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 Crypto Currency

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Mohawk Ridge Marauders
 
 
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PostSubject: Crypto Currency   Wed Jan 03, 2018 8:18 pm

Not sure if there's any other crypto investors out there but I started dabbling in it in November.  So far I've turned 5k into 23k in just over a month.  It has been a pretty fucking wild ride.  

I've had a few fuck ups and I've learned a ton.  I'm still fucking up for that matter though.  I bought REQ at 500 10c and sold around 15c.  It's almost a dollar now.  I also bought 90,000 TRX around 3c and sold at 7c.  It's up around 12c now.  

I don't often lose but I do tend to sell too early.  So to rectify that I am making my New Year's Resolution to not make any more trades on my current holdings and see what happens by 1/1/19.  

My current holdings are:

Basic Attention Token (BAT) 5,367.  Rank 50 on CMC.  Bought in at 2,301 sats.  Currently sitting at 4,165 sats.  
Stratis (STRAT) 199.9.  Rank 30 on CMC.  Bought in at 55,000 sats.  Currently sitting at 107,100 sats.  
Icon (ICX) 450.82.  Rank 20 on CMC.  Bought in at 44,150 sats.  Currently sitting at 47,310 sats.
FunFair (FUN) 23,893.  Rank 59 on CMC.  Bought in at 350 sats.  Currently sitting at 745 sats.
EthLend (LEND) 10,691.51.  Rank 118 on CMC.  Bought in at 1069 sats.  Currently sitting at 1,264 sats.
Cindicator (CND) 15,501.  Rank 128 on CMC.  Bought in at 450 sats.  Currently sitting at 770 sats.  
XTRABYTES (XBY) 2,125.89.  Rank 85 on CMC.  Bought in at 5,431 sats.  Currently sitting at 4,999 sats.
OmiseGO (OMG) 60.46.  Rank 24 on CMC.  Bought in at 130,000 sats.  Currently sitting at 134,800 sats.
DeepBrain Chain (DBC) 7,096.05.  Rank 140 on CMC.  Bought in at 1,049 sats.  Currently sitting at 1,006 sats.
Ripio Credit Network (RCN) 2,566.23.  Rank 118 on CMC.  Bought in at 1,300 sats.  Currently sitting at 2,723 sats.
Simple Token (OST) 2,000.  Rank 195 on CMC.  Bought in at 2,000 sats.  Currently sitting at 3,303 sats.  
Po.et (POE) 5,000.  Rank 97 on CMC.  Bought in at 80 sats.  Currently sitting at 798 sats.  

(EDIT) 1/5/18 I did one last trade.  I sold my RCN at 2995 sats and exchanged it for EncrypGen (DNA) at 3651 sats.  I got 2,072 of them.  365 on CMC.  

(EDIT EDIT)  1/7/18 I did one more one last trade.  Sold DBC at 2020 sats and exchanged it for Elixir (ELIX) at 10155 sats.  I got 1,412.3 of them.  They are 292 on CMC

(EDIT EDIT EDIT) 1/7/18 I did one more last last trade. I sold my BAT at 4,790 sats and split it up between more XBY, LUX, and CAPP. I may flip the CAPP in a month but I will hold XBY and LUX long term.

LUX - Rank 429 on CMC. Bought 89.87 at 136,761 sats.
CAPP - Rank 1,106 on CMC. Bought 2,323.81 at 2,450 sats.
XBY - Rank 112 on CMC now. Bought another 1,875 at 4,033 sats.

Total portfolio value is 1.52 BTC or just over $23,000.  

To answer some questions the above is formatted in Coin name.  Ticker symbol.  Amount of coins I own of each, their current rank on Coin Market Cap - https://coinmarketcap.com/ - and my cost and current satoshi value.  A satoshi is a fraction of a bitcoin.  Think cents to a dollar.  

Coins I think are going to be amazing but I don't own for one reason or another right now are:  XLM, REQ, DRGN, IOTA, POWR, NEO, and VEN.  

If anyone is interested in getting into crypto trading let me know.  Here's my referral links if you want to sign up.

