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The Bubbly Bitcoin Thread -- Merged Threads


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Over 2 days, I was fobbed off by NatWest as I sought answers to their actions I.e. declined payments to Kraken.  All responses by reps stuck to the script despite my insistence that they provide evidence why Kraken was in the frame.  Anyway, to cut a long story short, whilst following up my complaint 'live', I  thought I'd give it another try (4th attempt to transfer over 2 days) and it was no longer blocked.

 

I asked NW why payments were not declined.  Of course they've not been able to tell me.  I'm hoping that the flag was removed owing to the numerous challenges I made but somehow I doubt it. 

 

My work around was via Monzo which was a pain but at least this option remains, for now, should I again have problems. 

 

The only irritation was that BTC climbed by a few grand as I attempted to make a second transfer but hey, ho, it's only a rounding error, right? 

 

Edited by Buffer Bear
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4 hours ago, Buffer Bear said:

The only irritation was that BTC climbed by a few grand as I attempted to make a second transfer but hey, ho, it's only a rounding error, right? 

When I first bought in 2013 the price rose by 30% or so in the 2 days it took my SEPA payment to go though to bitstamp.

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On 26/07/2021 at 15:53, yelims said:

Got my nuri (German Solaris bank) card today

App is very nice, basically revolut with a German iban (tested and can send receive sepa in anything from few seconds to few hours depending on other sepa bank),

German guarantee up to 100k euro,

visa debit with same controls like revolut 

buy and sell bitcoin/ether from app,

send/receive coins to any of wallets (classic you own keys and custodial which is same as coinbase wallet)

Savings account (via Celsius?) with 5% interest for your crypto 

Reports for crypto tax calculation

 

overall quite impressed, tho one might need to be an Eu citizen 

 

basically the best of bank account, private wallet where you own key, coinbase and revolut all in one

Be careful of Celsius?  Always seeing digs on twitter re: risky business model and stuff.

On 26/07/2021 at 18:12, lombardo said:

Watch his shows, but remember that Tone Vays is an utter moron.

I don't disagree.  Posted for the visual rather than his view. 

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3 hours ago, goldbug9999 said:

Timing tops and bottoms with bitcoin is hard.

Impossible I'd say. I find it quite funny (in an annoying way) that between Saturday when I thought about it, and today when I might actually get round to topping up, it's gone up by £5 grand.

Oh well, the last time I bought BTC they were around £350 so I won't get too annoyed. Recently been scratching that ETH itch though so I might do that one instead again this month.

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11 hours ago, Huggy said:

Impossible I'd say. I find it quite funny (in an annoying way) that between Saturday when I thought about it, and today when I might actually get round to topping up, it's gone up by £5 grand.

Oh well, the last time I bought BTC they were around £350 so I won't get too annoyed. Recently been scratching that ETH itch though so I might do that one instead again this month.

Luckily, I got in at 25kish before jumping in at 28k (issues with NatWest) before it fell (amazon denial) and then rose again.  Tbh, i'm not concerned with the day to day movement but I was waiting to at least see the direction of travel.  Although, we cant necessarily be certain it is about to enter another bull-run, I decided not to wait any longer as it seems to be on sale (and much lower than my highest purchase) although it must seem overpriced to a £350 purchase! Wow, just wow! 😳😁

Edited by Buffer Bear
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It's happening:

 

PayPal’s crypto ‘super app’ set to roll out soon 

Dan Schulman said the project was already “code complete” and planned to be fully ramped in the United States in the next several months.

Payments provider company PayPal said its users may not have much longer to wait to have greater crypto functionality through the platform. 

During PayPal’s Q2 2021 investor update call on Wednesday, CEO Dan Schulman saidthe initial version of the company’s super app wallet was “code complete.” The PayPal CEO said the company planned for the wallet to be fully ramped in the United States in the next several months.

The super app wallet will feature high yield savings, early access to direct deposit funds, messaging capability, “additional crypto capabilities” and more. Schulman said each wallet would be “unique, driven by advanced AI and machine learning capabilities.”

PayPal reported that it had more than 400 million active user accounts as of June 30, with $311 billion in total payment volume for the second quarter of 2021. Venmo, the PayPal-owned payments firm, which launched crypto trading in April, had roughly $58 billion in total payment volume for the second quarter of 2021, with 76 million active accounts.

“We’re one of a few payments companies to allow consumers to use cryptocurrency as a funding source,” said the PayPal CEO. “We’re also seeing strong adoption and trading of crypto on Venmo.”

Related: PayPal users will be able to withdraw crypto to external wallets

Earlier this month, PayPal announced it would be increasing the limit on crypto purchases for certain users based in the U.S. from $20,000 to $100,000. The payments firm initially said it would be entering the crypto space in October 2020, later allowing eligible customers to use crypto for trading and payments.

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Just now, fatspanner said:

Does anyone have any experience of earning interest on your crypto. 

I'm considering investing some at https://nexo.io/ with a 6% return paid daily. 

@MonsieurCopperCrutchdid you mentioned you have a little staked somewhere? 

 

Indeed I do. I've had some spare Bitcoin earning interest on Abra for over a year now. Rate was about 5% when I started however they have reduced it since. Never had an issues and they have always paid the interest accrued every Monday. 

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19 minutes ago, fatspanner said:

Does anyone have any experience of earning interest on your crypto. 

I'm considering investing some at https://nexo.io/ with a 6% return paid daily. 

@MonsieurCopperCrutchdid you mentioned you have a little staked somewhere? 

 

Blockfi has been good for me, although they have cut their rates recently. I also use crypto.com, mainly for their 3% cashback card and other benefits but they have decent rates if you have a certain amount of CRO staked with them. I'm getting 6.5% with them on BTC and 12% on stablecoins. 

Would never tie up all my crypto in one place but its worth putting some of your coins to work and earn interest while its there. 

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7 hours ago, warpig said:

I'll be a buyer again around $35,500

But it was lower than that last week so why didn’t you buy then?

I bought a bit  more at $30k (although my purchases earlier in the year at $42k are still underwater)

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4 minutes ago, Salty1 said:

Is interest from these platforms paid in fiat or crypto?  How do you declare it for tax?

How does their business model work?  6% / 12% is really high - how do they manage to pay that?

In Abra I elected to take the interest paid back directly into my Bitcoin account. I believe that you can choose your returns in either fiat or Bitcoin. 

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5 hours ago, Glenn said:

Blockfi has been good for me, although they have cut their rates recently. I also use crypto.com, mainly for their 3% cashback card and other benefits but they have decent rates if you have a certain amount of CRO staked with them. I'm getting 6.5% with them on BTC and 12% on stablecoins. 

Would never tie up all my crypto in one place but its worth putting some of your coins to work and earn interest while its there. 

I have steered clear of staking, as I cannot understand the business case that supports paying interest at these levels.

E.g what is the money generating activity that supports paying 12% interest on a stablecoin.   

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3 hours ago, scottbeard said:

But it was lower than that last week so why didn’t you buy then?

I bought a bit  more at $30k (although my purchases earlier in the year at $42k are still underwater)

Have you seen the price in the last hour or two?

 

Will we get to $42k I ask?  This seems to be the key level to move further up...

1 hour ago, Confusion of VIs said:

I have steered clear of staking, as I cannot understand the business case that supports paying interest at these levels.

E.g what is the money generating activity that supports paying 12% interest on a stablecoin.   

Same here - counter-party risk. 

 

There is always talk about what is actually backing Tether, Celcius etc.  Sounds risky given what can be lost.

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