptocurrencies, and with precious metals. Bitcoin doesn't need to "win" by replacing any of these. Bitcoin is valuable because it's a secure way to store an…
The real value is in the underlying technology of the platform, the blockchain. Instant, secure transfers of value to anyone in the world at minimal cost with a publicly auditable ledger. There are also many cool things that can be built on top of the tech, including secure online voting: https://followmyvote.com/online-voting-technology/blockchain...
We'll see whether someone will ever come up with some system satisfying them all...
Could raise even more money with zero actual equity dilution.
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At this point me and many of friends with Coinbase account came to conclusion that there is NONE. I don't believe a single person works in customer support. I also heard that it is such a big issue that some California attorney is advertising heavily in top 5 states to gather traction for a class-action lawsuit regarding this problem. Unfortunately I haven't stumbled upon his advertisement yet, but wouldn't be surpri…
According to LinkedIn, they have 7 people who work in support. At a company of ~200 people, that's not an unreasonable number to have. It feels mean to say they have none.
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> their bank transfer charges are proportional to amount transferred instead of standard flat fee. I don't think that is true. From everything I've seen they only charge a nominal fee of 15 cents to do an ACH transfer.
There is a $0.15 minimum in the US, but they will take the max of that or 1.49% (to a bank account) [1]. Different countries and output methods vary, but most are proportional to the amount transferred. [1]: https://support.coinbase.com/customer/en/portal/articles/210...
ACH deposit to USD wallet is free. Converting that USD to BTC or ETH is where the fee comes in. (Why one would want to deposit USD at Coinbase and leave it there, though, is another question...)
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Why? Currencies existed prior to governments. What prevents that from happening in the future? Beyond that, the USD is just one of many mediums of exchange. What prevents the USD from becoming the next Deutsche Mark, French franc, or Spanish peseta? While I don't believe BTC is The One, calling it "the most absurd" shows a blatant ignorance of history, and hardly supports a notion of superior intelligence.
If the USD collapses, other currencies will take its place - GBP, EUR, etc. The only reason the USD would collapse in the first place would be if the US government collapses. In that event, you're looking at apocalypse. Or at the very least, a world war. To assume that the world is as isolated as it was when the Spanish peseta collapsed as it is right now is absurd. Good luck exchanging a digital currency in the even…
Nowhere in my comment did I say that word. Why such a bleak outlook?
> To assume that the world is as isolated as it was when the Spanish peseta collapsed as it is right now is absurd.
I'm not sure which history book you're reading, but your statement has no historical basis. Isolation didn't cause the peseta to "collapse", economic cooperation caused it to MERGE into the Euro. That would seemingly display the exact opposite of "isolation", wouldn't it? I'm pretty sure Europe didn't collapse into an apocalyptic wasteland in 1999 when the Euro started as a currency. The Euro would have sounded preposterous in 1990, the year in which the reunification of Germany took place. 9 Years later the Euro started, 2 years after that Germany was the first to eliminate their own national currency as legal tender. What stops the USD from merging with the CAD and/or MXN other than a lack of imagination, or a recency bias?
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Yes, but this way you're trading an elite made of hardware specialists and people that can afford to hire hardware specialists, with an elite made of people that can afford to fill datacenters with the most specialized hardware. Mining quickly becomes a game of "who can throw the most money into the problem" and ends up skewing the pool significantly because you are rewarded with money for winning the game, which mea…
Sort of. There is a potential that if you take over the network that it all becomes worth nothing because users understand the trust problem and cash out in the lead up. Or the users elect to not use your currency, it could still hold value, as the blockchain until that point is valid, but it remains paused until the 51% is resolved. This encourages you to work covertly to organize the 51% stake and you have to hold…
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There is a $0.15 minimum in the US, but they will take the max of that or 1.49% (to a bank account) [1]. Different countries and output methods vary, but most are proportional to the amount transferred. [1]: https://support.coinbase.com/customer/en/portal/articles/210...
The fee is not on the transfer, but on the conversion. ACH deposit to USD wallet is free. Converting that USD to BTC or ETH is where the fee comes in. (Why one would want to deposit USD at Coinbase and leave it there, though, is another question...)
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I was wondering the same thing. At the volume GDAX is processing ($100M/day [0]) they should be making $100M in gross profit every year [1]. [0] https://coinmarketcap.com/exchanges/volume/24-hour/#gdax [1] $100M * 0.0025 = $250K /day, or almost $91M per year.
There is currently a 0% fee for "market making," or when you do a limit buy/sell. The 0.3% fee only applies when you make a market transaction (instantly filled) [0]. [0]: https://www.gdax.com/fees/ETH-USD
(note, large customers get a discount on the taker fee, so I went with 0.25% on average)