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Messages - Babyfacemagee
« on: January 24, 2018, 07:00:59 AM »
Why would you use a broker to trade crypto? Just use an exchange like Binance or Bittrex and trade them yourself. Not sure I understand the advantage of using a broker. just gonna charge you fees unnecessarily.
Cryptocurrency News - Front Page Comments and Discussion / Here's Why You Have To Open A Binance Account Today« on: January 15, 2018, 10:46:03 PM »
So you took the plunge and bought some Bitcoin through Coinbase. Maybe you've even picked up some Ethereum or Litecoin as well. But all over the web and amongst your friends you hear talk of thousands of different cryptocurrencies and coins. Tenacious investors speak of their favorite crypto going 'to the moon'(short for the crypto hundreds or thousands of percent higher) when they'll buy a 'lambo' (lamborghini) or their dream home or yacht. These 'altcoins', short for just about any coin that isn't Bitcoin or perhaps one of the big three or four cryptos such as Ethereum, Litecoin and Bitcoin Cash are found on numerous exchanges with names like Binance, Bittrex, Cryptopia, Gate.io, Qryptos, Poloniex, Kraken and many more.
Ever since last summer, when millions of new crypto investors started buying their first Bitcoin, altcoin exchanges have been growing by leap and bounds. The reason is obvious. While those big name cryptos I named above have returned some pretty awesome returns over the past year, the REAL stars, the 2000% 5000% 10,000%++ 'moon shot' returns have been gotten in many of these lesser known but even more exciting altcoins and Binance has the largest selection of altcoins of any exchange.
Of all the crypto exchanges currently operation, Binance currently has taken the lead as world's largest and for good reason. The trading interface and features of Binance are second to none enabling easy buying and selling with limit, market and stop loss orders for all your favorite cryptos. Now using Binance is easy but first you'll have to transfer some of your Bitcoin over to your Binance account so you can make purchases.
From EOS to Ripple to Icon to OMG to Cardana...the list of hot cryptocurrencies to invest in runs several pages long. There are hundreds of new and established coins to invest in including of course all the well-known famous names like Bitcoin, Ethereum, Litecoin and more. Another great thing with Binance is that if you use the BNB token, Binance's own cryptocurrency to pay for trading fees you get 50% off. That's an awesome deal. Now because Binance has become so popular, many of the popular bloggers and Youtubers do reviews on their favorite coins that are sold on Binance and Binance has several cool community and new crypto development features as well for those that want to take their crypto hobby/investing to the next level. They even invest in new crypto ideas and help get them listed on the exchange so you'll have exclusive coins on Binance available nowhere else for at least a time.
Recently there has been such large volume of signups for new accounts that many exchanges, including Binance have had to put a pause on new registrations. Reports are over 1 million new accounts are opening a day. Fortunately, after over a week, Binance has opened up their registration process again and is now taking new customers. I've included a link below so you can get started and soon i'll be posting some step by step instructions on how to use the Binance interface to purchase new coins. Remember, while Bitcoin, Ethereum and some of the other 'big' names are great to be invested in, the real 'life changing' returns, the kind where you turn a few thousand into a retirement fund happen with many of these smaller altcoins. To really make the most of your crypto investing you need to start researching and investing in them and opening a Binance account is your first step. So start with the link below and register your Binance account while they are allowing new registrations. Then after, come back here and we can start discussing which new coin is going to help you get your lambo.
ICOs (Initial Coin Offerings) / Re: Ormeus Coin is the name of a new cryptocurrency assembled by a team of cryptocur« on: January 15, 2018, 12:35:01 AM »
Orme, Could you explain a bit about what you mean by other currencies being pegged to the value of Bitcoin? No crypto i know of is 'pegged' to the value of Bitcoin. Your post is confusing and how is it 'backed' by Bitcoin? What do you mean by that?
You must be new to the crypto space. Bitcoin Cash (BCH) and Bitcoin (BTC) are two different coins. There was a fork of Bitcoin and each Bitcoin holder received an equal amount of Bitcoin Cash. When it was credited to his account he sold it and just bought more original Bitcoin. Get it?
« on: December 20, 2017, 09:41:52 PM »
Site works fine but is very new...just put up in the past few months and not many posters yet. Part of that is because i'm the only mod here. Mods typically startup discussions, answer questions etc and try to get things growing in the forum.
Yes, a hardware wallet is a device where you keep your private keys for your cryptos offline and thus not able to be hacked. There's other advantages as well. The Nano Ledger is an example of one: https://www.ledgerwallet.com/products/ledger-nano-s
Ripple is up over 50% today to 52 cents. Ripple has a huge float...over 38 billion coins. With that kind of circulation what's the realistic top price the coin can go to? Even at 52 cents it's already #4 in market cap.
Litecoin broke $300 today and is currently in the $340 range. Any thoughts on how high a target price is for it? Can we see $1000? higher? I read one report that said as high as $8000-$10,000 within 18 months. That sounds really aggressive but hey, in this market you never know. I think it also depends greatly on Bitcoin's price. Litecoin seems move at around 1/30 or 1/40 of Bitcoin's price.
