@elam18 it sounds like you are likely mining very very VERY small amount of BTC. BTC has been shit lately with transaction delays and fees. Any wallet with a balance of under $20 is basically a dead wallet as it would cost >50% of your balance just to transfer out if you can even do it. Hopefully they resolve the issues. You should look into mining ethereum as the tx fees are reasonable and you can likely mine much more reasonable amounts with whatever you are using.
I’m too poor to build a fancy mining computer… that’s why i do VERY VERY VERY VERY small mining on a basic computer
@elam18 Yeah the point wasn’t to talk down on what you are doing… just maybe to steer you towards something more reasonable. Look at altcoins or at least LTC or ETH. That way you can actually transfer and play around with what you mine.
BTC just costs too much to work in such small amounts. I guess that could resolve itself over time, but I’m not convinced they will resolve it.
Since you are in the US the easiest way to convert BTC to USD is via Coinbase / GDAX. They are essentially the same thing, Coinbase is the consumer friendly version and GDAX is the exchange that runs behind it. The general steps are:
- Setup a Coinbase account and link it to you bank account. This will automatically setup a GDAX account for you.
- Transfer BTC from your current wallet to your GDAX wallet
- Then you can sell your BTC for USD on GDAX
- Once you have USD you can either wire from GDAX to your bank account or transfer to Coinbase and then to your bank account
Couple of things to know:
- When you setup Coinbase / GDAX make sure you enable 2 factor auth via an app like Google Authenticator (don’t use SMS)
- Coinbase has higher fees than GDAX since it is more consumer friendly and also FDIC insured for cash holdings
- Depending on how much you have, there may be daily limits that you will have to work around
- Sometimes there are multiple ways to get from A to B but some paths incur more fees than others so be aware of this
You can search YouTube for pretty much any step of this process and find multiple tutorials / walkthroughs.
P.S. - None of this is financial advice and my steps may be wrong / outdated. It’s just a general outline. Make sure you research each step before proceeding. Good luck!
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So I invested in bitcoin and litecoin back when it was $14k, now it’s $7k… and I have to pay my bills. Should I see some of my bitcoin or wait it out?
No one will be able to predict whether or not the crash is over or not. You should not have invested money you need for bills in the first place, though. Only invest what you can afford to lose. If you believe it’s going to crash further, or even stay down forever, then just cash out. You can always re-buy if it keeps going lower. But if you believe the crash is over, and it’ll rise again now, then hold onto it.
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Help I took out a home equity loan and cashed out my 401k and kids’ 529 plans and invested the majority of it in bitcoin when it dropped to 14k (reddit said it was a hard floor and indicated a quick rebound was inevitable, there was also a bunch of technical analysis graphs that showed strong indicators of a huge incoming spike) and the rest (plus some more on margin) yesterday before market close in 3x leveraged ETFs that are bearish on the DJIA. I’ve received 17 calls today from my broker but haven’t answered any of them as I think they’re trying to margin call me but I don’t have any additional funds. My wife and six kids don’t understand why I’ve been locked in my bedroom for the past 8 hours and I don’t have the nerve to tell them what’s up. I’ve got a friend in Mexico that can guarantee me a job on an avocado farm if I want to cut and run and leave this all behind. I honestly don’t think I’ve been this depressed and anxious since 1998, when The Undertaker threw Mankind off Hell In A Cell, and plummeted 16 ft through an announcer’s table.
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This is art!
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@smpratte recently said “So if you want risk-less investing, go buy some groceries”.
Instructions unclear.
Sold BTC, bought groceries. Sitting on $7k in perishable food goods mostly milk as that seemed a solid buy at $1.58 a gallon at Wal Mart.
What do?
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Damn this took me back for a second
I miss that match
I should rename this thread ‘crypto’ … we haven’t talked about litecoin for ages 
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Bears make money
Bulls make money
Hogs get slaughtered
I feel like I have heard this before… Could you explain what it means? Sorry, I am pretty dim when it comes to words and stuff.
Jim Cramer says it. It doesn’t apply in this situation, but it means “know when to be satisfied with what you have earned.”
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Anyone split off their litecoin cash yet? For anyone unaware there was a fork in the litecoin chain yesterday. Every LTC holder got 10 LCC for each 1 LTC. LCC is currently $5.52 as I type so it is a fairly significant boost in value to any owners of litecoin given that each LTC is ~$225 and generated what is now worth $55 in LCC each.
I’m invested in lite coin on Coinbase. How do I go about finding my LCC now?
Unfortunately unless you have the keys for your litecoin you don’t AFAIK. Your only choice to get them I believe would be for coinbase to add litecoin cash functionality down the line and then they should credit them to your account as they did with bitcoin cash. As with bitcoin cash though it could be a ways down the line before they add the functionality. Or like bitcoin gold they may never recognize the fork and may never add functionality it is really hard to say.
I could be wrong, but everything I have ever read has said to ensure all your coins are in a wallet whose seed/key you control pre fork so that you can split the new coins off after the fork.
Is there a wallet you guys recommend?