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Official BGOL Crypto Currency Thread ★★★★★

xxironxx

xxironxx

PhD in Trollin
BGOL Investor
praetor said:
Which parts don't you understand?
Click to expand...
None of it. I need like a crypto 4 dummies or something. From the floor up. What's the 1s to get these days. What method are you using to buy them. All that shit fam. I can usually pick up on the hustles the fam throwing out but this 1 got me lost
 
Pworld297

Pworld297

Rising Star
BGOL Investor
If I understood stocks and crypto years ago, I'd be preparing for retirement right now at the age of 50. I remember this thread being posted years ago but I never fucked with it. :smh:
 
RoomService

RoomService

Dinner is now being served.
BGOL Investor
xxironxx said:
None of it. I need like a crypto 4 dummies or something. From the floor up. What's the 1s to get these days. What method are you using to buy them. All that shit fam. I can usually pick up on the hustles the fam throwing out but this 1 got me lost
Click to expand...
Take a week and skim through this entire thread.
That is the first place to start if you truly want to learn.
 
xxironxx

xxironxx

PhD in Trollin
BGOL Investor
RoomService said:
Take a week and skim through this entire thread.
That is the first place to start if you truly want to learn.
Click to expand...
Lol I did/do that. I ain't the type to just be asking 4 assistance all willy nilly. I actually hate having to ask. But what's a good general page range to go back and start at cause I'm sure shit from page 1 is probably obsolete now
 
xxironxx

xxironxx

PhD in Trollin
BGOL Investor
Pworld297 said:
If I understood stocks and crypto years ago, I'd be preparing for retirement right now at the age of 50. I remember this thread being posted years ago but I never fucked with it. :smh:
Click to expand...
Let's get it fam. I missed that initial wave too. But the fact you looking round in this thread means you ready to get it now. And got damnit i am too.
 
D

DVS X

Rising Star
BGOL Investor
xxironxx said:
None of it. I need like a crypto 4 dummies or something. From the floor up. What's the 1s to get these days. What method are you using to buy them. All that shit fam. I can usually pick up on the hustles the fam throwing out but this 1 got me lost
Click to expand...

I dont really have a lot of time, but i scribbled this down to at least give you some type of guidance for the basics... because 700 pages is a lot to read, but its worth it. If someone told you that you could make a few hundred dollars quickly, then reading 700 pages is a small yet valuable task.

Sounds cliche, but start from page 1. Its a lot of reading but we all started out in the same position as you.. Its one of those things where youre much better off if you dabble at first. Here's why. If you listen to others about "buy this coin, buy that coin", youll do that, but you wont know when to get out. A lot of my coworkers wanted to buy XRP as it shot up to $3, because me and another guy were making huge money. They thought that it would go higher and just threw money at it without knowing shit about what they were doing... They are stuck with that shit because its never gotten remotely close to that price again. Closest its been has been like 75 cents, maybe. Now if youre one of those people, youd be like "what the fuck"? The part they didnt understand is that they shouldve had stop-loss(something youll find on the exchanges that sells a set amount of your stash on your behalf if the price drops to a certain price to prevent you from potentially losing everything) set so they could get out with less negative impact. But that was their own ignorance for not building their knowledge. We didnt even know they put money in because they never asked any questions. So we could tell you what coins to buy, but it would be up to you to know if its a good price to buy at and what its potentials are. Just like stocks, the buying opportunities are endless, but the knowledge to know what to do next falls squarely on you.

The reason this thread is gold is because you have the advantage of seeing what worked out for people and what didnt. Skim if you must, the gems are scattered everywhere. So even if its dated, there is still value. You can make a lot of money and you can lose a lot of money, so if you dont know what youre doing, then reading through the pages will expose why some people win and some people lose. If youre not willing to read through the thread, then youll always be at the mercy of sheeping your way though when others recognize warning signs and bull runs that you dont. After reading, you will have the knowledge to drill down into the questions you really want to ask and how to formulate the proper questions to get you to where you want to be. Here something to get you started.

