ATTENTION newbies and aspiring coiners!

Part 2/6
Then you need a set of rules, e.g.:
- set stop-limits every! fucking! time! you buy into something
- don’t buy at or near a new ATH (rarely goes well)
- always have a valid reason for buying (no, "/biz/ said it’s going to moon" is not valid)
- never rely on single platforms alone - reddit, twitter, bitcoin forums, /biz/, blogs, news-sites etc. are very good if used together (stay away from zerohedge tough – tinfoil alert)
- never focus on a single coin alone; diversify in at least 2 time horizons (1-7 days short (ST); 2-4 weeks mid (MT); 1-12 months long term (LT)) & reevaluate them accordingly
- never!!! daytrade with more than 5% of your funds per week/month, if you are not consistently in the greens with these 5%
- if you are in a ugly situation (like having >50% of your stuff being stuck) and NOT in dire need of money: HOLD THE COIN! The market is exploding and the burst of the bubble is months if not years away, you will at least get your money back, if you did not buy useless coins on small platforms

IMPORTANT!
Stop-limit-orders are not a joke, they can literally save your ass! Set one at e.g. 95% of your entrance point/adjusted to the current price, when you are away from the computer or watching a movie etc. Yes, sometimes it is only a short bounce and you lose some money or profit, while the value goes bonkers afterwards - but most the time, it just prevents you from heavy losses or missing opportunities to sell your stuff at a good price, because you were sleeping/shitting/suffocating on a Cheeto while wanking on your possible profits while selling on a ATH.

Part 3/6
Now you could start to trade with e.g. an excel-sheet, where you insert the buy of a coin and a sale when you sold it. This is called "paper trading" and for just getting a feeling for it. Do this for some days, while you are learning the basics of analysis.

Then start with small amounts - 10 dollar, maybe 50. If you are comfortable with that, pimp it up with stocking it up with the same amount per week or month. If you lose some, it won’t hurt and if you gain some, it is a sense of achievement.
Keep in mind that there are days where you look at the charts and say "Yay, nothing to do here but to adjust my stop limits", as everything is green and fine. And then there are days, where you see all your stop limit orders triggered, because everything is falling into abysmal depths.

Both days are cool, because the first one nets you profit and the second one cuts short your losses or triggered taking profits to enter again. Because remember: "if there is blood in the streets, it is good to buy". This say was true when Baron Rothschild made a fortune in the 18th century (I am not implying something anti-Semitic here, he indeed said and did this).
Start to think this way and you get a boner when thinking about crashes.

Also, remember that the meme "HODL" or "hold your coin" only applies to people that bought at a low price and are in the green even in the middle of a crash and the ones that bought at a high price and did not place a stop limit order. The first ones know that the price will rise further & holding the coin will enlarge their gains later. The second ones know that the high times will come back and then they can keep their losses small by holding the coin until then. There is little to no reason to see a coin crashing and not cutting your losses/grabbing the profit so far and buying back in, when the foothold is confirmed.

Part 4/6
Let’s get to some general security measures:
On every exchange, take your mobile and enable 2FA (two factor authentification). That way, when you want to withdraw cryptos, you need to enter a code from your mobile which changes every minute. So even if your PC somehow gets compromised, an attacker is not able to steal your money, except when he also steals your mobile. 2FA is the easiest and most efficient way to secure your stuff on an exchange. There is absolutely no reason to go without it and it should be the first thing to do after registering at an exchange.

Also, keep your computer safe. Better not watch that pron from the dubious website on the same computer you do cryptos with. Or at least use a virtual machine for this and be much much safer. It is easier than you might think of. I am a finance guy and even I learned it with some tutorials from YouTube.

If you start to store coins on your own wallet for holding them long term, make sure you have offline backups. And a backup from the backup. Store them in at least 3 different SAVE locations (e.g. one at your parents’ house, one in the cellar behind a brick and one at bank in a locker etc.). Be aware of the dangers of doing this with HDDs, as they less resistant to damage than a stick.

Be paranoid. You are handling money and the number of scammers is huge. You can discuss and talk with other people on the internet like you always do, but never give out personal information (except your wallet address - besides someone sending you coins, nothing can happen). The "send me your coins, I double them"-scam is nothing but bullshit, but people still fall for it more often than you might think. Be aware of these things, even with dealing with people you write often with. Social engineering is an art for itself, which is mastered by many scammers and conman, just to trick you out of your stuff without you realizing it being bad.

Part 5/6
Speaking of crazy things – here are the two most important rules of all:

NEVER EVER trade with money which you cannot afford to lose. 100k of a shitcoin won’t make the landlord happy, even if it might spike up again and get you dem delicious gains, which could lead to homelessness faster than you can imagine. This proves even more relevant when it comes to food - a bag full of coins is not eatable.

NEVER EVER lend money from relatives, friends, colleagues, banks, neighbors or the mafia just for trading cryptos. If you lose money, you not only put them in financial danger but also the (hopefully lovely) relationship between you and them can get strained.
No money on the world is it worth to risk or even strain your relationship to a loved one. Especially when we talk about the mob, you are in for a world of hurts, if you want to tell them that "THE COINS WILL BE WORTH MORE NEXT WEEK, I SWEAR!!!" when they come to collect their money. They are pretty old fashioned, I guess.

And finally: don’t be fooled by thinking you can get rich fast and lay off for the rest of your life. "Lamboland" and "moon" are memes to entertain, they are not an accurate description what happens when you only trade for a week or so. You CAN get lucky and get x20 or x100 your investment in a few days. But you also need to consider, that you can very much lose everything, especially when you are new. That’s why "only trade what you can afford to lose" is such a golden rule. Running for fast pump & dumps will make you the bagholder for organized groups and worthless coins sooner or later. This is a gamble you can win or lose in a couple of hours. Researching and investing is more relaxing and also a secure possibility of multiplying your capital over days, weeks or months, depending on the coin. The number of people getting money by researching the coins however is a multitude higher than the number of people getting rich on p&d-actions.

