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Adar posted:if you just pick a random time and an exchange and dump 1.8 million dollars onto it, yeah you'll tank the price significantly. you would also tank the price of IBM, wheat, and the USD/EUR ratio doing the same thing, but that doesn't happen because people trading those things aren't usually retarded (it does happen to crypto anywhere from a few to a lot of times a year though) wellactually no, and there's a good reason it wouldn't: those have anything resembling trading volume. No crypto, including Bitcoin, does. Also, the way the crypto "price" is set up is as a weighted average of exchange prices. Sooooo you have to worry not about the thin books across all exchanges, but the thin book on each exchange. It's like an arrangement built to exacerbate volatility.
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Nov 20, 2017 10:56
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QuarkJets posted:Really? Search results seem to show that you've only talked about it twice, and in both cases you're just mentioning that Coinbase is bitlicensed, not really what the bitlicense entails:
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Nov 20, 2017 13:08
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divabot posted:wellactually no, and there's a good reason it wouldn't: those have anything resembling trading volume. No crypto, including Bitcoin, does. selling 200 bitcoin would actually not take that long and would not move the price that much as long as you didn't market sell all at one time. and actually i have seen bids bigger than 200 BTC
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Nov 20, 2017 13:18
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Return Of JimmyJars posted:
I mentioned this earlier: the fact that there's enough volume to sell the BTC for USD doesn't mean you have the USD on your bank account yet. It still sits as a virtual number on Coinbase. How easy is it to actually withdraw your USD from Coinbase?
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Nov 20, 2017 13:53
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amotea posted:I mentioned this earlier: the fact that there's enough volume to sell the BTC for USD doesn't mean you have the USD on your bank account yet. It still sits as a virtual number on Coinbase. withdrawing $1.8 million will take six months at that daily limit so you'd need to qualify as an institution or ask them to increase the limit they put USD balances in segregated custodial bank accounts at an FDIC insured institution so at least some of it would be safe in the meantime. not sure if they have multiple banks they use... if it's just one then only $250k will be insured by FDIC. anyway that might be a reason to only cash out in lots, $250k at a time edit: actually the best thing to do is to cash out on gemini, they have no limits for wire transfers in or out, according to their website https://gemini24.zendesk.com/hc/en-us/articles/209113906-What-are-the-transfer-limits- Uranium 235 fucked around with this message at 14:07 on Nov 20, 2017 |
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Nov 20, 2017 14:00
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Hmm yes.quote:I withdrew from my euro wallet to my bank account which was already verified, 17 days have passed and the money just vanished, no money on my eur wallet nor on my bank account. Support is non existent. Can I sue these guys? It's called theft after all. quote:I am waiting for 23 days now. Contacted them through Reddit, Mail, Support portal and got one generic answer. Then I lost my nerve and raised a complaint with BBB and CFBP. Yesterday they responded me through BBB that they acknowledge my problem and will try to solve it, which I rejected and demanded the immediate solution. That is all I know and what I did. quote:It says pending and says that the withdrawal was supposed to occur in the 5th of august... I have done nothing wrong. I deposited 5 euros from my bank account tl verify it, I have verified every single thing they want etc. Still no reply from the support. quote:This is bullshit from their part. I did a second Withdrawal, using the same Coinbase EUR wallet and same Bank Account but only 1EUR. Surprise surprise, I got the 0.85 EUR (they kept 0.15 as fee) in my Bank account the next day... Looks like they keep into Pending only large amounts, not small ones quote:With the increased business Coinbase is seeing their payments department is severely bogged down. They issue a broad 3-5 business day return but almost everyone waits longer than this. I am still in the process of trying to receive my funds back and these are the steps I've taken: 1) File a complaint with Coinbase (Immediately) https://support.coinbase.com/customer/portal/emails/new 2) File Complaint with CFPB (Consumer Financial Protection Bureau) (Wait 3-5 days from CB complaint..or not) CFPB P.O. Box 4503 Iowa City, Iowa 52244 Fax (855) 237-2392 (855) 411-CFPB (2372) http://www.consumerfinance.gov/complaint/ 3) File Complaint with BBB (Wait 3-5 days from CB complaint..or not) https://www.bbb.org/consumer-complaints/file-a-complaint/get-started Other Resources: Coinbase Support Number - (888) 908–7930 They will not help with wire transfers just simply tell you it is "processing" by and large a waste of time Metropolitan Bank - (212)-365-6700 99 Park Avenue New York, NY Coinbase's Bank Info You'll Need -Sender -Sender Bank -IMAD number (Can retrieve from your bank or Metro number above) -Amount -Date Sent This can be very frustrating especially seeing the BTC price rise and watch unrealized gains flying out the window as your money sits in cyberspace. Hope this helps people in the same situation. quote:I can't be the only person who's getting the silent treatment from Coinbase with a greyed out sell button, can I? https://www.reddit.com/r/CoinBase/comments/6uo7o9/withdraw_taking_too_long/ https://www.reddit.com/r/CoinBase/comments/6nvjcd/for_those_of_you_in_line_to_get_support_if_its/
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Nov 20, 2017 14:10
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amotea posted:Hmm yes. this is actually good for bitcoin,
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Nov 20, 2017 14:29
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amotea posted:I mentioned this earlier: the fact that there's enough volume to sell the BTC for USD doesn't mean you have the USD on your bank account yet. It still sits as a virtual number on Coinbase. It's extremely easy...
