The Bitcoin (crypto) Beginner's Guide

Discussion of all things crypto and blockchain.
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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Sun Dec 31, 2017

christostock wrote:
Bucketeer wrote:Why is CB rejecting your photo id Chris?

My option is that you consider a hardware wallet called KeepKey. As long as you have a copy of your 12 work pass-phrase, you will always be able to recover your coins.

Some people use a cheap smartphone for storage(remove the battery).

I want to trade so i need an account somewhere with some live ammo.
I dont know if i can accept anything without having my friggin license pictured and in their system?
I was able to make the account and i was able to create an address. But this is where i am stopped.


So,are you uploading a copy of both sides of your drivers license, and it getting rejected? You will need to upload photo id for AML/KYC regulations. Unfortunately, at CB, customer service time can take days for a response. CB is flooded with new applications.

If you are interested in a position of 5 BTC, you can trade on the CME. I've been thinking of moving over there, even tho I don't trade. I would deposit it and let it rollover. I know it can be marginable, but I think it is 2 for 1, because of the volatility. Settlement is cash-only.

There is also the Gemini Exchange. I have an account there but I've never used it. I think they do a better job than CB, but I've been with CB for over 4 years, therefore I am established with CB and I don't have any problems with CB.
Last edited by Bucketeer on Sun Dec 31, 2017, edited 3 times in total.
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christostock
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Re: The Bitcoin (crypto) Beginner's Guide

Postby christostock » Sun Dec 31, 2017

Bucketeer wrote:
christostock wrote:
Bucketeer wrote:Why is CB rejecting your photo id Chris?

My option is that you consider a hardware wallet called KeepKey. As long as you have a copy of your 12 work pass-phrase, you will always be able to recover your coins.

Some people use a cheap smartphone for storage(remove the battery).

I want to trade so i need an account somewhere with some live ammo.
I dont know if i can accept anything without having my friggin license pictured and in their system?
I was able to make the account and i was able to create an address. But this is where i am stopped.


So, you are uploading a copy of both sides of your drivers license, and it getting rejected?

There is also Gemini.

Coinbase cannot process this request.
It will not allow the upload of the pictures
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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Sun Dec 31, 2017

JPG format and reduced picture size?

I added some comments to my previous post, please take a look.

https://gemini.com/
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Re: The Bitcoin (crypto) Beginner's Guide

Postby jcz1 » Sun Dec 31, 2017

Bucketeer wrote:
My option is that you consider a hardware wallet called KeepKey. As long as you have a copy of your 12 work pass-phrase, you will always be able to recover your coins.


Is this 12-word pass phrase basically the same as a paper wallet? That would seem to be the only way you can recover your coins after losing the hardware, unless these hardware wallets are making backups on their own.
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Sun Dec 31, 2017

I've never used a paper wallet, but I believe you are correct Jim.

The benefit of using hardware storage is that your private keys are offline (air-gaped). I believe that if you lose the hardware device, you can restore to a standard hot wallet with your pass-phrase, but you'd need to verify this.

There are advantages to paper wallets - they are free, and you can make multiple copies of your wallet pass-phrase.

Doge or somebody else on here might be able to give you an accurate answer, this is just my understanding of hardware wallets. I considered paper wallets, but I would laminate the paper wallet to protect it from possible damage. I would also make a few additional copies of the wallet. Hope this helps, Happy New Year.

I recommend KeepKey for a cold wallet.
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Re: The Bitcoin (crypto) Beginner's Guide

Postby CaptainW » Mon Jan 01, 2018

christostock wrote:
Bucketeer wrote:
christostock wrote:
Bucketeer wrote:Why is CB rejecting your photo id Chris?

My option is that you consider a hardware wallet called KeepKey. As long as you have a copy of your 12 work pass-phrase, you will always be able to recover your coins.

Some people use a cheap smartphone for storage(remove the battery).

I want to trade so i need an account somewhere with some live ammo.
I dont know if i can accept anything without having my friggin license pictured and in their system?
I was able to make the account and i was able to create an address. But this is where i am stopped.


Chris, I had similar issues. I believe I took New photos of the ID without being zoomed in. Also for the selfie, my first couple were rejected. Once I stood against a solid colored wall, it was accepted.

So, you are uploading a copy of both sides of your drivers license, and it getting rejected?

There is also Gemini.

