Topic: Basics of Crypto (Read 462 times)

Sorry, what are you referring to? It sounds like you're talking about some browser-miner plugin?   



Thank you for your input!
I'm definitely not an expert, while I hopefully am correct about everything I wrote, I don't really know the 'deeper' workings, I'm sure there's many great writers out there with this information.
Aswell as there's lots of discussions and guides and informative posts on this forum about all aspects of crypto!

I have had to explain the 'basics of crypto' many times to various people so it's good to keep it in one place! 

Thanks for your writing. I learned a lot from you. Do you have Blog?

Thanks for the post, it has simplified the basics of cryptocurrency for newbies

Thank you for the useful information that you shared.For the beginner like me it will help me a lot to adden my knowledge and to be better in crypto.

there was so much information to read. not sure I can remember that all.lol

Not sure if it's fair to bump this but I thought with these many new users here asking how bitcoin works it might be worth doing? 

Yeah, that's definitely very important. I think it's really important to consider Why someone would be giving you advice? is there some referral system, do they personally gain from your (probably) modest investment - if yes, then that person wants you to invest for personal gain. if there's no benefit to the person, it's better not to share the information I guess?

Sure there are a lot of discussions about what crypto to invest in, and more established crypto's doesn't take any impact in any way from one persons investment, but considering smaller crypto's, newly started projects etc, it's likely many people that are perhaps associated with the project, would try to get you to invest.

Pretty comprehensive guide! I agree not to let others advise you too much on where to invest your money. Better off doing your own research and deciding for yourself where you're willing to invest.

Bitcoin should be able to add new functionality in the future, but currently I don't think it's as straight forward as Ethereum, Ethereum is more aimed at tokens/contracts currently(and other platforms aswell).
However, both are good investments in my opinion  

first there was decentralized currency(Bitcoin), then smartcontracts(Ethereum), then we'll see 

Someone tells me that Bitcoin doesn't have any function except a coin, Etherium is much better with smart contrast, is it right? Because I don't know which coin to start invest.

if you're looking for the moon, Bitcoin might not be the entirely best decision, in my personal opinion!

Cryptocurrency is a cryptographic protocol or complex cryptosystem used to convert sensitive data to preserve the value of exchange units. Cryptocurrency is built with mathematical cryptography and the most advanced computer engineering principles, making its structure unbreakable. Therefore, the value units of Cryptocurrency are protected from fraudulent or fraudulent forms. This protocol also conceals the transaction details of the Cryptocurrency user.

As is known paralocho, virtual currency or cryptocurrency of the most famous and valuable fantastic is Bitcoin and Ethereum. Two virtual currencies that run on the blockchain platform are said to be anti-manipulation has been traded in the stock exchange and has been accepted throughout the world as a means of exchange. Advocates of this virtual currency see that the future of the world's exchange tools is Cryptocurrency and is said to replace the Euro or USD as the world's safest and safest currency.

Having bitcoin means having ownership of shares or capital on this project. Therefore, anyone who has bitcoin is actually the investors who are investing their capital to achieve greater profits in the future. Let's say that 6 (six) years ago, investors in this area have made huge profits, let's take a look at the charts showing the prices of Bitcoin, Ethereum and all other virtual currency combinations.

Thank you for your reply!
That's actually something I forgot to mention here, and in my other thread specifically for Wallets + Crypto Safety, I will add it in there!

This is a compressed form of what every newbie need to digest if one wants to be a pro in crypto. After reading through I realized I have still a lot to learn despite all the knowledge I presume I have in crypto. But I will like to add this to your collection. Security of your wallet and wallet in general. Keeping your coins well secured should be the topmost priority of every newbie. Either one use a cold wallet or online wallet, security of of private key with google 2fa should be put in place.

Hi, thank you for your reply,
hmm sorry I'm not certain what you mean by the plagiarism? I wrote the entire post if that's what you mean,
only using my own words, so it's not copied from another source.
If you mean sources to other things, I'm not sure which ones - I'm not really making any bold statements?  
It's just the basics of crypto, the way I learned it and I've tried explained to people on various occasions on how it works,
so I made this thread to put it all in one place!  

It did take a while to write!

About commercial part, I'm not really sure as I don't personally do much trading, I prefer investing in certain crypto at times I find right and holding a period of time.
Then there's the technical analysis people, and while someone usually gets it right, 99 other people gets it wrong, so personally I'm not much for technical analysis.
I can't tell you whether any crypto is going up or down short-term, but my personal belief is that long-term, the crypto market-cap will go many times higher than today.
What do you think?

And on the note of investing in certain cryptos, I wrote a guide for analyzing ICOs, which does apply to analyzing crypto in general, if you have any tips to add to it that'd be welcome as I'm sure many people have their own various things to look at for a project! Thread is here.

I am very impressive with the posting, very comprehensive to present crypto knowledge as a whole....How long do you take your time to write that posting, mate? I just suggest you if there is some quotation from some sources, it is better to mention in your posting. Even your posting is discussed and share benefit knowledge into this forum, but your posting can be considered for plagiarism if no reference mentioned and this case is is strictly prohibited here. Many people has been banned for plagiarism accusation.

Btw, your posting talk technical part of crypto. How if you add commercial part such as price? It will add the value of your posting about crypto space.

Anyone with multiple hardware wallets, like Trezor + Ledger, which one do you prefer and why?

Coinbase isn't the best 'wallet', it's not even a wallet!
I don't understand what you want to accomplish.
I believe you'd be very safe if you got a Hardware Wallet, Trezor/Ledger.
Otherwise, check here for other ways.


As I try to make sure is clear: I don't know too much about anything,
I know Trezor is open source, I know both Trezor + Nano Ledger has had exploits,
I know Nano Ledger has one reason for why they're closed source, and it seemingly is more up to taste.
In general, I'm certain that aslong as take necessary precautions, you'll be just as safe with either one!


I agree, sure there are the click of people who does it because of what Bitcoin is, but, can't one do both?
I personally love crypto as a whole, but I wouldn't be buying crypto in it if it wasn't worth anything, that's for sure.
And I don't have enough money to completely adopt Bitcoin so I can detach from real world currency!  

Lets be true here, most of the people are here because they see an opportunity and that opportunity is to be rich as fast as they can, Bandwagon as you call it. (LOL, am I right?)