Confused Newbie - page 2. | Bitcointalksearch.org

sukamasoto

legendary

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Black Panther

Quote from: dlc1962 on January 09, 2015, 12:33:05 PM

I'm newbie to bitcoins and I'm totally confused. One thing I don't understand is how do I start making bitcoins? Do I have to finance it? If so, how? Any other answers would be greatly appreciated! Huh

Ever heard about altcoin ?
Try to buy some and wait it raise into profit.

If you need some bitcoin as a fund starter, you can try to earn on faucet or get some bitcoin on your local seller

dbshck

staff

Activity: 2454

Merit: 1617

Crypto Swap Exchange

Quote from: dlc1962 on January 11, 2015, 12:14:05 PM

Where can I get a list of exchanges?

1. Complete list of Bitcoin/FIAT exchanger https://bitcoincharts.com/markets/list/
2. List of famous Bitcoin and Altcoin exchanger, ranked by daily volume http://www.cryptocoincharts.info/markets/info

Muhammed Zakir

hero member

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I prefer Zakir over Muhammed when mentioning me!

Quote from: Muhammed Zakir on January 11, 2015, 12:00:16 AM

Quote from: dlc1962 on January 10, 2015, 06:55:54 PM

It seems, to me, buying bitcoins is going to be the easiest thing to do. Can anyone give me average prices of bitcoins?

Price will vary from exchange to exchange. Current average BTC price in Bitstamp : $280.00 . You can find some of the good exchanges here. Try to find reviews in Bitcointalk and in websites before going for it.

~~MZ~~

dlc1962

newbie

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Where can I get a list of exchanges?

gkv9

legendary

Activity: 1246

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!!! RiSe aBovE ThE StoRm !!!

Quote from: dlc1962 on January 11, 2015, 10:22:37 AM

That's the reason I'm asking. So I can more about this and what to do.

Read the below mentioned quote carefully, which was posted by Grand Voyageur, they made it understand in a very interesting manner, and I forgot to mention about the fees, but yes, you can still earn some profit if you set a goal like at what rate for the coins to be sold must be somewhat higher than the previous exchange's price... You can find a list of different exchanges where you can buy/sell BTC with 0 fees, and I think Huobi is the one currently offering 0 fee trading... So, either you may buy there or sell there comparing it's BTC/USD price with any other exchange you prefer.

Quote from: Grand_Voyageur on January 11, 2015, 10:07:31 AM

Arbitrage trading happens between different exchanges to sips on price differentials. In cryptocurrencies world this is hampered by the hefty withdrawal fees you have to pay to exchanges as well by transaction times.
If you do it on the same Exchange it is just a normal intra-day trade not arbitrage trading.

dlc1962

newbie

Activity: 56

Merit: 0

That's the reason I'm asking. So I can more about this and what to do.

gkv9

legendary

Activity: 1246

Merit: 1000

!!! RiSe aBovE ThE StoRm !!!

Quote from: Grand_Voyageur on January 11, 2015, 10:07:31 AM

Arbitrage trading happens between different exchanges to sips on price differentials. In cryptocurrencies world this is hampered by the hefty withdrawal fees you have to pay to exchanges as well by transaction times.
If you do it on the same Exchange it is just a normal intra-day trade not arbitrage trading.

Yes, I know, and that's why in my example only I gave higher amounts but forgot to mention about different exchanges thing which was the most important... Apologies for the same...

Quote from: dlc1962 on January 11, 2015, 10:06:09 AM

Why do you think that would be best for me?

If you know how and when to trade this, as if you would have traded stocks ever, it would be more profitable than to gamble and lose them all...

Grand_Voyageur

sr. member

Activity: 322

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https://dadice.com | Click my signature to join!

Quote from: gkv9 on January 11, 2015, 09:55:48 AM

Quote from: dlc1962 on January 11, 2015, 09:48:16 AM

What is arbitrage trading?

Arbitrage is an opportunity where you can buy BTC lower at dips (which you feel is the best downside price and it won't go more dumped than this based on various indicators), and then sell higher at whatever price you decide as your goal...

Suppose, you bought 1 BTC at $280 as you think it won't go much down, and afterwards it reaches $308 and you sell at the same, you make 10% profit, which means your BTC is worth 1.1 BTC if it was to be at the previous rate $280...

Arbitrage trading happens between different exchanges to sips on price differentials. In cryptocurrencies world this is hampered by the hefty withdrawal fees you have to pay to exchanges as well by transaction times.
If you do it on the same Exchange it is just a normal intra-day trade not arbitrage trading.

Quote from: dlc1962 on January 11, 2015, 10:06:09 AM

Why do you think that would be best for me?

