The Bitcoin (crypto) Beginner's Guide

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

Postby SilverDoge » Fri Jan 19, 2018

For those unaware about the origins of the HODL term or meme, here is the original post that started it all.

https://bitcointalk.org/index.php?topic=375643.0

Notice the date of the post. 18DEC13. This HODL post happened after a BTC price peak of over $1,100 down to around $550 - over a 50% drop in under 3 weeks. Now you know.
HODL.png
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BarsandStars
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Re: The Bitcoin (crypto) Beginner's Guide

Postby BarsandStars » Fri Jan 19, 2018

SilverDoge wrote:For those unaware about the origins of the HODL term or meme, here is the original post that started it all.

https://bitcointalk.org/index.php?topic=375643.0

Notice the date of the post. 18DEC13. This HODL post happened after a BTC price peak of over $1,100 down to around $550 - over a 50% drop in under 3 weeks. Now you know.
HODL.png



Ok, that's pretty funny. I just assumed it was another stupid meme like back in my old Honda tuning days when people would intentionally transpose letters in words...ie: teh instead of THE. secks instead of sex., etc.
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Long John » Fri Jan 19, 2018

Note also that HODL means different things to different people. To some (fewer and fewer, I suspect, as Bitcoin has gone to the moon and beyond) it means "never sell" because of a principled aversion to dollars. Hopefully before they die they buy property or gold or something with it, an acceptable form of selling, or give their family the means to access it. To others HODL just means hold through the hard times, don't panic-sell at a disadvantage. Short-term HODL. That's what the market is making me do right now.

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Re: The Bitcoin (crypto) Beginner's Guide

Postby Tractor Man » Fri Jan 19, 2018

I think they stole MaxGravy's shtick. Dcuk
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Noktrnl » Sat Jan 20, 2018

Hey guys! Thanks to everyone who has contributed to this post, I've already found tons of useful information and I'm barely even into the post! I'm about 3 weeks new to crypto so I'm still very uninformed but before I throw out a million questions, I'm gonna dig through this thread and come up with some solid questions.

A buddy that has been helping me so far was clowning on me for keeping all my coins in Binance/Coinbase so I'm currently looking into the hardware wallet/MEW idea but it's taking me a bit to understand it fully. I'm thinking I need to have one in my hand and it'll make more sense? Thanks again everyone!

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Re: The Bitcoin (crypto) Beginner's Guide

Postby Southpaw » Sat Jan 20, 2018

Good video on Binance

https://youtu.be/l8XNRTfPgZI

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Re: The Bitcoin (crypto) Beginner's Guide

Postby Bucketeer » Sat Jan 20, 2018

Gentlemen prefer Engelhard.

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Re: The Bitcoin (crypto) Beginner's Guide

Postby Preludedude » Mon Jan 22, 2018

So what is everyone doing who owns multiple altcoins? Leaving them on the exchange, because most people are constantly trading?

Its hard for me to imagine having a different wallet for every altcoin...But I guess the people who are holding long term, keep them in a wallet? Even if it means 6-8 different wallets?

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Re: The Bitcoin (crypto) Beginner's Guide

Postby BarsandStars » Mon Jan 22, 2018

I'm still trying to figure out where to send mine. I have Neo in a Neon wallet and set up MEW to send QTUM to. I need to figure out where to send LEND and XLM if not MEW.

Edit: Now I can't get into MEW through Metamask. That's odd. Is anyone else having problem ?
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Recluse » Mon Jan 22, 2018

BarsandStars wrote:I'm still trying to figure out where to send mine. I have Neo in a Neon wallet and set up MEW to send QTUM to. I need to figure out where to send LEND and XLM if not MEW.


LEND is an ERC20 token so you can put in MEW.
https://etherscan.io/token/0x80fB784B7e ... 29931aab03
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Re: The Bitcoin (crypto) Beginner's Guide

Postby BarsandStars » Mon Jan 22, 2018

Recluse wrote:
BarsandStars wrote:I'm still trying to figure out where to send mine. I have Neo in a Neon wallet and set up MEW to send QTUM to. I need to figure out where to send LEND and XLM if not MEW.


