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Cryptorials: Learn How To Make Money Trading Altcoins

Discussion in 'Real Estate & Other Investments' started by solarion, Jun 7, 2017.



  1. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    lol Full nodes do take awhile to set up with coins that have history, but in the case of PoS coins, it's those running full nodes that give the coin value by securing it from attack and processing transactions. As a result everyone's data must exactly match and that's why it takes so long to process.
     
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  2. Joe King

    Joe King Gold Member Gold Chaser

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    Down to 581 days. :banana:
     
  3. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    Nice! lol

    How many connections to the network are you seeing?
     
  4. Joe King

    Joe King Gold Member Gold Chaser

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    24
    ...and only 575 more days to go! 6 days down in 90~ minutes. I can only hope that at some point it speeds up at least a little bit.

    Edited to add: at this rate it'll be sync'ed sometime next Wednesday.
     
    Last edited: Jun 15, 2017
  5. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    This is with a bootstrap? ...or from scratch? I forget which you ended up with.

    Either way takes entirely too long. Snapshots are usually synced and ready to r&r in a few hours.
     
  6. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    Litecoin up 18% vs fiat and 10% vs big brother bitcoin today. Still think there's moar in the tank. Litecoin had/has a lot of ground to make up imo.
     
  7. Joe King

    Joe King Gold Member Gold Chaser

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    From a snapshot dated 8-11-15. It was the newest I could find. I tried the bootstrap way several times with no apparent success.
    Edited to add: using the bootstrap, it would never get past the splash screen.


    Only 493 492 days to go. Still on track for Wednesday. Woo Hoo! lol
     
  8. solarion

    solarion Gold Member Gold Chaser Site Supporter

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  9. Joe King

    Joe King Gold Member Gold Chaser

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    What's the deal with DuabiCoin? In the past 10 minutes it went from 40cents to almost $16.
    I actually looked at buying a bit of that one a few days ago, but passed on it. Doh!
    ...and I see a lot of upwards movement across the board today in other cryptos.


    Edited to add: DubaiCoin is down to $3.15 $2.70 and falling. Guess ya really do gotta be quick, huh?
     
    Last edited: Jun 16, 2017
  10. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    I don't trade pump and dumps and avoid them like the plague.

    I have stacked just shy of 3btc trading LTC/BTC back and forth the past two days. Very low risk + high reward so there's not really an incentive to take a chance on things I've never even heard of.
     
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  11. Joe King

    Joe King Gold Member Gold Chaser

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    Ok, that helped a lot. Only 20 days to go! Double Woo Hoo!

    Guess I shoulda paid more attention to post #31, huh? lol

    Edited to add: @sandblaster you should try that, too. It helped, a lot.
     
    Last edited: Jun 16, 2017
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  12. Joe King

    Joe King Gold Member Gold Chaser

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    I just saw it at the top of the list on coinmarketcap.com today and remembered seeing it before and taking a look at it. So that's what a pump and dump looks like? I figured they'd take a bit longer, if for no other reason than to draw people in to buy. That thing was up and back down in what amounted to just a few minutes.
    ...and nice job on the ltc/btc trading. Very nice indeed. Big thumbs up!
     
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  13. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I have been in alt cryptos since 2014 and I have learned the following main points:

    1. Encrypt your wallet

    2. Backup your wallet file (usually a .dat file) and make several backups of it

    3. 1 satoshi = 0.00000001 BTC. For example: 531 satoshi = 0.00000531 BTC
     
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  14. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    You can't stop the litecoin monstah!

    [​IMG]

    +32% vs the FRN so far today.
     
  15. Nomis Elpmis

    Nomis Elpmis Minimalist Silver Miner

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    Solarion, nice call on Litecoin. New high. I was puzzled why Litecoin was stuck in a trading range while the others were making new highs. Bought a little at $26.

    Hey solarion. Are 'hot wallets' like 'Jaxx' ok to store Bitcoin during the 'UASF'? Would appreciate your thoughts on this issue.
     
  16. Nomis Elpmis

    Nomis Elpmis Minimalist Silver Miner

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    Anyone have an opinion on whether Bitcoin is in the process of forming a 'double top' and has completed the first top and has started the second? Below is the 2013 top chart and a now chart and below that is a basic 'bubble' diagram.
    bitcoin2013.jpg bitcoin2017.jpg trading cycle.jpg
     
  17. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    Thanks, I've been making a killing on that ratio this past week. You can always tell LTC is about to make a move because volatility begins increasing.

