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Good day traders, I would just like to ask what is the very effective analysis to use in trading? I've been using Technical Analysis in my trades and it's not 100% accurate.
While bitcoin traders have many tools they can use to evaluate the cryptocurrency market, one of the most tried-and-true methodologies is what's called technical analysis. Using this approach, traders can get a better sense of market sentiment and identify key trends, and, with this information, make better-informed predictions.Technicians (sometimes called 'chartists') take a practical approach, looking at a security's history (using price charts) and applying various analytical tools to get a better sense of how the market feels about that particular security.
While 'fundamental analysis' - the counterpart to technical analysis - is more interested in determining what a security 'should' be worth, technicians are only concerned with a security's actual price movements. By looking at bitcoin's price history, technicians attempt to identify well-known patterns such as 'support' and 'resistance'.
? LAYING THE FOUNDATION
To get a better understanding of technical analysis, it is important to grasp the basic concepts of Dow theory, which has provided the foundation for this practical method for evaluating securities.
Dow Theory provides a few basic assumptions:
1. The market discounts everything. All past, current and even future information is already factored into existing asset prices. In the case of bitcoin, this would include variables such as past, current and future demand, as well as any regulations affecting the digital currency.
The current price reflects all existing information, including the knowledge and expectations of all market participants. As a result, technicians seek to interpret what the price is saying about market sentiment to make educated predictions about what prices will do going forward.
2. Prices movements are not completely random. Instead, they frequently follow trends, which can be either short-term or long-term. Once a security forms a trend, it is more likely to follow that trend than go against it. Through technical analysis, technicians seek to identify trends and profit from them.
3. 'What' matters more than 'why'. Technicians focus more on a security's price history than the specific variables that have created this price movement. While any number of factors could have caused a security's price to move in a certain way, technicians take a more direct approach by looking at supply and demand.
4. History has a tendency to repeat itself. Market psychology is predictable, and traders often respond the same way when provided with similar stimuli. Digital currency markets, for example, have frequently provided bullish responses to key events such as news evidencing rising adoption or greater visibility.
? IDENTIFYING TRENDS
Identifying trends, or the general direction in which a security is moving, can be very helpful for bitcoin traders. However, singling these trends out can be a challenge. Digital currencies can be highly volatile, and looking at a chart of bitcoin's price movements will likely show a series of highs and lows.
However, technicians know that they can look past the volatility and identify an uptrend when they see a sequence of higher highs and higher lows. In contrast, they can single out a downtrend when they identify a string of lower lows and lower highs.
There are also sideways trends, in which a security experiences little in the way of upward or downward movement.
Traders should know that trends come in many lengths, including short-term, intermediate, and long-term.
? MOVING AVERAGES
One technique bitcoin traders can use to more easily identify trends is to use 'moving averages', which help smooth out a digital currency's price fluctuations so market participants can get a better sense of where the price has been going.
The most basic kind of moving average is the 'simple moving average', which is determined by calculating a security's average price over a specific time period. Traders might look at what bitcoin has done over a five-day or 20-day period, for example.
A similar tool that bitcoin traders can use is the 'exponential moving average', which gives greater emphasis to more recent price values when calculating an average.
By analyzing moving averages, traders can get a better sense of when momentum shifts. For example, if a five-day moving average falls below a 20-day moving average, this development could point to a bull market turning bearish. Should the opposite take place, with the shorter average rising above the longer average, the converse is true.
Chart 1: A five-day moving average (SMA 5) repeatedly surpassing a 20-day moving average (SMA 20):
https://media.coindesk.com/uploads/2017/02/chart-5-day-SMA-rising-above-20-day-SMA.png
? SUPPORT AND RESISTANCE
Another crucial tool is the analysis of support and resistance levels. By identifying these levels, bitcoin traders can help get a better sense of the supply and demand surrounding the digital currency.
The support level is effectively the price at which a large number of traders are willing to buy a security, since they believe it is 'oversold' (ie sold at a price below its perceived true value). As the security approaches this price, market participants step in and purchase it, creating a 'floor'.
For example, if bitcoin prices trade above $1,000 for several days, any retreat to this price level might prompt market participants to believe the currency is oversold and therefore start buying.
Chart 2: Support level (in green): https://media.coindesk.com/uploads/2017/02/chart-support.png
The counterpart to support is resistance, which is a price level where a large number of traders are motivated to sell a security because they think it is 'overbought' (ie overvalued due to many traders buying at excessively high prices).
For example, if bitcoin prices trade below $1,000 for several sessions, moving toward $1,000 might prompt a significant number of traders to enter sell orders for the security, thereby creating resistance.
Chart 3: Resistance (in green): https://media.coindesk.com/uploads/2017/02/chart-resistance.png
Bitcoin sometimes fluctuates between levels of support and resistance, which work together to create a range. This is called 'rangebound trading', and creates opportunities for traders to buy bitcoin when it is near the bottom of the range and sell when it is close to the top.
Chart 4: Ranges of support and resistance: https://media.coindesk.com/uploads/2017/02/chart-rangebound-trading.png
However, should bitcoin prices exit a trading range, this can result in robust trading activity, significant volatility and a new trend.
For example, if bitcoin prices break through a price level that previously served as resistance, this price frequently ends up serving as a support level. Alternatively, the opposite could happen, with the digital currency's price falling below support, resulting in this level becoming a new resistance level.
? VOLUME'S KEY ROLE
Bitcoin traders should keep in mind that volume plays an important role in evaluating price trends. High volume points to strong price trends, while low volume indicates weaker trends. If bitcoin prices experience a large gain or loss, traders should be sure to examine volume.
