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What You Really Want to Know About Cryptocurrency Trading for Beginners.

Jonathan Fairfield

By Jonathan Fairfield
in Cryptocurrency News

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tinom Explorer Member

tinom

Posted
Posted

Good serie of comments!

 

Recommendation #1: Don't spend money on anything you don't understand the reason/value/use/need!

Recommendation #2: Get at least basically informed, we speak about the "Internet of Money" and Internet did change the world, expect the same here! (see some youtube suggestions below)

Recommendation #3: I have seen many times is "Put up to 10% of your savings/investments in Bitcoin but not more than you could afford to loose, then forget about it for 5 years...
(You could as well empty small coins from your pockets into a jar, and once a week or month, buy this value of BTC...)

To newbies, if Bitcoin hitches you in a positive or negative way, I would suggest to spend 10 minutes in an easy to understand intro in which the orator's daughter comes in to simplify what her father explains.
I supppose this should be enough to make you want to know more or stay away...
Title: "Bitcoin for consumers today | Paul Hickey | TEDxCincinnati" (2015 1BTC=$270)

But you might think it can worth the time to understand the ideology of decentralization, mathemathic truth, as well as a good set of Q&A by Andreas Antonopoulos:
Title: "An Introduction to Bitcoin" (37min, sept 2016 1BTC=$630)

After those two, you might want a deeper understanding of how central banks' and governments' monetary systems work and why it could be clever to save a bit in "Gold 2.0":
Title: "Bitcoin Documentary by Discovery Channel" (27min, june 2017, 1BTC=$2'740)


The only thing I could regret in my 4 years Bitcoin experience, is to Not have simply kept the 1st batch of units I did buy...
I was playing arbitrage in and out in a safe way with an amount I did prefer not to lose.
Cashed my seed and profit in fiat, but kept just a little bit of BTC which is still pure growing profit.
I would personnaly buy more if I had liquidities but this is not a financial advise, my only advise is Study the Basics before any Decision !

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Thaijack2014 Senior Member

Thaijack2014

Posted
Posted
1 hour ago, tinom said:

Good serie of comments!

 

Recommendation #1: Don't spend money on anything you don't understand the reason/value/use/need!

Recommendation #2: Get at least basically informed, we speak about the "Internet of Money" and Internet did change the world, expect the same here! (see some youtube suggestions below)

Recommendation #3: I have seen many times is "Put up to 10% of your savings/investments in Bitcoin but not more than you could afford to loose, then forget about it for 5 years...
(You could as well empty small coins from your pockets into a jar, and once a week or month, buy this value of BTC...)

To newbies, if Bitcoin hitches you in a positive or negative way, I would suggest to spend 10 minutes in an easy to understand intro in which the orator's daughter comes in to simplify what her father explains.
I supppose this should be enough to make you want to know more or stay away...
Title: "Bitcoin for consumers today | Paul Hickey | TEDxCincinnati" (2015 1BTC=$270)

But you might think it can worth the time to understand the ideology of decentralization, mathemathic truth, as well as a good set of Q&A by Andreas Antonopoulos:
Title: "An Introduction to Bitcoin" (37min, sept 2016 1BTC=$630)

After those two, you might want a deeper understanding of how central banks' and governments' monetary systems work and why it could be clever to save a bit in "Gold 2.0":
Title: "Bitcoin Documentary by Discovery Channel" (27min, june 2017, 1BTC=$2'740)


The only thing I could regret in my 4 years Bitcoin experience, is to Not have simply kept the 1st batch of units I did buy...
I was playing arbitrage in and out in a safe way with an amount I did prefer not to lose.
Cashed my seed and profit in fiat, but kept just a little bit of BTC which is still pure growing profit.
I would personnaly buy more if I had liquidities but this is not a financial advise, my only advise is Study the Basics before any Decision !

I couldn't agree more with you! Wise Words!

