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Bitcoin ‘More Than Just a Fad,’ Morgan Stanley CEO Says

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Re: Bitcoin ‘More Than Just a Fad,’ Morgan Stanley CEO Says

#91

Post by jack9 »

d0lph wrote: post #78
lotyrin wrote: post #61

Earlier quoted context omitted.

Most of its value is speculative and if you buy you have to hope there's a bigger sucker somewhere in the future in order to get your payout, that's not exactly Ponzi-shaped, but I can definitely see why people might consider it a decentralized form of the pattern.

According to your interpretation, wouldn't gold also qualify as a decentralized ponzi scheme? You're just hoping some bigger sucker buys your over inflated metal right?

People actually use gold, as it's optimal (or solely suited) for a number of electric and chemical tasks. Also, it's pretty and used as a status symbol. It has utility, which has been overblown in the market for a long time (like diamonds).

Re: Bitcoin ‘More Than Just a Fad,’ Morgan Stanley CEO Says

#92

Post by virtuexru »

chrisco255 wrote: post #83
orbitur wrote: post #81

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 is solid. They have ACH setup for hooking up to your checking account and their security is solid.

I second this; have been using Coinbase for a few years with no problems.

Re: Bitcoin ‘More Than Just a Fad,’ Morgan Stanley CEO Says

#93

Post by ojr »

oculusthrift wrote: post #19
rb808 wrote: post #10

> "The concept of anonymous currency is a very interesting concept -- interesting for the privacy protections it gives people, interesting because what it says to the central banking system about controlling that." I don't think he means bitcoin in particular, it could be any crypto currency. Bitcoin is still a ponzi scheme in bubble phase.

hey that's not fair... it's a pyramid scheme, not a ponzi

what do you think of US stocks, is it a scam? Global exhchanges have disadvantages and advantages over regional exchanges

Re: Bitcoin ‘More Than Just a Fad,’ Morgan Stanley CEO Says

#94

Post by Shelnutt2 »

Klathmon wrote: post #85
orbitur wrote: post #81

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.

I'll second coinbase. 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…

Just want to point out, the fees are significantly less if you use GDAX to purchase bitcoins. You can move bitcoins from gdax to coinbase wallet or to your own personal wallet.

In coinbase there is a flat fee, in GDAX you only pay fees if you put a bid in, and there is no existing sell order on the books that would fill you bid. The reverse is also in effect, if you put a sell order in, and no existing buy orders meet your order, there is no fee when the transaction takes place.

GDAX is an exchange. Make sure you are comfortable with using an exchange. I'd recommend you always use a limit order if you are just starting out.

Re: Bitcoin ‘More Than Just a Fad,’ Morgan Stanley CEO Says

#95

Post by deadmetheny »

adamnemecek wrote: post #82
deadmetheny wrote: post #67

Earlier quoted context omitted.

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.

Sure but it’s also naive to think that banks aren’t trying to fuck you over.

Oh, absolutely they are. This is not to be construed as any sort of ringing endorsement of the banking system - I just don't think that rebuilding digital Beanie Babies from first principles and wasted electricity is a good solution to the problem.

Re: Bitcoin ‘More Than Just a Fad,’ Morgan Stanley CEO Says

#96

Post by Klathmon »

Shelnutt2 wrote: post #94
Klathmon wrote: post #85

Earlier quoted context omitted.

I'll second coinbase. 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…

Just want to point out, the fees are significantly less if you use GDAX to purchase bitcoins. You can move bitcoins from gdax to coinbase wallet or to your own personal wallet. In coinbase there is a flat fee, in GDAX you only pay fees if you put a bid in, and there is no existing sell order on the books that would fill you bid. The reverse is also in effect, if you put a sell order in, and no existing buy orders mee…

Yes, but it is much more intimidating working in GDAX. Not to mention that you need to find your account with USD before you can buy anything.

In coinbase you can make a purchase instantly and lock in at a specific price that instant (even if the transfer takes a week to really go through).

In my one case, I bought some at $2700, it took a week to post and actually give me my Bitcoin, but I got it at $2700 even when the price was at $3000 by then (the gains far outweighing the fee of a few percent). But in GDAX I need to fund my USD account which took a week before I can buy.

Yes the fees are less, but if you are looking for simple, spending $5-10 in fees won't hurt for a much easier and more straightforward experience. But GDAX is also fantastic if you are comfortable with it.

Re: Bitcoin ‘More Than Just a Fad,’ Morgan Stanley CEO Says

#97

Post by relyio »

orbitur wrote: post #81

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.

0. Purchase a hardware wallet

Pro-tip: Go for a Ledger Nano S (https://www.ledgerwallet.com/products/12-ledger-nano-s), it is (IMO) the best hardware wallet available. Had a terrific experience using it, it is a genuinely great product.

1. Pick a high-profile exchange

Pro-tip: I had an absolutely terrible experience with Coinbase. And a far better one with GEMINI (Although I have issues that are +30 days old still open with their customer support. I'm pretty disappointed).

2. Get your account verified (KYC)

Pro-tip: If you are concerned about your privacy, you can always buy bitcoin for cash on localbitcoins. They have an escrow system.

3. Purchase cryptocurrency of your choosing.

Pro-tip: look at historical charts (both Linear/Log scales) and do your best to "time" your order, of course it is hard.

4. Move back funds to your hardware wallet.

Pro-tip: Whatever HW wallet you choose, do not leave your funds on the exchange. Just don't do it, accounts get hacked all the time (even with 2FA), exchanges get hacked all the time, remember MtGox and learn from others' mistakes.

Re: Bitcoin ‘More Than Just a Fad,’ Morgan Stanley CEO Says

#98

Post by takeda »

mburst wrote: post #49
ghostbrainalpha wrote: post #21

Earlier quoted context omitted.

I don't think you need the "...", usually that indicates a mysterious step will never actually materialize. But the Profit cycle is fully complete here.

http://knowyourmeme.com/memes/profit?full=1

This is not reddit, not everything has to be a meme.

Re: Bitcoin ‘More Than Just a Fad,’ Morgan Stanley CEO Says

#99

Post by bayofpigs »

chrisco255 wrote: post #83
orbitur wrote: post #81

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 is solid. They have ACH setup for hooking up to your checking account and their security is solid.

Some only use exchanges like Coinbase to transfer money into and out of your wallet. Leaving your coins on Coinbase is considered risky since it could be hacked and your coins stolen.

Using physical digital wallets is more secure, but they can be lost or damaged it so it's choice you have to make. Here's the best one that I've seen (no affiliation): https://www.buybitcoinworldwide.com/wallets/ledger-nano-s/

Re: Bitcoin ‘More Than Just a Fad,’ Morgan Stanley CEO Says

#100

Post by dogruck »

andruby wrote: post #88
dogruck wrote: post #5

Key quote from Gorman in the article: "I haven't invested in it."

Well, he would sound like he's pushing an agenda if he says "I have invested in it".

Are you saying that you think Gorman has actually invested in Bitcoin, but he lied because he didn't want to make it seem like he was touting his book?
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