Bitcoin currency of the future?

[CerebralKnievel]

What sources do you guys use to get your crypto information?

Basically this thread, where Swami, Nick and RJ boil everything down to a digestible level for me to confirm later. If you really want to dig into it, there are reddit forums where all of the Cryptos are discussed. You can check the sites for any blockchain company and peruse their mission statement and white paper.

Most of the best ones have been suggested repeatedly in this thread.

Here is a decent post with a ton of links to informative sites:

 

[faustian]

I'm quite curious to see how it will work. I guess it's the 1st government launched cryptocurrency, and Venezuela has all the interest to keep it afloat. Doesn't mean they will be able to do something significant with it, but it's a move to watch.

Venezuela has not the best credibility right now, and most opinions on the article seem to be predicting a failure, but I could bet that some countries like Japan, the non-€ scandinavian countries, Singapore and maybe some others will have a serious look on the PETRO evolution.

Weirdest thing is that it's supposed to be backed by oïl, while this being illegal in Venezuela.
Still, Venezuela has not much to gain if it's a scam, except short term gains, since their credibility would take a fatal hit

Edit add: And for the not supporting countries tied to terrorism or violation of human rights... well, the list gets quite short

A global petro-backed currency already exists. You likely have some of it in your wallet

 

[SwamiLeoni]

What sources do you guys use to get your crypto information?

Here's some Standard Work -

Go to coinmarketcap.com
Click on a coin
Go down to the Webpage link
Click the webpage link to go to their site
Read their whitepaper

AFTER

Go to coinmarketcap.com
Go down to the 'Social' Tab
Scroll down and find the Reddit page
Go to their Reddit page and look for 'All in one' type of threads.

This should be a good starting point for you.

I've given up on researching all the coins I used to. It just became so overbearing so I picked a couple I think have a bright future and I'm letting it ride. If you have questions about certain coins, I'd be glad to look into it for you. Remember, there are pro's and con's to taking people's opinions online.

Pro's
You don't have to reinvent the wheel. Many people out there will do wonderful research on coins and do great in-depth analysis.

Con's
Some of those people shill for profit or to pump their coins

It takes a while to read through the lines, but eventually you'll get there.

My advice, pick coins with great partnerships and fundamentals and let it ride. Blue Chips are always a safe bet (BTC / LTC / ETH / NEO ect.)

Doug Polk and Boxmining are two great YouTube channels.

 

[RagingBeringola]

Here's some Standard Work -

Go to coinmarketcap.com
Click on a coin
Go down to the Webpage link
Click the webpage link to go to their site
Read their whitepaper

AFTER

Go to coinmarketcap.com
Go down to the 'Social' Tab
Scroll down and find the Reddit page
Go to their Reddit page and look for 'All in one' type of threads.

This should be a good starting point for you.

I've given up on researching all the coins I used to. It just became so overbearing so I picked a couple I think have a bright future and I'm letting it ride. If you have questions about certain coins, I'd be glad to look into it for you. Remember, there are pro's and con's to taking people's opinions online.

Pro's
You don't have to reinvent the wheel. Many people out there will do wonderful research on coins and do great in-depth analysis.

Con's
Some of those people shill for profit or to pump their coins

It takes a while to read through the lines, but eventually you'll get there.

My advice, pick coins with great partnerships and fundamentals and let it ride. Blue Chips are always a safe bet (BTC / LTC / ETH / NEO ect.)

Doug Polk and Boxmining are two great YouTube channels.

Thanks for all your input in the thread, while always staying calm and helpful. You've been a real MVP and a calming voice to some quarrels that have been going on.

And I confirm that the Doug Polk Crypto Youtube channel is quite interesting (thanks to Der Eisbär for pointing that one earlier).
---------
For those who give a **** about what other people are doing:

I finally managed to register to an exchange platform and purchase some coins.

Since I'm from a country not supported by coinbase, I opened an account in bitFlyer, a japanese crypto platform that just arrived to Europe. I actually tried with bitstamp, but after 4 weeks without having the account verified, i tried my luck with bitFlyer and they were really fast.

Since they only deal with fiat and bitcoin, I opened an account in KuCoin so I could purchase other coins that seem more interesting than bitcoin in my eyes. I might have to open a binance one too, since some coins seem to be available there but not in KuCoin.

As for coins, after reading all the pages in the local 2 topics about cryptos, I went with:

Bitcoin - 25% (+20% still to be allocated)
Ethereum - 25%
Neo - 10%
VeChain - 5%
Walton - 5%
Oysterpearl - 5%
Powerledger - 5%

The 20% are from the original bitcoin purchase that i still keep aside since I'm looking for some interesting coins to buy.