Everyone starts with Coinbase.  Here you can exchange USD for a few crypto.  None I mentioned above.
https://www.coinbase.com/join/51a4caeb98ee36837000004c

If you want to get into real trading you then need to move your funds to an exchange.  I recommend Binance as #1.  https://www.binance.com/?ref=11223100

There's other exchanges that have smaller coins but you really can't go wrong with Binance.  I also trade on Cryptopia and Kucoin.  

Cryptopia - https://www.cryptopia.co.nz/Register?referrer=Banemorth
Kucoin - https://www.kucoin.com/#/?r=1rR5a

For tracking your portfolio I like the apps Delta or Blockfolio on your phone.  

Any questions let me know.  I think this will probably be the greatest wealth generation event of our lifetimes.  If you invested $1,000 in the top 10 coins listed on Coinmarketcap last year you'd be a millionaire today.




Last edited by Mohawk Ridge Marauders on Sun Jan 07, 2018 5:38 pm; edited 5 times in total
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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 03, 2018 8:21 pm

Oh and just for funsies that XBY investment was all of my Fantasy Football winnings from this year. $720 from my work league and $200 from Roster Wars. (I rounded up and invested $1,000 so sue me.)

Be fun to see what those FF winnings are worth next year!!!


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Maplewood Doppelgangers
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 03, 2018 8:53 pm

scratch I don't know what any of that means.


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 03, 2018 8:55 pm

Everyone has heard of Bitcoin by now. Shit even the Big Bang Theory is doing episodes about it. Crypto is an alternate currency used for different things. It's easiest to think about the different coins as stocks when you're just starting out. It's the fucking wild west out there right now. I had my finger over the buy button for a coin called RaiBlocks. Was gonna by $1,000 worth. That was a month ago.

I passed on it though.

That one trade would have been worth more than $40,000 today.

shrug


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Maplewood Doppelgangers
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 03, 2018 8:57 pm

I just don't understand it all. How can fake money go up in value?


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 03, 2018 8:59 pm

Maplewood Doppelgangers wrote:
I just don't understand it all. How can fake money go up in value?

There's nearly a trillion dollars in crypto right now. (759 billion.) It's here to stay. It solves so many issues with global currency conversion, privacy, transaction delays, and so many more. Many coins with many different use cases. Banks are buying up Ripple (XRP) like there's no tomorrow right now.


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Titletown Tyrants
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 03, 2018 9:01 pm

I’m with Ben, I don’t get any of it.


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 03, 2018 9:15 pm

That's why it's still early in the game. So many great projects that solve so many issues. For example FunFair is a token that will be used in online betting & gambling. Here's the whitepaper: https://funfair.io/wp-content/uploads/FunFair-Commercial-White-Paper.pdf

Here's the biggest piece of it (IMO)

Quote :
Trust issues can keep interested would-be new gamers out of the game. Inefficient implementations
make games cost more than they should to players. Global headline-grabbing reports of wholesale
fraud and mismanagement–including the collapse of Full Tilt Poker in 2014, Absolute Poker and
UltimateBet in 2007 and 2008 deter new players from trusting online gaming in general, inhibiting
the industry’s further growth. Moving the elements of online casino gaming which are governed by
trust onto the blockchain will be the key to unlocking this wider audience of potential players.

Although traditional online games can run fast and smooth, they still have systemic disadvantages.
Operator risk, grab-and-run criminal schemes and overall game operational accountability all give
players little to no security or information about the true odds of the games they are playing. There is
no way of verifying whether they are actually getting the published odds at each spin of the wheel or
reel, or at the deal of the next hand. Existing games function inside a proprietary “black box” on an
unidentifiable remote server possibly hosted on an island on the other side of the world, and nobody
(be it players, affiliates, or operators further downstream) have the ability to audit and verify the inner
workings of the games.

Because it is based on the Ethereum blockchain, FunFair’s casino removes player mistrust from the
equation, eliminating the doubt and anxiety which are the antithesis of a fun player experience. Every
game built for the FunFair platform is provably fair, transparent and publicly auditable, so players are
always assured that the odds aren’t stacked against them (luck still a prerequisite).

That's just one coin with one use case. There are hundreds. Some for AI learning, some for feeless instant transactions, some that will put PayPal out of business. (I'm sure Andy would like that!!!)


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Alaska Arsenic
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 03, 2018 10:02 pm

This is fucking interesting as shit if you really dig into it. How does one get money in and get money out though?


