Official BGOL Crypto Currency Thread ★★★★★

[Dannyblueyes]

That's the thing I did get it from this thread lol

I put in like 100 posts to push thus forward and get us inspired
Now I mostly look at the thread and read the thoughts and tips and go for it

If I had a scoop that you guys didn't then I'd most definitely share no doubt about it

For me I came up off eth so all the alternative coin stuff I'm doing is stuff where I'm reading the info here and then gambling basically

Nothing heavy.

Also I kind of fell back on giving advice on the alt coins because I'm only as well versed as the ppl who are just now experiencing the trend we're dealing with now and I know that if I say to do something, not like in an ego way but just in a matter of fact way, then people will do it.

I've made money and I've lost money as well and I kind of don't want to be the guy that loses ppl money feel me?

From now on tho if I get a really strong feeling and I'm going to gamble I'll say I'm gambling with the disclaimer I'm not saying everyone do it, just that I am.

I feel you 100%

I'm a Bitcoin enthusiast. When the price rose in December I earned and sold enough to fund all of my Christmas shopping and a lot of my DJ equipment. My girl asked me why I hadn't encouraged her to buy any.

This month she had her answer.

This proposed hard fork is fucking with the price. When it actually happens the price will take an even bigger hit before it goes back up. Meanwhile the few etherium coins I bought on a lark last year have quadrupled.

People need to realize that these kinds of volatile investments are the same as gambling. The only difference is that you get WAY better odds than you would with a casino table or lottery ticket.

 

[An RnB Thug]

https://www.alexfortin.com/top-5-crypto-currencies-invest-2016/


The world of crypto currency is moving really fast. Over the past 5 years Bitcoin outperform any other investment like gold, stock market or real estate.

Over the past years hundreds of new crypto currencies came on the market. Most of them are just copy cat or only have a few features that make them different.

Only a handful of those crypto currencies are real outliers. Those unique ones disrupt their industry just like bitcoin did with the financial sector.

The following top 5 crypto currencies are outliers and are the one I am sure will go up in value by 10x-100x over the next 2 years. (Roger ver, here is my prediction)

1. Ethereum

Ethereum is a true outlier. It’s a platform that allows to create smart contract that runs on a decentralize network. The team behind Ethereum is very smart. I always look up the people that are behind a project before investing and Ethereum has 100% of my confidence. Those guys rock.

Other then the team, the degree of adoption that Ethereum gets at the moment is phenomenal. Because ethereum is a platform where developer can deploy Dapps, a lot of inovation is being made at the moment and each one of those innovation boost the adoption rate of Ethereum and create a network effect.

If one currency can make it big, it is Ethereum. It already grew 1000% over the past few months and I can see the currency go another 1000% easily if not more over the next few months and years.

Ethereum is the only crypto-currency that I believe has the capacity to overtake Bitcoin Market cap in the near future.

Current Market Cap: $816,840,813

Price: $10.54 US

Prediction: Ethereum is the crypto currency that has the most potential. I think it could be possible to see it overtake Bitcoin in Market Cap. 500$/ether is something plausible in the near future.

2.Factom

Factom is another fantastic cryptocurrency that used to be called “Notary Chain” that should grow by a lot this year.

Factom allows companies to create immutable database.

Factom store information in their own blockchain and then create a hash of that data and stores it into the Bitcoin blockchain. They are also working on adding that hash into ethereum and other big blockchain to add protection.

Factom just got a huge contract with 20 smart cities in China and are working with other countries to create immutable data base. This will allow those government to stream line and secure their data.

The market for Factom is huge and they definitly are outliers. The people behind Factom are also very smart. I am looking forward the growth of this company.

Current Market Cap: $10,408,536

Price: $1.19 US

Prediction: Factom is getting mass adoption very quickly, I can see it growing to $30 before the summer.

3.MaidSafe

Maidsafe has been around for quite a while now. 10 years exactly and they finally launch their Alpha MVP this week. Maidsafe is a decentralize database.

Instead of storing data on your computer, with maidsafe you can encrypt and upload it on the decentralise server. That way no one person can access your data without your permission. It is 100% secure and it doesnt use any space.

This decentralise database will make it possibe for whistle blower to share information without having the fear of seeing the governement or other group censor them. It is the internet uncensored.

