Can we get a beginners thread going?

can we get a beginners thread going?

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youtube.com/edit?o=U&video_id=32Z935Cziio
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Yes please for the love of god I want all of you newfags in your own little general so I don't have to see shit like
>

Here's some tips
1. Never buy in a pump that's only taken a few hours
2. Work on your hands. Most stuff will retrace within a few weeks unless it's a flatlining shitcoin

Also if you are going to margin trade I would trade on no more than a 1.5x margin during longs to protect yourself more from getting liquidated during a flash crash

Btfo

I'll be nice and add to this. If some random shitcoin you know nothing about is being shilled on Veeky Forums, and it's already shot up, don't fucking touch it. Fuck, just don't touch any coins you don't know anything about. Don't ever buy into the hype until you've done research.

1. Buy BTC/ETH
2. Hold
3. Ignore all shitcoins shilled on Veeky Forums
4. Profit

Okay, so, how do you actually estimate the potential future value of a cryptocurrency?

This, unironically

You can make bank off shitcoins but it's very similar to going to the casino. Look at posw and dgb holders for example

Also lending these on polo isn't too bad of an idea if you're really gonna do nothing but hold
At current interest rates you'd make about 3.2% a year which is more than even the best bank CD because bitcoin will also probably go up more a lot on average during the next year

At least the casino is actually risking something.

Shitcoin devs print this stuff from thin air, hire a few pajeets to shill it on Veeky Forums and you mouth breathing retards lap it up because "moon lambo gains!". The whole market is a pathetic fraud.

1. Does the coin have utility for practical use?
1a. Does that use case involve a specific niche?
1b. Is there a reasonable demand for that niche?

2. How strong is the dev team?
2a. If the dev team is mysterious or looks incompetent, stay away. If they seem involved and professional, give the project a serious look.
2b. Does the team have connections, funding, contracts, or promising ties to big investors?

3. Inspect the website, skim the whitepaper, ponder the logo, and essentially, rate their brand image. Is there a strong marketing angle in what they are selling? Does it seem convincing or does it look phony, suspicious, or just plain lame? Ask yourself if a normie would trust this with their money.

4. Finally, view the roadmap and anticipate future development and announcements. Plan your treatment of the token accordingly. (If there is a rumor, buy it. The more sure success looks, the more you buy. Have your finger on the trigger the day the news comes out.)

Thanks for the reply but i actually meant how prople can go like “this coin is at 50$/coin in three days“
Or is that what the fibonacci tools etc are used for?

Are you underage?

Those statements are made by bagholding shitposters or literally paid shills.

Ok... that's just a joke when people say that. Or they are just grossly exaggerating or just pulling a number straight out of their asshole just to blatantly shill. That's not actually how it works.

Come on, man. Don't be so naive.

>1. Does the coin have utility for practical use?
what are the practical uses for btc?

Tax evasion
Capital flight
Purchasing illicit goods
Protection from inflation
Hedge against traditional markets

How to hold them? Just bought some BTC on kraken. Can I keep them on this site, or should I transfer them to some wallet (pls explain this part in detail, this is where I still have little understanding).

Do you do drugs, or steroids?
Do you need to buy something anonymously, or maybe just avoid the haircut that comes with paypal? Or maybe you just want to accept payment in a currency that can potentially increase in value instead of just a stagnant dollar?

What about just a store of value? Do you need a long term investment vehicle that can be also be stored in secure location while taking up very little space? An asset that is virtually guaranteed to rise exponentially in value because it is inherently deflationary?

...

Token in freefall what do

1. Buy coins that aren't obvious pajeet garbage
2. Hodl
3. Profit

Disinflationary*

If the loss is 10-15%, consider selling, if you anticipate that the crash could be severe.

If you have exceeded 15-20% losses, wait for the crash to find the floor and go sideways. When you reach it, buy more. This brings down your average so that you can break even sooner, or even profit on the next pump, if you are patient enough.

If you think you've missed the train and think it won't get lower. IT WILL.

No fuck off, use google.

Here is real advice user if you want to have a better edge in making money.

Go to any website that shows when ICOs are going to go on sale, tokenmarket etc.

See how much hype is around their coin in their slack/telegram/etc.

Be a first buyer, make sure you get a piece of the ICO, equal distribution is becoming popular now where you have to register. These ICOs should be given more weight as you can buy a share. Beware, whales will do sybil attacks but they do help prevent mass accumulation of coins.

Fuck the moon nonsense, get out at 20-100% gains. You come in with 10 ETH, you leave with 12-20, then find another ICO, or multiple ICOs.

That is it user, simple as shit.

How does a wallet work?

