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Cryptocurrency |OT| Nothing from Money

Afrodium

Banned
I'm just starting to look into cryptocurrency after kicking myself for years for not having invested in Bitcoin back in 2012. I've got an account set up on Coinbase, but I'm somewhat confused by how wallets work.

From what I understand, I have a wallet for BTC, ETH, and LTC in coinbase. I set up a paper MyEtherWallet so that I can store money off of the exchange, but that wallet only stores ETH. Do most people juggle around multiple wallets for each different type of currency they're holding, or do they store long term investments like BTC and ETH in wallets and then keep shorter-term investments in various altcoins on whatever exchange they're using? And if I have a paper wallet for more stable currencies that I would buy altcoins with, I imagine I would then send money directly from my paper wallets to an exchange, in which case I'd really only need Coinbase as a way to convert USD to cryptocurrency, right?
 

DonMigs85

Member
So you create 10 mail accounts.. you get 100 dollars worth of tokens..? sounds a bit fishy to me.
I believe they have a way of telling if the emails were just very recently created or something. They have this warning:
"Notice: we have ZERO tolerance against fraudulent referrals and your account will be suspended if we determine you are involved in such activities. All signups are manually verified."
That being said, I'm taking this opportunity to shamelessly share my referral link for the folks who haven't clicked yet :p : http://bounty.authorship.com/ref/v8132700
 

golem

Member
store long term investments like BTC and ETH in wallets and then keep shorter-term investments in various altcoins on whatever exchange they're using? And if I have a paper wallet for more stable currencies that I would buy altcoins with, I imagine I would then send money directly from my paper wallets to an exchange, in which case I'd really only need Coinbase as a way to convert USD to cryptocurrency, right?

Yes. Most long term holdings should be in your own wallet(s). Any coins that you want to play with should be on an exchange. Most alt-coins are trade paired with BTC and Ethereum so you'll use that to buy/sell the alt-coins of your choice. Sometimes storing in wallets also gains other benefits. For example holding NEO in wallets (and Binance) generates GAS. Holding ARK in a wallet lets you vote for delegates which in turn usually offer daily profit sharing
 

Cipherr

Member
Be sure when converting your $ into crypto by buying on Coinbase you never buy BTC. The fee to xfer that BTC to Bittrex or anywhere else is so much higher than if you just buy LTC or ETH instead.

Im doing all LTC now, and it really is nice to save ~8+ dollars in fees and whatnot. Buying BTC is just setting money on fire. You will be able to convert it to BTC cheaper once you get it on the exchange anyway.
 

Drifters

Junior Member
Be sure when converting your $ into crypto by buying on Coinbase you never buy BTC. The fee to xfer that BTC to Bittrex or anywhere else is so much higher than if you just buy LTC or ETH instead.

Im doing all LTC now, and it really is nice to save ~8+ dollars in fees and whatnot. Buying BTC is just setting money on fire. You will be able to convert it to BTC cheaper once you get it on the exchange anyway.

This this and a thousand times this! LTC or ETH to transfer to Bittrex for alt coins.... NEVER BTC due to the fees.
 

DonMigs85

Member
Man, I keep seeing Dentacoin ads on Facebook. Seems incredibly scammy because they keep talking about the price rather than what it's actually for.
 

dno_1966

Member
Blocksafe Foundation (TRIG) guy casually posted on Tuesday in the TRIG token thread on bitcointalk.org that they would be burning 70 million of the total of 100 million tokens later this year. The current unlocked circulation is 30 million. The post seemingly had no effect on the price and no one even replied to the post. Today he tweeted the same thing and the price jumped 50% and clearly should still have room to go up just based on math. There's a lesson here.

