Project: Bitcoin -- Status: Bitcoin; NEM; Nexus; Safe Exchange; Stratis; Status; Syscoin

OP, the standard models you present are totally irrelevant to the problem at hand.

Wish you good luck!

OP, the standard models you present are totally irrelevant to the problem at hand.

Wish you good luck!

The powers-that-be could have taken Bitcoin and its cousins down anytime they wanted to. Don't think cryptocurrencies are safe from them.

The fact that they allow it, and haven't even tried to artificially supress it, indicates to me that cryptocurrencies somehow fit into their plan to fleece us.

Also, don't be so sure that the internet will always be there at all or in it's current form.

Who the hell are you?
OP is performing a financial science experiment for everyone to see.
Nobody asked you to be the referee.

I am of of the many who didn't buy Bitcoins despite becoming aware of them pretty early on, but I am looking to get more knowledgeable and get in, because I still see a huge upside potential.

I will allocate 10K to cryptocurrency, and will do so publicly, for everyone to follow along (or build upon).

It will be a win, or an epic and public failure.

I am doing this for a couple of reasons:
• A rising tide lifts all boats.
• Share research and progress with anyone interested in Bitcoin and how to get started.
• Possible GLP collaboration. (share knowledge/best practices)
• Your entertainment. (if I fail)


----------------------------------------


This post will be updated continuously as research progresses, my investments, etc.

Ongoing Research

First and foremost...

Profit potential:

A few of the reasons why I didn't buy Bitcoin yet is because it is uncharted territory and it is hard to tell where this can go. There was hardly any technical or fundamental analysis you could apply, and when I tried it a long time ago, it was not user friendly at all, and still isn't actually.

It is still difficult telling where this will go, but I believe that this technology will become mainstream when it becomes more user friendly. The underlying benefits of Bitcoin are clear to us on GLP (and criminals), but in the end, whether people will adopt it will boil down to convenience (and regulation).

Below a chart on technology becoming mainstream and fully adopted. What this tells me, is that despite the price of Bitcoin today, there is still a huge upside potential.

:scurve:

I am looking to step in after a retraction and I will expand on strategy more later on, but I've put together a basic table which allowed me to play with a few variables and plot scenarios. Below a screenshot of an easy to read configuration:

This scenario takes into account a few premises:
• The investment is not counted as profit.
• The first 10K is considered break even.
• No compounding
• It's a long term play.

Stating the obvious: Buying more coins will increase your profit before Bitcoin runs out of steam.

:pbroi:


As I am in the process of getting knowledgeable, I have currently collected the following:

Security

Online/Hot Wallet:
blockchain.info
The risk with online wallets is that you are not the only user of your private key. They can freeze you out of your own funds. Use them for small stuff but not for large investments.

Offline/Cold Wallet:
A USB stick with MultiBit and Bitlocker
Zipped and encrypted in multiple places, like a safe.

Additional security: Hardware dedicated to cryptocurrency:
Ledger Nano
TREZOR
KeepKey

Even more security:
[link to tails.boum.org (secure)]
USB with bootable OS which will connect through TOR

News & Information:

List of cryptocurrencies, ranked:
Market Cap: [link to coinmarketcap.com (secure)]

Community:
Slack?

Coins to assess/buy: (Looking for others besides Bitcoin)
Bitcoin
Ethereum?
Ripple?
???

Transactions:

Buy: (Looking for sites with best rates and reputation)
Altcoin Trader?
Bittylicious?
Localbitcoins?

Sell: (Looking for sites to sell at best rates)
Buy gold with Bitcoin and sell gold?

Trade Bitcoin on Forex:
Another good way to trade Bitcoin is the Forex market. This subject will be expanded on at a later point in time.

Strategy:
I will approach Bitcoin by having actual Bitcoins in a cold wallet (long term) and by trading Bitcoins using my Forex account (short term).

I will be looking to invest after a retracement or where the next base forms.


----------------------------------------


Please feel free to share your favorite exchanges, sites, tools, strategies and best practices, or bad experiences and fraud to help your fellow man.

I will improve the content through my research and with the feedback provided.


----------------------------------------


Disclaimer: Trade at your own risk.

Isnt the fact that not a single peep from the government to squash this threat to the US dollar a red flag,,one can have supposedly total anonymity in transactions and avoid taxes..it would be soooo easy to stop just raid all exchange houses like coinbase..kick in the doors of any brick & mortar business that exchanges dollars for bitcoins..

we go to fucking war with countries that threaten to take gold instead of US dollar for oil..anybody that threatens to bypass the dollar gets a threat from the US gov but this bitcoin they leave alone?

I am of of the many who didn't buy Bitcoins despite becoming aware of them pretty early on, but I am looking to get more knowledgeable and get in, because I still see a huge upside potential.

I will allocate 10K to cryptocurrency, and will do so publicly, for everyone to follow along (or build upon).

It will be a win, or an epic and public failure.

I am doing this for a couple of reasons:
• A rising tide lifts all boats.
• Share research and progress with anyone interested in Bitcoin and how to get started.
• Possible GLP collaboration. (share knowledge/best practices)
• Your entertainment. (if I fail)


----------------------------------------


This post will be updated continuously as research progresses, my investments, etc.

Ongoing Research

First and foremost...

