Crypto

[texas]

I have understood an entire 3 words in this thread. I think they were "the", "and" and "of".

I know what Crypto is and sort of how it works. But there is far too much and the terminology around it is beyond me. For a beginner who just wants to throw a very little amount of money into it, where is the best place to start? I only just started investing at all and the platform I use doesn't current deal in Crypto (though that's supposed to change eventually).

Do I go with sometime like Coinbase, throw $100 at ETH, DOGE, BTC, or something else? Sit back and ride the wave or play the dips?

I looked at farming, but I don't have the rig to make it worthwhile and don't want to invest in that. Tell me where to start, like I am 5 or 95.

Yeah sign up for coinbase. I think you can also buy it on paypal but I heard that's a scam. I wouldn't follow the strategy that I keep posting about unless you want to gamble. If you'd rather play it safe then someone else on here should advise you.

[paco]

I have understood an entire 3 words in this thread. I think they were "the", "and" and "of".

I know what Crypto is and sort of how it works. But there is far too much and the terminology around it is beyond me. For a beginner who just wants to throw a very little amount of money into it, where is the best place to start? I only just started investing at all and the platform I use doesn't current deal in Crypto (though that's supposed to change eventually).

Do I go with sometime like Coinbase, throw $100 at ETH, DOGE, BTC, or something else? Sit back and ride the wave or play the dips?

I looked at farming, but I don't have the rig to make it worthwhile and don't want to invest in that. Tell me where to start, like I am 5 or 95.

Yeah sign up for coinbase. I think you can also buy it on paypal but I heard that's a scam. I wouldn't follow the strategy that I keep posting about unless you want to gamble. If you'd rather play it safe then someone else on here should advise you.

I'm willing to play some dips here and there, but at this time, as a novice, I mostly want it as a long term investment.

[BF004]

I have understood an entire 3 words in this thread. I think they were "the", "and" and "of".

I know what Crypto is and sort of how it works. But there is far too much and the terminology around it is beyond me. For a beginner who just wants to throw a very little amount of money into it, where is the best place to start? I only just started investing at all and the platform I use doesn't current deal in Crypto (though that's supposed to change eventually).

Do I go with sometime like Coinbase, throw $100 at ETH, DOGE, BTC, or something else? Sit back and ride the wave or play the dips?

I looked at farming, but I don't have the rig to make it worthwhile and don't want to invest in that. Tell me where to start, like I am 5 or 95.

Coinbase has annoying commission fees to send and receive money, like 1.5% each way, so already gunna be down 3% just to deposit and withdraw your money, and you can't set any buy or sell limits (that I'm aware of) without using Coinbase Pro which is kind of its own platform.

I'd recommend Voyager at this point, its simple, no commission fees, I wouldn't recommend trading a lot, because you probably aren't getting the best ask/bid or conversion rates, they gotta make their money somehow. But with the ability to set buy limits, you can still pretty much completely control the price you go in an out with. Plus they are a very wide selection of coins. Might not want to get into a lot of alt coins immediately, but nice to have that option.

Voyager does have doge, Coinbase does not. I'd stay away from doge for a while though, I'd wait till you see a good 3 touch point level of support, I think she'll keep going down over the next week or so, personally. I think its gunna go down pretty steadily for a bit.

I still like the Coinbase app though too, have nice widgets for your homescreen and stuff.

[paco]

Thanks BF. I'll check out Voyager.

[Captain_Ben]

How will bitcoin/ethereum/etc. be affected if/when central banks introduce their own digital currencies?

[texas]

How will bitcoin/ethereum/etc. be affected if/when central banks introduce their own digital currencies?

The reason I didn't get into Bitcoin in 2012 when I first heard about it is because of something like this. The USD, despite also being a fake currency with no backing, does have something that Bitcoin and every cryptocurrency doesn't have, and that's the US Army backing it up.

According to libertarian theory, eventually more efficient things always win though, so we'll see if crypto eventually lives up to the hype as a global currency that is much harder to manipulate. But the other thing is, in every free system eventually different classes form and a ruling class takes over. You can bet the existing global elites have been scheming about just how to do that with this, whether it involves outright bans "for our safety" or their own cryptocurrencies.

