NEW to crypto and aging as well but very excited for innovation one specially an innovation to recreate the financial system (or fully ditch fiat), i hate the idea of printing money.
Topic: I just turned 40 today and want to be part in BTC Community (Beginner) - page 2. (Read 592 times)
October 21, 2019, 04:16:20 AM
NEW to crypto and aging as well but very excited for innovation one specially an innovation to recreate the financial system (or fully ditch fiat), i hate the idea of printing money.
October 21, 2019, 03:06:47 AM
40 isn't too late for you to enter crypto world. My father is still doing investing and trading at 50. As for me, as a beginner, it would be better for you to focus on Bitcoin regardless of the competition. Yes, we can compare it with gold but there are still differences especially when it comes to volatility, risks and profit. If you would want to focus on trading, try to get rid of new altcoins with non-visible potential.
October 21, 2019, 01:47:45 AM
It's my 40th birthday today and I am completely new to crypto since my country of origin is less progressive.
Anyway, I equipped my knowledge 1st before entering into something, most specially with money. I knew the basics on how the system of blockchain works and how the consensus is achieved and how the miners or stakers are rewarded. I have only one concern or doubt tho'(i guess) that why there are plenty of coins out there? I know you'll answer they have different usage like xrp/xlm for easy payment methods, steem for social media websites, eth/ada for smart contracts, etc...
If you look at current system with gold and fiat, can the crypto space be the same? Gold=BTC and FIAT=Altcoin?
My point is to remove the competition from BTC and other crypto in finding the one who dominates all, why not BTC be the Gold and Altcoins be the FIAT...
I'm so sorry for my English and if the thought is very confusing, please anyone can rephrase my question freely if you know what i mean.
NEW to crypto and aging as well but very excited for innovation one specially an innovation to recreate the financial system (or fully ditch fiat), i hate the idea of printing money.
Anyway, I equipped my knowledge 1st before entering into something, most specially with money. I knew the basics on how the system of blockchain works and how the consensus is achieved and how the miners or stakers are rewarded. I have only one concern or doubt tho'(i guess) that why there are plenty of coins out there? I know you'll answer they have different usage like xrp/xlm for easy payment methods, steem for social media websites, eth/ada for smart contracts, etc...
If you look at current system with gold and fiat, can the crypto space be the same? Gold=BTC and FIAT=Altcoin?
My point is to remove the competition from BTC and other crypto in finding the one who dominates all, why not BTC be the Gold and Altcoins be the FIAT...
I'm so sorry for my English and if the thought is very confusing, please anyone can rephrase my question freely if you know what i mean.
NEW to crypto and aging as well but very excited for innovation one specially an innovation to recreate the financial system (or fully ditch fiat), i hate the idea of printing money.
You have to read a lot, but at least you found the right place. I'll give you a hint: stick to Bitcoin and don't mess with anything else, if you decide to buy some bitcoins, make sure you get familiar with everything before investing a large sum, play with very small amounts, learn to make a wallet, an offline cold wallet, etc. Its been discussed plenty in this forum.
Also, don't pay too much attention to the price, after you buy, just sit and wait a few years, you will see how it will slowly keep gaining, because Bitcoin is deflationary (limited quantity), while the fiat coins people measure it with, are inflationary (unlimited quantity).
Keep reading, and enjoy. Remember, many people will have different opinions, and not all are correct and some may even mislead you, even here.
Try to not use the metals analogy, it is inaccurate. There is simply nothing like Bitcoin, once you learn its key features, you will understand why the market gives it such a high value.
October 20, 2019, 06:02:24 PM
If you look at current system with gold and fiat, can the crypto space be the same? Gold=BTC and FIAT=Altcoin?
My point is to remove the competition from BTC and other crypto in finding the one who dominates all, why not BTC be the Gold and Altcoins be the FIAT...
It's not quite right if we say Altcoins as FIAT. Because if Bitcoin is gold, then Altcoin can we say as silver and bronze. Altcoin comes as a complement to crypto currencies with more diverse utilities. October 20, 2019, 04:54:08 PM
It's my 40th birthday today and I am completely new to crypto since my country of origin is less progressive.
Anyway, I equipped my knowledge 1st before entering into something, most specially with money. I knew the basics on how the system of blockchain works and how the consensus is achieved and how the miners or stakers are rewarded. I have only one concern or doubt tho'(i guess) that why there are plenty of coins out there? I know you'll answer they have different usage like xrp/xlm for easy payment methods, steem for social media websites, eth/ada for smart contracts, etc...
If you look at current system with gold and fiat, can the crypto space be the same? Gold=BTC and FIAT=Altcoin?
My point is to remove the competition from BTC and other crypto in finding the one who dominates all, why not BTC be the Gold and Altcoins be the FIAT...
I'm so sorry for my English and if the thought is very confusing, please anyone can rephrase my question freely if you know what i mean.
NEW to crypto and aging as well but very excited for innovation one specially an innovation to recreate the financial system (or fully ditch fiat), i hate the idea of printing money.
Anyway, I equipped my knowledge 1st before entering into something, most specially with money. I knew the basics on how the system of blockchain works and how the consensus is achieved and how the miners or stakers are rewarded. I have only one concern or doubt tho'(i guess) that why there are plenty of coins out there? I know you'll answer they have different usage like xrp/xlm for easy payment methods, steem for social media websites, eth/ada for smart contracts, etc...