For example, if bitcoin enjoys a long uptrend and then declines sharply one day, it is worth checking out volume to get a better sense of whether this downward movement represents a new trend or simply a temporary pullback.
Generally, rising prices coincide with increasing volume. If bitcoin prices enjoy an uptrend, but the currency's upward movements take place amid weak volume, this could mean that the trend is running out of gas and could soon be over.
Chart 5: Volume rising as the price climbs:https://media.coindesk.com/uploads/2017/02/chart-volume.png
Criticisms of technical analysis
? CRITICISMS OF TECHNICAL ANALYSIS
While technical analysis can be a valuable tool in a bitcoin trader's arsenal, those considering using it can benefit from being aware of the criticism brought against this particular approach. Much of this criticism comes from the 'efficient market' hypothesis, which is the idea that market prices reflect all available information.
If this assertion is valid, then there is no value to be had from conducting analysis in an effort to determine when securities are undervalued or overvalued. Efficient market hypothesis has both its critics and advocates, and arguments can be made either for or against the idea.
At the end of the day, it is up to each individual bitcoin trader to consider both sides and determine what they believe.
? KEY CONSIDERATIONS
By leveraging technical analysis, bitcoin traders can gauge market sentiment, identify trends and potentially make better-informed investment decisions. However, there are a few key variables they should keep in mind.
For starters, technical analysis is a very practical approach, looking only at a security's price and volume.
As a result, relying on technical analysis could potentially cause a trader to either miss out on opportunities to buy bitcoin when it is undervalued or, alternatively, purchase the digital currency when the price may be inflated, at least according to the fundamentals.
To manage this risk, bitcoin traders can potentially combine fundamental analysis with technical analysis. For example, if a bitcoin trader concludes that technical indicators and patterns are telling him to buy, he can help affirm this by evaluating some fundamental data, such as the approaching SEC ruling on the Winklevoss ETF.
Alternatively, a bitcoin trader could leverage fundamental analysis to determine whether bitcoin is undervalued or overvalued and then harness technical analysis to calculate the best point to either buy or sell the digital currency.
It's sad that this post got merited when it was obviously copied and pasted from: https://www.coindesk.com/bitcoin-traders-know-technical-analysis/
Honestly? The best tip to survive this market crash is simply to lose your 2fa device (lock it in a safe so you can't access it) so you can't touch your orders that are set for selling at a profit.
Next, stop looking at charts, start looking at news so you can find signs of a bull run.
And that's it. This will prevent you from selling at a loss.
Next, stop looking at charts, start looking at news so you can find signs of a bull run.
And that's it. This will prevent you from selling at a loss.
Fb can change your vote a lot better than a media news station could ever.
Why? Because with media stations, you have to be legit and spend so much $$$ to get your propoganda across on TV.
On FB, u just need to spend an hour making a great, professional looking banner and profile pic, then create an FB group and hire some Fiverr writers to write up whatever pro stories you want. Then post it up. People will believe, and join the group, and you'll slowly bias them with your posts as FB continuously places your post in their homepage...
Why? Because with media stations, you have to be legit and spend so much $$$ to get your propoganda across on TV.
On FB, u just need to spend an hour making a great, professional looking banner and profile pic, then create an FB group and hire some Fiverr writers to write up whatever pro stories you want. Then post it up. People will believe, and join the group, and you'll slowly bias them with your posts as FB continuously places your post in their homepage...
I can't tell if this is a troll thread or not lol. Your poll says: "1/1"
An ICo's team matters nowadays because everyone basically sucks. I mean like, if you're looking at a coin that's an erc20 token, then you know they have 0 coding skills. I don't want to sound like a dick, but it's true. If they can't code their own blockchain coin, then that's already negative points. So you can assume they're not super great devs.
So if you see ERC20 token, immediately think that they have to either be great businessmen or revolutionary leaders. Because that's what's going to make or break that ICO. If it's some kid who just graduated college in Art History who's the CEo behind the ICO, then bail.
On the other hand, if you have a standalone coin built, and the dev is a mystery, then you can give that coin a little bit more of your time and patience. You can judge that coin by the code and function, rather than by the history of the dev team.
An ICo's team matters nowadays because everyone basically sucks. I mean like, if you're looking at a coin that's an erc20 token, then you know they have 0 coding skills. I don't want to sound like a dick, but it's true. If they can't code their own blockchain coin, then that's already negative points. So you can assume they're not super great devs.
So if you see ERC20 token, immediately think that they have to either be great businessmen or revolutionary leaders. Because that's what's going to make or break that ICO. If it's some kid who just graduated college in Art History who's the CEo behind the ICO, then bail.
On the other hand, if you have a standalone coin built, and the dev is a mystery, then you can give that coin a little bit more of your time and patience. You can judge that coin by the code and function, rather than by the history of the dev team.
Please submit three instances of you meriting another poster under the above conditions.
How could low ranking members submit three sMerits if they can't even get enough of these merits?In my opinion, I think your action will only help merit farmers.
No. He's meriting people who are only meriting people with quality posts. I think that's awesome. He's actually helping keep bitcointalk's post quality up.
This gives an incentive for people to spend their merits only on posts/threads that are highly meritable instead of simply spam posts. We need more merit giveaways like this, where you need to spend sMerit for the right reasons in order to receive them.
Re: [2018-04-05] Japanese Police Arrest Chinese Man for Selling Cryptocurrency Ex...
This makes a lot of sense. There was a time when Bittrex, binance, cryptopia, and other big exchanges had their doors closed for new members simply because their servers couldn't deal with the influx of crypto hype. So many people wanted to get into "trading crypto" and these exchanges just couldn't handle it.
