What You Really Want to Know About Cryptocurrency Trading for Beginners.

[SpeakeasyThai]

On 14/10/2017 at 7:14 PM, lucjoker said:

i gave all my money to Santa Claus ,he invested it in bitcoins......

He told me we gone be rich by Kristmas.........

 

In bitcoin world there are 2 types of people ,

The crooks and the smart guys ........guess witch type wins and witch  type looses ??????

Which.... a witch is your wife or girlfriend.

[lucjoker]

15 hours ago, SpeakeasyThai said:

Which.... a witch is your wife or girlfriend.

Do i have to say sorry to someone who speaks not 5 languages but only one ?

I would be ashamed to tell someone i only speak 1 language , but i learned something ,

what did you learn ?

[Thaijack2014]

18 hours ago, SpeakeasyThai said:

'So far'.... take your profit.

Nobody ever went broke making a profit.

We agree! Nobody can forsee the future... :)

[Janner1]

On 18/10/2017 at 7:55 PM, SpeakeasyThai said:

'So far'.... take your profit.

Nobody ever went broke making a profit.

What is it with you SpeakeasyThai?

you have bad mouthed almost everybody in this post who have invested in Bitcoin, yet failed entirely to note that those same people have taken out the initial investment and are now running solely on the profit they have made.

 

where then is the loss?

Instead of bad mouthing why not try to read the words they write, all you have achieved in your comments is an impression of an all consuming envy. 

 

These people have have taken the risk with a small amount of thier own money non of which is yours.

 

so let them get on with it, they have taken a calculated risk, ( one that you do not have the balls to do ) and they know it is a win win, or lose lose situation, and for the moment they are winning.

 

It is their own money to do with as they please and IF they eventually lose, it has nothing to do with YOU.

 

So leave them alone to do as they wish, and just remember the words you wrote in your last reply and with which you shot yourself in that great big foot of yours  NOBODY EVER WENT BROKE MAKING A PROFIT

 

Oh and I suppose it is now my time to be bad mouthed.

[SpeakeasyThai]

On 19/10/2017 at 11:23 AM, lucjoker said:

Do i have to say sorry to someone who speaks not 5 languages but only one ?

I would be ashamed to tell someone i only speak 1 language , but i learned something ,

what did you learn ?

Nonsensical post. You must be drunk or on drugs. Good luck.

[SpeakeasyThai]

On 17/10/2017 at 9:15 PM, phycokiller said:

why dont you just tell us how much you have lost so far?

In answer to your question...I'm not invested in Bitcoin and have not lost anything.

Edited October 23, 2017 by SpeakeasyThai

[phycokiller]

8 minutes ago, SpeakeasyThai said:

In answer to your question...I'm not invested in Bitcoin and have not lost anything.

fine, I made another 5% in the time it took you to answer. bitcoin is continuing to crash, upwards

[Thaijack2014]

8 hours ago, Janner1 said:

What is it with you SpeakeasyThai?

you have bad mouthed almost everybody in this post who have invested in Bitcoin, yet failed entirely to note that those same people have taken out the initial investment and are now running solely on the profit they have made.

 

where then is the loss?

Instead of bad mouthing why not try to read the words they write, all you have achieved in your comments is an impression of an all consuming envy. 

 

These people have have taken the risk with a small amount of thier own money non of which is yours.

 

so let them get on with it, they have taken a calculated risk, ( one that you do not have the balls to do ) and they know it is a win win, or lose lose situation, and for the moment they are winning.

 

It is their own money to do with as they please and IF they eventually lose, it has nothing to do with YOU.

 

So leave them alone to do as they wish, and just remember the words you wrote in your last reply and with which you shot yourself in that great big foot of yours  NOBODY EVER WENT BROKE MAKING A PROFIT

 

Oh and I suppose it is now my time to be bad mouthed.

Didn't really notice he was doing that with EVERYBODY. Because of this article I wrote a little something on the Dutch blog I read from time to time. The first responses were of course Negative. And mostly from people who never really looked into cryptocurrency themselves. I spend every day nearly two or three hours over the different investment programs which all use Bitcoin and relatives... it is very interesting and NONE of the experts, who are in my eyes intelligent people, have any doubt about the crypto currencies.