1. Go to bitaddress.org
2. Create a paper wallet
3. Print, store in multiple secure locations
4. Send your bitcoins to the address
5. Come back in 10 years and be rich

What does a roadmap/whitepaper entail and what do you mean have you finger on the trigger?

No english isnt my first language so im not really eloquentand im phoneposting. I thought maybe you could use fibonacci sequence tools to estimate where the price is headed in near future. It made sense to me but in hindsight yeah it was probably naive.

As much as people would like to believe, TA does not apply to the crypto-trading world. Don't waste your time with trying to learn. Do your due diligence and read whitepapers and research the devs behind the coins that interest you.

Thanks. So I should just wait? Bought at 2.68 USD now considering to sell at 1.60.

>3. Print, store in multiple secure locations
>4. Send your bitcoins to the address
how do you send it to a paper address?
do you have to print it again each time you deposit coins?

A whitepaper is essentially a manifesto or mission statement, a sort of core document that lays out a detailed description of how the coin and platform work, what sort of technology it is based on, and how the devs envision that the system will function for its users.

A roadmap is an outline of how the team intends to progess with the project. There should be a rough timeframe, along with goals to be achieved or developments to be made by X date. Sometimes these can be just empty promises. However, there can occasionally be impressive claims or key events that can potentially give you an edge on people who do not do their homework (if they deliver on their promises.)

By "to have your finger on the trigger" I mean be prepared to sell at a key moment. When "the news comes out" and a buying frenzy ensues, you will reach a point where the price will skyrocket. Be ready to sell into this buying frenzy. But be warned: do not sell too early. That dip may signify the next leg up. Be wary, but not too greedy. Always remember, "buy the rumor, sell the news!"

What platform is best for trading coins?
Yuropean here.
I've looked into a couple but most were US only, plus500 is run by jews so that's off the list.

Paper address is just am address (to which u have access)
Send coins to that address same way you would send to anything else.

If you don't understand this then go watch some bitcoin tutorials because you don't seem to understand the basics.
Which is ok, just too much to explain on a Veeky Forums post.

There is also a video in bitcoinpaperwallet.com

b8wang

That's a really big loss.

I would honestly just use the dollar cost averaging strategy at this point.

I have literally never sold a bag for more than a 15% loss. My longest hold was six months but I always at least got my money back. And sometimes, by accepting a 10% loss, I could avoid an even bigger loss if I had held through it.

Sometimes you just have to be patient.

Kraken for buying btc. Send to bittrex to trade for shitcoins

Thanks, that's what I thought it meant for the most part but you elaborated on it with much more clarity.

A few more question if you don't mind; Where do you trade currencies? bittrex/liqui
Also what are ICO's

I use Coinbase and Bittrex, mostly.

ICO = initial coin offering. It's comparable to closed door startups on certain stocks, where big investors get to show up early and buy in dirt cheap. Sometimes it's exclusive, you may have to register, and there is usually a time limit, population limit, or both. Needless to say, make sure a project seems trustworthy and promising before you buy into an ICO.

Is BTC really crashing because of the possible upcoming tether scandal?

What is a pajeetcoin?

ALL THESE NEWFAGS REEEEEEEEE

When BTC falls, the overwhelming majority Altcoins will fall along with it.

High risk, big reward (If you haven't diversified)

Listen to this man.
When I was new to crypto, I got stuck bagholding xdn due to a hype thread. Classic beginner mistake -- you should not just chase pumps. It's okay to get in on a pump if you know why it's happening and you know the value of the coin. If you have no idea what it does or why it's pumping then it's better not to risk falling for a PnD.

Good coins -- those with good development teams, technology, and lack of competition who is doing the same thing but better -- keep going up in value in bull markets like the one we're in now. Hold them and you will see green. I bought Ark near the all-time high and I was down for a couple of months; now it's up.

Maybe, maybe not.

If you are starting to sweat, it may be a good time to get out. I could be wrong, but BTC seems to be teetering. On the other hand, ETH has good news coming up soon... but will that allow it to decouple?

Anyway, I would not be holding USDT now, regardless.

You have a point, but they did spend time and energy on the creation of their coins. It's not like they sat back and the coins made themselves.

Actually surprise me that no one has written a sticky for this board yet. You could even shill your shitcoin a little.

SHOULD I BUY BTC/ETH NOW? OR WAIT FOR AN IMPENDING 'CRASH' THAT MIGHT NEVER COME AAAAAAAAAAAA

Is there some sort of exchange everyone uses to buy and sell the major coins? Is there any sort of beginners guide for buying/selling crypto in general

Any coins whose value is independent-ish of BTC?
Looking for a haven. Have a coin in mind but it could be a very risky move.