Woke up to a huge climb this morning, fortunately i'd got some a few days ago and cashed out for a 180% increase, first time I've ever caught a huge surge, feels great :)
 

Sony

Nintendo
NEO Freefall continues. What do you guys think, is it a correction of the ginormous surge last month or is Neo going down ? It seems like a good price to buy neo but I've been monitoring its development and I've been right to hold off from buying so far. Looking at its graph, it seems it can reach sub 60

Hmm.. I expected ARK to fall to 47.. should have gotten it at 48 :( I'm such a greedy cunt.. I'll get it next time it get in in the 49-51 rangle and fucking HOLD this time
 

bigedole

Member
Ark up over 10% in the last hour. This seems to happen every few days, wish I was smart enough to understand how this works. I tried to sell high after a 15% climb last weekend and boy did that burn me. Ended up buying back in after another 15% climb. Gonna take the memes to heart, keep that crap in my wallet to collect my profit sharing and HODL.
 

Dilly

Banned
Very lucky, makes me think the best approach is to just hold small amounts in lots of coins and take the profit as and when the surges happen!?

Yup, I lost 20% after my NEO profits because I started doing panic sells and constantly buying new coins.

Now, I just dumped it all into ARK and put it in the ARK wallet waiting for my turn. All good altcoins seem to have surges anyway.
 

DonMigs85

Member
Ark up over 10% in the last hour. This seems to happen every few days, wish I was smart enough to understand how this works. I tried to sell high after a 15% climb last weekend and boy did that burn me. Ended up buying back in after another 15% climb. Gonna take the memes to heart, keep that crap in my wallet to collect my profit sharing and HODL.
It just can't seem to breach $3 but that might finally change this month.
 

Sony

Nintendo
Yes. Most long term holdings should be in your own wallet(s). Any coins that you want to play with should be on an exchange. Most alt-coins are trade paired with BTC and Ethereum so you'll use that to buy/sell the alt-coins of your choice. Sometimes storing in wallets also gains other benefits. For example holding NEO in wallets (and Binance) generates GAS. Holding ARK in a wallet lets you vote for delegates which in turn usually offer daily profit sharing

Does holding NEO on binance generate GAS or does holding Binance in a wallet generate GAS? I assume the former hehe

I think ARK will max out at 63 today and then drop to 51 area tomorrow.
 

DrM

Redmond's Baby
Looks like I managed to get ARK right on time :) It is reaching 60000 right now

somebody reading this topic probably thinks that we are ARK fan club or smth :D

NEO Freefall continues. What do you guys think, is it a correction of the ginormous surge last month or is Neo going down ? It seems like a good price to buy neo but I've been monitoring its development and I've been right to hold off from buying so far. Looking at its graph, it seems it can reach sub 60

NEO will get up, do not worry, just be patient,
 

Sony

Nintendo
NEO will get up, do not worry, just be patient,

I got 19 NEO at 67.75, that's all my NEO.

A couple of days ago there was a major pushback to Neo when it tried to go sub 65 so I figured that would be its lower limit. Reading the chart I thought it would slightly twirl up after 67, seems like I bought just a bit too early. But I think this is a good price level regardless. Especially if another surge to 79 comes about. NEO's decline growth bandwith since its significant fall on the 29th is between 79 and 68. So I would say right now 68-70 is a good buy level and 77-79 is a good sell level if you're a day trader. rinse and repeat.

So you are actually saying that it's going to go past 70k today for a new ATH?

Did you just Michael Pachter me :p?

If you look at the development of the ARK chart, there is a slight pattern noticeable since it's drop from ATH on the 29th. The delta between it's peaks and drops is roughly 0.0001 BTC, the lower limit being 48/49, upper limit being 58/59. Having said that, the pattern is a slight aggregation, it would need another cycle for me to be more confident in this statement.

In any case, I think for ARK, 55 is a good entry level to buy. Worst case scenarion: if it drops to 50 or 49, you can buy more at that point, when it rises back to 55, you can sell the initial batch you bought at 55.
Best case scenario, it goes over 65 to a new ATH :)

The thing is, while I'm writing this I'm quite confident in what I'm saying, but I don't have the balls to practice what I preach.