I only have problems with the many ICO's and I'm not really against the thing China did. Because of the popularity of the Bitcoin a lot of companies spring like mushrooms with their own inventions, which they call tokens, alt.coin and claim to use blockchain technology. They specify that they already pre-mined all the coins they can get. I can't believe in any of those companies, which are often ponzi's.

Bitcoin however and the true alt.coins (except the one from bitconnect) have value, because the users give value to them. Not a company. If a company does that, be very careful, they can go faster than that they came.

Bitcoin is not made by a company and many people (me too) actually are mining Bitcoin with a handsome reward.

 

Besides this I'm getting EVERY DAY around 60 Euro worth of Bitcoin that I can convert into Thai Baht, from a company where I invested around one fifth of the amount from which I get now the payout. That's where I put my bitcoin. Not resting in a wallet. It is like a bank used to be, but much better.

Edited October 23, 2017 by Thaijack2014

[lucjoker]

On 10/23/2017 at 3:10 PM, SpeakeasyThai said:

Nonsensical post. You must be drunk or on drugs. Good luck.

learn to read ,moron.

 

[lucjoker]

On 10/23/2017 at 3:25 PM, phycokiller said:

fine, I made another 5% in the time it took you to answer. bitcoin is continuing to crash, upwards

liar

[lucjoker]

Bitcoin : every body is a winner ????lol where did i hear this before ????

[phycokiller]

5 hours ago, lucjoker said:

liar

true, made and lost

[fishbrando]

My suggestion is, at this stage, to only invest in cryptocurrency if you understand how it works and believe in it. 

 

First rule of cryptocurrency: if you don't control the private keys then it's not yours.  The Mt. Gox users learned this lesson quickly.

 

I'd also suggest that you understand how it works before discouraging others from using it.  Any fool can yell "PONZI SCHEME" or "TULIPS".  Back up your argument with facts and reason.

[fishbrando]

Also I wouldn't necessarily use the fact that Bitcoin is rising in price as a proof that you are correct.  

 

Bitcoin went through a long bear market before rising to its current price.  It could easily happen again.

[janhkt]

On 14 October 2017 at 3:33 PM, wombat said:

the one thing no one talks about is the increase in your electricity bill after you start running mining rigs.

 

everything costs.....just saying.

Trading is not mining. And on the contrary, EVERYBODY is talking about the costs of mining. After all, it partly determines your mining profits.

Edited October 27, 2017 by janhkt

[Farangdanny]

Interesting. This is the first time I have seen a Bitcoin  thread with more positive than negative posts. Good start. The guy who 'alerted' us to the high cost of electric, should be on a different thread. No mining necessary to trade BTC.  Maybe for unsure beginners, a managed 'Fund' is a good place to start.

[csabo]

I saw a video (can't find link now) that made enough sense to me to throw a few grand at BC. It compared BC to the emergence of the first credit card in 1950. The Diners Club card had a handful of retailers but the need was there and it grew exponentially. I see the need for an alternative to credit cards due to the billions upon billions in fraud alone. Below is a snipit from the Diners Wiki page that supports the video. Should I find the link I will post it but the bottom line was that if the market demands a product, in any area, there is a period of concept, development, initial investment, acceptance and education which is followed by explosive distribution eventual topping and slowing of returns. Think about how cell phones started and grew. Do you wish you could go back to the early days of that? I do. Anyway $2k today to me is not worth much. I have other investments that I am counting on. But if this $2k turns into $10k in a year or two then so be it. 

 

When the card was first introduced, Diners Club listed 27 participating restaurants, and 200 of the founders's friends and acquaintances used it.^[15]

Diners Club had 20,000 members by the end of 1950^[16] and 42,000 by the end of 1951.^[17]At the time, the company was charging participating establishments seven percent and billed cardholders $5 a year.^[18] In 1952, McNamara sold his interest in Diners Club to his partners for $200,000.^[19]

The first plastic Diners Club card was introduced in 1961;^[20] by the mid-1960s, Diners Club had 1.3 million cardholders. 

[whaleboneman]

On 10/15/2017 at 2:20 PM, phycokiller said:

happily retired with all my savings in bitcoin, wouldnt be retired if not for bitcoin. each to their own I guess

 

I would be seriously worried with all of my savings invested in any one instrument. I know people who lost everything with Enron and basically had to forget about retiring. I urge you to start diversifying as soon as possible. 