Part 6/6
Finally let’s give you a practical homework, if you are still interested: try applying the stuff you learned with litecoin.
Check how the upcoming fork of bitcoin might affect the price of litecoin.
How did the prices react to past crashes of bitcoin?
What major announcements are made that might affect or affected the price? (Hint: RUMOR and NEWS)
Did it touch an important point recently? (Hint: ALL TIME HIGH)
Check twitter how the general air about litecoin is – calm, heated with discussions or confident?
What do specialized bloggers say about it being under- or overvalued?
Is there something like a trendline?

Draw your own conclusions. Or how it is called: DYOR - do your own research. Now you have the tools to do that. It might be hard, but in the long run it pays out, as there are too many people out there that see cryptos as a slot machine and not as a craftsmanship.

In 2-3 weeks, if you got some gains - maybe drop me a beer in form of Litecoin, if this posts and/or the answers I give you in this thread helped you somehow to get profit out of your investments:
LT6qfsrxPhVxcYPbNgT267W1aVRd6n5AFq

Or even better: treat yourself for a new game on steam.
Or take your dog to a walk in the park and get some icecream.
Or how about going to the cinema for the movie you wanted to see for real, not pirated in bad quality on the internet. Take your friends with your or make some there.
There are many things out there to see and enjoy - dont look at charts all day and dream about "lambos" or "moons". It’s the small cash outs that make it worthwhile to do, if you are not required to life from it.

Disclaimer:
Even if you have read this wall of text carefully and follow the advice of experienced traders, you still can lose money. I am not accountable for any losses you encounter while trading crypto currencies. Trading can lead to addicting gambling behavior, for which you should consult a professional, please – otherwise you might lose everything.

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thanks for the information anon, i can not give you litecoins yet, but i have this rare pepe you can maybe use.

I realy hope you used what I had written and sold LTC, as it will go down from today on, till it packs up pace upwards again in a month or so. Rumors and news, remember? When LTC will be listed on bitstamp, the value will go down most likely.

This was an example on how to make money in this market. Easy 30% if you got in 2 days ago. Still 15-20%, if yesterday.

Also a warning: if you bought your bitcoin at $2.5-3k, I would consider consider pulling out into fiat within the next couple of days for at least 3 to 4 weeks, then buying back into the dip at below ~2k. The signs start to look like another 20-30% decline in value, as the correction from the insane market growth from the last couple of months is quite probable. Nothing we will talk about in 2-3 months, but still something to consider doing.

Other options would be to go into altcoins, which most however are likely to share the sake of BTC.
ETH would be an option.
LTC, if you already invested in it at 0.01-0.012.

>>2494303
Rare pepes will be the cryptos in the 2020ies, so you basically just gifted me a lambo. I appreciate it.

Thanks for the information brother. I don't have any litecoin to tip you but be sure that if I buy LTC someday I won't forget you (made a screen of your address).

You give very valuable advices and I hope anons and newbies will actually read them.

Be blessed!

>>2494190
This is great! Thanks OP. I'm a newbie, that has so far made profits, but I still can learn a lot from this. A quick question about 2FA. If I enable it and then lose my phone,what happens then? My coins are inaccessible forever?

>>2494387
nocoiner here but it seeems like if you want to stay in the "well-known" coin area, shouldn't you just buy in to ETH and then consider BTC after whatever is happening tonight dies down?

and if you want to try gambling it looks like SA and ANT are hot right now.

Anyone have an intro to trading bots?

>>2494402
>Be blessed!
Thank you, may there be many profits and small losses on your side too.

>>2494413
>If I enable it and then lose my phone,what happens then? My coins are inaccessible forever?
On poloniex for example, you need to write down a 16 digit key when you enable 2FA. Store it on paper and then you can get back into the 2FA for your account with another phone.
Otherwise I think the support of the exchange will help you in this case. As long as you use different passwords and protect everything with passwords in the first place, the danger of losing everything is low.

>>2494423
>nocoiner here but it seeems like if you want to stay in the "well-known" coin area, shouldn't you just buy in to ETH and then consider BTC after whatever is happening tonight dies down?
If you strictly want to go a "invest and forget" - approach on dealing cryptos, without dealing with many altcoins, then this would be a wise idea.

>>2494169
>Read it, understand it, try it. This is what will indeed make you money.
You keep posting this thread saying the same thing, but it hasn't helped me at all so far

>>2494469
I dont use them, sorry.

>>2494423
>and if you want to try gambling it looks like SA and ANT are hot right now.
They are hot but like you said: gambling. Unfortunately, I and many other missed the pump from 2 days ago, I would look into it when it dips into the 0.00115 - area.

In one respect it is however very wise to invest in it:
- China

Chinese are crazy...

>>2494484
>You keep posting this thread saying the same thing, but it hasn't helped me at all so far

Oh, thats strange. What did you invest in the past days, maybe I can help?

>>2494169
Noice

>>2494169
I've seen you around doing this a few times, thanks.

I got into ETH a few months back at $35 and just recently took out my initial investment (plus some) and diversified into some alts. I have Forex experience, and have been a bitter nocoiner on /biz/ for years.

Here is my current setup, arranged by value:

Main holdings:
LTC (@ 0.014)
ETH
FCT

Small holdings:
BAY
BAT
BITB
DGB

Anything you recommend I add or drop?

