Hey to all. Since around 2 months, I am with 99bitcoins reading and getting info and I am very happy here, thanks for a good site. For my bad luck I did not check here for a review of coinbase, I would have save a lot of worthless time. To tell the truth, I hope there is a internet god out there and shut them down. I did not know about their support in US, but as I read the first reviews here, it seems they make themselves a pretty bad place there too. I am located in the D.R.,… Read more »
While it’s very easy to buy Bitcoins - there are numerous exchanges in existence that trade in BTC - other cryptocurrencies aren’t as easy to acquire. Although, this situation is slowly improving with major exchanges like Kraken, BitFinex, BitStamp and many others starting to sell Litecoin, Ethereum, Monero, Ripple and so on. There are also a few other different ways of being coin, for instance, you can trade face-to-face with a seller or use a Bitcoin ATM.
This flexibility makes Ethereum the perfect instrument for blockchain -application. But it comes at a cost. After the Hack of the DAO – an Ethereum based smart contract – the developers decided to do a hard fork without consensus, which resulted in the emerge of Ethereum Classic. Besides this, there are several clones of Ethereum, and Ethereum itself is a host of several Tokens like DigixDAO and Augur. This makes Ethereum more a family of cryptocurrencies than a single currency.
NO WAY. How do some many people trust Coinbase with their money When their website’s software is full of faulty programs that they won’t or can’t fix. IE, I tried to add a new debit card to my account. I gave them my cards info and was told to check my account for two small charges made by coinbase and enter the amounts in a designated page. Both amounts were over $3.00, but the verification page only allowed me to submit amounts under $2.00. I was never able to add another card to my account. For me, no big deal,… Read more »
Essentially, if you are interested in trading in digital currencies but don't want to get bogged down in the underlying technology, products like Coinbase are a way to begin a foray into a new form of currency speculation and investing. You do, however, lose some of the advantages of trading in a cryptocurrency and through the blockchain. On Coinbase, you have no pseudo anonymity—your name is attached to your Coinbase account and so is your bank account, so transaction history is relatively easy to track down. And if you're not working on the blockchain, there's not much you can do to ensure that the verification of your transaction history or your account is taking place on the blockchain. You are, instead, placing trust in the intermediary, in this case, Coinbase.
Transactions that occur through the use and exchange of these altcoins are independent from formal banking systems, and therefore can make tax evasion simpler for individuals. Since charting taxable income is based upon what a recipient reports to the revenue service, it becomes extremely difficult to account for transactions made using existing cryptocurrencies, a mode of exchange that is complex and difficult to track.