 

[JonesBones]

Again, I am looking at the charts on these coins and all the big ones look exactly the same. It is like they were traced over bitcoin.

 

[RagingBeringola]

Some news about the new venezuelan petro crypto found in reddit:
https://www.caracaschronicles.com/2018/02/22/petro-hasnt-raised-dime/

 

[Nik123]

What sources do you guys use to get your crypto information?

There's a never-ending list of sources one can use to look into things/research etc.

But some mainstays include -

-Coinmarketcap (market movements, coin capitalisation etc)
-Cryptocurrency Reddit (general crypto chat)
-CryptoMarkets Reddit (markets specific chat)
-Coin Telegraph (news site)
-Coin Desk (news site)
-Youtube (several large crypto channels)
-Telegram (you can join individual project chat groups, most are crap flooded with memes and 'when moon' chat, others encourage more serious conversation, like the Ethos telegram chat. The main value proposition here to actually ask questions directly to project leads, admins etc)
-Bitcoin talk org (large general forum)

 

[SwamiLeoni]

Thanks for all your input in the thread, while always staying calm and helpful. You've been a real MVP and a calming voice to some quarrels that have been going on.

And I confirm that the Doug Polk Crypto Youtube channel is quite interesting (thanks to Der Eisbär for pointing that one earlier).
---------
For those who give a **** about what other people are doing:

I finally managed to register to an exchange platform and purchase some coins.

Since I'm from a country not supported by coinbase, I opened an account in bitFlyer, a japanese crypto platform that just arrived to Europe. I actually tried with bitstamp, but after 4 weeks without having the account verified, i tried my luck with bitFlyer and they were really fast.

Since they only deal with fiat and bitcoin, I opened an account in KuCoin so I could purchase other coins that seem more interesting than bitcoin in my eyes. I might have to open a binance one too, since some coins seem to be available there but not in KuCoin.

As for coins, after reading all the pages in the local 2 topics about cryptos, I went with:

Bitcoin - 25% (+20% still to be allocated)
Ethereum - 25%
Neo - 10%
VeChain - 5%
Walton - 5%
Oysterpearl - 5%
Powerledger - 5%

The 20% are from the original bitcoin purchase that i still keep aside since I'm looking for some interesting coins to buy.

Thanks man, I appreciate that. Cyrpto seems like something people can get really passionate about. More than anything, I'm just having a lot of fun with it. Exciting times.

Both Binance and KuCoin are great exchanges. I've used Binance primarily with Gate.io for a couple of coins that aren't on Binance. I'd strongly suggest you move your coins to a Hardware wallet if you're planning on sticking with them. There isn't an exchange on earth that is immune to being hacked. My Ledger gives me a great sense of security.

 

[RagingBeringola]

[...] I've used Binance primarily with Gate.io for a couple of coins that aren't on Binance. I'd strongly suggest you move your coins to a Hardware wallet if you're planning on sticking with them. There isn't an exchange on earth that is immune to being hacked. My Ledger gives me a great sense of security.

I'll check that Gate.io

I got a software wallet in my laptop. Probably not as good as a harware one, but seems it can keep some coins inside (Exodus wallet) but not all.

I read about Trezor and the Ledger Nano S, seems they support the most common cryptocurrencies, but where/how do you store the others?

 

[Nik123]

My Ether Wallet works well for online storage (MEW). It stores any token based on Ethereum (ie any ERC20 token).

You can make it incrementally safer by sending funds through their 'offline' feature. And you can combine it with Ledger devices for that oh so snug feeling.

 

[benebox]

Lol pretty ballsy. Wish I had the guts to do that but with my luck I’d be stuck at work when the shit hit the fan.

I thought worse comes to worse I'll be stuck with Bitcoin Private which I have high hopes for. Another play I have going on is with Elastos which in the slight lead over WePower to be added next on Binance, I'm split between the 2 but will exchance my WePower into ELA (if it wins) and back into WPR after the hype fades.

https://www.binance.com/vote.html

 

[benebox]

I’d have enough for a 10k node if I sold all of my other holdings. My two blue chips are NEO / ETH and I have ARK / STRAT / QASH as secondary’s. It’s VERY tempting to think about as I think VEN is on another level and I think they will continue to grow. They’re one of, if not the best performing crypto on the market in the last couple of months.

Yeah I am in the same situation and am thinking the exact same thing. I just really find it hard to part ways with cypto, escecially ones that have done me really well.

