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

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Wise

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Pacni99a12 said:
You can set up an account with a site like Coinbase.com. This site allows you to purchase either Bitcoin,Ether, or Litecoin with USD. To do this you would need to link your bank account or credit card. With a credit card your purchase goes through instantly, but with the bank account it takes like 5 days to clear. Next you can transfer the Bitcoin or Ether you purchased to an exchange site like Bittrex,Poloniex, etc. On the exchange you can use the Bitcoin you transferred over to buy another coin.
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What is someone only has cash? a large amount
 
FSP

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King Ming said:
brehs what is Mining and would it be to late to get into it?
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Wayy too late. Mining takes up computer resources and the kind you would need to even get a return on investment from the sheer power consumption is out of most people's price range. Think $15,000+ rigs with 10 or more 1080Ti's running concurrently.
 
McTwerk

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yakamein said:
Anyone familiar with siacoin?
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I am sitting on 5000 Siacoin, took a dip since I bought it but rallied back overnight and today. I am holding for a while to see if it can get out of the Satoshi level and into USD cents, or perhaps dollars. Long way to go, but a short change investment for 5k shares. Good project, good ideas, but competition out there too. Worth buying 5k-10k for sub-50 bucks imo.
 
Drip Bayless

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What is the coli consensus on Ethereum? At the risk of sounding naive, this shyt seems like the Bitcoin blockchain on sterioids:picard:
 
Drip Bayless

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@heisenburrr If I have multiple wallets is it ok to use the same password generated with really strong entropy? Or at the very least can I make another one for my cold wallet and use the one I already have for my hot wallet(s). Or should I use different passwords for each but just use a password manager with the one strong entropy password
 
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heisenburrr said:
You have a backup that contains your seed (a list of words randomly generated). I would strongly advise to use additional password security which they ask when you create the wallet. That way someone who gets their hand on the paper containing your seed cannot steal your funds
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One other thing to note is that the USB cable that comes with the Ledger Nano is trash.

I had to switch cords multiple times just to get the shyt to work with the Chrome app! I've read that others have had the same issue.
 
Momentum

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Can someone please quote and answer this. One of my last questions.

Do I really need a wallet? From what I can tell it just secures my password and seed phrase, right? Why couldn't I just print that out on some paper and manually type it in when I need to use it? Assuming these sites are secure and not hacked, that's as secure as secure gets right?

Or is there a specific reason I need to get the nano? But I read that you shouldn't use it with a computer that has internet access. So how does that work?
 
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