I believe that crypto and the blockchain is the future-just not sure if it will include Bitcoin, Ether or something else. 

[phycokiller]

20 hours ago, whaleboneman said:

I would be seriously worried with all of my savings invested in any one instrument. I know people who lost everything with Enron and basically had to forget about retiring. I urge you to start diversifying as soon as possible. 

I believe that crypto and the blockchain is the future-just not sure if it will include Bitcoin, Ether or something else. 

good advice, and bitcoin may not survive in the long run, but its extremely unlikely to disappear overnight. I keep an eye on it and will move out if need be, but in the meantime it looks fine.

[Thaijack2014]

If you are concerned about bitcoin or cryptocurrency in general, listen to what this guy has to say. I follow him on YouTube. I think he is the most outspoken authority on cryptocurrency at this moment: The Future of Cryptocurrencies I Andreas M Antonopoulos, here's the link as well:

 

Edited October 28, 2017 by Thaijack2014
misspelled words and removal of one sentence

[Thaijack2014]

On 27-10-2017 at 4:00 PM, csabo said:

I saw a video (can't find link now) that made enough sense to me to throw a few grand at BC. It compared BC to the emergence of the first credit card in 1950. The Diners Club card had a handful of retailers but the need was there and it grew exponentially. I see the need for an alternative to credit cards due to the billions upon billions in fraud alone. Below is a snipit from the Diners Wiki page that supports the video. Should I find the link I will post it but the bottom line was that if the market demands a product, in any area, there is a period of concept, development, initial investment, acceptance and education which is followed by explosive distribution eventual topping and slowing of returns. Think about how cell phones started and grew. Do you wish you could go back to the early days of that? I do. Anyway $2k today to me is not worth much. I have other investments that I am counting on. But if this $2k turns into $10k in a year or two then so be it. 

 

When the card was first introduced, Diners Club listed 27 participating restaurants, and 200 of the founders's friends and acquaintances used it.^[15]

Diners Club had 20,000 members by the end of 1950^[16] and 42,000 by the end of 1951.^[17]At the time, the company was charging participating establishments seven percent and billed cardholders $5 a year.^[18] In 1952, McNamara sold his interest in Diners Club to his partners for $200,000.^[19]

The first plastic Diners Club card was introduced in 1961;^[20] by the mid-1960s, Diners Club had 1.3 million cardholders. 

I think I read it in the biography of Elan Musk, the true founder of Paypall, Tesla, Space X and so forth... 

[Thaijack2014]

By the way, here's another very interesting interview with Andreas M Antonopoulos. He talks about the way banks operate, about his mom using bitcoin, when Greece locked bankaccounts and took people's money to pay back its debts to the Deutsche Bank... one example how governments abuse their power over the banking system in a country. This can't happen to Bitcoin...

 

[Thaijack2014]

On 27-10-2017 at 3:33 PM, Farangdanny said:

Interesting. This is the first time I have seen a Bitcoin  thread with more positive than negative posts. Good start. The guy who 'alerted' us to the high cost of electric, should be on a different thread. No mining necessary to trade BTC.  Maybe for unsure beginners, a managed 'Fund' is a good place to start.

Well, I'm a customer from USI TECH, I don't know if you've heard from this company. You buy Bitcoin packets which at the time of buying are worth 50 Euro. You pay in Bitcoin. The return on every working day is around 1% of each packet you buy. What they do is arbitrage trading and mining. Together with the payback of your initial investment, they pay you up to 140% back (40% profit).

Last week they had their 1 year aniversary and held a big event in London Heathrow where major changes have been announced. One of the reasons I write this has to do with the high cost of electric. USI TECH works together with a company and they found a solution to reduce the cost of electricity up to 90%. Though I think it would be great, I'm reluctant to accept it until I see it working. Because this would be the goose with golden eggs. Saving up to 90% to mine Bitcoins or any other coin would be a major breakthrough. Not only that, many other energy eating devices could be powered by that equipment that works on the basis of magnets.

There are two outcomes: if it is true, we would be able to earn a lot more than nowadays with mining, as electric costs could be cut if companies will use their technology. But if its false, the company  would loose face and probably a lot of customers..

