Crypto stupid question thread -- ask ANYTHING related to crypto, no matter how stupid you think it is. What is buy wall, how to buy bitcoin etc. (bully free zone)
In addition, here's what you should know:
1. Getting away from the hooked nose merchant bankers
The hooked nose bankers with last names ending with Berg, Gold and Stein, are shitting their pants. And for very good reasons: crypto-currency will crumble their business, seemingly overnight.
The banks make their money from charging you up the ass with fees. They charge $30 for over draft fees, $10 a month for having an account with them. Everytime you give the jews money, they collectively orgasm in joy, while rubbing their hands together until it bleed.
They also loan you money that they don't have (known as fractual reserve), so they can enrich themselves.
It works like this: they loan you money they printed out of thin air
... and they loan YOUR money that is the bank to other people without your permission!
Note: when you hold money in your currency (whether it's USD, AUD or YEN) your wealth is slowly eroding through inflation -- at the rate of 2.5 percent a year (or higher). This means, in 1915 it cost a penny to buy a shoe, nowadays it cost $150 to buy a pair of sneakers.
Banking is a jewish scam and it's time to get away from it.
... It's time to tell them to fuck off and become your own bank! For example, you can lend your bitcoin for interest on Poloniex.com. You can transfer wealth across the world without a bank account -- all you need is a bitcoin address. In the near future, everyone will have most of their wealth in crypto currencies and Mr. Zuckerberg banker can't do anything about it.
When Mr. Zuckerberg puts dips his hand into your pocket, you smack his fucking hooked nose.
>>
>>
>>
>>
>>2244319 (OP)
Please explain how I get over the fear of the following:
To win, I must buy low and sell high. So I look for something low. But I get the fear that the one I choose and is low, will remain low forever or go even lower or the coin will just fuckup completely like asiacoin.
>>
>>2244360
When there is a big sell wall, it means that at that price point a whale (someone with huge coins) sells it off, which means that the price of the coin goes down and won't break that price point.
>>2244376
>Any more pics of the hot chick?
Dunno
>What is the Best mobile app to buy all types of coins?
Kraken.com is good. Go with Kraken.
>What are key factors when looking into investing in the best coins.
Great development team, coin is actually useful for doing something. Therefore, you don't want to invest in shit coins. ETH and BTC is solid, so is XMR, STEEM.
>What are the best sites to do research on the coin companies?
Marketcoincap.com, then you click on the coin name, then you can go to their official website. youtube "what is <coin name>" helps too. KEEP LEARNING.
>>
>>
>>
>>2244402
>To win, I must buy low and sell high. So I look for something low. But I get the fear that the one I choose and is low, will remain low forever or go even lower or the coin will just fuckup completely like asiacoin.
Don't invest in shit coins. Look at coins with
Great development team, coin is actually useful for doing something. You need to do massive research. Technical analysis helps, trading vol, and market cap helps too.
Never panic sell, or else you're a weak white suburb kid.
>>
>>
>>2244418
>What is blockchain? I dont understand the wikipedia definition
Think of a blockchain as a book with records and it cannot be changed by anyone (including the fucking jews) ... that's what the block chain is. It's just a fancy way of computers keeping a book (ledger) that cannot be modified once a certain time pass.
>When a new "coin" come in (like BAT), are we buying an action of the company? like believing that the company's project will be succesful?
Yes, exactly. ICO is basically like IPO. Think of a coin as a stock.
>>
>>2244415
>Great development team, coin is actually useful for doing something.
For this reason, and no mentioning of NEM, anyone should study why NEM is useful for banking sector.
Also, read whitepaper and compare each and every tech/algo/scientific/algo stuff they put in, and judge it by their way of realizing it. Cuz research paper is just a... well, research.
>>
>>2244419
>Explain what is the relation between price and volume?
You want vol. because it means people are interested in the coin and it's trading. Generally speaking when there is high vol, the price goes up and down fast, so there is money to be made.
>>
>>2244319 (OP)
How do you know if the coin has a great development team?
>>
Oh this is exactly what i was looking for. I have come into contact with a significant amount of (temporary) money that I could invest.
I was recently in an bad accident. the insurance sent 75k that I need to use to pay back the hospital. I am currently paying it back at a rate of 8.5k a month. I am thinking about investing a good bit of it into bitcoin so maybe i can double it and come out with good lump of change. I've been researching this for the few days or so with alright results.
First: is this a good idea?
Second question: how much?
Third: where can i invest in bulk with the lowest fee?
Forth: when should I invest?
(I'm thinking in about 3 weeks or so)
fifth: is flipping a good idea? I've been doing practice flipping and I would have made around $3000 +- 5% - fees in around 24 hours.
any and all help would be appreciated.