What kind of trading do you do mostly?

If I'm looking at starting out do I want to put money into bigger currencies, smaller ones with potential for growth or, a 60/40(or other %) split?

Do you ever foresee a currency/investment that you buy into that you wouldn't want to sell if you forecast exponential growth? Or in that case would you sell a certain % an put in another place?

Do you make most of you money from effective and intelligent trading or by dumping into BTC and waiting?

quick question: is there any notification before bittrex/kraken starts trading a new coin? how do you access that information as early as possible?

Also, where do people get their news for upcoming ICOs or just crypto-news in general?

Bumping a useful and informational thread.

Only hold BTC long term ( >year).
Use 30-50% of your money to buy 1-2 shitcoins for a month or two at most.
If it dips over 10-20%(based on how much you trust it) sell it and rebuy later or take losses and invest into something else.

No coin is truly independent of BTC. That said, the best hedge for weathering the BTC storms, is unironically litecoin. Take a look at the history of the coin, and you will see a very stable price which, at most, fluctuates a couple of bucks in the short term, and trends steadily upwards in the longterm.

ETH is also pretty decent for entering and exiting positions, even when BTC is dangerously close to falling, and has shown some sign of decoupling, recently.

is it normal that coinbase charges 1$ for any transaction like pic related?
thats some massive jew fee


can you provide sauce for your pic?

then what ration would you say to go to hold on btc/eth/ltc longterm?

2:1:1 ? or 2:0.5:1 ?

Thought so. Thank you, man.

kraken has so few coins that they'll inform you of new additions by email

dunno about bittrex

Intermediate trader here. How do I margin trade/loan bitcoins? what exchanges let me do that the best?
Where do I get programs for looping stop limits? I need 2 stop limits that buy and sell every time the chosen currency hits a price.
In your experience with free electricity/your own generators. What kind of ASIC/specialized mining machine would be useful?
Is HDD mining profitable? what other PC component or ways are there to "mine" cryptocurrency? Geo coin has some sort of geo cache/ digital treasure hunt like playing pokemon go, is it worth it?

I'm not experienced with ICOs in the least. And neither reading the white paper and realizing what am I looking at. I only know the bare basics.
Answer just 1 question in depth per post.

What is the easiest way to cash out?

1. I mostly just buy and hold. Sometimes I day trade if I have spare time, but I have a fulltime job and do not often sleep with money in shitcoins.

2. Remember that you are not actually concerned with dollar value, only with percentages. It does not matter whether a coin increases by 1$, or 10$, or even 100$. All that matters is percentage and how much it multiplies your position (IE, you buy more of cheaper coins).

3. Yes. There are some coins I hold that I have no intention of selling until late this year, or even next year. Others, I plan on selling tomorrow.

4. I'll be honest, I sold BTC at 4k, after buying in Mid July at sub 2k prices. I was content, and came away with my profits and expected a big retrace to buy back in. It didn't happen. Since then, I have been following this insane peak with anxiety and trepidation. I have not touched BTC since then and have my funds hedged just in case.

lots of youtube vids for that entry its not as hard as youd think

most common beginner mistakes I read of are people forgetting passwords, or sending coins to the wrong address. Just make sure you double check before you send stuff and try not to be naive and fall for shoddily shilled shitcoins like sigt or dgb. Most people use Bittrex, Poloniex used to be more popular but I cant recommend them.

50/35/15%

LTC is really only useful if BTC implodes; atomic swaps are a meme when BTC are divisible to the mBTC and tx fees are lowered with segwit/schnorr/2MB. ETH is cheap enough that if it makes it big, you'll see similar profits to BTC, but it's not going over ~750 without "flippening". Its potential is mostly to double over the next 1-2 years.

BTC is going to be the first to touch 10k if SW2x doesn't set everyone back for 2 years.

move btc to coinbase, sell to usd or eur or whatever, send that to your bank account. that's what I do at least, maybe there's an easier or better way, but it works.

isnt LTC useful to use as fiat currency on bittrex instead of btc, so theres no need to wait for the btc long times to be transferred over?

what do you use?

I guess, although if you're a burger like me, taxation occurs on every altcoin swap so it's not very worthwhile. I'd only do it with the coins I never plan on turning into fiat.

LTC is certainly much faster to transfer than BTC. But then again, what isn't?

That said, once you are trading on the exchange itself, it doesn't matter what coins you are using. No coins are actually moved until you withdraw, or deposit. They just show you numbers until then.

what you're saying is you transfer btc to exchange only once and dont remove them until youre cashing out months/years later?

can you confirm this nonsense with coinbase?

in your opinion will the crash of btc also affect bch and if so how will it react?

