Quote from: TinaK on September 28, 2014, 02:53:52 PM

Quote from: Nrcewker on September 28, 2014, 09:40:49 AM

Quote from: hopefull on September 27, 2014, 04:10:18 AM

Hello all, I have run so bad in finances that me having bought a large volume of bitcoins this entire week might doom you all.
This is my first post so let me introduce myself, I am a construction bussiness owner that in the last 10 years has lost about 20 million in the stock market, I also lost roughly 7 million in my other hobby no limit poker. I am so unlucky that me using Coinbase this entire week to accumulate 500 Bitcoins can't be good, odds of me winning in this gamble are astronomically rare, just so you know my average has been $418 this week, I also own a small amount of bitcoin bought a few months ago at $644 and that didn't go well. Good luck and prove me wrong!

Yes, luck is part of the strength. But, a good beginning is half the battle , this is where you make a mistake.

In fact, Coinbase is not a true Exchange, it's a changer just like okpay, bitpay, egopay, etc. You buy bitcoins on Coinbase that itself cost your extra more fee, and you can't do some decent trading on it.

The other hand, there is a tradition on Coinbase, do you know? Whenever there is a greater volatility in Bitcoin price, they will prohibit you buy/sell bitcoins on Coinbase, until the price recover smooth. Oh fuck, if it would not allow us doing business when the price changes, how to make money?

So you want to make money with Bitcoin, firstly you have to choose a Bitcoin Exchange. Usually, Exchange charge fees 0.1% - 0.5%, but changers would charge a fee at least 1%, common 2%, even I had seen 7% on some changers.

I suggest you go the following exchange:

1. LakeBTC https://www.lakebtc.com/, best for North American and China users, but more suitable for bulk trading, and it's difficult to ensure profits of retail trading users.
2. Bitstamp https://www.bitstamp.net/, best for Europe users, but their KYC verification is annoying and slightly higher fee compared to other exchanges.
3. Btc-e https://btc-e.com/, Except Bitcoin, if you want to trade another crypto-currency, btc-e is best.

More Bitcoin Exchange list you can see here: https://bitcointalk.org/index.php?topic=695082.0

Sometimes Bitstamp fee is cheaper than LakeBTC, but it's at least 0.2% however LakeBTC minimum fee can be 0.1%. And that KYC verification of Bitstamp is very annoying, this is why that I never use Bitstamp.

$200,000 is a critical point, you should trade on LakeBTC within 30 days of the trading volumeis not less than $200,000, or else you can consider Bitstamp.

500 Bitcoin is now about $200,000, I suggest not to sell now, although it can not guarantee the return to $700/btc, but $500/btc is certain.
And as Nrcewker said that don't buy Bitcoin on coinbase again that so would only unnecessary cost, and to select an Exchange right.

Come on! Preparing your spacesuit, see you next year at the moon!