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Crypto Currencies ~ " Duck Tales Spin From The Crypt"

Discussion in 'Stocks & Investments' started by Guerrilla, Oct 13, 2017.

  1. Oct 13, 2017 at 1:30 PM
    #1
    Guerrilla

    Guerrilla [OP] L(.)(.)K@G(.)(.)Dz

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    Thread is meant to discuss and help everyone learn about this Crypto Currency Craze..



    Advisory to anyone... Do your OWN research, DON"T take anyones advice in this thread as financial advice.. Be responsible with your $, DO NOT gamble your kids lunch money away or your family's treasured heirloom... Crypto Currencies are new to the world and highly volatile. Enter at your own risk!

    Cryptocurrency:

    “A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.” (Investopedia.com)




    Check current Crypto Currency prices on sites linked below
    \/\/\/\/\/\/\/\/\/\/\/\/
    https://coinmarketcap.com/ (The standard for coin tracking, has everything you need, If you wanted to buy IOTA for example, search it on coinmarketcap, then click “Markets” and it will show you where you can buy any coin, can also click “Website” to see the coins individual website).

    https://www.tradingview.com/markets/cryptocurrencies/ (Advanced technical analysis tool for cryptocurrencies, can search most coins, very interactive tool)

    https://onchainfx.com/
    I've been using it more than coinmarketcap recently as it has more options, seeing the ATH and days since ATH is convenient so you can see where that coin has been previously.


    How you feel when you find out what you'd have now if you had bought a 100$ worth of BitCoin in 2009:violent:......​





    [​IMG]







    Some top crypto coins along with their frequently used acronyms.

    Bitcoin (BTC)


    Listed below are some of (but not all of) ALT coins, ALT refers to any coin that isn't Bitcoin

    Ripple (XRP)
    Etherium (ETH)
    Bitcoin Cash (BCH)
    Litecoin (LTC)
    Cardano (ADA)
    Iota (MIOTA)
    NEM (XEM)
    Dash (DASH)
    Monero (XMR)
    Stellar (XLM)
    EOS (EOS)
    Bitcoin Gold (BTG)
    NEO (NEO)
    Qtum (QTUM)
    Ethereum Classic (ETC)
    BitConnect (BCC)
    Lisk (LSK)
    Tron (TRX)
    Verge (XVG)
    ICON (ICX)
    Ardor (ARDR)
    RaiBlocks (XRB)
    Zcash (ZEC)
    OmiseGO (OMG)

    Other frequently used Acronyms and Terms:

    "CC" "ACC"= Crypto Coin or Alt Crypto Coin

    “ATH” = All time high

    “ICO” = Initial Coin Offering (similar to IPO in stock world)

    “Alt coins” = Alternative coins to Bitcoin (i.e. ETH / IOTA / XRP etc)

    “HODL” = Hold (reddit joke)

    “Fiat” = currency that a government has declared to be legal tender, but it is not backed by a physical commodity

    “Ponzi scheme” = Scam

    “FOMO” = Fear of missing out

    “FUD” = Fear, uncertainty, doubt

    “Shill” = Attempting to increase hype over something

    “Bagholder” = Someone who has been holding too long

    “Moon/mooning” = Expectancy of something to rise very quickly

    “Bear” = Market is going down

    “Bull” = Market is going up

    “Whale” = Someone who owns a lot of “x”, can usually swing a market when selling all of the coins

    “Pump and Dump” = To increase hype over something that you already hold to increase value, then to sell after it spikes, mostly done by people with large followings.

    “2FA” = Two factor authentication

    “Fork” = When a coin splits into two separate coins (BTC -> Bitcoin Cash)

    “Public Address” = Just like your EMAIL, safe to give out to the public to receive coins

    “Private Address” = Just like your EMAIL PASSWORD (NEVER GIVE THIS OUT)

    “Whitepaper” = Documentation describing a crypto currencies protocol in detail.