But to do this you have to risk your funds being on polo

Watch all crypto beak's videos. Very educational. I turned $500 into $2k from his vids

youtube.com/edit?o=U&video_id=32Z935Cziio

What I am trying to say is that when you trading coin X and coin Y on the exchange, the transfer times of neither will affect the transaction. Because there is no actual real transaction. It is entirely simulated. Only sending coins to the on-exchange wallet, or sending them way, actually moves anything.

As far as coinbase goes, they charge high fees for credit and debit transactions, and the limits are strict, but you get your funds immediately. Alternatively, you can do direct transfer from your bank account. Much lower fees, and higher limits, but it takes an entire week to get your coins. Later, once you start selling, you can use the funds in your USD or other national currency wallet to instantly buy at very low fees with your pool of profits.

This is actually really tricky and IMO nobody knows RN. It seems to me that BCC will go up, while BTC will go down. The problem is that BTC usually takes everything else down with it. So I am pretty uncertain where things are headed, but it seems to me that BTC has lots of room to fall, while BCC has room to grow...

BCH seems like it's being manipulated in order to court miners (only at this price is the mining profitability difference 0%, and it's peaked @ 500), and it only seems to have jumped due to rumors about Ver going all-in and SW2x FUD. In terms of how it will react, it depends on how fast BCH's difficulty adjustments occur, but without support of a major US exchange, it's unlikely it'll see huge amounts of user adoption.

BTC tanking means I'm either going to be taint deep in ETH or fiat. LTC is also something people are interested in today since it jumped 5%, but its cap is around $75-$85 unless SW2x completely wrecks crypto.

I use bittrex, once you figure that site out then you can start trying out different altcoin wallets for if you want to withdraw them, some coins you wont get staking dividends from if you keep them on the exchange. There are other shitcoin exchanges but they are mostly memes at this point.

...

im sorry im pretty new. If ive understood correctly this should indicate a rise?

>they charge high fees for credit and debit transactions,
shit , i just wanted to DCA with a tiny sum on a weekly basis automatically. but like this i spend a fortune on deposit fees...

Thanks bud, i'll start with bittrex

why did you pick the most irrelevant market to chart on, and on a 15 minute chart...?

macabre infomoercial

You can trade for BTC or USDT if you want instead, but it's really not a big difference most of the time, unless you have an arbitrage opportunity.

Because I wanted to see 15m candles. What are you using?

3-4 ETH for each BTC and avoid all other coins

>sell to usd or eur or whatever, send that to your bank account
tfw you live in australia and it doesn't let you do that

Noob here. Bought omg on bittrex. Everyone says you shouldn't keep coins in the marketplace. So, should I get a wallet for them and transfer immediately after the transaction? Which would you recommend and is it really necessary?

What BTC problems did BCC solve?
Did the increased block size decrease transaction time?

Posted this in a BTC thread but

>coinbase still hasn't verified bank account after a week
Any good place to buy crypto with fiat that isn't localbitcoin?

Which site should i use? How's kraken?

Just one question from me.

Why the fuck didn't you tell me all this when bitcoin was 1% of what it's worth now?

Shame on you user.

I wrote up a very basic beginner's guide for some anons a week ago

should I post it

yas

whats the diff between bitcoin, cash and core?

cryptocompare.com/wallets/guides/how-to-make-a-bitcoin-offline-transaction/

FUCKING LOOK TO THIS BOIS

More detailed answer:
People are too sure of themselves and their judgment. People are fallible, biased, and self-centered. And all investors are people.
Look how many people holding a ton of DGB post daily about how it's coming back one day. And equally, look how many who don't hold it tell them they are delusional.

In reality we are all just making our best guess and putting our money where our mouth is. Some people take it a step further and try to shill the coin on Veeky Forums, reddit, twitter, etc. But I honestly believe that very few people are consciously shilling to try and pump their coin, and a majority of people are just trying to argue their side.

Think of it like Christianity. Almost no one is out there "shilling" Christianity to try and dupe people. They advocate for Christianity and try to convert people because they think "This shit is real, and everyone is going to get left behind on judgment day or burn in hell for eternity, I have to make them see..."

Fellow noob so take this with a grain of salt. There are also people deliberately shilling and pumping coins so just watch out and question everything you see here. Learn to read whitepapers and get a basic understanding of Github, branding, and marketing. Learn what is a useful blockchain product and what isn't. These things are what I'm working on now.

Kraken is great if you live in EU and use €. EUR deposits/withdrawals takes 1 bank day to confirm. Then you buy btc or eth and just transfer to another site, kraken sucks for trading.

Can i use bitcoin if i'm under 18? xD