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Nov 20, 2017 14:57
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amotea posted:So what did I pay over $5K for? Some numbers on a screen? Yes, yes you did. quote:it's easy to withdraw USD up to the daily limit, which is $10k for individuals and $50k for institutions. you can request a higher limit if you contact them but i'm not sure how easy that is to get I get that if you started with $6k and suddenly have this much money, it's worth the hassle, but can you even imagine a bank surviving that only let you withdraw $10k a day? Bitcoin is so stupid.
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Nov 20, 2017 16:10
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Minimalist Program posted:Yeah it was a good time. You seem like a normal dude so let me ask you: What website did you withdrawal your cash from and how long did it take? Everyone else is basically saying, "It's easy to cash out!" or "No it's not!"
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Nov 20, 2017 16:33
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I like how people are still claiming Bitcoin is the perfect store of value, when there are massive barriers to cashing out when you want it, and it is entirely possible that if the Chinese miners suddenly grind to a halt then your wallet is worth exactly zero. I thought that was one of the exact fears that drove preppers away from dollars.Powershift posted:Most of them just stall until they're completely broke. I day traded Bitcoin a couple times and made a few bucks off market swings. I Bitcoined correctly. If you are up on Bitcoin it is probably time to sell. Even the most reliable sources I used to have in the market are turning to conspiracy mode lately, saying that Bitcoin is under attack by insidious forces and things well get better as soon as the bad men go away. If only this market was regulated so as to keep those nefarious types in check! 
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Nov 20, 2017 16:50
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How insanely dumb do you have to be as a doomsday prepper to invest in Bitcoin for that purpose. It's usefulness depends upon infrastructure and a doomsday scenario precludes access to a decent infrastructure
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Nov 20, 2017 18:18
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Goodpancakes posted:How insanely dumb do you have to be as a doomsday prepper to invest in Bitcoin for that purpose. It's usefulness depends upon infrastructure and a doomsday scenario precludes access to a decent infrastructure Right, you want to be in an area with lots of fresh, clean water and low crime.
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Nov 20, 2017 18:20
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Goodpancakes posted:How insanely dumb do you have to be as a doomsday prepper to invest in Bitcoin for that purpose. It's usefulness depends upon infrastructure and a doomsday scenario precludes access to a decent infrastructure If your Doomsday scenario is that the US us going to fall out of power in favor of Russia and China where all the miners live, it could work. Not that this would actually happen, but it makes sense at least as far as writing a near-future thriller novel. Which is how most preppers view reality.
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Nov 20, 2017 18:30
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amotea posted:Hmm yes. These are either just statist shills astroturfing against bitcoin or isolated cases which clearly won’t happen to you, were you smart enough to join bitscoin revolution
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Nov 20, 2017 22:36
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amotea posted:
It's almost like they are paying people who cash out with the cash from new purchases, and sometimes that doesn't line up quite well enough.
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Nov 20, 2017 22:37
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If you think about it for 5 minutes, it’s obvious once Bitcoin reaches the top, it can only go one way, and that’s up, Up, UP!
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Nov 20, 2017 23:10
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Inept posted:Yes, yes you did. edit: hmm actually that doesn't make sense, if you can withdraw $10k then obviously they aren't worried about that
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Nov 21, 2017 00:02
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Uranium 235 posted:it could have something to do with the Bank Secrecy Act since $10,000 is the threshold that banks are required to check ID and generate a report. coinbase isn't a bank but they still have to comply with anti-money laundering laws. Uhh pretty sure withdrawing 9,999k a day for 6 months is “structuring” and specifically defined as illegal
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Nov 21, 2017 00:54
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Uranium 235 posted:it could have something to do with the Bank Secrecy Act since $10,000 is the threshold that banks are required to check ID and generate a report. coinbase isn't a bank but they still have to comply with anti-money laundering laws. Also if you take more than $10k in a way deliberately designed to avoid those reports, that's called structuring and is also illegal.
