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surlybevo

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Muy Frio

Muy Frio 182

Posted
Posted
41 minutes ago, Nice Guy Eddie said:

I’ve used it in the past and no problems. Their ceo, jack dorsey, is a relatively early adopter of bitcoin so happy to support him. And unlike PayPal, Cash allows you to transfer the bitcoin off the app.

One thing that I don’t like about buying on the cash app is that it’s a 2 step process.  You have to fund your account and then make the buy. No big deal unless you want to stop at the last confirmation when you’ve seen the fees and final trading price. The money has already been withdrawn from your bank account.

If you decide to cancel at that last step, you can redeposit the funds back to your bank. In 3 days.

I haven’t had to fund my account. It’s just linked to a checking account and comes directly from there. 

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Nice Guy Eddie

Nice Guy Eddie 13508

Posted
Posted
45 minutes ago, Muy Frio said:

I haven’t had to fund my account. It’s just linked to a checking account and comes directly from there. 

I will expand. 

Here is how the Cash app works for me:

  1. I indicate how much bitcoin I want to buy in $ USD.
  2. I agree to have the money withdrawn from my checking account. (I assume this is skipped if I have a balance on the Cash app.)
  3. The money is withdrawn from my checking account
  4. The final exchange rate and fees for the bitcoin purchase are displayed.
  5. I accept and the bitcoin purchase is made.

If I cancel in Step 5, the money has already been withdrawn from my checking account and I would be left with a balance in the Cash app. 

In contrast, if I bought on Coinbase, the money is not pulled from my checking account until I finalize the overall bitcoin purchase, step 5. If I cancel the bitcoin purchase at the end, no money is withdrawn from my checking account. 

 

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Muy Frio

Muy Frio 182

Posted
Posted
39 minutes ago, Nice Guy Eddie said:

I will expand. 

Here is how the Cash app works for me:

  1. I indicate how much bitcoin I want to buy in $ USD.
  2. I agree to have the money withdrawn from my checking account. (I assume this is skipped if I have a balance on the Cash app.)
  3. The money is withdrawn from my checking account
  4. The final exchange rate and fees for the bitcoin purchase are displayed.
  5. I accept and the bitcoin purchase is made.

If I cancel in Step 5, the money has already been withdrawn from my checking account and I would be left with a balance in the Cash app. 

In contrast, if I bought on Coinbase, the money is not pulled from my checking account until I finalize the overall bitcoin purchase, step 5. If I cancel the bitcoin purchase at the end, no money is withdrawn from my checking account. 

 

Ah gotcha. I’ve never stopped between. 

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zork

zork 629

Posted
Posted
2 hours ago, Nice Guy Eddie said:

I’ve used it in the past and no problems. Their ceo, jack dorsey, is a relatively early adopter of bitcoin so happy to support him. And unlike PayPal, Cash allows you to transfer the bitcoin off the app.

One thing that I don’t like about buying on the cash app is that it’s a 2 step process.  You have to fund your account and then make the buy. No big deal unless you want to stop at the last confirmation when you’ve seen the fees and final trading price. The money has already been withdrawn from your bank account.

If you decide to cancel at that last step, you can redeposit the funds back to your bank. In 3 days.

was able to make a payment this morning with the transacted bitcoin from last night.  pretty slick.(fees are just part of it I guess at this point)  Still seem to be restricted from adding more.  so get your cashapp shit started well before you actually need to do it since it takes several hoops to jump through.  but that is cool if the security is there.

 

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Burt Macklin

Burt Macklin 19020

Posted
Posted
10 hours ago, zork said:

Anyone used Cash App App to buy and trade or use or sell Bitcoin?  Any pitfalls to watch out for?  Did a 50$ purchase within minutes of installing the app as a trial.  Trying again it is not letting me and I had to set up more stuff that is validating.

Am I asking for trouble with this app?

It’s extremely convenient, but you’ll pay more in fees there than somewhere like Coinbase Pro. That’s the only real trade off I’ve encountered. 

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Burt Macklin

Burt Macklin 19020

Posted
Posted (edited)

BTC appears to be in a downward trend. It’s set a new low 6 days in a row. We’re nearing the last time for it to rally up before we’re likely headed for low 30s again IMO. If it breaks 36,400, I think we’ll start to see it go south quickly. 
 

ETH is still in a 15 day run with only one red day in that time. It fell into the 25s probably due to concern over the update, but it’s rallied back. 2800-3000 has been a point of resistance. It would be great if the update doesn’t have any major issues and can drive a push above the 3k mark. 