    "FCFWEPN"= Flat Chested Female With Extra Puffy Nipples



    Guides:


    https://medium.freecodecamp.org/explain-bitcoin-like-im-five-73b4257ac833 (Cryptocurrency / Ledgers / Problems Addressed / Fixes all EL15 [explained to a five-year-old])

    https://www.tradingheroes.com/cryptocurrency-trading-guide-beginners/#Exchanges (Beginner’s Guide)

    https://blockgeeks.com/cryptocurrency-investing/ (Beginner’s Guide)

    https://blockgeeks.com/guides/cryptocurrency-wallet-guide/ (Wallet Guide)

    https://www.lifewire.com/cryptocoin-mining-for-beginners-2483064 (Mining Guide)



    News Sources:

    http://coinmarketcal.com/ (My go to crypto news source, you can search for news on any coin, has important dates like forks, burns, meetings, conferences that can affect prices.

    https://twitter.com/?lang=en (By far the fastest news source for cryptos, look up specific coins for latest news)

    https://www.cryptocoinsnews.com/ (General news source)

    https://www.coindesk.com/ (General news source)

    Additional Resources:

    https://www.investopedia.com/ (Investing and cryptocurrency terminology/processes explained)

    Sixty free lectures from Princeton on bitcoin on cryptocurrency. Avg length ~15 mins.

    Good educational material on cryptocurrency!

    Apps:
    Google Authenticator (Authentication tool for 2FA)

    Coinbase / GDAX (Mobile trading platforms)

    Bitcoin Ticker (has individual widgets for each cryptocurrency)

    Crypto Tracker (tracks cryptocurrencies)

    Blockfolio (Cryptocurrency portfolio, you have to manually update, also on desktop)


    Podcasts:

    Unchained

    The Cryptoverse

    The Blockchain Show

    Let’s Talk Crypto

    crypto cousins


    Books:

    Digital Gold by Nathaniel Popper

    The Internet of money by Andreas Antonopoulos


    Reddits:

    https://www.reddit.com/r/CryptoCurrency/ (The best one imo, a good resource to see what the flavor of the month is!)

    https://www.reddit.com/r/CryptoMarkets/

    https://www.reddit.com/r/Bitcoin/


    YouTube (the one I find to be unbiased):

    https://www.youtube.com/channel/UC4nXWTjZqK4bv7feoRntSog (Coin Mastery)

    https://www.youtube.com/channel/UCTKyJALgd09WxZBuWVbZzXQ/videos (Crypto Investor)

    https://www.youtube.com/user/chrisdunntv/videos (Chris Dunn)

    https://www.youtube.com/channel/UCt_oM56Ui0BCCgi0Yc-Wh3Q (Crypto Bobby)














    Special Thanks to ~~~~ @WhiskeyTaco @ramonortiz55 @Rattletrap66 @mountainmonkey @DustStorm4x4 @Ryan_3TacosIn @shieldze1025 @tcBob for help in OP and thread contributions.
     
    Last edited: Dec 30, 2017
  2. Oct 14, 2017 at 4:34 PM
    #2
    Guerrilla

    Guerrilla [OP] L(.)(.)K@G(.)(.)Dz

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    Buying Cryptocurrency Steps:


    1) Sign up on trading platform (USD/EU/CAD -> Crypto) listed below (*It’s usually much easier to sign up on a platforms MOBILE app and validate information)

    a) This requires documentation usually (Driver’s license, ID, or passport)

    b) This also requires bank information (credit card or checking/savings account) to transfer money in

    2) Buy currency of choice (usually Bitcoin [BTC] / Ethereum [ETH] / Litecoin [LTC])

    3) Congratulations, you now own Cryptocurrency!

