LiteCoin

Discussion of all things crypto and blockchain.
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texmex66
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Re: LiteCoin

Postby texmex66 » Fri Jan 05, 2018

LTC getting its groove back. :pop:

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Double3
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Re: LiteCoin

Postby Double3 » Sat Jan 06, 2018

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texmex66
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Re: LiteCoin

Postby texmex66 » Sat Jan 06, 2018

texmex66 wrote:Visa suspends some crypto cards. Paving the way for LTC? :pop:

https://cointelegraph.com/news/visa-sus ... edit-cards


Didnt see Bitpay in first article, but it is affected by Visa suspension. See other article.

https://cointelegraph.com/news/bitpay-i ... ds-pending :pop:

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texmex66
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Re: LiteCoin

Postby texmex66 » Thu Jan 11, 2018

Bought some LTC on Coinbase. Will be delivered in 9 days................. :shock:

They are shaking the trees trying to get people to sell, doesn't appear to be working. :D

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300Braveheart
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Re: LiteCoin

Postby 300Braveheart » Thu Jan 11, 2018

It's amazing that ETH set up a "You Shall Not Pass!" wall around $1,150, when it made it's all-time-high moves in the last few days. LTC has been to $400+, and it still has it's "You Shall Not Pass!" wall around $200.
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Re: LiteCoin

Postby cmiller17363 » Thu Jan 11, 2018

I guess it means "buy me now!" :pop:
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Re: LiteCoin

Postby Silver Addict » Thu Jan 11, 2018

texmex66 wrote:Bought some LTC on Coinbase. Will be delivered in 9 days................. :shock:

They are shaking the trees trying to get people to sell, doesn't appear to be working. :D


Mine always tells me 7 days, but always shows up on the 6th day. Must need the 7th day for rest after all that work...

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texmex66
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Re: LiteCoin

Postby texmex66 » Thu Jan 11, 2018

Silver Addict wrote:
texmex66 wrote:Bought some LTC on Coinbase. Will be delivered in 9 days................. :shock:

They are shaking the trees trying to get people to sell, doesn't appear to be working. :D


Mine always tells me 7 days, but always shows up on the 6th day. Must need the 7th day for rest after all that work...


Yep use to be 7 days now 9. They dont have the cryoto. Why else would it take 9 days? Whatever reason or excuse someone may come up with i wont believe it. Coinbase is running the equivelent of a ponzi scheme IMHO. Need to be careful. Note to self. :shifty:

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SilverDoge
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Re: LiteCoin

Postby SilverDoge » Thu Jan 11, 2018

texmex66 wrote:
Silver Addict wrote:
texmex66 wrote:Bought some LTC on Coinbase. Will be delivered in 9 days................. :shock:

They are shaking the trees trying to get people to sell, doesn't appear to be working. :D


Mine always tells me 7 days, but always shows up on the 6th day. Must need the 7th day for rest after all that work...


Yep use to be 7 days now 9. They dont have the cryoto. Why else would it take 9 days? Whatever reason or excuse someone may come up with i wont believe it. Coinbase is running the equivelent of a ponzi scheme IMHO. Need to be careful. Note to self. :shifty:


I highly doubt Coinbase is running a ponzi scheme. They have been around for years now. They store the crypto in offsite cold storage - to ensure that clients have as little risk as possible of theft. Also, they don't want to get ripped off. They have to deal with banks in the real world - not just crypto. Banks can undo fraudulent transactions and then Coinbase is left holding the bag when you run away with the crypto. Crypto is non-reversable on purposes so any exchange offering fiat-crypto conversion HAS to take reasonable measures to not get ripped off.

Either have patience, or use a credit card and pay the higher fees. Please don't make these false claims about the companies who are trying to make an effort to follow all the burdensome US regulations, and have fiat-crypto conversions as easy as possible for new people. Unless you have evidence to make these claims, you are just spreading unnecessary FUD.
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texmex66
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Re: LiteCoin

Postby texmex66 » Thu Jan 11, 2018

SilverDoge wrote:
texmex66 wrote:
Silver Addict wrote:
texmex66 wrote:Bought some LTC on Coinbase. Will be delivered in 9 days................. :shock:

They are shaking the trees trying to get people to sell, doesn't appear to be working. :D


Mine always tells me 7 days, but always shows up on the 6th day. Must need the 7th day for rest after all that work...


Yep use to be 7 days now 9. They dont have the cryoto. Why else would it take 9 days? Whatever reason or excuse someone may come up with i wont believe it. Coinbase is running the equivelent of a ponzi scheme IMHO. Need to be careful. Note to self. :shifty:


I highly doubt Coinbase is running a ponzi scheme. They have been around for years now. They store the crypto in offsite cold storage - to ensure that clients have as little risk as possible of theft. Also, they don't want to get ripped off. They have to deal with banks in the real world - not just crypto. Banks can undo fraudulent transactions and then Coinbase is left holding the bag when you run away with the crypto. Crypto is non-reversable on purposes so any exchange offering fiat-crypto conversion HAS to take reasonable measures to not get ripped off.

Either have patience, or use a credit card and pay the higher fees. Please don't make these false claims about the companies who are trying to make an effort to follow all the burdensome US regulations, and have fiat-crypto conversions as easy as possible for new people. Unless you have evidence to make these claims, you are just spreading unnecessary FUD.


