Crypto currencies 101.....for us neophytes.

[mikeydoo]

Heres an interesting watch on netflix.

Trust No One: The Hunt for the Crypto King | Official Trailer | Netflix​

 

[ferniesnow]

Busy still, but to keep the ball rolling here.

Leason 1. First thing you are going to need is crypto wallet that is not on an exchange. There is many different ones, many youtube tutorials on them too.

Heres what I suggest: Nano Ledger S. 89$ on Amazon https://www.amazon.ca/gp/slredirect/picassoRedirect.html/ref=pa_sp_atf_aps_sr_pg1_1?ie=UTF8&adId=A0208296HP48WER89LRL&url=/Ledger-Nano-Cryptocurrency-Hardware-Ethereum/dp/B07FY5R77T/ref=sr_1_3_sspa?crid=FJ6HHYBNDJ6O&keywords=nano+ledger+s&qid=1648912227&sprefix=nano+le%2Caps%2C231&sr=8-3-spons&psc=1&qualifier=1648912227&id=6408476436948199&widgetName=sp_atf

(you may need a different one or more than one depending on how many different crypto's you are collecting)

Then you'll need the App on a computer or phone: https://www.ledger.com/ledger-live/download

(A device not tied to your identity will be best)




Now you have a secure place to store AND can use it to trade and swap crypto's anonymously.



Next lesson will be how to aquire crypto anonymously.

So how does that work? If you buy one of those cheap, pinky-dinky throw away phones, doesn't it still have some kind of identity tracking?
I am just a short step up from a neophyte when it comes to technology!

 

[freeflorider]

I’d pay Dan to set this up for you. He could handle your crypto funds and get things rolling for you. Once your life savings are under control he could hand the rains over to you… Totally safe start up wink wink.

 

[5Lgreenback]

So is it safe to say, that the biggest risk to bitcoin/ other crypto’s, especially in Canada is if/when the government blocks all internet access without first signing in thru your digital ID or similar regulation?

This is my main concern, if they get this level of authority and surveillance over us, crypto investments could in fact be gone.

 

[ferniesnow]

Ether has gained about 16% in the last couple of weeks..............just saying.

 

[rknight111]

Ether has gained about 16% in the last couple of weeks..............just saying.

Up and down like crazy, look at 1 year. Maybe ill get my money back someday

 

[ferniesnow]

Up and down like crazy, look at 1 year. Maybe ill get my money back someday

IMHO, gotta watch daily and buy and sell with the highs and lows.

 

[ferniesnow]

Biggest thing to remember is crypto is a high risk investment. You could get some massive returns or you could loose it all.


If you think you're just gonna buy some cryptos and then be a billionaire a week later you're dreaming... .

I haven't got that much money to play with so I'm not worried about that. Just get a decent return and learn some things along the way.

 

[5Lgreenback]

Biggest thing to remember is crypto is a high risk investment. You could get some massive returns or you could loose it all.


If you think you're just gonna buy some cryptos and then be a billionaire a week later you're dreaming... .

I’m more viewing it as investing in a fight against our corrupt gov and their centralization of power.

If I just get out what I put in 5 years from now, I’ll be happy I found a place to keep some money that won’t be frozen by the banks.

 

[5Lgreenback]

Or better yet, 5 years from now be making everyday purchases with bitcoin.

 

[lilduke]

I also try to buy when things are going down, not up.

 

[ferniesnow]

Exactly. My starter money was just sitting in the bank. It wasn't rocket science to realize that I may be able to do something more than bank interest. Took a step and the rest is history. As said above, I buy low. It may not be a big amount but the percentage return has been good.

 

[kimrick]

Exactly. My starter money was just sitting in the bank. It wasn't rocket science to realize that I may be able to do something more than bank interest. Took a step and the rest is history. As said above, I buy low. It may not be a big amount but the percentage return has been good.

I have a hard time beleiving u have money in the bank the way u cook?
I thought u had shares in the bbq company and food store.
LOL, Bwhaaa!

 

[ferniesnow]

I have a hard time beleiving u have money in the bank the way u cook?
I thought u had shares in the bbq company and food store.
LOL, Bwhaaa!

We only go through this process once Richard, may as well eat and cook the good stuff.

 

[Med1ogre]

So..

https://sphere.finance
Check it out fellas.
I threw in a few bucks and have just over 10x in less than 3 weeks. The marketcap is still small and they're projecting to hit 1 billion buy July so were still early.
Even if the the token goes sideways you'll still profit off of rebase. do your own research

 

[ferniesnow]

So..

https://sphere.finance
Check it out fellas.
I threw in a few bucks and have just over 10x in less than 3 weeks. The marketcap is still small and they're projecting to hit 1 billion buy July so were still early.
Even if the the token goes sideways you'll still profit off of rebase. do your own research

I looked at the page and noticed the first thing that Ether was in the range of $3200. On the exchange that I am using, Ether is at $4100. Can someone explain the discrepancy?

 

[ferniesnow]

It is around 3200 US dollars and around 4100cad.

I didnt look, but one is probably in US dollars.

Right. I never thought about that. Thanks and I will have another coffee to get the brain going better!!

 

[ferniesnow]

Sure took a hit in the last little while.
Price of Ether and Bitcoin is way down. The “experts” aren’t recommending buying.
I bought a little more yesterday and read the article this morning. Those “experts” have been wrong before, so I’m hoping they are at least a little bit wrong this time.

 

[snopro]

Watched the Conservative leadership debates in Edmonton Doug and they were talking about the digital currencies are down 60% and 30% in one week. Very volatile but can swing back in the same amount of time. It would drive me nuts quite honestly watching it in a freefall.

 

[ferniesnow]

Watched the Conservative leadership debates in Edmonton Doug and they were talking about the digital currencies are down 60% and 30% in one week. Very volatile but can swing back in the same amount of time. It would drive me nuts quite honestly watching it in a freefall.

I was a little concerned but didn’t want to sell and lose a bundle.
I bought some more to give me a cushion. Crazy times for sure.