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worgeordie Diamond Member

worgeordie

Posted
Posted

So I am a Luddite,in many ways,so can you tell me simply how Bitcoin works.

Can you hold one in your hand ?

When you buy something with Bitcoin,say for 200 US, how do you get change ,as a Bitcoin is worth 7000 US  +

Something that seems to come out of thin air,with nothing backing it,like FIAT money I suppose,but is no one

worried this could turn into a South Sea Bubble, or the Dutch Tulip bulb scam,or more modern one ENRON ?,

over the years there have been so many,a lot of people seem to be very enthusiastic about Bitcoin,are they

just talking it up as they are invested heavily in it.

 

Maybe if I was a lot younger ,I might dip my toe in,but at my age if i lost what I have it would be nearly impossible

to recoup what i had lost,unless I won the  Euromillions lottery,but no chance in that as i am not lucky and never

buy lottery tickets.

 

regards Worgeordie

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Thaijack2014 Senior Member

Thaijack2014

Posted
Posted
On 12-11-2017 at 4:47 PM, worgeordie said:

So I am a Luddite,in many ways,so can you tell me simply how Bitcoin works.

Can you hold one in your hand ?

When you buy something with Bitcoin,say for 200 US, how do you get change ,as a Bitcoin is worth 7000 US  +

Something that seems to come out of thin air,with nothing backing it,like FIAT money I suppose,but is no one

worried this could turn into a South Sea Bubble, or the Dutch Tulip bulb scam,or more modern one ENRON ?,

over the years there have been so many,a lot of people seem to be very enthusiastic about Bitcoin,are they

just talking it up as they are invested heavily in it.

 

Maybe if I was a lot younger ,I might dip my toe in,but at my age if i lost what I have it would be nearly impossible

to recoup what i had lost,unless I won the  Euromillions lottery,but no chance in that as i am not lucky and never

buy lottery tickets.

 

regards Worgeordie

Well, it is easy. Say you have in your BTC wallet around 1000 Dollar or whatever... ok? You need to pay something worth 200 US, so at the moment I'm writing, you need to send  0.0306 BTC. That's it. Normally there is a time limit, because the Bitcoin is still in its infant shoes and therefore volatile. With the companies I pay in Bitcoin, there is around 10 minutes and with the bitcoin platform where I buy and sell bitcoin in Thailand, they give you an hour to buy or sell bitcoin with money from your bank account.

The way I do it is simple: if I need to pay in Bitcoin, I buy bitcoin, which I have within an hour, send my bitcoin and that's it. I usually don't use the Bitcoin I have in my wallet, because I'm saving as much as I can, since the value is going more up then down.

With this bitcoin I can pay a company that accepts bitcoin in any place in the world. I don't need to send money through paypal or money transfer, I don't pay enormous banking fees or creditcard fees. Payment with bitcoin, though not instant any more, is still pretty fast. Faster then any bank with international payments.

 

And please, wake up: the Dollar and the Euro is backed up by NOTHING but a promise from a corrupt banking system and from a likewise corrupt government, who are printing money as they see fit and inflate the fiat money at a slow but steady rate. There is no gold behind it, but mountains of debt. Our economy and I mean the world economy is based upon dept and promises which can't be kept.

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cookai Rookie Member

cookai

Posted
Posted

Just want to share this walk thru article on how to buy / sell Ethereum in Thailand with a bank transfer or deposit.   For those looking for a hassle free way to get a start in cryptocoin, this is about the easiest out there.  Once of you have ETH, you can easily convert to Bitcoin or many others. And of course you can move it to your home exchange if you're looking to move money from one country to another. 

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Thaijack2014 Senior Member

Thaijack2014

Posted
Posted
1 hour ago, cookai said:

Just want to share this walk thru article on how to buy / sell Ethereum in Thailand with a bank transfer or deposit.   For those looking for a hassle free way to get a start in cryptocoin, this is about the easiest out there.  Once of you have ETH, you can easily convert to Bitcoin or many others. And of course you can move it to your home exchange if you're looking to move money from one country to another. 

