Interesting reflections. For me as a complete noob in the crypto sphere its hard to see thoose trends. Im learning as I go and try to research as much as I can. Seem to be alot of scams around however wish makes it a verry high treshold to get into cryptos. What wallets to trust, what exchanges to trust and so on. You can allmost search on any of the crypto exchanges and find articles about them being scam sites and so on. Even the ones thats being considered reputable has some disconcerning articles about them with people who lost cryptos with them.
Makes it hard to choose what services to actually dare to trust.
And as if that wasnt enough, theres so many scam/pyramid/ponzi like schemes out there in the cryptosphere, wich really hurts the ”brand”. People falling into thoose traps will most likely get a verry bad first experience and maybe never return.
Thanks for your thoughts @bitcoinpeoms
Indeed, I sympathise with newbies coming into the space.
Like I said, it is the wild west out there and just as in the old wild west days of america, there are real dangers. Outlaws, snake oil salesmen and indians that want to take your scalp.
When I started I also got burned a few times. However, in those days the price of cryptocoins were very cheap and so if I lost money it was no so painful. So I guess learned from my mistakes without losing my shirt. Nowadays, however it is a different ball game altogether, and prices are serious money. Make a mistake now and you can lose a fortune.
I am an artist by profession but I love technology and I got into cryptocurrency simply because it was interesting to me. And I hate the banks lol. I knew the prices would rise but did not think it would explode as fast as it did. I dont deny that I have made a serious amount of money because of it and I also know that this is just the beginning. The Cryptomarket is set to explode in 2018 and I want to be around for the journey:
I realised that there are many here on Steemit that follow my blog for art reasons but are also interested in Crypto coins, probably because Steem is their first contact with cryptocurrency - and so I started blogging in a way that I hope can help non-technical and newbies can understand and learn from my experience.
There is no reason why we cant all benefit from the coming crypto boom.
Any recommendations for a complete noob? As I see it the key is to not think to much in $ but rather in the accumulation in total coins especially when it comes to accumulating for example bitcoins. One thing ive considered is what type of formula one would think in when converting cryptos to other cryptos to see what you end up in total bitcoin in the end. But I dont seem to be able to calculate that for example. Im sorry if I pose this question strangely due to my lack of understanding. Any advice is welcome. My interest is in Holding but also some daytrading.
IOTA is a solid investment for the future - When I first read about Bitcoin in 2012 I became so excited and knocked over the dining table and the wine went everywhere. The technology made perfect sense to me and I immediately wanted to be part of the revolution. Everyone I knew, and I mean everyone, laughed at me. They dont laugh anymore. When I read about IOTA, I got that same reaction. This time I read about IOTA one year before they were even released. There is no doubt in my mind that IOTA is the BItcoin of tomorrow and the price will rise substantially in 2018. Probably to about $4-$6 dollars. I have invested heavily in IOTA and bought it at $0.32. It has recently risen to $0.60 and I would be surprised if it goes lower. It may fluctuate between this price to $0.58 as traders take out their profits but honestly expect it to gradually go up from here. Interest in IOTA is enormous and growing.
There is some good news coming out for IOTA (of which I will be doing a post on very soon) this news will further boost the price. DASH is a safe bet but you have missed the boat a little on there. You could not do wrong by buying hash power from the new round of Genesis mining contracts on offer. After 3 months you would have earned back your investment and after that it would pay you out Bitcoin for life.
Welcome on board the crypto train my good fellow : )
Thank you so much for your reply and insights @arthuradamson do you have any recommendations when it comes to any supposedly safe exchange to use? Do please let me know if I breach any kind of ethiquette rules here on Steemit with my questions. I dont really know what is ok questions to ask and such.
"You could not do wrong by buying hash power from the new round of Genesis mining contracts on offer. After 3 months you would have earned back your investment and after that it would pay you out Bitcoin for life."
Only ones they are offering right now is , 2 Years Ethereum, Monero 2 Year contract, and Zcash 2 Year contract unless I'm missing something.
Have looked at genesis a couple times and they are always sold out for BTC when I look. Think it would be worth doing otherwise. Then again I might just buy the equipment and do it myself. Not a fan of middlemen and trusting they will actually keep paying.
I understand you.
Genesis mining had litereally just offered new Bitcoin lifetime mining contracts but they will sell out fast. I bought a small one which will pay me about 0.3 Bitcoin a year for life. That cost me $400.
I am looking into the Bitcoin Gold mining situation at the moment.
People say it will be a failed coin but when I hear such things as that then it always gets my attention. I tend to do the opposite of what the crowd says.
Always good to hear from you @thedarkhorse
I'm also thinking Gold could be a promising coin as it's being bashed. Talked with my wife about putting in a mining rack in the basement. Stays cool year round down there and it's only storage, just would need to sound proof so the sound doesn't come upstairs.
People are underestimating BTGold in my opinion. It is actually in the spirit of Bitcoin being decentralised so I like that. The idea also reminds me of "Burstcoin" - This did not work out well though because it bevame dominated by gangters - BTGold might fo better because it seems popular with purists rather than brutal capitalists. BTGold are having tech problems as the moment so it is early days. I have a feeling BTGold will become popular with students
@arthuradamson see reply before this. Still learning how steemit works :/