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NEW TO CRYPTO? Poor as fuck? Lessons gleaned from my first week
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Date: December 30th, 2017 3:20 PM Author: cerise mind-boggling legal warrant kitchen There isn't too much advice on here for those of us who are completely broke and starting close to zero. I have about $2500 in crypto right now. Most pulled off my credit cards.
Here are some painful lessons I've learned...
First, watch some videos about wallets and transferring money. THEN:
Use your bank account and or credit cards at Coinbase.com to buy major currencies (here's a referral link that'll give me $10 https://www.coinbase.com/join/5a35c4a3686dee012464f8ac if you sign up with it). You're capped at $750 a week unless you use transfer funds. The cap is a good thing. Go slowly at first. Don't buy BITCOIN because it costs a ton to send. Buy Ethereum or Litecoin instead. Dunno what BCC is and I don't like it.
Then register, and send the money over to Binance.com (again, here's a referral link: https://www.binance.com/?ref=15783565 ).
Binance has fairly established coins. You don't want to buy the really freaky ones yet. Stick to the reasonable ones: these ones have grown a little and are in the $1-$5 range. Prices fluctuate a lot but buy with the intention of holding for at least a week or two. At times this will be very very painful. You will feel like you're missing out. Be patient.
If Gatormo starts giving away cash post your wallet even if you look like a weasel.
The crypto board is mostly trustworthy but look for consensus rather than the advice of individuals. If a few people like something then it's probably safe.
I'll update periodically.
After sinking about 1750 of my own money in and getting about $250 worth from very generous posters... my portfolio is up to about 0.16BTC and I'm up about 200 dollars or so and expect to be up far more than that at the end of Jan. |
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Date: December 30th, 2017 3:25 PM Author: jade dingle berry hell What’s your eth address (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043722) |
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Date: December 30th, 2017 3:27 PM Author: cerise mind-boggling legal warrant kitchen 0xb5a13d3a6379381e41f659b58ee568f64bd8e790
NB I think you gave me some the other day! |
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Date: December 30th, 2017 3:31 PM Author: jade dingle berry hell Is this bird stomper? (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043774) |
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Date: December 30th, 2017 3:33 PM Author: cerise mind-boggling legal warrant kitchen Yep! I like to shuffle my name around every now and then...
Thank you so much for giving me some the other day, that was really nice.
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Date: December 30th, 2017 3:34 PM Author: jade dingle berry hell Ofs.
Have you traded stocks before? If you have you can adapt a lot of those ideas to crypto. If not crypto will be challenging |
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Date: December 30th, 2017 3:37 PM Author: cerise mind-boggling legal warrant kitchen Yeah I'm super new... I've owned mutual funds within an 401K a few times but have always had to sell it (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043845) |
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Date: December 30th, 2017 3:55 PM Author: cerise mind-boggling legal warrant kitchen Subject: FEEL FREE TO ADD TO THIS (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043978) |
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Date: December 30th, 2017 11:25 PM Author: jade dingle berry hell buy whatever blp says to buy. he has a twitter acct. (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35047063) |
Date: December 30th, 2017 3:22 PM Author: cerise mind-boggling legal warrant kitchen Think of prices in Bitcoins rather than ETH. Even though you should transfer in ETH. It's the common currency and probably will always be. (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043691) |
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Date: December 30th, 2017 3:26 PM Author: jade dingle berry hell Cr. Do you know what a satoshi is yet? (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043724) |
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Date: December 30th, 2017 3:27 PM Author: cerise mind-boggling legal warrant kitchen Is it 1/1000th or 1/10000th of a BTC? I keep meaning to look it up (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043731) |
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Date: December 30th, 2017 3:36 PM Author: jade dingle berry hell Bro don’t start giving advice on crypto if you don’t even know what a sat is yet (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043842) |
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Date: December 30th, 2017 3:38 PM Author: cerise mind-boggling legal warrant kitchen Point taken... this is definitely more of 'lessons learned' kind of post than an actual primer (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043866) |
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Date: December 30th, 2017 3:39 PM Author: cerise mind-boggling legal warrant kitchen The answer to this question (for future readers) is (see below) (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043876) |
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Date: December 30th, 2017 3:57 PM Author: jade dingle berry hell bitcoins go out to 8 decimal places.
i.e .00003434
the above is 3,434 satoshis or sats.
if you pay a .0000007 fee to send a transaction you paid a 7 sat fee. |
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Date: December 30th, 2017 4:03 PM Author: cerise mind-boggling legal warrant kitchen (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35044040) |
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Date: December 30th, 2017 6:06 PM Author: garnet dragon 1e-8 brother (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35044984) |
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Date: December 30th, 2017 3:26 PM Author: cerise mind-boggling legal warrant kitchen The fastest way to LOSE money is to change your mind about coins and try to cut your losses when things start turning red and throw your money into something that seems to be streaking up.
If something has had a double-digit growth over the past 24 hours, you're too late.
BUY LOW, SELL HIGH!!!!