    (USD/EU/CAD -> Crypto)

    https://www.coinbase.com/join/5a1f8594036e9302ab466d65 (Most user-friendly platform, higher fees, only has three coins atm. [Referral link, we each get $10 when you buy $100 worth of bitcoin before fees).

    https://www.gdax.com/signup (owned by Coinbase, lower fees, more advanced platform, only three coins for now)

    https://gemini.com/ (owned by Winklevoss Twins, lower fees, more advanced platform, only two coins for now)

    https://www.quadrigacx.com/ (Canadian run exchange, seems to be most popular with our Northern friends)

    https://www.kraken.com/ (accepts multiple currencies [USD/EU/CAD etc.], would not use unless last resort, seems to have a lot of downtimes)




    Buying Alternative Coins (Alt coins, i.e. any other coin than BTC)

    1) To purchase alt coins, you must sign up on trading platform (Crypto -> Crypto) listed below.

    2) Transfer currency (BTC) from original platform (i.e. Coinbase) to new platform (i.e. Bittrex) to purchase alt coins with BTC.

    a) Find “DEPOSIT/RECEIVE” tab on currency you want to trade on Trading platform (i.e. Bittrex)

    b) Copy address

    c) Find “SEND” tab on currency you want to trade on trading platform (i.e. Coinbase)

    d) Send to that address. (NOTE: due to high volume of trading recently most platforms are experiencing delays. This transaction can take seconds up to hours.

    (Crypto -> Crypto, used to buy “alt coins”)

    https://bittrex.com/ (US based)

    https://www.binance.com/ (China-based)

    https://www.bitfinex.com/ (doesn’t accept US customers)

    https://gate.io/signup/636410 (China-based, referral link)

    https://www.shapeshift.io/#/coins

    https://www.coinigy.com/


    ~~~~~~~~

    ~~~~~~~~

    1. Coinbase ->
    set up account and purchase BTC, ETH or LTC (Use a credit card for instant purchases, withdraws from bank accts take ~ 5-8 days)

    2. Binance (or other exchange) -> set up account to receive BTC, ETH or LTC from coinbase and exchange to other crypto currencies such as IOTA, SALT, ETC etc.
    • To do so you would need to go to funds>deposits/withdrawls>click deposit for the currency you receive from coinbase (1 of the 3 and make sure it matches.
    • This will generate an address, copy that address to coinbase
    • In coinbase go to accounts, click send on the currency you want to send and paste the address from Binance into the address to send to.
    • Receiving the currency on binance may take a little while (5-8 hours)
    3. Now that you have BTC, ETH or LTC in Binance you can exchange on there to other currencies

    ~~~~~

    In Binance - Clicked funds>deposits/withdrawls and i looked for the coin i want to deposit:



    Then I clicked DEPOSIT - and i will get an address with a bunch of letters.

    In coinbase click SEND:





    Enter that long code in here:




    Notes of interest..
    Most altcoins (any coin not BTC) cannot be directly bought with fiat currency but rather is acquired usually with either BTC or ETH. For example IOTA. Many people obtain it by buying into the trading pair IOT/BTC. When you evaluate how your investment is doing many people look at whether the price of IOTA has gone up in USD (US dollars), and if so they are happy and thinking their investment is doing well. This is not always the case. You should be evaluating your altcoin performance based on the currency you purchased it with. In the case of the IOT/BTC pair you should compare the price increase or decrease of IOTA to the increase or decrease of Bitcoin. This is because even if the price of IOTA goes up in price compared to the US dollar, if the price of Bitcoin also goes up, by a larger percentage compared to the US dollar, you have actually reduced the value of your portfolio by investing in the IOT/BTC pair compared to if you had just kept your money invested in the Bitcoin that you had to use to purchase the IOTA. A good resource for viewing the price of altcoins compared to both BTC and ETH is coinmarketcap.com. you just have to change the drop down menu above the list of coins from USD to either BTC or ETH (whichever is applicable). This updates the info on the page to be compared with Bitcoin or Ethereum rather than the US dollar.