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 03, 2018 10:11 pm

Through Coinbase that's the gateway. Let me know how you're planning to invest and I'll steer you right.


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Maplewood Doppelgangers
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 03, 2018 10:13 pm

Alaska Arsenic wrote:
This is fucking interesting as shit if you really dig into it.  How does one get money in and get money out though?

Yeah, for real. If you wanted to, could you just cash out and get real US Dollars?


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 03, 2018 10:21 pm

Yeah I've been trading in crypto since around August of last year and took a pretty big dive in September. Most of my trading has been with Bitcoin, Ethereum, and Litecoin. Over last 3 months I've dabbled in some of the smaller coins (Cardano, Iota, Stellar, Monero, Lisk, Verge, and Ripple) and made some 24-72 hour type trades in the tiny 'shitcoins'. Last week or two I've mostly just been HODLing Bitcoin, Ethereum, Cardano, and NEO. Sold about half my position of Ripple earlier today at avg of $3.20 (bought average around $0.22) to lock in profits. Thinking of doing the same with Cardano and possible a little of the NEO.

Crypto has been so hot the last 12 months or so. Lately I've pulled back a little locking in profits. Strange to feel bad when making a ton of money but they just keep going up and I keep thinking about how much I left on the table.


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 03, 2018 10:33 pm

Yeah Coinbase is the normal entry point for most. Once you get money in there you have a few options. If you want to trade in Bitcoin, Ethereum, Litecoin, or BCash you can move it to GDAX and trade for free with limit orders. GDAX is the exchange for Coinbase. I personally wouldn't buy through the Coinbase site/ app just due to the fees they charge.

For the other coins basically buy Bitcoin or Ethereum through GDAX and then transfer it to one of the other exchanges (Binance, Bittrex, Bitmex, Gemini, etc...).

Due to the nature of crypto and hacking (or perceived hacking) it's recommended to not leave too much of your portfolio on the actual exchanges. I usually leave a little "cash" in them to buy big dips and leave coins in only when I'm expecting to move out of them within a week or so. If planning to hold it for any length of time I move the crypto off the exchange and keep it on a Nano Ledger S (basically an offline cold storage). When just starting out and don't have a lot of crypto you can either keep it on the exchange and hope nothing happens (been pretty good lately for most part) or move it to a wallet off the exchange (either on your computer, on a flash drive, or the old pen and paper method. I know this likely doesn't make sense if just starting so do some reading about the wallets and how it actually works.

IF thinking about dipping your toe in the water realize this isn't like the normal stock exchange. Crypto makes HUGE daily swings and you have to have the stones to hold firm when big drop or be able to buy when everyone else is getting out (assuming no news which many times prices move just due to whales moving in and out of a coin).


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 03, 2018 10:38 pm

And as Justin mentioned do your research and read the whitepapers...especially if planning to hold long term. For the most part if getting in now you're missing the ICO explosion where people where starting coins with no real basis at all just to get rich quick. They would go up and then money is never seen again. Many of the whitepapers were obvious they were shit coins but such a hot market people bought anyway (yes, I learned the hard way on a couple).

You mentioned funfair and one thing I like about them is they have a working proof of concept and I've heard few interviews with Jeremy Longley and Jez A (forget his last name) and they seem to be trying to do it right. I bought some around $0.025 around Thanksgiving that I'm holding to see if it makes it. With recent rise I hadn't even noticed I may sell some of that as well.


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 03, 2018 10:41 pm

I'm going to take a look at some of these you mentioned Justin because I'm not familiar with few of them and always nice to find new coins.


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Riverside Rottweilers
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 12:23 am

Was actually talking with a few friends today about crypto investing. My biggest concern is moving money into and out of market. Does coinbase take care of all of that for the most part.

Also is this taxable income? Like if I invest a bit in crypto and transfer back a considerable larger sum of money, is my bank gonna report that to the IRS or something?

Would really love to get into investing and plan to do some more research into it before I get started. I just think the first step is to figure out the chain of money transfer and make sure that everywhere my money goes is legit for the most part.