Again, the people behind maidsafe are real geniuses. When you listen to them, you know that their vision is the future. I am so excited to have the safenet working. Once the safenet goes live the crypto-currency behind their project should skyrocket to the moon. It already went 10x over the past few months but thats nothing compare to what is coming.

Maidsafe has the capacity to revoluionize the internet as we know it. They are really amazing. Only people in the crypto-world know them because they are in Alpha, but as soon as they are live ( a few months) You will see them on every newspaper.

Right now you can only purchase their temporary coins called MaidSafeCoin. Im not sure how the exchange process will work so that is the only thing stopping me from investing heavily in this one.

Current Market Cap: $46,466,724

Price: $0.10 US

Prediction: once they go live, their price will sky rocket to a few dollars for sure. I really think they can revolutionize the internet so their price should reflect that in the long term. 600$ in a few years.

4. Bitcoin

Bitcoin has proven a store of value over the past few years and it is currently trading at 410$ today. The price vary a lot but it outperformed all the other investment vehicle by a lot.

Bitcoin has the network effect and most people have heard of Bitcoin. But this is not a panacea because Myspace had the network effect at some point and they lost their position over better platforms like Facebook.

Over the past few years, Bitcoin got a lot of venture capital money so we should see very interesting apps and project coming to the market in 2016. All those companies will drive wider public adoption which would drive the price up.

One problem with bitcoin is that it’s block size limit reached the maximum amount of transaction it can process. It will need to overcome this before the price can start climbing again.

Current Market Cap: $6,275,855,363

Price: $410 US

Prediction: With the stock market going down, people will be looking for a safe heaven. I think it can reach 1200$ before the end of the year if they don’t get overtaken by Ethereum. If they get overtaken, we might see the price drop instead as people transfer to this better option.

5.Ripple

Ripple is my last choice. The Banking system is trying to catch up on what Bitcoin did to them. The only thing stoping bitcoin right now is slow rate of adoption. Ripple pivoted into the banking market and recently closed a deal with SBI Bank, one of the main financial institution in Asia.

I heard that Ripple was trying to do something with the w3c consortium and I heard of Ripple trying to close a deal with RBC bank. So there is no big tornado yet but it seems like they are working hard behind the scene and something big might come out in the near future.

One thing I know is that the banking system would rather deal with a stable crypto-currency rather than one that fluctuate a lot, so Im not sure how that will play out with Ripple.

I wouldn’t hold my breath and I’m not too interested to see the banking system win, all I want is to see bitcoin succeed. But I keep Ripple in the top 5 because I can see them being disruptive to the banking industry in the future.

Current Market Cap: $276,170,587

Price: 0.008 US

Prediction: If Ripple can prove that they are the solution for the banking industry, their valuation could skyrocket. Until then, let’s watch on the side line.

I think that Bitcoin, Ethereum, Factom and Maidsafe all do something very different and they complete each other. No one could do what the other one can do. They are all necessary in their adoption rate is very fast. This is why those are my main bet for the 5 best crypto currencies of 2016. Ripple is a long shot but is worth following.

Crypto currency are one of the biggest opportunies for investor out there. Forget about gold or the stock market. Crypto are the revolution and if you don’t want to be left behind, you better get started.

If you want to buy Bitcoin, Coinbase is the exchange I personally use. You can buy Bitcoin and Ethereum and receive Bitcoin payment directly into your bank account.

 

[JaRonin]

Now that this thread is stickied and is over 100 pages in 3 months, I think I need to start paying close attention.

Props to all the posters here for the healthy discussion. Ima throw a couple of bucks at this shit and see what it do.

 

[LSN]

Ditto to everything brother. We all know this is risky as a crap game in the project hallways.

haa funny analogy!

 

[^SpiderMan^]

https://www.alexfortin.com/top-5-crypto-currencies-invest-2016/


The world of crypto currency is moving really fast. Over the past 5 years Bitcoin outperform any other investment like gold, stock market or real estate.

Over the past years hundreds of new crypto currencies came on the market. Most of them are just copy cat or only have a few features that make them different.

Only a handful of those crypto currencies are real outliers. Those unique ones disrupt their industry just like bitcoin did with the financial sector.

