ITT helping people through the basics of crypto
>dos and don'ts of trading / security / privacy
>questions that don't need their own thread
>understanding the differences of various coins
>how to spot shit tier coins being shilled
For those of us who haven't started trading yet,
or who have, but are still clueless
Hopefully by getting newbies past the confusion stage,
and helping them avoid losing money on garbage cryptos
we'll be able to get a lot more people to join us for the revolution
Yea so i'm down 1,100 dollars from my initial investment, 600 of which were retardedly sent out to the wrong address so yea
with 500 dollars left, is it likely that I could break even at 1,600?
depends on what coin?
the market is heading down currently, but should recover and continue up some time in the next few days
i've got 200 in BMC, and the rest im using to chase pumps to slowly make my way back
do the opposite of what Veeky Forums says
Don't think of fiat, or worse, tether, as your safe place.
BTC is your safe place. Always sleep in BTC.
not familiar with that particular coin,
considering it's only a couple of days old, its market share is impressive
what inspired you to invest in it? superior technology or what?
because crypto is very competitive at the moment
How difficult / expensive would it be to create a quality crypto?
Something with good privacy, security, transaction times, etc
The ICO looked promising, the company behind it had existed since 2014 so it didnt feel scammy, the product is essentially a normie friendly platform to get fiat into the cryptocurrency world
got high hopes for this one
Never margin trade unless you know what you're doing.
Moons usually dips but will always moon a second time.
How the FUCK do I dump my USbux into crypto? Almost every exchange requires you to buy cryptocurrency with some other cryptocurrency. How the literal fuck does a newcomer do anything
what is the best site to use for simply buying/selling bitcoin and possibly ethereum? like, lowest fees and quick reliable transactions. ideally no entry cost. i'm using coinbase and its 3.8% tax kills me
buy bitcoin with cash from coinbase/gemini then transfer to exchange to get alts
Is there a reason crypto currency has to be so volatile?
What if the value was set at ICO, and value only grows linearly year by year?
For example: BTC launches with a value of 10 USD,
and no matter how many people buy / sell,
it will always grow 10% year on year
it would encourage a lot more people to get into crypto
Experimenting with small transactions to see if I can actually turn a profit before I really commit. I just put 50% of my starting capital into BTC, and 25% into both ETH and LTC. Literally never done this before, and I'm experimenting with money I won at a casino when half drunk. Current strategy is to wait until either ETH or LTC turn around, and then sell anything above the initial investment for BTC. BTC seems pretty safe, so my goal is to try and get as much as it as possible.
Any horrible red flags here? Also, any basic strategies I should be reading up on?
That's not how capitalism works.
Use GDAX it's the same shit as coinbase but doesn't fuck you as hard with fees
I would hold the ether before bitcoin. just me.
Lite-coin is pretty stable. realistically it won't moon but it'll mature pretty well I think. 3:1 standard goal isn't unreasonable. longer term hold, even.
good idea
I'll make growcoin. It's worth $10 and it's going to be $11 next year.
I can sell you some, but I'll only sell it for $11 because I know it's going to go up.
yeah but the majority of people wouldn't try to sell it for more than it's worth
and nobody would buy it at $11 if the agreed upon value for the year is $10
i can't
thanks just earned 100k
Retard alert
Either full brain dead fucking retard or exquisite troll.
care to explain why it can't work?
the 10% growth was just an example, it could be 1% or whatever
Man how do i take a pic of my license for coinbase? It wont scan my shit, im 20 btw so my license is the vertical one
What the fuck do you think makes the price of anything go up and down? Serious question
Coinbase is ridiculous tho. BTC will be listed for one price and then you go to buy it and its 10% higher, and when you go to sell it its 10% lower. Wtf
Dude if you don't understand supply/demand you're too stupid for crypto. That "growth" that you're talking about is called inflation and gives a negative incentive to hold a currency. Inflation is bad.
He's OP. He's trolling to get his thread bumped and seen.
price = agreed upon value
the whole concept of value is pretty obscure though
just think about it, if everyone who bought a crypto agreed
it should grow a few percent each year, then there would only be profits?
no, crypto growth is the opposite of inflation?
BTC, for example, grows relative to the USD,
so your ability to purchase goods / services increases with increased price
when the USD inflates, it means you can buy less with the same amount
So listen to Veeky Forums?
>hooking up a light while it's live
of course, this would only work if the particular crypto wasn't the default currency
if it did become the default currency,
then yeah producers would raise their prices to match the growth of this crypto
but you don't see producers raising their prices 100x because bitcoin did, do you?
I actually get a little depressed sometimes thinking about how easy it is to make money in these markets because of idiots like yourself
I seriously need to stop getting on Veeky Forums........
I'm not sure where to buy/sell coins for minimal fees. Should I use a broker/trading site? If so, which ones are legit? Bitfinex, IQOption, etoro? Preferably ones that works in the UK/trades in GBP.
Also, what's a good wallet for things that aren't bitcoin?
>retard
>retard
>stupid
>idiot
yet no one can explain why it won't work lol
if not understanding it makes me a retard, then surely it's not beyond Veeky Forums's capability to explain it
>inb4 waste of time explaining it
if that were the case, then you wouldn't have already wasted your time typing out petty insults kek
Different user.
I can't use GBP on there... The conversion rate kills me. What is a good site for the UK?
the level of stability a crypto has is purely intangible
people say shit like
>monero and litecoin are good, stable investments
but they're only stable because everyone agrees they are
so why couldn't another crypto come along, which everyone agrees is even more stable
if 99% of traders of this coin agree it is too stable to drop in price, then it can only go up
I figured out most of the stuff I wanted to know but can you guys explain wallets? I know they can be generated by clients and are one use. Is there an actual difference between, for example, a BTC wallet and ETH wallet or is the code a generic one that you can use for anything?
And if not, how the fuck do i generate wallets specifically for shitcoins that I buy?
I'm more bothered by the bad camera work that didn't capture his impact. I recorded a friend falling 40 or 50 feet out of a tree and got the whole thing on my shitty 2007 flip phone. It's not hard.
Jesus you don't have any comprehension of supply and demand
Price is what you are willing to pay for it. That's it. Market forces will overcome any predetermined price
Buy high, sell low
What is the application for any of these coins?
How do you think they make money?
Is GDAX better than kraken? It seems less expensive but I'm not sure
Or even Gemini? Which one has the lowest fees? Even if I suppose it is best to have an upgraded accounts on each of them just in case one goes down
Also Coinbase just acts as a gateway for normies to get into crypto. There's a bunch of other good fiat/btc exchanges, I live in Brazil and use foxbit.exchange but there's a good variety even in a third world country like this.
...
Lets a stock/coin was about to go down so you decide to sell to hold the money at a steady value and then buy later.
In stocks you can sell the stock and hold it in USD but for cryptos it seems like every altcoin is tied with BTC so if it were to crash so would everything else and vice versa. How would you circumvent that unless there's a fast way to turn BTC into USD and back?
Agreed, but that is their model. Use Gemini or Kraken if possible to avoid getting kiked every time
prices plummeted and this presents an opportunity for procuring even more ....
I am interested in increasing my crypto coin quantity
Gemini is the best in my experience. Unfortunately in my case for a New York state resident, Gemini and Coinbase/GDAX are the only games in town for exchanging fiat.
I agree having more than one available for your use is a good idea.
Slow speed of transfers and high fees are what soured me on Coinbase. Using GDAX gets you to fee parity with Gemini, but transfers are still slower, and I find the UX to be clunky for my purposes. My experience with Gemini has been overwhelmingly positive.