So people resorted to buying accounts.
But it looks like these people he sold the accounts to where using them for "illicit trading" :/
So people resorted to buying accounts.
But it looks like these people he sold the accounts to where using them for "illicit trading" :/
I can understand why you'd want to buy a full member account. I believe it literally takes 1 year or at least 8 months to get one if you do it naturally.
But still, most people use Full member accounts for bad reasons, and that's what ruins it for people who just want to buy one for prosterity reasons
But still, most people use Full member accounts for bad reasons, and that's what ruins it for people who just want to buy one for prosterity reasons
Yea man! That's where the money's at! It's not about these short-term trades, but the long-term decade hodl!
I'm like so jelly of the 18 year old teens right now, too dumb, too young, too foolish, and now saturated with bitcoin and crypto hype. I could see one of them going up to his friends saying, ey guys, watch this! I'm a buy $10 of bitcoin and be reeeech! lol, you so dumb, you a loser if u do that, that $10 dolla gone man. Just buy us some pizza, lel! Haha, you're on! I betcha I'm gonna be a millionaire, like Rebecca Black.
But he doesn't care about the money or the bet or the dare. They're just kids having dumb fun. And they don't know the value of $10 because it's probably lunch money or weekly allowance their parents gave. So he walks up to a bitcoin ATM, puts in $12 to buy $10, and it gives him a receipt with his private and public keys. He stuffs the piece of paper in his pocket and him and his friends laugh about it for a total of 20 seconds, then they go off to play sports and whistle at girls.
The kid comes home, tired, alone time on his mind, he empties his pockets and stuffs the piece of paper with his private key into his drawer without even thinking. He forgets all about it as he dons his headphones to listen to Justin Bieber while playing Pokemon Go Trump version. He doesn't have to worry or think about anything but school and having fun because he's still being supported by his parents or scholarships / generous college loans and whoever is holding his hand.
Flash forward 10 years later, 18-year old teen is now a 28-year old who just got engaged. He's moving his old dorm stuff into the new house he's mortgaged with his fiance. As he brings in one of the boxes, the piece of paper falls out. He picks it up and sees the familiar printout his mind is thrown back to the fun times he spent foolin' around without a care in the world that summer before college sippin' on slurpees with his crew by the 7/11.
He'd smile a little, remembering how carefree the world was, and how he wishes he could go back to that summer but then he'd also remember the bet and the dare! He had forgotten all about it! All this time, he's passively heard on the news the ups and downs of bitcoin and crypto while he was busy with earning his degree, his internship, and climbing the damn corporate ladder. He remembers the heights when it reached 25k, and the falls when a super Bittrex scandal came out and it fell back to $5k, he's heard some poor souls in Vietnam and India noosed themselves when everything crashed and they had their whole home hedged on bitcoin. Then he heard about the new developers and government contracts with Vitalik and other crypto leaders and the other moonshot when bitcoin made it to 50k. Then he heard about the huge scams and how bitcoin crashed again, and was glad he didn't jump in.
Now, last he heard bitcoin hit $5,000,000! He quickly turns on his quantum computer (because that's what's up 10 years from now) and searches for bitcoin help and finds Bitcointalk as the first search result. So he makes an account and makes a first post that will have all of us triggered: hey every1! I just found an old private key or whatever. There's two number strings. I THINK I REMEMBER I HAVE BTC0.00113! how do I download my bitcoins or whatever? PLS HELP! KTHXBYE!
A few shitposters with flashy signatures will throw up some walls of texts that are completely unrelated, like scanning his hard drive for a private key, looking for older hard drives, not sharing his private key with Amazon, not replying to Pms begging for BTC, and scanning his SIM card and phone memory for a string.
But then there will be the 5-liners that come next, which answer his question step-by-step guide on downloading Bitcoin core and importing his private key, and even a list of new hardware wallets that support private key importing.
A few hours later, his fiance walks into the computer room wondering why he's been in there when they were supposed to be watching King Fu Panda 19 on GoogleTV. He's now just imported his private key wherever and sees his balance is indeed BTC0.00113 after all these years, untouched by gamble trading and panic selling. He turns around excitedly to tell her, BAE! WE JUST GOT $5,618 BIG ONES FROM BITCOIN! Now we can pay off our ...But chances are they're going to buy an alta and experience the moons and hells we know and love.
I honestly think bitcoin will be huge in 10 years. Blockchain tech is the future, and bitcoin won't die. Decentralization is true democracy that only computers have brought us. Imho, it's as revolutionary as the internet, and it's greatly undervalued.
But, as my fiction narrative happily points out I think it's too late to buy bitcoin if you want to be one of those insane 10-year zillionaires. Imagine if this guy bought Eth or another solid alt?
would be funny if 10 years from now someone quotes my post and says: THIS IS ME, YO!
I'm like so jelly of the 18 year old teens right now, too dumb, too young, too foolish, and now saturated with bitcoin and crypto hype. I could see one of them going up to his friends saying, ey guys, watch this! I'm a buy $10 of bitcoin and be reeeech! lol, you so dumb, you a loser if u do that, that $10 dolla gone man. Just buy us some pizza, lel! Haha, you're on! I betcha I'm gonna be a millionaire, like Rebecca Black.
But he doesn't care about the money or the bet or the dare. They're just kids having dumb fun. And they don't know the value of $10 because it's probably lunch money or weekly allowance their parents gave. So he walks up to a bitcoin ATM, puts in $12 to buy $10, and it gives him a receipt with his private and public keys. He stuffs the piece of paper in his pocket and him and his friends laugh about it for a total of 20 seconds, then they go off to play sports and whistle at girls.