The following top 5 crypto currencies are outliers and are the one I am sure will go up in value by 10x-100x over the next 2 years. (Roger ver, here is my prediction)

1. Ethereum

Ethereum is a true outlier. It’s a platform that allows to create smart contract that runs on a decentralize network. The team behind Ethereum is very smart. I always look up the people that are behind a project before investing and Ethereum has 100% of my confidence. Those guys rock.

Other then the team, the degree of adoption that Ethereum gets at the moment is phenomenal. Because ethereum is a platform where developer can deploy Dapps, a lot of inovation is being made at the moment and each one of those innovation boost the adoption rate of Ethereum and create a network effect.

If one currency can make it big, it is Ethereum. It already grew 1000% over the past few months and I can see the currency go another 1000% easily if not more over the next few months and years.

Ethereum is the only crypto-currency that I believe has the capacity to overtake Bitcoin Market cap in the near future.

Current Market Cap: $816,840,813

Price: $10.54 US

Prediction: Ethereum is the crypto currency that has the most potential. I think it could be possible to see it overtake Bitcoin in Market Cap. 500$/ether is something plausible in the near future.

2.Factom

Factom is another fantastic cryptocurrency that used to be called “Notary Chain” that should grow by a lot this year.

Factom allows companies to create immutable database.

Factom store information in their own blockchain and then create a hash of that data and stores it into the Bitcoin blockchain. They are also working on adding that hash into ethereum and other big blockchain to add protection.

Factom just got a huge contract with 20 smart cities in China and are working with other countries to create immutable data base. This will allow those government to stream line and secure their data.

The market for Factom is huge and they definitly are outliers. The people behind Factom are also very smart. I am looking forward the growth of this company.

Current Market Cap: $10,408,536

Price: $1.19 US

Prediction: Factom is getting mass adoption very quickly, I can see it growing to $30 before the summer.

3.MaidSafe

Maidsafe has been around for quite a while now. 10 years exactly and they finally launch their Alpha MVP this week. Maidsafe is a decentralize database.

Instead of storing data on your computer, with maidsafe you can encrypt and upload it on the decentralise server. That way no one person can access your data without your permission. It is 100% secure and it doesnt use any space.

This decentralise database will make it possibe for whistle blower to share information without having the fear of seeing the governement or other group censor them. It is the internet uncensored.

Again, the people behind maidsafe are real geniuses. When you listen to them, you know that their vision is the future. I am so excited to have the safenet working. Once the safenet goes live the crypto-currency behind their project should skyrocket to the moon. It already went 10x over the past few months but thats nothing compare to what is coming.

Maidsafe has the capacity to revoluionize the internet as we know it. They are really amazing. Only people in the crypto-world know them because they are in Alpha, but as soon as they are live ( a few months) You will see them on every newspaper.

Right now you can only purchase their temporary coins called MaidSafeCoin. Im not sure how the exchange process will work so that is the only thing stopping me from investing heavily in this one.

Current Market Cap: $46,466,724

Price: $0.10 US

Prediction: once they go live, their price will sky rocket to a few dollars for sure. I really think they can revolutionize the internet so their price should reflect that in the long term. 600$ in a few years.

4. Bitcoin

Bitcoin has proven a store of value over the past few years and it is currently trading at 410$ today. The price vary a lot but it outperformed all the other investment vehicle by a lot.

Bitcoin has the network effect and most people have heard of Bitcoin. But this is not a panacea because Myspace had the network effect at some point and they lost their position over better platforms like Facebook.

Over the past few years, Bitcoin got a lot of venture capital money so we should see very interesting apps and project coming to the market in 2016. All those companies will drive wider public adoption which would drive the price up.

One problem with bitcoin is that it’s block size limit reached the maximum amount of transaction it can process. It will need to overcome this before the price can start climbing again.

Current Market Cap: $6,275,855,363

Price: $410 US

Prediction: With the stock market going down, people will be looking for a safe heaven. I think it can reach 1200$ before the end of the year if they don’t get overtaken by Ethereum. If they get overtaken, we might see the price drop instead as people transfer to this better option.

5.Ripple

Ripple is my last choice. The Banking system is trying to catch up on what Bitcoin did to them. The only thing stoping bitcoin right now is slow rate of adoption. Ripple pivoted into the banking market and recently closed a deal with SBI Bank, one of the main financial institution in Asia.

