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Bitcoin and Cryptocurrency Thread

LUClENLUClEN Absence makes the heart grow fonder of someone elsePosts: 20,557 ✭✭✭✭✭
Last week @konceptjones asked me about trying to flip 30 dollars worth of bitcoin into a few hundred, so I thought it would be good to get more people into trading bitcoin. It's unconventional, and I had a lot of doubts about it, but since starting in January I have made good money.

This is what I started with. Now this is what I have today.

The second photo is the important one for this first post. You can see that my current portfolio is actually made up of virtual currencies that are not bitcoin, even though the value is given at the top in bitcoin and US dollars. The trick to really making this money is trading your bitcoin for the other currencies, then trading back when bitcoin experiences price drops. Right now it's at an all time high, and is primed to reach $2,000.00 USD. If it hits there it seems likely that there will be retrace in that time. Right now a good chunk of my portfolio is made up of something called GNT (Golem Network Token). It's technically not a currency, but actually a token that users can exchange in order to access the Golem Network. The golem network is a super computer, made up of a network of computers, that users can use to help them perform demanding tasks. For example, doing computer generated graphics requires a lot of computer power and can take a long time. To make it faster, someone could use their GNT to access the network and do the work in much less time. Currently, the tech is still in Alpha, but if you have some bitcoin to spare I would suggest grabbing some now since the price is still quite low.

That's it for my first post. I'll do a second post later to cover how to sell your bitcoins, and another one on when to sell to get the most money.

Good luck trading
The rapper from linkin park would body the dudes in the xxxtentacion cypher
illedoutdasmooth1
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Replies

  • LUClENLUClEN Absence makes the heart grow fonder of someone else Posts: 20,557 ✭✭✭✭✭
    @konceptjones I hope you traded for that gnt fam. It's been popping all week. I made 200 bucks last night.

    18595261_639563989572158_8916474684876896271_o.jpg?efg=eyJpIjoidCJ9&oh=2c5e92d618639410d1644f3a77bf5a2b&oe=59B343E3
    The rapper from linkin park would body the dudes in the xxxtentacion cypher
    dwade206
  • LUClENLUClEN Absence makes the heart grow fonder of someone else Posts: 20,557 ✭✭✭✭✭
    Right now is a good time to buy XRP
    The rapper from linkin park would body the dudes in the xxxtentacion cypher
  • konceptjoneskonceptjones Old School Playa Posts: 13,115 ✭✭✭✭✭
    good shit, I've been meaning to get back to you on this.
    i'm not sure which entity leaves people more abused and lost; the Porn Industry or Bad Boy Records.
  • LUClENLUClEN Absence makes the heart grow fonder of someone else Posts: 20,557 ✭✭✭✭✭
    edited May 24
    Bitcoin Ballin

    0w366y70nf58.png
    The rapper from linkin park would body the dudes in the xxxtentacion cypher
  • LUClENLUClEN Absence makes the heart grow fonder of someone else Posts: 20,557 ✭✭✭✭✭
    Another coin, DCR, just started popping

    18700672_640831309445426_1798761301542237662_o.jpg?oh=a962588466dc0743554eb592654d889c&oe=59E9F298
    The rapper from linkin park would body the dudes in the xxxtentacion cypher
  • LUClENLUClEN Absence makes the heart grow fonder of someone else Posts: 20,557 ✭✭✭✭✭
    DCR just peaked and will retrace a bit, as it comes down it would be a good investment to exchange some Bitcoin
    The rapper from linkin park would body the dudes in the xxxtentacion cypher
  • konceptjoneskonceptjones Old School Playa Posts: 13,115 ✭✭✭✭✭
    edited June 3
    yo @LUClEN what's good to get started with? Like I said I have about $20 worth of btc.
    i'm not sure which entity leaves people more abused and lost; the Porn Industry or Bad Boy Records.
  • LUClENLUClEN Absence makes the heart grow fonder of someone else Posts: 20,557 ✭✭✭✭✭
    I think for long term, DCR is a good bet. It's a bit late now, it just came up a lot this week. You would have almost 40 bucks already if you had bought around the time of my post. But there is room for more growth so if you hold long term you could see double in the upcoming months.
    The rapper from linkin park would body the dudes in the xxxtentacion cypher
  • konceptjoneskonceptjones Old School Playa Posts: 13,115 ✭✭✭✭✭
    edited June 4
    word @LUClEN, so are you doing margin trading? and what's good to get in with right now?
    i'm not sure which entity leaves people more abused and lost; the Porn Industry or Bad Boy Records.
  • LUClENLUClEN Absence makes the heart grow fonder of someone else Posts: 20,557 ✭✭✭✭✭
    word @LUClEN, so are you doing margin trading? and what's good to get in with right now?

    I don't margin trade. The risk is bigger, especially when your account is small. I trade through the regular exchange. Buy coins with bitcoin and when the coin increases in value trade back to bitcoin.

    I think dcr is a good one long term. Ethereum will be good long term, too.

    Right now I'm not sure what will be good short term.
    The rapper from linkin park would body the dudes in the xxxtentacion cypher
  • konceptjoneskonceptjones Old School Playa Posts: 13,115 ✭✭✭✭✭
    Ok, I transferred a lil bit of btc to my Polinex account to test the waters out. The one cool thing about this over something like penny stocks or any other markets is that it's open and trading 7 days a week 24hrs a day as opposed to stock, currency, or commodities markets.
    i'm not sure which entity leaves people more abused and lost; the Porn Industry or Bad Boy Records.
  • konceptjoneskonceptjones Old School Playa Posts: 13,115 ✭✭✭✭✭
    edited June 4
    what do you think about Siacoin? Been reading on it and if I make it over to my storage unit I may pull my desktop out to start mining it.

