Attention newbies and aspiring coiners

1st: read what BTC is about
Even many experienced traders cannot tell you what the blockchain is. It is a mistake to not research Bitcoin thoroughly when dealing with cryptos, even if you only trade with coins. Bitcoin is the very first crypto currency and still the one with the highest market capitalization. Most things we do is measured in BTC. If you trade with altcoins, you mostly do this with BTC as a foundation. It is of no use if you buy into BTC when it is at $3000, trade in altcoins until you have a 50% profit and cash out when BTC dropped to $2000, because then you made exactly >no< profit. Basic knowledge on what BTC is, in which situation it is now and at which price it is traded is the most basic information for any trader and investor in crypto currencies, because the price of BTC influences altcoins heavily. Only that way you can evaluate e.g. news like the legalization of Bitcoin in India accordingly.

2nd: do the same with the top 10 coins on https://coinmarketcap.com/
You don’t do this because these are promising coins (some of them are, but that is not the point), but because the top 10 coins all amount to roughly 90% of the market capitalization of all coins already. You need at least to know the basics about them. Are they mineable? Do they have a high supply? Are they backed from promising tech? Why are they so popular? How did they behave when BTC dropped in value? How when it rose to a new ATH? Did they go down, up or was there no movement at all?
Don’t worry, you just get to know them a bit more, not actual learning the last digit of their maximum supply.

Now you may ask: “But what about the small ones?” and you would have every right to do so. But like I said: knowing about the biggest coins is essential. Not only do you have now learned the name, the price, the amount of coins but also the foundations of the tech, the general air about a coin on most platforms, the basic terminology etc. Also, you gathered a fundament of sources and maybe collected your own individual portfolio of blogs, wikis, forums, twitter-accounts and maybe some people on a discord server or on telegram to write and talk about cryptos.

I cannot emphasis more on the fact, that chat groups are the best option to get information on good coins fast. 10 people doing research for one hour a day can see way more than a single person can in 20 hours. And if you get into a chatgroup of 100 people, that are not talking all day about “moons”, “lamboland” or pnd-actions but simply about possible coins to invest in and why, you got a jackpot.

Now if you are really interested in new coins, you could register on bitcointalk and read e.g. announcement-posts. Within these posts (signed with an [ANN] at the beginning), the developers (short: “devs”) showcase the coin, the tech, the team and the “whitepaper” with many detailed information to the public. If the announcement is good, you can at least expect that at some point in time the project was active. However, for a newbie this is exhausting, even if you did the research for the top 10 coins before. That’s why for a fast evaluation of coins, I advise a simple and easy to learn method to analyze coins which anybody can adopt and change for themself. Let’s just call it “PHAT” (or “PATH”, if you like).

Publicity
This is the so called “first impression”. Possible questions are:
- Are there full names (no pseudonyms) and faces associated with the project?
- Is there already a partnership with other companies?
- Is the project itself based on a credible company or just a hobby project from the developers?
- Is there a website? Does it look professional?
- Is there a thread on bitcointalk?

History
This is important if the coin is active for a while already or the name behind them is known. Possible questions may be:
- Is there a roadmap?
- Had they reached their milestones in time? If not, why?
- Had they problems with the development?
- Was there a pump and dump – action in the past?
- Did the developer team changed recently? If yes, why?

Activity
More to get a feeling for the “today” of the coin. If the devs are not on the project anymore, the project is dead and there is no need to invest into it further, may it be money or time. Examples:
- How is the general attitude on twitter regarding this coin?
- What do people think about it, when you ask them on reddit/twitter/(4chan)?
- Is the developer active and interacts with the community on problems?

Technology
If you are – like me – not from a tech-background, this is always kind of tricky. Luckily, most devs break down on what their tech is exactly solving for non-tech people like us. It is best to keep the question in accordance with your understanding of the tech, like e.g.:
- Solves the tech behind the coin a certain problem?
- Is there another coin which is also offering a similar problem?
- In which respect is it better than its competitor (if there are some)?

