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
Vol. 3: https://forum.bodybuilding.com/showt...hp?t=174863441
Vol. 4: https://forum.bodybuilding.com/showt...hp?t=175032101
Vol. 5: https://forum.bodybuilding.com/showt...hp?t=175123511
Vol. 6: https://forum.bodybuilding.com/showt...hp?t=175167371
Vol. 7: https://forum.bodybuilding.com/showt...hp?t=175210891
Vol. 8: https://forum.bodybuilding.com/showt...hp?t=175247631
Vol. 9: https://forum.bodybuilding.com/showt...hp?t=175280731
Introduction to Cryptocurrency
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:
(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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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.
Australian brahs use these to put FIAT into crypto
www.coinspot.com.au (you pay a premium but you also sell at a premium on this exchange so it’s ok)
www.btcmarkets.net
Or you can use coinbase (you can buy here but you can’t sell)
(BTC -> alt coins)
Binance
KuCoin
Bittrex
Common Terminology Used
Glossary of terms
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
Ethtrader subreddit - Home of all the ETH bag holders. Good discussions there
/r/CryptoCurrency - Random discussions about random cryptos here
http://www.coindesk.com - Overview of what's going on in the crypto world
http://cryptopanic.com - An aggregator of various crypto sites and news, filterable. I use the pro version to customize the feeds but the free version is good enough for most.
http://cryptomaps.org - Visualization of price across different segments, primarily hashing functions and ICO release dates
http://onchainfx.com - A better version of coin market cap, has all sort of columns and you can add flags. Only downside is it only has 61 cryptos, but its always adding news ones.
http://icotracker.net - I like this site for looking at what ICO are coming up
http://icobench.com - Another ICO tracker which does nice summaries, shows teams, milestones, financials and gives a rating for each ICO
http://solume.io - compares the number of Twitter mention increase decrease to price
http://eveningstar.io - this is basically like Morning Star except for cryptos
https://bitcoin.tax - for calculating taxes owed on your crypto gains
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]
1) Don't have more than 5-10% of your entire investment portfolio in crypto, and only invest what you can afford to have locked in for the long term.
2) Don't chase a pump
Never buy on rapid upswing on the candlestick chart if you're not sure why it happened and can't figure it out. The reason is likely that it is a Pnd. PnD is "Pump and dump" and it refers to a trading scam where people organize to coordinate the laddered purchase of an asset, then wait for others to come in at some delay and further increase the price before coordinating the unloading of their position once a specific price target is reached. This is illegal in the stock markets, but since cryptomarkets are unregulated such schemes are rampant. There are many PnD groups and today they are largely organized on Discord channels. They are now structured into tiers where the top tiers get a signal earlier than the bottom tiers and usually by the time the bottom tiers get the signal its too late, so unless you pay money to part of the top tier or have a connection with the admins its not even profitable. They are bad for the market as a whole and they prey on those who are looking for short term moons to latch onto. Don't look for things that you think will moon today, look for investments.
3) Holding will give you more returns over a year than day trading.
You will find that most people who made six figures or more in crypto did it by holding over the long term, very few get rich by day trading. That said you should definitely learn a few indicators to see if you're getting in at a reasonable entry point. I find that the MACD (moving average convergence divergence), RSI (relative strength index), market depth and support-resistance lines are the most useful indicators for crypto. MACD is useful for looking at where the long term price should be in divergence to the short term movement, RSI gives you an 0-1 rating of how overbought/oversold it is and support-resistance lines gives you a floor and ceiling for how high it will move in your buying period. If you do short term trading, do it when you have high certainty that a specific news will lead to an increase. Some of these specific events are: upcoming roadmap item releases, fork airdrops, exchange additions and partnerships. Short term buys like this are smart moves based on some underlying value assumption being changed, trading purely on volume and patterns is generally akin to gambling on markets that are as inefficient as most cryptoassets.
4) Take your time and research what you are putting your money into.
