Bitcoin currency of the future?

[Der Eisbär]

Yeah it is funny that someone who has never invested in their life or studied business is lecturing you about the economics of supply and demand. Reminds me of people who invested in stocks during the 1920s or the Dotcom bubble.

My original major was in econ before I switched to political science, so whatever guy. I'm also not lecturing anything about anything, we're debating/discussing.

 

[Tamriel Terror]

So I'm about to start buying multiple types of alt coins after doing some research on them. What exchange should I use? I'm thinking between Kraken and Binance.

 

[Der Eisbär]

So I'm about to start buying multiple types of alt coins after doing some research on them. What exchange should I use? I'm thinking between Kraken and Binance.

I've had 0 issues with binance other than you can only buy with ether or bitcoin. Make sure to set up wallets for your alt coins on your laptop so if you're holding long term you can put them in there instead of holding on binance wallet.

 

[Tamriel Terror]

I've had 0 issues with binance other than you can only buy with ether or bitcoin. Make sure to set up wallets for your alt coins on your laptop so if you're holding long term you can put them in there instead of holding on binance wallet.

I want to be safe, so my Trezor hardware wallet is coming today. Will that be fine to use for transferring the alt coins after I buy them?

Edit: Damn Binance is complicated af.

 

[Der Eisbär]

I want to be safe, so my Trezor hardware wallet is coming today. Will that be fine to use for transferring the alt coins after I buy them?

Trezor is great.
Here is an index of all the wallets supported by trezor
https://doc.satoshilabs.com/trezor-apps/index.html
Guess you'll have to look into each of those wallets and find ones that support your alt coins.

 

[ChucksGlassJaw]

No, it's not speculative. 260,000 retailers use that PoS system. That same PoS will be updated to accept bitcoin, meaning those existing users will now accept bitcoin.

Do you understand the volatility of POS systems and how often they change? Does that POS currently accept Bitcoin? If so, link?

 

[Der Eisbär]

Do you understand the volatility of POS systems and how often they change? Does that POS currently accept Bitcoin? If so, link?

that PoS system is currently working on implementing bitcoin. I already provided the link. Soon, 260,000 MORE retailers in japan will be accepting it.

 

[ChucksGlassJaw]

that PoS system is currently working on implementing bitcoin. I already provided the link. Soon, 260,000 MORE retailers in japan will be accepting it.

"Soon."

So now you're saying it's a currency and not a commodity? I'm just trying to keep this straight.

 

[Der Eisbär]

"Soon."

So now you're saying it's a currency and not a commodity? I'm just trying to keep this straight.

It's a commodity that can be used as currency, just like gold. This isn't hard dude.

 

[mime]

So I'm about to start buying multiple types of alt coins after doing some research on them. What exchange should I use? I'm thinking between Kraken and Binance.

first find which exchanges have the coins you want, then from that list read all of the withdrawal restrictions and research online, it can even vary from state to state in the US or country to country. the best exchange for you will depend on where you live. check other specific alt coin forums and sub reddits for better advice on which ones are good.

also never keep it in an exchange too long, as soon as it goes through be ready to withdraw the funds. they can change their withdrawal policies from time to time. also there is always the chance an exchange gets hacked or even exit scams. no one i know has ever had a problem but they've all used exchanges only when needed and withdrawn right away as a precaution.

 

[ChucksGlassJaw]

It's a commodity that can be used as currency, just like gold. This isn't hard dude.

Gold is tangible. That's why it's a commodity.

 

[ChucksGlassJaw]

Do you understand why physical gold has actual value? Do you understand why it's an actual commodity?

 

[Der Eisbär]

Gold is tangible. That's why it's a commodity.

https://www.bloomberg.com/news/arti...ay-to-massive-change-for-commodity-businesses
Bitcoin Points Way to ‘Massive Change’ for Commodity Businesses

https://www.coindesk.com/bitcoin-as-a-commodity-what-the-cftcs-ruling-means/

Last Thursday the United States Commodities Futures Trading Commission (CFTC) settled charges against a small and now-defunct operation in San Francisco called Coinflip, which marketed bitcoin derivatives. In the process, the CFTC asserted for the first time that bitcoin is a “commodity”.

im done replying to you. you're just lazy and making me do a bunch of google searches for you that you could easily do yourself.

 

[Mr Mojo Lane]

The fact that Bitcoin is traded on the futures market now instead of the Forex would lead me to believe that it is more of a commodity than a currency.

 

[Tyrannosaurus rex]

I'm looking to get into Cryptocurrency. Don't know a whole lot about it, I admit, so I won't start with any big amounts of money.

Thinking of using Kraken or Binance. Anyone got any recommendations or experience with these two? I live in Europe, if that matters.

 

[Midnighter]

Do you understand why physical gold has actual value? Do you understand why it's an actual commodity?

I don't.

 

[ChucksGlassJaw]

I don't.

It's not only a versatile metal, but it's also virtually indestructible.

 

[Der Eisbär]

I'm looking to get into Cryptocurrency. Don't know a whole lot about it, I admit, so I won't start with any big amounts of money.

Thinking of using Kraken or Binance. Anyone got any recommendations or experience with these two? I live in Europe, if that matters.

You can only buy/sell/trade on binance with bitcoin and ether. So to get started you would have to acquire those elsewhere, and send them to binance. It's a hassle and not really for beginners. Easiest way to get started is to start on coinbase, which has a website and a smooth mobile app and allows you to purchase with a debit/credit card which is the only one I know of where you can do that.

 

[Tyrannosaurus rex]

You can only buy/sell/trade on binance with bitcoin and ether. So to get started you would have to acquire those elsewhere, and send them to binance. It's a hassle and not really for beginners. Easiest way to get started is to start on coinbase, which has a website and a smooth mobile app and allows you to purchase with a debit/credit card which is the only one I know of where you can do that.

Thanks! Coinbase has a good rep from what I hear, but they only have 3 crypto coins which kinda sucks.

 

[Der Eisbär]

Thanks! Coinbase has a good rep from what I hear, but they only have 3 crypto coins which kinda sucks.

Kraken and Gemini are other exchanges I would trust and they have more. Keep your eye on the news for when coinbase adds a new coin to their exchange because you can expect a surge in it's price based on that.