The kid comes home, tired, alone time on his mind, he empties his pockets and stuffs the piece of paper with his private key into his drawer without even thinking. He forgets all about it as he dons his headphones to listen to Justin Bieber while playing Pokemon Go Trump version. He doesn't have to worry or think about anything but school and having fun because he's still being supported by his parents or scholarships / generous college loans and whoever is holding his hand.
Flash forward 10 years later, 18-year old teen is now a 28-year old who just got engaged. He's moving his old dorm stuff into the new house he's mortgaged with his fiance. As he brings in one of the boxes, the piece of paper falls out. He picks it up and sees the familiar printout his mind is thrown back to the fun times he spent foolin' around without a care in the world that summer before college sippin' on slurpees with his crew by the 7/11.
He'd smile a little, remembering how carefree the world was, and how he wishes he could go back to that summer but then he'd also remember the bet and the dare! He had forgotten all about it! All this time, he's passively heard on the news the ups and downs of bitcoin and crypto while he was busy with earning his degree, his internship, and climbing the damn corporate ladder. He remembers the heights when it reached 25k, and the falls when a super Bittrex scandal came out and it fell back to $5k, he's heard some poor souls in Vietnam and India noosed themselves when everything crashed and they had their whole home hedged on bitcoin. Then he heard about the new developers and government contracts with Vitalik and other crypto leaders and the other moonshot when bitcoin made it to 50k. Then he heard about the huge scams and how bitcoin crashed again, and was glad he didn't jump in.
Now, last he heard bitcoin hit $5,000,000! He quickly turns on his quantum computer (because that's what's up 10 years from now) and searches for bitcoin help and finds Bitcointalk as the first search result. So he makes an account and makes a first post that will have all of us triggered: hey every1! I just found an old private key or whatever. There's two number strings. I THINK I REMEMBER I HAVE BTC0.00113! how do I download my bitcoins or whatever? PLS HELP! KTHXBYE!
A few shitposters with flashy signatures will throw up some walls of texts that are completely unrelated, like scanning his hard drive for a private key, looking for older hard drives, not sharing his private key with Amazon, not replying to Pms begging for BTC, and scanning his SIM card and phone memory for a string.
But then there will be the 5-liners that come next, which answer his question step-by-step guide on downloading Bitcoin core and importing his private key, and even a list of new hardware wallets that support private key importing.
A few hours later, his fiance walks into the computer room wondering why he's been in there when they were supposed to be watching King Fu Panda 19 on GoogleTV. He's now just imported his private key wherever and sees his balance is indeed BTC0.00113 after all these years, untouched by gamble trading and panic selling. He turns around excitedly to tell her, BAE! WE JUST GOT $5,618 BIG ONES FROM BITCOIN! Now we can pay off our ...But chances are they're going to buy an alta and experience the moons and hells we know and love.
I honestly think bitcoin will be huge in 10 years. Blockchain tech is the future, and bitcoin won't die. Decentralization is true democracy that only computers have brought us. Imho, it's as revolutionary as the internet, and it's greatly undervalued.
But, as my fiction narrative happily points out I think it's too late to buy bitcoin if you want to be one of those insane 10-year zillionaires. Imagine if this guy bought Eth or another solid alt?
would be funny if 10 years from now someone quotes my post and says: THIS IS ME, YO!
This is good, overall, tbh. Kapersky has a following of mainstream consumers that don't even know about crypto. They all are probably signed up to Kapersky's newsletters or some form of routine communications.
If Kapersky launches this hardware wallet, all of their subscribers will suddenly be more aware of crypto. Some may even buy the wallet because they realize it's an alternative way to store money XD
If Kapersky launches this hardware wallet, all of their subscribers will suddenly be more aware of crypto. Some may even buy the wallet because they realize it's an alternative way to store money XD
LOL, always login it means your cookies and sessions stored in Browser? Is this one of many cause for Account Hacked?
Only if someone gets his hands on your cookies. If that happens, your computer is compromised anyway and you have more things to worry about.No one's gettin' their hands on my cookies
. *hugs cookie jar to chest*Re: Joe's Signatureless Challenge: Win $25 ($10 for 2nd) + 8 Merits every week!
BitcoinTalk Username: zangleerb
BitcoinTalk Username: DREWSKIE
Hello, @zangleerb and @DREWSKIE. Welcome to the challenge! Because you have missed the cutoff for Round 3, I have reserved you two spots for the next round (Round 4, beginning Sunday, March 25 6:00PM [GMT -6].
All other applicants have been accepted and added to the spreadsheet.
Unless I missed anyone (which could be the case, but I'll review the thread again), we are at 24 participants for Round 3. This means that there will not be a 3rd place cash prize.
Because of the emotional roller-coaster for the last round, I've decided that if we have 25 valid participants at the beginning of the round, the cash prize for 3rd prize will be available, even if a participant is disqualified throughout the round. I will re-visit this if this is abused, but I don't expect that will happen.
I apparently missed some posts here, as given the slight drama in the forums, so I'm going to go back and address all the posts that I have not already. Sit tight.
It would really help if you could just delete the posts that aren't registrants. I mean, the debates mixed with registration just doesn't do anything but give everyone extra work.
I myself have to go back and find my original entry post just to sign up for round 4 later on.
I think maybe if you had a separate thread solely for registration purposes, it would make more sense. Like, maybe put a link in the first page to the registration thread.
I think that's more feasible actually, because everyone's deleting their registration posts anyway. So might as well ask everyone to delete & register @ other thread.
I would really be down for that, less work for everyone involved, including you, Joe.
the merit system is a scam trying to keep the guys up on the ivory tower. don't try to reason with them or suggest alternatives. they will always find a way to tell you that what you're proposing has certain downsides. Except for the perfect merit system they came up with. What a joke!