I heard that Ripple was trying to do something with the w3c consortium and I heard of Ripple trying to close a deal with RBC bank. So there is no big tornado yet but it seems like they are working hard behind the scene and something big might come out in the near future.

One thing I know is that the banking system would rather deal with a stable crypto-currency rather than one that fluctuate a lot, so Im not sure how that will play out with Ripple.

I wouldn’t hold my breath and I’m not too interested to see the banking system win, all I want is to see bitcoin succeed. But I keep Ripple in the top 5 because I can see them being disruptive to the banking industry in the future.

Current Market Cap: $276,170,587

Price: 0.008 US

Prediction: If Ripple can prove that they are the solution for the banking industry, their valuation could skyrocket. Until then, let’s watch on the side line.

I think that Bitcoin, Ethereum, Factom and Maidsafe all do something very different and they complete each other. No one could do what the other one can do. They are all necessary in their adoption rate is very fast. This is why those are my main bet for the 5 best crypto currencies of 2016. Ripple is a long shot but is worth following.

Crypto currency are one of the biggest opportunies for investor out there. Forget about gold or the stock market. Crypto are the revolution and if you don’t want to be left behind, you better get started.

If you want to buy Bitcoin, Coinbase is the exchange I personally use. You can buy Bitcoin and Ethereum and receive Bitcoin payment directly into your bank account.

Thank you. I really had no idea what these coins purpose was other than Bitcoin and Ripple. I'm going to diversify a bit into these other coins.

 

[CurtDawg]

I'm driving on the road now
I just took a look at Poloniex
Why are all these random coins pumping?
Seems like for no reason at all

What da hell is a Bytecoin? Noblecoin?
500% pump !!!
Cot damn
Did anyone make any money off these yet?

 

[Moving Target]

no man...im watching them pump as well. I just don't invest in anything I don't know about. unless someone here has the info or a link. I tried to get some bitcoin dark last night for a last gasp and lost money but not enough tp cry over. I'm still ahead by a little.

the problem I have is what to do with what bitcoin I got. I know I need to move it off poloniex to another place so I can get both bitcoins when they split. but
WHERE????

 

[CurtDawg]

With all these random pump & dumps going on
Its getting to the point, like we're in Vegas or something
Just throw a couple dollars down at the roulette wheel & hope you get lucky
Can't even do tech analysis, because these random pumps don't really follow any rules
Side note: Ya'll think Poloniex workers/owners are pumping these coins to bring in more business?
Because you know they are making a killin off these transaction fees
Hummm.....

Keep a close eye out for this same pattern guys
I don't know if/when it will happen again
Just something I noticed last week
Looks like the whales sometimes make 1 last pump at the end of the day on weekdays/business days
We might be able to make a couple hundred dollars real quick, if you time it right & get lucky on the correct coin


1. Between 5:30pm-6:00pm eastern time zone
Check the Poloniex trollbox to see what coin these idiots are hyping

2. Between 6:00pm-6:15pm eastern..... SHARP
The same coin they were hyping in the trollbox will start pumping a lot

3. Between 6:15pm-6:30pm eastern
Then the newbs will be like oh shit, oh shit, I need to buy this
That's usually when it hits its peak

4. Between 6:30pm-7:30pm eastern
It levels off, lots of up & down sideways action

5. Between 7:30pm-8:00pm eastern
The whales dump it & the price plummets


If this happens again, please post it here in BGOL
If we can guess the right coin, and buy some at 5:55pm-6:00pm, before the big pump, we can make a quick profit

But anyway, I'm going to try this pattern that I noticed yesterday & last week
I'll probably just put down like $50 & see what happens at 6:00pm

 

[CurtDawg]

Anyone paying attention to Poloniex ???
Anyone see a possible 1000% pump coming yet ???

 

[Mixd]

Anyone paying attention to Poloniex ???
Anyone see a possible 1000% pump coming yet ???

You talking XBC again?

 

[Dannyblueyes]

With all these random pump & dumps going on
Its getting to the point, like we're in Vegas or something
Just throw a couple dollars down at the roulette wheel & hope you get lucky
Can't even do tech analysis, because these random pumps don't really follow any rules
Side note: Ya'll think Poloniex workers/owners are pumping these coins to bring in more business?
Because you know they are making a killin off these transaction fees
Hummm.....

