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A thread request for Crypto buying information

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posted on Mar, 19 2021 @ 02:30 PM
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removed for safety... binance has a great api, let's keep it simple

edit on 19.3.2021 by ThatDamnDuckAgain because: (no reason given)



posted on Mar, 19 2021 @ 03:14 PM
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Tbf I did start a thread looking for the next GameStop/crypto money maker, which was deleted so dunno how this is still running, but Gudluk to all!!!

a reply to: DeadSnow



posted on Mar, 19 2021 @ 04:00 PM
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a reply to: network dude

I'll drop you a PM and you can decide if you're really serious.

If you're interested in learning more it's much easier to facilitate via live chat or voice call.



posted on Mar, 19 2021 @ 08:58 PM
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a reply to: network dude

It all depends on your trading strategy, if you intend to day trade or just hold for long term gains. The crypto market is still in its infancy however there are some promising enterprises hidden amongst all the scams.

First of all create a private wallet for which only you hold the keys. Personally i do this with a BIP39 wallet which is 24 mnemonic string, most hardware wallets will generate these seeds for you, personally i keep backup of the mnemonic key on a piece of paper jumbled using a cypher and store those two in different locations should there be any issues with my hardware.

Use reliable exchanges such as coinbase and binance.

Research, research and research each investment then research some more before investing.

IMHO the projects with the best chance of future success and growth are:

Bitcoin
Ethereum
Cardano
Chainlink

Some promising outsiders:

Theta
BAT

Gamble with lots of room for growth:

Electroneum (not available on my listed exchanges).

Good luck.



posted on Mar, 19 2021 @ 09:12 PM
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a reply to: Ksihkehe

I'd be willing to bash heads sometime. I've been investing in the crypto markets for several years. Drop me a PM with contact details.



posted on Mar, 20 2021 @ 12:04 AM
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a reply to: Grenade

Done.




posted on Mar, 20 2021 @ 02:42 AM
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Eh.... I had 1000 bitcoins once and sold them at 7 cause those things couldn't hold value...


Don't ask me I'm an idiot.



posted on Mar, 20 2021 @ 07:42 AM
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a reply to: Ksihkehe

Sent you a reply. Thanks for your time and knowledge.



posted on Mar, 20 2021 @ 03:02 PM
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a reply to: network dude

Nothing showed up. I've had issues with PMs lately.




posted on Mar, 20 2021 @ 07:50 PM
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a reply to: Ksihkehe

it shows unread in my outbox. I copied it and sent it again. Please let me know if you got it.



posted on Mar, 21 2021 @ 03:44 AM
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first of all Doge coin was created as a joke. It's not a real crypto currency. There are 184 billion doge coins and they can "print" as much of them as they want. And they plan on it. It is more of a meme than something to hold value with. It is a pump and dump coin so if it goes up again make sure you trade it for bitcoin, litecoin, or ether. It's like the US dollar. They are using it to steal your money and buy more bitcoin. US dollar is used to steal your wealth and buy gold and land.

Second. The whole point of cryptocurrency is to be your own bank. If you bought it on Robbinhood they own your coins. You don't actually have possession of them, if Robbinhood tanks you lose everything.

The reason bitcoin, litcoin, and etherium have value is because there is a limited supply. You can not forge it like Doge or fiat currency which is printing there money into oblivion like Venezuela, Nigeria, US, etc...

The other reason bitcoin has value is because there is a HUGE community of people who trust it (now including billionaires). There is no trust in Doge or Fiat currency because the owners can print as much as they want and put it straight into their pockets.

If you want to do it the right way, use coinbase, kraken, or gemini to buy your crypto. Download "Exodus" wallet www.exodus.com... and send your coins from the exchange into exodus wallet using your wallets address. You can figure this out really easy on youtube. Plenty of tutorials. The reason is the same as why you don't use Robbinhood. If the exchange gets hacked or an owner just takes off with your crypto, you lose EVERYTHING. Which has happened many many times and will continue to happen.

Cryptocurrency was started as a way to hedge against the US dollar and other fiat currencies, all owned by the Federal Reserve banking cartel, as they print their monopoly money into oblivion and use it to buy land, gold, and silver, and send people to war to create the NWO or "Globalism."

This is about growing up as the human race and becoming responsible for your own wealth so you don't lose everything like Venezuelans, Nigerians,Zimbabwe, Greece (even the US has gone through periods of insane hyperinflation) and you don't allow the Banking Cartel to use your wealth for their power and domination of the world.

If a coin has an unlimited amount of coins it means you want to stay away from it. There are a lot of scams out there in the crypto space, but if you look into which ones have been around the longest and are the most trusted and hardest to hack, like bitcoin, litecoin, and etherium, you will not be disappointed.



posted on Mar, 21 2021 @ 04:41 AM
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a reply to: booyakasha

Good points, I agree a lot.

