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  1. #21
    Expert Nomad's Avatar
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    Quote Originally Posted by willpgn View Post
    So Chris, where would you suggest someone new to crypto start? In your opinion, what would a good simple base setup look like for you if you were starting into cryptos today knowing what you already know? Obviously, there's a lot of options, scams, information, specialized language, etc. to scare off a lot of potential newbies.
    Datadash is a pretty good channel on YouTube. He has a bunch of how to videos, and is pretty level headed.

    Can't go wrong listening to, or reading anything from Andreas Antonopoulos.
    Last edited by Nomad; 12-20-2017 at 09:00 PM.
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  2. #22
    XCR Guru TexasChris's Avatar
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    Quote Originally Posted by TTEngineer View Post
    Keeping your crypto in a separate wallet completely negates one of its major advantages. And that's not having to deal with banks.

    Just keep it with the exchange or on your own personal system at home.
    I'm not seeing the connection between wallets and banks?


    ..and exchanges are definitely not to be trusted long term. If you're a HODLer cold storage is a great option. Security, reliability and accessibility.



    (HODL is a mis spelling of HOLD, but due to a drunken night of trading immortalized by reddit became "Hold On For Dear Life," and is now a term frequently used to describe those that only accumulate, but never sell.)
    Last edited by TexasChris; 12-20-2017 at 09:34 PM.
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  3. #23
    Rifleman xdmer's Avatar
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    My main concern is in the engineering and fatal flaws of many options, and real life use. I've seen the original papers before crypto currencies actually started gaining popularity and the darknet. It would take far to long to write a thorough reasoned response and would not follow popular opinion.

    Earlier systems were gamed, big time and they still are, exchanges and markets are manipulated like any other. Most pushers for crypto currencies (that are the most popular) need to drive and build demand.

    There is still a big promise for those who 'play the game'. Economics within the systems are highly volatile and are affected by the technology itself. These are experiments. Watch what people leading and controlling the systems are 'doing' and don't listen to what they are 'saying'. See where money is going into the networks.

    It's still unseen how real world conversions will take place and be regulated if you ever liquidate your position. There have been a lot of changes here and governments still don't know what to do. Money laundering and fraud is big issue as is theft.

    Currency is transactional in nature, yet none of the networks can manage any meaningful volume and not into the real world. I have a feeling that Ripple and under developed technology on Hashgraph is where we need to go. (technically right, doesn't always mean market acceptance, because people are swayed and manipulated, some of us have to live with it, we all deal with the outcome).

    Yes I realize how rambling and babely that sounds. If forum members want to know how to properly secure their activities online and wallets feel free to ask or PM. There are some good resources out there, but the signal to noise ratio around crypto currency is HUGE.
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  5. #24
    XCR Guru TexasChris's Avatar
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    Quote Originally Posted by xdmer View Post
    My main concern is in the engineering and fatal flaws of many options, and real life use. I've seen the original papers before crypto currencies actually started gaining popularity and the darknet. It would take far to long to write a thorough reasoned response and would not follow popular opinion.
    Thanks for the reply, but you sure managed avoid saying even a single thing of note. One thing that's never been shunned here is the truth, if you tell a verifiable truth, people will listen. This is likely the only place in the world where people will change their minds...but in order for that to happen, you have to give a reason to.

    Thus far you've offered "they're bad mmkay but you won't agree, and the reason I'm not gonna tell you is that it'd take to long and you won't agree." Bush league man. BTC has scaling issues and can only handle a certain amount of transactions at a time, but XRP has Visa levels of throughput. Each is a tool with an application

    Earlier systems were gamed, big time and they still are, exchanges and markets are manipulated like any other.
    Wha? Humans gamed a system? All systems are gamed.....you think crypto is more manipulated than the American market?

    The difference in crypto is that you can voluntarily choose which game.

    Most pushers for crypto currencies (that are the most popular) need to drive and build demand.
    Every innovation has to drive and build demand in order to further adoption...that's how emerging things of all types function....the easiest way to do it is to offer a superior product. How is crypto not a better option when compared with centralized, deflationary currencies?

    There is still a big promise for those who 'play the game'. Economics within the systems are highly volatile and are affected by the technology itself. These are experiments. Watch what people leading and controlling the systems are 'doing' and don't listen to what they are 'saying'. See where money is going into the networks.
    This is new, be careful, follow the money...... Sage advice but how does this differ from traditional market obstacles?

    It's still unseen how real world conversions will take place and be regulated if you ever liquidate your position.
    False. I'm reasonably sure you do not have a coinbase acct, and fairly certain you have neither bought nor sold BTC ever......or you wouldn't have written this. Real world conversion takes place at the speed with which I can click a button, and is available for use as USD immediately. If one chooses, it then takes the standard 3 days to be wired to a traditional bank acct. I'm reporting everything as I would market gains, and urge everyone else to do so.

    Not exactly dark and mysterious.....

    There have been a lot of changes here and governments still don't know what to do.
    What changes....but more importantly what does the government knowing what to do have to do with anything?

    Money laundering and fraud is big issue as is theft.
    If one person with a gun............(you know where this is going)

    For people just coming to the party...He's tap dancing around the BTC/terrorist association. Wherein one posits that if an individual is to use or hold BTC, they are a terrorist or a drug dealer. Because if you're not doing anything wrong, why do you want an anonymous currency!