I would recommend to conduct at least this amount of research, if you are interested into early investing in crypto currencies. You can of course deepen it further, take an emphasis on specific issues or add other dimensions to it. Do your own research and share your knowledge with people of other professions, countries and languages. That way, you create a network with which you can discuss and debate. And only through that, you can truly find promising coins which might net you a good profit in the future.
It is more easy than you might think, if you show a bit dedication and passion. Also, don’t be scared: the crypto community is way nicer than the often very stiff and starchy finance industry.


If you like what I do on /biz/, ou can also follow me on twitter, where I announce when I post something new here. I also share some basic analytics on coins I hold myself from time to time.
https://twitter.com/Bizcryptanon
If this posts and/or the answers I gave you in this thread also happen to get you a profit from the market, maybe drop me a beer in form of Litecoin:
LT6qfsrxPhVxcYPbNgT267W1aVRd6n5AFq

I also opened a group on telegram for newbies, other helping hands and people that are interested in cryptos in general.
https://t.me/joinchat/AAAAAA6pTLHQxUy7hk3KJw
Please be aware that anyone who promotes pnd-groups will be kicked. This is for everyone to have a common ground for questions, discussions, research and sharing information.

File: ANS another one.png (109KB, 1003x749px) Image search: [Google]

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ANS might behave like a staircase.
Maybe the ants will repeat to climb them like yesterday?

Supports were only tested once in the bullish tendency, Schaff might repeat the same pattern as yesterday, as do the price itself (sideways - decline - sideways - pump).
Maybe we even end up testing 375k today.

File: SC outbreak..png (90KB, 998x652px) Image search: [Google]

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Siacoin might break below a trend support.

As it already did while I wrote this, prepare to see testing support at 600. See if it holds - if yes, buy in.
Otherwise wait for it to find a good support.

Is it worth using Eth as a base for other coins?

Can you give me a quick rundown on using a hardware wallet for transfers on an exchange like bittrex? Had a look at it for an hour or so but was generally confused on how to kick it off

>>2654433

By that I mean, use and entry point like coinbase to transfer fiat, then send the addresses to your wallet and go from there?

>>2654433
>Is it worth using Eth as a base for other coins?
Basically it is not different from trading with BTC, but I personally value the trust and publicity of the broader public into BTC way higher than ETH. Thats why I use BTC, not ETH.


For the other question I am a bit confused what you mean. Do you want to transfer BTC from an exchange to your hardware wallet or vice versa?

When I set up a stop limit how low should I set the sale price compared to the limit price?

>>2654505

Just how the process works, im going to look at it some more when I get home.

From my brainlet understanding, I say have 1 Eth on coinbase, I get the transfer to my hardware wallet. Then transfer onto an exchange, trade with it then it goes back when I'm done?

Thanks

>>2654087
Sia will never make anyone rich! Almost everyone has 1k+ coins. It will never happen + they are up their asses and think they are top shit which they are not

How can I be sure that the coin will be listed on exchanges (like bittrex or polo)? I don't want to buy just nice pictures.

>>2654524
>When I set up a stop limit how low should I set the sale price compared to the limit price?
This depends on what you want to do with the coin.
If you trust the coin to have a future, I recommend a wider range between trigger and selloder, as you can ride out the volatility a bit more. E.g. when you bought ANS at 100k but think it will rise up to 500k in december, I would set it to 200k as long as you are not at the PC to prevent a loss and secure a profit.
If ANS is in your short term portfolio or you are nervous about it dropping soon and you want to ride the wave, I would set it to 300k to maybe buy back in at a lower price.

>>2654560
So you want to store everything on the hardware wallet when you are not trading?
The process you need to do depends on the hardware wallet you bought, so I dont think I can give you a quicck rundown how to do this.

>>2654624
>How can I be sure that the coin will be listed on exchanges (like bittrex or polo)? I don't want to buy just nice pictures.
Nobody can be sure if or when a coin gets listed on the big exchanges. E.g. ECC applied on Bittrex for listing a couple of weeks ago and they had no response so far (as far as I know).