If you're asking a question like this You're not ready yet to engage in trading, and in arbitrage in particular. I suggest you to start with a Signature campaign open to your rank - see here - to start earning some BTC then when you have some you could start experiencing with trading on exchanges.

dlc1962

newbie

Activity: 56

Merit: 0

Why do you think that would be best for me?

gkv9

legendary

Activity: 1246

Merit: 1000

!!! RiSe aBovE ThE StoRm !!!

Quote from: dlc1962 on January 11, 2015, 09:48:16 AM

What is arbitrage trading?

Arbitrage is an opportunity where you can buy BTC lower at dips (which you feel is the best downside price and it won't go more dumped than this based on various indicators), and then sell higher at whatever price you decide as your goal...

Suppose, you bought 1 BTC at $280 as you think it won't go much down, and afterwards it reaches $308 and you sell at the same, you make 10% profit, which means your BTC is worth 1.1 BTC if it was to be at the previous rate $280...

maku

legendary

Activity: 1288

Merit: 1000

Quote from: dlc1962 on January 11, 2015, 09:48:16 AM

What is arbitrage trading?

You can learn more about arbitrage trading from that link.

DEFINITION OF 'ARBITRAGE'
The simultaneous purchase and sale of an asset in order to profit from a difference in the price. It is a trade that profits by exploiting price differences of identical or similar financial instruments, on different markets or in different forms. Arbitrage exists as a result of market inefficiencies; it provides a mechanism to ensure prices do not deviate substantially from fair value for long periods of time.

http://www.investopedia.com/terms/a/arbitrage.asp

dlc1962

newbie

Activity: 56

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What is arbitrage trading?

gkv9

legendary

Activity: 1246

Merit: 1000

!!! RiSe aBovE ThE StoRm !!!

I feel arbitrage trading may be useful for you as it's been useful for most beginners who don't understand BTC a lot but do have a good experience of buying at dips and selling at peaks...

heskey

sr. member

Activity: 406

Merit: 250

Quote from: dlc1962 on January 10, 2015, 06:55:54 PM

It seems, to me, buying bitcoins is going to be the easiest thing to do. Can anyone give me average prices of bitcoins?

A nice website tool that you can use to find the average price of bitcoins in any amount is http://preev.com. You can also choose your currency.

Muhammed Zakir

hero member

Activity: 560

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I prefer Zakir over Muhammed when mentioning me!

Quote from: dlc1962 on January 10, 2015, 06:55:54 PM

It seems, to me, buying bitcoins is going to be the easiest thing to do. Can anyone give me average prices of bitcoins?

Price will vary from exchange to exchange. Current average BTC price in Bitstamp : $280.00 . You can find some of the good exchanges here. Try to find reviews in Bitcointalk and in websites before going for it.

~~MZ~~

dlc1962

newbie

Activity: 56

Merit: 0

It seems, to me, buying bitcoins is going to be the easiest thing to do. Can anyone give me average prices of bitcoins?

sethminer14

member

Activity: 98

Merit: 10

Unless you wanna buy so Bitcoin Asics (which are gonna cost you) I would suggest buying some online.

Grand_Voyageur

sr. member

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https://dadice.com | Click my signature to join!

Quote from: dlc1962 on January 10, 2015, 11:18:37 AM

How do I setup a signature campaign?

A good place to start is this thread: ===>>> https://bitcointalksearch.org/topic/overview-of-bitcointalk-signature-ad-campaigns-last-update-01-jan-23-615953

You need to pick a campaign who's ready to accept users of your rank, then read its rules, post your application & put the required signature ad, then start posting in a constructive manner (no spam/no inconstistent posting) and abiding to forum rules (read it before!).

Welsh

staff

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Quote from: Muhammed Zakir on January 10, 2015, 12:14:35 PM

The search in the forum isn't good, try Google with parameter site:bitcointalk.org. For example, to search about signature campaigns, signature campaigns site:bitcointalk.org.

Of course, I use this when the search function of this forum doesn't pick up what I want to find, although it is pretty accurate if your know what category the post you are looking for is in. If searching from the landing page of this forum then things can get a little messy. I've always found the search function to be fairly accurate if you know what you are looking for. I've moderated a few SMF forums and would say that a lot of people have had difficulty and I can understand why.

Google is always preferred obviously.

Muhammed Zakir

hero member

Activity: 560

Merit: 509

I prefer Zakir over Muhammed when mentioning me!

Quote from: Welsh on January 10, 2015, 12:10:02 PM

Quote from: dlc1962 on January 10, 2015, 12:04:34 PM

How do I become a member or full member? Keep posting?

The information is all here: https://bitcointalksearch.org/topic/forum-rankspositionsbadges-what-do-those-shiny-coins-under-my-name-mean-178608

Whenever, unsure of something you can either use the search function located in the top right, or check for recently threads in the suitable category.

The search in the forum isn't good, try Google with parameter site:bitcointalk.org. For example, to search about signature campaigns, signature campaigns site:bitcointalk.org.

~~MZ~~

Topic: Confused Newbie - page 2. (Read 2891 times)