Anyone cryptocurrency mine?

[Gasser64]

Gasser, do you play with the Fibonacci numbers, or other, to determine trends?

I've decided to go ahead and dive off into all that, but from what I've learned so far, the basic message is "Beware". The charter types all seem to say that charting works great until it doesn't. And that it should only be used as a help or guide and that its not an exact science. But I'm going to go ahead and study up heavily anyway. If nothing else just to be able to spot the classic cases, and obvious good times to buy. Fibonacci does seem to be an easy one.

For my personal take, I don't really trust it. I prefer research. Learn all there is to know about a given project. Then again I'm more of the long term hold type, and to me charting seems to be what you'd use to try to determine when something is going to take off. I'd try to buy in months before that time came. And not sell even when it takes off. Wait a year or two and maybe think about selling once its 3-10x higher than when it took off the first time.

To me, there are too many variables, too much risk in trying to determine when something is about to take off, and buying in right before then. Long term holding seems to me to be lower risk, and higher gain. Just have to have patience. Just identify a good one and buy in when its cheap, then all the charting in the world wouldn't have helped you cause you were already in, in the first place.

Warren Buffett:

"We have long felt that the only value of stock forecasters is to make fortune-tellers look good."

[Darren M]

Gasser, do you play with the Fibonacci numbers, or other, to determine trends?

[Gasser64]

Highest one I ever saw went up 3,220%. Probably higher ones exist on the timeline somewhere. Defies explanation. Unless massive whale.

But whew, finally unstuck from a position. Bought DNT at 14 cents, then it of course nose dives to 3 cents where it languishes for 4 months. Now its back up to around 30 cents. /sigh of relief.

Now that its had that first upsurge, and tanked ,and has surged again, the odds that it will ever go back down to lower levels are very small. Come on $5! Daddy needs to be rich

[DieselSmoke]

SO when I posted this months ago i wanted to mine, a friend and myself talked ourselves out of it then...but 3 months ago we bought into MULTIPLE stocks, didnt hit the big bitcoin bubble(made a little), we bought litecoin at 75, and eth at 400. Our biggest gainers have been TRX, SMN,SNT, and XRP though.

I bought XRP at .25$ and TRX at .004$.

Lets just say those 2 investments have destroyed any other investment I have ever made in my life by a LOOOOOOOOOONG shot!

XRP but my best is POE(522.45%) so far...

[zachary]

SO when I posted this months ago i wanted to mine, a friend and myself talked ourselves out of it then...but 3 months ago we bought into MULTIPLE stocks, didnt hit the big bitcoin bubble(made a little), we bought litecoin at 75, and eth at 400. Our biggest gainers have been TRX, SMN,SNT, and XRP though.

I bought XRP at .25$ and TRX at .004$.

Lets just say those 2 investments have destroyed any other investment I have ever made in my life by a LOOOOOOOOOONG shot!

[Darren M]

This will be interesting to watch. If successful, would this be considered the first "tangible commodity" backed crypto?

https://news.bitcoin.com/venezuela-mining-trading-launch-details-national-cryptocurrency/

[Gasser64]

Where do you keep all the different coins? Don't they each have a separate paper wallet and computer program?

There are many places you can keep your coins. You can do desktop wallets, paper wallets, keep it on the exchange, or there are "coin banks" that is just a server that you can log into. Keep your private keys somewhere safe. Like printed out and put into a file in your filing cabinet. The only real safe way is offline cold storage. Paper wallet or something like a Trezor. This video does a good job of explaining it. They recommend bitcoinpaperwallet.com. Obviously you'll need a printer.

What is a good exchange to use that I can get started with that isn't coinbase?

I'd give this a read. I've yet to identify the very best one, but I haven't been looking because I'm not actually trading fiat for bitcoin right now. Already invested all I could spare to invest, and back when I did it, coinbase was where I was told to go. Won't be using them anymore. They're all probably decent, and when I finally do buy more I'll probably just be looking for the one with a decent reputation and low fees. Coinbase's fees were some of the highest. I think I paid $34 in fees to buy a bitcoin. I've heard others say their fees at other places were closer to $7.

https://coinsutra.com/coinbase-alternatives/

But really education is the best thing in the world for all this. I would recommend this online course, its a whopping $10. It will get you through all the basics and you'll be a lot better off having taken it. He also has an advanced course for another $10. If you scroll down a bit you may see that the courses are much higher priced than that, but if you go to his youtube videos, I believe he puts links in the descriptions that take you to the site and the prices are adjusted much lower. He has a bunch of courses (many not related to crypto) but I'd do the "Cryptocurrency investment course 2017" and the "Cryptocurrency Long Term investment" course. I did those two, I may eventually buy the wallet one and the "Making Profits" one and and "ICO" one. I'm very wary of ICO's but if you pick the right one, that is where you can make svo money. Since if they're really hyped up, you can buy them at pennies on the dollar and on the day they hit the exchange they may go up to a dollar or more.

