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One of the Biggest Bitcoin Exchanges Just Added 100,000 Users in a Single Day

bloomberg.com

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Re: One of the Biggest Bitcoin Exchanges Just Added 100,000 Users in a Single Day

#12

Post by ddavidn »

rb808 wrote: post #2

I want to make some money buying bitcoin it just keeps going up! Which is the best exchange I should use? Is Coinbase best?

Gemini is good, but please remember that the value could always go down sharply. It is not usually best to buy at the peak of the chart. (opinion, not financial advice)

Re: One of the Biggest Bitcoin Exchanges Just Added 100,000 Users in a Single Day

#15

Post by synaesthesisx »

seanalltogether wrote: post #6

I'd be curious to know at this point what amount of bitcoin transactions are actually retail focused. There was a big push a couple years back by users wanting to make actual purchases with bitcoin and helping to build the infrastructure around that. Does this retail side of bitcoin still exist, or is everyone just mining and selling -> buying and holding?

Why would I want to make actual purchases when it's rallying like this? You'd almost always be better off holding instead...

Re: One of the Biggest Bitcoin Exchanges Just Added 100,000 Users in a Single Day

#16

Post by apthnz »

seanalltogether wrote: post #6

I'd be curious to know at this point what amount of bitcoin transactions are actually retail focused. There was a big push a couple years back by users wanting to make actual purchases with bitcoin and helping to build the infrastructure around that. Does this retail side of bitcoin still exist, or is everyone just mining and selling -> buying and holding?

As far as I know, most Bitcoin transactions take ~10mins to get confirmed, so I'm not sure the current infrastructure would work for retail.

Admittedly I don't know what would need to be changed to speed up transaction confirmations to the point where you could use it in retail situations.

Re: One of the Biggest Bitcoin Exchanges Just Added 100,000 Users in a Single Day

#19

Post by seanalltogether »

apthnz wrote: post #16
seanalltogether wrote: post #6

I'd be curious to know at this point what amount of bitcoin transactions are actually retail focused. There was a big push a couple years back by users wanting to make actual purchases with bitcoin and helping to build the infrastructure around that. Does this retail side of bitcoin still exist, or is everyone just mining and selling -> buying and holding?

As far as I know, most Bitcoin transactions take ~10mins to get confirmed, so I'm not sure the current infrastructure would work for retail. Admittedly I don't know what would need to be changed to speed up transaction confirmations to the point where you could use it in retail situations.

When I say retail I mean things like buying steam games or buying web hosting, not actual brick and morter store purchases.

Re: One of the Biggest Bitcoin Exchanges Just Added 100,000 Users in a Single Day

#20

Post by stefano »

synaesthesisx wrote: post #15
seanalltogether wrote: post #6

I'd be curious to know at this point what amount of bitcoin transactions are actually retail focused. There was a big push a couple years back by users wanting to make actual purchases with bitcoin and helping to build the infrastructure around that. Does this retail side of bitcoin still exist, or is everyone just mining and selling -> buying and holding?

Why would I want to make actual purchases when it's rallying like this? You'd almost always be better off holding instead...

So everyone is holding and buying it, and no one is making anything useful with it. Sounds like a great allocation of capital! /s
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