>>
>>2244462
Continuation to my question, I see the trading vol sometimes goes up and sometimes goes down. Why is it so? Are people getting out a lot when I see it going down? Also, how do coinmarketcap knows the trading volume goes down? Do they calculate it based on the coin supply vs the holdings of investor?
>>
File: 1496107010637.jpg (59 KB, 750x734)
2. Understanding crypto-currency
You have to understanding the underlying technology behind crypto-currency, which is mostly "block chains".
... Watch this video:
https://www.youtube.com/watch?v=C3OTJ1AdraY [Embed]
The more you understand about crypto-currency, the impending ramifications this technology have on the world, the stronger your faith you will
have in crypto-currency. If you invest right, you can buy yourself a lambo wthin 2 years.
Why is this technology important? For the first time in history, the money goes back to the people. As a famous Jew once said: "I control the money, I control the country". (did you know the Federal Reserve is actually a private banking company? The government has to borrow money from a private company! Really makes you think ...)
You're in the fucking golden age of crypto, because you got in early. Yes, we're in the very early phase. When clueless baby boomers and the local starbucks cunts on their macbooks are browsing crypto currency, you know crypto is mainstream. Right now it isn't -- far from it ...
>>
>>
>>
>>2244451
Thanks.
And why this is good? It is like the codes that are in dollars that dont allow to falsify money?
Everytime that there is more bitcoins (by mining?), that data stick to other blocks and convert those btc in real money?
>>
>>
File: 1496030803780.jpg (66 KB, 600x449)
>>2244486
Sounds risky; only invest what you can afford. If you trade goes to shit, how you're going to pay the hospital? LOL.
>>2244493
>Continuation to my question, I see the trading vol sometimes goes up and sometimes goes down. Why is it so?
Because sometimes whales "pump and dump", meaning a whale is a person with 1000 BTC, they buy the coins (to pump it), other people see that it's pumping so high so they buy it too, they the whale dumps all the coins thus crashing the price ... then people get awry of trading that coin so the trading vol. goes down. You want to trade coins that has a trading vol. of 1000 BTC or more so it can't be pumped and dumped by whales.
>Also, how do coinmarketcap knows the trading volume goes down? Do they calculate it based on the coin supply vs the holdings of investor?
I believe coinmarketcap gets their data from exchanges like POLONIEX and BITTREX, so they can see the trading vol.
>>
>>2244510
There are two ways:
1) Private keys - search for the backup function from your wallet and get its private key. It should look like a long garbage numbers and alphabet. Write it on a piece of paper and keep it safe and DON"T let anyone see or use it, else your wallet is someone else's.
2) Pass phrase - This is similar to Private Keys, only that it is in english words like "hello laptop books dumb speaker...". BUT this phrase can only be generated within the wallet you are using AND restored using the same wallet. Unlike Private Keys which can be used to restore in any kind of wallet.
Correct me if I'm wrong. The way I backup mine is
1) take a piece of paper
2) get the private keys/pass phrase
3) write it down each and every character - or you could just put it in Word and print it (I'm paranoid of Microsoft botnet spying on me, it's why I jot it down)
4) reconfirm it by using Diff Text tool online (it's safe no worries)
5) also note down which wallet I'm using atm, cuz I might wanna download and use the same wallet to restore it in the future if my laptop got stolen or anything
6) keep the paper somewhere safe
>>
>>2244510
>How do I backup my ether/btc?
Buy a hardware wallet like nano ledger s. Youtube it.
>>2244518
>What do you mean by "coin is actually useful for doing something" What can a digital coin do other than inspire trading?
For example, ETH is about "smart contracts", XMR is good for privacy, STEEM is about earing money from social media related stuff, XRP is tech for banks (but we know XRP is a kike scam), GNT is about distributed computing, BTC is a storage of value etc, DASH is normie friendly for spending crypto etc.
When a coin does something unique, there is a future in it so it isn't a shit coin.
>>
>>
>>2244360
often whales (investors with large amounts of holdings) will place large buy/sell orders in order to affect the speculative price upwards or downwards. Sometimes these walls are real and when they are hit the price will swing in the opposite direction of the wall as the market is flooded with supply/supply is dried up. More often than not they are fake - when the price gets too close to the wall, the wall will vanish leaving the price to moon or crash in the direction of the wall.
>>
>>
>>2244577
>>2244510
Also,
Treat mobile app wallet (Coinomi, Xapo, Electrum, Jaxx etc) as your daily wallet you put in your pocket. DO NOT keep your stash of coins inside. This is called "hot storage". Google the meaning.
Put your stash in a cold storage, such as your wallet stored in your laptop which you can get its private key/pass phrase to backup.
>>
>>2244534
>And why this is good? It is like the codes that are in dollars that dont allow to falsify money?
