CryptoCra$h - Prepare your Angus

[KC]

Originally Posted by KC

Every year before the new year, it tanks. Then steadily rises. It may be a wild ride this year for other reasons, mostly USA governance.

HoDL

*cough*

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[BaudouinSamuel]

Originally Posted by KoalaSlim

DISCLAIMER: ALL INFORMATION IN THIS THREAD IS OPINION AND NOT FINANCIAL ADVICE. PLEASE DO YOUR DUE DILIGENCE.

Welcome to the CryptoCurrency thread! Please join us in discussing all aspects of cryptocurrency investing and mining! Please read through the following FAQ. Let us know if you have any questions after you have learned the ropes. Please, keep in mind this is a very volatile and experimental asset class. ONLY INVEST WHAT YOU CAN AFFORD TO LOSE.

Want to jump in and buy crypto coins with USD?

Sign up for one of the following exchanges:

https://www.coinbase.com/
https://gemini.com/
https://www.kraken.com/

We have the most experience with CoinBase, and we can answer your questions. You will need to verify and link your bank account, and provide copious amounts of personal information. Once you have your bank verified, it takes approximately one week to clear funds or buy directly from bank account. Plan accordingly. Think ahead. Wire transfer the money to Coinbase. Wait for it to clear. Transfer it onto GDAX for free, and pay less trading fees.

Consider signing up for TWO conduits. Sometimes the sites go down during peak usage. It's good to have two different ways to move money into and out of the market. Gemini is becoming increasingly popular among our users as a good alternative to CoinBase.

To those worrying about the USD deposits to CoinBase not showing up, don't worry they will. I had a black period of a few days recently but it did pop up eventually.

Want to have access to AltCoins that aren't available on the above sites?

Join one of the following coin to coin exchanges:

https://www.binance.com/
https://www.bittrex.com/
https://www.kucoin.com/


On these exchanges you can buy many different coins/tokens with your BTC or ETH.

For example you will locate your ETH wallet on Binance, send coins from your CoinBase ETH wallet to your Binance ETH wallet. Then, you can find the token or coin you would like to purchase, and find that ??? / ETH pair on the Binance exchange. The exchange operates like many other market trading platforms. Google "market order" "limit order" and get used to the interface with small trades.

Are you interested in learning more about crypto through videos and tutorials?

Andreas Aantonopolous has an archive of videos that will explain the concepts and ideas behind cryptocurrency, and the economy of the digital realm:
https://www.youtube.com/channel/UCJW...annel=aantonop

Ivan on Tech has some great videos covering concepts:
https://www.youtube.com/channel/UCrY...nel=IvanonTech

Chris Dunn is a level headed dude that has been involved with crypto for a long time:
https://www.youtube.com/channel/UCdC...nnel=ChrisDunn

How do I store my coins long term, safely?

Leaving assets floating around the exchanges is not a smart plan. Invest in a good hardware wallet, and get your coins off the internet and under your control. The following are excellent hardware wallets with proven security features:

Ledger Nano S: https://www.ledgerwallet.com/

Trezor: https://trezor.io/

Are you worried about tax season and the IRS?!

The IRS classifies crypto as property, not currency. They view trading these assets the same as they view stocks. The same concepts of short/long capital gains apply here, and you are required to keep track of your trades and profits, as the exchanges do NOT generate tax forms, just spreadsheets to help you in your calculations. Please keep detailed records of your trades as you go, or use one of the following resources to track your activity for you:

https://bitcoin.tax/
https://cointracking.info?ref=K705430 The link is a referral link, and you will receive 10% off for using it, and I get a reward also!

Because crypto is property, some people argue that the idea of a "like kind exchange" should apply if you are trading coin for coin. This is a grey area, and the IRS has not clarified that this applies to crypto.

https://en.wikipedia.org/wiki/Like-kind_exchange

As tax season approaches, you will see more discussion relating to taxes.

LIST OF ADDITIONAL USEFUL SITES:

https://coinmarketcap.com/ Market caps and more.
https://www.worldcoinindex.com/ Live market cap and more. Thanks Sebtarta!
https://cryptowat.ch/ Live charts.
https://www.reddit.com/r/CryptoCurrency/ Gossip and news (beware the shill armies and FUD campaigns).
https://www.coindesk.com/ Articles.
https://coin.dance/ Technical Bitcoin information.
https://github.com/ Open source code and watching project progress.
https://smartoptions.io/icos/ ICO news.
https://ethplorer.io/ Ethereum explorer tool for tokens.
https://masternodes.pro/ Information on Masternode costs and profits.
https://www.coinscalendar.com/ Upcoming Crypto events.
https://dpostools.com/LISK Lisk voting optimization tools.
http://unchainedpodcast.co/ Good Podcasts.