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Tenafly Vipers
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 1:11 am

Mohawk Ridge Marauders wrote:
That's why it's still early in the game.  So many great projects that solve so many issues.  For example FunFair is a token that will be used in online betting & gambling.  Here's the whitepaper:  https://funfair.io/wp-content/uploads/FunFair-Commercial-White-Paper.pdf

Here's the biggest piece of it (IMO)

Quote :
Trust issues can keep interested would-be new gamers out of the game. Inefficient implementations
make games cost more than they should to players. Global headline-grabbing reports of wholesale
fraud and mismanagement–including the collapse of Full Tilt Poker in 2014, Absolute Poker and
UltimateBet in 2007 and 2008 deter new players from trusting online gaming in general, inhibiting
the industry’s further growth. Moving the elements of online casino gaming which are governed by
trust onto the blockchain will be the key to unlocking this wider audience of potential players.

Although traditional online games can run fast and smooth, they still have systemic disadvantages.
Operator risk, grab-and-run criminal schemes and overall game operational accountability all give
players little to no security or information about the true odds of the games they are playing. There is
no way of verifying whether they are actually getting the published odds at each spin of the wheel or
reel, or at the deal of the next hand. Existing games function inside a proprietary “black box” on an
unidentifiable remote server possibly hosted on an island on the other side of the world, and nobody
(be it players, affiliates, or operators further downstream) have the ability to audit and verify the inner
workings of the games.

Because it is based on the Ethereum blockchain, FunFair’s casino removes player mistrust from the
equation, eliminating the doubt and anxiety which are the antithesis of a fun player experience. Every
game built for the FunFair platform is provably fair, transparent and publicly auditable, so players are
always assured that the odds aren’t stacked against them (luck still a prerequisite).

That's just one coin with one use case.  There are hundreds.  Some for AI learning, some for feeless instant transactions, some that will put PayPal out of business.  (I'm sure Andy would like that!!!)

How does this remove player mistrust of the actual gambling platform? I understand using the currency to maintain an account on PokerStars, for instance, which I can't deposit into from certain American bank accounts in certain American states; and could even be subject to legal seizure. What I don't get is how this makes the backend software of the gambling platform more transparent and auditable.


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Latvia Unicorns
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 7:30 am

What I want to know from a consumer point of view is, what can I buy with crypto currency today? What can I buy with crypto currency ten years from now?


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 8:22 am

John that's awesome! I knew there had to be more than just me here and you got in way earlier. CRAZY freaking bull run going on right now. Really wish I hadn't sold my fucking TRX. It's up 170%. UGH shoot me.

Yes Ben you can cash out for real dollars.

Yes Matt it is taxable income. You need to hold for over a year so it's long term gains. Selling before that makes it short term gains and you get wholloped with taxes.

Coinbase is the USD to Crypto gateway. The way I do it is I buy LTC or ETH on Coinbase and transfer it to my exchange of choice. (They have far lower transaction fees than BTC and move faster.) Once there I exchange them for BTC because it has the most trading pairs. When you want to move back to USD you just do it in reverse! Sell for BTC, convert to ETH / LTC send to Coinbase and sell for USD.

It's totally decentralized Collin so nobody can seize anything. All transactions are completely transparent on the blockchain. You can look up the TX ID.

You can buy a ton of shit with Crypto today Ross. LTC, BTC, and ETH are the most commonly accepted. Shit you can check out on my online store and buy honey with crypto. Adoption is rapidly picking up. BTC has outrageous fees so I'd never buy using that but LTC and ETH are literally pennies. It's good shit!!!


John I actually just sold my ADA (Cardano) and moved it into FUN to increase my position yesterday. Good timing! Just wish I didn't have such fucking awful timing on TRX. Blegh. John couldn't be more right about using cold storage and having balls of steel. Panic selling is pretty much the only way you lose money in this right now. Just hold once you pick a project you like and invest.


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 8:27 am

Portfolio update - Shit went nuts overnight. Now up to 1.76 BTC value or $25,901.56. Wonder how long this bull run can go!


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Bergen Brawlers
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 8:27 am

I've been watching a few bitcoin documentaries lately. The concept that I found amazing was the mining aspect of it. It seems that it's too late to get in on that though.

As for 99% of the original post, I have no clue what you said. But great work turning a profit on this.

I'd like to get in but don't know nearly enough to feel confident that I'm doing it correctly. I've seen a lot of stories about scammers out there feeding on the hype for those looking to get into it.

Any chance you could give an idiots guide to this for someone looking to dip their toe?