1. Find an exchange to register with. You will probably become part of multiple exchanges over the next few months as they have different coins. My first was Kraken.com. They are financial institutions so they are going to ask you for some private info like social/drivers license/photo id/photo with specific instructions telling you to hold up a picture of yourself with a note in a very specific way. If youre not comfortable with that, there are now stock traders that you can buy bitcoin though. I wouldnt dwell too much on which exchange is better than another because for me its been irrelevant but you should know the basics of how to fund, buy, sell and transfer. Each exchange does it a different way. The only thing that really matter was which coins I was able to buy. A lot of people start with Coinbase. TURN ON 2 FACTOR AUTHENTICATION BECAUSE CRYPTO IS HACKER GOLD.

2. Understand how wallets work and how to transfer coins between them. Understand what an offline wallet is and how to use it. You will use these wallets for the storage and transfer of coins to a different exchange to buy different coins. You dont want to keep a majority of your stash on exchanges because it can get hacked. I keep enough to dump into a coin should an opportunity present itself... but most everything is on a hardware walle

3. Develop an understanding though reading the threads about what coins you should stock to hold onto for the long term. Understand what pump coins are and why you would want to use it for that reason only and not get stuck holding the bag. Also understand why you missed out on a raging bull market and should sit out until the next crash unless you understand setting stop-loss.. My long term holds have been(BTC, ETH, LTC, XRP, NEO, XMR, DOT ). The whole point is to make money off the alt coins so that you can have more money to put into Bitcoin(BTC)

4. Read crypto news/twitter. They give insight into what coins to be aware of because of the technology behind them and what their use cases are. If news breaks about the coin going into heavy use with another company or financial institution, thats a key to buy. If a creator sells off all of his coins like what happened with LTC, its probably a good time to collect and get out. Everyone has their own personal coins that they favor and that work for them, meaning that they understand what the price should be, whether its undervalued or inflated and how much it typically moves in a run. Sometimes you really can just tell.

5. Learn to read the charts. It lets you pick out patterns. Coinmarketcap.com is a popular way to get all the coins in one place. A few pages back, I talked about XDC and LTC being a few of my favorite coins to follow. XDC follows a pattern that Ive seen so many times before that I know where it usually tops out. So when it crashes, I know what its capable of going back to and can make a few quick bucks there. With LTC.. I know from experience that when other coins start moving a significant amount during a bullrun... LTC seems to lag behind the other before it starts raging. For me its get in and get out with those 2 coins. i usually dont let money sit for too long there because I know theyll come back down with the others.

This should be enough to get started but you have to do the work. Trading stocks/crypto for money has to be lived and experienced to be successful. Its a lot of work and a lot of learning. I hope you can see why its not something that someone else can do for you.
 
Last edited:
xxironxx

xxironxx

PhD in Trollin
BGOL Investor
DVS X said:
I dont really have a lot of time, but i scribbled this down to at least give you some type of guidance for the basics... because 700 pages is a lot to read, but its worth it. If someone told you that you could make a few hundred dollars quickly, then reading 700 pages is a small yet valuable task.

Sounds cliche, but start from page 1. Its a lot of reading but we all started out in the same position as you.. Its one of those things where youre much better off if you dabble at first. Here's why. If you listen to others about "buy this coin, buy that coin", youll do that, but you wont know when to get out. A lot of my coworkers wanted to buy XRP as it shot up to $3, because me and another guy were making huge money. They thought that it would go higher and just threw money at it without knowing shit about what they were doing... They are stuck with that shit because its never gotten remotely close to that price again. Closest its been has been like 75 cents, maybe. Now if youre one of those people, youd be like "what the fuck"? The part they didnt understand is that they shouldve had stop-loss(something youll find on the exchanges that sells a set amount of your stash on your behalf if the price drops to a certain price to prevent you from potentially losing everything) set so they could get out with less negative impact. But that was their own ignorance for not building their knowledge. We didnt even know they put money in because they never asked any questions. So we could tell you what coins to buy, but it would be up to you to know if its a good price to buy at and what its potentials are. Just like stocks, the buying opportunities are endless, but the knowledge to know what to do next falls squarely on you.