Coinbase cannot process this request.
It will not allow the upload of the pictures

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Re: The Bitcoin (crypto) Beginner's Guide

Postby Long John » Mon Jan 01, 2018

If I was Chris I would be overwhelmed by all these options coming from all directions (though he is doubtless better at absorbing and screening such info than I am). He's just trying to get the photo of his license accepted by Coinbase's ingester. In the meantime, several of us (including me) have offered to help set him up with some BTC right away, like Travis did for me when I was at a similar stage of frustration.

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Re: The Bitcoin (crypto) Beginner's Guide

Postby christostock » Mon Jan 01, 2018

Long John wrote:If I was Chris I would be overwhelmed by all these options coming from all directions (though he is doubtless better at absorbing and screening such info than I am). He's just trying to get the photo of his license accepted by Coinbase's ingester. In the meantime, several of us (including me) have offered to help set him up with some BTC right away, like Travis did for me when I was at a similar stage of frustration.

This is true.
Although, even if BS folks give me BTC (for any price) I still CANNOT buy or sell until they take my license.
Am I wrong on this?
I have heard others make similar statements about problems getting into the system and multiple people ultimately just gave up even trying!
Hard wallet, I believe is for holding? and it takes some time to get those coins into the trading system when you want to make a move?
So if someone wants to send me the very smallest amount of BTC possible to see if I can move it or trade it or anything then let me know what info you need from me to make that happen.
I Have some PPFF in my furniture account I can send if necessary.
I am trying to get my feet wet and be able to trade in and out.
PM me if you have any further suggestions
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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Mon Jan 01, 2018

christostock wrote:Although, even if BS folks give me BTC (for any price) I still CANNOT buy or sell until they take my license.
Am I wrong on this?

You are right, but only in regards to Coinbase/GDAX. You can create an account with simply an email address on Binance and deposit the BTC directly to your Binance account (or Cryptopia, or Liqui, or many other exchanges).
christostock wrote:Hard wallet, I believe is for holding? and it takes some time to get those coins into the trading system when you want to make a move?

Depends. I have a Trezor hardware wallet that can store both bitcoin, ETH, other alts, and any ERC-20 tokens (those that run on the Ethereum network) through MyEtherWallet (MEW). Bitcoin can take an hour or two to move from hardware wallet to exchange. Usually ETH takes 30 minutes or less. That usually is due to the exchanges requiring a lot of confirmations (for their safety). Binance has very good speed times for incoming TXs.
christostock wrote:So if someone wants to send me the very smallest amount of BTC possible to see if I can move it or trade it or anything then let me know what info you need from me to make that happen.
I Have some PPFF in my furniture account I can send if necessary.
I am trying to get my feet wet and be able to trade in and out.
PM me if you have any further suggestions

All you need to do is create a Binance account, go to the Funds tab, click on Deposits & Withdrawals, find Bitcoin (BTC), click on the Deposit button on the right side. Then you will see a BTC deposit address. Copy that and paste it in a PM to the person sending you the bitcoin. Then when they send, it will show up directly in your Binance account.
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Southpaw » Mon Jan 01, 2018

SilverDoge wrote:
christostock wrote:Although, even if BS folks give me BTC (for any price) I still CANNOT buy or sell until they take my license.
Am I wrong on this?

You are right, but only in regards to Coinbase/GDAX. You can create an account with simply an email address on Binance and deposit the BTC directly to your Binance account (or Cryptopia, or Liqui, or many other exchanges).
christostock wrote:Hard wallet, I believe is for holding? and it takes some time to get those coins into the trading system when you want to make a move?

Depends. I have a Trezor hardware wallet that can store both bitcoin, ETH, other alts, and any ERC-20 tokens (those that run on the Ethereum network) through MyEtherWallet (MEW). Bitcoin can take an hour or two to move from hardware wallet to exchange. Usually ETH takes 30 minutes or less. That usually is due to the exchanges requiring a lot of confirmations (for their safety). Binance has very good speed times for incoming TXs.
[quote="christostock"]

So if I pickup some VEN on Binance Can I send it directly to the Trezor or does it need to go through MEW first then to the Trezor a little confused on that.

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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Mon Jan 01, 2018

Southpaw wrote:
SilverDoge wrote:Depends. I have a Trezor hardware wallet that can store both bitcoin, ETH, other alts, and any ERC-20 tokens (those that run on the Ethereum network) through MyEtherWallet (MEW). Bitcoin can take an hour or two to move from hardware wallet to exchange. Usually ETH takes 30 minutes or less. That usually is due to the exchanges requiring a lot of confirmations (for their safety). Binance has very good speed times for incoming TXs.