But let it be true. USI TECH can start selling this technology to any other mining company in this world. Everybody who's mining should profit from this.

[theguyfromanotherforum]

On 10/14/2017 at 11:42 PM, ozterix said:

your comment is too easy, too simplistic... and not smart at all...

 

if you had bought a bit coin for 100 USD a year ago, today you could sell it for 5700 USD... there is no crook, no smart because nobody could have predicted such a high increase... just luck and some low risk (Understand that 100% of the lottery winners had purchased a ticket...)

 

There is no get rich quick scheme in this, carefully investing what you can afford to lose... but seriously, how would you feel if you had invested 1000 USD 18 months ago and it would be today 56,000 USD.

 

When you consider bitcoin and alt coins, you need to compare with normal currency. What are the differences?

 

normal money

(also called FIAT currency - from the latin expression: be as this, in other words valued defined by a superior authority, a government)

1. is printed by the government, you have no idea how many they have produced.
2. can be printed and again, resulting in massive inflation that we are all suffering from
3. can be copied and printed illegally by scam artists / experts... and you have fake money
4. can be stolen from your pocket, wallet, bank account, home safe, CC on internet, etc...
5. you can sell something and get a bounced cheque, or a fake CC, etc...
6. can be easily destroyed in fire, floods etc...
7. is bulky to transport when you have a lot
8. is very costly to transfer across countries - try sending 100 USD to a friend overseas and see how much you lose...
9. can take serious amount of time to be transferred across borders and multiple banks - try sending USD to Myanmar from KB in Bangkok...

 

by opposition, Crypto currency is

1. is defined by an arithmetic equation
2. is finite in quantity, it is mathematically impossible to produce more, so can not suffer inflation
3. can not be imitated nor copied, the technology and arithmetic makes it unique
4. can not be stolen from your electronic wallet, if you apply decent protection, available today 
5. transactions with crypto coins can not be repudiated, a transaction is final, can not be reversed
6. is by virtue indestructible
7. you can carry an unlimited amount in your electronic wallet that is stored on your phone, with a copy in your safe at home and on the phone of your wife and in paper format in another safe place, multiple garanties that you can not lose it.
8. cost about nothing to transfer on the other side of the world
9. transfer is just about immediate (5 to 30 min max) to get the final confirmation

So, based on this, do you really believe FIAT currency has more survival potential than crypto? I don't, and many also think the same way. I attended a presentation by Mr. Korn, our previous finance Minister who said he had less faith in the survival of the FIAT currency than in Crypto. Read this article

 

Yes government will try to block it, but they have no way of doing it, unless they stop ALL internet connection, which would mean a total paralysis of the Markets, trading, banking, etc... A total impossibility. They can as China does, make ICO illegal and stopping exchange, but all Chinese can still trade on overseas exchanges using internet and a VPN.

 

Can it be used for criminal activity? Sure, and it has been but USD still remains the preferred currency of criminals, crypto as it is today is NOT anonymous, all transactions are on public general ledgers and as such are open to scrutiny. It is not traceable as simply as a cheque in a bank, but it is NOT anonymous. And you know today that LOTS of money is transferred to fake bank accounts, cashed and gone before anyone has had time to realize.

 

Is it risky? sure is, this is why you should not invest more than you can afford to lose, but if you gain as it has happened in the past consecutively for 10 years, you can make big money...

 

Are these guys the best suitable people to teach you? Don't know, and I doubt very much they have strong knowledge in computer security to be able to teach people to trade and store safely, but there is lots of places you can learn for free, in meetups on Crypto, in seminars organized by security firms, or lawyers like DFDL who will run a crypto seminar each quarter, use google...

 

Don't close your eyes on something that will change the world or you are going to miss big time...

 

OZ

 

 

 

 

 

Crypto is not finite, what nonsense.

 

Anyone can create a crypto. There's even a fck crypto.

 

What about "forks"?

 

Stick a fork in it I say. This is a scam of epic proportions. 

[Thaijack2014]

2 hours ago, theguyfromanotherforum said:

Crypto is not finite, what nonsense.

 

Anyone can create a crypto. There's even a fck crypto.

 

What about "forks"?

 

Stick a fork in it I say. This is a scam of epic proportions.