I cannot stress this enough, you are buying an asset with your hard earned money, and it should have some utility. Start by reading the whitepaper that is on the main site for the coin. You can avoid a lot of scams by simply critically evaluating the question: "Why does this coin exist?" Is it simply trying to apply a blockchain to something that doesn't need it or is there a transactional inefficiency/problem that the unique properties of the blockchain can solve? Ask yourself what value the actual token would have in the ecosystem its part of. Does it pay out some kind of dividend like some coins, or is its value in that its used as part of transaction fees and is thus being burned? You can make a simple checklist for every crypto and just answer these questions to yourself for each coin you look at:
What is the problem or transactional inefficiency the coin is trying to solve?
What is the Dev Team like? What is their track record? How are they funded, organized?
Who is their competition and how big is the market they're targeting? What is the roadmap they created?
How will they attract their target market, how is their marketing?
How does the coin derive its value? Is there some sort of dividend structure, profit sharing plan, or is it a store of value within a digital economy? What is the float schedule like going forward (ie. how many coins will be released or burned)?
5) Learn to recognize FOMO when it arises within you
If you ever feel this itch to get in on an rapid upswing because you don't want to miss out on some new development that is causing it, stop yourself from knee jerk reacting to this feeling. This is called FOMO: "Fear of missing out" and its what drives the market now. It happens to everyone and it leads to emotional investing and knee jerk buying/selling.
6) Recognize that lots of people actually are also losing money.
Right now there is a confirmation bias happening where people who get quick gains go out and brag to all their friends all over social media, leading to this illusion that making money trading crypto is a surefire way to make money. That dopamine fix you get from seeing the position double will make you feel like a genius and its human nature to want to advertise it. What you forget is that those who lose money keep quiet about it and don't advertise their failure.
7) Accept that you will miss out on a lot of moon missions, and that's perfectly okay
Right now the crypto market is like a giant dumb money party filled with coked up headless chickens running around throwing money at every ****coin with a low nominal price hoping it goes to $10,000 like Bitcoin. Everyone is a genius in a bull market, and this creates a feedback loop of more money come in. You will miss out on these gains, but don't let that get to you. By taking your time to make your decisions you end up focusing on the fundamentals rather than short term movements.
8) Think of not only individual position, but how they fit in your portfolio and your diversification
Its good to diversify across different opportunities, but too much diversification is just saying you don't feel confident about your positions and are just casting a wide net hoping to hook something. Generally 6-12 positions is the ideal diversification spread in my opinion. It gives you a good spread across sectors, doesn't spread you too thin and any more than that is too much to keep track of.
Your risk tolerance should dictate how much you allocate between your Core holdings (which are generally considered more "safe" since Bitcoin and Ethereum will be around for a long time) and the various segments. I personally am okay with a 30% core holdings, 70% across various other segments. However 60/40 splits between core and other segments is probably a good starting point for most newbies. You can make visualizations in excel with pie charts and keep tabs on your segment allocation.
9) Try to not check your portfolio more than once a day.
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Closed Thread
Results 1 to 30 of 9668
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02-02-2018, 10:24 AM #1
MISC Crypto Crew (MCC) Vol X:Crypto is red, my balls are blue, hodl the dip, btfd too
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02-02-2018, 10:26 AM #2
In for green balls
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02-02-2018, 10:27 AM #3
in
edit: spot sold to bitcoin
Squat PR: 235kg
Bench PR: 170kg
Deadlift PR: 280kg
@78kg
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02-02-2018, 10:27 AM #4
Lol, excellent title. In on this thread, which will only last 2 weeks.
MISC Blood Drive (MOD REPS): https://forum.bodybuilding.com/showthread.php?t=175220881
Start: B-175/S-185/D-185/OHP-95
Current:B-335/S-365/D-365/OHP-215
Goals: B-365/S-405/D-495/OHP-225
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02-02-2018, 10:28 AM #5
i sold at the dip
Message Sponsored By Bloomberg. Not a financial Advice
Last edited by tradiehell; 02-02-2018 at 10:37 AM.
buy high sell low - Mahatma Gandhi
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02-02-2018, 10:28 AM #6
Let's hope the next bull run starts ITT
**MFC**
**Barbara Palvin is my 10/10 crew**
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02-02-2018, 10:28 AM #7
in.
