The Bitcoin (crypto) Beginner's Guide

Discussion of all things crypto and blockchain.
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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Tue Jan 09, 2018

SilverDoge wrote:How do you store your bitcoin or crypto?

I like to use wallets that store multiple coins. The below wallets work well.

Jaxx - https://jaxx.io/

Exodus - https://www.exodus.io/

MyEtherwallet (MEW) - https://www.myetherwallet.com/ This is the popular Ethereum based wallet for ERC-20 tokens. You can use a hardware wallet in conjunction with MEW for extra security.


I've used the Jaxx wallet for years. It is versatile in that it accepts a lot of different coins, but sometimes it gets a little flaky. I have the Jaxx wallet on a Win10 PC, a Chromebox, and my phone, all synced together. The Chromebox is my primary computer.

For some unknown reason this past weekend, the wallets refused to sync. The wallet on my Chromebox had the correct balances, but the Win10 and phone were unable to update. As a result, I was unable to send any crypto. I had made a trade with another BS member, but I was unable to send him the funds.

I tinkered with the problem, deleting wallets and creating new wallets, but nothing worked. I figured it would be a royal pain in the azz to fix the problem. The Jaxx wallet is a free product, therefore don't expect much in the way of customer support.

I checked on Monday morning, and discovered that all 3 devices were synced-up. I don't know what happened, but my wallet was unavailable for 2 days.

The moral of the story is this. If you are using Jaxx across multiple devices and the devices become un-synced, just wait it out for a few days. The problem might just resolve itself given time.

Always keep a copy of your 12 word backup phrase. Just because you've lost your wallet, you have not lost your coins as long as you have your backup phrase.

Last but not least..... If you have more than a week's pay in crypto, consider buying a hardware wallet like Trezor, Ledger S, or KeepKey. Hot wallets on phones or computers are really insecure.
Gentlemen prefer Engelhard.

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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Tue Jan 09, 2018

I forgot to mention one thing about Jaxx I really dislike.

If you choose to "Send Max", there is always a residual value left in your wallet. Back when it was.....maybe 40 cents, I didn't care, but this is ridiculous. I've tried numerous ways to get that balance closer to zero, but so far no luck, and it's not enough to ShapeShift.

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christostock
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Re: The Bitcoin (crypto) Beginner's Guide

Postby christostock » Fri Jan 12, 2018

Is there a way to view values in USD of only the coins I own.
As in can I favorite somehow my coins so I can see their value at a quick glance?
Now accepting direct payments through Wells Fargo bank and TD bank. Other payments options check, MO, cash
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Silversummit
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Silversummit » Fri Jan 12, 2018

christostock wrote:Is there a way to view values in USD of only the coins I own.
As in can I favorite somehow my coins so I can see their value at a quick glance?

I don't use jaxx but you can flag coins here to watch the price.
https://onchainfx.com

Or you can build a real or fake portfolio here to follow the prices and fluctuations of a group of coins.

http://blockfolio.com
Get $10 in bitcoin when you spend $100 with the link below.
https://www.coinbase.com/join/593f314703c4930098573eed

save 10% on all trade fee's for 6 months at gate exchange.
https://gate.io/signup/955279

binance
https://www.binance.com/?ref=13221361
thank you to any who use these links as I get referral bonuses also :thumbup:

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SilverDoge
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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Fri Jan 12, 2018

Silversummit wrote:
christostock wrote:Is there a way to view values in USD of only the coins I own.
As in can I favorite somehow my coins so I can see their value at a quick glance?

I don't use jaxx but you can flag coins here to watch the price.
https://onchainfx.com

Or you can build a real or fake portfolio here to follow the prices and fluctuations of a group of coins.

http://blockfolio.com


I use CoinStats. Others I know use an app called Delta. Blockfolio is okay too, but had some lag with it for some of my smaller alts.

UPDATE: CoinDash (CDT) will launch its own Coin tracking app according to their new RoadMap in February. Being a CDT holder, I will certainly download and test this one out as well.

https://blog.coindash.io/coindash-new-roadmap-announced-d4038b6bea0
Last edited by SilverDoge on Fri Jan 12, 2018, edited 1 time in total.
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silverhoarder3
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Re: The Bitcoin (crypto) Beginner's Guide

Postby silverhoarder3 » Fri Jan 12, 2018

christostock wrote:Is there a way to view values in USD of only the coins I own.
As in can I favorite somehow my coins so I can see their value at a quick glance?

I really enjoy the app HODL
You can also scan the news and social media posts using it as you click on the coin you want more info on.
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LittleAbner
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Re: The Bitcoin (crypto) Beginner's Guide

Postby LittleAbner » Fri Jan 12, 2018

christostock wrote:Is there a way to view values in USD of only the coins I own.
As in can I favorite somehow my coins so I can see their value at a quick glance?