The reason this thread is gold is because you have the advantage of seeing what worked out for people and what didnt. Skim if you must, the gems are scattered everywhere. So even if its dated, there is still value. You can make a lot of money and you can lose a lot of money, so if you dont know what youre doing, then reading through the pages will expose why some people win and some people lose. If youre not willing to read through the thread, then youll always be at the mercy of sheeping your way though when others recognize warning signs and bull runs that you dont. After reading, you will have the knowledge to drill down into the questions you really want to ask and how to formulate the proper questions to get you to where you want to be. Here something to get you started.

1. Find an exchange to register with. You will probably become part of multiple exchanges over the next few months as they have different coins. My first was Kraken.com. They are financial institutions so they are going to ask you for some private info like social/drivers license/photo id/photo with specific instructions telling you to hold up a picture of yourself with a note in a very specific way. If youre not comfortable with that, there are now stock traders that you can buy bitcoin though. I wouldnt dwell too much on which exchange is better than another because for me its been irrelevant but you should know the basics of how to fund, buy, sell and transfer. Each exchange does it a different way. The only thing that really matter was which coins I was able to buy. A lot of people start with Coinbase. TURN ON 2 FACTOR AUTHENTICATION BECAUSE CRYPTO IS HACKER GOLD.

2. Understand how wallets work and how to transfer coins between them. Understand what an offline wallet is and how to use it. You will use these wallets for the storage and transfer of coins to a different exchange to buy different coins. You dont want to keep a majority of your stash on exchanges because it can get hacked. I keep enough to dump into a coin should an opportunity present itself... but most everything is on a hardware walle

3. Develop an understanding though reading the threads about what coins you should stock to hold onto for the long term. Understand what pump coins are and why you would want to use it for that reason only and not get stuck holding the bag. Also understand why you missed out on a raging bull market and should sit out until the next crash unless you understand setting stop-loss.. My long term holds have been(BTC, ETH, LTC, XRP, NEO, XMR, DOT ). The whole point is to make money off the alt coins so that you can have more money to put into Bitcoin(BTC)

4. Read crypto news/twitter. They give insight into what coins to be aware of because of the technology behind them and what their use cases are. If news breaks about the coin going into heavy use with another company or financial institution, thats a key to buy. If a creator sells off all of his coins like what happened with LTC, its probably a good time to collect and get out. Everyone has their own personal coins that they favor and that work for them, meaning that they understand what the price should be, whether its undervalued or inflated and how much it typically moves in a run. Sometimes you really can just tell.

5. Learn to read the charts. It lets you pick out patterns. Coinmarketcap.com is a popular way to get all the coins in one place. A few pages back, I talked about XDC and LTC being a few of my favorite coins to follow. XDC follows a pattern that Ive seen so many times before that I know where it usually tops out. So when it crashes, I know what its capable of going back to and can make a few quick bucks there. With LTC.. I know from experience that when other coins start moving a significant amount during a bullrun... LTC seems to lag behind the other before it starts raging. For me its get in and get out with those 2 coins. i usually dont let money sit for too long there because I know theyll come back down with the others.

This should be enough to get started but you have to do the work. Trading stocks/crypto for money has to be lived and experienced to be successful. Its a lot of work and a lot of learning. I hope you can see why its not something that someone else can do for you.
Click to expand...
Appreciate you fam
 
APOPHIS

APOPHIS

Autodidact / Polymath
Platinum Member
I wrote the guide below for an investment group that I run amongst my circle. I teach them about stocks and crypto.
The guide below is not complete, but it does help with your beginner journey. Use it as well as the other notes provided by the brotha @DVS X as your starting pint. It easier to follow than 700 pages of info.


Pworld297 said:
If I understood stocks and crypto years ago, I'd be preparing for retirement right now at the age of 50. I remember this thread being posted years ago but I never fucked with it. :smh:
Click to expand...


