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

Op, the first chart you posted features the word "laggards".

Did you create that chart? If so, would you please change it to laggtards? You know...in the spirit of GLP

im not interested in jumping on a bandwagon created by the CIA..
I'll stick with tangible time tested investments like precious metals,,virtual super mario tokens is just as bad as FIAT Federal Reserve notes backed by nothing and worthless as real investments..
just a digital Ponzi scheme..if i want to gamble i'll go down to my local casino..

:scoobyd00:

Interesting, I might invest with you too,

im not interested in jumping on a bandwagon created by the CIA..
I'll stick with tangible time tested investments like precious metals,,virtual super mario tokens is just as bad as FIAT Federal Reserve notes backed by nothing and worthless as real investments..
just a digital Ponzi scheme..if i want to gamble i'll go down to my local casino..

DON'T BUY ANY CRYPTO IT'S ALL A PONZI SCHEME YOU WILL LOSE ALL YOUR MONEY DON'T DO IT!!!!


;)

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)


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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.


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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.


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Disclaimer: Trade at your own risk.

DON'T BUY ANY CRYPTO IT'S ALL A PONZI SCHEME YOU WILL LOSE ALL YOUR MONEY DON'T DO IT!!!!


;)

I'm going long on these alts: doge, gnt, ltc, dgb, xlm, sc, vox, rdd, btb, xvg. Some are probably total longshots, but only cost a few bucks. Plan on adding many more to my blockfolio.

You need to be aware that there are problems on the BTC horizon.
The system only handles some 7 transactions per second, which is way to little.
The way to make it work, is to raise the transaction costs constantly to a level where people simply refrain from doing transactions.

There are improvements on the way, but according to the design of BTC, 95% of the network needs to agree on an improvement for it to take hold.
This has proven to be impossible on BTC and there is a stalemate since 2 years.

Without this improvement, the fees are exploding with 1200% per year.
We can possibly see $10 transaction-fees within a year.

Last news couple of days ago, is that they will try to do a coup and change BTC even without the 95% support.
This will require a hard fork, and we could possibly end up with two parallel bitcoin networks.

BTC might overcome these problems, but there are other coins that already are way passed these issues.
Also, BTC uses electricity for several millions of dollars each day, just to crunch numbers, which is not really necessary.
There are other chains that do not require this enormous amount of electricity.

Because of this, BTC has gone from being 85% of the cryptocurrency space to 50% in a couple of months.

I was thinking about it too.

But I need to be led like a 5 year old through this mind-field of acquiring the Bits.

I will. I will provide complete transparency.

im not interested in jumping on a bandwagon created by the CIA..
I'll stick with tangible time tested investments like precious metals,,virtual super mario tokens is just as bad as FIAT Federal Reserve notes backed by nothing and worthless as real investments..
just a digital Ponzi scheme..if i want to gamble i'll go down to my local casino..

:scoobyd00:

You need to be aware that there are problems on the BTC horizon.
The system only handles some 7 transactions per second, which is way to little.
The way to make it work, is to raise the transaction costs constantly to a level where people simply refrain from doing transactions.

There are improvements on the way, but according to the design of BTC, 95% of the network needs to agree on an improvement for it to take hold.
This has proven to be impossible on BTC and there is a stalemate since 2 years.

Without this improvement, the fees are exploding with 1200% per year.
We can possibly see $10 transaction-fees within a year.

Last news couple of days ago, is that they will try to do a coup and change BTC even without the 95% support.
This will require a hard fork, and we could possibly end up with two parallel bitcoin networks.

BTC might overcome these problems, but there are other coins that already are way passed these issues.
Also, BTC uses electricity for several millions of dollars each day, just to crunch numbers, which is not really necessary.
There are other chains that do not require this enormous amount of electricity.

Because of this, BTC has gone from being 85% of the cryptocurrency space to 50% in a couple of months.

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.

I own some Game Credits (GAME) and also it's sister coin MobileGo which just had a huge ico (raised 50+ million) but isn't on exchanges yet.

They are both built for mobile gaming which isn't going anywhere anytime soon.

[link to gamecredits.com (secure)]

[link to mobilego.io (secure)]

GAME was up 10x until the recent pop on cryptos. Everything will come back. Might be a good time to get in. They have the Storefront launching end of June / early July and are starting to partner with eSports and others.

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?

In addition to that, we need to see your addresses so we can check them against the blockchain/s and verify x went to y from z. IE: Your transactions need to be verified or you could just randomly pick some crypto address and say you deposited x coins in it.

So for transparency, you need to show:

A. X amount.
B. Y to address.
C. Z from address.
D. datetime

It'd be best if you did this BEFORE the transfer occurred, otherwise, again, there is no transparency.

Also, obviously, the to address (deposit) shouldn't change if you are using the same wallets - which you should be doing since you are talking about transparency.

Happy coining.

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?

You need to be aware that there are problems on the BTC horizon.
The system only handles some 7 transactions per second, which is way to little.
The way to make it work, is to raise the transaction costs constantly to a level where people simply refrain from doing transactions.

There are improvements on the way, but according to the design of BTC, 95% of the network needs to agree on an improvement for it to take hold.
This has proven to be impossible on BTC and there is a stalemate since 2 years.

Without this improvement, the fees are exploding with 1200% per year.
We can possibly see $10 transaction-fees within a year.

Last news couple of days ago, is that they will try to do a coup and change BTC even without the 95% support.
This will require a hard fork, and we could possibly end up with two parallel bitcoin networks.

BTC might overcome these problems, but there are other coins that already are way passed these issues.
Also, BTC uses electricity for several millions of dollars each day, just to crunch numbers, which is not really necessary.
There are other chains that do not require this enormous amount of electricity.

Because of this, BTC has gone from being 85% of the cryptocurrency space to 50% in a couple of months.