What exchange/s are you using?

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Yellek
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Yellek » Fri Jan 12, 2018

christostock wrote:Is there a way to view values in USD of only the coins I own.
As in can I favorite somehow my coins so I can see their value at a quick glance?


I found the ap Coin Cap. It shows in USD.
m r purty. I like 'em gold 'uns.

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Re: The Bitcoin (crypto) Beginner's Guide

Postby joefro » Fri Jan 12, 2018

If you are into spreadsheets, there is an add-in for Google docs called CRYPTOFINANCE will pulls the information via API from coinmarket cap. You can pull value, 24 hr change, market cap, volume, pretty much anything you'd want. Very easy to use.

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christostock
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Re: The Bitcoin (crypto) Beginner's Guide

Postby christostock » Fri Jan 12, 2018

LittleAbner wrote:
christostock wrote:Is there a way to view values in USD of only the coins I own.
As in can I favorite somehow my coins so I can see their value at a quick glance?


What exchange/s are you using?


GDax
Kucoin
just got on to Binance so I have no clue how to navigate it yet
Had to register on binance on my daughters mac as my windows machine would not let me register
Now accepting direct payments through Wells Fargo bank and TD bank. Other payments options check, MO, cash
Please remind me for feedback if I have forgotten. I will also remind you if you have forgotten. Thanks for the awesome forum we have here.
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LittleAbner
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Re: The Bitcoin (crypto) Beginner's Guide

Postby LittleAbner » Fri Jan 12, 2018

christostock wrote:
LittleAbner wrote:
christostock wrote:Is there a way to view values in USD of only the coins I own.
As in can I favorite somehow my coins so I can see their value at a quick glance?


What exchange/s are you using?


GDax
Kucoin
just got on to Binance so I have no clue how to navigate it yet
Had to register on binance on my daughters mac as my windows machine would not let me register


PM sent

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Manwgoldengunn
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Manwgoldengunn » Fri Jan 12, 2018

Deposit/Withdrawal Limits. A lot of these exchanges have low deposit and withdrawal limits. Some even combine deposit/withdrawal as one totaled limited for an entire year. Anyway to get around them? An active or successful account could have your money locked up while price movements wipe out your gains. New to this and don't want to tie up a lot of money on certain exchanges that essentially hold it hostage.

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Re: The Bitcoin (crypto) Beginner's Guide

Postby Silversaving » Fri Jan 12, 2018

Manwgoldengunn wrote:Deposit/Withdrawal Limits. A lot of these exchanges have low deposit and withdrawal limits. Some even combine deposit/withdrawal as one totaled limited for an entire year. Anyway to get around them? An active or successful account could have your money locked up while price movements wipe out your gains. New to this and don't want to tie up a lot of money on certain exchanges that essentially hold it hostage.

Basically, the more information you send them, the higher your limit will be. If you dont mind sendin them your drivers license or passport copy along with your SSN you can get HUGE limits. If you are paranoid like me, you give them the bare minimum. That's why I prefer Binance. Unverified accounts (like mine) are still able to withdraw 2btc worth a day which is about $28000 in a 24 hour period.
Seeking a few Rodebaugh Bars. Looking for a series #1, Fat Boy, 2015 100g, & 2012 classic bar. Also collecting the #9 serial on any of his other pieces.

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Re: The Bitcoin (crypto) Beginner's Guide

Postby jcz1 » Fri Jan 12, 2018

Question - I see people commenting on how expensive it is to move bitcoin around. Is this cost variable? For instance, BitPay is used by websites to accept bitcoin, and there doesn't seem to be any issue with transaction cost in that case.

For example, I've seen $15 fees mentioned, but that's about the cost of the KFC bucket you can buy with bitcoin, so obviously the fee is much cheaper in that case. So why is it so much cheaper for Bitpay to accept someone's bitcoin vs exchange XYZ to accept it?

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SilverDoge
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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Sat Jan 13, 2018

jcz1 wrote:Question - I see people commenting on how expensive it is to move bitcoin around. Is this cost variable? For instance, BitPay is used by websites to accept bitcoin, and there doesn't seem to be any issue with transaction cost in that case.

For example, I've seen $15 fees mentioned, but that's about the cost of the KFC bucket you can buy with bitcoin, so obviously the fee is much cheaper in that case. So why is it so much cheaper for Bitpay to accept someone's bitcoin vs exchange XYZ to accept it?


Bitcoin transaction costs will vary. Some wallets & exchanges charge a flat fee based on their costs. Other wallet software will allow you to adjust the fee. The lower you make the fee, the higher the chance you sit in the mempool for awhile.

You don't buy a $15 KFC bucket with bitcoin. You use LTC, HYP, Dash, QRL or almost any other crypto for smaller daily purchases. Merchant adoption isn't there yet. It starts with "accepting bitcoin or crypto" and then it moves on to something better. We are simply very early.