>>2494745
>Anything you recommend I add or drop?
As I see the foot of LTC around this area, I would just cash it out completely for now and get back in at tuesday after the level of the dip is confirmed. As you are already in ETH, I would not recommend to put any more into it.

Otherwise this is okay. Dont know about if I would buy into BAY tough, as I dont speak polish. When did you buy in?

>>2494169
seems like good advice, what about mining? I would like get involved with application of mining to produce some work or service. Specifically in the realm of publishing and hosting content? Would this be possible?

>>2494945
For this I am unfortunately the wrong person to talk with.
I know my way around with using the tech I have, but I never even came close to a mining rig in person so far.

Saw a question from yesterdays thread, which I would like to answer:

>>2485861
>I put about 0.007 BTC on 1Broker and I'm copying a couple of successful traders there. It's up to about 0.010 BTC after 5 days. I doubt that's a typical profit for forex trading and I should probably expect to lose just as much in a bad streak. Will I ever reach the moon like this?

Reaching "the moon" depends on what amount of money you throw in ofc and how high your moon is.
Never needing to work again?
A secure home and pocket money besides a relaxing part time job or volunteer service?
A metaphorical question for an answer, I know. But with only 0.01 BTC I would say "never working again" is still far away and you would need to be very good at this to pull it off. You would be better off setting your goals lower or the amount you put into the whole stuff a bit higher.
Which also puts more risk into it, I know. But the times where you can get filthy rich with a dime are not only over - they probably never existed (except when you did buy BTC around 2008/9).

Which websites/software do I need to use to get into trading? Complete newbie here. I've done a good amount of research, but there's still some things I need to learn.

>>2494169
Thanks for posting this again! I was afraid I lost it!

>>2494169
Thanks Anon.
I have a friend who is interested since he saw me checking my blockfolio, and I sent them this. I think it will really help him out.

Also
>good advice? on /biz/

Bless you

>>2495062
http://www.investopedia.com is a good website to learn the basics
https://www.tradingview.com is an excellent way for analyzing charts live
Other than that and what the exchanges provide for you, you are fine for a starter.

Ofc you could start going fancy with using coiningy right away, but I have the feeling that a new trader would not profit from it. It is only $15 a month tough and they have a free trial month, so feel free to try it, if you are curious.

>>2495113
>I have a friend who is interested since he saw me checking my blockfolio, and I sent them this. I think it will really help him out.

Nice.
But please remind him, that we might(!) face a turbulent time (see the possibility of a correction I mentioned in >>2494387) and the best point in time to join in might not be right away, but in a week or two.
When he uses this time to learn, he will have a great time, I think.

Great post thanks for it.

Any recommendations on technical analysis books that will actually teach me something rather than promote a course or seminar? Or should i just keep sifting through youtube videos and webpages

>>2494169
No coiner here, I have a really basic question.

For example, if I own 10 coins, 2000$ each, all time high, and it's starting to crash, or everyone knows it will crash - which means no one is buying and everyone is trying to sell, right? If I place a sell order, does it get sold immediately or do I need another person to buy it?
So what I am trying to ask is, do i always beed a buyer (person), or is it sold immediately and to who when i decide to sell? Can price drop even more between the time i click sell and when it's actually sold? Thanks.

>>2495435
someone has to place a buy order to meet your sell obviously
the exchanger/trader doesn't buy your shit if that's what you're asking
make sure you never buy during ongoing increasing curves, that's when people are starting to sell (people who don't hold at least)
wait for the curve to completely fall down, and when it stabilizes that's when you buy

>>2495435
There is no market maker in any coin exchange site as far as I'm aware. So yes, somebody would have to actually buy your coins during a sell panic. Good luck on that.

>>2494931
>Dont know about if I would buy into BAY tough, as I dont speak polish. When did you buy in?

Somewhat recently. The project seemed interesting and I didn't put in much.

>As I see the foot of LTC around this area, I would just cash it out completely for now and get back in at tuesday after the level of the dip is confirmed.

Good idea, I see where you're coming from on that. Why Tuesday, though?

Just sent half an LTC your way as thanks for actually contributing quality posts to /biz/

What's the deal with GDAX? Why is nobody trading there, you can change ETH/USD and BTC/USD, isn't this an advantage over the others ?

>>2495393
>Any recommendations on technical analysis books that will actually teach me something rather than promote a course or seminar? Or should i just keep sifting through youtube videos and webpages

Quick answer: the internet is well enough, no need for a book. I have read a couple of them and I can tell you that many things inside is useless (you dont need to know how to calculate the MACD - only what it indicates).
Just be carefull which websites you encounter - e.g. zerohedge is a website for tinfoilers.

>>2495435
>So what I am trying to ask is, do i always beed a buyer (person), or is it sold immediately and to who when i decide to sell? Can price drop even more between the time i click sell and when it's actually sold? Thanks.

Every trade has a buyer and a seller. If there is no buyer, then the good is worthless, no matter if we talk about coins on exchanges, stocks on the stock market or 20 square kilometers of land in the middle of the sahara.

Tfw I never set stop loses. Then again I mostly buy good coins and hold them, I don't give a damn about dips.
Also
>small cash outs
I don't cash out at all yet, takes a few days and I have money in my bank for buying things anyway

>>2494387
>if you bought your bitcoin at $2.5-3k, I would consider consider pulling out into fiat within the next couple of days for at least 3 to 4 weeks, then buying back into the dip at below ~2k.

Why Fiat?

Is ETH going to correct too? Trying to use your tips to judge for myself.

I added a bit more at about 0.145 because I was sick of day-trading and wanted a longer term hold. I don't want to pull out below there.

It's climbed down a bit from there and has pressed back towards 0.145. The Bittrex charts look encouraging. It's been stable for the last week; looks like it's due for another upwards break soon. How likely is that??