You seem not to understand what you talk about. Nobody says CRYPTO is not finite. And what you say: anyone can create crypto. True! But you miss the point. There are some, a handfull crypto-currencies that actually have value, because there is a product behind it. That's what counts. Bitcoin has a product (the Blockchain with its possibilities - like smart contracts etc. etc.). BITCOIN is finite. A fork splits another coin off from the original. It doesn't matter. The last one, Bitcoin Gold lost from the beginning its value and who knows if it will come back. BITCOIN however reached another ultimate high. From BITCOIN there will be only 21 Million and the last one to be mined in the year 2140. If ever, because it will be so difficult and expensive to mine it, it might take years to get that last one.

For that reason and because people are NOT only speculating, but actually find a good use for Bitcoin, the value of the BITCOIN is rising. 

ALL OF THE OTHER ALTCOINS don't matter and don't have any effect on Bitcoin, other then that people are starting to be aware of the importance and value of the Internet of Money.

For me it was like that. Someone tried to bring me into one of these ICO's who created their own coins and he promised imens rise in value. That's when I started to learn about the BITCOIN  and ever since I'm using it and I rejected the bullshit he was trying to sell (Onecoin). This was in the beginning of this year.

 

BITCOIN is no bullshit, it is no scam. It will stay and be part of many lives, if you like it or not.

Edited November 1, 2017 by Thaijack2014

[theguyfromanotherforum]

Just now, Thaijack2014 said:

You seem not to understand what you talk about. Nobody says CRYPTO is not finite. And what you say: anyone can create crypto. True! But you miss the point. There are some, a handfull crypto-currencies that actually have value, because there is a product behind it. That's what counts. Bitcoin has a product (the Blockchain with its possibilities - like smart contracts etc. etc.). BITCOIN is finite. A fork splits another coin off from the original. It doesn't matter. The last one, Bitcoin Gold lost from the beginning its value and who knows if it will come back. BITCOIN however reached another ultimate high. From BITCOIN there will be only 21 Million and the last one to be mined in the year 2140. If ever, because it will be so difficult and expensive to mine it, it might take years to get that last one.

For that reason and because people are NOT only speculating, but actually find a good use for Bitcoin, the value of the BITCOIN is rising. 

ALL OF THE OTHER ALTCOINS don't matter and don't have any effect on Bitcoin, other then that people are starting to be aware of the importance and value of the Internet of Money.

For me it was like that. Someone tried to bring me into one of these ICO's who created their own coins and he promised imens rise in value. That's when I started to learn about the BITCOIN  and ever since I'm using it. This was in the beginning of this year.

 

BITCOIN is no bullshit, it is no scam. It will stay and be part of many lives, if you like it or not.

 

That's right. I don't know what I am talking about and that is why I will never invest in this scam. I only say it is a scam because of the price movements that typically smell of scam. I am not saying bitcoin itself is a scam. Certainly blockchain is not a scam although future especually Quantum Computing will tell if it's really safe  as many like to point this out. 

 

Mind you, I am perfectly fine "missing the boat" even if it goes to 1 million. This is about me being able to sleep at night.

 

I also don't understand your logic. You say bitcoin in finite, but you say it's about blockchain. Anyone can create a blockchain coin. Who says Satoshi can't create another Bitcoin called Bitcoin 2.0? There's your devaluation.

 

As of now the product is thin air. I challenge you to go to immigration and show them 4 bitcoins as your retirement extension. 

 

 

 

 

 

 

 

 

 

 

 

[Thaijack2014]

2 hours ago, theguyfromanotherforum said:

I also don't understand your logic. You say bitcoin in finite, but you say it's about blockchain. Anyone can create a blockchain coin. Who says Satoshi can't create another Bitcoin called Bitcoin 2.0? There's your devaluation.

 

As of now the product is thin air. I challenge you to go to immigration and show them 4 bitcoins as your retirement extension. 

Once again you don't understand the difference. Even if there is a Bitcoin 2.0, and are milllions of coins created, it is not BITCOIN. Bitcoin is not a collection off all coins, some of the coins came from Bitcoin, the offspring so to speak. It doesn't change the Bitcoin in the slightest. The amount of BITCOIN is fixed. Next to it you can create another million different coins, it still doesn't influence the Bitcoin. Anything beside the bitcoin is called alt.coin. They lead their own life.