Btw, if you experienced TA'ers think that I'm talking shit, I would massively appreciate it if you would point out the flaws in my logic :)
 

Instro

Member
NEO Freefall continues. What do you guys think, is it a correction of the ginormous surge last month or is Neo going down ? It seems like a good price to buy neo but I've been monitoring its development and I've been right to hold off from buying so far. Looking at its graph, it seems it can reach sub 60

Hmm.. I expected ARK to fall to 47.. should have gotten it at 48 :( I'm such a greedy cunt.. I'll get it next time it get in in the 49-51 rangle and fucking HOLD this time

NEO reach sub 60 what? I think you can start buying small amount of NEO.
 

Brohan

Member
Did you just Michael Pachter me :p?

If you look at the development of the ARK chart, there is a slight pattern noticeable since it's drop from ATH on the 29th. The delta between it's peaks and drops is roughly 0.0001 BTC, the lower limit being 48/49, upper limit being 58/59.

Btw, if you experienced TA'ers think that I'm talking shit, I would massively appreciate it if you would point out the flaws in my logic :)

I'm sorry XD. Is it okay to Pachter someone if you are hoping for a different and more positive outcome though? :p
 

Sony

Nintendo
I'm sorry XD. Is it okay to Pachter someone if you are hoping for a different and more positive outcome though? :p

I wish you all the fortune in the world :p I want ARK to explode, but I want to hop on the boat before it does :p Correction: I have one butt-cheeck on the boat, want to put on the other :p I have 100 ARK
 

pieface

Member
Yep. Bought 1300 at 0.61 when u mentioned it. Bought another 700 yesterday when it dropped to 0.56. Not counting my chickens yet but if this is the next Monero then you are a Godsend.

Looking good. NAV is killing it. Just bought 4000 more at 24k. Already 30% up.
 

Sony

Nintendo
Is it still a good time to invest in NAV? I don't know anything about the tech behind it, looking for a nice profit
 

Jzero

Member
Be sure when converting your $ into crypto by buying on Coinbase you never buy BTC. The fee to xfer that BTC to Bittrex or anywhere else is so much higher than if you just buy LTC or ETH instead.

Im doing all LTC now, and it really is nice to save ~8+ dollars in fees and whatnot. Buying BTC is just setting money on fire. You will be able to convert it to BTC cheaper once you get it on the exchange anyway.
How do you convert it? Do I send my ETH to Bittrex, sell it for USDT, and then buy bitcoin?
 

Sony

Nintendo
How do you convert it? Do I send my ETH to Bittrex, sell it for USDT, and then buy bitcoin?

Nah. Just beware of Converting $/€ into Crypto. The transactions you do afterward in BTC are okay and usually the way to go.
So you buy ETH/LTC with €/$ on Coinbase, you transfer the ETH/LTC to Bittrex on any other exchange, then you sell the ETH/LTC for BTC. Then you can do your trading stuff with BTC. The biggest fee hurdle is buying BTC directly with €/$ (referred to as "fiat"). Anything you do afterwards is ok.
 

Jzero

Member
Nah. Just beware of Converting $/€ into Crypto. The transactions you do afterward in BTC are okay and usually the way to go.
So you buy ETH/LTC with €/$ on Coinbase, you transfer the ETH/LTC to Bittrex on any other exchange, then you sell the ETH/LTC for BTC. Then you can do your trading stuff with BTC. The biggest fee hurdle is buying BTC directly with €/$ (referred to as "fiat"). Anything you do afterwards is ok.
Cool got it. I've probably wasted like $100 in fees since I started on Coinbase so this is nice.

Now i'm just thinking about which on to put more money into. Probably more ARK and BAT.
 
So you buy ETH/LTC with €/$ on Coinbase, you transfer the ETH/LTC to Bittrex on any other exchange, then you sell the ETH/LTC for BTC. Then you can do your trading stuff with BTC.

Just for clarification, when you said "on any other exchange" did you mean "or any other exchange"?

Or do I need to go to another exchange to move LTC from coin base to Bittrex?
 

Sony

Nintendo
Cool got it. I've probably wasted like $100 in fees since I started on Coinbase so this is nice.

Now i'm just thinking about which on to put more money into. Probably more ARK and BAT.

Tell me about it... I did 6 transactions from fiat (better get used to the term) to BTC, at a place that charged 100 euro more for BTC than it actually is, translating to 10 euro fee on a transaction of 400 euro on average...