Edited by Burt Macklin
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Blotto

Blotto 23488

Posted
Posted (edited)
4 hours ago, Nice Guy Eddie said:

I will expand. 

Here is how the Cash app works for me:

  1. I indicate how much bitcoin I want to buy in $ USD.
  2. I agree to have the money withdrawn from my checking account. (I assume this is skipped if I have a balance on the Cash app.)
  3. The money is withdrawn from my checking account
  4. The final exchange rate and fees for the bitcoin purchase are displayed.
  5. I accept and the bitcoin purchase is made.

If I cancel in Step 5, the money has already been withdrawn from my checking account and I would be left with a balance in the Cash app. 

In contrast, if I bought on Coinbase, the money is not pulled from my checking account until I finalize the overall bitcoin purchase, step 5. If I cancel the bitcoin purchase at the end, no money is withdrawn from my checking account. 

 

Strange. Thats not how it work for me (I have no current balance on cash app). I can select the investing option with the slider set to bitcoin. I select the buy button, and I am then presented with a dialogue to select how much in USD I want to buy. when I select next, I am prompted for my PIN, and once entered I am presented with a confirmation screen showing rate, fees, etc... at no point does money get withdrawn from my bank account. I can either submit the order or back out of it. 

and yes the fees are ridiculous compared to coinbase pro: 

For $100 purchase using cash app - fees are $2.26

For $100 purchase using coinbase pro - fees are $0.04

EDIT - I have it linked to a card rather than a checking account. Not sure if that matters. 

Edited by Blotto
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zork

zork 629

Posted
Posted
2 hours ago, Blotto said:

Strange. Thats not how it work for me (I have no current balance on cash app). I can select the investing option with the slider set to bitcoin. I select the buy button, and I am then presented with a dialogue to select how much in USD I want to buy. when I select next, I am prompted for my PIN, and once entered I am presented with a confirmation screen showing rate, fees, etc... at no point does money get withdrawn from my bank account. I can either submit the order or back out of it. 

and yes the fees are ridiculous compared to coinbase pro: 

For $100 purchase using cash app - fees are $2.26

For $100 purchase using coinbase pro - fees are $0.04

EDIT - I have it linked to a card rather than a checking account. Not sure if that matters. 

are there differences other than the fees?  like the ease of use once you are set up on cash app seem ridiculously easy.  no idea on coinbase. 

I worked for a former board of trade bigwig back in the day.  one thing he always expressed was being able to get in and out was the biggest thing if you are right more times than you are wrong.  Apparently cashapp is having issues today.  or maybe it is because im new to it.  anyway I just wanted to add 500$ and it won't let me.  they say it is on their side, not my bank or anything I did. 

No big deal unless it is like that a lot.

 

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Muy Frio

Muy Frio 182

Posted
Posted
4 minutes ago, zork said:

are there differences other than the fees?  like the ease of use once you are set up on cash app seem ridiculously easy.  no idea on coinbase. 

I worked for a former board of trade bigwig back in the day.  one thing he always expressed was being able to get in and out was the biggest thing if you are right more times than you are wrong.  Apparently cashapp is having issues today.  or maybe it is because im new to it.  anyway I just wanted to add 500$ and it won't let me.  they say it is on their side, not my bank or anything I did. 

No big deal unless it is like that a lot.

 

I’ve never had those issues with it.

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Blotto

Blotto 23488

Posted
Posted
13 minutes ago, zork said:

are there differences other than the fees?  like the ease of use once you are set up on cash app seem ridiculously easy.  no idea on coinbase. 

I worked for a former board of trade bigwig back in the day.  one thing he always expressed was being able to get in and out was the biggest thing if you are right more times than you are wrong.  Apparently cashapp is having issues today.  or maybe it is because im new to it.  anyway I just wanted to add 500$ and it won't let me.  they say it is on their side, not my bank or anything I did. 

No big deal unless it is like that a lot.

 

Be aware that Coinbase and Coinbase pro are different. Coinbase has fees closer to that of Cash and is much closer to the same functionality. coinbase pro is more of a trading tool like a brokerage (set limit orders, more visibility into pricing etc...), so its a little more involved but not much. Not enough to justify the difference in fees. 