I think you're just impatient lol. I looked through your last 40 posts, and 60% of them were 1-liners or 2-liners, while the rest were pretty meaningful, so you know how to post good content, yes.
I think it's just that people are reluctant to give out merits right now because it's being mixed up with the Trust system.
Either that, or they have too few sMerits and aren't getting so many merits themselves, so they're reasoning that they should only give merits to really, really good posts.
The system is still equilibrating. But as you can see you already have 1 merit... and getting 1 merit when you post mostly 1 or 2-liners is a miracle lol.
So the system works. I bet you'd have 2 merits if your next 40 posts are 60% paragraphs rather than 1-liners
.Try it
Why people trying to make the already complicated system even more difficult? People struggling to get merits, it will take the average Joe couple years to reach from Member to Full Member. Then he has right to rest then, he already made enough contribution, don't you think? And ones who are Legendary by now, they contributed well to make this forum a great place. For me, I want to get Full member status and will be quite satisfied with it. But with so many dudes trying to be smart and obviously hoping to get merits for their smartness, my dream could never be fulfilled.
I think it can happen if you fix your grammar and learn to articulate your posts better.
If you can't, then post in the local board and be active there in your own language. You can then apply to be a merit source for your local board if you show that you're a true leader there and one who likes to contribute and help with your fellow same-language speakers.
The merit system is not here to reward people who are smart. The merit system is here to weed out spammers from people who are truly trying to be a good part of this community.
If you post a lot in your local language board, and you can show proof to Theymos that you're trying to be a valuable member of bitcointalk, then he will grant you a merit source.
My ideas for getting you started there:
1. When you find valuable BTC/altcoin news that you think your fellow countrymen should know, then just translate the news IN YOUR OWN WORDS and create a thread to let them know.
2. Look for people asking for help in your local board. Try your best to help them with your knowledge of crypto.
3. Get people involved. Start contests and fun threads in your own language to get everyone to be happy to be here. Like: "Post a fun fact about bitcoin!" And have people post what they know about bitcoin. The person who posts the most meaningful facts get a merit (i know you have extra merits
).The point is to be a valuable leader of your local board
.Or.
You can really just improve your English and post better... Then the merits will flow <3
Re: Newly PBOC Governor Once Called Bitcoin ‘Inspiring’, Praised Its Accessibility
He'll say whatever he wants to get the people's trust and support. Not that he would need it, I guess, in a communist land.
China is known for obstructing things that give people power -- social media censorship, internet censorship, and they even make sure to cast out any kind of currency or material that works better than their own government currency. Take the Copper Hedging thread, someone said that copper worked better with construction companies when trading for other materials.
What did China do? They banned the trading of copper for items... just because it worked to undermine the national currency.
I have no doubt that they're going to actively be against bitcoin and crypto, in general. If they would ban something as trivial as copper... they're going to ban bitcoin and crypto because it will disrupt their currency even more.
This governor, even if he is on the side of btc, will be drowned out by the communist party for real.
China is known for obstructing things that give people power -- social media censorship, internet censorship, and they even make sure to cast out any kind of currency or material that works better than their own government currency. Take the Copper Hedging thread, someone said that copper worked better with construction companies when trading for other materials.
What did China do? They banned the trading of copper for items... just because it worked to undermine the national currency.
I have no doubt that they're going to actively be against bitcoin and crypto, in general. If they would ban something as trivial as copper... they're going to ban bitcoin and crypto because it will disrupt their currency even more.
This governor, even if he is on the side of btc, will be drowned out by the communist party for real.
Look up the algorithm of the alt you're interested in mining in. If you want to pick a good alt to mine, you can go to Whattomine.com
Most profitable alts can be mined with the Claymore miner, so I would honestly look into those kinds of alts.
1. Find the mining pool address and note it.
2. Make a wallet and get your public key.
Open up the config file and edit it such that you insert the mining pool address and your public key...
3. Click on the .exe and you're good to go. Just leave it and you're set.
Of course, this is a basic how-to. You have to fine-tune Claymore's config for your GPUs so that you can maximize your profitability.
Most profitable alts can be mined with the Claymore miner, so I would honestly look into those kinds of alts.
1. Find the mining pool address and note it.
2. Make a wallet and get your public key.
Open up the config file and edit it such that you insert the mining pool address and your public key...
3. Click on the .exe and you're good to go. Just leave it and you're set.
Of course, this is a basic how-to. You have to fine-tune Claymore's config for your GPUs so that you can maximize your profitability.
The Merit system is barely 4 months old. You have to let things settle before you state this and that.
I see that you have 0 merits but a lot of activity -- this could be one reason why you're against the merit system, I'm not sure.
I like the merit system. It heightens the standards for everyone. Yes it's a little Nazi, but that's fine. I you're honestly interested in ranking up, just like in an MMO, you have to exp harder.
You can't just reach level 99 unless you spend an endless amount of time killing the same monsters in the same area for like 90 hours.
I'm pretty sure you'd feel salty about spending 90 hours to get to a higher rank on bitcointalk? Why? If you would do it for a videogame, why not for bitcointalk?
The merit system is here to give a home to people who generally and truthfully want to be part of a community that supports bitcoin and crypto.
The members with merits from the old system understand that now. In the beginning they were throwing around merits like it was candy. Now they're being more careful because they understand the system more and how it can be abused.
