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Crypto Journal

Discussion in 'Bitcoin Forum' started by tuliptrader, Oct 29, 2016.

  1. tuliptrader

    tuliptrader New Member

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    This is part Trade Journal and part Introduction to Cryptocurrencies, I will post some investments of mine in this thread but you may also see it as a place where you can ask questions about cryptos in general and i will do my best to answer them,i am gonna start with a very small intro to crypto/trading.

    I am not going to explain the basics about cryptos, the actual technical implementation is somwehat different for each of them, google is your friend.

    Basically all cryptos run on a database/ledger that is distributed among many many nodes around the globe, for most cryptos it is very easy to run your own node and thushelp to ensure the integrity of that database, and shittons of people do this.

    I know that every once in a while some news site will come up with a new "bitcoin got hacked" article, all of them are stupid and false, bitcoin and other crypts can not be hacked, it runs a protocal that can not be hacked, you can actually mathematically prove that those protocols are secure, the only way one could "attack" a crypto is when one entity has majority of the nodes ( / computation power ) that runs the network, this however would be extremely expensive and is more than unikely for big currencies. Exchanges and centralized services however can be hacked, thats what thoose articles refer too, for example the famous mtgox hack ( japanaese exchange ) or more recently bitfinex.

    Also every once in a while some politicians come up with the idea of banning cryptos in their country, (mosty because you can use it to make transactions anonymously -> terror financing / illegal activites, this is part of cryptos but most of this is still done with fiat currencies or just cash, cryptos make up a few percent of that illegal ecosystem at best ) based on the distributed nature of cryptos this is as impossible as banning the internet, they could however make it illegal for businesses to accept bitcoin.


    Websites you should know about:
    Exchanges / where to buy BTC: bitfinex.com / coinbase.com
    After you buy bitcoins you can store them on your pc in an wallet like: https://electrum.org/#home
    Biggest crypto forum: https://bitcointalk.org/
    marketcap of different currencies: http://coinmarketcap.com/
    Biggest Altcoin exchange: poloniex.com ( Altcoin = ohter cryptos than bitcoin )
    no one really knows the owner of poloniex, but no one really cares, do not expect public companies when it comes to cryptos.

    Bitcoin was the first cryptocurrencyy, think of it as the digital gold, still has the largest marketcap but other currencies are more advanced than bitcoin,for example

    Etherum is like a global distributed computer that can do things with money. you can upload small programms ( smart contracts ) that then run on the distrubuted database.

    Those are the 2 biggest as of now.

    Sometimes when a new Cryptocurrency is introduced all of the available tokens/coins are sold before the actual cryptocurrency goes online, a ongoing example of such a an ICO is

    https://komodoplatform.com/

    komodo is is an upcomming Currency that will feature anonymous transactions, investors can now buy a share of all komodo tokens ever in existence, and once it is live those tokens can then be used or sold on exchanges like poloniex.

    Sometimes thoose ICO's turn out to be extremely profitable, A year ago I invested in this currency:

    https://bitcointalk.org/index.php?topic=1216479.0

    although it is still in development iota tokens can already be sold OTC, i personally made about 50x ROI with this currency.

    I am not ecouraging people to blindy invest, most ICO's are scams and pump and dump schemes, but you can make nice profits if you know what you are doing and if you look at who is running those icos, komodo and iota where both created by very trustworthy members of the bitcoin community.

    Personally i invested into komodo, I do not expect a ROI anywhere close to that 50x IOTA ROI, but i do expect a nice return within a few months or so, will post updates on komodo in this thread.
     
    T0rm3nted and Onepoint272 like this.
  2. Tiptopptrader

    Tiptopptrader Well-Known Member

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    Welcome to the board @tuliptrader but I don't think the Cryptocurrencies are for me but each to their own. BTW: Are you connected to Jenny Rebekka?

    TTT
     
  3. tuliptrader

    tuliptrader New Member

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    Thanks! / No, no connection
     
  4. tuliptrader

    tuliptrader New Member

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    Havent had much time to look into this much but this could turn out to be interresting:

    https://chronobank.io/
     
  5. BermudianOption

    BermudianOption Active Member

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  6. Timbo

    Timbo Active Member

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    He hasn't been on in over a year..
     

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