    Wallets (Hardware / Desktop / Mobile / Paper / Online):

    https://www.ledgerwallet.com/products/ledger-nano-s (Hardware Wallet, considered most secure, offline, supports multiple currencies. I’d advise to ONLY buy directly from manufacturer to ensure it has not been tampered with)

    https://www.exodus.io/ (Desktop Wallet, redeemable with code in case computer dies, has multiple currencies, offline, can be breached by malicious software on computer)

    https://electrum.org/#home (Desktop Wallet, see above)

    https://jaxx.io/ (Desktop/Mobile wallet, see above)

    Paper Wallet = Offline method of storing cryptocurrencies. Printing the private keys (private addresses onto paper and storing them in a physical location)
     
    Last edited: Dec 29, 2017
  3. Oct 26, 2017 at 12:14 AM
    #3
    Guerrilla

    Guerrilla [OP] L(.)(.)K@G(.)(.)Dz

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    TRADING CRYPTO


    Trading Platforms (USD/EU/CAD -> Crypto)

    https://www.coinbase.com/join/5a1f8594036e9302ab466d65 (Most user-friendly platform, higher fees, only has three coins atm. [Referral link, we each get $10 when you buy $100 worth of bitcoin before fees).

    https://www.gdax.com/signup (owned by Coinbase, lower fees, more advanced platform, only three coins for now)

    https://gemini.com/ (owned by Winklevoss Twins, lower fees, more advanced platform, only two coins for now)

    https://www.quadrigacx.com/ (Canadian run exchange, seems to be most popular with our Northern friends)

    https://www.kraken.com/ (accepts multiple currencies [USD/EU/CAD etc.], would not use unless last resort, seems to have a lot of downtimes)


    Trading Platforms (Crypto -> Crypto, used to buy “alt coins”)

    https://bittrex.com/ (US based)

    https://www.binance.com/ (China-based)

    https://www.bitfinex.com/ (doesn’t accept US customers)

    https://gate.io/signup/636410 (China-based, referral link)

    https://www.shapeshift.io/#/coins

    https://www.coinigy.com/




    From @mountainmonkey

    Anyone using TA to plan your trades? I was hoping we could use this thread to teach/learn together, so I am going to post a chart and my thoughts and would welcome others feedback etc.

    [​IMG]

    This chart is showing the price of Litecoin compared to USD on Coinbase specifically. Each candle represents the trading during one hour. Right now it looks like there is a pretty strong support somewhere in the neighborhood of $350 (horizontal green line) as well as a pretty strong resistance around $380 (horizontal green line) that have each been tested multiple times over the last 9 hours. I have also identified a not particularly well defined bullish support line (the diagonal green line). My thoughts are that Litecoin will do one of 2 things in the next 8-10 hours until the bullish support intersects with the support at $350.

    1.) It will break the resistance at $380 and just continue upwards for a bit before establishing a new resistance and support which will require new analysis.

    2.) It will break the support at $350 and go down and test the bullish support line. This means the price could fall to anywhere between $295 and $350 depending on how soon this happens. If this scenario happens it would be time for another analysis to try and predict its path from there.

    EDIT FOR DISCLOSURE: I do not have any positions in Litecoin. I chose it because many of the people in this group do so I figure it would be of particular interest.

    From @Rattletrap66
    This is great, I actually just watched a couple videos that has helped me out in understanding it better. I will be giving a shot at a few coins. SALT is one of them as it climbs

    https://youtu.be/z25hQom4qSQ
    https://youtu.be/sFQ1MSNrTto





    /\/\/\
    Quick rundown on Limit orders






    Another Cheat Sheet

    [​IMG]
     
    Last edited: Dec 29, 2017
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  4. Oct 26, 2017 at 12:14 AM
    #4
    Guerrilla

    Guerrilla [OP] L(.)(.)K@G(.)(.)Dz

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    Last edited: Dec 29, 2017
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  5. Oct 26, 2017 at 12:14 AM
    #5
    Axinex

    Axinex Desert Rat

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    Not recently. It's been a bunch of years since I had anything to do with crypto mining or trading. What kinds of questions do you have?
     