LEND is an ERC20 token so you can put in MEW.
https://etherscan.io/token/0x80fB784B7e ... 29931aab03


:thumbup: Thanks
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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Tue Jan 23, 2018

BarsandStars wrote:I'm still trying to figure out where to send mine. I have Neo in a Neon wallet and set up MEW to send QTUM to. I need to figure out where to send LEND and XLM if not MEW.

Edit: Now I can't get into MEW through Metamask. That's odd. Is anyone else having problem ?


Also QTUM is no longer an ERC-20 token so do not try to send that to MEW. This is a bit confusing, because many projects like QTUM, EOS, QRL and many others, that intend to run their own blockchains will first issue an ERC-20 token on the Ethereum network so that the users can actively trade them on exchanges until a MainNet launch is ready. Then the project will do a 1:1 swap for the real coin. QTUM has already done a MainNet launch and has their own chain now. So if you acquire QTUM from Bittrex or Binance, you are not getting an ERC-20 token, you are getting the real deal.

If you are confused on this point, just know that all ERC-20 tokens will have a receiving address that will begin with 0x. Therefore, if you go to send your QTUM to a wallet, and the address does NOT start with 0x then it is not an ERC-20 token and not able to be sent to MEW. Hopefully this clears things up.
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Re: The Bitcoin (crypto) Beginner's Guide

Postby anaecoin » Tue Jan 23, 2018

Thanks for the insights you posted here. I'm starting to learn all about the cryptocurrencies, kudos to everyone! :clap:

I will continue to navigate through this thread :pop: :pop: :pop:

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Re: The Bitcoin (crypto) Beginner's Guide

Postby BarsandStars » Tue Jan 23, 2018

SilverDoge wrote:
BarsandStars wrote:I'm still trying to figure out where to send mine. I have Neo in a Neon wallet and set up MEW to send QTUM to. I need to figure out where to send LEND and XLM if not MEW.

Edit: Now I can't get into MEW through Metamask. That's odd. Is anyone else having problem ?


Also QTUM is no longer an ERC-20 token so do not try to send that to MEW. This is a bit confusing, because many projects like QTUM, EOS, QRL and many others, that intend to run their own blockchains will first issue an ERC-20 token on the Ethereum network so that the users can actively trade them on exchanges until a MainNet launch is ready. Then the project will do a 1:1 swap for the real coin. QTUM has already done a MainNet launch and has their own chain now. So if you acquire QTUM from Bittrex or Binance, you are not getting an ERC-20 token, you are getting the real deal.

If you are confused on this point, just know that all ERC-20 tokens will have a receiving address that will begin with 0x. Therefore, if you go to send your QTUM to a wallet, and the address does NOT start with 0x then it is not an ERC-20 token and not able to be sent to MEW. Hopefully this clears things up.


So the Qtum I bought on binance is NOT ERC-20, but the "real coin" as you say? Any insight on the qtum wallet? What other options are there for storing this off exchange? As always, thanks for taking the time to reply and educate myself and others. You have no idea how much your posts (and that goes for the rest of you peeps) help us noobs.
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Rodebaugh » Tue Jan 23, 2018

George is a wallet collector.......gonna need a purse to hold all them wallets.

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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Tue Jan 23, 2018

BarsandStars wrote:
SilverDoge wrote:
BarsandStars wrote:I'm still trying to figure out where to send mine. I have Neo in a Neon wallet and set up MEW to send QTUM to. I need to figure out where to send LEND and XLM if not MEW.

Edit: Now I can't get into MEW through Metamask. That's odd. Is anyone else having problem ?