Hmm.. I'm concidering selling my 550 BNB right now are rebuying at 46... could minimize the damages I took from buying BNB high a week ago.. Arghhh xD
 

DonMigs85

Member
If I were you, wait until at least mid-September before considering selling your BNB. Don't get affected by the day trading itch
 

Sony

Nintendo
Just for clarification, when you said "on any other exchange" did you mean "or any other exchange"?

Or do I need to go to another exchange to move LTC from coin base to Bittrex?

Oh yeah, sorry, or any other exchange indeed. I'll try to explain it to you like you're 3, not to sound condecending, but because I'm also new to the game and if I try to explain it, I'll understand it better myself :)

Basically an exchange is like a market. Bittrex is an echange, Bitfinex is an exchange, Binance is an exchange etc. etc. The differences between these exchanges is, just like with markets, the variety of goods (read:coins) they offer and at which price/exchange rate.

In order to enter the exchange, you need to create an account. If I were you, I would go ahead and create an account on the variety of exchanges. I have an account at Bittrex, Bitfinex, Coinexchange.io (which is shit), Binance, and Liqui. Why? Because some altcoins are exclusive to a certian exchange. BQX for example can only be bought on Coinexchange.io. But don't create an account on all random exchanges you can find, there is a difference in how reliable these exchanges are. When it comes to exchanges, you should realise this: there is no quarantee whatsoever that the value you put in a market is secure. A market can seize to exist form one day to another. That's why you should never invest more money than you're willing/accepting to lose. Tip: if you intend to buy a coin and hold it for a long time/ not trade it regularly, it would be wise to store it in a dedicated wallet. I can't explain more on that because I don't have an external wallet like that.

So now moving coins. General rule: if the exchange lists a coin, you can directly move the coin to it. So in your case, if you buy LTC on Coinbase, you'll have an LTC balance. In general, your coin balances are shown in wallets. If you go Bittrex, you'll see that Bittrex has LTC. What you do is you go to Bittrex, click on Wallet on the upper right, then you'll see your wallet. If you're new to Bittrex, your wallet will be empty ofcourse. The coins that you have are under the header "Account Balances". That table has a search bar on the top right, search for LTC. Once you've done done, you'll see an LTC listing, next to it a + and a -. The + means that you want to deposit LTC, the - means that you want to withdraw LTC (to another exchange, or to cashout).

So now for transactions: When you press the +, because you want to deposit LTC, you'll get a diologue boxue saying address. If you don't have an adress already, click generate address. Now this is important to understand: this address is unique and only applicable to that specific coin of yours, on that specific exchange. That means if you have the same coin on two difference exchanges, both will have a different adress. Do not transfer any coin other than LTC to this address and the transaction might get lost. In fact, do not transfer any coin to an adress beloning to another coin. So now that you have the adress, what you need to do is, just like with mail, send your LTC to that adress, from Coinbase. I'm not on coinbase so I don't know the UI, but if you want to withdraw, you'll be asked to which adress you want to "withdraw it to". There, on Coinbase, you paste the address that was generated on Bittrex. Once you've done that, they LTC will be transferred from coinbase to bittrex :) The same goes with transferring coins from exchange to exchange: you withdraw from one exchange and paste the adress (coin specific!) of your coin, of the exchange you want to send it to.

I hope that clears it up :)
 

Danielsan

Member
How do you see where these walls are?
You can see them by clicking order book in Bittrex.

mSdKMGH.jpg
 

gaming_noob

Member
What is this "hard fork" that's supposed to happen in November that's going to get most people to sell off their altcoins and drop them by 50%? I read a few posts about it on Reddit but it's not too clear.
 

Tk0n

Member
What is this "hard fork" that's supposed to happen in November that's going to get most people to sell off their altcoins and drop them by 50%? I read a few posts about it on Reddit but it's not too clear.

there will be a SegWit2x update and block size increase for BTC in november. i dont think it will cause too much turbulence.

however, the market is growing really fast. we might be in for a large correction even before november.
 
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