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  6. Oct 26, 2017 at 11:46 AM
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    crdnlplt

    crdnlplt Well-Known Member

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    Put a few thousand in ethereum and litecoin a few weeks back based on what a buddy was talking about. Haven't followed it much - will see what happens.
     
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  7. Oct 26, 2017 at 2:45 PM
    #7
    Guerrilla

    Guerrilla [OP] L(.)(.)K@G(.)(.)Dz

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    I guess being new to it.
    A couple of questions would be~ What would be the best way to get into it, like what is the most secure way or wallet to have and means of turning fiat to crypto? Like anything else, and especially when it comes to investing in such things like this, you need to know of the solid ways or most trusted/established sources etc... There's obviously a mega ton of info and videos, so sifting thru it to find the best way is what I'm wondering, from people who are experienced in it. Some basic newb questions I suppose.

    I've been watching ethereum and litecoin, also others on the market. I know there's a lot of talk about this all being volatile etc. But could be something, even if some of the alts did a fraction of what Bitcoin has done, that'd be awesome.
     
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  8. Oct 26, 2017 at 4:47 PM
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    Axinex

    Axinex Desert Rat

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    I'd really recommend against jumping in right now, we're in the midst of another big boom in altcoins, particularly Etherium. There's two primary ways to get into it right now, those being mining and trading. Trading is pretty self-explanatory, it works pretty much like how forex works, exchanging bitcoins or fiat currencies for altcoins. The safest way to keep your coins safe is through a standard "wallet" that stores the IDs of each coin or partial coin in your possession, backing up your money against the "blockchain," or the public repository of all exchanges of said coins. A strong recommendation from anyone involved in cryptocurrency work is to BACK UP YOUR WALLET! Most do this by keeping a copy of your wallet's data on an external drive, cloud storage, etc. Some people go as far as to keep paper copies of all their wallet information, so that they can manually rebuild their wallet if the need arises. Now, as far as the actual process of exchanging goes, there are a number of difference exchanges across the internet with varying reputation and reliability. Do your research before adding your coins to any exchange!

    As for mining, mining is kinda complicated to explain. The simple version is that you use computer hardware, like CPU's, GPUs, or storage devices to turn electricity and computational power into coins. Obviously it's more complicated that that, but I could write a full 50-page dissertation on the process of cryptocurrency mining. Lots of math and prime numbers involved.
     
  9. Oct 26, 2017 at 7:36 PM
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    Guerrilla

    Guerrilla [OP] L(.)(.)K@G(.)(.)Dz

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    Thanks for the input..

    I've been trying to learn more and more about it all. It's all new to me, and just like with anything else for the most part takes time to start really knowing what you're doing.. And I didn't want to miss an opportunity to by into some of them while they were really low, while trying to learn more. My thoughts were to just buy some and hold, no plans on trying to do much if any trading at all. Really more or less long term, just to see what happens type thing, and hope for the best. Obviously by trying to choose as wisely as possible.

    Here's a question, pretty basic. But keep in mind, like I said it's all new and I'm trying to learn.
    If I wanted to buy some, where would you do it? Where would you choose to securely do a transaction to obtain it, and what wallet would you choose? Like is there a site you'd recommend that you buy some via credit card or something like that to put it into your wallet?

    It would've been awesome to have known about Bitcoin back in early 2010 and put a nice chunk in..

    I've watched some vids on the mining ordeal. Sounded/looked to me like you'd really have to put a substantial chunk into it to really get anything worth while back. And sounds like you know quite a bit, mining wouldn't be anything I'd really be looking to get into, at least at this time.