Also QTUM is no longer an ERC-20 token so do not try to send that to MEW. This is a bit confusing, because many projects like QTUM, EOS, QRL and many others, that intend to run their own blockchains will first issue an ERC-20 token on the Ethereum network so that the users can actively trade them on exchanges until a MainNet launch is ready. Then the project will do a 1:1 swap for the real coin. QTUM has already done a MainNet launch and has their own chain now. So if you acquire QTUM from Bittrex or Binance, you are not getting an ERC-20 token, you are getting the real deal.

If you are confused on this point, just know that all ERC-20 tokens will have a receiving address that will begin with 0x. Therefore, if you go to send your QTUM to a wallet, and the address does NOT start with 0x then it is not an ERC-20 token and not able to be sent to MEW. Hopefully this clears things up.


So the Qtum I bought on binance is NOT ERC-20, but the "real coin" as you say? Any insight on the qtum wallet? What other options are there for storing this off exchange? As always, thanks for taking the time to reply and educate myself and others. You have no idea how much your posts (and that goes for the rest of you peeps) help us noobs.


In the alt-coin QTUM thread this post was the original wallet download: http://bullionstacker.com/viewtopic.php?f=108&t=27948&start=160#p551572

However, there have been several wallet updates since then. The last one appears to be from 2 weeks ago, and it is a mandatory upgrade. Only download official wallets. See here: https://github.com/qtumproject/qtum/releases/

Current version is v0.14.13, which is a bit odd considering the first wallet was v1.0.2.

If you have further questions or tech questions about it, I recommend checking out their social media on Discord, Telegram or Reddit if the current QTUM holders here (in the QTUM thread) can't answer your questions.

This is the only real option for holding off exchange, and the way you'd want to hold so you can stake the coin (if desired).
Last edited by SilverDoge on Tue Jan 23, 2018, edited 1 time in total.
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Re: The Bitcoin (crypto) Beginner's Guide

Postby BarsandStars » Tue Jan 23, 2018

Rodebaugh wrote:George is a wallet collector.......gonna need a purse to hold all them wallets.

HEY! It's a European carry-all :clap:
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Re: The Bitcoin (crypto) Beginner's Guide

Postby Silversummit » Tue Jan 23, 2018

BarsandStars wrote:
SilverDoge wrote:
BarsandStars wrote:I'm still trying to figure out where to send mine. I have Neo in a Neon wallet and set up MEW to send QTUM to. I need to figure out where to send LEND and XLM if not MEW.

Edit: Now I can't get into MEW through Metamask. That's odd. Is anyone else having problem ?


Also QTUM is no longer an ERC-20 token so do not try to send that to MEW. This is a bit confusing, because many projects like QTUM, EOS, QRL and many others, that intend to run their own blockchains will first issue an ERC-20 token on the Ethereum network so that the users can actively trade them on exchanges until a MainNet launch is ready. Then the project will do a 1:1 swap for the real coin. QTUM has already done a MainNet launch and has their own chain now. So if you acquire QTUM from Bittrex or Binance, you are not getting an ERC-20 token, you are getting the real deal.

If you are confused on this point, just know that all ERC-20 tokens will have a receiving address that will begin with 0x. Therefore, if you go to send your QTUM to a wallet, and the address does NOT start with 0x then it is not an ERC-20 token and not able to be sent to MEW. Hopefully this clears things up.


So the Qtum I bought on binance is NOT ERC-20, but the "real coin" as you say? Any insight on the qtum wallet? What other options are there for storing this off exchange? As always, thanks for taking the time to reply and educate myself and others. You have no idea how much your posts (and that goes for the rest of you peeps) help us noobs.



I keep my QTUM both in QTUM core wallet and on my ledger blue
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SilverDoge
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Re: The Bitcoin (crypto) Beginner's Guide

Postby SilverDoge » Tue Jan 23, 2018

Silversummit wrote:I keep my QTUM both in QTUM core wallet and on my ledger blue


Can you stake from your ledger?
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Re: The Bitcoin (crypto) Beginner's Guide

Postby BarsandStars » Tue Jan 23, 2018

Just ordered a Nano S...can't believe how long the backorder is on those things. Won't ship til March 26 but better late than never.
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