So if I pickup some VEN on Binance Can I send it directly to the Trezor or does it need to go through MEW first then to the Trezor a little confused on that.


VEN is not currently supported by Trezor. Here are the coins supported right now:
http://doc.satoshilabs.com/trezor-faq/overview.html#which-coins-are-currently-supported

MEW only supports tokens that are running on the Ethereum virtual machine. It is an Ethereum "myetherwallet" (MEW) wallet. Tokens like DBET that run on the ETH network can be secured with a trezor because you can sign transactions securely with MEW as an interface. For coins with their own blockchain, they have to coordinate directly with the hardware wallets for eventual support. It is a slow process but it gets better by the week. So VEN would likely be stored on either a VEN created wallet you manage (downloaded from official VEN channels/websites/github), or an exchange.

EDIT: Update - VEN is in fact an ERC-20 token so disregard my above paragraph. One can use a trezor or nano ledger s hardware wallet to secure your VEN.
Last edited by SilverDoge on Mon Jan 01, 2018, edited 1 time in total.
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Recluse » Mon Jan 01, 2018

christostock wrote:Coinbase cannot process this request.
It will not allow the upload of the pictures


Are you seeing the option to upload the license?

From one computer with Opera I got the option to upload a scanned drivers license but after that it wanted a selfie and that computer had no web cam. Another computer with Firefox I never got the option to upload an image.

I ended up using a Samsung tablet successfully by taking a picture of the license. This was yesterday morning.
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Brick's » Mon Jan 01, 2018

This seemed like the best place to post this:

https://www.peakprosperity.com/blog/113 ... h-noon-est

$50 to attend! :shock: 2nd best way to make $$ off of Crypto, teach others about it. Little downside risk.

Peak Prosperity resident crypto expert Mark Rees to offer answers across the spectrum about Bitcoin, the other digital currencies, and the blockchain.
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Re: The Bitcoin (crypto) Beginner's Guide

Postby satosan » Mon Jan 01, 2018

SilverDoge wrote:
Southpaw wrote:
SilverDoge wrote:Depends. I have a Trezor hardware wallet that can store both bitcoin, ETH, other alts, and any ERC-20 tokens (those that run on the Ethereum network) through MyEtherWallet (MEW). Bitcoin can take an hour or two to move from hardware wallet to exchange. Usually ETH takes 30 minutes or less. That usually is due to the exchanges requiring a lot of confirmations (for their safety). Binance has very good speed times for incoming TXs.


So if I pickup some VEN on Binance Can I send it directly to the Trezor or does it need to go through MEW first then to the Trezor a little confused on that.


VEN is not currently supported by Trezor. Here are the coins supported right now:
http://doc.satoshilabs.com/trezor-faq/overview.html#which-coins-are-currently-supported

MEW only supports tokens that are running on the Ethereum virtual machine. It is an Ethereum "myetherwallet" (MEW) wallet. Tokens like DBET that run on the ETH network can be secured with a trezor because you can sign transactions securely with MEW as an interface. For coins with their own blockchain, they have to coordinate directly with the hardware wallets for eventual support. It is a slow process but it gets better by the week. So VEN would likely be stored on either a VEN created wallet you manage (downloaded from official VEN channels/websites/github), or an exchange.


This whole line of questioning was interesting to me because I really want to hold CC that I can keep in my own wallet. I haven't even really touched up much on the whole ERC20 token topic. I have a Ledger Nano S and looking at their website it would seem VEN is a MEW token that is ledger compatible through the MEW platform. Correct me if I am wrong this is the link.
https://ledger.zendesk.com/hc/en-us/art ... -supported
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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Mon Jan 01, 2018

satosan wrote:
SilverDoge wrote:
Southpaw wrote:
SilverDoge wrote:Depends. I have a Trezor hardware wallet that can store both bitcoin, ETH, other alts, and any ERC-20 tokens (those that run on the Ethereum network) through MyEtherWallet (MEW). Bitcoin can take an hour or two to move from hardware wallet to exchange. Usually ETH takes 30 minutes or less. That usually is due to the exchanges requiring a lot of confirmations (for their safety). Binance has very good speed times for incoming TXs.


So if I pickup some VEN on Binance Can I send it directly to the Trezor or does it need to go through MEW first then to the Trezor a little confused on that.