>>2495536
>Why Tuesday, though?

I like to have a stabilized "foot" when I put money again in a coin after a rush.
It admit is more of a somewhat conservative strategy, but it prevents one from investing in short termed double dips. It also prevents sometimes from getting the most optimal price, but my credo is more focussed on continuity.
But this depends mostly on your individual risk strategy. I like to avoid risks as much as possible, so I am a bit more cautious and e.g. wait for when a support line is not only tested once, before trusting it.

>>2495536
>Just sent half an LTC your way as thanks for actually contributing quality posts to /biz/

Thank you very much!
I hope I can keep up the desired quality here on /biz/, so more people can trade at least more safely on the market or - even better - profit from it.

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>>2494169
You're doing god's work OP

>>2495578
>Is ETH going to correct too?

The big players who were cutting their risk against the 1st of august already changed into ETH and the price behaved similar to BTC in the small recent correction of the 15th and 16. of june. I agree that ETH is more solid than BTC right now, but due to this fact of a similar reaction, I would rather wait out the storm on land, not on a solid boat at the pier (figuratively spoken). ETH is a solid coin and will get back on track when/if it crashes, but I would not say it is a safe bet in case of a bigger correction.

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>>2495621
3/4

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I'm holding a coin. The news have been solid and positive for a while now. Development is going steady yet I've been told that a market depth like this it's no good sign .
Can somebody explain it? Please. I apologize if it has been explained already.

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>>2495624
5/6

Is there a safe and reliable way to buy BTC with paypal? Also, how do I cash out my coins when I want real money?

>>2495636
I use localbitcoins to cash out because I live in fifth world paradiso Venezuela. We have no alternative

>>2495633
>I'm holding a coin. The news have been solid and positive for a while now. Development is going steady yet I've been told that a market depth like this it's no good sign .

Market depth is one indicator to judge the relation between buyorders (green, meaning people who want to buy) and sellorders (red, meaning people want to sell).

You could say that a "big red wall" is an indicator that the price will not rise or will rise slowly. This however can change every minute, as e.g. bots and whales can set up massive "walls" (meaning large jumps in the market depth, which often represent single big orders) that disappear, as soon as they are touched.

In part it is also a psychological thing, which you can immagine like that: would you buy one single coin, in the expectation to sell it higher later, if there is a single guy who hast hundreds of thousands of coins who he is selling at a price that is lower than you expect to sell it later yourself? Large sellorders scare buyers away and can trigger a decline in the price. Large buyorders however can trigger people to sell their stuff.

It is however not the only indicator you should use. To say "it is a good/bad sign" is quite correct, but it does not mean that the price will not rise or drop just because of that. Not with major coins at least, the smaller ones work a bit different in this respect.

>>2495636
>Is there a safe and reliable way to buy BTC with paypal? Also, how do I cash out my coins when I want real money?

This mainly depends on the country you are living in.

>>2494169
>>2495684
Hey OP, can I publish your stuff somewhere so peeps can share it that way?

I'd like to know 1) how to credit you 2) if you have any referral links that I can include in the text or credit

(you probably can't post your ref link as a reply due to the spam filter, my email is [email protected] )

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>>2494387
>mfw bought litecoin 4 days ago because i thought bitcoin was to unstable to hold over night

>>2495692
I'm an Amerifat, paypal isn't as important, I just need to know a good way to cash out when I need to.

>>2495684
Hey OP, thanks for the newbie help! What do you think about Golem? Is it worth getting in or don't you believe in the project?
The idea is interesting, but many argue that with cloud computing services like AWS offering great support it's unlikely for (especially) businesses to use something like the Golem network just to save a little money.

>>2494387
>Also a warning: if you bought your bitcoin at $2.5-3k, I would consider consider pulling out into fiat within the next couple of days for at least 3 to 4 weeks

Can you go into some detail here? Does this have something to do with the august 1 fork?

>>2495594
>I like to have a stabilized "foot" when I put money again in a coin after a rush.

I've never heard the term "Foot" used. This is a technical? Pardon my tactical autism.

>>2494169

What do you think about http://status.im/ ?

>>2495684
Thanks so much, OP. I work for a news site in Spanish, I'd love to publish your guide with your permission of course. If you don't mind, I would like to credit you. You can e-mail me @ [email protected]
These type of writings are good for everybody and we need to have them everywhere.

>>2495684
FYI my up changes because I'm using my phone to post. But I'm the guy with the market depth screenshot.

>>2495702
>Hey OP, can I publish your stuff somewhere so peeps can share it that way?
Please do so, I appreciate everyone spreading the word.

>I'd like to know 1) how to credit you 2) if you have any referral links that I can include in the text or credit
I dont think I use anything that uses reflinks.

Just let the litecoin-adress stay where it is, if you like. This is more than enough if someone likes to give a tip for my advise, after they made some money - otherwise it would feel like a "up-front" payment, which I personally dont like. It is no secret knowledge what I write, after all.

Pleas point out where the thread is popping up. /biz/ needs more people that are willing to make money in a serious way, not the ones who want to get into stupid pnd-actions, which hurt the tech as well as the companies behind it.
And the quality of /biz/ will hopefully rise this way, too.

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>mfw the very first crypto purchase i made was buying eth at $400 because i thought it was a rocket ship to $500
>even put in $5000 on it since i thought it was a sure thing

will i ever make my money back?

>>2494169
OP CAN YOU PLEASE GO INTO WTF IS GOING TO HAPPEN RE: BIP 148 UASF.

I don't know whether to convert all my BTC and altcoins out to fiat and buy back in after the dust settles, or keep my altcoins and spend all my BTC in ETH/LTC/ETC.

