MISC Crypto Crew (MCC) Vol: XII: Retirement plans and exit scams

**Gringo12** · 10-30-2018, 10:36 AM

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

------------------------------------------------------------------------------

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)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.

7)Think of not only individual position, but how they fit in your portfolio and your diversification

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.

**HeBrewHammah** · 10-30-2018, 10:38 AM

OP is a *******.

In on 1rd page

**Gringo12** · 10-30-2018, 10:39 AM

Spot sold to:

**Horse86** · 10-30-2018, 10:42 AM

oh chit....4rd post

**smackinoff** · 10-30-2018, 10:43 AM

Woo, first page. Mining rig update: I have 10 - 1080 ti's in my garage cranking away.

Buying Bitcoin when possible and just holding.

**jinda628** · 10-30-2018, 10:44 AM

Woah 1rd page.
Ok brahs, see you all later...

**SoyEnergy** · 10-30-2018, 10:50 AM

its been 13 mins since thread was created and were still on the first page? RIP crypto

**Budjola** · 10-30-2018, 10:58 AM

any1 have update how's CryptoCurve ICO doing (performance) im at work so i cant open anything.

**Mythenthefang** · 10-30-2018, 11:02 AM

1nd page

boomers paying salty no coiners to write puff pieces https://www.stuff.co.nz/business/wor...--and-now-gone

muh solution looking for a problem

bullish boyos

this is a good write-up for those of us who aren't CS brahs ********************/@acb_/plasma-8bba7e1b1d0f

**BDSMBBW** · 10-30-2018, 11:24 AM

Originally Posted by smackinoff

Woo, first page. Mining rig update: I have 10 - 1080 ti's in my garage cranking away.

Buying Bitcoin when possible and just holding.

wow nice. Which coins are you mining?

**ruskism** · 10-30-2018, 11:44 AM

read the OP for the first time

makes me cringe, but maybe im a pessimist after doing this full-time for 18 months now

**smackinoff** · 10-30-2018, 11:56 AM

Originally Posted by BDSMBBW

wow nice. Which coins are you mining?

Have it running NiceHash. Pays out in BTC.

I could use https://whattomine.com/ but then I am spending hours learning a new site and system. Nicehash has been easy and just works.

**mrc19888** · 10-30-2018, 11:56 AM

I came. I saw. I lost money.

-julius cesar

**wickedman** · 10-30-2018, 11:59 AM

In for more disappointment.

**Endgame** · 10-30-2018, 12:04 PM

In.

Sucks about PRL, the tech actually looked really interesting.

But, a name like Bruno Block for a Blockchain project, that sounds fishy from the outset.

Also, watch out for RVN. Look up the name of one of the founders, has that Bruno Block vibe to it.

**jamalfudge** · 10-30-2018, 12:07 PM

Best thread title in over a year

**propreffered7** · 10-30-2018, 12:17 PM

Originally Posted by Endgame

In.

Sucks about PRL, the tech actually looked really interesting.

But, a name like Bruno Block for a Blockchain project, that sounds fishy from the outset.

Also, watch out for RVN. Look up the name of one of the founders, has that Bruno Block vibe to it.

What happened to prl?

That was the coin doing the same chit as bat sorta, right?

**Endgame** · 10-30-2018, 12:24 PM

Originally Posted by propreffered7

What happened to prl?

That was the coin doing the same chit as bat sorta, right?

PRL was intended to be an alternative to Google AdSense, except if you owned a website, you cannot be banned from making money off of it. Google AdSense can ban you as an affiliate for whatever reason. One guy had like $15,000 outstanding and Google AdSense banned his account and said, "You violated the TOS, we cannot pay you. Btw, you're also banned, lol."

(Well, minus the lol part).

All you need is one line of JavaScript put on your website and your site will start making money with traffic through PRL. BAT is a more complex system and requires the Brave browser. It had a lot of attention because the inventor of JavaScript (powers the entire internet) is involved with BAT.

Some redditor said to watch out for PRL because the founder, Bruno Block, could potentially exit scam. Bruno Block left a compromise in the ETH/ERC-20 contract of PRL, then he re-opened an ICO on the same contract, generated $300,000 worth of PRL and deposited them at KuCoin and then limit sold (dumped) them for ETH or BTC and withdrew. KuCoin's KYC limits don't kick in for another two days. Another person took over as CEO of PRL and said we will make this right. He believes the project is still sound and they are planning on doing a token swap.

**EasTexan** · 10-30-2018, 12:25 PM

Reluctant in.