Why is BTC worth $2.2k USD per coin? Because the people (market) agreed that that's the price. Also BTC is useful because you can cash out from BTC to fiat (your local currency).
For example, Western Money Gram makes BILLIONS a year by sending money from one country to another, usually a Mexicans or Indians sending money home back to their family. Instead of paying money gram $30 to send $500 home, they can send BTC back home and it only cost $2 in mining fees.
And yes, no flasifying money.
>Everytime that there is more bitcoins (by mining?), that data stick to other blocks and convert those btc in real money?
Yes, because keeping the ledger cost electricity, and electricity cost money, the program rewards the miner (the computers that keep the book record) some bitcoins every 10 minutes or so.
>>
okay, but just for fun could i get an answer on these ones? :)
Third: where can i invest in bulk with the lowest fee?
Forth: when should I invest?
(I'm thinking in about 3 weeks or so)
fifth: is flipping a good idea? I've been doing practice flipping and I would have made around $3000 +- 5% - fees in around 24 hours.
>>
>>
>>
>>
>>
>>2244680
>What happens when a coin supply reached its maximum? Will there be any mining activities?
There will still be mining activities. For example, BTC will essentially reach max 21 million coins in 2024. To compenstate for mining fees, the sending BTC fee will be somewhat high, so the miners can get some money.
Hint: 1 BTC will be at least $100k USD in 2024.
>Can't think of any coin that has max'd its supply. Do we have now?
Good question; I don't know. Someone please chime in.
>>
>>
>>2244682
>also, can you think of anything that would make btc's (or other cryptocurrency) price crash?
Bad news but that doesn't matter because the price always bounce up, most of the time if it isn't a shit coin.
People panic sell and lose money, the smart people buy the coins cheap, it goes back up and those with iron hands (smart people) get free money off the dumb people who panic sell.
Never panic sell. Strong nigger hands only.
>>
>>
>>
>>2244715
>are there any good/semi-reliable ways to predict a bubble?
Catch a coin when there is massive, MASSIVE trading vol when it's going upwards like a rocket and then crash out. Never buy when it's mooning and going sideways (side rally)
>>
>>
>>2244709
>Hint: 1 BTC will be at least $100k USD in 2024.
I always see people saying this and referring to my question above about trading vol vs price, they are able to know how much a coin worth. How do you get the numbers though?
>>
>>
>>
>>2244715
>are there any good/semi-reliable ways to predict a bubble?
Also, you never know when a massive bubble is coming, you can only camp yourself BEFORE the bubble starts. This means having good fundamentals and how the coin tech will change the world instead of being a shit coin; look at STRAT it's useful as shit that's why the price is mooning.
>>
>>
>>
>>2244577
>BUT this phrase can only be generated within the wallet you are using AND restored using the same wallet. Unlike Private Keys which can be used to restore in any kind of wallet.
Nope can be restored with any wallet that uses BIP-39 mnemonic seed recovery.
>>
>>
>>
>>
>>
>>
>>2244811
>do you think the use of quantum computers is going to change the btc mining game a little? the classical mining machines will become obsolete.
Yes but by then they'll have crypto-hash function that is quantum computer resistance.
>>2244815
>Your top 3 wallets for beginners, /biz/?
>>2244815
>Your top 3 wallets for beginners, /biz/?
Kraken.com to get your cash to bitcoin
nano ledger s to store your bitcoin long term
bittrex.com to trade coins.
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>
>>2244961
I just watched videos on YouTube.
A wallet is just like a bank account. You have one for each type of coin and it generates an address (which functions just like a bank account number). Just keep in mind the address changes with time to each time you want to send something to your wallet you have to get its current address.
There are wallets that are online and in the exchange and then hardware wallets where you download it do your computer which is far more secure.
I recommend electum for BTC as it's very secure and simple to use.
>>
>>
>>
>>
>>2244319 (OP)
Good thread.
How to make a wallet on PC?
Or should I store it on a PC not on the internet?
>>
>>
>>
File: 1478670271180.jpg (47 KB, 645x968)
>>2244831
What are wallets used for?
Why do you call them wallets? Whats the point of them?
>>
>>
>>
Why are there so many different coins? Why does every company that uses block chain want or need to make their own cryptocurrency?
How do I convert crypto to cash? It seems like not many people have turned crypto profits to cash money. when whales dump where are they dumping too. Are they cashing out? Wouldn't that mean they fill out 1099 each time?
Many thanks for anyone who answers
>>
Christ this shit is confusing.
So I buy my monopoly money from one of these online exchangers, and they give me a wallet or "account" or whatever yes? But the one they give you you don't actually want because risk of hacks? So you use one of these wallet programs mentioned ITT to make another account and send the shit you bought to there?
>>
>>2244319 (OP) lets say i made 50 million on bitcoin or altcoins. what's the smartest way of converting my money to cash?