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>>2495839
Yeah, pretty obvious just hold thst shit

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>>2494173
please explain how to use setlimits properly
i just fucked myself in the ass by accidentally selling my litecoin at 90% of what its worth by doing it wrong

>>2495709
>I'm an Amerifat, paypal isn't as important, I just need to know a good way to cash out when I need to.

I would recommend coinbase, but it seems to crash when BTC crashes/moons. Other options would be e.g. amazon coupons via bitpanda, normal cash out via Kraken... there are too many options.

>>2495728
>Hey OP, thanks for the newbie help! What do you think about Golem? Is it worth getting in or don't you believe in the project?
Golem has a good long term goal and is still unique in what it provides (cloud computing & blockchain). A solid choice in every time horizon, as it has shown a steady growth and a good resilence against fluctuations against BTC prices. However I am not a tech guy. The thought of a "super computer" on the blockchain by "rented" hardware is something tempting, the dev team is alive and active. I see not many arguments against the coin.

>>2495927
ID like to know this too. The asking price was high but it looks like some asshole sold some at a really low price for some reason which triggered my conditional sell. Wut do to prevent this?

>>2495801
>Can you go into some detail here? Does this have something to do with the august 1 fork?

In part, yes. But also the recent rise in price for BTC raises concerns about BTC beeing overvalued right now. Also like I said: many big fishes either paid out in fiat or changed to ETH. When the fork goes well, nothing big will happen. But if the fork goes wrong, some people who were already concerned about BTC beeing overvalued could take this as a sign to sell and cause a landslide in value this way.

>>2495807

Nah, this is just me speaking figuratively. More technical terms would be "support line" or "floor". Basically it is when demand and supply form an equilibriium and wont let the price deviate further below a certain price.

I'm making a coinbase account and having trouble registering with paypal. It's telling me to upload my ID, but I don't see anywhere TO upload my ID. The link it gives me when I select the paypal option does nothing.

>>2495975
>The asking price was high but it looks like some asshole sold some at a really low price for some reason which triggered my conditional sell
that was me kek
if i just caused a dip im gonna buy it back for the same price anyway lmao

>>2495814
Wow, this would be cool. I will send you an email in the next couple of days.

>>2495963
>I would recommend coinbase, but it seems to crash when BTC crashes/moons.

I also recommend coinbase but ONLY for cashing in and out. You should do your actual trading on bittrex or a different exchange. Trade for USDT when things get crazy, then move to LTC, transfer to coinbase, and sell.

You'll get used to moving large sums of money pretty quick.

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>>2496006
NIGGER

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>>2496030
please respond
>>2495927

>>2495839
Ouch.
Good news first: I think so, yes.
Bad news: maybe not until next year.
If we indeed face a correction (like I said: everyone is watching the market with quite sweaty palms, after the market grew so fast), you might need to wait a couple of months, even half a year. I dont think that we face a bear market like we did 2013, when it took almost a year to find the floor.

So I would not! sell. Hold it and take it as a lesson to learn that you never buy into an ATH.

What's the difference between restoring ethereum wallet (mist) from seed key vs restoring it from the back up files

>>2495864
>I don't know whether to convert all my BTC and altcoins out to fiat and buy back in after the dust settles, or keep my altcoins and spend all my BTC in ETH/LTC/ETC.

I go the middle way. Pay out half of your stuff (or 2/3rd of it) and leave the rest split in ETH/ETC/LTC (buy LTC after the dip on monday or tuesday).

Never go the "all" - option. If it indeed crashes completely, you are fucked. If it does not crash at all, you are still able to trade some profits.

>>2496044
So, if I were to register my paypal account on coinbase, I would cash in by buying bitcoin with paypal and then move to bittrex to do the actual exchanging of bitcoin to other cryptos, then I would return to coinbase if I wanted to cash out? Or am I missing something?

>>2496121
>Or am I missing something?

You're missing nothing, that's it.

The key here is how to avoid losses during a crash, and that requires exchanging for USDT. This will hedge your losses. Then, when things have stabilized, exchange back to LTC (it's fast and fairly stable) and send that LTC back to Coinbase for cashing out.

>register my PayPal on coinbase successfully
>go to buy/sell
>it still tells me to add a payment method
What do I do here?

>>2495927
>please explain how to use setlimits properly
Lets say that after today your LTC is at 110 dollars, after you bought them for 100. You are tired, you want to go to bed. And you believe it will rise further during the night, but you also want to protect a share of the the profit you gained today. So you set a stop limit which is triggered at 105. You go to sleep.

Now there are 4 options of what might happen:
a) price explodes, stop limit is not touched
Yay, even more gains the next day
b) price goes sideways
It might or might have not triggered your stop limit, but you can buy back in at around the same price like yesterday anyways.
c) price crashes to 80
It touches your stop limit and you gain 5 dollars in profit - the next day it is below your entry point and without the stop limit you either had to take a loss or wait for it to spike. With stop limit however you made small profit, with what you can buy the dip and make even more money.
d) price touches your stop limit and goes bonkers

Only bad situation where you made a small profit and lose the prospect of getting more. Happens rarely, when you do your job with the technical analysis well.

Just to be clear on this side: the stop limit is a tool for precaution. It limits your risk and that is all that is to do when dealing with stocks and cryptos: limiting risks and cutting possible risks short.


If your stop limits / stop losses are triggered often, you need to enlargen the span of the limit. Often you need to analyze how much the price fluctuated in the past, to find a good way for that.

>>2496159
Just kys

>>2496004
>I'm making a coinbase account and having trouble registering with paypal. It's telling me to upload my ID, but I don't see anywhere TO upload my ID. The link it gives me when I select the paypal option does nothing.

Better contact the support on this. My verification on coinbase was ages ago.