Take out the assets from the exchange when HODL without active sell orders or take long brakes. It will cost network transfer fee but it's safer in an unrelated wallet.

I wouldn't put trust in DOGE at all.



posted on Mar, 22 2021 @ 11:01 AM
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OK, since I started this thread, I have been pointed in a few directions and learned a lot in a short period of time. So far, I learned basically what blockchain is, and understand a little about how coins are more than just coins, but also ways of transferring assets.

I don't understand how a coin is started, or how it gains value. I also don't understand how a coin would be used by a banking system, other than a member requesting that particular coin be used (or if that's even how this is supposed to opperate).

I have a lot more questions, but at this point, I don't have enough knowledge to articulate what I don't know. I look forward to learning more and have set up an account at coin base and bought a tiny bit of lite coin. I took the classes offered and earned some other coins, but don't really know much about them, other than what I learned about how the intend to operate.

Thanks to all who have offered advice and knowledge thus far. I hope to learn more and understand enough to convey what I've learned to others.



posted on Mar, 22 2021 @ 02:49 PM
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a reply to: network dude

A coin can be started in a few ways. Commonly a fork, which is a copy of another blockchain up to an iteration. Another is through ERC, a token rolled out on the Ethereum blockchain, this may be more common.

"Used" by a banking system is kind of a misnomer in my opinion. Operating without a bank as in almost instant settlement as opposed to ACH is part of the original BTC vision but there are banks operating with projects for the same ends, faster settlement and no ACH

On value, mostly speculation but there are very good products and projects that have legitimate value.



posted on Mar, 22 2021 @ 02:59 PM
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Some more thoughts from me in the light of a complete new, system. Like a credit system...

All the digital currencies, crypto too, are on stake then. It can go both ways. In the next one to five years a global or partly global credit system will be eased in slowly to replace the FIAT system, in my opinion.

If that happens, more restrictions will come and that will be the end of crypto. They will attack it from all angles and use the usual false claims. Like every coin or token needs to be mined expensive. If that happens, the market will plunge on all coins and then it's game over.

This is not a financial advice.



posted on Mar, 22 2021 @ 09:56 PM
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a reply to: booyakasha

Good post however I wouldn't recommend software wallets.

If you're serious about crypto a hardware wallet is a must.



posted on Mar, 23 2021 @ 10:10 AM
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originally posted by: Grenade
a reply to: booyakasha

Good post however I wouldn't recommend software wallets.

If you're serious about crypto a hardware wallet is a must.


OK, now we are getting into where I know enough to ask. Can you describe the difference please? As I understand this, a software wallet is having an account somewhere, and you store your crypto coins there. And there are also Vaults, which are long term storage, and more secure. I don't know what a "hardware wallet" consists of, a memory stick perhaps?

And what would make a software wallet vulnerable? (I get hacking, but blockchain is supposed to be secure for that purpose)

Thanks again for sharing the knowledge.



posted on Mar, 23 2021 @ 12:33 PM
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A hardware wallet is a small device where the private key (PIN/TAN for banking systems) is stored. With that key, you can access your coins and do transactions. But to secure it, you store it on a special device called hardware wallet.

What it does is this: You plug it into your computer when you want to access your coins. It has different functions but for example if you want to create a transaction, you send all info into the hardware wallet, it signs it and returns the transaction that can be fed into the blockchain for execution.

The key can not be read out as far as I know. You send in transactions and get a ready to go, signed transaction back that you can send into your blockchain network.

You carry the bank clerk in your hardware wallet. You can think of it like this:

Every transaction coming out is in the stage between where in the old banking system, the bank clerk has already stamped (looked at your signature and signed it himself, too) it, accepted it and all that needs to be done is give it to the one that will execute the transaction.



Then you have the exchange. You transact coins from your hardware wallet into your exchange-wallet and then you could trade them for other coins, stake them for new coins and so on. If the exchange is hacked, it's like your bank server would have been hacked. Could be all your asset are gone because they are just backed by the exchange itself, not the blockchain. There will be a record to their pool wallet but you basically give them your coins until you retrieve them

Otherwhise, the exchange fees on the real blockchain, not the simulated one you trade on, would be too high. Like you do not trade over the banking system but pay into an account.
edit on 23.3.2021 by ThatDamnDuckAgain because: (no reason given)



posted on Mar, 23 2021 @ 01:24 PM
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a reply to: ThatDamnDuckAgain

so like a USB memory stick with encryption.
What does it mean to stake a coin?



posted on Mar, 23 2021 @ 03:25 PM
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originally posted by: network dude
a reply to: ThatDamnDuckAgain

so like a USB memory stick with encryption.
What does it mean to stake a coin?

And what happens when you wallet (USB drive) dies?







 
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