Author Topic: Crypto currency and using your credit card to buy it!  (Read 852 times)

Offline uflitgator

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Crypto currency and using your credit card to buy it!
« on: November 24, 2017, 11:57:43 AM »
 Has anyone here dabbled in the crypto currency? Bitcoin etc.?  The website coinbase.com will allow you to buy crypto currency through your checking account and also through your credit card. The credit card purchases are limited at first but eventually they allow you to increase your limits. Anyone thought of this as a way of also building points?

I'm surprised no one is talking about this on the forums.

 When your credit card is charged it is charged as a purchase and not as a cash advance. Any thoughts?

Offline LoLo

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Re: Crypto currency and using your credit card to buy it!
« Reply #1 on: November 24, 2017, 12:06:14 PM »
3.99% is not exactly what people here are paying for MS.

Offline ludmila

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Re: Crypto currency and using your credit card to buy it!
« Reply #2 on: November 24, 2017, 12:32:22 PM »
There is a very wide spread between buy and sell, plus Bitcoin is in Tulip mania territory, up from $890 to $8230 in 7 months, if there is a mania waiting for the bubble to burst , this is it. Those who both early and are selling at the current prices made a fortune, those who stay in and or buy now are flipping a coin for a little more upside, but when -not if- the bubble bursts ------.
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Offline ludmila

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Re: Crypto currency and using your credit card to buy it!
« Reply #3 on: November 24, 2017, 12:33:18 PM »
3.99% is not exactly what people here are paying for MS.
By the way, are they charging credit card fees as @ LoLo noted?
I was the Best,still the Best, and will always be the Best.
Pele Good,Maradona Better, George Best.

Offline eli232

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Re: Crypto currency and using your credit card to buy it!
« Reply #4 on: November 24, 2017, 02:26:00 PM »
There is a very wide spread between buy and sell, plus Bitcoin is in Tulip mania territory, up from $890 to $8230 in 7 months, if there is a mania waiting for the bubble to burst , this is it. Those who both early and are selling at the current prices made a fortune, those who stay in and or buy now are flipping a coin for a little more upside, but when -not if- the bubble bursts ------.
you sound like you know.....some analysts say it will go up to $20,000 not exactly "a little more upside"

Offline ludmila

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Re: Crypto currency and using your credit card to buy it!
« Reply #5 on: November 24, 2017, 11:03:44 PM »
you sound like you know.....some analysts say it will go up to $20,000 not exactly "a little more upside"
No one knows the exact price when a bubble bursts, sure can go up much higher,this is a classic mania,  if analysts know they will not be analysts, they will be enjoying life in Monaco or the French Riviera sipping cocktails :)
I was the Best,still the Best, and will always be the Best.
Pele Good,Maradona Better, George Best.

Offline Boruch999

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Re: Crypto currency and using your credit card to buy it!
« Reply #6 on: November 25, 2017, 01:25:19 PM »
No one knows the exact price when a bubble bursts, sure can go up much higher,this is a classic mania,  if analysts know they will not be analysts, they will be enjoying life in Monaco or the French Riviera sipping cocktails :)

+1k

Offline emjee

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Re: Crypto currency and using your credit card to buy it!
« Reply #7 on: November 25, 2017, 05:09:50 PM »
@uflitgator it is definitely not worth it mainly because of the 2 points Lolo and ludmila mentioned. Spending 3.99% is waaay to much even if needed ad like ludmila mentioned; coinbases final price on the buy/sell is a rip off. Coinbase is definitely not good for MS but is great to use if you're willing to trade crypto with borrowed money (cc company). If you're gonna use coinbase even just to get in the crypto trading game, atleast transfer your funds over to gdax so you dont get robbed on every transaction.
@ludmila , you might be right about the second half of your comment in some aspect but IMHO you need to get a little more educated on the subject

Offline ADG

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Re: Crypto currency and using your credit card to buy it!
« Reply #8 on: November 27, 2017, 05:58:10 PM »
more educated on the type of cocktails ppl drink in monaco?

Offline ludmila

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Re: Crypto currency and using your credit card to buy it!
« Reply #9 on: November 27, 2017, 11:28:15 PM »
From July , in 4 months it is up from $1900 to $9900, look at the chart below, and see the vertical line i drew, it entered a parabolic move on the weekly from $1900, now you just wait for the parabolic bubble to burst, will end up in tears to especially late comers, people will say it is different this time but it never is. P.S It is impossible to pick the exact top , it can run much higher from here to sucker in more new buyers while the hedgies who bought at much lower prices will be unloading to them and leave them holding the bag.  Read about the Tulip mania, check Nasdaq crash in 2000.

https://www.tradingview.com/x/onvzmNDw/


« Last Edit: November 27, 2017, 11:32:42 PM by ludmila »
I was the Best,still the Best, and will always be the Best.
Pele Good,Maradona Better, George Best.