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Nov 21, 2017 00:55
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CassandraZara posted:Also if you take more than $10k in a way deliberately designed to avoid those reports, that's called structuring and is also illegal. Poker sites like to send exactly $9500 out max for withdrawals sometimes, but I've always just declared all the income and never had a problem. I assume if you are being transparent about it and not doing it to hide income they probably don't come after you? I dunno though
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Nov 21, 2017 00:58
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Stefan Prodan posted:Poker sites like to send exactly $9500 out max for withdrawals sometimes, but I've always just declared all the income and never had a problem. I assume if you are being transparent about it and not doing it to hide income they probably don't come after you? I dunno though If the poker site has that as it's limit then there's nothing you can do about it, would be my argument. If they're willing to do business in the United States then they're already playing fast and loose with the law.
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Nov 21, 2017 01:10
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Comfy Fleece Sweater posted:Uhh pretty sure withdrawing 9,999k a day for 6 months is “structuring” and specifically defined as illegal
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Nov 21, 2017 01:11
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Uranium 235 posted:i have quoted from it three times in this thread iirc so your search has missed some posts Instead of just saying "what I'm talking about totally exists" could you please suggest modifications to my search criteria?
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Nov 21, 2017 04:17
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amotea posted:
Lmbo at appealing to authorities and regulations Super lmbo at someone thinking the bbb is the slightest bit official Holy loving lmbo 
Sentient Data fucked around with this message at 04:28 on Nov 21, 2017 |
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Nov 21, 2017 04:20
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lol you guys are going to love this https://twitter.com/Bitfinexed/status/932812950255165441
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Nov 21, 2017 04:41
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FUD now is the time to buy
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Nov 21, 2017 04:43
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I wonder what the odds are that they just straight up didn't have that $31 million worth of tether in cash, so someone "hacked" them and now it's all back to normal don't worry about it.
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Nov 21, 2017 04:54
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I guess you can say Bitfinex is untethered 
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Nov 21, 2017 04:56
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Uranium 235 posted:lol you guys are going to love this We got hacked but don't worry we just won't redeem any of those tethers* * or any tethers at all, per our legal page e: also lol Bitfinex suspended USDT withdrawals a couple of days ago, so presumably the hack has been known about for some time but they just got around to notifying everyone else with what amounts to a blog post lol QuarkJets fucked around with this message at 05:24 on Nov 21, 2017 |
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Nov 21, 2017 05:21
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QuarkJets posted:We got hacked but don't worry we just won't redeem any of those tethers* It happened on the 19th http://omniexplorer.info/lookupadd.aspx?address=16tg2RJuEPtZooy18Wxn2me2RhUdC94N7r Suspending USDT withdrawals is a whole different bag of snakes.
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Nov 21, 2017 05:40
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What a lucky coincidence!
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Nov 21, 2017 06:16
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BUT GUYS THESE CURRENCIES ARE TOTALLY LEGIT NO WORRIES
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Nov 21, 2017 06:31
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Bitcoiners natural state is to be owned and nature is making sure that continues
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Nov 21, 2017 06:57
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the price is back up they don't understand what's happening and don't care. the bitcoin cannot be stopped
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Nov 21, 2017 11:55
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Ham Sandwiches posted:No poo poo, it turns out that the "exchanges gonna rip you off and keep getting hacked" people are 100% dumb and making ridiculous arguments, just as I have been pointing out for months!
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Nov 21, 2017 13:31
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temple posted:the price is back up they don't understand what's happening and don't care. the bitcoin cannot be stopped tether was never a reason for the price to fall in the first place; if tethers are actually worthless (they are) then that would drive the price of bitcoin up, not down the music will stop eventually but until then there's no reason for Bitfinex to stop pumping the price with fake money
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Nov 21, 2017 13:41
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quote:How My $10,000 Gift Was Stolen From a Preschool’s Coinbase Account More funny poo poo here: https://www.bbb.org/greater-san-fra...ewtype=negative
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Nov 21, 2017 13:43
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sounds like someone at the preschool is doing a bunch of cocaine bitcoin and coinbase did this
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Nov 21, 2017 14:34
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amotea posted:That email must be opened on the same device as that on which the browser is accessing Coinbase. Yeah there's no way to actually make sure an email is being opened on the same computer as the browser. edit: also the scammer could just have the verification email forwarded to them if it's something dumb like a long code you have to copy and paste Inept fucked around with this message at 15:03 on Nov 21, 2017 |
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Nov 21, 2017 14:40
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