MISC Crypto Crew (MCC) Vol.4: Bitcoin Wars Episode IV: Revenge of the Core
OG thread: [url]https://forum.bodybuilding.com/showthread.php?t=173249701[/url]
Vol. 1: [url]https://forum.bodybuilding.com/showthread.php?t=174270261[/url]
Vol. 2: [url]https://forum.bodybuilding.com/showthread.php?t=174590131[/url]
Vol. 3: [url]https://forum.bodybuilding.com/showthread.php?t=174863441[/url]
[img]https://i.imgur.com/yDarwLF.jpg[/img]
[B][size=+2][url=http://www.investopedia.com/terms/c/cryptocurrency.asp]Introduction to Cryptocurrency[/url][/B][/size]
The two "big" Crypto's are Bitcoin (the OG) and Ethereum (ETH). There are hundreds, maybe even thousands of other coins but all flow through ETH/BTC (mostly BTC). As a trader you will mostly be trading your $$ into Bitcoin to invest in these other coins.
Bitcoin - [url=https://www.reddit.com/r/Bitcoin/comments/1r7wmh/hello_i_summarized_what_i_could_find_out_about/]Bitcoin Summary [/url]
Ethereum -
[url=********************/@Ethereum_AI/ethereum-for-everyone-2846efa35815] Ethereum for Everyone [/url]
[url=https://docs.google.com/document/d/19Orqm9sfoRcCgn1FTp_h2qIFgjeS7-LB6krKHhFCFuI/edit]Beginner's Guide to ETH [/url]
[size=+2][B]Where do I go if I want to get in on this???[/B][/size]
The only ways to buy bitcoin/ethereum with your dollars are through these things called exchanges.
Examples of exchanges: (links to each exchange will be added later)
[B](Dollars -> BTC/ETH)[/B]
[url=https://www.coinbase.com/]Coinbase[/url] - most newb friendly/high fees. You can buy Bitcoins and Ethereum here with your dollars.
~~~RECOMMENDED EXCHANGES (for US brahs)~~~
[url=https://www.gdax.com/]GDAX[/url] - owned by Coinbase. Lower fees. Cons - requires a SSN which not everyone is comfortable with
[url=https://gemini.com/]Gemini[/url] - low fees, nice interface. Cons - Takes time to get verified so you can make deposits
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[url=https://www.kraken.com/]Kraken[/url] - Similar wait time to get verified as Gemini, if not longer. I don't personally use Kraken but others do
Canadian brahs use [url=https://www.quadrigacx.com/]QuadrigaCX[/url]
from these above exchanges, you can take your dollars and convert them to Ethereum or Bitcoins. Now..you could just hold these coins and be happy, or you could explore into the world of alt coins.
[B](BTC -> alt coins)[/B]
[url=https://bittrex.com]Bittrex[/url]
[url=https://poloniex.com]Poloniex[/url]
Kraken also has a altcoins, being one of the only exchanges with USD -> BTC/ETH as well as BTC/ETH -> alt coins
[url=https://liqui.io/]Liquio[/url], [url=https://etherdelta.github.io/]EtherDelta[/url], [url=https://www.bitfinex.com/]Bitfinex[/url] are some other exchanges
[url=https://www.binance.com]Binance[/url]
[size=+2][B]Common Terminology Used [/B][/size]
[url=https://www.reddit.com/r/ethtrader/comments/6igtto/ethtrader_glossary_of_terms/]Glossary of terms [/url]
Way too many to list so I will just put down a few most commonly used, please refer to the link above ^ for a broader list of terms. Google is your friend!
Fiat - Government-issued currency, such as the US dollar.
ICO - Initial coin offering. Crypto's version of an IPO
FOMO - Fear of missing out.
FUD - Fear, Uncertainty, Doubt. Basically people spreading chit to try and get ppl scared so they'll sell at inopportune moments
Hodl - Crypto folk's version of the word "hold"
Pump And Dump - The recurring cycle of an altcoin getting a ton of attention, leading to a fast price increase, and then of course followed by a huge crash.
Shilling / pumping - Someone essentially advertising another crypto-currency for their own personal gain. If a coin is promised to cure cancer or be the second coming of Jesus, it's being shilled.
Altcoin - Generally any crypto-currency other than Bitcoin or Ethereum. (Though some Bitcoin folks would probably still say Ethereum is an altcoin)
ATH - All time high
Bearish - Expecting prices to decrease
Bullish - Expecting prices to increase
Going long - A margin trade that profits if the price increases.
Going short -A margin trade that profits if the price decreases.
MEW - MyEtherWallet
[size=+2][B]Useful links[/B][/size]
OP's #1 recommended intro guide to crypto
[url]https://mycrypto.guide/#what[/url]
[url=https://coinmarketcap.com]Coin Market Cap[/url] - Basically an index of all coins with how much volume is being traded, price, %change, market cap, and also has a tab where you can see exactly which exchanges any particular coin is being traded on. HIGHLY RECOMMENDED
[url=https://coincrew.org]Coin Crew (run by a MISC brah, a summary of things that happen in this thread/coins to watch out for [/url]
[url=https://bitcointalk.org] Bitcointalk - large gathering of coin talk [/url]
[url=https://cryptowat.ch/]CryptoWatch [/url] - Price tracker for coins
[url=https://www.icocountdown.com/]Countdown for all ICOs [/url]
[url=https://www.reddit.com/r/ethtrader/]Ethtrader subreddit [/url] - Home of all the ETH bag holders. Good discussions there
[url=https://www.reddit.com/r/CryptoCurrency/] /r/CryptoCurrency [/url] - Random discussions about random cryptos here
[url=https://www.reddit.com/r/Bitcoin/] Bitcoin subreddit [/url] - Mothership coin gets a mention here
[size=+1][B]Great, I've got my coins now. HOW DO I KEEP MYSELF SECURE??? [/B][/size]
[url=https://www.reddit.com/r/ethereum/comments/6fr2lx/updated_its_time_to_get_real_stop_relying_on/]General security tips[/url]
Also consider getting a Nano Ledger/off-exchange wallet
[size=+2][b][General investing tips] [/b][/size]
-!!!!GOLDEN RULE!!! - Don't invest more than you are willing to lose. Crypto can be great profits but it can all disappear in an instant as well
-Do YOUR OWN research on any coin before making an investment in it. Don't just listen to some other person and buy it without doing your due diligence. A lot of people will talk up any coin they own shares up (shilling) while some may even spread FUD about other coins
-General ideas of coins with potential: good dev team, solid community (active subreddit/slack channels), small market cap (WITH POTENTIAL TO GROW), and of course..a great product
-Veterans (me not being one of them as I'm about a month deep in crypto) stress to HODL - Don't panic sell your coins just because they're having a bad day. If you believe in the coin, the technology, and the devs...BUY THE ****ING DIP!!
[size=+1][b]Hall of Fame MCC coins (coins recommended in previous thread that blew up] [/b][/size]
-NEO
-OMG
- WTC
[size=+1][b]Soon? [/size][/b]
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