Useful Terms and Acronyms:

ADDRESS - Two "keys" one public one private. One you keep safe, used to send funds. One is public, given to others to route $$ to your address.
ALTCOIN - A coin other than Bitcoin.
ATH - All Time High.
BAG HOLDER - A person who holds coins in quantity, waiting for a rally.
DAPP - Decentralized Application.
DCA - Dollar Cost Average.
DPOS - Delegated Proof Of Stake.
DUMP - To sell off a coin.
FIAT - Regular Money.
FOMO - Fear Of Missing Out.
FUD - Fear Uncertainty Doubt.
HARD FORK - A protocol software upgrade that is not backwards compatible.
HODL - Hold!
ICO - Initial Coin Offering.
LARRY - We don't like Larry.
LEROY - We like Leroy.
MCAP - Market Cap.
MINING - The minting of new coins.
MOON - Strong upward movement of price.
OTC - Over The Counter.
P2P - Peer To Peer.
POS - Proof Of Stake.
POW - Proof Of Work.
PRIFUT - Profit.
SAT - Satoshi. 1 Bitcoin = 100,000,000 Satoshi.
SEGWIT - Segregated Witness. A software upgrade for Bitcoin.
SHILL - Individual that hypes a coin, usually for personal gain.
****COIN - A coin that has little to no tech or use case, invented for PnD.
SOFT FORK - A protocol software upgrade that is backwards compatible.
TA - Technical Analysis.
UAHF - User Activated Hard Fork.
UASF - User Activated Soft Fork.
WHALE - A holder of vast quanities of a coin, with weight to move the market.


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Currency that could worth $2100 today and $1 tomorrow?

[KC]

And away we go....

Like away... out of my wallets.

[shiplemw]

Nice to see stellar back in the top 20. I liked the base purpose of that coin. At one time you could use your coins to help others and get a return, I can't remember if I signed up for that or not. I should probably dust off my electronic wallet and verify my coin values.

[BacDoc]

Originally Posted by KC

And away we go....

Like away... out of my wallets.

Make it stop. Or double down?

[KC]

Me, I'm thinking Hodl and maybe buy. Much of it was driven by asain mkts, and tariff scares.

[BacDoc]

Originally Posted by KC

Me, I'm thinking Hodl and maybe buy. Much of it was driven by asain mkts, and tariff scares.

I'm holding my bitcoin forever. Ima live or die on it. Now if XR would hold around $3 please...

[KC]

Originally Posted by BacDoc

I'm holding my bitcoin forever. Ima live or die on it. Now if XR would hold around $3 please...

Xrp? Yeah. The utility of it is fantastic. Just need to wait a few months more I believe.

[BacDoc]

Originally Posted by KC

Xrp? Yeah. The utility of it is fantastic. Just need to wait a few months more I believe.

I hope so. I got in around $2. I bought DOGE too for fun and games. I'm in around $.07-.08 I think.

[samagon]

I was in XRP when it was under .10, but sold because I consolidated everything into more well known coins in Coinbase when Binance was kicked out of USA.

I recently got back in when it crested $2, and then again I had a buy marker at $2 so I got more over the weekend.

granted I'm in the aim small miss small, so I don't feel bad about what I missed by getting out of it when it was still under .10. but at the end of the day, I've been investing what I would normally risk when I'm in Vegas, and have enough to buy a pretty ok new car today, so I'm not disappointed and certainly not running away now.

[BacDoc]

Originally Posted by samagon

I was in XRP when it was under .10, but sold because I consolidated everything into more well known coins in Coinbase when Binance was kicked out of USA.

I recently got back in when it crested $2, and then again I had a buy marker at $2 so I got more over the weekend.

granted I'm in the aim small miss small, so I don't feel bad about what I missed by getting out of it when it was still under .10. but at the end of the day, I've been investing what I would normally risk when I'm in Vegas, and have enough to buy a pretty ok new car today, so I'm not disappointed and certainly not running away now.

Same. I like crypto but not enough to put my life savings into it. It could all go away and I'd sleep ok.

[KC]

Personal opinion here, I think the real-world utility of XRP is greater than any other cypto out there. It's literally aimed at banks and making financial transactions, especially cross-border, easier and cheaper.

[samagon]

Originally Posted by KC

Personal opinion here, I think the real-world utility of XRP is greater than any other cypto out there. It's literally aimed at banks and making financial transactions, especially cross-border, easier and cheaper.

and that was my understanding as well, which if that's the case, it needs to be stable value, which was why I dropped my position.

[shiplemw]

Stellar was similar, transfer of money at a high level, fast, low cost. I liked their idea. But I haven't bought crypto in years.

[KC]

Originally Posted by KC

Xrp? Yeah. The utility of it is fantastic. Just need to wait a few months more I believe.

Good news! The Dacia Sandeo can be....

Oh, sorry, wrong programme...

The SEC dropped the suit against Ripple this morning.

:moon: :rocket:

[samagon]

everything is headed to the moon right now, but XRP is definitely leading the charge.

[KoalaSlim]

Originally Posted by samagon

everything is headed to the moon right now, but XRP is definitely leading the charge.

[BacDoc]

Originally Posted by BacDoc

Make it stop. Or double down?

I should've doubled down.

[samagon]

looks like we'll get another chance to double down, moon launch went space X.

[KC]

Originally Posted by samagon

looks like we'll get another chance to double down, moon launch went space X.

As I said above, need a few months. Some (US banks) were waiting before the announcement to even START working on allowing them in their systems out of fear of wasting their money on something (and a team) that wouldn't be implemented - where some of the bigger banks had some $$ thrown at "use cases" and "testing" and should be able to make the transition quicker.

Remember Ripple is to ease thecost and speed of cross border payments, while allowing tracking. You can't integrate this overnight.

That said....

C'mon... do something (Poke) -> XRP