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XYZ

XYZ 2154

Posted
Posted

So assuming that this Warner-Portman-Sinema legislation passes, what are the repercussions? Crypto mining effectively outlawed in the USA? What else? I guess if a merchant wanted to take payment in crypto they would have to collect the same bullshit KYC information as banks?

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Muy Frio

Muy Frio 182

Posted
Posted
25 minutes ago, XYZ said:

So assuming that this Warner-Portman-Sinema legislation passes, what are the repercussions? Crypto mining effectively outlawed in the USA? What else? I guess if a merchant wanted to take payment in crypto they would have to collect the same bullshit KYC information as banks?

No it’s more than that.

First of all, they make an exception for PoW mining. But even as a borderline Bitcoin maximalist that doesn’t mean much to me. They’ll just come back for that later under some bullshit ESG justification. 
 

Any network validators like in Proof Of Stake networks could be considered “brokers” meaning they would be required to report KYC on the accounts transacting which is literally impossible. Same potentially for nodes on both the Lightning network and the regular Bitcoin network. Basically they’re trying to make unsatisfiable reporting requirements. The end result will be a large degree of crypto industry and infrastructure moving offshore. It’s colossally dumb, but they’re desperate as evidenced by their shady tactics. 

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Lobwedgephil

Lobwedgephil 1139

Posted
Posted
3 hours ago, Nice Guy Eddie said:

I’ve always thought that Dollar cost buying or buying the dips is the best strategy. There are too many factors that cause the price to go up or down. I don’t see how someone can be a frequent trader and maximize their profits. 

Bitcoin and ETH trade very well technically, so a lot of money can be made on the moves with the volatility, but you have to know what you are doing. 

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Muy Frio

Muy Frio 182

Posted
Posted (edited)

Crossposting this one. Some of y’all may still own Silvergate. I know a few bought it during the last run. Here’s a good thread breaking down possible impact of FB and Diem stablecoin partnership. 
 

 

From what I’ve seen they plan on launching it by EOY

Edited by Muy Frio
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XYZ

XYZ 2154

Posted
Posted

Looks like they agreed on the crypto legislation. Validators exempted from KYC rules. I’m not clear on whether this law will force online retailers to use KYC if they accept payment in crypto. Wouldn’t that be kind of a big deal?

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Muy Frio

Muy Frio 182

Posted
Posted
56 minutes ago, XYZ said:

Looks like they agreed on the crypto legislation. Validators exempted from KYC rules. I’m not clear on whether this law will force online retailers to use KYC if they accept payment in crypto. Wouldn’t that be kind of a big deal?

Womp womp 

Next fight will be in the House version 

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C-Man

C-Man 27187

Posted
Posted (edited)

So I’m basically a total moron when it comes to crypto aside from trying to set up Coinbase after a buddy and met for beers week before last.

Another friend, more of an acquaintance, is involved with mining Helium through iHub Global. My address qualifies for a free hardware unit based on the number of other units around me.

This guys does stuff like this for shits-and-giggles. No risk, not cost and can cancel whenever, he says. Seems a little MLM-y to me.

Just got the info sent tonight and figured y’all might have information.

Be gentle — I’m new here.

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C-Man

C-Man 27187

Posted
Posted
51 minutes ago, C-Man said:

So I’m basically a total moron when it comes to crypto aside from trying to set up Coinbase after a buddy and met for beers week before last.

Another friend, more of an acquaintance, is involved with mining Helium through iHub Global. My address qualifies for a free hardware unit based on the number of other units around me.

This guys does stuff like this for shits-and-giggles. No risk, not cost and can cancel whenever, he says. Seems a little MLM-y to me.

Just got the info sent tonight and figured y’all might have information.

Be gentle — I’m new here.

Well, see ya later: https://www.valforex.com/ihub-global-review-ihub-global-is-a-fraudulent-mining-network/

Quote

iHub Global is a new platform that is promising massive profits to the users in cryptocurrency. The website of this company, iHub.Global even goes as far as saying that it is the most well-established mining network that can provide massive passive income to the users. 

The team behind this company has a very controversial working history in the MLM and the crypto industry. Therefore, it is very important to review this company in detail to determine whether you should trust this platform or not. 

What is iHub Global?

iHub.Global does not provide any direct details about the owner of the company or any prominent individuals behind the platform. However, further research of the company’s Vimeo channel shows that Chuck Hanson is involved in the organization in some capacity. However, it is not clear that what his role is in iHub Global.