Thanks! I'm gonna look into it. Digital Currency.... it there, governments and central banks want to stop it. They bring false news into the media, disencouraging people to use it, but it is here to stay and it is just the beginning!!!

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neo555 Newbie

neo555

Posted
Posted
On 7/17/2018 at 3:43 PM, Allen Smith said:

Well, I am very new here and learning from this discussion. Hope I collect a lot of information and soon invest as I am very keen to do so.

I hope you took the time and read thru this thread, there are bundles of good thoughts on the up and downsides, some exaggerations and some pro and cons on mining and electricity. In Cryptocurrency there are the same rules as there are in business. Not all what shines is Gold. On  https://hx8800.com/wealth_creation_bitcoins.html is illustrated what advantages, different kind of views, like investors and if some information about BTC not as valuable as many people would like. ? 

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neo555 Newbie

neo555

Posted
Posted
54 minutes ago, icofriend said:

I am looking for interesting news about cryptocurrency here. Which sources are the best for you at the moment?

 

Use common sense. All Coins have promotors, if a coin or a company has to do give aways to become popular ask yourself how they are going to sustain themselves without tapping into the users wallets? At least 30% of the coins on the market are worthless, many of those are created to make a quick grab. Here, on Quora, Steemit twitter, there are a lot of places where you get information. Question is which is legit. Up to you to verify, its your money.  

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238917_1469957665 Newbie

238917_1469957665

Posted
Posted

I wonder about Bitcoin in Thailand. Is it legal to trade service etc. as private or a company sell hotel rooms if owner. Not shure about the law as it is now. ?

As I read banks and others not allowed to make trade only.

I also read they start to consitter trade licenses but only the “big ones” get ones I believe.

It could be a god service in tourists areas if there was Bitcoin ATM teller.

Right now there are only one Bitcoin “selling only” ATM in North Thailand.

Any here can tell how it’s going with the legal stuff. ?

I cons titter to sell hotel rooms and setup a ATM if came legal.

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Scottjouro Rookie Member

Scottjouro

Posted
Posted
On 10/10/2018 at 12:41 PM, 238917_1469957665 said:

I wonder about Bitcoin in Thailand. Is it legal to trade service etc. as private or a company sell hotel rooms if owner. Not shure about the law as it is now. ?

As I read banks and others not allowed to make trade only.

I also read they start to consitter trade licenses but only the “big ones” get ones I believe.

It could be a god service in tourists areas if there was Bitcoin ATM teller.

Right now there are only one Bitcoin “selling only” ATM in North Thailand.

Any here can tell how it’s going with the legal stuff. ?

I cons titter to sell hotel rooms and setup a ATM if came legal.

The are  7 cryptos which are fully legal in Thailand...and exchanges must be registered, the Thai laws are some of the most progressive on cryptos in the world...only dip side is the 15% capital gains tax lol

 

https://news.bitcoin.com/thailand-crypto-regulations-legalizing-cryptocurrencies/

 

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neo555 Newbie

neo555

Posted
Posted
On 10/20/2018 at 2:26 PM, Scottjouro said:

The are  7 cryptos which are fully legal in Thailand...and exchanges must be registered, the Thai laws are some of the most progressive on cryptos in the world...only dip side is the 15% capital gains tax lol

 

https://news.bitcoin.com/thailand-crypto-regulations-legalizing-cryptocurrencies/

 

Nice one and smart. Plus a nice input for the state. 

Unfortunately they let out the names of those token which where admitted  

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Scottjouro Rookie Member

Scottjouro

Posted
Posted
37 minutes ago, neo555 said:

Nice one and smart. Plus a nice input for the state. 

Unfortunately they let out the names of those token which where admitted  

And thats a bad thing why ?

 

Connecting the dots here but.... SCB/Ripple multi-hop technology ( world first) favourable and clear  Thai regulation on crypto,,,XRP one of the chosen ?

