The Bitcoin (crypto) Beginner's Guide

Discussion of all things crypto and blockchain.
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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Fri Jan 05, 2018

natsb88 wrote:and we don't have high frequency trading computers on the floor of every exchange to play arbitrage and eat up the price differences from one exchange to another like we do in the stock market.


There isn't enough volume or liquidity there yet. If there was, they would set-up shop. The HTFs that are market participants only deal with the "big 3 " and maybe Ripple. Virtu Financial is an HFT that is definitely in the Bitcoin market, there are also 3 others I'm aware of, but I can't recall their names.
Last edited by Bucketeer on Sat Jan 06, 2018, edited 1 time in total.
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LittleAbner
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Re: The Bitcoin (crypto) Beginner's Guide

Postby LittleAbner » Fri Jan 05, 2018

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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Sat Jan 06, 2018

Gentlemen prefer Engelhard.

Recluse
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Recluse » Sat Jan 06, 2018

If you are waiting in Bittrex verification purgatory, can you still transfer crypto in and trade?
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SilverDoge
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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Sat Jan 06, 2018

Recluse wrote:If you are waiting in Bittrex verification purgatory, can you still transfer crypto in and trade?


I don't think so. They aren't accepting new applicants until further notice. Binance just did the same thing after getting 250,000 applicants in a 24 hour period (so I heard). I would suggest KuCoin and HitBTC as the next 2.

It might be a good idea to just create an account on several exchanges whether you plan on using them or not.
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Recluse
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Recluse » Sat Jan 06, 2018

SilverDoge wrote:
Recluse wrote:If you are waiting in Bittrex verification purgatory, can you still transfer crypto in and trade?


I don't think so. They aren't accepting new applicants until further notice. Binance just did the same thing after getting 250,000 applicants in a 24 hour period (so I heard). I would suggest KuCoin and HitBTC as the next 2.

It might be a good idea to just create an account on several exchanges whether you plan on using them or not.


Yeah that is what I did back in October. I just started the verification process. Reading on Reddit suggests that withdrawal is not allowed until verification but exchanging was allowed.
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Diggin4copper
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Diggin4copper » Sat Jan 06, 2018




WHAT IS BITCOIN BASED ON?
Conventional currency is commonly based on silver or gold. For example if you handed over a Euro or Dollar at the bank, you could get some gold back. But the case it different with Bitcoins, they are based on mathematics.

I’m trying to learn, but I can’t read this..She lost me in the 5th paragraph........
Outstanding!

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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Sat Jan 06, 2018

I'm not sure what she is trying to sat there either. Just keep reading, it will start to make sense.
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Zugzwang
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Zugzwang » Mon Jan 08, 2018

HIya All,

Since this is a beginner's thread, I am going to post some beginner's questions :shock:

In the beginning... wallets, hot, hardware, web... Most info for beginners points one to web wallets. This reminds me of the places where one might store a silver ira.

If one doesn't hold it...?

How does one make a hot wallet?

TIA,
Zz.
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If U.S. Dollars were miles, the U.S. national debt could be expressed in light years -- over 3 now, and counting...

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BarsandStars
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Re: The Bitcoin (crypto) Beginner's Guide

Postby BarsandStars » Mon Jan 08, 2018

Here's another noob question. Considering Binance, bittrex and apparently others are not taking new users, what other options are there? I've had a coinbase account for a while and gave up after numerous attempts to verify my ID. I finally got it done over the weekend using the coinbase app but now I'm in the position that it seems every exchange I want to join is not taking new members. That leaves me with BTC, BCH, ETH, LTC as my options for my first purchase on coinbase. I'm leaning towards LTC but am wondering, for my first purchase, should I buy BTC instead? Originally I was going to buy BTC, then transfer it elsewhere to buy Alt coins. Since many exchanges are not taking new members, would it make more sense to buy some LTC and hold it until the other exchanges open back up? (sorry I refuse to say HODL) lol

What kills me is I opened that coinbase account when PIVX was first being talked about on this forum back when it was like $0.65. I chickened out and never went any further with it.
Joining Binance to trade cryptos? Click my referral link below!
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SilverDoge
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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Mon Jan 08, 2018

