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  1. #51
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    Click here to enlarge Originally Posted by subaru335i Click here to enlarge
    So what site do you use for your wallet? And what exchange do you use? I still haven't bought any yet but need to just do it.
    https://poloniex.com/ - for most of my trading, they are owned by Coinbase which is an app for your phone and can be used as a wallet. I have most of my Eth in a cold wallet since it's much more secure.

    https://coinmarketcap.com/ - I use this just to track prices and look at prospects.
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  2. #52
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    Click here to enlarge Originally Posted by xShadows Click here to enlarge
    https://poloniex.com/ - for most of my trading, they are owned by Coinbase which is an app for your phone and can be used as a wallet. I have most of my Eth in a cold wallet since it's much more secure.

    https://coinmarketcap.com/ - I use this just to track prices and look at prospects.
    Can you give a really dumbed down set of instructions into how someone buys a particular currency on Poloniex? Like from account setup through an actual trade?

  3. #53
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    Click here to enlarge Originally Posted by xShadows Click here to enlarge
    https://poloniex.com/ - for most of my trading, they are owned by Coinbase which is an app for your phone and can be used as a wallet. I have most of my Eth in a cold wallet since it's much more secure.

    https://coinmarketcap.com/ - I use this just to track prices and look at prospects.
    Last night I made an account at coinbase, Kraken, poloniex, and a paper wallet on myetherwallet.
    From what I read I don't really trust any of the online wallets that hold the private key for me. I want a hardware wallet like the ledger nano s or a paper wallet like I did.
    Coinbase seems easiest to use but has kinda high fees.

    Im still getting all the ID proof verified so I haven't funded any accounts. Probably will just buy a couple hundred $ at a time some Eth and some litecoin and maybe some bytecoin.
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  4. #54
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    Click here to enlarge Originally Posted by ATP Click here to enlarge
    Can you give a really dumbed down set of instructions into how someone buys a particular currency on Poloniex? Like from account setup through an actual trade?
    Im new to this but my understanding is:
    You have to make an account and get verified by uploading a bunch of Id/proof $#@! to one of these places that let you wire transfer/CC transfer money into your account (coinbase, gemini, kraken, etc).
    They don't all let you buy all kinds of crypto, coinbase only lets you buy Litecoin, bitcoin, and Eth. Kraken you can buy a whole ton of differnet ones and has much lower fees.

    Then fund your account with bank transfer or CC. The service will take some type of fee to do this. Then buy your chosen crypto currency.
    You can either 1) use that service's built in web wallet (not secure because they hold your private key and can get hacked) 2) you can run some software on your laptop that will be your wallet and connect to the blockchain 3)use a "paper wallet" and/or store the encrypted key on a USB drive using something like myetherwallet.com 4) buy a little hardware dongle that will be your wallet which is probably the easiest and most secure but takes a while to ship and costs like $60-$100.

    Then once you have your coins in a wallet you can watch the prices and if you want to trade you can use one of the exchanges like poloniex or gdax etc etc to trade between currencies or you can just hold it and hope they go up long term.
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  5. #55
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    Click here to enlarge Originally Posted by subaru335i Click here to enlarge
    Im new to this but my understanding is:
    You have to make an account and get verified by uploading a bunch of Id/proof $#@! to one of these places that let you wire transfer/CC transfer money into your account (coinbase, gemini, kraken, etc).
    They don't all let you buy all kinds of crypto, coinbase only lets you buy Litecoin, bitcoin, and Eth. Kraken you can buy a whole ton of differnet ones and has much lower fees.

    Then fund your account with bank transfer or CC. The service will take some type of fee to do this. Then buy your chosen crypto currency.
    You can either 1) use that service's built in web wallet (not secure because they hold your private key and can get hacked) 2) you can run some software on your laptop that will be your wallet and connect to the blockchain 3)use a "paper wallet" and/or store the encrypted key on a USB drive using something like myetherwallet.com 4) buy a little hardware dongle that will be your wallet which is probably the easiest and most secure but takes a while to ship and costs like $60-$100.

    Then once you have your coins in a wallet you can watch the prices and if you want to trade you can use one of the exchanges like poloniex or gdax etc etc to trade between currencies or you can just hold it and hope they go up long term.
    Ah, so Poloniex is just an exchange, no different then the regular stock markets? And you need a wallet, analogous to most of the investment brokers, to store your funds?

    Seems like something like Ledger is the way to go for a wallet?

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    Click here to enlarge Originally Posted by ATP Click here to enlarge
    Ah, so Poloniex is just an exchange, no different then the regular stock markets? And you need a wallet, analogous to most of the investment brokers, to store your funds?

    Seems like something like Ledger is the way to go for a wallet?
    Yeah. And yes the Ledger Nano S seems to be the goto for hardware wallets to be "most secure" but I feel it might be overkill until you get some real money into it.
    A paper wallet can be just as secure as long as you have multiple backups of the private key on different storage mediums in different locations. The benefit of the hardware wallet is if the dongle is destroyed you can still get access back to your wallet with a 20 word pass code thing. If you lose your private key to your paper wallet you are boned.
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    Click here to enlarge Originally Posted by subaru335i Click here to enlarge
    Yeah. And yes the Ledger Nano S seems to be the goto for hardware wallets to be "most secure" but I feel it might be overkill until you get some real money into it.
    A paper wallet can be just as secure as long as you have multiple backups of the private key on different storage mediums in different locations. The benefit of the hardware wallet is if the dongle is destroyed you can still get access back to your wallet with a 20 word pass code thing. If you lose your private key to your paper wallet you are boned.
    For the paper wallet, seems like you need to store some data on a USB (or several) and also have a written down code as well?

