Official CryptoCurrency Thread (Bitcoin, Litecoin, Ethereum & More)

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Vinny Lupton

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Believe fake news crehbois
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FmrToken said:
@chkmeout @Lord Infamous @morris @newworldafro @goke313 @bdizzle @ℒee @AZBeauty @Johnny Kilroy @FSP @sanityovar8ted @MansaMusa @LinusCaldwell @Lootpack @Dracudiddy @Lootpack

C ryptocurrency is for all intents and purposes virtual money which can be used for an increasingly large number of transactions in real life. I am new to Bitcoin and Ethereum, two of the main currencies but I'll try to answer as many questions and post up guides as I can.

Bitcoin:
How it works -
Simplified breakdown - Still Don't Get Bitcoin? Here's an Explanation For Five-Year-Olds (:whoa: not tryna imply anything, this explanation finally got me to understand BTC)
List of Bitcoin Wallets - Choose your wallet - Bitcoin [I stand by GreenAddress, it has mobile and desktop apps]
Ways to get Bitcoin -
Upload and share pictures [upload an image and get satoshi* per view and like, instant pay out to your bitcoin wallet]
Supload - Free image hosting that earns you bitcoin [same as file.army but more popular, has a minimum you have to make before cashing out, $1.00 in bitcoin, which'll take a while]
Minegate - Bitcoin Mining - The First Shared Hardware Mining [Bitcoin Cloud mining, normally people use their own expensive hardware for mining BTC in their homes, but with cloud mining the work's done for you and this particular site gives you 50 GH/s for free, which is 3 cents a day along with other pricing plans that give you more power].
*1 Satoshi is roughly 1/1000 of a cent

Ethereum:
How it works (condensed) -
A more detailed guide (yeah yeah I know, this is way more detailed than I could get rn) -

How I started (unorthodox method)
For the times sake, I'll just say a friend got me onto this:
  1. Open Google Chrome
  2. Download the MetaMask extension (MetaMask)
  3. Open MetaMask and make an account, you'll get 1 ETH/Ethereum Coin automatically
  4. Click the Clipboard/'Copy' Icon to copy your Ethereum address
  5. Switch to Ropsten Testnet in Metamask options (this was default for me, but i'll include a pic)
  6. Get Free Ropsten Testnet Ether (EtherCamp)
  7. Click 'Get Free Ether' and paste your ETH address, I got 5 ETH (it'll take a minute or two for the transaction to be finished.
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Click to expand...



:mjpls: does the free etc thing work
 
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A homie of mine said to look at cryptocurrencies as commodities e.g. Gold, oil, whatever the fukk. But they are highly volatile, and prices spike during major events. Btc prices spiked right after brexit, and trumps victory pushed prices to around 1000usd. France will be holding their general election within the umcoming months. What will that do, especially if a conservative candidate is elected
 
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