All IMHO. I have plenty of patience HODLing LTC. :pop:

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BarsandStars
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Re: LiteCoin

Postby BarsandStars » Thu Jan 11, 2018

texmex66 wrote:
Silver Addict wrote:
texmex66 wrote:Bought some LTC on Coinbase. Will be delivered in 9 days................. :shock:

They are shaking the trees trying to get people to sell, doesn't appear to be working. :D


Mine always tells me 7 days, but always shows up on the 6th day. Must need the 7th day for rest after all that work...


Yep use to be 7 days now 9. They dont have the cryoto. Why else would it take 9 days? Whatever reason or excuse someone may come up with i wont believe it. Coinbase is running the equivelent of a ponzi scheme IMHO. Need to be careful. Note to self. :shifty:


LOL I bought my first crypto (a WHOLE LITECOIN :shock: ) last Saturday and was told it would be in my wallet this Saturday. What kills me is the USD funding. They pull that crap out of your bank account, then dont' make it available for 7 freaking days. Ponzi bastards! :lol:


Also, how do you buy crypto with a credit card? I added my card yet I cannot figure out how to use it as a funding source. I want cabelas points!
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Re: LiteCoin

Postby Bucketeer » Thu Jan 11, 2018

Part of the reasons for delays is because of credit/debit card users, and the possibilities of charge-backs. Purchasing from a checking account speeds-up the process.
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natsb88
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Re: LiteCoin

Postby natsb88 » Thu Jan 11, 2018

Bucketeer wrote:Part of the reasons for delays is because of credit/debit card users, and the possibilities of charge-backs. Purchasing from a checking account speeds-up the process.

Although the part about chargebacks is true, I don't think using a checking account is any faster.

Credit card shows LTC available instantly for me. Checking account takes 8 days.

If your Coinbase account is new and/or you haven't made many Coinbase purchases with the credit card, then maybe there is a delay for credit cards? It could also depend on how much account verification you have done.

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texmex66
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Re: LiteCoin

Postby texmex66 » Thu Jan 11, 2018

Bucketeer wrote:Part of the reasons for delays is because of credit/debit card users, and the possibilities of charge-backs. Purchasing from a checking account speeds-up the process.


You would think there would be more fraud with credit cards than checking accounts. I have both set up, dont want to pay any more fees than i have to so, use checking acct. Been with Coinbase since day 1, they have all my info and pic id but still treat me like a newb. :thumbdown:

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Bucketeer
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Re: LiteCoin

Postby Bucketeer » Thu Jan 11, 2018

CoinBase sucks. I have a Gemini account but I've never used it, I've heard nothing but good comments about them.

I emailed CoinBase this morning about an account discrepancy. I believe I'm short about .8 BCH on their books. I expect it will take a week for a reply.

Good post Nate. When I started with CoinBase, they really didn't like credit card transactions. I guess they figured out how to make it work for them.
Last edited by Bucketeer on Thu Jan 11, 2018, edited 1 time in total.
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BarsandStars
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Re: LiteCoin

Postby BarsandStars » Thu Jan 11, 2018

Bucketeer wrote:Part of the reasons for delays is because of credit/debit card users, and the possibilities of charge-backs. Purchasing from a checking account speeds-up the process.


Nope. I did it as an ACH, still told a week. I also deposited funds via bank account....7 days despite them immediately pulling it out. There's no reason it should take 7 days for funds to hit a USD wallet when they pull them out instantly.
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texmex66
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Re: LiteCoin

Postby texmex66 » Thu Jan 11, 2018

Bucketeer wrote:CoinBase sucks. I have a Gemini account but I've never used it, I've heard nothing but good comments about them.

I emailed CoinBase this morning about an account discrepancy. I believe I'm short about .8 BCH on their books. I expect it will take a week for a reply.

Good post Nate.


I was excited about Gemini, heard good things. When i set up my account found out they dont do biz in AZ. :(

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Silversaving
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Re: LiteCoin

Postby Silversaving » Thu Jan 11, 2018

God...those CB fees :sick:

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Bucketeer
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Re: LiteCoin

Postby Bucketeer » Thu Jan 11, 2018

Well, it's CoinBase. Sometimes I've had it work within a day, but other times it has taken a week.

I'm currently cash-poor, and Bitcoin rich. I'm not going to buying anything, but if I was in the market, I''d go to Gemini and see how they roll. I read a lot of different forums about Bitcoin, and I've never heard a bad comment about them.
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Re: LiteCoin

Postby natsb88 » Thu Jan 11, 2018

BarsandStars wrote:I did it as an ACH, still told a week. I also deposited funds via bank account....7 days despite them immediately pulling it out. There's no reason it should take 7 days for funds to hit a USD wallet when they pull them out instantly.

The money leaving your account immediately doesn't mean Coinbase gets it immediately. An ACH authorization only verifies that the routing and account number are valid, it does not know if the funds in the account are sufficient to cover the payment. An ACH usually isn't processed until the following business day and can be denied by the bank like a non-sufficient-funds check. It can take 3-5 more business days for the bank to determine this and propagate the NSF back to the merchant. So if you initiate an ACH deposit to Coinbase and don't have enough in your checking account to cover it, Coinbase might not find that out until a week later. Hence the delay. Buyers can also attempt to dispute an ACH with their bank by claiming they did not authorize it, and there is no shortage of people looking to scam crypto any way they can. So Coinbase is very careful to cover their butts with clearing times and buying/selling limits that gradually increase as you provide more ID confirmation and establish a good account track record.


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