    Thanks
     
  10. Oct 26, 2017 at 7:42 PM
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    Axinex

    Axinex Desert Rat

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    Honestly, I won't know what to tell you. I haven't done anything related to crypto trading or mining in a few years, and the exchanges I frequented have more or less disappeared. Specific wallets are going to depend on which cryptocurrency you're working with. I wish I had more information to offer up, but like with any other sort of investment, do your research until you feel confident, then research some more.
     
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  11. Oct 26, 2017 at 7:46 PM
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    Guerrilla

    Guerrilla [OP] L(.)(.)K@G(.)(.)Dz

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    :thumbsup: It's cool. Thanks tho


    I kinda repeated myself, I just noticed.
     
    Last edited: Nov 30, 2017
  12. Oct 27, 2017 at 5:36 AM
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    crdnlplt

    crdnlplt Well-Known Member

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    I am using coinbase. Seems to be ok but I am just going by what my buddy says. I really don't know much about it other than I check my balance once in a while. Hence the reason for a small investment. It does sound interesting and I do think there is potential.
     
  13. Oct 27, 2017 at 5:41 AM
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    ChadsPride

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  14. Oct 27, 2017 at 5:46 AM
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    DriftingPanda18

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    I use coinbase and made a good amount of money in Bitcoin and Litecoin. If you want to start, look into XRP (Ripple). They're going for 0.22 a coin and most likely will be a 1 or 2 dollars a coin next year. If you want to buy Ripple use Bitstamp to buy them.
     
  15. Oct 27, 2017 at 5:47 AM
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    DustStorm4x4

    DustStorm4x4 Keep fighting for Net Neutrality

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    I thought about making a crypto thread just a month ago. I got in btc at about $4k and it’s been up to $6200 since. Also got an ETH and a little Litecoin as well.

    I’m using Coinbase; however GDAX owns Coinbase and has much lower fees. I also ordered a Ledger Nano S to keep the coins off an exchange.

    Don’t know much about mining, mainly because you’re competing against hundreds and thousands of dollars of hi tech computers.

    If anyone wants to learn more about crypto, I suggest checking out Andreas Antonopoulos. I’ve read his first book and also watched a lot of his videos on YouTube. https://www.youtube.com/user/aantonop

    Another source is r/bitcoin on Reddit, but there’s tons of drama in there as well due to the B2X fork.
     
  16. Oct 27, 2017 at 1:20 PM
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    DustStorm4x4

    DustStorm4x4 Keep fighting for Net Neutrality

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  17. Oct 27, 2017 at 1:24 PM
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    DrFunker

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  18. Oct 27, 2017 at 4:05 PM
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    T Fades

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    Satoshi, debadged, rear view mirror bracket, tail gate hose clamps, trimmed mud flaps.
    curious why the choice of Ledger over Trezor?
     
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  19. Oct 27, 2017 at 4:06 PM
    #19
    DriftingPanda18

    DriftingPanda18 Well-Known Member

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    Same here.
     
  20. Oct 27, 2017 at 5:11 PM
    #20
    Guerrilla

    Guerrilla [OP] L(.)(.)K@G(.)(.)Dz

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    Stuff
    First off thanks for everybody's input.. Lets keep it going.

    From what I've gathered thru watching videos etc.. They say, Coinbase only deals with BTC, ET, and Litecoin... Is this not true?

    I had come across some info on XRP/Ripple, and it did sound like something I may be interested in.

    And that's awesome you've made some.. When did you get in? if you don't mind me asking...

    So, GDAX is it another site similar to Coinbase? If so, is buying more coins an option Like what I mentioned above, verse Coinbase?

    I'll check his vids out, thanks.

    Elaborate on your thoughts on the differences.. Why would you ask that? What's your option/thoughts, pros cons etc..






    And how does everyone feel concerning the security aspect of this all. Like these sites, where you transfer your reg currencies to Crypto... How secure is this all, like concerning hacking etc..
    Reason I ask is, I've come across some stuff, where people were saying how they lost everything etc..
     
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