**Endgame** · 10-30-2018, 12:27 PM

^^^ Reluctant is right. Stagnating prices and the recent exit scam has left a lot of investors shaken up.

**propreffered7** · 10-30-2018, 12:29 PM

Originally Posted by Endgame

PRL was intended to be an alternative to Google AdSense, except if you owned a website, you cannot be banned from making money off of it. Google AdSense can ban you as an affiliate for whatever reason. One guy had like $15,000 outstanding and Google AdSense banned his account and said, "You violated the TOS, we cannot pay you. Btw, you're also banned, lol."

(Well, minus the lol part).

All you need is one line of JavaScript put on your website and your site will start making money with traffic through PRL. BAT is a more complex system and requires the Brave browser. It had a lot of attention because the inventor of JavaScript (powers the entire internet) is involved with BAT.

Some redditor said to watch out for PRL because the founder, Bruno Block, could potentially exit scam. Bruno Block left a compromise in the ETH/ERC-20 contract of PRL, then he re-opened an ICO on the same contract, generated $300,000 worth of PRL and deposited them at KuCoin and then limit sold (dumped) them for ETH or BTC and withdrew. KuCoin's KYC limits don't kick in for another two days. Another person took over as CEO of PRL and said we will make this right. He believes the project is still sound and they are planning on doing a token swap.

Jesus. Crazy chit

I know one dude in here liked prl

**Endgame** · 10-30-2018, 12:32 PM

Originally Posted by propreffered7

Jesus. Crazy chit

I know one dude in here liked prl

I hope this person didn't have a lot of money in PRL. The price dumped pretty hard and there is usually very limited recovery in my view when a thing like this happens. I watched a project go down a few years back because of something similar.

**RespectYourself** · 10-30-2018, 12:41 PM

In.

**Kalmah6661** · 10-30-2018, 01:27 PM

Originally Posted by Endgame

PRL was intended to be an alternative to Google AdSense, except if you owned a website, you cannot be banned from making money off of it. Google AdSense can ban you as an affiliate for whatever reason. One guy had like $15,000 outstanding and Google AdSense banned his account and said, "You violated the TOS, we cannot pay you. Btw, you're also banned, lol."

(Well, minus the lol part).

All you need is one line of JavaScript put on your website and your site will start making money with traffic through PRL. BAT is a more complex system and requires the Brave browser. It had a lot of attention because the inventor of JavaScript (powers the entire internet) is involved with BAT.

Some redditor said to watch out for PRL because the founder, Bruno Block, could potentially exit scam. Bruno Block left a compromise in the ETH/ERC-20 contract of PRL, then he re-opened an ICO on the same contract, generated $300,000 worth of PRL and deposited them at KuCoin and then limit sold (dumped) them for ETH or BTC and withdrew. KuCoin's KYC limits don't kick in for another two days. Another person took over as CEO of PRL and said we will make this right. He believes the project is still sound and they are planning on doing a token swap.

BAT will not require the Brave Browser in the near future. That part of your comment was misleading.

BAT is a far more sustainable and realistic business model than PRL. That's even more obvious after that exit scam.

**gixxer0.6g** · 10-30-2018, 01:28 PM

In on BTC thread at $6,350. At this rate, thread will fill up 2 years from now and BTC will be worth $500.

All I want is a damn Sony TV. Come on BTC!

**Omnivium** · 10-30-2018, 01:31 PM

In for more sideways action

**BDSMBBW** · 10-30-2018, 01:31 PM

Originally Posted by Endgame

I hope this person didn't have a lot of money in PRL. The price dumped pretty hard and there is usually very limited recovery in my view when a thing like this happens. I watched a project go down a few years back because of something similar.

PRL gonna be zero soon. Their new CEO's post sounded like a desperate attempt at damage control, so it would give the "team" enough time to sell off whatever they have left and leave the project for good.

**grzaskoj** · 10-30-2018, 01:33 PM

Just started day trading crypto about 2 weeks ago after paper trading on trading view for like 6 weeks. Making 1%-5% profits daily so far by just getting out when I am up and not getting greedy. Definitely in for the long haul.

**Hamzzza** · 10-30-2018, 02:42 PM

in on first page

**mrc19888** · 10-30-2018, 02:58 PM

Originally Posted by grzaskoj

Just started day trading crypto about 2 weeks ago after paper trading on trading view for like 6 weeks. Making 1%-5% profits daily so far by just getting out when I am up and not getting greedy. Definitely in for the long haul.

Real money changes those easy decisions boyo. Dont conflate paper money choices and real money

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