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neo555 Newbie

neo555

Posted
Posted
17 hours ago, Scottjouro said:

And thats a bad thing why ?

 

Connecting the dots here but.... SCB/Ripple multi-hop technology ( world first) favourable and clear  Thai regulation on crypto,,,XRP one of the chosen ?

Well it is not a good thing to let Information out when being a good journalist. Also it takes some seriousness out of the article wouldn't you agree? 

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Scottjouro Rookie Member

Scottjouro

Posted
Posted
8 hours ago, neo555 said:

Well it is not a good thing to let Information out when being a good journalist. Also it takes some seriousness out of the article wouldn't you agree? 

I think what needs to be understood, the vast majority of these articles are not bring written by professional journalist, and for many of them very obvious English is not their first language, given some of words, terms and phrases used...

 

there are also many pieces being republished under various names which are copy and paste of other pieces which present the same FUD, rumours and speculation

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neo555 Newbie

neo555

Posted
Posted
On 10/24/2018 at 4:43 AM, Scottjouro said:

I think what needs to be understood, the vast majority of these articles are not bring written by professional journalist, and for many of them very obvious English is not their first language, given some of words, terms and phrases used...

 

there are also many pieces being republished under various names which are copy and paste of other pieces which present the same FUD, rumours and speculation

Sure that is actually why I don't take those "news" as news worthy. We need to filter out FUD and rumors, not good for the movement- 

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Scottjouro Rookie Member

Scottjouro

Posted
Posted
11 hours ago, neo555 said:

Sure that is actually why I don't take those "news" as news worthy. We need to filter out FUD and rumors, not good for the movement- 

Exactly, i will give you an example...reading a piece about the relationship between the whitehouse and XRP/Ripple and the "writer" put the following "Ripples stock price increased 100%"

 

1. Ripple is not a listed company therefore no "stock price" to increase 100%

2. The writer was obviously referring to the XRP price reversal over a short period of time and yes it went up 100%

 

The writer obviously didnt know her subject or what she was writing about 

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wombat Platinum Member

wombat

Posted
Posted
6 hours ago, DingDongLing said:

where is everyone now

i don't know.
is there a gold shop in Thailand that will exchange crypto for gold ?
that to me is where i need to see acceptance.

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tinom Explorer Member

tinom

Posted
Posted
13 hours ago, wombat said:

i don't know.
is there a gold shop in Thailand that will exchange crypto for gold ?
that to me is where i need to see acceptance.

Just look here for adoption and remember many places which accept bitcoin did not register their place on this map.
https://coinmap.org/#/world/14.47723421/102.82104492/6
On my side, being swiss living in Cambodia (running Auberge du Soleil in Kampot where I welcome Cryptos with 10% discount), I "support" my Thai gf living in Isaan by sending BTC to her coins.co.th account and she can withdraw to her bank account in less than 6 hours for 8THB fee...
Much cheaper and faster than to wire from my swiss bank or khmer bank, as well BTC going up, it costs me less CHF or USD for the same THB amount.
Bitrefill.com sells vouncher for just about anything you can need.
Adoption is on the corner.

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wombat Platinum Member

wombat

Posted
Posted
On 5/22/2019 at 12:07 AM, tinom said:

Just look here for adoption and remember many places which accept bitcoin did not register their place on this map.
https://coinmap.org/#/world/14.47723421/102.82104492/6
On my side, being swiss living in Cambodia (running Auberge du Soleil in Kampot where I welcome Cryptos with 10% discount), I "support" my Thai gf living in Isaan by sending BTC to her coins.co.th account and she can withdraw to her bank account in less than 6 hours for 8THB fee...
Much cheaper and faster than to wire from my swiss bank or khmer bank, as well BTC going up, it costs me less CHF or USD for the same THB amount.
Bitrefill.com sells vouncher for just about anything you can need.
Adoption is on the corner.

so the answer to my question is no there are no gold shops in Thailand that accept crypto ?

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