VEN is not currently supported by Trezor. Here are the coins supported right now:
http://doc.satoshilabs.com/trezor-faq/overview.html#which-coins-are-currently-supported

MEW only supports tokens that are running on the Ethereum virtual machine. It is an Ethereum "myetherwallet" (MEW) wallet. Tokens like DBET that run on the ETH network can be secured with a trezor because you can sign transactions securely with MEW as an interface. For coins with their own blockchain, they have to coordinate directly with the hardware wallets for eventual support. It is a slow process but it gets better by the week. So VEN would likely be stored on either a VEN created wallet you manage (downloaded from official VEN channels/websites/github), or an exchange.


This whole line of questioning was interesting to me because I really want to hold CC that I can keep in my own wallet. I haven't even really touched up much on the whole ERC20 token topic. I have a Ledger Nano S and looking at their website it would seem VEN is a MEW token that is ledger compatible through the MEW platform. Correct me if I am wrong this is the link.
https://ledger.zendesk.com/hc/en-us/art ... -supported


You are CORRECT! VEN is an ERC-20 token. Sometimes I get my coins crossed, and I was in error here. I doubled checked on etherscan.io and sure enough it is there as well.

https://etherscan.io/token/0xd850942ef8811f2a866692a623011bde52a462c1
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Re: The Bitcoin (crypto) Beginner's Guide

Postby christostock » Mon Jan 01, 2018

Recluse wrote:
christostock wrote:Coinbase cannot process this request.
It will not allow the upload of the pictures


Are you seeing the option to upload the license?

From one computer with Opera I got the option to upload a scanned drivers license but after that it wanted a selfie and that computer had no web cam. Another computer with Firefox I never got the option to upload an image.

I ended up using a Samsung tablet successfully by taking a picture of the license. This was yesterday morning.


Used my daughter MAC - got it done in one try.
Thank you guys :D :D
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Tue Jan 02, 2018

jcz1 wrote:
Bucketeer wrote:
My option is that you consider a hardware wallet called KeepKey. As long as you have a copy of your 12 work pass-phrase, you will always be able to recover your coins.


Is this 12-word pass phrase basically the same as a paper wallet? That would seem to be the only way you can recover your coins after losing the hardware, unless these hardware wallets are making backups on their own.


Any wallet has a 12 or 24 word backup phrase. I also have a cold wallet on my computer. I delete from the computer after I've made any changes. If I want to access it again, I download another copy and enter the phrse. Most also allow a QR load.

It is kinda scary the 1st time you delete your wallet, but it works.
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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Tue Jan 02, 2018

christostock wrote:So if someone wants to send me the very smallest amount of BTC possible to see if I can move it or trade it or anything then let me know what info you need from me to make that happen.


I'll send you some Chris, whats your address?

BTW, if you get this working, will you be offering Prospectors for Bitcoin? And open an account at Gemini.
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Re: The Bitcoin (crypto) Beginner's Guide

Postby joefro » Wed Jan 03, 2018

I have a question about fees. Does GDAX essentially pay for the transaction fees?

When I make a withdrawl of BTC/ETH/LTC from GDAX and send over to Bittrex, there is no fee. I always get the exact same amount of coins in my Bittrex wallet as I sent from GDAX.

However, to withdraw from Bittrex to a personal wallet, there are some significant fees which are different for each coin. Like for BCT there is a .001 BTC minimum fee which is currently around $15. The Bittrex FAQ states:

"each coin has a network transfer fee that is built into the coin. This means that we must charge a small amount to cover this fee. "

So why is it I can withdraw from GDAX with no fee but Bittrex "has" to charge significant fees?

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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Wed Jan 03, 2018

joefro wrote:I have a question about fees. Does GDAX essentially pay for the transaction fees?

When I make a withdrawl of BTC/ETH/LTC from GDAX and send over to Bittrex, there is no fee. I always get the exact same amount of coins in my Bittrex wallet as I sent from GDAX.

However, to withdraw from Bittrex to a personal wallet, there are some significant fees which are different for each coin. Like for BCT there is a .001 BTC minimum fee which is currently around $15. The Bittrex FAQ states:

"each coin has a network transfer fee that is built into the coin. This means that we must charge a small amount to cover this fee. "

So why is it I can withdraw from GDAX with no fee but Bittrex "has" to charge significant fees?


GDAX is currently giving you a gift of a free transaction. They do this assuming you've made trades on GDAX and paid fees (as the taker). They also make enough from the high fees they charge when people do market orders on Coinbase. I can see this sweet feature going away at some point for bitcoin (but maybe keeping all the other withdraws free on LTC, ETH, & B-cash). We'll see. Enjoy it while you've got it.
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