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

[Drip Bayless]

These b*stards at bittrex allready shutdown deposits i have to leave everything in my wallet and hope the bitcoingold price is still up on november 1st

fukk!

 

[JDH]

Binance BTC wallet isnt shut down and they're also giving btc Gold?

Binance Bitcoin Gold (BTG) Distribution Plan

 

[paperbag]

Binance BTC wallet isnt shut down and they're also giving btc Gold?

Binance Bitcoin Gold (BTG) Distribution Plan

Yeah for 20 more minutes(9am pacific), but theres already 33k+ unconfirmed transactions and i dont want to chance it. my wallet is matching for btc gold on oct 25th but they arent allowing withdrawls until nov 1st

 

[McTwerk]

@McTwerk you seem to really know your shyt breh, props.

I want to invest 10% of my income each month.

Part of that I want to invest in cryptocurrency.

I've had some interesting talks with a few investors in cryptocurrency and I am wondering your thoughts on how to start best.

1) Buy some BitCoin, Ethereum, Litecoin AND buy some smaller coins?
2) Only buy BitCoin?

Also
Strategy wise

3) Do you believe the best thing to do is buy when it's low and NOT sell, and then buy again when it's low and NOT sell and do this for a few years and then make a big bang by selling all when the price is high?

Looking forward brehs and good luck to all brehs trying this.

Honestly, I am new to this game myself and just getting started. I do 10% to 401k and have a stock portfolio that is performing well. (Thanks Nvidia!!) I am not trying to trade currencies daily or hourly to make quick profits. I only buy the coins I believe in as a project, which as of right now are BTC, ETH, GNT, FCT. I also own SiaCoin and EMC, but these are mostly gambles that I am willing to accept going to zero on, but I think could go the other way too. I will look to get into ZenCash when it pulls back (assuming it does).

A lot of this game depends on what your goals are. Do you want to buy/sell quickly to make the % returns and be a trader or do you want to invest and ride it out on certain projects? Can you stomach a one day decline of 25% on one of your investments? For me, I don't worry too much about the day to day gains/losses, unless it is truly something spectacular. For example, if one of the coins I am invested in moves 20+%, then I sell off some and move it into BTC or ETH. If it goes up say 7%, the fees associated with trading for BTC or something else isn't worth it to me.

As for buying/selling, I always buy on the dips and hold, increasing my positions on the coins I am long on. ETH is sub-300 today, to me that is a good time to buy, and if it goes from 290 to 275, I will buy more. You cannot panic sell unless there is some significant piece of news to support a decline. Lot of people say hold on humors and sell on news. I try to live by that model.

You tolerance for loss will be different than everyone elses, so no one can answer how best to invest in these offerings. They are very volatile, but if you feel that BTC, ETH or other projects are here to stay and will only continue to grow, then invest what you are comfortable with losing.

I would suggest you don't blindly buy coins based on a tweet or a blog post, but you research what the coin does, what problem is it trying to solve and how do they propose to do it, and make your decisions based on that. Start slow and dont worry about BTC being 5700 and going to 5400. Keep putting money into the coins you believe in and ride it out. (Unless you are trying to day trade, then seek someone other than me's opinion on how to do that).

Hopefully this info is helpful. I an a n00b too, but I know the stock market fairly well, and working in information security has helped me understand blockchain, smart contracts, etc and given me confidence in the things I choose to invest in.

 

[McTwerk]

For anyone wondering about the BTG fork and Trezor support:

https://blog.trezor.io/trezor-statement-on-bitcoin-gold-fork-78cebc0532c7

 

[Liquid]

i think litecoin will do better than bitcoin in the future

No, I basically use Litecoin to just transfer and then quickly dump again.

It seems like @Xyrax and I have a similar strategy. I almost always have open sell orders on alts in order to keep spreading out. The dips/spikes are too predictable with how stupid this market is.

 

[Liquid]

For those who continue to ask if it's a good time to buy...just BUY SLOW. One of the reasons people keep panicking is because they throw thousands into something and as soon as there is a dip in anyway they panic and sell.

Throw in whatever you can, see what happens and repeat it weekly. That has been my approach for years and happy where I am right now.

 

[Liquid]

Also about bitcoin gold.

Yes it is "free money", but I am dumping it. This is not a situation in where bitcoin cash that had support.

 

[-DMP-]

Yeah for 20 more minutes(9am pacific), but theres already 33k+ unconfirmed transactions and i dont want to chance it. my wallet is matching for btc gold on oct 25th but they arent allowing withdrawls until nov 1st

I sent my bitcoin to binance @ 845 (PT) but it didn't get confirmed until 0903

I checked the block height and it was below the block height where the snap shot is supposed to take place. hope I get my btcg

 

[mamba]

For those who continue to ask if it's a good time to buy...just BUY SLOW. One of the reasons people keep panicking is because they throw thousands into something and as soon as there is a dip in anyway they panic and sell.

Throw in whatever you can, see what happens and repeat it weekly. That has been my approach for years and happy where I am right now.

I have the same strategy. I drop a little in every pay period. Nothing too crazy.

Over time, it has built up pretty nicely.

 

[paperbag]

I sent my bitcoin to binance @ 845 (PT) but it didn't get confirmed until 0903

But seriously i think if your deposit is confirmed before the snapshot you should be fine

 

[Crispy]

so i finally got a coinbase account . i only have 500 in there. going to add more on a monthly basis

heres the thing tho

i set my account up using my work cell phone number

i didnt understand what 2fa is.

now that i understand it i want to switch it over to my personal cell phone number

i thought i heard switching cell numbers will lock you out of your account

is this true?

thanks for everyone giving up the game on btc

i have learned a gang of sh!t just off this one thread



edit : switching phone numbers for 2fa on coinbase is easy.

i have no idea why i thought it would lock me out

go to" security "tab click the blue "verify phone box"

follow prompts

your good

 

[BucciMane]

so i finally got a coinbase account . i only have 500 in there. going to add more on a monthly basis

heres the thing tho

i set my account up using my work cell phone number

i didnt understand what 2fa is.

now that i understand it i want to switch it over to my personal cell phone number

i thought i heard switching cell numbers will lock you out of your account

is this true?

thanks for everyone giving up the game on btc

i have learned a gang of sh!t just off this one thread

I'm not sure how the two factor works on coinbase, but on Bitrrex, you just download the Google Authentication app from the play store, and it generates a code that reset every 15-20 seconds.

 

[Crispy]

I'm not sure how the two factor works on coinbase, but on Bitrrex, you just download the Google Authentication app from the play store, and it generates a code that reset every 15-20 seconds.

i haven't even used bittrex yet.

thanks for the heads up.

im so flabby and sick the smallest tech hurdles slow me down.

im going to set up a bittrex account this week.

 

[Willie]

@heisenburrr fam... when do I move my coins from the exchange? I buy often (3 or 4 times a month) and don't want my coins going every which way. Is the wallet just for storing when I plan to buy something with the coins? Can I just leave the coins in the exchange and watch the amounts go up? Need some help dunny