YOUTUBE CHANNELS:

Best “Daily Market Briefs” Channel - Lunch Money
https://www.youtube.com/c/AnthonyPompliano

Best “How To” Guide - Crypto Dad
https://www.youtube.com/channel/UC68x_TIzqCtF69fYl2_kl3w

Best Crypto News Channel - The Modern Investor
https://www.youtube.com/channel/UC-5HLi3buMzdxjdTdic3Aig

Best Research & Case Study - The Coin Bureau
https://www.youtube.com/channel/UCqK_GSMbpiV8spgD3ZGloSw

Best Chart Reading & Trading Analysis - Satoshi Stacker
https://www.youtube.com/channel/UCGDjpwZV-bU-sLSnhInCfKQ

Best Documentary Channel - PLOT 11
https://www.youtube.com/channel/UC316GY-U17BkwN8D7oKM0iw

Best Podcast Channel - Bankless
https://www.youtube.com/c/Bankless/featured

Best General Finance Education - White Board Finance
https://www.youtube.com/c/WhiteBoardFinance/featured

BEST NEWS WEBSITE(S):
https://decrypt.co/
https://cointelegraph.com/

BEST PRICE AGGREGATOR WEBSITES:
www.CoinGecko.com is a cryptocurrency ranking web site and data aggregator that provides 360 degree overview of the standing of digital currencies such as Bitcoin and cryptocurrency market, news, analysis, alerts, and real time prices by the world's leading cryptocurrency.

www.CoinMarketCap.com provides cryptocurrency prices, charts, and current market capitalization. CoinMarketCap has been the premier price-tracking website for cryptocurrencies. It is the most referenced and trusted source for comparing thousands of crypto entities in the rapidly growing cryptocurrency space by users, institutions, and media.


USER COMMUNITIES:
Bitcoin - https://www.reddit.com/r/Bitcoin
Ethereum - https://www.reddit.com/r/ethereum/

Almost every coin you invest in will have an online community someplace. When researching cryptocurrency coins, please use data aggregator websites such as CoinGecko. When on this website, be sure to click on the coin link itself and then scroll down until you see the “community” link somewhere at the top left of the page. These communities often are hosted on apps like Twitter, Discord, Telegram, and Reddit. Discord and Telegram are the two most popular currently.


PORTFOLIO ALLOCATION:

1. BTC should comprise 60-80% of your holdings
2. ETH may comprise 20-40%
3. Alt-coins may comprise 10-20%


CONDUCTING RESEARCH :
1. Do your own research (DYOR)
2. Read the project white paper
3. Determine use case
4. Is there a product market fit
5. Who are the founders/investors
6. Get on Github and see how many “commits” and activity there is on the project
7. What is the market cap to coins minted ratio - Less minted coins have higher growth rate (millions > billions)
8. How many coins were minted (created) and what percentage is pre-mined/institutionally owned by developers, executives, and investors (less is better). You don’t want them dumping the coins into the market which can enable downturns and sell-offs.
9. Look at charts and conduct technical analysis.


Click the video links below to learn how to conduct DYOR and technical analysis:
DYOR -
TA - Part 1:
TA - Part 2:


Beginner Action Steps:
  1. Please enable your CashApp Bitcoin feature asap
  2. Open up a Coinbase or Gemini account asap
  3. Consider starting your journey with $250-$5000 (invest $ you can lose)
  4. Read the book “The Bitcoin Standard” asap
  5. Listen, Learn, Like and Live this industry
  6. Have fun and make money
 
darth frosty

darth frosty

Dark Lord of the Sith
BGOL Investor
ErdpRflXcAwuXzO
 
Pworld297

Pworld297

Rising Star
BGOL Investor
APOPHIS said:
I wrote the guide below for an investment group that I run amongst my circle. I teach them about stocks and crypto.
The guide below is not complete, but it does help with your beginner journey. Use it as well as the other notes provided by the brotha @DVS X as your starting pint. It easier to follow than 700 pages of info.





