Complete crypto noobie here

girlDog
girlDog

complete crypto noobie here

whats the best resource to learn from scratch? Googling now to hop on the normie bubble.

Also, I don't have to pay for my electricity and have a great CPU / GPU. Should I mine ETH, and if so how?

All urls found in this thread:

comfycrypto.wordpress.com/2017/04/24/fueling-the-rocket-getting-started-with-crypto/

w8t4u
w8t4u

crypto are in a massive bubble right now

its not a good time to get in m8

lostmypassword
lostmypassword

Everything is fucking crashing. Come back next week

Deadlyinx
Deadlyinx

as a long term investment i think it makes sense.

from my limited understanding, it has features that make it desirability compared to other types of money

i dont think crypto is going away 10 years from now, i think its a solid long term play

Sir_Gallonhead
Sir_Gallonhead

Use a service like Coinbase (available as phone app) to turn a tiny bit of money into BTC and then make an account on Bittrex.com and just do some super small-time trading to get a feel.

Half the people on this board just get crazy hyped when they see the potential for big bux and they throw too much of their money into a coin exclusively based on that a /biz thread said it was gonna 100x by tomorrow. Then they get upset when they fuck it up.

Going through the process from the start, doing some trading, and then also reading into the websites of these various coins will start to give you an idea of what is happening here.

MPmaster
MPmaster

jesus christ, someone on this board who isnt an idiot... youre gonna do good, newbie

farquit
farquit

Don't listen to them, the prices are low now so is a great time to buy

Use blackfolio to track your holdings and transactions

5mileys
5mileys

Got it, makes sense.

I'm going to read up on ETH mining, is there any downside? I'm not paying for electricity and have a strong CPU.

idontknow
idontknow

also isnt coinbase a meme? should i try to get on gemini

CouchChiller
CouchChiller

Mining in general, particularly for big coins like ETH, is not very profitable anymore.

But there's no downside to it, and you would learn a lot about the technical side of the transactions: blockchain.

Booteefool
Booteefool

the prices are low
what are you basing this on you retard

i see teenagers on music forums shilling for ethereum and normie friends are talking about bitcoin which is a good sign of a bubble

its time to get the fuck out ASAP

Deadlyinx
Deadlyinx

is that really a sign of a bubble? that just seems like demand is growing and may go exponential

internet stocks had bubbles along the way, but over the LONG term (10-20 years) it was a superior technology and was a wise investment.

CodeBuns
CodeBuns

All of this depends on how much you're planning on spending, how long you're willing to wait, how deeply you're willing to verify your personal identity, and if you're afraid of the IRS watching you buy it.

There are plenty of ways to buy bitcoin.

5mileys
5mileys

whats the best resource to learn from scratch?

Reddit. You should also know whether you want to pump & dump like Veeky Forums or long-term hold.

If you want to long-term, just go to Gemini, get verified, and hope that ETH crashes back down to $150 so you can buy in.

If you want to pump & dump, good luck.

Should I mine ETH, and if so how?

No. Go to a multi algo mining pool hub like miningpoolhub, set up a script to rotate between the algorithms, and have it auto-exchange into ETH/BTC for a 1.1% fee. Read the FAQ.

Compile your shit for native if you're on Linux. Otherwise, get prebuilt binaries for Windows on github.

The only algos on CPU worth the time are going to be Equihash or Lyra2v2. Vertcoin is pushing better returns right now. Zcash was doing pretty well a few weeks ago, but it's inflated pretty hard.

Unless you have several GPUs available, you're going to get jack shit for returns btw. My 3 GTX 970s net me around .1 eth every 3 days. That's obviously not bad; It's grocery money. But you're not making bank by mining unless you're renting off Nicehash or something.

If you don't have a CPU with AVX2 (Haswell+) you're just wasting electricity too.

Firespawn
Firespawn

Go to threads and ask for a moondown.