    I like Jaxx, cuz it stores you private keys on your own mobile device, but whether you're safe from the soft fork or no would depend on which wallet they use. Core will be safe and would be a vote in favor of bip148, but you'll have to ask Jaxx if they use bitcoin core code or no. Most likely yes, but my own coins will be in a full node armory(core) wallet on my own server.
     
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  18. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    Litecoin pulled back a bit vs bitcoin, but is still near its all time high vs fiat:

    http://i.imgur.com/s2tkKEI.png

    Meanwhile bitcoin is at 2758FRNs and climbing. If it makes another run at $3k and fails then it'll be in trouble and litecoin will be the place to be imo.
     
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  19. #48Fan

    #48Fan Silver Member Silver Miner

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    I think 4k is in the cards....
     
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  20. Joe King

    Joe King Gold Member Gold Chaser

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    I like your thinking.
    ...and @solarion , relative to bip148, what happens to btc on a full node vs not being on a full node when that time comes? What happens to any btc left on an exchange at that time?
     
  21. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    What happens to bitcoin after August 1 depends on many variables, most of which you and I have no direct control over. That said, one of those scenarios includes the possibility of a chain split. Should that occur and you have your bitcoin on an exchange then you'll not receive coins from both chains, the exchange would receive the bitmain coins to do with as they see fit...despite the fact that they only received them because you were storing your coins there.

    Here's an article that talks about it a little bit:
    https://bitcoinmagazine.com/articles/bitmain-responds-uasf-another-hard-fork-announcement/
     
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  22. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    Litecoin bounced off support and has gone back on the warpath. Now posting gains against both fiat and bitcoin as it again seeks to cross above 50FRNs.

    Ethereum cratering on rising volume. Apparently there's some problem with the network and it's jam packed with back logged transactions allegedly slowing the market cap loss...which is already $5b FRNs(-14%) at this point. I haven't looked into it much, because I don't trade crap, but it may prove an opportunity to someone. Time will tell.
     
    Last edited: Jun 21, 2017
  23. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I read somewhere (Coindesk.com???) that there was a multi-mullion dollar sell order that caused all of this since there were not enough buyers to fill that huge sell order. Feel free to correct me if I read this wrong.
     
  24. solarion

    solarion Gold Member Gold Chaser Site Supporter

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  25. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    Bitcoin pulling back vs fiat...again below 2600. Some say it's in sympathy to ethereum, which seems to be causing more problems over at coinbase(ground zero for the flash crash).

    I'm maintaining a position in LTC as it has recently come off its own ATH, is still too cheap relative to other cryptos imo, and I think will hold ground better than other major cryptos and/or rebound faster.
     
  26. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I am still eating my popcorn and watching the Bitcoin $ price action.
     
  27. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I just now realized that I lost my Whitecoin investment because my wallet became a "legacy wallet" because of some "coin swap" and my old coins are no good. Since I missed the "coin swap" and did not update my wallet, I lost my whitecoin investment (about $141 worth) since they "burned" the old whitecoins.

    I found out about it here (apparently I just missed the 5-21-2017 deadline to "swap" my old XWC for the new XWC on the new blockchain):

    https://bitcointalk.org/index.php?topic=804288.msg17899848#msg17899848

    That was my fault since I had not looked at it since late 2014 and a lot of major changes have occurred during the 3 years that I have not looked at it. $141 worth of Whitecoin (XWC) lost forever. $141.........POOF!!!!! GONE!!!! It was my fault for not actively keeping up with what was going on with the XWC crypto......................

    The lesson that I learned here is to keep up with any news and developments when it comes to your crypto investments. When it comes to cryptos, you cannot "leave and forget about it" because this is an environment that changes a lot and quickly. Lesson learned. Hopefully anybody reading this post did not make the same mistake that I did.

    My remaining crypto investments are now Dogecoin and Bitshares in which Bitshares is the bigger of the 2 crypto investments. Needless to say, I am now actively watching my 2 crypto investments now for any major news and any changes that will affect those investments.
     
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  28. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    Wait, so they just abandoned their old chain?
     
  29. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Yeah that it what it sounded like when they did the "coin swap". Apparently, the old XWC blockchain became "unstable" and they were about to be de-listed on Bittrex because of that unstable blockchain according to the XWC devs said on that bitcointalk thread.
     
  30. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    Nothing like making investors pay the price for their crummy code.

