MISC Crypto Crew (MCC) Vol.1 Ethereum is getting flushed faster than my morning deuce

[yuja]

OG thread - https://forum.bodybuilding.com/showt...hp?t=173249701

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.

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

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

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

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

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


[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 MORE!!!

[Vbrah]

in

You must spread some Reputation around before giving it to yuja again.

[zhengterry]

inn

[jj1421]

in, so is this thread going to be a merger of the eth/btc threads?

[yuja]

in, so is this thread going to be a merger of the eth/btc threads?

the old bitcoin thread more or less became the "talk about altcoin and other crypto news thread", this is just continuing that

[Vbrah]

in, so is this thread going to be a merger of the eth/btc threads?

hopefully. plus, the majority of questions that newcomers have can be answered by the OP now

[2020Wellness]

6rd

[TheDude88]

The year is 2020: Ark & Waves are trading for $500+





will bump

[Scribblies]

innn

Currently holding mostly Golem / Sia and a few other alts

( not very much as I'm poor haha )

[XPmpnII]

Up in this mug boyos

Just bought some ANS earlier

[BostonRockets]

ANS crew we up in dis

[eternalone423]

Innn

My lambo will be lime green

[Vbrah]

you guys still holding ANS? planning to sell before the conference or long-term?

[Scribblies]

I have some golem in my wallet, like the product and looks like it has potential



We colonybrahs now

Decentralised storage and computing , literally creating a rampant AI to destroy the world

[meteoraniac]

i guess im in until i drive a lambo or sleeping on the streets

[yuja]

you guys still holding ANS? planning to sell before the conference or long-term?

bit of FOMO not selling at 14 but I'm betting on the conference going well and ANS going to the moon

[jj1421]

are you guys playing around with a significant amount of your net worth? saving money outside of crypto or going all in?

i have a decent amount in my bank wasting away and don't know if i should put any more in since like 20% of my savings is already in crypto and there's always that chance this may all disappear one day, don't think i'll ever put enough in to get me to lambo land unless increases like eth happen again

[yuja]

are you guys playing around with a significant amount of your net worth? saving money outside of crypto, going all in?

i have a decent amount in my bank wasting away and don't know if i should put any more in since like 20% of my net worth is already in and theres always that chance this may all disappear one day, don't think i'll put enough in to get me to lambo land unless increases like eth happen again

Got my 401k/IRA/ESPP all taken care of, no debts, rest of the money (that I can afford to lose) is going into crypto. Just lol @ my vanguard funds getting ~18% return YTD on a "good year" when eth/an alt coin can do that in one day/week/month

plus at a younger age you can take on more risks (provided you have no outstanding loans/debts). Secret to $$ is patience in this area

[chesterr]

in on this chit to hodl

[BostonRockets]

are you guys playing around with a significant amount of your net worth? saving money outside of crypto or going all in?

i have a decent amount in my bank wasting away and don't know if i should put any more in since like 20% of my savings is already in crypto and there's always that chance this may all disappear one day, don't think i'll ever put enough in to get me to lambo land unless increases like eth happen again

I didn't put much in at all, but it grew and would be worth a decent amount of my current net worth if I were to cash out.

Which is sort of why I am willing to gamble it all in ANS. I figure since I never cashed out, my loss would only really be my initial buy in, but the potential gains are ridiculous. Like I'll never get those kinds of gains except on a lottery ticket.

[XPmpnII]

you guys still holding ANS? planning to sell before the conference or long-term?

Conference is in a few hours or so, right?

[RCore]

It's time.

[BostonRockets]

Conference is in a few hours or so, right?

Tomorrow around the same time.

After some thinking I am planning on holding my ANS.

The conference is in a god damn Microsoft building with a Microsoft speaker. Even if he doesn't announce any crazy partnership and just speaks vaguely about crypto, it shows ANS is for real not some sh!t dogecoin/Max Keiser Coin crap.

[chesterr]

thoughts on skincoin ico? i have not contributed to my first ico yet

[AboveAverage]

Ayyyy first page.

[jj1421]

thoughts on skincoin ico? i have not contributed to my first ico yet

idk much about it but i saw m0e and dazed (2 huge csgo streamers/youtubers) are following the skincoin page on twitter, could be a good sign if they decide to promote the fuk out of it since they've been involved in csgo gambling for years and have a big audience with some following them just for that

[IceCoal]

lol anyway to not make thread title as fuking gaudy as that man? just gonna attract unnecessary negative attention and get rich quick idiots. we dont need more of that.

[yuja]

lol anyway to not make thread title as fuking gaudy as that man? just gonna attract unnecessary negative attention and get rich quick idiots. we dont need more of that.

I could've made it "You won't believe these TEN EASY STEPS to get a LAMBO in one month!!...Tradies hate him!"

[IceCoal]

I could've made it "You won't believe these TEN EASY STEPS to get a LAMBO in one month!!...Tradies hate him!"

just prefer to make it more tempered man. only a handful of miscers should be even able to say lambo and crypto in the same paragraph cuz theyve made it.

[Deezenutz]

Fuk missed first page