Another prominent name in the marketing material of iHub Global is Rick Cotton. Cotton has been a prominent name in the crypto industry as he was the CEO of a Ponzi scheme. However, the company collapsed soon after its introduction. Similarly, Cotton was involved in a number of other similar platforms that scammed people. 

It simply means that you cannot trust iHub.Global to provide significant profits to the users. The working model of the company is also very ambiguous. At one place, it is claiming to be a crypto mining network that provides profits via crypto mining. On the other hand, it is also presenting itself as a marketing and non-profit organization. 

Domain Insights

iHub.Global was registered in December 2020. It shows that the company is a new platform that contradicts its original claims of being a well-established company. The analysis of the website shows that the USA is contributing the highest amount of traffic to the website. 

The website traffic is also an indication of the fact that iHub Global is not actually a global platform like it is claiming to be. Instead, it is currently restricted to the USA. It is highly possible that the company is making such false claims to attract as much investment as it can. 

👉 ***Do you want to earn a side income with a stable crypto investment platform that generates sustainable monthly yields? Get this: You can now make a steady profit margins thanks to a new innovative way of investing in crypto. YieldNodes is the answer you need to start making a decent profit with cryptocurrency investment whether you are a beginner or professional in the crypto space. A multi-tiered node rental program is what Yield nodes is bringing to the table. Master-noding is the avant-garde of generating high ROI thanks to the ingenious of Stefan Hoermann and his team. With master-noding, you invest and let the platform do the rest for you. What is master-noding? It is not TRADING. It’s a new way of generating revenue by providing technology that relies on a proof of stake approach. Yieldnodes operates these crypto master-nodes and optimizes complex strategies to ensure members earn a profit. Yield Nodes will prioritize your security by providing accurate investment options. Members get protection from external losses or unforeseen changes in market conditions. This is not in any way a get rich quick scheme; once you deposit funds; you have to wait for the yields to mature. Yieldnodes is providing a proven, innovative, and secure way of making high returns on your investment with crypto master-noding.  With just a minimum deposit of €500, you are good to go! With a minimum contract duration of four months, it gives users a chance to fully experience master-noding. By joining Yieldnodes, you stand a chance of making 5 to 15% every month.  If you are still wondering whether this is a safe option, you can cancel the contract at any given time. For those who want to join and upgrade their investment strategy, Yield Nodes is the solution.

Click Here To Sign up with Yieldnodes Today

PS: YieldNodes is 100% Verified and Recommended by Valforex.com.

Products of iHub Global

It is important to discuss the products of iHub Global because it claims to provide a number of products to the users to help them in making profits. However, the company fails to provide any satisfactory information to the convince about the legitimacy and authenticity of the products. 

The website is claiming that the affiliate members have the option of buying Emrit CoolSpot Helium Network Token mining equipment. This device is capable of connecting to the global crypto mining network and allows users to mine a large number of Helium network tokens (HNT).

You should note that this company does not have any standing in the crypto industry. There is no proof that you will actually be able to mine the crypto tokens. The marketing material of the company also mentions having state-of-the-art mobile apps and IoT devices like sensors that are useful in the mining processes.

How to Join iHub Global?

The initial affiliate membership of iHub Global is free. However, you cannot earn any income from the free membership. Instead, you have to buy a package of $99. In this package, you are required to pay $99 on an annual basis. iHub.Global states that this package will provide you with access to the marketing funnels to help you in generating profits in the crypto industry. 

However, there is no proof that you will be getting any profits or benefits by joining iHub Global. Therefore, you should avoid buying its packages. Instead, you should invest in trustable crypto mining companies. Such companies have a wide range of mining options to help both beginners and experts in mining the crypto coins and earn profits. 

Income Structure of iHub Global

Once the users buy the $99 package of iHub.Global, they will become the affiliates of the company and get a chance to participate in the income structure of the company. The entire income structure of iHub Global revolves around personal recruitment of other affiliates:

If a member recruits 1 to 5 affiliates, they will get a position on the Pro Team. 

If a member recruits 6 to 15 affiliates, they will get a position on the Bronze Team. 

On recruiting 16 to 25 affiliates, you will get a position on the Silver Team. 

On recruiting 26 affiliates or more, you will get a position on the Gold Team. 

Commission

The company is not providing any further details about its HNT mining processes. Instead, iHub.Global only states that the members can get commission rates on the mining of HNT as per the following breakdown:

Members can get a 10% commission on the Pro team

Members can get a 15% commission on the Bronze team

Affiliates can get a 25% commission on the Silver team

Affiliates can get a 30% commission on the Gold team

Despite providing such a comprehensive breakdown of the commission rates, iHub Global does not make it clear about how the company is going to distribute the income. Hence, it is highly possible that the company is lying about these profits to attract more users. 