Slowly but surely the people who are earnestly trying their best to be a meaningful member of BTT are earning merits. So you might make 30 posts this week and get 0 merits, but then next week you could make 30 posts again and get 1 merit. As long as you're not spamming, and as long as you're enjoying the conversation, having fun, and giving some insights -- rather than just posting something to post something... people will see that and they will merit you.
this is the atmosphere of bitcointalk right now. You'll rank up if you deserve to rank up.
The catch 22 is:
If you really are here to be a part of bitcointalk, then why do you care about ranking up? As soon as you voice your disdain or frustration about ranking up, that's when people realize that you're not really here to be on the forum. You're just here for the bounties XD.
The truth is, Theymos really put a lot of thought into this system. You don't need to be anything above Jr. to be a part of this forum -- and that's why Jr. Member requires no merits. As soon as you're Jr., you can post without any real time limit, and use the search function. You can even participate in trades somewhat, and build a reputation there.
The only thing you can't do is hang out at the Ivory tower... but that's fine. The Ivory Tower should really be for people who are experienced and have hung out here long enough to be able to share a meaningful opinion. So I agree with only higher ranked members being able to post there.
But yeah, ranks are honestly just for show after Jr. Member. If you want to rank up past Jr. Member, I'd like to ask why? What is your motivation for doing so? Why do you feel so frustrated about it? If you can't say "it's not money," then other members will see that too.
I see that you have 0 merits but a lot of activity -- this could be one reason why you're against the merit system, I'm not sure.
I like the merit system. It heightens the standards for everyone. Yes it's a little Nazi, but that's fine. I you're honestly interested in ranking up, just like in an MMO, you have to exp harder.
You can't just reach level 99 unless you spend an endless amount of time killing the same monsters in the same area for like 90 hours.
I'm pretty sure you'd feel salty about spending 90 hours to get to a higher rank on bitcointalk? Why? If you would do it for a videogame, why not for bitcointalk?
The merit system is here to give a home to people who generally and truthfully want to be part of a community that supports bitcoin and crypto.
The members with merits from the old system understand that now. In the beginning they were throwing around merits like it was candy. Now they're being more careful because they understand the system more and how it can be abused.
Slowly but surely the people who are earnestly trying their best to be a meaningful member of BTT are earning merits. So you might make 30 posts this week and get 0 merits, but then next week you could make 30 posts again and get 1 merit. As long as you're not spamming, and as long as you're enjoying the conversation, having fun, and giving some insights -- rather than just posting something to post something... people will see that and they will merit you.
this is the atmosphere of bitcointalk right now. You'll rank up if you deserve to rank up.
The catch 22 is:
If you really are here to be a part of bitcointalk, then why do you care about ranking up? As soon as you voice your disdain or frustration about ranking up, that's when people realize that you're not really here to be on the forum. You're just here for the bounties XD.
The truth is, Theymos really put a lot of thought into this system. You don't need to be anything above Jr. to be a part of this forum -- and that's why Jr. Member requires no merits. As soon as you're Jr., you can post without any real time limit, and use the search function. You can even participate in trades somewhat, and build a reputation there.
The only thing you can't do is hang out at the Ivory tower... but that's fine. The Ivory Tower should really be for people who are experienced and have hung out here long enough to be able to share a meaningful opinion. So I agree with only higher ranked members being able to post there.
But yeah, ranks are honestly just for show after Jr. Member. If you want to rank up past Jr. Member, I'd like to ask why? What is your motivation for doing so? Why do you feel so frustrated about it? If you can't say "it's not money," then other members will see that too.
Twitter Finally Going Public About Teaming Up With Bitcoin and Lightning Network
Twitter came out in public and actively stated that they've donated millions of dollars to Lightning Labs to get their beta version out and running.
The news reports that now people can send btc and ltc to each other without the transactions having to go through the blockchain at first glance.
To put it clearly, the lightning protocol and the lightning network weren't created or developed first by lightning labs. Like everything in crypto, lightning protocol was an open source project during its alpha phase.
But all the top crypto leaders and orgs agreed that Lightning Labs was the best at developing the protocol, which is why they donated millions to their cause -- and now we have their beta version.
Everyone is saying this is a big milestone for bitcoin, and I believe it is too! Once people can send btc to each other without any fees and without waiting more than 5 minutes -- we'll see more transactions and more livelihood.
This could mark the start of general public and store acceptance. Groceries won't fear transaction fees anymore, and normies will love how fast they can send money to their friends and family.
The news reports that now people can send btc and ltc to each other without the transactions having to go through the blockchain at first glance.
To put it clearly, the lightning protocol and the lightning network weren't created or developed first by lightning labs. Like everything in crypto, lightning protocol was an open source project during its alpha phase.
But all the top crypto leaders and orgs agreed that Lightning Labs was the best at developing the protocol, which is why they donated millions to their cause -- and now we have their beta version.
Everyone is saying this is a big milestone for bitcoin, and I believe it is too! Once people can send btc to each other without any fees and without waiting more than 5 minutes -- we'll see more transactions and more livelihood.
This could mark the start of general public and store acceptance. Groceries won't fear transaction fees anymore, and normies will love how fast they can send money to their friends and family.
Just fyi,
You can see and gauge how much sMerit someone has simply by the transparency of the system. So that's a data dump hidden field.
You can calculate how much they've receieved versus how much they've sent... and from there you'll know how much sMerit they have left :/
You can see and gauge how much sMerit someone has simply by the transparency of the system. So that's a data dump hidden field.
You can calculate how much they've receieved versus how much they've sent... and from there you'll know how much sMerit they have left :/
There are many aspects of investing in bitcoin that you should teach yourself.
I think this covers a fair bit:
1. Storing bitcoin.
Learn the difference between public addresses and private addresses. Each private address can create any number of public addresses. The public addresses are where people send your bitcoin so you can receive it. Public addresses are safe to share around the internet.