YOUTUBE CHANNELS:

Best “Daily Market Briefs” Channel - Lunch Money
https://www.youtube.com/c/AnthonyPompliano

Best “How To” Guide - Crypto Dad
https://www.youtube.com/channel/UC68x_TIzqCtF69fYl2_kl3w

Best Crypto News Channel - The Modern Investor
https://www.youtube.com/channel/UC-5HLi3buMzdxjdTdic3Aig

Best Research & Case Study - The Coin Bureau
https://www.youtube.com/channel/UCqK_GSMbpiV8spgD3ZGloSw

Best Chart Reading & Trading Analysis - Satoshi Stacker
https://www.youtube.com/channel/UCGDjpwZV-bU-sLSnhInCfKQ

Best Documentary Channel - PLOT 11
https://www.youtube.com/channel/UC316GY-U17BkwN8D7oKM0iw

Best Podcast Channel - Bankless
https://www.youtube.com/c/Bankless/featured

Best General Finance Education - White Board Finance
https://www.youtube.com/c/WhiteBoardFinance/featured

BEST NEWS WEBSITE(S):
https://decrypt.co/
https://cointelegraph.com/

BEST PRICE AGGREGATOR WEBSITES:
www.CoinGecko.com is a cryptocurrency ranking web site and data aggregator that provides 360 degree overview of the standing of digital currencies such as Bitcoin and cryptocurrency market, news, analysis, alerts, and real time prices by the world's leading cryptocurrency.

www.CoinMarketCap.com provides cryptocurrency prices, charts, and current market capitalization. CoinMarketCap has been the premier price-tracking website for cryptocurrencies. It is the most referenced and trusted source for comparing thousands of crypto entities in the rapidly growing cryptocurrency space by users, institutions, and media.


USER COMMUNITIES:
Bitcoin - https://www.reddit.com/r/Bitcoin
Ethereum - https://www.reddit.com/r/ethereum/

Almost every coin you invest in will have an online community someplace. When researching cryptocurrency coins, please use data aggregator websites such as CoinGecko. When on this website, be sure to click on the coin link itself and then scroll down until you see the “community” link somewhere at the top left of the page. These communities often are hosted on apps like Twitter, Discord, Telegram, and Reddit. Discord and Telegram are the two most popular currently.


PORTFOLIO ALLOCATION:

1. BTC should comprise 60-80% of your holdings
2. ETH may comprise 20-40%
3. Alt-coins may comprise 10-20%


CONDUCTING RESEARCH :
1. Do your own research (DYOR)
2. Read the project white paper
3. Determine use case
4. Is there a product market fit
5. Who are the founders/investors
6. Get on Github and see how many “commits” and activity there is on the project
7. What is the market cap to coins minted ratio - Less minted coins have higher growth rate (millions > billions)
8. How many coins were minted (created) and what percentage is pre-mined/institutionally owned by developers, executives, and investors (less is better). You don’t want them dumping the coins into the market which can enable downturns and sell-offs.
9. Look at charts and conduct technical analysis.


Click the video links below to learn how to conduct DYOR and technical analysis:
DYOR -
TA - Part 1:
TA - Part 2:


Beginner Action Steps:
  1. Please enable your CashApp Bitcoin feature asap
  2. Open up a Coinbase or Gemini account asap
  3. Consider starting your journey with $250-$5000 (invest $ you can lose)
  4. Read the book “The Bitcoin Standard” asap
  5. Listen, Learn, Like and Live this industry
  6. Have fun and make money
Click to expand...

Thanks bruh! Appreciate it! :yes:
 
APOPHIS

APOPHIS

Autodidact / Polymath
Platinum Member
RoomService said:
“I don’t really take technology advice from someone who uses a flip phone or doesn’t use email.”
:frozen:
Click to expand...

And he's right.
Warren Buffet is a dinosaur who built the significant amount his fortune pre-2000s and has been living off of the compound interest since that time. What has he done in the last 10-15 years that was really notable but babble?
The same guy who shitted on gold is now investing in gold mining stocks.
 
RoomService

RoomService

Dinner is now being served.
BGOL Investor
Any using trade the chain?

www.tradethechain.com

Trade The Chain

Trade like a crypto insider. Our mission is to help the average investor trade like a pro by providing the same trading signals and data used by professionals. Learn more now.
www.tradethechain.com www.tradethechain.com
 
M

Mrfreddygoodbud

Rising Star
BGOL Investor
Mayne this some sad shit mayne.

listen mayne.. ALL FUCKIN WAYS keep

a backup of your password in a secret place only you know.

