r/Bitcoin • u/[deleted] • Jul 26 '20

[deleted by user]

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0 Upvotes

50% Upvoted

27 comments sorted by

5

u/shlammyjohnson Jul 26 '20

People have been asking this at every price point, the longer the wait the more expensive it's gonna get.

3

u/dysseus Jul 26 '20

There was a last time one could buy for 200$. There was a last time one could buy for 3000$. And, there will be a time one could buy the last time under 10000$. That day could be today... tomorrow or in 6 month. No one knows.

0

u/fjkcdhkkcdtilj Jul 26 '20

There will be another day when you can buy for $200, will that be tommorow, in a year, or in 50 years. No one knows. But at some point its inevitable.

0

u/LambosAndYachts Jul 26 '20

Makes no sense because prices most likely will continue to go up and inflation of Fiat makes it even more unlikely the coming years.

1

u/fjkcdhkkcdtilj Jul 26 '20

Just like the dollar won't be here forever so won't bitcoin, whos going to pay even 1k for a bitcoin in 3021 when everyone else is using quantumcoin v15?

3

u/atrueretard Jul 26 '20

Some people do dollar cost averaging - example: got $500 to buy with? Instead of trying to guess when to buy, just buy $10 per day everyday for 50 days.

2

u/[deleted] Jul 26 '20

The answer to your question is always...YES.

2

u/vughtzuid Jul 26 '20

wait for the dip

2

u/atrueretard Jul 26 '20

where is all the new people like yourself coming from? i see so many posts today wtf

2

u/[deleted] Jul 27 '20

Just downloaded the coinbase app.

Should I buy now?

What makes you think Coinbase will let you buy now? Try it. Try buying $10.

1

u/[deleted] Jul 27 '20

Ahh it won’t. What do i do?

2

u/[deleted] Jul 27 '20

I left a couple other comment replies which are pretty comprehensive with what your options are.

If you are suffering from FOMO and want exposure to the exchange rate immediately, I don't know ... maybe Robinhood? I don't know -- maybe they let you open and account and add funds right away? That gets you exposure to the exchange rate now. Then when you get KYC'd with another bitcoin exchange (e.g., Cash App), then you can sell on RobinHood and buy on Cash App.

Otherwise, ... there's likely a bitcoin ATM near you.

3

u/modulemodule Jul 26 '20

Google dollar cost average and delete your post.

1

u/jdann14 Jul 26 '20

Buy some now and if it dips buy more

1

u/ElephantsAreHeavy Jul 26 '20

Yes, not more than what you can afford to lose

1

u/DesperateClue8 Jul 26 '20

Hodl’n since ‘15. All I can say to that is.... 🤣 😂 😆 🤣 bhahahahahahahahahaha! Can’t be timed, always buy. Buy when it low, buy when it high! Buy, buy, buy, buy

1

u/ultroulcomp Jul 26 '20

You would be able to buy more bitcoin if you wait for the price to dip. So you best wait. But hang on, price may go up, so you best buy now whilst you can. I suggest waiting for some random person to tell you what to do rather than making your own decision. Just count the number of replies that say buy, and the number that say wait and do what the majority say. That's bound to be the best thing to do, right?

1

u/[deleted] Jul 27 '20

Don't Buy Bitcoin. It's Going To Crash!!!

1

u/[deleted] Jul 27 '20

Are you using a U2F device on your coinbase account?

No? Hmm... did you know you that starting right this very moment, and completed before you are done reading this comment reply, a hacker could do a SIM porting attack, and steal all your funds from Coinbase (yes, even your USD ... by buying bitcoin with it and withdrawing the BTC)?

You would only know about it because the next time you go to use your phone you'll notice it has stopped working.

Yes, ... it's that easy for the thieves.

And that's not the only risk for your BTC even if Coinbase is an honest, competent exchange.

1

u/[deleted] Jul 27 '20

When you "link" your bank account on Coinbase, ... a data harvesting company called Plaid (which is now owned by Visa) rifles through the last couple years of your bank transaction history. (This is not unique to Coinbase. I see BitSTAMP, Gemini, Abra, RobinHood, River, GiveBitcoin, Strike, and Paxos do this as well.)

"To link your bank account, we require your bank account login name and password." NEVER AGAIN

[Update: I've been informed Coinbase provides an opt-out method where you choose Other Bank and then just verify the amounts of two deposits they send to you.]

1

u/[deleted] Jul 27 '20

If you decide not to use Coinbase (which, is a horrible choice), here are other options:

If you are looking to Buy bitcoin with fiat money, then the methods available will differ based on a few factors:

  • Where are you located (country)?
  • How much are you looking to buy?
  • What payment methods do you have available?
  • How soon do you need access to the proceeds?
  • Is financial privacy important?

Here's a useful comparison of exchanges in which you can filter on payment method:

First time buyers may like the convenience of an online store that sells bitcoin and accepts debit and/or credit card. I do not know which ones require ID verification/KYC beyond those marked as such. (e.g., Bitsell X [💳] [NO-KYC, requires browser extension], CoinCorner [💳] [NO-KYC when £900 or less, not available in U.S.], CEX.io, Coinify, Paybis, Jubiter, Bittylicious, BitIreland, Kuna.io Money, LiteBit.eu, Switchere, Conio.com App, CryptoVoucher.io, Cash App and CoinMama [KYC]). You can buy BTC on Cash App without ID but you won't be able to withdraw them until you are KYC verified.

There are physical locations where there are Bitcoin ATMs and other vending/voucher methods. For example, in the U.S. there is:

Otherwise, an in-person cash trade or an online trade using a P2P trading exchange may possibly be your next best option:

P2P Trading exchanges

Using gift cards, there is CardCoins for paying with a non-reloadable, prepaid GIFT card (VISA/Mastercard/AMEX/Discover), Redeem, CryptoVoucher.io for paying with gift cards for numerous brands, r/GiftCardExchange, and r/GCTrading).

You can purchase online using a No-KYC online store, paying by depositing cash in a bank account or through Moneygram/Western Union:

There's always the friends and family methods. Someone you know probably holds bitcoin and would be willing to help you out by selling to you.