Private addresses are your password to your bitcoin. Never share them. If public addresses are the email, then private addresses are the passwords.
You can store bitcoin in paper wallets. You can create your own paper wallet. A paper wallet is created by downloading and installing the Bitcoin Core. Scan your computer for viruses before creating a paper wallet in case hackers are looking at your computer. Create your private address, generate your public addresses.
Write down your public and private addresses BY HAND. You can also opt to export the public and private addresses into a notepad document and save it on a USB drive for safe keeping.
After doing so, you can simply use the public address safely around the internet, but always scan your computer before inputting your private key to access your bitcoins (to send bitcoins).
There are also Hardware and Web Wallets. Hardware Wallets can be safe, like Trezor, where the private key is not known by anyone but the Trezor device. I don't like this idea very much, because I'd like access to my private key. They give you a seed key, which u can use to access your wallet. It's still not the same. If Trezor goes bankrupt, your seed key is useless and you'll never know your private key.
But Hardware Wallets have awesome safeguards, like PINs and 2FA at the hardware level. Even if a hacker has access to your computer, or your outside having fun and plug your hardware wallet into a terminal. It doesn't matter! You have a PIN and password and whatever 2FA that lets you use it safely in public without anyone being able to hack your wallet unless you physically lose the Trezor device!
Web Wallets are even less safe. But they are convenient. Blockchain.Info is a trusted web wallet where you create an acount and they give you a public address. I'm not sure, but I dont think they let you access your private key anymore... Why are web wallets not safe? Most are scams, and your private keys IS STORED by them. And you just have to trust they won't do an exit scam where they just take everyone's private keys and leave.
2. Buying Bitcoin
Lookup how to buy bitcoin. Some methods, like PayPal, require 30% fees and identification with governmental IDs. You can only buy with PayPal on few sites, like Bitcointalk and Localbitcoins, and Virox. But due to the conflicts and possible scamming, there's a high markup.
You can buy bitcoin by cash by meeting strangers in real life. Like buying an item on Craigslist. There's a bit of a risk here where you hand someone money and htey just walk away laughing.
The easiest and safest and lowest fee way of buying bitcoin is buy linking your bank account with an exchange and depositing fiat. Then you would need to buy bitcoin with your fiat credits. Typical exchanges only charge less htan 1% fees which are typical of trading fees.
Once you've bought bitcoin, you can either keep it on an exchange, or send it to your private wallet (via public address). That all depends on whether you're into long-term hodling or short-term investing.
3. Being aware of bitcoin's price
Assuming you didn't transfer your btc to a private wallet, now that you have bitcoin at an exchange you can trade it everyday.
It's not hard to do, you'll notice there are clear signs that bitcoin price will pump or dump. But read news, lookup how to figure out and predict when the price will rise and fall. Then trade accordingly.
It's best, as everyone suggested, to leave bitcoin in your wallet without trading it and just wait until it's at the desired price you'd like to sell it at.
I think this covers a fair bit:
1. Storing bitcoin.
Learn the difference between public addresses and private addresses. Each private address can create any number of public addresses. The public addresses are where people send your bitcoin so you can receive it. Public addresses are safe to share around the internet.
Private addresses are your password to your bitcoin. Never share them. If public addresses are the email, then private addresses are the passwords.
You can store bitcoin in paper wallets. You can create your own paper wallet. A paper wallet is created by downloading and installing the Bitcoin Core. Scan your computer for viruses before creating a paper wallet in case hackers are looking at your computer. Create your private address, generate your public addresses.
Write down your public and private addresses BY HAND. You can also opt to export the public and private addresses into a notepad document and save it on a USB drive for safe keeping.
After doing so, you can simply use the public address safely around the internet, but always scan your computer before inputting your private key to access your bitcoins (to send bitcoins).
There are also Hardware and Web Wallets. Hardware Wallets can be safe, like Trezor, where the private key is not known by anyone but the Trezor device. I don't like this idea very much, because I'd like access to my private key. They give you a seed key, which u can use to access your wallet. It's still not the same. If Trezor goes bankrupt, your seed key is useless and you'll never know your private key.
But Hardware Wallets have awesome safeguards, like PINs and 2FA at the hardware level. Even if a hacker has access to your computer, or your outside having fun and plug your hardware wallet into a terminal. It doesn't matter! You have a PIN and password and whatever 2FA that lets you use it safely in public without anyone being able to hack your wallet unless you physically lose the Trezor device!
Web Wallets are even less safe. But they are convenient. Blockchain.Info is a trusted web wallet where you create an acount and they give you a public address. I'm not sure, but I dont think they let you access your private key anymore... Why are web wallets not safe? Most are scams, and your private keys IS STORED by them. And you just have to trust they won't do an exit scam where they just take everyone's private keys and leave.
2. Buying Bitcoin
Lookup how to buy bitcoin. Some methods, like PayPal, require 30% fees and identification with governmental IDs. You can only buy with PayPal on few sites, like Bitcointalk and Localbitcoins, and Virox. But due to the conflicts and possible scamming, there's a high markup.
You can buy bitcoin by cash by meeting strangers in real life. Like buying an item on Craigslist. There's a bit of a risk here where you hand someone money and htey just walk away laughing.
The easiest and safest and lowest fee way of buying bitcoin is buy linking your bank account with an exchange and depositing fiat. Then you would need to buy bitcoin with your fiat credits. Typical exchanges only charge less htan 1% fees which are typical of trading fees.
Once you've bought bitcoin, you can either keep it on an exchange, or send it to your private wallet (via public address). That all depends on whether you're into long-term hodling or short-term investing.