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 8:34 am

Bitcoin is a fucking dinosaur. It's like crypto gold though. 99% of alt coins value is based on their worth in Bitcoin.

My idiots guide -

Sign up on Coinbase. Use the links in my post since they're referral links <3. Once there I would buy ETH. Now sign up on Binance using the link in my OP. Once you're registered you go to deposits and withdrawls and get your ETH deposit address. make sure you get the right address or you'll send your shit into the nether.

Go back to Coinbase and initiate a transfer. Send your ETH to Binance.

It'll show up usually in about 10m. Now I would buy a few coins labeled BNB. These are Binance's own tokens. Binance has a .1% transaction fee that is reduced to .05% when you pay with their tokens. No brainer IMO.

Now you can trade the rest of your ETH in ETH/ALT pairs or convert the ETH to BTC and trade in BTC/ALT pairs. The ETH/ALT pairs tend to move slower and I'm impatient as fuck so I always convert to BTC. Makes it easier for me.

Now you're ready to go. You can use the market order function for extreme simplicity or set up limit buy orders and sell orders. There's stop loss too but I really don't like those.


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 8:35 am

If anyone really wants I can make a short YouTube video of the process.


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Bergen Brawlers
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 8:40 am

Mohawk Ridge Marauders wrote:
If anyone really wants I can make a short YouTube video of the process.  

Can you do it with the exaggerated Jersey accent?


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Bergen Brawlers
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 8:41 am

Thanks for the quick intro. Now, here's the question. What am I looking for in trading or selling? In other words, am I in for the long haul or when should I jump ship? I know its a tricky question and the answer is probably to start with a small enough nut that I'm ok losing it.


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 8:46 am

I would long haul. Time in the market > timing in the market every time. Day trading leads to missing massive fucking gains like I did on Request Network (I sold at 680 sats and it's over 6,000 now.) Or TRX (I sold at 457 sats and it's around 1,500 now two days later.) Do your research and invest in projects you believe in. Then let it ride. You can start by looking at what I picked in my OP and I'd also recommend checking out VEN, NEO, and a few others.

The guys and I are going to jump on one called WANCHAIN that comes out later this month. We feel good about it.

If you want to go in with eyes wide open do some research about what happened with Mt. Gox. That's why it's important to not leave all your shit on an exchange. (Even though I do. I'm a bad, bad man.) Going to get a hardware wallet soon.


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Bergen Brawlers
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 9:20 am

I'm gonna give this a try. So I signed up with Coinbase. Still trying to get them to verify who I am though. It's a little weird that an anonymous system would require my drivers' license and a picture of me.

So once that goes, I buy ETH. It looks like I could stay there but I guess the thought is that it's more common so there's less upside. But can I just invest there if I want?

But, if I want lesser known/traded coins, I go to binance (which has more options). I get the BNB to pay transaction fees. And then convert the ETH to a binance currency to buy coins?

Does that sound about right?

And is there a binance referral link or should I just sign up for it?



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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 9:22 am

Yeah ETH is a solid investment but less upside. Here's my binance link - https://www.binance.com/?ref=11223100

You get some BNB to pay fees yes then convert the rest to BTC or just trade the ETH for the coins you want. They have a good selection of ETH / ALT pairs.


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Latvia Unicorns
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 9:30 am

Mohawk Ridge Marauders wrote:

You can buy a ton of shit with Crypto today Ross.  LTC, BTC, and ETH are the most commonly accepted.  Shit you can check out on my online store and buy honey with crypto.  Adoption is rapidly picking up.  BTC has outrageous fees so I'd never buy using that but LTC and ETH are literally pennies.  It's good shit!!!
Holy shit, you can buy kids with crypto currency?!!


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 9:38 am

I bet you can Laughing

ETA of about 30m on the video I'm uploading with a down and dirty tutorial.


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Minnesota Eternals
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 9:44 am

Wow, reading all of that can turn your brain to mush.

It's very interesting though. Part of me would love to get into it. I will keep watching this topic at least.

I think you mentioned it early on, and I know you know but just in case someone else needs to hear it...investing into things this volatile is dangerous and you should never have more than 10% of your world involved. And never invest into something unless you understand what it is.