Cryptocurrency News - Front Page Comments and Discussion / Re: How High Will Bitcoin Price Be By January 1, 2018?« on: December 07, 2017, 08:17:36 PM »
Why would you say Bitcoin will be $12,000 when it already is close to $16,000? Do you expect it to drop? I'm actually expecting it to be around $20,000 by Jan 2018 at this rate.
« on: December 07, 2017, 09:40:08 AM »
Apparently they had some hacking issues during their ICO so they shut everything down and hired this security company to help them go through everything and make sure it's as hacker proof as possible. That's about all I know now. It sounds like an interesting concept...but I'm not sure if the mining of coins on mobile devices is 'real' mining...or some kind of simulation. I mean our mobile processors are not in the same league as dedicated Asics or GPUs used for Bitcoin mining for instance. I guess we'll have to wait and see.
Cryptocurrency News - Front Page Comments and Discussion / Bitcoin Just Passed $17,000. Here's Why It's On Its Way To At Least $100,000« on: December 07, 2017, 12:36:08 AM »
Bitcoin Just passed $17,000. Here's Why It's On Its Way To At Least $100,000 And Why You Need To Buy Some Now.
1. Goldman Sachs has been hiring 'Blockchain' and 'Crypto' Experts and is widely rumored to be working on a 'crypto exchange' that will open sometime in mid-2018.
2. Morgan Stanley has backtracked from its previous skepticism and is now calling Bitcoin 'Digital Gold', saying cryptocurrencies are a new asset class
3. Futures Trading has been approved by both CME, the world's largest options exchange as well as the (CBOE) Chicago Board Options Exchanges.
4. Japan has ruled that Bitcoin is a legal currency and futures trading is being planned for the Tokyo Financial Exchange.
5. Amazon is rumored to be considering accepting Bitcoin as payment for its products, following competitor Overstock.com which already accepts Bitcoin as well as Square, which enables users to pay with Bitcoin.
6. Bitcoin adoption has reached 'critical mass' with the general public and many mainstream institutions accepting it as 'legit'. Bitcoin and cryptocurrency ETFs are now being offered and mainstream publications such as Forbes, Fortune and Time are featuring cover stories on it.
7. The cryptocurrency and blockchain industry is experiencing tremendous job growth and features higher pay and better benefits than comparable positions in other industries
8. There will only ever be 21 million Bitcoins. The Bitcoin protocol doesn't allow for any more. Overwhelming demand meeting this very limited supply is causing and will continue to cause the price of Bitcoin to explode. Some are forecasting it could hit $100,000 and world famous investors are predicting it will go even higher such as Mark Yusko ($400,000) and John McAfee and James Altucher ($1,000,000) within 5 years.
9. Tom Lee of Fundstrat advisors says - If bitcoin captures "5 percent of just the gold market, it's $25,000," Lee added. "But 5 percent seems like an awfully small number. Let's say it's 10 or 15. Then bitcoin could easily be in the $100,000 range." We think this is on the low end.
10. Bitcoin allows you to be in control of your wealth. Instead of putting it in savings or checking accounts, allowing bankers to then use your money to make high risk investments that WE have to bail them out of (like in 2008) when they don't work out, owning Bitcoin allows you to keep possession of your wealth without the risk of someone else's decisions. And by its very nature Bitcoin is a deflationary currency rather than inflationary. This means it will GAIN value as time goes on rather than LOSE value like the US dollar where the Fed can print as much as it wants deflating the price. Bitcoin is a better option for your savings.
Coinbase, the largest and most trusted Bitcoin exchange has added well over 100,000 new accounts in the past 30 days alone due to the exploding value of Bitcoin. This is something you don't want to miss out on.
The time to buy Bitcoin is NOW. You don't have to buy an entire Bitcoin. Even a hundred dollars worth could be worth a nice chunk of cash if Bitcoin keeps increasing in value dramatically.
Coinbase is the world's most popular Bitcoin account and easiest way to buy Bitcoin, especially in the beginning. Do it now and get $10 in Free Bitcoin when opening an account using the referral link below.
Not so sure about that. I think they'll permit exchanges again but have tightened up regulations drastically as far as ICOs and what qualifications or assurances a crypto has to prove before being allowed to trade.
« on: November 30, 2017, 09:04:41 AM »
Bitcoin is the first and original cryptocurrency introduced to the world in 2009. It was created by Satoshi Nakamoto, a mysterious, as yet unidentified figure (or group) that wrote a famous 'white paper' in 2008 introducing the technology and theory behind Bitcoin. Bitcoin is a digital 'currency' as well as 'store of value' that uses an immutable public ledger to record transactions, and permits peer to peer transfer of Bitcoin and therefore value between parties without the need of a 3rd party. The groundbreaking technology that makes Bitcoin possible is called the 'Blockchain'.