MAKE MONEY ON EVERY TRADE
Oh, actually the fastest way to lose money is to buy BitCoin from Coinbase and move it to another exchange. I've been stung for $40 on a $50 trade! |
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Date: December 30th, 2017 3:27 PM Author: jade dingle berry hell Ouch! (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043733) |
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Date: December 30th, 2017 3:28 PM Author: cerise mind-boggling legal warrant kitchen I had a 'chat' with the Coinbase bot after that one, I'll tell you what (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043747) |
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Date: December 30th, 2017 3:31 PM Author: jade dingle berry hell Lmfao
I bet you told that bot what’s what |
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Date: December 30th, 2017 3:33 PM Author: cerise mind-boggling legal warrant kitchen I looked up mining fee and seethed (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043803) |
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Date: December 30th, 2017 3:56 PM Author: overrated idea he suggested brunch would that fee have been the same had you transferred from gdax instead? (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043984) |
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Date: December 30th, 2017 4:00 PM Author: cerise mind-boggling legal warrant kitchen Dunno. Probably not bc GDax is owned by Coinbase (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35044016) |
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Date: January 3rd, 2018 4:59 AM Author: Splenetic adventurous resort trust fund Last I checked, moving BTC out of GDAX incurs no transaction fee (Coinbase pays it for you), but moving BTC out of Coinbase does. (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35069176) |
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Date: December 30th, 2017 3:31 PM Author: cerise mind-boggling legal warrant kitchen Xoxohth has been the most accurate source of information.
4chan.com/biz will give you ideas but keep in mind you're late to the party...
Twitter is the wild west |
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Date: December 30th, 2017 3:33 PM Author: jade dingle berry hell Go do lots of snooping around on telegram, reddit, discord’s till you find ppl who are obviously very smart. Then invite them to a new slack you create. Then you guys can bounce ideas off each other and use your connects to maek it
Just one pumos thoughts |
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Date: December 30th, 2017 3:37 PM Author: cerise mind-boggling legal warrant kitchen That's an excellent idea, thank you! (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043852) |
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Date: December 30th, 2017 3:50 PM Author: Talented pozpig CR on not sell-cucking at the first sign of trouble. As an example, about 6 months ago, I bought SONM and MYST. Missed the first moon on Myst, and made threads for 8 weeks about getting gaped. Never sold either, largely forgot about crypto, aside from checking out my ETH every week or so. This week I checked on shit, and both have pumped up 200-300% from where I originally bought. (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043956) |
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Date: December 30th, 2017 3:54 PM Author: cerise mind-boggling legal warrant kitchen (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35043974) |
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Date: December 30th, 2017 4:04 PM Author: motley glassy institution rigor https://imgur.com/SF8MzIP (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35044046) |
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Date: December 30th, 2017 4:41 PM Author: jade dingle berry hell 180 (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35044369) |
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Date: December 30th, 2017 6:04 PM Author: cerise mind-boggling legal warrant kitchen Take notes and reflect on your trades after each day of trading.
Track what you've done and how much you've spent and how much you've earned. Do it in a consistent format. BTC for example. |
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Date: December 30th, 2017 6:15 PM Author: Cracking national sandwich doesnt make sense to do after each day. this stuff is so volatile you can be up or down 300% after a day. check it after a month. (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35045037) |
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Date: December 30th, 2017 6:19 PM Author: cerise mind-boggling legal warrant kitchen (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35045065) |
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Date: December 30th, 2017 6:30 PM Author: jade dingle berry hell lol at that take notes fraudlies. (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35045100) |
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Date: December 30th, 2017 6:53 PM Author: cerise mind-boggling legal warrant kitchen I take notes on each trade describing my rationale for doing so! (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35045219) |
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Date: December 30th, 2017 7:32 PM Author: Talented pozpig At any given time I really have no idea how much my crypto is worth. Its all spread across random wallets and exchanges. I figured out my cost basis yesterday and it took me like 2 fucking hours lol. (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35045466) |
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Date: December 30th, 2017 10:38 PM Author: jade dingle berry hell soooooooooo cr the only way to live imo (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35046718) |
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Date: January 3rd, 2018 7:00 AM Author: Light Fanboi (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35069276) |
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Date: December 30th, 2017 11:04 PM Author: Contagious rehab filthpig Try the Cryptonomy app for keeping track of your portfolio (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35046946) |
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Date: December 30th, 2017 6:17 PM Author: overrated idea he suggested brunch im new too and the most stinging lesson I've gleaned so far is dont fucking sellcuck when you fall below your target or worse your basis out of fear of being illiquid for the next big thing people are hyping. everything worth gambling on seems to rebound eventually and usually within a couple days
the second most stinging lesson is when you do hit your target and it's not intended to be a longterm hold, have the discipline to sell. |
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Date: December 30th, 2017 6:18 PM Author: Cracking national sandwich (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35045054) |
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Date: December 30th, 2017 6:19 PM Author: cerise mind-boggling legal warrant kitchen (http://www.autoadmit.com/thread.php?thread_id=3844444&forum_id=7#35045063) |