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    Click here to enlarge Originally Posted by ATP Click here to enlarge
    For the paper wallet, seems like you need to store some data on a USB (or several) and also have a written down code as well?
    yep
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    Click here to enlarge Originally Posted by ATP Click here to enlarge
    For the paper wallet, seems like you need to store some data on a USB (or several) and also have a written down code as well?
    Paper wallet is just the code on paper I thought?

  10. #60
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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    Paper wallet is just the code on paper I thought?
    Yeah but it is smart to store the keystore/utc file on one or more usb's as well so you don't lose it.
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    anyone speculating on litecoin?

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    Ill buy litecoin eventually.

    I just bought my first 2 Eth coins. It was down to 289 which is down a bit from yesterday. Figured I should hop on this train sooner or later so now is as good a time as ever.

    If I was xshadows I would honestly liquidate 1/4 of my Eth just in case something crazy happens. Then wait on the rest to hit $1000
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    If some person on my forum makes more money than me just by selling a virtual currency I'm going to reevaluate my life.

  14. #64
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    Click here to enlarge Originally Posted by Sticky2 Click here to enlarge
    If some person on my forum makes more money than me just by selling a virtual currency I'm going to reevaluate my life.
    I mean its just an investment like any other. The stock market is just as "fake" as virtual currency. There is underlying technology/application for each of these crypto currencies and the price of the coins reflects that.

    I am sure there are some members on this forum that have made a lot more on the regular stock market than xShadows stands to make with eth.
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    I am also invested in ETH, ANS, DGB, SIA, AMP (only Short Term) and IOTA.
    I think ANS and IOTA will have great potential.
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  16. #66
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    Click here to enlarge Originally Posted by subaru335i Click here to enlarge
    I mean its just an investment like any other. The stock market is just as "fake" as virtual currency. There is underlying technology/application for each of these crypto currencies and the price of the coins reflects that.

    I am sure there are some members on this forum that have made a lot more on the regular stock market than xShadows stands to make with eth.
    Any chance there is a place to read about the bolded section? I would imagine that is what will set the winners off from the losers.

  17. #67
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    Click here to enlarge Originally Posted by ATP Click here to enlarge
    Any chance there is a place to read about the bolded section? I would imagine that is what will set the winners off from the losers.
    Yeah there are lots of alt coin specific forums and subreddits. There is a whole ton of reading to do I don't know what the best place to start is. I just started watching videos like Bitcoin Uncensored interviews and then googled any terms I didn't know and then kept going from there lol.

    It is my understanding that the breakthrough with Ethereum (vs Bitcoin) was the introduction of Smart Contracts in the blockchain so there is application in banking, online purchasing, money transfer, or any operation with a transaction cost.
    Some issues or differences between crypto currencies at the moment is smart contracts, privacy of the transactions, scalability of transactions, choice of consensus algorithm (proof of work vs proof of stake etc), amount of decentralization (resistance to centralization), security against hacking, etc.

    There are tons of different coins and new ones coming out all the time that are trying out new things to get around current issues but older blockchains can always be upgraded as well to implement new features. A lot of new coins are complete scams and the founders are just trying to get rich (Tezos).
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    It is all about the blockchain tech that basically copied from bitcoin and expanded on...honestly it is the future. Kinda like how the internet was 20 years ago. Ethereum is speculated to grow more than Bitcoin because it is so much more than a simple cryptocurrency. Ethereum is a blockchain that when it goes proof of stake will allow companies to build decentralized applications that will run on the blockchain for a fraction of what it would cost traditionally. Ethereum tokens/coins will then be the fuel on which everything is run. The transition over to proof of stake for Ethereum is going to a huge step.
    Last edited by BlackJetE90OC; 07-01-2017 at 12:06 AM.

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    Click here to enlarge Originally Posted by frontside0815 Click here to enlarge
    I am also invested in ETH, ANS, DGB, SIA, AMP (only Short Term) and IOTA.
    I think ANS and IOTA will have great potential.
    SIA is a cool concept, decentralized cloud storage for 10x less than of the cost of something like Google Cloud.

    SIA technology should transform data storage in the future.

  20. #70
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    I don't understand any of this $#@! but I guess it's time to start buying some cryptocurrency just to have it.

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  22. #72
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    Yeah there have been some dips recently but I think that just means its a good time to buy.
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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    It boils down to they are working on PROOF OF STAKE right now. They said they think it's going to take a little longer than they hoped so people panic sold. That and the GDAX bug scared a lot of people too. I still say buy in the dips and hold.
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  24. #74
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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    I don't understand any of this $#@! but I guess it's time to start buying some cryptocurrency just to have it.
    I need to look into this $#@! more closely. But for now Eth is the $#@! and i need to get some asap?

    and but some lytecoins and keep them a couple of years?

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    Click here to enlarge Originally Posted by 93siro Click here to enlarge
    I need to look into this $#@! more closely. But for now Eth is the $#@! and i need to get some asap?

    and but some lytecoins and keep them a couple of years?
    You're asking me?

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