[Captain_Ben]

How will bitcoin/ethereum/etc. be affected if/when central banks introduce their own digital currencies?

The reason I didn't get into Bitcoin in 2012 when I first heard about it is because of something like this. The USD, despite also being a fake currency with no backing, does have something that Bitcoin and every cryptocurrency doesn't have, and that's the US Army backing it up.

According to libertarian theory, eventually more efficient things always win though, so we'll see if crypto eventually lives up to the hype as a global currency that is much harder to manipulate. But the other thing is, in every free system eventually different classes form and a ruling class takes over. You can bet the existing global elites have been scheming about just how to do that with this, whether it involves outright bans "for our safety" or their own cryptocurrencies.

These are my thoughts and why I and treading lightly in the crypto-verse. The banks are probably the most globalist and the most powerful institution in society. One of the major marketing points of crypto literally is that it works to transfer power away from centralized finance. You can't tell me that the banks aren't going to do their utmost to prevent that transfer from occurring. The governor of the Bank of England warned the Brits to buy crypto only if they are prepared to lose all of their money. It sucks but if there's one thing I've learned from investing it's that fighting the system is futile but understanding it and accepting it is a major key to success. If that makes me a doubting Thomas, then so be it. I'm not anti-crypto, just in it for a "good time, not a long time" as the saying goes.

[BF004]

Yeah, the only thing that can really put a halt on crypto just continuing to run and literally becoming the future of currency in general if powerful, well connected, centralized banks and their governments get in its way. For no other reason than it will hurt their pockets and they will lose control.

They will of course say its under the guise of protecting their stupid people who aren't smart enough to handle such a world. But for the defi people, generally a very libertarian thinking group, the decentralization is the biggest appeal of the whole thing.

[BF004]

If you aren't holding any $Link, you aren't doing crypto right.

https://chainlinktoday.com/chainlink-an ... VdxF_z4cPE

[TheGreenMan]

If you aren't holding any $Link, you aren't doing crypto right.

https://chainlinktoday.com/chainlink-an ... VdxF_z4cPE

Third largest holding.

[texas]

I'll probably get some LINK, thanks for that tip. Another one is CRO for the longer term stuff I heard from my friend who found the old BTC wallet.

Right now I have a little bit of BTC, a little bit of ETH, a good amount of VET, and then my &%$@-coin army.

[paco]

[BF004]

Yeah, Elon tanked the global market there, lol.

Bitcoin is weird, elephant in the room, it’s got horrible tech by comparison, not many uses, expensive to trade. But it’s the standard as of today.

Kind of like gold, definitely not the most functional metal, bulky, heavy, little practical use, yet it’s the standard still.

Is it early enough to replace bitcoin with something better as the flagship coin? Just need a catalyst and demand and it can change. Whether or not ethereum is the replacement is irrelevant, but will be interesting to see how this plays out.


I wonder cover to cover what the carbon footprint of the US dollar and like fiats are globally.

[APB]

Wait...now I'm confused.

What the hell is Musk going about about with environmental impact of mining a digital currency? Is this some kind of "nerd" joke or something?

[BF004]

Checkout bitcoins mines, they are insane.

They’ve been talking about mining bitcoin in the frigid temperatures of space using solar power for years.

[Pckfn23]

https://www.bbc.com/news/technology-56012952

[TheGreenMan]

There's a lot of grey area regards to the energy that BTC uses.

https://www.forbes.com/sites/lawrencewi ... 5f5f8d7e78

One of the bigger points that I make to people, and is stated in the above article, is how much energy goes into the gold (common BTC comparison) industry.

Regardless of what anyone believes, Elon knows exactly what he's doing. He didn't invest in billions of dollars into BTC a couple of months ago without knowing potential environment repercussions. What's he going to do now, say Doge is going to be accepted, which to an extent is a fork off of BTC?

You better believe there's a wallet address out there stocking up on millions of dollars of BTC currently. I'll give you one guess who it is.

[salmar80]

What if you bought.... all of the cryptoes?

(SPOILER: It's volatile with the best of them, and pretty suspect as to manipulation on one lesser known crypto end. Good luck!)

[BF004]

[BF004]

Raise your hand if you got more eth today under 2,000?