 

[CerebralKnievel]

Thanks man, I appreciate that. Cyrpto seems like something people can get really passionate about. More than anything, I'm just having a lot of fun with it. Exciting times.

Both Binance and KuCoin are great exchanges. I've used Binance primarily with Gate.io for a couple of coins that aren't on Binance. I'd strongly suggest you move your coins to a Hardware wallet if you're planning on sticking with them. There isn't an exchange on earth that is immune to being hacked. My Ledger gives me a great sense of security.

The only reason I've hesitated on moving to a hardware wallet is that I did a test transfer when I set up a paper wallet (with power ledger) and the cost was insane. I transferred 25 coins and sacrificed something like 10 of those. Does that even make any sense..?

 

[SwamiLeoni]

I'll check that Gate.io

I got a software wallet in my laptop. Probably not as good as a harware one, but seems it can keep some coins inside (Exodus wallet) but not all.

I read about Trezor and the Ledger Nano S, seems they support the most common cryptocurrencies, but where/how do you store the others?

I only went to Gate to pick up my QASH. It’s my heaviest bag, but I don’t have enough in it for me to be upset. I’ll let it ride. I do like Gates interface though. The USD converter is a big plus.

As was mentioned in an above post, Ledger devices work with MEW and have BTC / BCH / LTC compatibility. I think they just came out with a desktop app as well or are in the process. You would be able to store all of your coins on the Ledger using their native app and MEW. If you’re going to use your desktop wallet and they gave you a code to access it, keep that code on a thumb drive and not on your PC. Ledger’s are around $100 give or take. Make sure to buy directly from the retailer. There are some scammers selling Ledgers that they already have the seeds to.

 

[xcvbn]

Again, I am looking at the charts on these coins and all the big ones look exactly the same. It is like they were traced over bitcoin.

That's how it goes until there's a massive run-up or run-down then we see fireworks. Historically, it's been best to stay in BTC or ETH during those times but there's always a few coins that go ballistic and exceed the big 2. The hard part is picking which ones to gamble on otherwise you'll get stuck.

 

[SwamiLeoni]

The only reason I've hesitated on moving to a hardware wallet is that I did a test transfer when I set up a paper wallet (with power ledger) and the cost was insane. I transferred 25 coins and sacrificed something like 10 of those. Does that even make any sense..?

I believe Binance withdrawal fees very by coin, but I’m not 100% sure. I know that several coin communities have rallied together to protest transfer fees and have actually got them reduced (REQ being one of them). You’re kind of in a pickle though. The money you threw in could drop 35% just by moving them off the exchange. 10 seems pretty excessive considering POWR hovers around $.80 cents.

 

[SwamiLeoni]

Yeah I am in the same situation and am thinking the exact same thing. I just really find it hard to part ways with cypto, escecially ones that have done me really well.

I’m finding it hard to part ways with my ARK and STRAT because they were my first alt coins. I even have an ARK T-Shirt haha. Love the project and they remind me to hold.

 

[benebox]

The only reason I've hesitated on moving to a hardware wallet is that I did a test transfer when I set up a paper wallet (with power ledger) and the cost was insane. I transferred 25 coins and sacrificed something like 10 of those. Does that even make any sense..?

It just seems a lot compared to the amount you sent as you transfered so few. I pretty sure its a set fee so had you transfered 5000 tokens it would have cost the same.

I’m finding it hard to part ways with my ARK and STRAT because they were my first alt coins. I even have an ARK T-Shirt haha. Love the project and they remind me to hold.

Thats class, I thought about buying a HODL T-shirt but my girlfriend at the time was having none of it.

 

[CerebralKnievel]

I believe Binance withdrawal fees very by coin, but I’m not 100% sure. I know that several coin communities have rallied together to protest transfer fees and have actually got them reduced (REQ being one of them). You’re kind of in a pickle though. The money you threw in could drop 35% just by moving them off the exchange. 10 seems pretty excessive considering POWR hovers around $.80 cents.

I agree, it was excessive. I double checked - it was about 10 tokens. Is it percentage based or just a flat fee?

In either event, that's why I kept the rest of my currencies on binance.

 

[CerebralKnievel]

It just seems a lot compared to the amount you sent as you transfered so few. I pretty sure its a set fee so had you transfered 5000 tokens it would have cost the same.



Thats class, I thought about buying a HODL T-shirt but my girlfriend at the time was having none of it.

Yeah, I'd hope it's set. Well, for the time being.... It is what it is