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Cryptocoin thread.

Discussion in 'General Internet Marketing' started by K, Jan 16, 2014.

  1. K

    K Administrator Administrator affiliate

    So who's invested, who plans to, who thinks its stupid


    discuss!
     
  2. monetizer
  3. successjr11

    successjr11 Affiliate affiliate

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    I've just jumped on the Bitcoins train. At least the learning aspect of it. Sleep has been optional lately. :cool:

    I found a Bitcoins E Learning company with a biz opp attached to it. It's a digital platform with a monthly fee and you get paid for referrals. It's not a buy and sell type learning per se. It's an overall keep you up to date on the entire bitcoin "industry" type learning.

    Obviously I'm new here so I'm wondering if there is a place in this forum to discuss looking for JV partners to market this on an international level.

    Your feedback would be greatly appreciated.
     
  4. Jay Wessman

    Jay Wessman Affiliate affiliate

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    Bitcoin and Dogecoin for me.

    Did you ever get round to buying those Litecoins man?
     
    1 person likes this.
  5. K

    K Administrator Administrator affiliate

    No mate, hows the dodge coin doing?
     
  6. vellex

    vellex Affiliate affiliate

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    I would buy dogecoins just because of their Shiba Inu character. :) But they also look promising and possibly a good investment. 33% have already been mined as of this post.

    I'm currently looking into using bitcoins, but only for buying, not investing.
     
  7. KSixJeremy

    KSixJeremy Moderator moderator Affiliate Manager affiliate

    I've never stepped foot into the Cryptocoin world before. Is it pretty easy to get started? Any guides out there or helpful bits of information? I am all ear.s...
     
  8. vellex

    vellex Affiliate affiliate

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    I found this post from IM Grind really helpful for understanding how Bitcoins work, but the mechanism applies to other cryptocurrencies as well.
     
  9. KSixJeremy

    KSixJeremy Moderator moderator Affiliate Manager affiliate

    Thanks a ton! Lot's of great information here, will take me some free time to read it all! I was looking to get started with Lite or Dogecoin in the beginning.
     
  10. vellex

    vellex Affiliate affiliate

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    No problem. :) For starting out with other currencies, I would recommend checking out the wikis for Litecoins and Dogecoins. Besides good info, they provide a lot of links for learning more.
     
    1 person likes this.
  11. KSixJeremy

    KSixJeremy Moderator moderator Affiliate Manager affiliate

    Great man, this is a good start. I appreciate it and all future posts from you!

    :ninja:
     
    1 person likes this.
  12. vellex

    vellex Affiliate affiliate

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    So, this thread inspired me to waste a couple of days of my life and dedicate them to researching cryptocurrency. I tried mining a few of them, but I don't recommend it if you have a laptop. Or outdated hardware on your desktop. I did manage to get 8 dogecoins though, but that's only because their blocks pay out the highest rewards.

    Anyway, I wanted to share a couple of useful resources I came across:

    List of all cryptocoins: Comprehensive list with different categories based on popularity. Good for checking if a coin has a future. Also lists exchanges and profitability sites.

    CoinChoose: If you're into mining, check if your coin is profitable. It changes throughout the day, but dogecoin and tagcoin are usually in first place.

    Mining hardware comparison: Unfortunately, I did not check this site before trying out mining. Turns out my hardware can't get a hashrate higher than 20 KH/S. To put this rate in perspective, I mined 0.001 Primecoins in 30 minutes.

    Doge for Dollars: After making peace with the fact that I will not be a famous, successful miner on the pools' leaderboards, I bought some dogecoins with dollars. The site has good reviews on Reddit and some other site (don't remember the name). Received the transaction within 30 minutes. I now feel happy knowing that I own a currency that has a Shiba Inu as their coin logo.
     
    2 people like this.
  13. KSixJeremy

    KSixJeremy Moderator moderator Affiliate Manager affiliate

    Awesome resources! Have you been putting some efforts into exchanges, or just mining at the moment?
     
  14. vellex

    vellex Affiliate affiliate

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    I focused on mining, but I did study the exchange rates a bit.

    The coins usually aren't very volatile, so their value is pretty much consistent throughout the day. That makes day trading ineffective in my opinion.

    I would say that the best exchange strategy is position trading - taking up a promising coin and holding it for long-term profits. That's why I purchased doges. They are nowhere near bitcoin or litecoin at the moment, but they have a promising future with an active community promoting the coin.
     
    1 person likes this.
  15. KSixJeremy

    KSixJeremy Moderator moderator Affiliate Manager affiliate

    Great point of view on that. Might definitely be worth holding on to a few of the cheaper coins, could get lucky !
     
  16. Jay Wessman

    Jay Wessman Affiliate affiliate

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    This is exactly what I do. I don't bother mining or day trading I just buy up coins that I think are promising and try to get them whilst they are cheap and then hold them for the long term.
     
  17. K

    K Administrator Administrator affiliate

    Where and how did you get your dogecoin?

    Have you seen eMunie? Thoughts?
     
  18. vellex

    vellex Affiliate affiliate

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    Yeah, the only guys making a serious profit in exchanges for now are the ones who still have some powerful mining stations from their early Bitcoin days. They mine alt currencies with 5-6 figure hashrates and change them for litecoins and bitcoins if they want to cash out on dollars.

    I predict doge being like this :D

    [​IMG]

    There were some claims on Bitcoin talk that it was a scam, then the owner made a rebuttal, so I really have no idea what to think about it. The owner seems like a reasonable, responsible adult given the way he responded to the accusations. I also don't buy the scam alert's disclaimer that it is not personal. I would however feel more comfortable researching eMunie in more detail before doing business with them.

    I got dogecoins on Doge for Dollars because they accept credit cards, don't require an account, and have good reviews on Trustpilot. I would also vouch for them because my transaction appeared in the wallet within 20 minutes. There is a UK version Doge Dispenser, but I couldn't use it because it requires a UK bank account.

    Vault of Satoshi now also supports some alt currencies, including dogecoin. They are one of the few exchanges between traditional and crypto that supports international customers, but they require multiple levels of verification and impose restrictions for lower levels.

    BTW K, when I upload an image from my computer, I don't see it in the post field, and I have no idea how to format it with BB code. Maybe it's Mozilla's fault, but thought you should know.
     

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    Last edited: Jan 31, 2014
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