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Anyone Invested in crypto?
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hoosierdoc
Freed prisoner
Every week I wish I had invested last week 
LTC I expect to make really good gains next year.
I don't know how legit this is (never really looked at the fundamentals) but I love looking at this site:
https://longforecast.com
hoosierdoc
Freed prisoner
They predict a correction in October of 2021? Is this like dowsing?
Pretty much. Only idiots predict specific dates for tops/bottoms. They are rarely called on it when they are wrong, but will happily crow about it if they are close to correct. Responsible professionals/advisors almost never do get that specific, which pisses off amateurs who just want easy answers. It is possible to make educated guesses on directions using technical indicators, but that only improves your odds, rather than giving you reliable answers.
I'm just wondering when the big correction will come for Bitcoin. There is a lot of euphoria right now on these incredibly rapid gains. Easy to enjoy the rise, but if you look at any stock/crypto chart, they are never straight up. Even really good ones have periodic corrections.
I am still so confused on Bitcoin. I deal with buying and selling stocks and options everyday.......and I have no clue, nor can I figure out how Bitcoin works. I really want to buy some Ripple and NAV....but can I keep these all in same wallet? What wallet do you use? How do I keep from getting ripped off?
If this stuff ever becomes mainstream.....where it is easy to use and figure out.....I think it will continue to go up.
Do I have to have a wallet to use them ATM's for BTC?
If this stuff ever becomes mainstream.....where it is easy to use and figure out.....I think it will continue to go up.
Do I have to have a wallet to use them ATM's for BTC?
You can buy an electronic wallet, and configure it to store whichever currencies you like. Some of the most popular, are the Trezor and Ledger Nano. They can be kept in the same wallet, but check the devices to see it they can be supported. If you keep them in such a device, you can't be ripped off, even when connected to then internet, because the key's are kept secure on the device.
You do not have to use an outside wallet to use a BTC ATM, it will print you a "paper" wallet, which you can transfer, at some point, to your device.
BTC price at time of posting: $16,480.00
Full answers to your questions would be multiple articles long. Here are short answers that still ended up being a long post:
nor can I figure out how Bitcoin works- I recommend the first three videos in this series to get an easy to understand explanation of the technology behind blockchain cryptos like Bitcoin.
Ripple and NAV....but can I keep these all in same wallet?- Not really. Most wallets are single coin. There are a few- software (ex: Jaxx) and hardware (ex: Ledger Nano) that support multiple specified cryptos. NAV is relatively obscure and won't be supported by those solutions. Another possible solution is to keep those cryptos on an exchange, which is much like a brokerage account. But realize that there is no crypto-FDIC and if the exchange goes under or is hacked, you may lose some/all of your crypto. Dealing with a reputable exchange greatly reduces your risk, but doesn't eliminate it. The only way to truly control access to your crypto is to use your own wallet and properly protect it.
What wallet do you use? How do I keep from getting ripped off? I have a fairly diverse portfolio of cryptos. I keep very little in electronic wallets right now. I use Bitcoin Core on a PC for my small at-hand holdings. It is very good, but has a downside that it keeps a local copy of the entire Bitcoin blockchain- currently 160 gigabytes of data that is constantly updating and growing. For most people, I recommend using an SPV wallet that is much lighter weight and relies on the network to verify transactions, rather than having the blockchain locally. I maintain good info-security practices in general, but realize that any PC/phone wallet can be lost/hacked/broken, so I don't keep much there. I treat electronic wallets much like the one in my pocket, as a place for spending money, not my larger investment portfolio. I also keep regular backups as electronic wallets are just data files.
For larger/longer-term holdings, I use paper wallets which are a way to keep your keys entirely offline and non-hackable. The data on the paper is encrypted, so having one stolen won't result in losing the coins. I also have multiple copies stored in multiple locations for theft/fire protection. Hardware wallets are another high-security solution that have plusses and minuses over paper.
I do not keep money in exchanges at the moment as I have not traded recently and want to avoid the risk of them getting hacked or going rogue and stealing my crypto (both have happened). Dealing with the most well known and reputable exchanges greatly reduces those risks. I will be pulling some of my BTC out of my paper wallet and sending them to an exchange soon and diversifying into a couple of other cryptos that I'm interested in. I use Poloniex for crypto-swaps (as opposed to cash purchases), but I've heard that Binance is also very good. Coinbase is a very good way to convert dollars to Bitcoin/Litecoin/Ethereum and back, but they don't support the wide range of possible inter-crypto exchanges. Because they deal with dollars, Coinbase (and similar cash-crypto exchanges) have much greater regulation to deal with than crypto-only exchanges.
If this stuff ever becomes mainstream.....where it is easy to use and figure out.....I think it will continue to go up. Cryptos *will* become mainstream. But not yet. They still have a lot of improvement and maturing to do before they are really routine to use. Any specific crypto (including Bitcoin) may fail and be superceded along the way. Early adopters of new technology must deal with the growing pains and accept the risks/possible benefits.
Do I have to have a wallet to use them ATM's for BTC? ATMs are one way to buy Bitcoin (BTC). They often have high fees. You can also buy via online exchanges or by direct purchase from a BTC holder. There are different BTC ATMs. The bulk of them simply accept dollars (cash or CC) and send you BTC, but some can do the reverse. You need a wallet to store the BTC.
nor can I figure out how Bitcoin works- I recommend the first three videos in this series to get an easy to understand explanation of the technology behind blockchain cryptos like Bitcoin.