But anyway, I'm going to try this pattern that I noticed yesterday & last week
I'll probably just put down like $50 & see what happens at 6:00pm

http://www.coindesk.com/3-dead-cats-moon-bitcoin-market-dynamics-explained/

 

[CurtDawg]

You talking XBC again?

Nah not specifically XBC
I was just asking, any possible coins that might pump

Nothing happened today, like I thought it would though
Oh well

 

[Mixd]

Nah not specifically XBC
I was just asking, any possible coins that might pump

Nothing happened today, like I thought it would though
Oh well

Well this bullshit BCN jumped up to 800% I think was the high today, other than that, it's hard to say what's going to do what. But what I did notice is that it was frozen two days ago. Many coins when frozen like that on Polo have a jump from two others they did that with. So who knows.

 

[LSN]

damn I was looking @ bytecoin last nite too but automatically dismissed it bcuz the supply is like 183 billion even tho the buy-in is extremely low...it's up almost 500% ...completely blows my theory out the water that only coins in low supply can be pumped smh

 

[GAMETHEORY]

Now that this thread is stickied and is over 100 pages in 3 months, I think I need to start paying close attention.

Props to all the posters here for the healthy discussion. Ima throw a couple of bucks at this shit and see what it do.

Actually I wish someone could come and give us a bullet points as what it was, what it is, and why its relevant to BGOL and how much does one need to start buying

Anyone?

 

[Moving Target]

^^^me too. I have been all up and down them youtube streets and cryptocurrency side roads and haven't found a damn thing that makes sense to follow.

 

[An RnB Thug]

Actually I wish someone could come and give us a bullet points as what it was, what it is, and why its relevant to BGOL and how much does one need to start buying

Anyone?

There's 100 pages that answer your questions
Start from page 1 and read.

 

[LSN]

There's 100 pages that answer your questions
Start from page 1 and read.

or @ the very least will enable them to ask more specific questions rather than asking for someone to summarize a 100 page thread

 

[Confucius]

damn I was looking @ bytecoin last nite too but automatically dismissed it bcuz the supply is like 183 billion even tho the buy-in is extremely low...it's up almost 500% ...completely blows my theory out the water that only coins in low supply can be pumped smh

Yeah I remember reading your theory a few pages back. We see something new in the crypt world weekly. I have 1 btc free that I could have thrown at it. When it was up 115% I thought it was too late. I saw one coin up 1100% yesterday

 

[tonystarks1]

Looks like there is a little surge with XRP tonight. I would not be surprised if it hits .01 again by the time the morning arrives!

 

[CurtDawg]

I bought some (POT), Potcoin a couple days ago @ 1750
I figured with 420 a few weeks away, buying "potcoin" should be an easy play
Glad to see its already up 70% today , I needed that

 

[LegalMoney]

I know I've been advocating not to get attached to these coins but damn my portfolio is pumping by simply not doing anything and buying and holding my long term investments in ETC, XMR, STRAT.

I made a lil coin off the Bytecoin pump yesterday, bought $100 at 0.00000015 and sold at 20.

With all this Etherueum news of the Oil trading platform backed by ING DIRECT I think Etherueum will be at least $100 by years end. If so it's the value buy of the year, gotta keep stacking.

Anyone else having difficulty trading their long positions?

 

[CurtDawg]

I know I've been advocating not to get attached to these coins but damn my portfolio is pumping by simply not doing anything and buying and holding my long term investments in ETC, XMR, STRAT.

I made a lil coin off the Bytecoin pump yesterday, bought $100 at 0.00000015 and sold at 20.

With all this Etherueum news of the Oil trading platform backed by ING DIRECT I think Etherueum will be at least $100 by years end. If so it's the value buy of the year, gotta keep stacking.

Anyone else having difficulty trading their long positions?

Im taking a (somewhat) long position with Potcoin
Im going to hold for a couple weeks, leading up to 4/20
I bought $300 worth, and to be honest I should have bought more
If it dips back down below 2000, I'll probably grab some more

 

[FJP]

Can someone give me like a "for dummies" way on how to read these charts? Like .0009 does that mean like it's not even a penny? Or like I see numbers like .000115. And lastly where are all these coins bought? Can I get them all on poloniex? Or Coinbase or kraken. I'm reading like hell and I'm not finding r.