But I'll need to study up, the ICO craze may have fizzled out. The reputation of ICO's is pretty much in the toilet, as it became a scammer's paradise. They even made one called "Worthless Etherium Token" just to prove the point about ICO's. Last I checked the damn thing went to $36 lol. Then again there will be those awesome ones that are actually great ideas/projects that will still come along from time to time. As for the courses in the link below, just keep in mind that many of the coins he mentions are only there to be used for teaching purposes. He made the videos too long ago to go thinking about investing in the coins right away without a good update on their situation.

https://www.udemy.com/user/michaelsuppo/

Using google to search for certain topics/threads or specific coins on this website is also a huge help. It doesn't look like much but in terms of usage and members its gigantic. Their search kind of sucks but google works great to search it. If you do use it you'll be wading through all manner of FUD and people pumping their own investments, but they usually get called out on it. The info is there and you'll recognize it when the right user is spouting it.

https://bitcointalk.org/

[Jewrrick]

What is a good exchange to use that I can get started with that isn't coinbase?

[Darren M]

Yup.

[DieselSmoke]

Bought a bunch of XRP at $0.70496, killing it right now...

[03mustangdude]

Found another one that may be worth a look for people who want to set it and forget it for a couple years. Embercoin. You'll get hundreds of thousands of them for... the $100 range. Maybe a bit more, maybe a bit less. But in that area.

Looks half decent, and the idea for big, big gains is to have a shedload of coins. Or start with a shedload of money. Which most people can't do. You can't look for perfection in the ones that are less than a cent. You'll never find it. Often times they haven't even made it far enough yet to do some good marketing. Way I look at it, I've spent $100 on a lot less worthwhile shit that had no hope of helping my future.

My current list:

Coval (circuits of value)

District0x

Safe exchange coin

Bitcoin

Reddcoin

Basic attention token

Sia coin

In the past I've held OMG and Dogecoin. Think I still have some of that dogecoin somewhere. But the OMG was real good to me. If I see it dip down again after I get some more money to invest, I'll be buying more.

Also had some bitcoin cash and Tron dumped into my account on the exchange for some reason. Couple of other odd coins I never heard of. They do weird giveaways sometimes. I don't really care to follow up on why, but the BCC was duplicated for the amount of bitcoin you had at the time. I imagine some people who held on to their BCC got some rather hefty gains from that.

Where do you keep all the different coins? Don't they each have a separate paper wallet and computer program?

[Darren M]

Gasser, we should have coffee sometime. Seriously.

No homo.

[Gasser64]

Found another one that may be worth a look for people who want to set it and forget it for a couple years. Embercoin. You'll get hundreds of thousands of them for... the $100 range. Maybe a bit more, maybe a bit less. But in that area.

Looks half decent, and the idea for big, big gains is to have a shedload of coins. Or start with a shedload of money. Which most people can't do. You can't look for perfection in the ones that are less than a cent. You'll never find it. Often times they haven't even made it far enough yet to do some good marketing. Way I look at it, I've spent $100 on a lot less worthwhile shit that had no hope of helping my future.

My current list:

Coval (circuits of value)

District0x

Safe exchange coin

Bitcoin

Reddcoin

Basic attention token

Sia coin

In the past I've held OMG and Dogecoin. Think I still have some of that dogecoin somewhere. But the OMG was real good to me. If I see it dip down again after I get some more money to invest, I'll be buying more.

Also had some bitcoin cash and Tron dumped into my account on the exchange for some reason. Couple of other odd coins I never heard of. They do weird giveaways sometimes. I don't really care to follow up on why, but the BCC was duplicated for the amount of bitcoin you had at the time. I imagine some people who held on to their BCC got some rather hefty gains from that.

[Darren M]

I found a few good points in this article.

https://news.bitcoin.com/seven-deadly-trading-mistakes-every-rookie-makes/

[Darren M]

The bitcoin cash white paper has a bit more in it that makes more sense, to me. But I think you're pretty spot on. It doesn't take much to see what the inclusion in coinbase did to the price. Worth watching future offers as they are added to coinbase. (Assuming it is around, lol)

This will have some impact on BTC, amd maybe even cash.

https://www.ccn.com/better-late-than-never-segwit-2x-scheduled-for-december-28th/