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Cryptocurrency thread

cgilmo

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A thread for all those getting into blockchain.

What are you buying? Why are you buying it?


My holdings right now are in ETH, LTC, XRP (Ripple) and Dragon Chain DRGN.



What are you buying?

How are you buying it?

Any advice? This stuff is difficult to figure out some time so let's pool some knowledge.


A running guide to get started.

1. Coin Base. Coinbase is the place to get started for nearly everyone. It's really the only exchange I trust with my information. From here you can buy the big ones BTC, ETH and Transfer them to the smaller alt coins that are more volatile and might provide a higher return. https://www.coinbase.com/

2. Binance http://binance.com This is the exchange I use to buy alt coins. I do not purchase off of this site from a CC or bank account as I am not verified with it and there is no need to go through the process. You can buy coin off of coinbase and transfer here to complete transactions for alt coins.

3. My Ether Wallet https://www.myetherwallet.com/ Use this for all ETERIUM based coin storage. One of the more difficult things to understand is what you are buying when you buy bit coins. Using these offline wallets is different than using say a coinbase exchange. They will provide an address that you can send coin to. You take that address and save it in the wallet, moving the encrypted key to a flash drive.
 
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cgilmo

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I'm buying and selling ethirum. Been pretty volitle so far and up a few hundred bucks. I'm also very afraid.

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Aren't we all.

Just don't spend anything you aren't comfortable with losing. If you want as close to a sure thing as it gets, check out Ripple XRP. Although it's not something that will explode over night as there is a ton of it, it has a wonderful real world application and it looks to disrupt a large industry in SWIFT transactions.
 

Pinbreaker

Active member
Aug 7, 2008
9,820
Laguna Niguel, CA
I read an article last week about these and the author said BTC is like MySpace and ETH is like Facebook..

Since I searched Bitcoin and Coinbase, all my Google ads are now about Bitcoin IRA's.. :)
 

cgilmo

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I read an article last week about these and the author said BTC is like MySpace and ETH is like Facebook..

Since I searched Bitcoin and Coinbase, all my Google ads are now about Bitcoin IRA's.. :)
Probably too simple of an analogy but he's not completely wrong.

If we are looking at a currency that will likely have mass adoption I don't think BTC or Eth are it. They are all sets to the evolution of currency.

One day BTC will come crashing down and it's going to shake the crypto world to it's core. What rises from the ashes of the crash will be the winner.
 

onionring9

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Aug 7, 2008
3,471
My holdings right now are in ETH, LTC, XRP (Ripple) and Dragon Chain DRGN.
Nice! Did you get in on the ICO for DRGN? I tried to convince some friends to do it but nobody bought in, they are all kicking themselves right now. I think it ended at .03/coin and is now up to 1.16/coin :)

I'm in on about 12 coins right now. From what I hear there might be a spike in the next couple weeks on PIRL and BURST. PIRL is launching masternodes and BURST is supposed to be launching some tech that puts them in contention with the big boys. We'll see, worth fliers.
 

onionring9

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Aug 7, 2008
3,471
Probably too simple of an analogy but he's not completely wrong.

If we are looking at a currency that will likely have mass adoption I don't think BTC or Eth are it. They are all sets to the evolution of currency.

One day BTC will come crashing down and it's going to shake the crypto world to it's core. What rises from the ashes of the crash will be the winner.
It's actually pretty accurate. I compare the technology (not the currency itself) to taxis:

BTC is current taxi's (most everybody knows it and is the go-to)
ETH is uber (less expensive, faster, and technologically more advanced)
but there are more levels TBD which will override both - like how a blockchain transportation service would curb uber like uber curbs taxi's.
 

moxacaine

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Aug 7, 2008
17,338
Fredericksburg, VA
I wont touch any of it but a coworker of mine dropped 25k on etherium at about $180. it jumped up to $400 a few weeks after and I'm like dude SELLLL!!! he is like no I'm holding long term. he has since moved to a new position but saw tonight its at $840 LOL I look like a fool.

I still think this stuff is too risky. not bad for short term I guess.
 

onionring9

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Aug 7, 2008
3,471
Ripple is a great one. Was actually the first coin I ever bought. One of the most useful technologies. Was stuck around .20 for months but finally had a nice month.
 

phillyfan0417

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onionring9

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Aug 7, 2008
3,471
[MENTION=1810]phillyfan0417[/MENTION] showed me this chart.

https://www.tradingview.com/chart/B...e-Money-What-Coins-will-be-Added-to-Coinbase/

seems to reinforce the idea that XRP Ripple is the way to go.
Surprised they don't mention zcash.

I always assumed they'd go Ripple, Dash, ZCash

I'm still pissed off at IOTA. I bought at .28 and was forced to sell at .68 because bitfinix (the only exchange you could get it on) shut down to US customers so I had to move it...
 

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