3. Being aware of bitcoin's price
Assuming you didn't transfer your btc to a private wallet, now that you have bitcoin at an exchange you can trade it everyday.
It's not hard to do, you'll notice there are clear signs that bitcoin price will pump or dump. But read news, lookup how to figure out and predict when the price will rise and fall. Then trade accordingly.
It's best, as everyone suggested, to leave bitcoin in your wallet without trading it and just wait until it's at the desired price you'd like to sell it at.
⭐ Merited by Chase (1)
The merit system was created due to the high demand in signature campaigns. But the people applying were all spammers with low quality content.
Crypto is an emerging field garnering billions of dollars in investments and revenue. Companies are jumping onto the blockchain tech train for moon purposes. They're using signature campaigns and paying out insane levels of upwards of $100 per week.
Where there's money, there's sheep. And believe me, all these low quality sheep are trying to make millions of alt accounts just to get into these signature campaigns to rake in dough that's unheard of in forum posting.
Bitcointalk basically got handed an influx of people that weren't there originally and a lot of rule abusers. And the staff at bitcointalk work for zilch, and there aren't that many mods or admins.
What happened? Theymos went hmm I need to find a way to automate this moderationz. And he came up with the ranking and merit system, which is still less than 2 months old.
The merit system is an automated system, it's genius, tbh. It's not an emotionless bot that bans and nukes your account for no reason. Because that would garner reviews and give more work for the mods/admins.
Instead, it's a time-based gatekeeper that's moderated by the users themselves. Very ingenious. So you have newbies who can't join any signature campaigns unless they make it through the 6 weeks necessitated boot camp. That means 6 weeks of posting without getting caught by spam bots and community reports.
Then once they're Jr. Member, they can only join some campaigns, while other campaigns are still locked for members only.
Now, to get to member, you need 10 merits. And again, here's the genius of it all it's the higher-ranked members who get to decide who gets these 10 merits. Someone who is known to be a scammer, spammer, or low quality content poster won't get 10 merits, so they can't join the bounties that make sense.
So Theymos, in effect, is creating a system where everyone is an admin or forced to be an admin without even knowing it.
The only problem herein, are the people who got merits who were spammers, scammers, etc. from the old system. But after awhile these people will be drained of sMerits and banned. And it's only a matter of time
All Theymos and the other staff have to do is closely monitor who they assign as Merit Sources. If they control the influx of merits, and have Commanders of Good Merit Giving, then everything policies itself!
You'll be left with a forum where only trusted people (not just good posters, but non-scammers) get merits. And these people will only send merits to other trusted people.
It will become a little nazi, at one point, but I believe you'll end up with a very clean forum where only the true posters who deserve to rank up will get merits.
Theymos and crew just have to make sure they're assigning Merit Sources to unbiased trustworthy people who aren't in the inner circle that people know exist.
It's not bad to have an inner circle. When humans group, they instinctively create inner circles. BTT has an inner circle and if these people are the only ones with merit, then you'll see biased merit-giving. The good news is, Theymos will prevent this by assigning Merit Sources to third parties too.
I expect really good things from the Merit System.
Crypto is an emerging field garnering billions of dollars in investments and revenue. Companies are jumping onto the blockchain tech train for moon purposes. They're using signature campaigns and paying out insane levels of upwards of $100 per week.
Where there's money, there's sheep. And believe me, all these low quality sheep are trying to make millions of alt accounts just to get into these signature campaigns to rake in dough that's unheard of in forum posting.
Bitcointalk basically got handed an influx of people that weren't there originally and a lot of rule abusers. And the staff at bitcointalk work for zilch, and there aren't that many mods or admins.
What happened? Theymos went hmm I need to find a way to automate this moderationz. And he came up with the ranking and merit system, which is still less than 2 months old.
The merit system is an automated system, it's genius, tbh. It's not an emotionless bot that bans and nukes your account for no reason. Because that would garner reviews and give more work for the mods/admins.
Instead, it's a time-based gatekeeper that's moderated by the users themselves. Very ingenious. So you have newbies who can't join any signature campaigns unless they make it through the 6 weeks necessitated boot camp. That means 6 weeks of posting without getting caught by spam bots and community reports.
Then once they're Jr. Member, they can only join some campaigns, while other campaigns are still locked for members only.
Now, to get to member, you need 10 merits. And again, here's the genius of it all it's the higher-ranked members who get to decide who gets these 10 merits. Someone who is known to be a scammer, spammer, or low quality content poster won't get 10 merits, so they can't join the bounties that make sense.
So Theymos, in effect, is creating a system where everyone is an admin or forced to be an admin without even knowing it.
The only problem herein, are the people who got merits who were spammers, scammers, etc. from the old system. But after awhile these people will be drained of sMerits and banned. And it's only a matter of time
All Theymos and the other staff have to do is closely monitor who they assign as Merit Sources. If they control the influx of merits, and have Commanders of Good Merit Giving, then everything policies itself!
You'll be left with a forum where only trusted people (not just good posters, but non-scammers) get merits. And these people will only send merits to other trusted people.
It will become a little nazi, at one point, but I believe you'll end up with a very clean forum where only the true posters who deserve to rank up will get merits.
Theymos and crew just have to make sure they're assigning Merit Sources to unbiased trustworthy people who aren't in the inner circle that people know exist.
It's not bad to have an inner circle. When humans group, they instinctively create inner circles. BTT has an inner circle and if these people are the only ones with merit, then you'll see biased merit-giving. The good news is, Theymos will prevent this by assigning Merit Sources to third parties too.
I expect really good things from the Merit System.