Personally, it's attractive because the wild west state of things does likely mean one could make a lot fast. I'll be waiting for the dummies guide video. laughing


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 9:47 am

It really is like the wild west. I know people who have cashed out their 401ks and made millions but I'd never do something so risky. Granted if I did I could retire right about now but that's fine. I'm happy making what I make.

It really is the wild west out there. So much money is pouring in and people are creating vaporware projects that are a whitepaper and nothing else. Grab people's money and run. No real recourse there either. That's why it's important to do your research and not invest anything you're not willing to lose.


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Kansas City Kings
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 9:55 am

I am very intrigued by all of this, maybe it's just my circle but it seems like everyone I know is obsessing over crypto currency!

I have a long boring 16 hour shift ahead of me maybe I will try to finally dig into this more.


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Kansas City Kings
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 9:59 am

Mohawk Ridge Marauders wrote:
It really is like the wild west.  I know people who have cashed out their 401ks and made millions but I'd never do something so risky.  Granted if I did I could retire right about now but that's fine.  I'm happy making what I make.  

It really is the wild west out there.  So much money is pouring in and people are creating vaporware projects that are a whitepaper and nothing else.  Grab people's money and run.  No real recourse there either.  That's why it's important to do your research and not invest anything you're not willing to lose.

Those are stories I am interested in hearing as cautionary tale so I can avoid getting fucked.

Everyone is always talking about how much money they are making but I never hear about folks getting swindled.


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Charm City Justice
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 10:00 am

Alright, so I signed up as well, like Justin with some of my FF winnings. Just dipping my toe in right now. John said not to but on Coinbase, but do I have to make my initial investment there and then just do the rest on a different exchange or is there an entry point other than Coinbase that I should be looking at?


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Bergen Brawlers
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 10:05 am

Can anyone get past the identity verification stage? I couldn't and am now locked out for 24 hours. I am also not getting a binance e-mail verification e-mail.

On a side note, this reminds me of people who write books about making money in the market. They don't make money in the market but, rather, by selling books. Justin should get a nice haul in the referral bonuses from this.



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Charm City Justice
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 10:06 am

Bergen Brawlers wrote:
Can anyone get past the identity verification stage?  I couldn't and am now locked out for 24 hours.  I am also not getting a binance e-mail verification e-mail.

On a side note, this reminds me of people who write books about making money in the market.  They don't make money in the market but, rather, by selling books.  Justin should get a nice haul in the referral bonuses from this.


Maryland just required me to verify a phone number and email address. Seems like NJ is the problem.


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 10:15 am

Gemeni is another highly recommended USD > Crypto gateway.

I don't have an account there though.

Video is up!



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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 10:24 am

Kansas City Kings wrote:
Mohawk Ridge Marauders wrote:
It really is like the wild west.  I know people who have cashed out their 401ks and made millions but I'd never do something so risky.  Granted if I did I could retire right about now but that's fine.  I'm happy making what I make.  

It really is the wild west out there.  So much money is pouring in and people are creating vaporware projects that are a whitepaper and nothing else.  Grab people's money and run.  No real recourse there either.  That's why it's important to do your research and not invest anything you're not willing to lose.

Those are stories I am interested in hearing as cautionary tale so I can avoid getting fucked.

Everyone is always talking about how much money they are making but I never hear about folks getting swindled.

Then read up on Confido. That's an infamous one.


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Kane County Goon Squad
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 12:15 pm

was just goona ask for a video - thanks


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Nevada NightHawks
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 12:37 pm

Holy Crap, this stuff is crazy.  I've always glanced at it, but never really dug into it and now RW has me intrigued.  But it makes my head spin. dizzy  Damn you Justin! laughing


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Riverside Rottweilers
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 12:59 pm

Thank you to Justin and everyone else who commented. This thread got me to seriously look into crypto investing.

After doing some research, I created an account on GDAX (which is owned by Coinbase, the site Justin showed in the video), but has significantly lower fees (0.3% compared to 1.49%).

I setting up an account now on binance (using Justin's referral), which seems to be one of the best trading sites available (there are many).

I think the next step before buying is establishing a bitcoin wallet, which I think needs to be separate from the two exchanges. Any recommendations?


