Quote from: frenkelebre on February 01, 2018, 03:19:27 PM

I think you should also include a lil bit explanation in #5 the reason why they should read news. Because the bitcoin valuation are affected by numerous factors such as laws and local news. With that they will be motivated to read for they know their goal.

Thanks for your suggestion, I think i will be creating a new thread explaining about this later.

Quote from: ovcijisir on February 01, 2018, 04:10:38 PM

Quote from: reck1ess on January 31, 2018, 04:11:03 PM

BITCOIN 10 COMMANDMENTS

#7 Hold a diverse portfolio of cryptocurrencies to reduce risk. (need better suggestions: to be replace)

So i was thinking of a good idea to help beginners to start their journey in bitcoin and other cryptocurrencies. Then i came into this.
Would appreciate if you can contribute some suggestions that are better than mine so I can replace other commandments to make it look more better and helpful to freshers.

I would say for #7 that it is good to have cryptocurrencies that have different purpouse.

For example Litecoin's purpouse is fast transactions.
Ripple's purpouse is bank applications.
Ethereum's purpouse is smart contracts. And so on.

Also have some tokens that have real life applications.

For example when you buy EOS token you will get one part of EOS networks stake, which you can use to host website on it, or to rent it.

That might be a good idea, I will be re editing this post later so that it will be updated and more helpful.

Quote from: Jeremycoin on February 01, 2018, 04:11:34 PM

I don't think there are 10 of them, you actually repeating most of the points in the other number.
For example, number 2, 8, and 9 supposed to be in the same place.
And 5 & 6 also supposed to be in the same place.
And 3 & 10 too.

Quote from: reck1ess on January 31, 2018, 04:11:03 PM

#1 Never invest more than you are able to lose.
#2 Store your coins across different wallets. (For larger amount of bitcoin, HARDWARE WALLET is highly recommended) - Note: If you dont have ownership of your private keys, you dont own Bitcoin.
#3 Buy low, ~~sell high~~. (Just buy on the dips and hold)
#4 Understand and respect the idea of bitcoin and the intended direction set out by the creator and developers.
#5 Take time to read news in full and assess if it is accurate and what it means, do not believe everything you read or hear.
#6 Never allow your emotions to dictate your decisions, always take time to consider decisions and remove panic/fear from them.
#7 Hold a diverse portfolio of cryptocurrencies to reduce risk. (need better suggestions: to be replace)
#8 Practice safe practices with passwords and private keys, do not ever share these with anyone under any circumstances. Give your cryptocurrency addresses instead. Always backup you wallet/private key and store it on multiple locations. (better if it is hand written)
#9 Always put secondary securities if available.
#10 HODL!

Thanks for the correction sir/ma'am, I will be combining these once we get more suggestions and contributions to add in this topic. If you might have any idea to add, it would be great.

Quote from: zoloq33 on February 01, 2018, 04:33:20 PM

A very important advice that you forgot which can be relevant to many people is:
#11 unless you trade very often, always withdraw your funds from exchanges and store them on offline wallets.
It's not just the security issue (which is a big deal by itself with so many exchanges got hacked recently) but it simply gives you more flexibility on your coins. Every other day there are bad news on exchanges that raise they fees suddenly/take very long time to approve withdrawals and other things that can get you stuck with your money on the exchanges.

Thanks for this bud, i will be adding this suggestion to my post.