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Bitcoin is still so dang confusing to me...

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Dee420Bard978

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Jan 16, 2022
Posts
106
Coin Star I'm sorry coinme is the app after you receive your ticket(punch the code they give you) depending on how BTC is doing on top of coin stars tax it can be very expensive but definitely worth it
 

jaders

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Feb 1, 2012
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Coin Star I'm sorry coinme is the app after you receive your ticket(punch the code they give you) depending on how BTC is doing on top of coin stars tax it can be very expensive but definitely worth it

I originally tried coinstar but yeah - way too expensive. I think I’m getting the hang of it with Coinbase. It’s definitely an “adventure” tho…😏
 

Santa's little helper

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Feb 24, 2020
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3,824
does anyone know if you can buy crypto with a credit card? I’ve always used my debit but it be nice to get the points.
That's a fair question River; wonder if this thread could include a best practice or definitive section?
(similar to the old sticky's>
Edit> I get that this has probably been answered, Just need to be convinced this is a good idea.
 
Last edited:

spex

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Oct 22, 2012
Posts
73
This discussion has inspired me to learn more about cryptocurrency. I’m not ready to use it for anything but it’s definitely worth knowing the ideas behind it. I got a book from the library that’s sort of like: crypto for dummies.
 

jaders

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Feb 1, 2012
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This discussion has inspired me to learn more about cryptocurrency. I’m not ready to use it for anything but it’s definitely worth knowing the ideas behind it. I got a book from the library that’s sort of like: crypto for dummies.

If you intend to be a “player” in the IOP world I think it’s a very good idea. 😃
 

legend0710

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Joined
Sep 25, 2015
Posts
259
I've always been so confused with bitcoin as well, it seems so over the top complicated to figure out. However I do imagine once understood like anything it would be easy. That last part was much easier for me in my younger days to figure out, these days I need a knap just trying to figure it out :)
 

fundus

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May 31, 2015
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Best thing for beginners to do is watch a bunch of youtube videos so you can visually watch how it works. Purchasing the BTC is the easiest part, the confusing part for probably most people is getting a third party wallet and transferring any purchased coins to that wallet that's NOT associated with a big broker like Coinbase. I'm sure this has already been stated if not in this thread but others like it, is to not use a Coinbase wallet, as you want to keep your funds and transactions private, or as much as you can.
 

jaders

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Feb 1, 2012
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4,503
Best thing for beginners to do is watch a bunch of youtube videos so you can visually watch how it works. Purchasing the BTC is the easiest part, the confusing part for probably most people is getting a third party wallet and transferring any purchased coins to that wallet that's NOT associated with a big broker like Coinbase. I'm sure this has already been stated if not in this thread but others like it, is to not use a Coinbase wallet, as you want to keep your funds and transactions private, or as much as you can.

I definitely watched several. The confusing part to me the most, is knowing how to send the right amount to use for a purchase. The whole guessing the transaction fee and how long it will take based on that fee was a bit difficult. Also the most anxiety producing piece is just knowing that if you eff up, money is just “gone.” 😏.

Haven’t used it again since my first time and of course I stupidly let it sit in Coinbase so it’s quite a bit lower than what I bought it for, as I purchased last fall at the very top…😏

Trying to just ignore it for now, but I do feel I could do it again if and when.🤔
 

fundus

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May 31, 2015
Posts
600
@jaders if you get an app like breadwallet and send your btc to that wallet, copy and paste the address of the recipient you can then just type in the dollar amount and it automatically does the btc calculation for you. There are two arrows facing up and down to choose whether you want to type the btc amount or dollar amount, I've always just used the dollar amount and hit send, works like a charm.
 

seashells

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Nov 27, 2013
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3,814
@jaders Electrum is the one the all seem to want us to use. I don't know why, and I only know to go to the ATM and proceed from there. It's just so aggravating!
 

suncity

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Jun 21, 2011
Posts
548
I don't get it either, thankfully there are still some options... but it is getting tough.
 

Turnham

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May 9, 2011
Posts
786
I can just about manage to use Bitcoin, each transaction (which should take minutes) takes me about an hour to figure out what I am doing, then I need to go and lie down in a dark room to recover:ROFLMAO::ROFLMAO::ROFLMAO:
 

notcharlotte

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Jul 21, 2013
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4,265
i can successfully use a btc atm, but the fees are up to 15%. is this nation-wide? 15% is a big chunk of change, and i'm not sure i can keep using it at that price.
 
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