**Manchester United Crew**
**Colombian Crew**
**Make America Great Again**
**Hispanics For Trump**
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02-02-2018, 10:29 AM #8
Can someone please explain to me how to transfer BTC in my GDAX account to ETH?
I had BTC in my account and withdrew it to my coin base account and have no idea what I did… Is it in my coinbase account, even though I use GDAX? Because it just disappeared....
I thought it would transfer to USD, but that didn't happen. I was hoping to go from BTC to USD to ETH all on my GDAX. B/c I have no clue how to trade BTC to ETH on GDAX. It's so confusing
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02-02-2018, 10:33 AM #9
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02-02-2018, 10:33 AM #10
- Join Date: May 2009
- Location: Chicago, Illinois, United States
- Posts: 8,536
- Rep Power: 10310
Spot sold to BitConnect
#******* Crew#
-******* mod
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02-02-2018, 10:35 AM #11
Yes 1rd page!
Steam - jinda28
Origin - jinda628
XBLive - jinda628
Btag - blood#1648 / blood#1816
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02-02-2018, 10:35 AM #12
If you want to buy alt coins on binance do you have to exchange it with the BTC or can you also exchange with ETH?
Because they all show up as alt/btc like neo/btc or xlm/btc
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02-02-2018, 10:35 AM #13
- Join Date: Feb 2009
- Location: Arizona, United States
- Posts: 54,668
- Rep Power: 334109
Hodl gang 4 death!
Spoiler alert; you die at the end.
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02-02-2018, 10:37 AM #14
- Join Date: Mar 2009
- Location: United Kingdom (Great Britain)
- Age: 33
- Posts: 7,381
- Rep Power: 5355
Nano gang business
☆☆☆υк ¢яєω☆☆☆
Boxing crew
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02-02-2018, 10:37 AM #15
1st page
EXTREME yellow fever crew
Will wife an Asian HBB in the future crew
~keep hustling cuz~
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02-02-2018, 10:38 AM #16
Let's
guys!Steam - jinda28
Origin - jinda628
XBLive - jinda628
Btag - blood#1648 / blood#1816
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02-02-2018, 10:38 AM #17
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02-02-2018, 10:39 AM #18
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02-02-2018, 10:40 AM #19
- Join Date: Feb 2012
- Location: Perth, WA, Australia
- Age: 30
- Posts: 13,308
- Rep Power: 62660
Sold to the GOAT
Last edited by Gringo12; 02-02-2018 at 10:48 AM.
Fck u james
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02-02-2018, 10:40 AM #20
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02-02-2018, 10:41 AM #21
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02-02-2018, 10:41 AM #22
- Join Date: Dec 2008
- Location: Texas, United States
- Posts: 24,171
- Rep Power: 84627
doritos for dinner crew
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02-02-2018, 10:41 AM #23
in like flynn
LA misc crew
Misc Crypto DEEP pockets crew
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02-02-2018, 10:41 AM #24
1nd page
EDIT: sold to Cyber Physical Chain
https://coinmarketcap.com/currencies/cpchain/
0 fomo, no touristsCould have been a slayer.
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02-02-2018, 10:43 AM #25
- Join Date: Apr 2008
- Location: Georgia, United States
- Age: 31
- Posts: 571
- Rep Power: 705
In on dead BTC
"Thou shouldst eat to live; not live to eat."
- Socrates
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02-02-2018, 10:49 AM #26
In.
DCA'd the dip
HODL Crew12-5-23
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02-02-2018, 10:50 AM #27
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02-02-2018, 10:51 AM #28
- Join Date: Dec 2008
- Location: Texas, United States
- Posts: 24,171
- Rep Power: 84627
Im not buying chit yet...gimme a sign kunts
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02-02-2018, 10:52 AM #29
In on first page, spot 4 sale.
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02-02-2018, 10:53 AM #30
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