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#1 Atharron   User is offline

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Help with cryptocurrency

Posted 11 September 2018 - 01:55 PM

Not entirely certain this is the right place for this question, but I didn't think it fit anywhere else.

I've been trying to wrap my head around this for a while now, but every resource I find seems to think the reader is already knowledgeable about the subject, and starts off with 50 buzzwords trying to make them look as intelligent as possible.

I don't even know if this is even for me, whether it's worth getting into, but a lot of new social media sites seem to use it as a form of monetisation, so it may be the future (but that's way beyond my knowledge to predict).

So I was just wondering if anyone knew of any resource that could explain this in a manner a ten year old could understand, what it is, how it can be used, where to get it, how it is secure, how it can be regulated.

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Replies To: Help with cryptocurrency

#2 modi123_1   User is online

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Re: Help with cryptocurrency

Posted 11 September 2018 - 02:09 PM

Up front here's issues.

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Russell rarely played the stock market and had little investing experience when he put around $120,000 into bitcoin in November 2017. He was stunned when that turned into $500,000 in just one month.
[...]
The dream didn't last for Russell, who works as a property developer in the United Kingdom, buying homes and fixing them up. The price of Bitcoin surpassed $20,000 in December before collapsing. It now trades at $6,300.

Russell attempted to mitigate his losses by shifting money from bitcoin (XBT) to an offshoot called Bitcoin Cash and other cryptocurrencies including Ethereum and Ripple. But that didn't work, and Russell says the paper losses on his initial investment have reached 96%.

Russell is not alone.

https://money.cnn.co...ctim/index.html

I see it as a gamble that is only paying off for those up early.. and the late term folk are subsidizing folk who have been in.

I do enjoy this guy's view.

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imagine if keeping your car idling 24/7 produced solved Sudokus you could trade for heroin

https://twitter.com/...225104234373121




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Could you also explain Blockchain? (Please & Thanks)

okay.

i have a pile of Sudokus my car solved, and a secret "signature" Sudoku which identifies me. whenever i want to buy heroin, both my dealer and i sign the one i'm paying with with a combination of our signatures, and then people can validate that it belongs to him now.

https://twitter.com/...499548064571394
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#3 Atharron   User is offline

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Re: Help with cryptocurrency

Posted 11 September 2018 - 03:05 PM

Yeah, I'm not looking to invest. It seems the hype will die down soon. Just looking to see if I could use it for day to day trading. As I said, some social media sites now use it as a form of monetisation.

Regardless, I think I found what I'm looking for: https://www.youtube....O8PUzg/featured
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#4 modi123_1   User is online

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Re: Help with cryptocurrency

Posted 12 September 2018 - 08:06 AM

Snap.. I guess that's what I get for trying to help!

As it is - I doubt, for some time, crypto currency would be worth anything outside of speculative trading. The swing of value needs to stabilize and the million little do-nothing currencies that popped up need to die off. I mean look at Steam and Valve. Try tried to accept bitcoin for games but had issues with the length of validation for a game price (I heard issues where you buy a game for equivalent of $30, but by the time it processes that same amount of bitcoin was worth $200. Then refunds got weird.. refunding X bitcoin could rapidly different values.

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, but a lot of new social media sites seem to use it as a form of monetisation

Which sites?
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#5 calvinthedestroyer   User is offline

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Re: Help with cryptocurrency

Posted 17 December 2018 - 12:12 PM

Here is my playlist of videos:

Bitcoin mining

I go over more of the How To stuff.

It's very exciting to learn about, but Also very depressing when you learn more about the americain dollar...
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#6 endoffice   User is offline

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Re: Help with cryptocurrency

Posted 20 March 2019 - 09:33 AM

A simple explanation of cryptocurrency is that it is defined by the physical aspect of "real" money. BTC was the first solution to the "double spend" problem. You can't give the same dollar to two people. Same thing with BTC. In terms of it's value, it is highly speculated upon but it does have real use and will probably for decades to come. There is a great good by Princeton on it, I think it's Bitcoin and Cryptocurrency Technologies. can get pretty technical but it's a good resource.
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#7 WolfCoder   User is offline

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Re: Help with cryptocurrency

Posted 04 April 2019 - 09:27 AM

The time to have gotten in on the cryptocurrency fad was 7 years ago, these days its become an economics joke. Its got value as a social experiment and not really much else.
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#8 gameroo   User is offline

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Re: Help with cryptocurrency

Posted 05 April 2019 - 08:50 AM

Yeah, I think of cryptocurrencies as a gamble. There are no significant signals that you can use to predict where will the value go, even though you might think there are. Something that can go down 20% one day and up 40% a day later doesn't seem to have any real value behind it apart from speculative
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#9 officialmasker   User is offline

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Re: Help with cryptocurrency

Posted 28 April 2019 - 07:47 AM

I am actually heavily involved in crypto and forex market trading.

I would like to talk about this via PM if possible as there is really to much for me to just post about in a thread.

There ARE some viable crypto tokens out there among the vaporware/scam coins. Many have use cases and many don't.

Anyone with any questions or wanting a detailed input on a certain token can feel free to PM me.
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#10 modi123_1   User is online

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Re: Help with cryptocurrency

Posted 28 April 2019 - 07:51 AM

Please keep conversations on the public threads so everyone now, and later, can benefit! :^:
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#11 officialmasker   User is offline

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Re: Help with cryptocurrency

Posted 28 April 2019 - 07:55 AM

View Postmodi123_1, on 28 April 2019 - 07:51 AM, said:

Please keep conversations on the public threads so everyone now, and later, can benefit! :^:/>

Sorry.

IF you're looking to get into crypto the best advice I will give right now is to go in on a "dex" and see what happens over the next year or so.

IF you're trying to get into bitcoin now really isn't the time with all the uncertainty in the market... Unless of course you're in this for a 5-10 yr haul and are ok with watching your portfolio go down before going up.
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