I don't know Bitpay's costs structure but they can't just get everything cheaper than everyone else. Now if they are fully utilizing SegWit and batching transactions that could help their bottom line.
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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Sat Jan 13, 2018

SilverDoge wrote:
jcz1 wrote:Question - I see people commenting on how expensive it is to move bitcoin around. Is this cost variable? For instance, BitPay is used by websites to accept bitcoin, and there doesn't seem to be any issue with transaction cost in that case.

For example, I've seen $15 fees mentioned, but that's about the cost of the KFC bucket you can buy with bitcoin, so obviously the fee is much cheaper in that case. So why is it so much cheaper for Bitpay to accept someone's bitcoin vs exchange XYZ to accept it?


Bitcoin transaction costs will vary. Some wallets & exchanges charge a flat fee based on their costs. Other wallet software will allow you to adjust the fee. The lower you make the fee, the higher the chance you sit in the mempool for awhile.

You don't buy a $15 KFC bucket with bitcoin. You use LTC, HYP, Dash, QRL or almost any other crypto for smaller daily purchases. Merchant adoption isn't there yet. It starts with "accepting bitcoin or crypto" and then it moves on to something better. We are simply very early.

I don't know Bitpay's costs structure but they can't just get everything cheaper than everyone else. Now if they are fully utilizing SegWit and batching transactions that could help their bottom line.


It seems like the people who object to the fees want to use Bitcoin as a currency. The hodlers don't seem to care because they are stacking it as an asset. Once the Lightning Network gets implemented, the fees and transmission issues will be resolved, probably at the 11th hour.
Gentlemen prefer Engelhard.

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SilverDoge
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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Sat Jan 13, 2018

Bucketeer wrote:
SilverDoge wrote:
jcz1 wrote:Question - I see people commenting on how expensive it is to move bitcoin around. Is this cost variable? For instance, BitPay is used by websites to accept bitcoin, and there doesn't seem to be any issue with transaction cost in that case.

For example, I've seen $15 fees mentioned, but that's about the cost of the KFC bucket you can buy with bitcoin, so obviously the fee is much cheaper in that case. So why is it so much cheaper for Bitpay to accept someone's bitcoin vs exchange XYZ to accept it?


Bitcoin transaction costs will vary. Some wallets & exchanges charge a flat fee based on their costs. Other wallet software will allow you to adjust the fee. The lower you make the fee, the higher the chance you sit in the mempool for awhile.

You don't buy a $15 KFC bucket with bitcoin. You use LTC, HYP, Dash, QRL or almost any other crypto for smaller daily purchases. Merchant adoption isn't there yet. It starts with "accepting bitcoin or crypto" and then it moves on to something better. We are simply very early.

I don't know Bitpay's costs structure but they can't just get everything cheaper than everyone else. Now if they are fully utilizing SegWit and batching transactions that could help their bottom line.


It seems like the people who object to the fees want to use Bitcoin as a currency. The hodlers don't seem to care because they are stacking it as an asset. Once the Lightning Network gets implemented, the fees and transmission issues will be resolved, probably at the 11th hour.


Correct. People just need a bit of patience.
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Bucketeer
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Sat Jan 13, 2018

joefro wrote:If you are into spreadsheets, there is an add-in for Google docs called CRYPTOFINANCE will pulls the information via API from coinmarket cap. You can pull value, 24 hr change, market cap, volume, pretty much anything you'd want. Very easy to use.


Thanx Joe
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MaxGravy
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Re: The Bitcoin (crypto) Beginner's Guide

Postby MaxGravy » Sun Jan 14, 2018

I want to put some LRC on my MEW. I have ETH in gdax to trade for it. Binance isn't taking new customers right now. Where should I go? I made an account at gate.io from summit's link. Is that a reasonable way to do this? Thanx
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Silversummit
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Silversummit » Sun Jan 14, 2018

MaxGravy wrote:I want to put some LRC on my MEW. I have ETH in gdax to trade for it. Binance isn't taking new customers right now. Where should I go? I made an account at gate.io from summit's link. Is that a reasonable way to do this? Thanx

Gate is very similarly to binance. They trade LRC for Bitcoin or tether but not ether. I have been using them for several days so far and sent .5 bitcoin over with no problems. Use the link below foe 10% off trading fees for 6 months.

https://gate.io/signup/955279


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Get $10 in bitcoin when you spend $100 with the link below.
https://www.coinbase.com/join/593f314703c4930098573eed

save 10% on all trade fee's for 6 months at gate exchange.
https://gate.io/signup/955279

binance
https://www.binance.com/?ref=13221361
thank you to any who use these links as I get referral bonuses also :thumbup:


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