>>2496185
sorry for making you write all that out but i meant the practical aspect
e.g. what buttons do i press on this pic >>2495927 so that it starts selling when it gets to 0.002

>>2495823
http://bizbeginner.com/2017/06/18/crypto-trading-advice/

sorry for crappy site, superbusy with work

>>2496195
>kys

What a faggot

>>2496107
>What's the difference between restoring ethereum wallet (mist) from seed key vs restoring it from the back up files

Dont know desu, never needed to use them.

>>2494200
>open thread on biz
>actually contains information rather than just being BUY/SELL X NOW with twelve exclamation marks
>read on see next line
>" also the (hopefully lovely) relationship between you and them can get strained."
What's going on, feels like opposite day.

Well done anon, maybe you prevented a few people from turning themselves into hobos.

>>2496339
I'd like to think OP is Satoshi Nakamoto

>>2496055
heh >>2495884

how do cryptocurrency exchanges work? do i need to create a wallet for every single currency i want to trade or will the broker (e.g. poloniex) do that for me and i only have an account on the brokers website?

Man, coinbase is really getting on my nerves. I was under the impression that I could use paypal to BUY on there. They don't take prepaid visas, either. My mistake, I guess.

Are there any safe ways to buy with paypal? Not going to link my debit card or bank account to any of these sites at the moment.

>>2496241
No problem, had it copy pasted form another post 2 days ago where I explained it this way. I make it a bit more detailed, for the case someone wants to follow it.

First you write in the amount of coins you want to sell in the first one ("Units").
Then you sign in the price you want to sell it for besides "Ask".
Besides "Type" you click on the red "Limit" and chose "Conditional".
Besides "Sell when" is the "Condition" - button. Clicking on this will open the 2 options:
"Greater than or equal to" which is good for buying if the price rises to a certain level and
"Less than or equal to" which is good for selling if the price lowers to a certtain level.

So if you want to set up a stop limit order for litecoin at 0.016 BTC, which is triggered when the price hits 0.0165 BTC per LTC, you set e.g.:
- Units: as much as you like to sell
- Ask: "0.016" <-- this is the price your order will be listed as
- Type: "Less than or equal to" (sign is "<=") and "0.0165"

Then it should work as intended and as soon as the price drops at or below 0.0165, a sellorder at 0.016 is triggered.

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>>2496250

I like your additions. I might revise the original post, as you point out other several important things.

>[note: it’s a good idea to diversify outside of coins as well, e.g. by getting a job, buying bonds or doing some freelance gigs]
My sides.

>>2496364
>I'd like to think OP is Satoshi Nakamoto

Satoshi is a know japano-fetishist and I guess of northern european heritage, no?

I however am more in favor of chinese food and actually german. But I am flattered, anon. Very much flattered.

>>2496477
>how do cryptocurrency exchanges work? do i need to create a wallet for every single currency i want to trade or will the broker (e.g. poloniex) do that for me and i only have an account on the brokers website?

You make an account and the wallets for your account are "already there", so to say. The wallets are in fact one of the exchange, which is why many people dont trust exchanges and keep their own wallets when not trading.

Immagine the exchange as a water park and the wallet you trade on exchanges as a "pool". And you have the licence to use some liters of what is inside of a pool to trade with another pool. You will only have your own pool with your very own water, if you have your own wallet on your own device.

How would you go about finding coins to daytrade? FA+TA without listening to shills?

I have a dumb question!
How do I set stop-limits on Bittrex?

>>2496889
>>The wallets are in fact one of the exchange
This was one of my concerns. Do you have any recommandations of trustworthy exchanges and websites to cash in and out? (preferably EU / Switzerland)

Is it somehow possible to connect your own wallet to the exchange to use their services or is it only possible with my money in their account?

Is there a reliable quality to get bitcoins via pre-paid visa/PayPal?

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I recently found 20K doge that i mined back on 2014. No one seems to talk about it anymore and even the subreddit is kind of dead. Should I sell it for other stuff that I see potential in? My main concern with it is the branding of it as a meme, however it seems to be one of the most usable coins. Should this concern me?

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>>2497094
hold that shit, dogecoin is going to be cash as fuc in the future

Can someone explain what a sat/satoshi is? I see posts that say "I bought in at 5sats" and I have no clue what that is?

>>2497187
Smallest unit of a bitcoin. Like a "penny" being the smallest for a dollar.

You can get satoshi easily through faucets and smartphone mining, but they're near worthless. Worth less than pennies, in fact.

>>2497094
20k is chump change

You can invest in in altcoin trading. All exchanges accept DOGE.

>>2497264
20k DOGE is 0.0234 BTC which is about 60 bucks

A good sum to start trading

>>2495801

Dude, over 6 billion fucking left the market a few days ago.

If that isn't a sign to you, I don't know what is.

>>2496950
>FA+TA without listening to shills?

First: daytrading is dangerous. You have been warned.
But as everyone tries it at some point in time, there is no point to not explain some basics here.

Finding coins for daytrading is easy: just look up the ones that have with large changes in value. You want to work with differences in

After this, you look up the past of the coin. Was it pnd'd? Is there an established floor? Look for patterns which occured at the same time during the past days (e.g. if you want to trade between 10 and 12 AM, look how the price behaved during this time). Then - when you see a pattern - you set an entry point and two exit points, one low, one high. You buy at the entry point and sell at the exit points, no matter what. You try if it works. If yes - then fine. If no - back to analyzing the patterns.


Some Indicators to look at for daytrading:
- MACD
- support lines
- bollinger band

Like I said: this is dangerous. I would advise to stay away from this.