    Fortunately, the code illiterate bozo mucking around with ECC didn't do anything like that. He and the prior dev changed announcement threads about 5 times and there are a half dozen wallet releases that don't seem to work, but I still dug up a 3yr old wallet and eventually got them on an exchange. Well all but the last 50m which I can't seem to get to sync or I'd dump them too. The guys over at ECC give me zero confidence that they know what they're doing.

    Least functional wallet I've ever used.
     
  31. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    FWIW It could have been much worse in that I am glad that it was XWC that I lost my complete investment on and not Bitshares. While I am disappointed that I lost my XWC investment, I feel grateful that I was able to dig up my old Bitshares wallet and be able to upgrade to the new Bitshares 2.0 wallet and was able to recover my two bitshares accounts.

    Like I said in my earlier post, I should have paid close attention to this and should have followed the goings on regarding XWC. That is my fault and I will just have to suck it up as a lesson learned. I live and learn. For people reading this, the important lesson here regarding crpytos is...............................If you have any money invested in any crypto, then pay attention to any changes and any news about it and take whatever action is necessary to keep your investment from going poof. Crypto investments are not a "buy it and forget about it" type of investment.
     
  32. Joe King

    Joe King Gold Member Gold Chaser

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    It wouldn't bother me one bit if it traded for awhile in the range it's been in for the past week or so. Ie: let some good solid support build up prior to the next run-up.


    Any idea what the original window of time there was to have made the swap?

    @solarion , how often does stuff like Silver Art is referring to, tend to happen in these alt cryptos?
     
  33. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    Not often. I've had coins I've stacked orphaned...BCX(Battlecoin) comes immediately to mind, but if a new team revives the chain then your share of that chain should remain intact...provided you have your private keys.

    If I'd stacked a coin and a current dev team had orphaned my stack, but not their own, I'd be raising a stink about it. That's just outright scammy.

    Now I'm curious about what's going on over at White. I recall back in the day they had some kind of a feud with Blackcoin if you can believe it. Particularly silly since Whitecoin is a clone of Blackcoin. It all seemed really childish to me so I avoided both of them.
     
  34. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I think the original window of time for the coin swap was between February 20, 2017 and May 21, 2017. May 21, 2017 was the last day to do the coin swap for the new XWC on the new blockchain. Anytime after 5-21-2017, the old XWC coins were "burned" (i.e. destroyed/lost) since the old XWC blockchain is no longer valid after 5-21-2017.
     
  35. Joe King

    Joe King Gold Member Gold Chaser

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    Thanks. I bought a small (very small) amount of white a few weeks ago on pure speculation. I'm just gonna let it ride, see where it goes. If it goes to zero, oh well. If it goes up, I might be able to get a new pair of shoes at Payless. lol
     
  36. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    Yeah, that's a bunch of crap. Sounds like it was their own crummy code that made the switch necessary.

    I get frustrated with developers that cannot seem to stick with a concept. For instance CBX is a low yield PoSP coin I've never stacked, but I have stacked a couple variations of the same blockchain over the years. It was originally called CGB(Cryptogenic Bullion) back in the day, but they seem to switch directions for the project a couple times a year. Very frustrating, but if they orphaned my coins with their silly games I'd really lay into them. As it is I just don't add more, but the couple thousand I have merrily stake all day long.

    http://coinmarketcap.com/currencies/cryptogenic-bullion/

    Edit: lol CMC still calls it by its old name! Officially it's called Crypto Bullion now(CBX).

    This is all another vote for proof-of-stake coins, because if it stops staking one day you go looking for the cause. With proof-of-work coin(like bitcoin or litecoin) you'd not know the blockchain had been forked until you tried to spend your coins.
     
    Last edited: Jun 24, 2017
  37. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Yep that is true in that there was a feud with Blackcoin and Whitecoin is a clone of Blackcoin. Also IMO the XWC devs in 2014 did not appear to be active in keeping XWC going because of some upheaval in the "Whitecoin Foundation" and posters on Bitcointalk.org XWC thread were trashing XWC.
     
  38. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    I was on the scene way back when Blackcoin was a spring chicken. I recall that entire childish feud with the Whitecoin guys...total grade skool stuff.
     
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  39. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I agree.
     
  40. Joe King

    Joe King Gold Member Gold Chaser

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    Is there any way for a newb to alt cryptos to learn about stuff like that? Or it just takes lots of googling and knowing what to look for to avoid ones like that? Any tips/tricks to help sort 'em out? With so many cryptos, one could spend weeks just reading up on all of 'em and you'd end up missing out on something while deciding what to buy. lol
    ...and then there's always the possibility of analysis paralysis setting in due to simply having too many choices. lol
     
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