 

[Matt Beesy]

Ripple is about to go over a penny,

 

[Tha Great Muta]

Ripple is about to go over a penny,

Even if it does we need to buy that shit up bbefore it hits big

 

[Mack1052]

Can someone give me like a "for dummies" way on how to read these charts? Like .0009 does that mean like it's not even a penny? Or like I see numbers like .000115. And lastly where are all these coins bought? Can I get them all on poloniex? Or Coinbase or kraken. I'm reading like hell and I'm not finding r.

If your on Poloniex, switch to the USDT tab for the dollar amount.

I personally use Coinbase to acquire Bitcoin and use that Bitcoin to purchase other coins on Poloniex.

 

[JaRonin]

I just read about 40 pages of this thread last night and felt comfortable enough to start putting some money in and some of acronyms and basic shit y'all talking is starting to make perfect sense. SMH @ how many times ninjas are told to read the thread when there is VALUABLE info in it.

I decided to go the Coinbase -->Poloniex and Kraken (I reached tier 2 in less than 24 hours) method to purchase ripple. Not a baller like some of you cats so I got about $100 worth, but I will continue to invest in that as well as other sexy coins with future play money.

Next up for me is figuring out an offline ripple wallet solution that works well and doing some research on coin mining.

Props to LSN, LBOP, RnB, and any other positive contributors here. At most, you'll make me a millionaire. At the very least, you've opened my eyes to a new way to hustle.

 

[trstar]

Is there an offline Ripple wallet?

 

[CurtDawg]

Can someone give me like a "for dummies" way on how to read these charts? Like .0009 does that mean like it's not even a penny? Or like I see numbers like .000115. And lastly where are all these coins bought? Can I get them all on poloniex? Or Coinbase or kraken. I'm reading like hell and I'm not finding r.

Step 1: You have to setup a Coinbase.com account
Coinbase is KINDA like an online bank account
Then you have to transfer US dollars from your personal bank account or credit card, to your new Coinbase.com account
You "transfer" by buying bitcoin
When you go to your new coinbase account to buy bitcoin, it will ask you to charge your credit card, or bank/debit card, or bank account number
Or another way, if you don't feel comfortable giving personal info over the net, go to a "Bitcoin ATM Machine"
There, you can deposit US dollars to the ATM machine, then send it directly to your new coinbase online account
I think the max you can buy at first is $150 worth of Bitcoin

Step 2: Once you bought bitcoin on Coinbase....you have to setup a Poloniex.com account
Poloniex is the website you use to do the actual trading

Step 3: Then you have to transfer your Bitcoin from your Coinbase account, to your Poloniex account
There was a BGOL member @bustanutzz that gave detailed instructions on how to do this step on page #11 of this thread
After that, you are ready to trade, then come holla back at us for tips
Let us know if you have any more questions, Good luck fam

 

[LegalMoney]

Cryptocoin Investing FAQs (work in progress)

"I want to invest in Bitcoin / Ripple / Altcoins how do I get started?"

First its a great idea to create a separate email address for all of your cryptocoin investing. Make sure that it has a strong password and activate two-factor authentication (which you should use for everything!!)

The Coinbase <--- ---> Poloniex Method

You can buy Bitcoin and Etherueum directly with US dollars by opening an account with Coinbase.

You'll have to provide some identification to open up the buying limits.

Once you have your account set up if you just want to buy Bitcoin you can buy directly from Coinbase for a small fee.

Coinbase has Bitcoin and Etherueum wallets and as the largest digital currency wallet company you can reasonably expect that your coins will be securely stored and safe with Coinbase.

Sending Bitcoin to the Poloniex Exchange

Now if you want to buy altcoins or Ripple, you're going to have to trade for them on an Exchange.

Open an account at Poloniex (lovingly referred to as Polo) with an extremely strong password and two factor authentication.

Buy some Bitcoin on Coinbase. After you've made the purchase the idea is to send the Bitcoin to your Polo Bitcoin deposit address.

In Polo you'll find your Bitcoin address in the "Deposit and Withdrawals" section.

Look for "BTC" and click the "Deposit" link for your address.

In Coinbase, go to your BTC wallet and click "Send". It will request the deposit address of the recipient, which in this case will be your Polo BTC deposit address.