>>
is it dangerous to do the verification process for gemini? it seems odd to me. a group of people who value privacy and anonymous online presence feel comfortable handing over every last bit of information on an online exchange.
should i sign up for gemini and do the verification? how is it not dangerous for reasons like identify theft etc.
>>
>>2244319 (OP)
>no matter how stupid you think it is
how do i import my portfoli into blockfolio, i think i must be retarded
>>
>>2246387
The exchanges have their own set of wallets which hold the coins from all of their users accounts.
Its possible for you to generate your own wallet and hold your own coins in the same manner. Exchanges just abstract it up a level so its quicker for everyone involved, but this also means the coins are centralized so its a big target for hackers.
>>
>>
>>2244319 (OP)
I want to marry this girl.
>>
>>
>>
>>2244319 (OP)
Fuckable goddess. Just the way I like it
>>
>>
>>
>>
>>
>>
>>
>>2244319 (OP)
I'm looking to invest about 10k long term and hold. BTC seems like the safest option for this. Question is, do I buy in now or wait? I think it could drop to 1400 or so from what it is now, but worry with potential mass adoption going forward (Japan, India, etc) that right now the price is actually low. What do you anticipate, or is it too tough to tell right now?
>>
>>
File: 52d5eygaflsy.jpg (48 KB, 720x960)
>>2244319 (OP)
What do people use to buy coins? I registered on coinbase, but they only seem to sell three kinds of coins
How does Blockfolio work? Do you have to link it to some account somewhere? Do you add money to it and buy through it?
What's the current thought on Etherium? I considered buying in but people seem to think it will drop? Looked at Litecoin too, but it looked like some meme forced by coinbase so I feel like I should stay away
>>
>>2244319 (OP)
How do you cash ou
>>
>>2244319 (OP)
This whole thing of if you lose your bitcoins they are gone forever. How can that work properly if bitcoin became a thing that is used in everday banking with everyday people?
Banks offer to protect your money from mistakes, or theft.
Yes I know fiat is bad, but this whole "poof" its gone and you can't get it back thing just seems so risky .... will there ever be a way for people to never lose their bitcoins? Or to get them back if lost?
>>
>>
>>2244495
The Federal Reserve is privately owned by the banks in America. When it built a building in NYC and was subjected to millions of dollars in tax, they began stating that they're a government entity and should be exempted from taxation. So what are they exactly? GG USA. GG WORLD.
>>
>>2244451
>Yes, exactly. ICO is basically like IPO. Think of a coin as a stock.
no, fuck no... this is blatant bullshit...
An IPO is when a company goes public and offers shares to buy. This is called equity. You actually own part of a real company. A company that has revenue, earnings, etc, etc,
ICO are not equity in a company, but simply buying bits and bytes of a complex algorithm, or coins. You don't own part of a company. There are no revenues, earnings, etc, etc. There is only speculation of what the coin is worth.
>>
>>2244319 (OP)
What are the risks of making a fortune then not being able to cash out via coinbase/bank acct?
I want to cash out legally, pay taxes etc..(US) but will the bank freeze my acct if I make mad gains like 100k or even millions?
>>
>>2244319 (OP)
How do I buy into an ICO? I want to get bancor with some eth when it comes out, how do I do this?
>>
File: digibyte.png (956 KB, 957x564)
Shamelessly axing again
Why are there so many different coins? Why does every company that uses block chain want or need to make their own cryptocurrency?
How do I convert crypto to cash? It seems like not many people have turned crypto profits to cash money. when whales dump where are they dumping too. Are they cashing out? Wouldn't that mean they fill out 1099 each time?
Many thanks for anyone who answers
>>
>>2244319 (OP)
>fees
Yeah! Those crypto fees are totally different! Paid only $8 to transfer a few $100 worth of BTC to my wallet.
ETH ain't better lol.
>>
>>2244431
Don't listen to him. All coins are shitcoins. It's a fucking gamble driven by sentiment. Fundamentals are worth shit (because they're not real fundamentals). TA is superstition.
The only thing you can do is proper bankroll management. Yes, crypto market is more like poker than a real financial market.
>>
>>2244555
I mined ETH, so I used myetherwallet.com
Otherwise, I would recommend electrum if you want an offline wallet for btc. To buy btc or eth on an exchange, you need to sign up for an exchange (kraken is good), get confirmed and then transfer funds. Otherwise, go to localbitcoins.com and buy some btc buy getting an account and setting up a transaction with a seller. This was pretty much a google away, though
>>
>>2244319 (OP)
I been looking into NEM, is NEM a better technology than Ripple?
>>
>>2244319 (OP)
why isn't litecoin more respected?
>>
>>
>>
No comments:
Post a Comment
Public Comments