    I just picked up Siacoin, Golem, and Dogecoin to see what I can make happen.
    i'm not sure which entity leaves people more abused and lost; the Porn Industry or Bad Boy Records.
  • LUClENLUClEN Absence makes the heart grow fonder of someone else Posts: 20,557 ✭✭✭✭✭
    If you can mine I strongly suggest doing it. Find a coin that trades at a decent value and will have a decent return on your mining time-investment. You will make so much more money.

    I think it's a bad time to buy Doge. It recently experienced big spikes in price following some new developments in the technology.

    Siacoin has seen good growth, I think you're good long term, as long as Bitcoin doesn't shit the bed again like it did last week (went from 2800 to 1800).
    The rapper from linkin park would body the dudes in the xxxtentacion cypher
  • konceptjoneskonceptjones Old School Playa Posts: 13,115 ✭✭✭✭✭
    edited June 4
    Doge looks like dropped off a few points over the last week or so. I figured catch some now then see if it goes back up. If it doesn't short term then I'll just let it ride out until it gets better then unload it.
    i'm not sure which entity leaves people more abused and lost; the Porn Industry or Bad Boy Records.
  • FosheezyFosheezy AKA Flying Wonders the Diamond Mind Posts: 3,181 ✭✭✭✭✭
    edited June 4
    I think I'm up for learning and playing a bit with this. Have no idea where to start though as I only heard bits about Bitcoin. Never imagined there was any earning potential worthy of the effort.

    @LUClEN , how much USD does it take to start using this? How much USD you started with?
  • mc317mc317 Chief Of Goddamn Station Dark Side of The MoonPosts: 5,542 ✭✭✭✭✭
    I fuck with coinbase.com
    Cold Sardines Cold Sardines fuck em and feed em Cold Sardines
    LUClENdwade206
  • LUClENLUClEN Absence makes the heart grow fonder of someone else Posts: 20,557 ✭✭✭✭✭
    Fosheezy wrote: »
    I think I'm up for learning and playing a bit with this. Have no idea where to start though as I only heard bits about Bitcoin. Never imagined there was any earning potential worthy of the effort.

    @LUClEN , how much USD does it take to start using this? How much USD you started with?

    I started with thirty dollars
    The rapper from linkin park would body the dudes in the xxxtentacion cypher
  • konceptjoneskonceptjones Old School Playa Posts: 13,115 ✭✭✭✭✭
    whooo...

    I fucked around and forgot about my shit for a few days and looked today.

    I'm taking a real beating on Siacoin. I got in at 400 for .00000606 and it's sittin at .00000489 right now. I saw it hit 624 the day after I bought it and shoulda sold it off then.

    Dogecoin I copped 1000 at .00000129, it's at .00000116 as I type this. About an hour after I bought it it was at 135, I prolly shoulda sold it off then.

    DigiByte dropped as well, but since I only have 3 of 'em I can sit tight until it recovers.

    I ain't sellin shit until I can at least break even.
    i'm not sure which entity leaves people more abused and lost; the Porn Industry or Bad Boy Records.
  • Qiv_OwanQiv_Owan Posts: 4,096 ✭✭✭✭✭
    So how much do u need to buy one bitcoin?
    tumblr_m5ems1iw2F1qi26lwo1_500.gif
    rs_640x360-160619194524-game_of_thrones-battle_of_the_bastards-6_55_33_pm_-_6_55_37_pm-2016-06-19.gif
    LUClEN
  • konceptjoneskonceptjones Old School Playa Posts: 13,115 ✭✭✭✭✭
    Qiv_Owan wrote: »
    So how much do u need to buy one bitcoin?

    as of right now $2618.51
    i'm not sure which entity leaves people more abused and lost; the Porn Industry or Bad Boy Records.
    LUClENtexas409
  • LUClENLUClEN Absence makes the heart grow fonder of someone else Posts: 20,557 ✭✭✭✭✭
    edited June 12
    When Bitcoin prices drop the other coins drop as well. I haf 4400 yesterday and have 3800 today. I used to panic a lot at times like this but I learned that things work out if you're patient
    The rapper from linkin park would body the dudes in the xxxtentacion cypher
  • illedoutilledout Posts: 8,194 ✭✭✭✭✭
  • konceptjoneskonceptjones Old School Playa Posts: 13,115 ✭✭✭✭✭
    LUClEN wrote: »
    When Bitcoin prices drop the other coins drop as well. I haf 4400 yesterday and have 3800 today. I used to panic a lot at times like this but I learned that things work out if you're patient

    so lemme guess, cats are basically trading coins like daytraders do stock where even the slightest movement up they're selling?
    i'm not sure which entity leaves people more abused and lost; the Porn Industry or Bad Boy Records.
  • Qiv_OwanQiv_Owan Posts: 4,096 ✭✭✭✭✭
    Qiv_Owan wrote: »
    So how much do u need to buy one bitcoin?

    as of right now $2618.51

    More proof I need to get my life together
    tumblr_m5ems1iw2F1qi26lwo1_500.gif
    rs_640x360-160619194524-game_of_thrones-battle_of_the_bastards-6_55_33_pm_-_6_55_37_pm-2016-06-19.gif
    silverfoxx
  • silverfoxxsilverfoxx Posts: 11,700 ✭✭✭✭✭
    When I get a job I'll come back to this thread and start one. Too broke right now to even start up and maintain
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