BarsandStars wrote:Here's another noob question. Considering Binance, bittrex and apparently others are not taking new users, what other options are there? I've had a coinbase account for a while and gave up after numerous attempts to verify my ID. I finally got it done over the weekend using the coinbase app but now I'm in the position that it seems every exchange I want to join is not taking new members. That leaves me with BTC, BCH, ETH, LTC as my options for my first purchase on coinbase. I'm leaning towards LTC but am wondering, for my first purchase, should I buy BTC instead? Originally I was going to buy BTC, then transfer it elsewhere to buy Alt coins. Since many exchanges are not taking new members, would it make more sense to buy some LTC and hold it until the other exchanges open back up? (sorry I refuse to say HODL) lol

What kills me is I opened that coinbase account when PIVX was first being talked about on this forum back when it was like $0.65. I chickened out and never went any further with it.


My understanding is Binance just re-opened the registration process. If you'd like my referral code for Binance - send me a PM.

I also suggest KuCoin & HitBTC for opening an account to have a backup or two. For buying alt-coins, you usually want either BTC or ETH - as those are the most common trading pairs. What you choose to acquire is a matter of personal preference though so I don't really advise one over the other.
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fusion555
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Re: The Bitcoin (crypto) Beginner's Guide

Postby fusion555 » Tue Jan 09, 2018

Iv had a few bitcoin for a while now but havnt logged into my Coinbase account for a while, logged in and i find i have some Bitcoin Cash, what the heck is that and what can i do with it?
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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Tue Jan 09, 2018

Bitcoin Cash was the result of a fork in Bitcoin. You know own 2 coins. You can hold it or sell it. Think of it as a "stock spinoff". It is a good thing.
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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Tue Jan 09, 2018

BarsandStars wrote:(sorry I refuse to say HODL) lol

SilverDoge wrote:Once again, the HODL'ers are the winners.


I used to feel the same way, but not anymore. It takes time to get there.
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fusion555
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Re: The Bitcoin (crypto) Beginner's Guide

Postby fusion555 » Tue Jan 09, 2018

Bucketeer wrote:Bitcoin Cash was the result of a fork in Bitcoin. You know own 2 coins. You can hold it or sell it. Think of it as a "stock spinoff". It is a good thing.



Thank you, can i convert it to Bitcoin within the Coinbase platform?
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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Tue Jan 09, 2018

You can sell it on Coinbase, put the proceeds into your USD wallet, and then buy Bitcoin. You can also do that on GDAX without the fees.
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SilverDoge
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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Tue Jan 09, 2018

Zugzwang wrote:HIya All,

Since this is a beginner's thread, I am going to post some beginner's questions :shock:

In the beginning... wallets, hot, hardware, web... Most info for beginners points one to web wallets. This reminds me of the places where one might store a silver ira.

If one doesn't hold it...?

How does one make a hot wallet?

TIA,
Zz.


See here (page 1): http://www.bullionstacker.com/viewtopic.php?f=108&t=28780#p549748

Or here: http://www.bullionstacker.com/viewtopic.php?f=108&t=28121
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SilverDoge
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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Tue Jan 09, 2018

fusion555 wrote:
Bucketeer wrote:Bitcoin Cash was the result of a fork in Bitcoin. You know own 2 coins. You can hold it or sell it. Think of it as a "stock spinoff". It is a good thing.



Thank you, can i convert it to Bitcoin within the Coinbase platform?


Create a GDAX: - To link your Coinbase & GDAX account, see this link: https://support.gdax.com/customer/porta ... es/2436705

Then do a swap using the BTC/B-cash pair so you aren't paying trading fees. Use a limit order.
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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Tue Jan 09, 2018

Bingo!
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Re: The Bitcoin (crypto) Beginner's Guide

Postby texmex66 » Tue Jan 09, 2018

Coin Market Cap removes South Korean Exchanges. Not new news and why you see a lot of red even though some of the cryptos you own havent declined in value as CMC may suggest except Ripple. :D

https://cointelegraph.com/news/coinmark ... 20-billion

:pop:


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