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What is the most legit and safe method for creating a wallet and just buying a bit of Bitcoin? I wouldn't mind being able to drop a couple hundred on it and seeing where it goes, but it's hard to trust websites/subreddits that look like posts were written by nerdy 15 year olds.
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...and replacing them with cryptocurrency CEOs and HN and Reddit commenters whose economic experience is limited to googling the word “fiat” and talking points on free markets? Is that what you mean? Occasionally people are listened to because they have something to offer, like, say, running one of the world’s largest investment banks. His remarks immediately made Bloomberg, CNBC, and so on, which is just free PR. Fr…
Shh, half the fun of cryptocurrency threads is watching its proponents re-learn every single harsh lesson banking and financial industries have learned over the past couple hundred years! It turns out a lot of regulations and whatnot involved with Fiat™ don't just exist for arbitrary reasons.
This seems like a decent place to ask: What is the most legit and safe method for creating a wallet and just buying a bit of Bitcoin? I wouldn't mind being able to drop a couple hundred on it and seeing where it goes, but it's hard to trust websites/subreddits that look like posts were written by nerdy 15 year olds.
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> I think that it will go to like 20k in the next 4 years Why like 20k (as opposed to like 100k or like 1k)?
99% of Bitcoins are being held by people expecting to sell it to someone else for more than they bought it for. That doesn't seem to be changing. You just have to do a calculation involving the number of people on the planet to figure out when the supply of new suckers runs dry and the price crashes.
This seems like a decent place to ask: What is the most legit and safe method for creating a wallet and just buying a bit of Bitcoin? I wouldn't mind being able to drop a couple hundred on it and seeing where it goes, but it's hard to trust websites/subreddits that look like posts were written by nerdy 15 year olds.
They are one of the few reputable companies in the space. They follow all the laws, have a great looking site, have an exchange called GDAX under the same system if you want to try trading at some point, and they are pretty secure. Not to mention that any USD in your account is FDIC insured, and any Bitcoin is insured privately in case of a breach of their systems.
You will need to provide your id and it may take a week or more to get verified, and the fees are higher than alternatives, but honestly it's not that big of a deal, and it just reaffirms that they are trying to build a sustainable business and aren't going to close up shop tomorrow.
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> bitcoins have no real world application or substance outside of financial crime https://www.coindesk.com/information/what-can-you-buy-with-b...
Your product simply isn't valuable if the world wouldn't miss it if it disappeared over night. Outside of keeping money away from legislation what value does crypto currencies have that would be missed?
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99% of Bitcoins are being held by people expecting to sell it to someone else for more than they bought it for. That doesn't seem to be changing. You just have to do a calculation involving the number of people on the planet to figure out when the supply of new suckers runs dry and the price crashes.
Doesn't that assume every person on the planet will own some BTC before it crashes? It also assumes the rate new people start buying BTC is constant, or even predictable.
Key quote from Gorman in the article: "I haven't invested in it."
This seems like a decent place to ask: What is the most legit and safe method for creating a wallet and just buying a bit of Bitcoin? I wouldn't mind being able to drop a couple hundred on it and seeing where it goes, but it's hard to trust websites/subreddits that look like posts were written by nerdy 15 year olds.
Coinbase has zero customer support.
Edit: Apparently they have a call center now, but my previous experience with the company has left me with no desire to go back to them.
This seems like a decent place to ask: What is the most legit and safe method for creating a wallet and just buying a bit of Bitcoin? I wouldn't mind being able to drop a couple hundred on it and seeing where it goes, but it's hard to trust websites/subreddits that look like posts were written by nerdy 15 year olds.
Just get an account on Kraken, Coinbase, Gemini or wherever and look that you don't keep your coins on the exchange for too long. Start with small amounts. And those nerdy forums and subs (I think you mean Bitcointalk and Ethtrader on Reddit) are actually good places to get started/informed.