About immigration: as much as you can't extend your visa with Japanese Yen, so can't I do it with Bitcoin. Converting Bitcoin online into Baht is way easier. But also: the online business I mentioned.... I can't do that with Thai Baht, nor with Japanese Yen or most currencies. I do it with Bitcoin. The laptop I'm using to type this answer is bought from the profit I made from Bitcoin in my wallet. 

 

[theguyfromanotherforum]

5 minutes ago, Thaijack2014 said:

Once again you don't understand the difference. Even if there is a Bitcoin 2.0, and are milllions of coins created, it is not BITCOIN. Bitcoin is not a collection off all coins, some of the coins came from Bitcoin, the offspring so to speak. It doesn't change the Bitcoin in the slightest. The amount of BITCOIN is fixed. Next to it you can create another million different coins, it still doesn't influence the Bitcoin. Anything beside the bitcoin is called alt.coin. They lead their own life.

About immigration: as much as you can't extend your visa with Japanese Yen, so can't I do it with Bitcoin. Converting Bitcoin online into Baht is way easier. But also: the online business I mentioned.... I can't do that with Thai Baht, nor with Japanese Yen or most currencies. I do it with Bitcoin. The laptop I'm using to type this answer is bought from the profit I made from Bitcoin in my wallet. 

 

 

All this stress from bitcoins price swings and you only have a laptop to show for?

 

If you are so confident in bitcoin, invest your life savings. Considering that everyone is saying it's going to 100k, there's no risk. After all, you would be investing the worthless fiat currency, so you really have nothing to lose.

 

Oh, yes.... interesting how bitcoin enthusiasts love US dollars.

 

 

 

 

 

 

 

 

[Thaijack2014]

2 hours ago, theguyfromanotherforum said:

 

All this stress from bitcoins price swings and you only have a laptop to show for?

 

If you are so confident in bitcoin, invest your life savings. Considering that everyone is saying it's going to 100k, there's no risk. After all, you would be investing the worthless fiat currency, so you really have nothing to lose.

 

Oh, yes.... interesting how bitcoin enthusiasts love US dollars.

 

 

 

 

 

 

 

 

Hey, I'm a normal person and I'm not earning millions with it. Just a normal income. Why should I be so stupid as to put all my money on one card? I never put money in one bank, I don't earn money from one company and I'm certainly not put money in one currency, virtual or fiat...  This is another example of you not knowing anything about how to deal with money. Why are you talking in the first place about this? Seems that you would be the one predestined to lose everything, because you are the kind of person to bet everything on one horse.

I started in the beginning of this year with virtually nothing. Slowly but steadily I'm managing to increase not only my knowledge, but also my income. My goal is 3 years. Let's talk then. Meanwhile, let me be happy with what I achieve. My swimmingpool is already planned for next year and other major plans. Meanwhile I'm not throwing away the earnings I have with bitcoin, but building. Maybe you have the millions to throw away, I don't. And believe me, for me working with Bitcoin is a life saver. Not a destructor.

In any investment you should NEVER invest what you are not willing or able to lose. So if you think I'm that stupid, once more you are wrong.

[theguyfromanotherforum]

35 minutes ago, Thaijack2014 said:

Hey, I'm a normal person and I'm not earning millions with it. Just a normal income. Why should I be so stupid as to put all my money on one card? I never put money in one bank, I don't earn money from one company and I'm certainly not put money in one currency, virtual or fiat...  This is another example of you not knowing anything about how to deal with money. Why are you talking in the first place about this? Seems that you would be the one predestined to lose everything, because you are the kind of person to bet everything on one horse.

I started in the beginning of this year with virtually nothing. Slowly but steadily I'm managing to increase not only my knowledge, but also my income. My goal is 3 years. Let's talk then. Meanwhile, let me be happy with what I achieve. My swimmingpool is already planned for next year and other major plans. Meanwhile I'm not throwing away the earnings I have with bitcoin, but building. Maybe you have the millions to throw away, I don't. And believe me, for me working with Bitcoin is a life saver. Not a destructor.

In any investment you should NEVER invest what you are not willing or able to lose. So if you think I'm that stupid, once more you are wrong.

 

I don't think you are stupid.