Cryptocurrency News - Front Page Comments and Discussion / Why I finally bought Bitcoin (and other cryptocurrencies) and you should too.« on: November 27, 2017, 02:05:18 AM »
(Hint, it's much more than just digital money)
Up until a few months ago, like a lot of people I'd heard of 'Bitcoin' and 'cryptocurrency' but frankly while it seemed mildly interesting, I didn't feel any overwhelming urge to figure out how to get some or use it. It sounded like a less secure, new fangled, roundabout way of paying for things 'electronically' and since so few places accept them for payment vs. the dollar...I didn't see the point. Why bother, right?
Wrong. Boy was I wrong. Because what I didn't understand...and most of you reading this probably don't either...is that many of these new 'cryptocurrencies' that we see in the news are not 'currencies' at all...they are actually a new technology utilizing a structure called the blockchain that are creating the next version of the internet, an internet 3.0 right now...and the vast majority of people have no idea this is going on. How is that you ask? Because many of these digital 'coins' are actually more like operating systems or even programming languages that let you build decentralized applications. What the heck is that you ask? Let me explain.
Let's say you want to buy a product off of Ebay, or Amazon like a pair of shoes. Or perhaps you want to rent a room for a weekend through Airbnb, or get a car ride to the airport through Uber. All of these businesses utilize a middleman that you have to pay a fee to for their service. Think about it. You buy something from Ebay or Amazon and they take their little cut out of the seller's gross. You book a room through airbnb or a car from uber and again...they take a little cut out of the seller's piece or charge a fee to the buyer...either way there's a middleman.
But what if you could get rid of the middle man? What if there was some kind of company that did each of these things...sold goods..rented homes...drove you around....and there was no middle man? What if transactions were peer to peer...you to the seller direct...without the middle man's fee? Well that is exactly what the blockchain allows programmers to do. Create decentralized applications, businesses, markets, etc. It does this by utilizing the blockchain as a way of keeping everyone honest. How? Well, this video does a nice job of explaining it.
But the important thing to realize is that what we are looking at here is basically the dawn of a brand new internet. Just like in 1992-94 nobody could have predicted that Amazon or Uber or Facebook or Google could become the behemoths we see today. Twenty years from now people are going to look back and say the same thing about decentralized, blockchain based companies that will be just as big...or bigger.
It's very likely we'll have decentralized search engines without advertising, we'll have decentralized selling with brand new 'amazons' or 'ebays'. We'll have decentralized banking without the bank taking fees and we'll have virtually every kind of business you can imagine from insurance to education to manufacturing to distribution and it will be done through decentralized applications and companies that basically 'live' on the internet and don't require a middle man taking a fee.
Once you understand this concept the next thing to understand is that the cryptocurrencies that we see today...and the new ones being introduced...are all representative of different kinds of decentralized businesses and these digital 'coins' are being used to fund the development of these businesses. Now there are some like Bitcoin and Litecoin that are still just digital money. But others like Ethereum, Golem, Stratis, EOS, Factom and others each represent a new type of decentralized company or platform that are part of this new internet 3.0. And in order to use any of these companies or platforms you'll have to know how to use these new 'digital currencies'.
Some of these new kinds of decentralized companies are already in operation. For instance http://steemit.com is a hybrid of reddit and facebook where you use Steem coins as a way of rewarding content. Instead of Zuckerberg and staff at FB choosing what to show you...it's more democratic and the use of Steem coin rewards content makers.
So how do I begin getting into this world? What's the first baby step I can take? Open a Coinbase account.
Coinbase is the oldest and most reliable and safe of the online wallets to start buying your first digital 'coins' with. You can buy a bit of Bitcoin or Ethereum or Litecoin...the three coins they currently support...and begin to learn how to use them. For example, you can purchase some 'Steem' at Steemit.com by opening an account there and sending some Bitcoin to yourself from Coinbase to Steemit. Then you'll convert that Bitcoin to Steem to use.
As you become more comfortable with these currencies you might want to open a trading account on a site like Poloniex or Bittrex...which just like a stock market trading site allows you to buy, sell or just watch all kinds of digital coins and see their values fluctuate just like a stock.
But frankly the very first step you should take, just so you can get started and start to explore is to open a Coinbase account.
Right now Coinbase has a promotion where they're offering $10 in free Bitcoin to you if you open an account with just $100, which is exactly what I did to start. Then you can start playing with it. Another great thing about Coinbase is that any cash you have in the account is FDIC insured just like a savings account at your local bank (this protection doesn't apply to the cryptocurrencies though, just your cash, although they have insurance to protect your crypto too). One of the first things I did was transfer half of my Bitcoin into Ethereum right within my Coinbase account so in mere minutes I was now both a Bitcoin and Ethereum owner and I could build from there.
Want to learn even more and become a cryptocurrency expert? Start reading sites like Cointelegraph.com and Coindesk.com and TheMerkle.com to learn more about all these new currencies and what they do.
Look, I know it seems intimidating at first. But trust me, this is not just the future of money, it's the future of the internet being built right in front of our eyes. This is an amazing opportunity. Don't miss out like you did the last time. Just think how many times you've told yourself 'if i had just invested in Facebook or Netflix or Amazon back in 199x...well this is your next chance...because the next version of the internet...the decentralized internet is happening right now, today. Open your Coinbase account and take your first step into that world today. You'll thank me later.