Step up the crypto trading game, add me on Skype: CryptoAnna

>>2497043
>This was one of my concerns. Do you have any recommandations of trustworthy exchanges and websites to cash in and out? (preferably EU / Switzerland)

Coinexchange operates with a bank in Latvia, so you can say it is secure (EU, yay).

Most of the other big exchanges operate in the US (Poloniex and Bittrex are located there) and are FDIC insured, so your funds are also secure there, as this means that it is backed by the government of the US.

But I would be carefull with anything outside of US and EU (e.g. yobit, which is located in russia).

>>2497094
Should be around 100€, no? Nice foundation to start to learn trading cryptos.

Dogecoin however does not serve any use anymore besides collecting money for e.g. getting the jamaican bobsled team to the olympics (yes, they did that).

Besides that, they are a litecoin-clone which is accepted at many exchanges. No other uses or fancy tech behind it.

>>2497187
>>2497217

0.0026 cents to be exact.
$, not € - cents.

>>2497689
what's your take on NXS? does 5x ROI seem realistic in near future?

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>>2494169
are mining calculators legit ? some calculators tell me i can make 1500$ profit just from running one antminer ,is it that simple ?

Stop limits are a meme.

If I made my accounts for everything and started buying BTC/LTC tomorrow, would I be able to purchase ANS by the 22nd?

>>2497722
"Near future" leaves out space for interpretation.

If the market grows as a whole, this is unavoidable that we have a multiplication. So we could even say that you have a x3 - option with bitcoin in the long run.

However I can say that they have a solid team which is known by their faces (devs which show their faces are less likely to drop the project - personal involvement "forces" someone to stick to the project), which is always a good sign. They show dedication and passion, are active on the project... at least there is no reason to doubt it.

The chart reminds me in part on DGB, except with the low floor right now. Looks solid with a sustainable growth, I would join after the next major drop.

>>2497830
I dont know anything about mining, never even came close to a mining rig in person.

>>2498192
Yes. However I would be carefull with ANS and the 22nd.

Remember: buy the rumor, sell the news. Except when the chinese gov is pushin the coin, we could see a similar pattern like we saw in DGB, before they get back on track.

But how I've read today on many occasions: the chinese are crazy. Expect the unexpected, even tough I would play this safe and leave if there occurs a major dip before the 22nd.

>>2498292
Alright, thanks. I've done research, but I still lack experience with actually buying and selling. How fast/easily can I buy and sell using coinbase and bittrex? I'd in on on coinbase today if I could, but I'm having problems with my bank and they don't do weekend work.

I *sort of* understand sats and all that jazz but how much will I need to know to get my feet off the ground?

>>2498365
>I'd in
I'd buy in, my bad.

>>2497722
>does 5x ROI seem realistic in near future?

Forgot to answer:
Big coins are less likely to get these x5, x10 etc. - numbers in a short amount of time. Depending on which amount of money you want to invest, I would rather go with smaller promissing coins to invest in.

is would you say a resistance price for eth is 380?

Can I profit from buying when it goes down to 376 and selling when it goes to 380?

>>2494169
Question from a newfag: Can I send BTC straight from Gemini to Bittrex? I've heard they jack up the fees if you try that but I can't find any info on it.

>>2498365
>How fast/easily can I buy and sell using coinbase and bittrex?

Seconds, if you have BTC on the account.
For transfering BTC between exchanges or your wallet, it might be faster (and cheaper) to use LTC. This might take a fewminutes, but trading within the exchanges is done in seconds.

>>2498365
>I *sort of* understand sats and all that jazz but how much will I need to know to get my feet off the ground?

In theory you can - if you read what I wrote above - start right away. Terminology is irrelevant, as practical learning with your own money is more valueable than knowing that the strings above and below the candle are called "whiskers". Basically you can start if you understood what investopedia is telling you in the links I provided in the first post.
The rest is following the news, spotting trends and staying calm. Other indicators you come by, can be learned on the run.


Newbies commonly experience kind of a rush if they make their first profits. Thats when they start to break their own rules. It begins with ignoring one or two indicators, because "they can break the ATH" or "I am sure that this is the floor". Or they start to put all their capital in one trade, because "this is a big hit and I will profit big from it".

This will be the first major thing to overcome, after you are familiar with the basics of technical analysis and start trading with real money.

>>2498517
>Can I send BTC straight from Gemini to Bittrex?

>>2498461
>Can I profit from buying when it goes down to 376 and selling when it goes to 380?
Yes. However the amount of change is only about 1%, so you wont get rich by doing that.

>>2498623
Do you recommend btc-e or bitrex?

>>2498517
Wops, forgot the answer.

Yes, this is possible. For the amount of fees, you need to consult the platform, I dont have them in my head right now.

However, I would recommend changing into LTC firsz and then transfering it to bittrex, if the prices are close to each other. Otherwise, the fee might be quite a share of your transfered money.
Also it is way faster than BTC.

>>2498632
>Do you recommend btc-e or bitrex?

Why not both?
It does not matter where you trade (except if you trade on yobit, then you should get away from that ASAP) but what you trade.

I am offline for the moment.
Feel free to ask questions tough, I might answer them later.

>>2498646
I'm transferring the BTC to bittrex to buy LTC, Gemini doesn't support it. Hopefully I won't lose too much, I've started a tx.

>>2494169
That's a very nice "be yourself" advice, OP. (Well the syntax and diction could be more eloquent and memorable)

But the bull run is over. We have another November till March market stagnation ahead of us. And this kind of stagnating red doesn't excite the bull.

What do you propose we do that could mimick March-April-May's bull run market with a high fidelity?

Do you dare show us your portofolio?

>>2494169
Technical analysis is for idiots

I might have some dogecoin locked somewhere, except I can't remember what my shit was or where it was stored etc.