Lost Passwords Lock Millionaires Out of Their Bitcoin Fortunes
Bitcoin owners are getting rich because the cryptocurrency has soared. But what happens when you can’t tap that wealth because you forgot the password to your digital wallet?

or dudes throwing away old harddrives that forgot they were in on the bitcoin crazy early...

some literally threw aways hundreds of millions...

www.nytimes.com

Lost Passwords Lock Millionaires Out of Their Bitcoin Fortunes (Published 2021)

Bitcoin owners are getting rich because the cryptocurrency has soared. But what happens when you can’t tap that wealth because you forgot the password to your digital wallet?
www.nytimes.com www.nytimes.com
 
RoomService

RoomService

Dinner is now being served.
BGOL Investor
Mrfreddygoodbud said:
Mayne this some sad shit mayne.

listen mayne.. ALL FUCKIN WAYS keep

a backup of your password in a secret place only you know.

Lost Passwords Lock Millionaires Out of Their Bitcoin Fortunes
Bitcoin owners are getting rich because the cryptocurrency has soared. But what happens when you can’t tap that wealth because you forgot the password to your digital wallet?

or dudes throwing away old harddrives that forgot they were in on the bitcoin crazy early...

some literally threw aways hundreds of millions...

www.nytimes.com

Lost Passwords Lock Millionaires Out of Their Bitcoin Fortunes (Published 2021)

Bitcoin owners are getting rich because the cryptocurrency has soared. But what happens when you can’t tap that wealth because you forgot the password to your digital wallet?
www.nytimes.com www.nytimes.com
Click to expand...
that's why the price is so high... fewer bitcoins
 
xxxbishopxxx

xxxbishopxxx

Rising Star
BGOL Investor
G

guyver

Rising Star
Platinum Member
RoomService said:
I thought Ethereum was Infinite
Click to expand...

I believe ETH is still being mined so you are technically correct to my knowledge.
POW ETH doesn't have a cap. Because I haven't been following ETH 2 0 closely, I'm not sure if changes have or will be made for POS. The article is speaking to the current minted supply of ETH that is available on exchanges. Assuming there really is a real high demand for ETH like the article is saying, the price could go much higher.

The next question for me is, what is considered the next high valued asset? My second question of those assets which are safest for institutions to buy in high volumes? While I'm not interested in the BTC or ETH forks, they probably would be the best answer given they are close enough to BTC and ETH that they shouldn't be considered a security.

This is also making think it may be best to remove my little ETH to my ETH wallet. Worse case you'll have an ETH IOU fucking with exchanges lls.i don't have much but I don't want any potential issues.
 
TIMEISMONEY

TIMEISMONEY

Rising Star
BGOL Investor
Pworld297 said:
If I understood stocks and crypto years ago, I'd be preparing for retirement right now at the age of 50. I remember this thread being posted years ago but I never fucked with it. :smh:
Click to expand...
Stop fucking saying if, if, if and JUMP IN AND LEARN THE GAME. IT'S NEVER TOO LATE BRO. I can't stand when people say that!! The best time is always right now!!!! Don't keep saying this shit 5 years from now.
 
xxxbishopxxx

xxxbishopxxx

Rising Star
BGOL Investor
Pworld297 said:
If I understood stocks and crypto years ago, I'd be preparing for retirement right now at the age of 50. I remember this thread being posted years ago but I never fucked with it. :smh:
Click to expand...
Look at this way people were saying the same thing 5 years ago, saying only if. Only if I invested in Apple. Only if I invested in Google, etc. Jump in, start small. At least with stocks you can go by the old adage, invest in what you know. What are your interests? What industries have you worked in all your life? Study dollar cost averaging which is a useful starting point for both traditional stocks and crypto. Crypto is as easy as it ever has been to jump into now that traditional institutions such as PayPal is begging you to buy bitcoin through them. I believe with coinbase you can buy crypto with regular cash and bank accounts, something that was impossible 5 years ago.

Now before I get jumped on, I am talking to you as if you are trying to just make some money and are as okay as you can be about paying taxes on it. I know a lot of folks are into the hiding money part as they are into the profitability of it. As a beginner, I would suggest you take your lumps with the taxes up front, so you don't get burned later.

Good luck
 
mangobob79

mangobob79

Rising Star
BGOL Investor

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