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 1:09 pm

If you're buying & holding Bitcoin you need a Bitcoin wallet otherwise you'll be transferring the BTC to an exchange in order to buy your alts.  Hardware wallets are very nice.  Check this one out it supports a TON of coins:  https://www.amazon.com/Ledger-Nano-Cryptocurrency-Hardware-Wallet/dp/B01J66NF46

Also Trezor since for whatever reason people are suddenly shitting on the Nano S. https://www.amazon.com/Trezor-bitcoin-wallet-Black/dp/B00R6MKDDE/ref=sr_1_3?s=pc&ie=UTF8&qid=1515093096&sr=1-3&keywords=trezor


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Charm City Justice
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 1:22 pm

Bought Ethereum and it proceeded to nosedive since. I also need to wait 7 days to actually own it, which I did not realize. I guess it dropping a bit is better than watching it sky rocket and not being able to cash out. This will entertain me for a while until FF comes back.


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California Nightmare
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 1:34 pm

is there a trade deadline? okay yes I am an asshole. but my point on another topic is proven here.


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Kane County Goon Squad
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 2:57 pm

California Nightmare wrote:
is there a trade deadline? okay yes I am an asshole. but my point on another topic is proven here.
Laughing Laughing Laughing


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 3:10 pm

Charm City Justice wrote:
Bought Ethereum and it proceeded to nosedive since. I also need to wait 7 days to actually own it, which I did not realize. I guess it dropping a bit is better than watching it sky rocket and not being able to cash out. This will entertain me for a while until FF comes back.

Remember you wanna try to wait at least a year to sell or you have short term gains tax which is insane.


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Bergen Brawlers
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 3:43 pm

Mohawk Ridge Marauders wrote:
Charm City Justice wrote:
Bought Ethereum and it proceeded to nosedive since. I also need to wait 7 days to actually own it, which I did not realize. I guess it dropping a bit is better than watching it sky rocket and not being able to cash out. This will entertain me for a while until FF comes back.

Remember you wanna try to wait at least a year to sell or you have short term gains tax which is insane.  

I was thinking about that earlier. What if I wanted to just buy some ETH and some LiteCoin and hold onto them for a while? It looks like there's a way to buy, "cash out" and get the code, and then hold onto it (i.e. in a safe, on a piece of paper, in a file, etc). Or am I missing something?


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Riverside Rottweilers
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 3:57 pm

Bergen Brawlers wrote:
Mohawk Ridge Marauders wrote:
Charm City Justice wrote:
Bought Ethereum and it proceeded to nosedive since. I also need to wait 7 days to actually own it, which I did not realize. I guess it dropping a bit is better than watching it sky rocket and not being able to cash out. This will entertain me for a while until FF comes back.

Remember you wanna try to wait at least a year to sell or you have short term gains tax which is insane.  

I was thinking about that earlier.  What if I wanted to just buy some ETH and some LiteCoin and hold onto them for a while?  It looks like there's a way to buy, "cash out" and get the code, and then hold onto it (i.e. in a safe, on a piece of paper, in a file, etc).  Or am I missing something?

I believe that's correct. I think you can basically do whatever you want with your crypto currency (i.e. exchange for other crypto, hold onto it in an external wallet, etc.) and the gains tax does not apply until you exchange crypto for USD.


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 04, 2018 4:32 pm

Riverside Rottweilers wrote:
Bergen Brawlers wrote:
Mohawk Ridge Marauders wrote:
Charm City Justice wrote:
Bought Ethereum and it proceeded to nosedive since. I also need to wait 7 days to actually own it, which I did not realize. I guess it dropping a bit is better than watching it sky rocket and not being able to cash out. This will entertain me for a while until FF comes back.

Remember you wanna try to wait at least a year to sell or you have short term gains tax which is insane.  

I was thinking about that earlier.  What if I wanted to just buy some ETH and some LiteCoin and hold onto them for a while?  It looks like there's a way to buy, "cash out" and get the code, and then hold onto it (i.e. in a safe, on a piece of paper, in a file, etc).  Or am I missing something?

I believe that's correct. I think you can basically do whatever you want with your crypto currency (i.e. exchange for other crypto, hold onto it in an external wallet, etc.) and the gains tax does not apply until you exchange crypto for USD.

You got it brother. You can totally use a paper wallet too just make sure you keep it super safe because if it's gone it's gone and there ain't no getting it back.


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