Residual Commissions

iHub.Global is using a traditional income structure of any other crypto Ponzi scheme in which a company promises residual commissions to the users to attract more investment. These types of commissions are also distributed on the basis of the team rank. 

Members of the Pro Team can generate 5% residual commissions from every member in their Bronze Team. 

Members of the Pro Team can generate 15% residual commissions from every member in their Silver Team. 

Affiliates of the Pro Team can generate 20% residual commissions from every member in their Gold Team. 

Other than these major types of commissions, the company is also promising a number of other bonuses like the Pro Team Bonus. It is quite evident that the purpose of all of these profits is to attract more users and make them invest in the company. 

Conclusion

It is quite surprising to see that iHub Global presents itself as the most reliable passive income opportunity on its Vimeo channel. The company is claiming to be a highly modern platform for crypto trading. However, the working procedures of the company show that affiliate memberships are the driving force of the company. 

The company does not seem to have any external source of revenue. It means that iHub Global will collapse due to a lack of funds when people stop registering at it. Moreover, the income structure of the company is full of ambiguities. It fails to provide sufficient details about mining the Helium Network Tokens (HNT).

In fact, in the entire business model of iHub.Global, it seems like the company does not have anything to do with the crypto industry. There is a very high possibility that the iHub Global is only a Ponzi scheme that is posing as a crypto platform to seem like a legitimate investment opportunity. 

You should also remember the controversial history of the team behind iHub Global. As a result, there is no point in trusting a company that fails to prove its authenticity to the users. You should remember that a good alternative to iHub.Global would be investing in crypto mining companies. You can expect to earn a significant amount of profits by mining your own crypto coins through reliable, legal, and efficient mining companies. 

 

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Nice Guy Eddie

Nice Guy Eddie 13508

Posted
Posted
13 hours ago, Muy Frio said:

Weren’t some of y’all fucking with Poly? hopefully nobody got burned 

 

 

10 hours ago, bernorange said:

I've got a small position.  Nothing I'll lose sleep over if it goes to zero.

Im fairly certain Poly Network isn’t the same as Polygon, which is the coin some of us own. Poly Network claims a partnership with Polygon but they also claim that with Binance, ethereum, and a host of other projects.

In DeFi, “investors” over leverage themselves to buy more coins. Use their initial balance to borrow so they can buy more coins. Repeat repeat repeat. If so, they and the people who provided the loans just got wrecked. This could include companies like Celsius or BlockFi, who are vague where they store their customers’ coins to chase higher yields. But perhaps this was even too risky for them.

if it was $600m, you have to think there is more fallout to come.

 

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Muy Frio

Muy Frio 182

Posted
Posted
6 hours ago, C-Man said:

Well, see ya later: https://www.valforex.com/ihub-global-review-ihub-global-is-a-fraudulent-mining-network/

 

Yeah your first post sounded like a cloud mining operation which are known scams. Getting into mining from the jump is probably not the best way to dip your toes in crypto. Buying small amounts and holding is the best way if you’re curious. 

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Nice Guy Eddie

Nice Guy Eddie 13508

Posted
Posted

In regards to that $600m hack, there is chatter online that the hacker has given some of it back and said he will give it all back. Perhaps he's the dog that caught the car and now doesn't know what to do with it. I would have to guess that, if that story is at all true, he's being contacted by others that would want to help him launder it.

One problem with hacks of that size is that it can create issues for any wallet that the stolen funds touch. 

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Acropora

Acropora 856

Posted
Posted
7 hours ago, bernorange said:

Does anyone here have any experience using CoinTracker to calculate tax impact of crypto trading?  Any issues with connecting CoinTracker to any exchanges for auto-synch?

I use contracting.info.  created a nice excel document my accountant liked and synced with most major exchanges, with voyager being one rare exception (though coming soon)

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Muy Frio

Muy Frio 182

Posted
Posted

Looks like it’s going to be a check the price repeatedly kind of weekend. Pushing 48k. 
 

On 8/12/2021 at 4:29 PM, XYZ said:

How does “crowdsourcing” work? I thought when your rep goes below -100 you are gone. You went below -100 today but you can still post. 

I honestly am not sure other than I think if I stay above -100 I can stay active. 

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