Here's a quick moondown for ya:

Hey Guys,

Here's the newest moondown:

Central banks buying Mooncoin
Illuminati conspiring to make new world currency
Mooncoin at top of list
Used exclusively by Pres Trump and Elon Musk
Originally developed by aliens
gift to mankind like fire from prometheus
Mooncoin on way to be more accepted than USD
References to Mooncoin in Bible and nostradamus
precedes the second coming of Christ
currently only hope for western civilization
Safer than USD/Gold/Bunker with guns
put savings and life force into mooncoin
happiness and coziness to follow

To maximize all your gains, respond with take me to the moon.

viagrandad
viagrandad

What I know:
Bitcoin literally rules all. Every cryptos value was practically based and fluctuated with BTC. That meant, investing in BTC was smart but shorting those other coins was risky but rewarding. Then Ethereum came into play. It became a huge meme around here in like February or March. It was like $13 per coin and people were flipping their shit. I'm nearly certain that it was ETH devs shilling the coin. It fucking took off. The difference between ETH and the rest of the Non-BTC cryptos is that ETH has a ridiculous market share. If this continues, ETH and BTC will be nearly 50/50. Ethereum has a much more stable system and is truly a world changing currency. So what I'm getting at. If you want to make actual investments in crypto, you go high market share coins like ETH/BTC. If you want to time the market somehow and make a ton, you find a coin like dash that will sometimes hit like $30/coin and hit $115 the next week. The main reason people call cryptos a bubble is because the little coins are all fucking schemes. They have absolutely nothing to introduce to the market, they are not innovative. They are solely there to exist for some time until they are pumped and then dumped a week later.

Example:
PIVX.
I bought in at like $.05 and I bought $400 worth. The fucking coin hit $2.00 in like 1 month. It was goddamn incredible. Three days later the coin hit $1.50, then 1.25 and now it's not talked about much. It will have a fate of being forgotten. This will also happen to coins like DGB And XRP. These coins are gambles. You can win or lose pretty big. They're fun. They are literally bubbles, but bubbles that erupt and expand at the speed of the Big Bang and pop at the speed of light. If you miss one, there'll be another the next week.

Sharpcharm
Sharpcharm

I'm thinking to use coinbase as a start. but its been down for a few hours now.
What other good platforms are there?

Also, What can you do, cyber-security wise to protect your assets from potential hackers?

Firespawn
Firespawn

comfycrypto.wordpress.com/2017/04/24/fueling-the-rocket-getting-started-with-crypto/

Raving_Cute
Raving_Cute

What other good platforms are there?

Gemini for BTC/ETH

Also, What can you do, cyber-security wise to protect your assets from potential hackers?

If you're day trading, just keep your coins on your exchange and enable 2FA

WARNING: AUTISMAL CYBERSECURITY NERDSHIT AHEAD

If you're going long, put it in an encrypted wallet which sits on an HDD in a safe. Duplicate encrypted backups across cloud storage like ACD, Dropbox, etc.

Generate a password for your wallet using a password manager like Keepass2. Keep the KP2 database separate from the wallet if possible. The password for the database itself should be memorized or written down if it's unlikely physical theft would occur.

Most importantly: Do not touch the wallet unless you need to. Malware has targeted wallet.dat's before. Ransomware will too.

If you're handling large amounts of coins, I'd recommend only touching a wallet when used with a temporary secured OS like TAILS.

I could get even more autistic, but I don't feel like writing more. There are an immense amount of possible vulnerabilities in this world.

Stark_Naked
Stark_Naked

So coinbase and gemini are for BTC/ETH. where do i buy the other meme coins like doge, redd, ripple etc?

Boy_vs_Girl
Boy_vs_Girl

bittrex / poloniex / yobit

happy_sad
happy_sad

anyone got any good guides for reading candlestick charts or other useful statistical shit used on exchanges?

lostmypassword
lostmypassword

If you want to play the next level crypto trading, add me on skype: cryptoanna

StonedTime
StonedTime

wow nice effortpost. I haven't been investing before this week, but i've been following everything since btc got started and i agree

charts are MEANINGLESS. there is only one rule in all speculative trading: past performance does not predict future results.
if you're going to read a chart worshiper, why not just go to an astrologist -- same results and youre more likely to feel confident afterwards, which is good fo ryour mental health

girlDog
girlDog

What subreddits you use?

Crazy_Nice
Crazy_Nice

all this info.

Thanks a lot mate, I appreciate it.
I might stick to 2FA up until my first 5k or so while I learn.

But I'll seek the advice of a cyber sec consultant so see what my options are once I start trading 15k+

lostmypassword
lostmypassword

what are you basing this on you retard

The more people buy in the more the prices inflates making me dumb 50% of my holdings for insane profit and keeping the rest for long term. It really isn't that hard to figure out.

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