Am I fucked?

>>2494169
What do you think of BAT and ARK?

>>2498694
I'd like to ask the same as >>2498835

ARK seems good long term but I'm not sure if the team is up to their ambition, and BAT has good names behind it.

Also thank you.

does /biz/ have a crypto discord and is it any good?

Does it make sense to just buy and hold? I'm pretty poor so I was thinking I'd start with £125 and deposit more when I can.

I've set up an account on Coinbase. Am I a dum-dum for doing so? The fee is 3.99%. Plus it seems pretty glitchy. I am a total noob so feel free to correct me

>>2498811

Same situation with me, only I think I could have a bitcoin wallet as well on an old hdd from 2011. No idea if anything is in either. The blockchain has to fully sync before they would become visible, right?

>>2494169
Only a white person is capable of good posts and good information spread altruistically.

It's our fatal flaw. It will be our undoing.

Also, I don't get my LTC until Wednesday.

very nice thread op been larking in the last couple of them you're doing god's work

>>2498835
You know, at first I didn't like the idea behind BAT, but then I took a look at Swagbucks. Literally millions of people watching hours of ads and filling out surveys every day so they can get pennies that eventually add up to a $5 dollar gift certificate.

If BAT can capture a fraction of that by offering higher payouts to these people by skipping the middleman, I'd say they have a pretty solid platform among kids, seniors, and NEETs.

Just set this up, hope you'll aren't shilling.

18jem5FKsD1ppgXUjtTaCEq44uitGB85xB

Just to make sure, so best way to get cash in and out is coinbase or possibly Kraken(?), but most of the trading should then be done on some other site - bitrex/poloniex/coinexchange?

Which wallet would you recommend?

>>2498738
>What do you propose we do that could mimick March-April-May's bull run market with a high fidelity?

March-may times are over, I agree with that. I warned from the danger of a bigger correction in the next week in some posts above.

After that, it is still possible to make profits by putting trust behind the teams of solid projects, searching for actual news amd ammouncements, using TA etc. It wont be as easy as before, when you could listen to every single twitter account and still could double your investment in a single week. But as the market will grow for the next years, the profits can indeed be decent, if you know what you do.

>>2498738
>Do you dare show us your portofolio?
I can tell you what I did invest in, if you like.

ST:
RADS / DCR / BTS / XVG / LBC
Might look into ANS tomorrow or the day after, after it dipped.

MT:
UFO / ESP / STRAT

LT:
DGB / ECC

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What do you think about status, will it moon?

>>2498862
To evaluate this, I would need to read into ARK and BAT a bit deeper.

>>2498945
>does /biz/ have a crypto discord and is it any good?
Never did join a discord from /biz/.

>>2499002
>Does it make sense to just buy and hold? I'm pretty poor so I was thinking I'd start with £125 and deposit more when I can.
It makes sense, but I would wait at least a week for security reasons to see how stable the market is.
Reasons stated in >>2494387

>>2500004
Yes, that is an option. And yes, trading you usually do at another site.
Regarding the wallet, it is a personal question. Would you like to store it offline? Online? On a SSD? On a stick?

>>2500639

I dont buy into ICOs.
However this should help for your evaluation:
https://crushcrypto.com/analysis-of-status-im-ico/

The conclusion however states the reason why I probably never will:
>Status has a very binary outcome: it will either be a massive homerun or a total failure. If it is successful, the long-term return can be astronomical; if it fails, SNT will likely be worthless

Never flip coins, if it comes to money.

>>2500669
I just bought 2 LTC, 2 XMR and 19 ICN, with the intention to hold and sell in a couple months time. I believe that bitstamp addition will increase LTC, though now I am unsure. The aforementioned were purchased on kraken, where should I move to day trade, and why?
You're doing god's work.

>>2494169
I'm willing to spend 1000$ on some coins as a long investment. My first and probably last purchase since I'm poorfag. So what to buy? Thank you.

Why do they need my passport if this is cryptomoney?

I don't trust these companies.
Any way around them?

>>2494169
> making dumb money smarter
Less money gains why not tough love for /biz/noobs

>>2496030
Hi OP. Just checking to remind you to send me an e-mail so we can agree on the translation for your guide.
I can start right away, just need to know who to credit, a wallet address at the very least.

>>2500794
>where should I move to day trade
Try it first with a small share of your capital, not with a large part. 5-10% at most until you can get profitable.
Otherwise the platform is irrelevant. I like Poloniex the most, but their performance is horrible. I like the charting possibilities on Bittrex, but dislike many other things. Depends on which coins you trade.

>>2500794
>though now I am unsure
Well, cannot do anything about that. My grandma always said: "Two things are secure: dying and taxes. Other than that, you cannot be sure about anything.".

>>2500758
Yeah but isnt that the premise of every single ico or coin? Either theyre a home run or fail horribly, thats pretty much the status of the whole scene

>>2500813
>So what to buy?
Start with $10, not $1000 and learn before losing a huge amount of money.

>>2500822
>I don't trust these companies.
Well, cant help you then. I do.

>>2501063
Just send you an email.

It is a bit late and it was a long day, I will go to bed now.

Please look through the thread if you are looking for an answer to a specific question. Or try asking another one here on /biz/ - it might be rare, but some people here are still realy cool and are willing to help other newbies with questions.


Dont get into pnd-actions, guys.

>>2500669
>Would you like to store it offline? Online? On a SSD? On a stick?
Not sure, probably either online or on a computer or phone for start.

Last question, do you think it's smart to wait for some time (few weeks) before first investment since everyone here is talking about possible value corrections in the coming days/weeks? Or maybe after 1st august because of the bitcoin event?
Thank you.

pump

>>2496693
Seconding this inquiry.