OG thread: https://forum.bodybuilding.com/showt...hp?t=173249701
Vol. 1: https://forum.bodybuilding.com/showt...hp?t=174270261
Vol. 2: https://forum.bodybuilding.com/showt...hp?t=174590131
Introduction to Cryptocurrency
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 - Bitcoin Summary
Ethereum -
Ethereum for Everyone
Beginner's Guide to ETH
Where do I go if I want to get in on this???
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)
(Dollars -> BTC/ETH)
Coinbase - most newb friendly/high fees. You can buy Bitcoins and Ethereum here with your dollars.
~~~RECOMMENDED EXCHANGES (for US brahs)~~~
GDAX - owned by Coinbase. Lower fees. Cons - requires a SSN which not everyone is comfortable with
Gemini - low fees, nice interface. Cons - Takes time to get verified so you can make deposits
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Kraken - Similar wait time to get verified as Gemini, if not longer. I don't personally use Kraken but others do
Canadian brahs use QuadrigaCX
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.
(BTC -> alt coins)
Bittrex
Poloniex
Kraken also has a altcoins, being one of the only exchanges with USD -> BTC/ETH as well as BTC/ETH -> alt coins
Liquio, EtherDelta, Bitfinex are some other exchanges
Binance
Common Terminology Used
Glossary of terms
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
Useful links
OP's #1 recommended intro guide to crypto
https://mycrypto.guide/#what
Coin Market Cap - 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
Coin Crew (run by a MISC brah, a summary of things that happen in this thread/coins to watch out for
Bitcointalk - large gathering of coin talk
CryptoWatch - Price tracker for coins
Countdown for all ICOs
Ethtrader subreddit - Home of all the ETH bag holders. Good discussions there
/r/CryptoCurrency - Random discussions about random cryptos here
Bitcoin subreddit - Mothership coin gets a mention here
Great, I've got my coins now. HOW DO I KEEP MYSELF SECURE???
General security tips
Also consider getting a Nano Ledger/off-exchange wallet
[General investing tips]
-!!!!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!!
Hall of Fame MCC coins (coins recommended in previous thread that blew up]
-NEO
-OMG
- WTC
Soon?
- LPC
- LINK
- KNC
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10-11-2017, 11:42 AM #1
- Join Date: Feb 2012
- Location: Perth, WA, Australia
- Age: 31
- Posts: 13,324
- Rep Power: 63996
MISC Crypto Crew (MCC) Vol.3 Fork it ...im all in!
Last edited by Gringo12; 10-11-2017 at 12:51 PM.
Fck u james
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10-11-2017, 11:44 AM #2
In on vol 3.
Oh yeh follow my twitter: https://twitter.com/CryptoCole
MISC always gets the first calls though, after some friends via whatsapp.Last edited by GOATisLife; 10-11-2017 at 12:46 PM.
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10-11-2017, 12:24 PM #22
In to feed my addiction.
The last thread said Walton is on hitbtc. In for pump
Bitfinex. GOAT told us about it last week and it was on ANOTHER exchange I'm not on so I missed the launch. I miss so many because of all these different exchanges.
GOAT also said to never chase the pump so I'm holding back.Last edited by gixxer0.6g; 10-11-2017 at 12:43 PM.
Toxic Masculinity
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10-11-2017, 12:24 PM #23
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10-11-2017, 12:25 PM #24
Nope got a buy order at 51400
I'm slightly worried as there is almost no one selling. Check the volume of the big green candles, there is no big red candles to follow, so alot of people are holding this for longer term rather than profit taking.
Hopefully it double tops at 60k and comes back down to lower 50s.
If it crosses 60k I'll just rebuy and take the 10% loss.
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