Profit potential:

A few of the reasons why I didn't buy Bitcoin yet is because it is uncharted territory and it is hard to tell where this can go. There was hardly any technical or fundamental analysis you could apply, and when I tried it a long time ago, it was not user friendly at all, and still isn't actually.

It is still difficult telling where this will go, but I believe that this technology will become mainstream when it becomes more user friendly. The underlying benefits of Bitcoin are clear to us on GLP (and criminals), but in the end, whether people will adopt it will boil down to convenience (and regulation).

Below a chart on technology becoming mainstream and fully adopted. What this tells me, is that despite the price of Bitcoin today, there is still a huge upside potential.

:scurve:

I am looking to step in after a retraction and I will expand on strategy more later on, but I've put together a basic table which allowed me to play with a few variables and plot scenarios. Below a screenshot of an easy to read configuration:

This scenario takes into account a few premises:
• The investment is not counted as profit.
• The first 10K is considered break even.
• No compounding
• It's a long term play.

Stating the obvious: Buying more coins will increase your profit before Bitcoin runs out of steam.

:pbroi:


As I am in the process of getting knowledgeable, I have currently collected the following:

Security

Online/Hot Wallet:
blockchain.info
The risk with online wallets is that you are not the only user of your private key. They can freeze you out of your own funds. Use them for small stuff but not for large investments.

Offline/Cold Wallet:
A USB stick with MultiBit and Bitlocker
Zipped and encrypted in multiple places, like a safe.

Additional security: Hardware dedicated to cryptocurrency:
Ledger Nano
TREZOR
KeepKey

Even more security:
[link to tails.boum.org (secure)]
USB with bootable OS which will connect through TOR

News & Information:

List of cryptocurrencies, ranked:
Market Cap: [link to coinmarketcap.com (secure)]

Community:
Slack?

Coins to assess/buy: (Looking for others besides Bitcoin)
Bitcoin
Ethereum?
Ripple?
???

Transactions:

Buy: (Looking for sites with best rates and reputation)
Altcoin Trader?
Bittylicious?
Localbitcoins?

Sell: (Looking for sites to sell at best rates)
Buy gold with Bitcoin and sell gold?

Trade Bitcoin on Forex:
Another good way to trade Bitcoin is the Forex market. This subject will be expanded on at a later point in time.

Strategy:
I will approach Bitcoin by having actual Bitcoins in a cold wallet (long term) and by trading Bitcoins using my Forex account (short term).

I will be looking to invest after a retracement or where the next base forms.


----------------------------------------


Please feel free to share your favorite exchanges, sites, tools, strategies and best practices, or bad experiences and fraud to help your fellow man.

I will improve the content through my research and with the feedback provided.


----------------------------------------


Disclaimer: Trade at your own risk.

Can someone please explain this to me?
- You're buying non cash crypto currency to one day sell it and be paid in dollars,correct?
- The value of this crypto currency is valued in dollars,correct?
How is this not just one big global ponzi scheme?
-say you have a billion bitcoin,how can I buy a loaf of bread or a gallon of gas with it?

The very thing people rationalize for the existence of this crypto currency is invalid because no matter what,in the end you will trade it in for dollars which is the very thing you insist it replaces!
If this was in fact a legitimate alternative to the dollar it would have no ties to the dollar at all and have the strength to stand on its own,correct?
Just seems like a repackaged shell game where the people that started this stand to make a huge fortune and then a crash where a bunch of wanna be Buffets are going to lose everything.

The people in it now don't really care because all they see is a huge pile of DOLLARS,not bitcoin at the end of the rainbow.
I just can't wrap my noodle around this,Help!

Excellent OP thank you!!

Mke

I will assess this on a daily basis.

Ideally, we will see a classic Fibonacci retracement to the 1600-1800 range next week. I will pull the trigger in that range, provided my indicators are not showing showing any red flags.

If panic erupts, the next stop could be the 1200-1300 range. I consider that unlikely, but not impossible as it would merely mean that the price would be going back to its original trend/channel. It would be a perfect and safe buying opportunity.

Considering the price just met resistance after a run, the next few days are going to be interesting, and will determine the options.


In the end, I am looking to buy below 2K USD, but of course the lower the better.

This is my primary concern.

What happens if the net goes dark or ceases to exist?

What plans are there, if any, for cashing out?

Can someone please explain this to me?
- You're buying non cash crypto currency to one day sell it and be paid in dollars,correct?
- The value of this crypto currency is valued in dollars,correct?
How is this not just one big global ponzi scheme?
-say you have a billion bitcoin,how can I buy a loaf of bread or a gallon of gas with it?

The very thing people rationalize for the existence of this crypto currency is invalid because no matter what,in the end you will trade it in for dollars which is the very thing you insist it replaces!
If this was in fact a legitimate alternative to the dollar it would have no ties to the dollar at all and have the strength to stand on its own,correct?
Just seems like a repackaged shell game where the people that started this stand to make a huge fortune and then a crash where a bunch of wanna be Buffets are going to lose everything.

The people in it now don't really care because all they see is a huge pile of DOLLARS,not bitcoin at the end of the rainbow.
I just can't wrap my noodle around this,Help!

Step 1. Can we agree cryptocurrency is money based on the following characteristics?

The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability.

You can pre buy mona.co looks very promissing 1 eth for 140 mco
They already sold 80% of all tokens

I invested 10k usd and expect to make about 10 times my money on the lauch day 😵