    BTC was the main currency on a darkweb site called The Silk Road where you could buy illicit substances from reputable dealers. It was amazing. People rated the products, Sellers offered returns, rewards and product support. The violence and danger typically associated in that environment dropped to zero...(well...almost....the creator's head is now on a pike but not because of a security flaw, because he compromised himself by hiring help.)

    But really, you are talking about a human element like its inherent to crytpo..it is not..So my real question is how is this any different from cash? BOA and the cartels? CIA and Heroin? ISIS? I mean....

    Currency is transactional in nature, yet none of the networks can manage any meaningful volume and not into the real world.
    Not true....and not true. Omisego in Mickey D's over seas. Ripple developing consumer facing apps. BTC debit cards that function like regular debit cards. Amazon rumored to accept ETH soon.....(holy shit won't that be incredible!) Gunbroker sellers taking bitcoin, EBAY sellers taking BTC.....did you just wake up from a ten year nap?

    have a feeling that Ripple and under developed technology on Hashgraph is where we need to go. (technically right, doesn't always mean market acceptance, because people are swayed and manipulated, some of us have to live with it, we all deal with the outcome).
    I don't even know what this means.

    There are some good resources out there, but the signal to noise ratio around crypto currency is HUGE.
    Right now you're adding to it. You've provided no facts, no links nor any kind of proof and offered allusion and conjecture in their place. Not even one link to these alleged [i]good]/i] resources....too much irony for one sentence.


    Yes I realize how rambling and babely that sounds. If forum members want to know how to properly secure their activities online and wallets feel free to ask or PM.
    TBH it really does. To sum you up "Crypto is bad, but I'm not gonna take the time to explain it because you won't believe me. People are also using crypto to do bad stuff and the government doesn't understand it. The signal to noise ratio in crypto is bad."

    ......come on man. This is lame.

    What you're doing now, is the very reason we had to ask that you clarify your initial post....offering opinion steeped in foreboding tone with no substance...now I'm asking you to clarify a lot of opinion instead of just a little.....If you have useful info about how to secure wallets just tell us....but it had better not be some common sense stuff like run macaffee, use a VPN and don't leave your wallets online.

    No one here is going to ridicule a well supported conclusion because its unpopular, so please, if you have something to offer, offer it it.
    Last edited by TexasChris; 12-21-2017 at 08:32 PM.
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  6. #25
    Marksman TTEngineer's Avatar
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    Random thoughts on crypto

    Quote Originally Posted by TexasChris View Post
    I'm not seeing the connection between wallets and banks?
    There are companies popping up all over that are offering "wallets" and "security" to hold your crypto. They are essentially banks if you read the terms and conditions.

    It's my opinion that one should either keep their own coin on their own system or keep it with a secure exchange like Gemini.


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  7. #26
    XCR Guru TexasChris's Avatar
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    Quote Originally Posted by TTEngineer View Post
    There are companies popping up all over that are offering "wallets" and "security" to hold your crypto. They are essentially banks if you read the terms and conditions.

    It's my opinion that one should either keep their own coin on their own system or keep it with a secure exchange like Gemini.


    Sent from my iPhone using Tapatalk
    OH! I had no idea, the analogy makes total sense then....and I agree. Using a central system to secure decentralized currency is definitely purpose defeating.



    I think Merlin was talking about a private wallet, but on the off chance he wasn't, that is good intel.
    Last edited by TexasChris; 12-21-2017 at 03:40 PM.
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  8. #27
    Rifleman xdmer's Avatar
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    See and this is why I was hesitant to post, because I really don't care to argue, or write counter points. There is far too much to address. Have fun.
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  9. #28
    XCR Guru Merlin's Avatar
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    Quote Originally Posted by TexasChris View Post
    OH! I had no idea, the analogy makes total sense then....and I agree. Using a central system to secure decentralized currency is definitely purpose defeating.



    I think Merlin was talking about a private wallet, but on the off chance he wasn't, that is good intel.
    Yes a USB wallet. The Ledger to be specific. https://www.amazon.com/gp/product/B0...KIKX0DER&psc=1

    Still trying to get as much information as I can, trying to make an informed decision.

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  10. #29
    XCR Guru Merlin's Avatar
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    Quote Originally Posted by xdmer View Post
    See and this is why I was hesitant to post, because I really don't care to argue, or write counter points. There is far too much to address. Have fun.
    I just want to hear points or counter points without the emotion or bias in them. It is obvious that Chris is passionate about crypto but I don't think he was personally attacking you.
    I was confused too from your first comments, when the first part seems to say you wouldn't touch it with a 10 foot pole but later on saying that you were going to purchase some other less popular cryptos.

    "Be Vigilant and Safe!!"
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  11. #30
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    Quote Originally Posted by Merlin View Post
    I just want to hear points or counter points without the emotion or bias in them. It is obvious that Chris is passionate about crypto but I don't think he was personally attacking you.
    I was confused too from your first comments, when the first part seems to say you wouldn't touch it with a 10 foot pole but later on saying that you were going to purchase some other less popular cryptos.
    I think Chris called this one....the contradiction is telling.
    "Necessity is the plea for every infringement of human liberty. It is the argument of tyrants; the creed of slaves."-William Pitt the Younger

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