Carefully copy the Polo BTC deposit address to Coinbase. MAKE SURE THE ADDRESS IS CORRECT OTHERWISE YOUR BITCOIN WILL BE LOST AND YOU WONT GET IT BACK!!

When you are certain its correct send the Bitcoin from Coinbase to Polo. Bitcoin takes anywhere from 10 minutes to hours to confirm your transfer so don't panic your Bitcoin will not appear in Polo immediately. In Polo go to the"Deposits and Withdrawals" section and go to the "History" section. Within a few minutes your Bitcoin transfer will show as pending. Once its confirmed you'll have Bitcoin on Polo.

Now that your Polo account has Bitcoin, go to the "Exchange" section and make sure you are under the BTC Market tab.

From there you can see every coin that is traded against Bitcoin that is available on Polo.

To buy Ripple search for "XRP" under the BTC Market tab.

Polo will load the Ripple Exchange chart and at the bottom there is a BUY XRP section.

But before buying any coin using Bitcoin its imperative that you understand the Bitcoin basics:

Each Bitcoin is divisible to the 8th decimal place, so each Bitcoin can be split into 100,000,000 units.

Each Bitcoin unit, or 0.00000001 Bitcoin is called a Satoshi.

One Satoshi equals 0.00000001 Bitcoin.

When you are reading the BTC Market exchange charts they are listed in BTC not US Dollars.

For example the value of one XRP is trading at 0.00000952 BTCs or 952 Satoshi (Sats for short).

952 sats is ~ $0.01 / one penny.

Back to buying on Polo, under Buy XRP the current asking price is listed first, followed by the Amount of your buy and the final total BTC cost at the bottom.

Its best to leave the amount and total fields blank and let Polo calculate your order.

If you have 1 BTC in Polo and want to buy $100 worth of XRP, currently $100 USD = 0.096878 BTC or 9,687,800 sats.

Under amount put .096878 and it will calculate the amount of Ripple you will get at the highest current asking price.

When you are done click submit and if your trade goes through you'll see your new XRP listed in the Deposits and Withdrawals section under XRP.

 

[LegalMoney]

Another tip for those tired of the super slow Bitcoin confirmation time, you can just buy Etherueum from Coinbase and send to Polo just like BTC.

Ether is confirmed and transferred within minutes unlike Bitcoin.

You'll just have to sell your Ether for Bitcoin on Polo.

 

[Mack1052]

Also if your in NY and can't use Poloniex, there's another option in Bittrex.

 

[CurtDawg]

For all new guys just starting out
Here are the 4 things you need to do before trading

1) You need to know how to transfer a few dollars from your bank account or credit card to Coinbase, then to Poloniex
Most of us just use those 2 websites, we don't really use Kraken.com anymore
People who live in New York will have to use another website than Poloniex, because NY has it blocked

2) I know this thread is 100+ pages deep
But try to at least skim through most of it to get a decent understanding, and learn from our mistakes

3) This is not really necessary but, back on page #32 I posted a few documentaries to check out that will give you the HISTORY of Bitcoin
Again not necessary, but the 3 videos/documentaries will give you a good understanding of the GENERAL HISTORY of Bitcoin
I'll post the videos again in a few seconds...

4) Check out these 2 youtubers
Crypto Picasso (Bits to Freedom)
https://www.youtube.com/channel/UCHHtN4LNc34zswfKhvNgPLg/videos

BTC Kyle
https://www.youtube.com/user/kholzrpi

Watch their first/earlier how to trade videos
With BTCKYLE, skip over the computer videos, just watch the bitcoin stuff
Crypto Picasso has some good advice in his videos


Of course their are other youtubers & other news websites, etc
But those 4 things above should be the basics to get you started & have a good understanding of what we are doing
You can make a lot of money doing this, but you can also lose a lot of money
The more you read & watch vids, the better off you will be in the long run

 

[CurtDawg]

I know I posted this already a few days ago, a few pages back
But for those who want to fully understand the cryptocurrency or digital currency market, check out these 3 bitcoin documentaries
They explain a lot, & break everything down into simple terms
Just go to Netflix, Amazon prime or KODI & do a search for these 3 free documentaries

In this specific order:
Movie #1:
"Bitcoin the end of money as we know it"
(The first half gives you an overview of the history of the financial/banking sector. The second half gives you a general overview of the creation of bitcoin)