Ripple and NAV....but can I keep these all in same wallet?- Not really. Most wallets are single coin. There are a few- software (ex: Jaxx) and hardware (ex: Ledger Nano) that support multiple specified cryptos. NAV is relatively obscure and won't be supported by those solutions. Another possible solution is to keep those cryptos on an exchange, which is much like a brokerage account. But realize that there is no crypto-FDIC and if the exchange goes under or is hacked, you may lose some/all of your crypto. Dealing with a reputable exchange greatly reduces your risk, but doesn't eliminate it. The only way to truly control access to your crypto is to use your own wallet and properly protect it.
What wallet do you use? How do I keep from getting ripped off? I have a fairly diverse portfolio of cryptos. I keep very little in electronic wallets right now. I use Bitcoin Core on a PC for my small at-hand holdings. It is very good, but has a downside that it keeps a local copy of the entire Bitcoin blockchain- currently 160 gigabytes of data that is constantly updating and growing. For most people, I recommend using an SPV wallet that is much lighter weight and relies on the network to verify transactions, rather than having the blockchain locally. I maintain good info-security practices in general, but realize that any PC/phone wallet can be lost/hacked/broken, so I don't keep much there. I treat electronic wallets much like the one in my pocket, as a place for spending money, not my larger investment portfolio. I also keep regular backups as electronic wallets are just data files.
For larger/longer-term holdings, I use paper wallets which are a way to keep your keys entirely offline and non-hackable. The data on the paper is encrypted, so having one stolen won't result in losing the coins. I also have multiple copies stored in multiple locations for theft/fire protection. Hardware wallets are another high-security solution that have plusses and minuses over paper.
I do not keep money in exchanges at the moment as I have not traded recently and want to avoid the risk of them getting hacked or going rogue and stealing my crypto (both have happened). Dealing with the most well known and reputable exchanges greatly reduces those risks. I will be pulling some of my BTC out of my paper wallet and sending them to an exchange soon and diversifying into a couple of other cryptos that I'm interested in. I use Poloniex for crypto-swaps (as opposed to cash purchases), but I've heard that Binance is also very good. Coinbase is a very good way to convert dollars to Bitcoin/Litecoin/Ethereum and back, but they don't support the wide range of possible inter-crypto exchanges. Because they deal with dollars, Coinbase (and similar cash-crypto exchanges) have much greater regulation to deal with than crypto-only exchanges.
If this stuff ever becomes mainstream.....where it is easy to use and figure out.....I think it will continue to go up. Cryptos *will* become mainstream. But not yet. They still have a lot of improvement and maturing to do before they are really routine to use. Any specific crypto (including Bitcoin) may fail and be superceded along the way. Early adopters of new technology must deal with the growing pains and accept the risks/possible benefits.
Do I have to have a wallet to use them ATM's for BTC? ATMs are one way to buy Bitcoin (BTC). They often have high fees. You can also buy via online exchanges or by direct purchase from a BTC holder. There are different BTC ATMs. The bulk of them simply accept dollars (cash or CC) and send you BTC, but some can do the reverse. You need a wallet to store the BTC.
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On a related note, Very early in the game I dabbled a bit. I accumulated around a hundredth of a bitcoin due to a couple weeks/months of casual mining. I didnt think much of it at the time because I had like $5-10 worth at that rate.
So there is a cryptowallet floating around out there with about $150 in bitcoin inside. I have absolutely ZERO idea where it is nor the password/hashes to access it. Oh well.
I wonder how many more "orphaned" currency is out there?
The most reasonable way, is to move your money to an exchange and then cash out. If you're using a US based exchange the KYC rule will mean that your earnings will be reported, and you will liable for taxes.... that's my suggested route. However, in Europe, you can actually anonymously exchange in certain places. Heck they actually have ATMs that will do it. If you're the sneaky type and want to circumvent taxes, it actually (depending on your holdings) might be cheaper to buy a ticket to Europe just to exchange, lol.
On a related note, Very early in the game I dabbled a bit. I accumulated around a hundredth of a bitcoin due to a couple weeks/months of casual mining. I didnt think much of it at the time because I had like $5-10 worth at that rate.
So there is a cryptowallet floating around out there with about $150 in bitcoin inside. I have absolutely ZERO idea where it is nor the password/hashes to access it. Oh well.
I wonder how many more "orphaned" currency is out there?
LOTS
Man who ?threw away? bitcoin haul now worth over $80m wants to dig up landfill site | The Independent
Glenn Beck interviews the creator of Litecoin (LTC), Charlie Lee, and get his thoughts on Bitcoin, Litecoin, and the future of cryptocurrencies.
[video=youtube;Gp-uS_-4LnQ]https://www.youtube.com/watch?time_continue=816&v=Gp-uS_-4LnQ[/video]
[video=youtube;Gp-uS_-4LnQ]https://www.youtube.com/watch?time_continue=816&v=Gp-uS_-4LnQ[/video]
snapping turtle
Grandmaster
I was looking in my PayPal account and it showed 7 bit coins. When it went nuts I thought I would cash out two. Went into the wallet and I have only 5 bit coins. It seems my PayPal was still linked to an old wallet in which I had moved them to the new wallet. I never owned 7 just 5. Still felt like I had lost 30k in money.
Still rhinking of of cashing out of one. Lots of profit in that stuff at the moment. Just scares me to mess with them much because like a poker player you hate to fold a hand with such a big pot on the table.
Still rhinking of of cashing out of one. Lots of profit in that stuff at the moment. Just scares me to mess with them much because like a poker player you hate to fold a hand with such a big pot on the table.
snapping turtle
Grandmaster
People always ask what I want for xmas. I always say a pound of twenties. I think I will take out a pound of 20's at least.
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