Pretty much all coins vary in value like stocks do. There is finite supply of coins based on mining, which is using processor power to solve pieces of the block chain which gets more difficult as it progresses. However no matter the amount of coins that are availible if they are not wanted then the price goes down.

Often times certain events influance the demand for the currancy. The reason it went down this time was due to a Coinbase announcement that they where not going to be allowing BCH trades for a specific period after the hard fork that happened just recently. A big BTC holder sokd off a shiload of coin which started it to drop and of course others started following suit and sold off their coin as well. There are also things like market corrections, people pulling out to invest in stock or alt coins and a bunch of other random shit. Some of which is predictable and others very much not so.

Hope that kinda sumarizes things.

Shouldn't that coinbase announcement help BTC as it's a substitute for BCH?

The cryto world is even more fickle then the actual stock market. CoinBase is one of the biggest market places / sellers of crypto so it put a lot of people on edge. Been downward a lot since then.

I noticed my wallet went down a couple days ago, the pound happened to drop at the same time, is this just purely coincidental?

Supply and demand. Not being short here but every price comes down to that.

OK what determines supply and demand?

Supply is limited by mining difficulty so it's always growing at a slower rate. Basically coins are getting harder and harder to mine.

So the bitcoin value should be increasing not decreasing?

Demand is another matter, who buys bitcoins? Besides biggaz? Speculators, "fin-tech" traders of every size and shape but they all look for one thing: a quick profit. Their dealings amongst themselves is all game theory and meme-pumping. So lots off ups and downs.

This is why the long term trend is up. The way this mob looks at things is "asset classes" and "exposure". Once the portfolio managers have permission from their elders crypto is declared an asset class. Then the managers are actually required to have exposure to it.

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This can happen a lot on coinbase. Good platform to buy but maybe send and store you coins somewhere else, ready for that last minute order haha! I use a website to store my coins that pays me 4.08% interest annually and I get free satoshis every hour. I hold here as it’s cheaper to send too, can be slow but have different options. Message if you want a referral link, you only need an email address. I’ve been using it for about 3 years now with no problem.

Coinbase has imposed a 3 day delay on me (so no LB purchases). The company I used to use won't let me buy any BTC but I can send from there so I send the BTC from COINBASE to myself at the other site. 3 days passes and then I place my order on LB. easy as 1-2-3

Depends on the status of your bitcoin transaction. Highly likely Coinbase will show confirmation of the transaction in which case it's not going to be a problem even if its expired on lb, contact the seller as soon as you have a blockchain confrimation url. If it can't be confirmed coinbase will return coins to you so either case it's not to worry.

Got confo from Coinbase, just contacted Mr Coffee. Hope this goes well, as it is 1st time through btc

If you have a confirmation url it's impossible to go wrong. It's like the system works on the same info you have, that's the beauty of btc versus the banking system.

Well it's been 4 days now and I am still waiting confirmation by seller. These bitcoins are really convenient e? NOT!!

If you did the transaction directly from coinbase then they are banning you. You should have transferred your coin to a wallet first and then do the transaction from there. Coinbase is for buying and selling of bitcoin itself, it is not a platform for buying and selling goods with bitcoin, especially the kind of goods sold here. That is how I got banned. Now I use Gemini to buy bitcoin and Blockchain as my wallet.

True this and if he is going to bitch he should follow up and let us know how it resolved.

It's ok, I try to help people any way I can. I'm not privy to orders though and can't really say much that helps. My experience is that everyone is sorted around here. One thing though - I'm not a guy ;)

How long does it take to cross check? It is already 48 hours and I am still waiting...

Give these guys a try, a legit operation that isn't fucked in the head like coinbase, and takes credit cards. Make sure you buy bitcoins aka bitcoin core, not "bitcoin cash" which is a newer currency not so widely accepted yet.

All the replies to your question have confused me even more, I have no clue what a digital wallet is, what bitcoins are or how to transfer stuff digitally! I’m totally fucked!

Thanks but :(

I think the consensus has been that Coinbase is easiest for beginners. But, once you have purchased your bitcoin, do not send it directly to vendor from Coinbase or they will ban you. You have to transfer your bitcoin to a digital wallet. It is from there that you make purchases to a vendor. The wallet i use is called Blockchain.

Yes if you are going to use a bank account coinbase is easy. I don't know about them banning biggaz, I haven't ever had the problem but they aren't exactly crypto woke, they want to be jp morgan when they grow up.

If you want to use a card instantbit.co is fast and not much of a hassle. Otherwise send a message to bit easy really, she will help you individually if you need it.

If you are in a major metro, a btc atm & a btc wallet app on your phone is the simplest

Hit up bit easy really she really helped me out.

One of the best people here.

Here is an interview with the founding father

So a perfectly corrupt society then

That's the thang, it's not corruption it's straight up.