If you look at current system with gold and fiat, can the crypto space be the same? Gold=BTC and FIAT=Altcoin?
My point is to remove the competition from BTC and other crypto in finding the one who dominates all, why not BTC be the Gold and Altcoins be the FIAT...
I'm so sorry for my English and if the thought is very confusing, please anyone can rephrase my question freely if you know what i mean.
NEW to crypto and aging as well but very excited for innovation one specially an innovation to recreate the financial system (or fully ditch fiat), i hate the idea of printing money.
Gold should not be comparable to bitcoin or fiat becasue Gold is not a currency while Bitcoin /Fiat and altcoins are currency. You can buy things with bitcoins and few altcoins but not with Gold.
Since you are 40, which is not a big age though, why you have come here ? To earn the bitcoins or only to get the understanding of the eco system of the digital currency ?
October 20, 2019, 01:42:34 PM
Anyway, I equipped my knowledge 1st before entering into something, most specially with money. I knew the basics on how the system of blockchain works and how the consensus is achieved and how the miners or stakers are rewarded. I have only one concern or doubt tho'(i guess) that why there are plenty of coins out there? I know you'll answer they have different usage like xrp/xlm for easy payment methods, steem for social media websites, eth/ada for smart contracts, etc...
The simplest answer to this question is that it is possible for anyone to create coin so for personal gains everyone creating coin. Not everyone thinks for community as a whole, so they creating their own coins jeopardizing the price and repo of bitcoin.
October 20, 2019, 01:16:44 PM
First of all congratulations and happy birthday! Glad to have you here and you might have made your biggest gift to yourself. Getting into a crypto focused community is exactly what you need to grasp the intricacies of this space quickly and of course get your questions answered. Just be careful with how much money you risk if you are going to invest. Bitcoin is a brilliant masterpiece and could get really huge, but there are many factors and variables in this game that could rip your apart so better be careful than sorry.
You can make an analogy of Bitcoin & altcoins with Gold and Fiat currencies as most altcoins are garbage just like fiat currencies are garbage. But other than that most altcoins aren't backed by anything just by poor promises. Now as an advice from me to you: it doesn't matter if you invest or not, but knowledge is a powerful thing especially if cryptocurrencies are bound to become the next payment method for our society.
You can make an analogy of Bitcoin & altcoins with Gold and Fiat currencies as most altcoins are garbage just like fiat currencies are garbage. But other than that most altcoins aren't backed by anything just by poor promises. Now as an advice from me to you: it doesn't matter if you invest or not, but knowledge is a powerful thing especially if cryptocurrencies are bound to become the next payment method for our society.
October 20, 2019, 01:08:21 PM
I, personally don't really do the buy and sell thing because first of all i do not have knowledge on trading and i really can't afford to lose any small amount from my small salary right now.
In which case, you might want to have a look at dollar cost averaging. Essentially, you commit to buying x amount of bitcoin every week/fortnight/month, regardless of the price, so you get a much more averaged buy in price over time rather than trying to time the market. Even if it's just 10 bucks (or your local equivalent), everyone has to start somewhere.I'm looking for the fiat system to change, which is (i think) the root of all slavery as i realize this when i studied bitcoin and what was really the intended purpose for it.
Well then, you are in the right place. Unfortunately there are a lot of people on this forum who don't care about the reason behind bitcoin, and are only here to chase some altcoin pump-and-dump or get paid for spamming. But there are also many of us who are here because we believe in bitcoin, in its technology, and in its future, and understand why fiat is a sinking ship.And you are also right when you say that some of these altcoins have their own specific niche.
I've got to comment on the fact that you think Tron isn't a shitcoin. It has a plagiarized whitepaper, plagiarized code, no use case, and its founder and CEO (how does a "decentralized" coin have a CEO?) has been accused of money laundering. You would do well to avoid it.-snip-
This is the right track to take, OP. As I said in my previous post, stick to bitcoin. Learn all you can about it and how to use it safely and securely before even thinking about other coins. October 20, 2019, 12:56:50 PM
It's my 40th birthday today and I am completely new to crypto since my country of origin is less progressive.
Anyway, I equipped my knowledge 1st before entering into something, most specially with money. I knew the basics on how the system of blockchain works and how the consensus is achieved and how the miners or stakers are rewarded. I have only one concern or doubt tho'(i guess) that why there are plenty of coins out there? I know you'll answer they have different usage like xrp/xlm for easy payment methods, steem for social media websites, eth/ada for smart contracts, etc...
If you look at current system with gold and fiat, can the crypto space be the same? Gold=BTC and FIAT=Altcoin?
My point is to remove the competition from BTC and other crypto in finding the one who dominates all, why not BTC be the Gold and Altcoins be the FIAT...
I'm so sorry for my English and if the thought is very confusing, please anyone can rephrase my question freely if you know what i mean.
NEW to crypto and aging as well but very excited for innovation one specially an innovation to recreate the financial system (or fully ditch fiat), i hate the idea of printing money.
Anyway, I equipped my knowledge 1st before entering into something, most specially with money. I knew the basics on how the system of blockchain works and how the consensus is achieved and how the miners or stakers are rewarded. I have only one concern or doubt tho'(i guess) that why there are plenty of coins out there? I know you'll answer they have different usage like xrp/xlm for easy payment methods, steem for social media websites, eth/ada for smart contracts, etc...
If you look at current system with gold and fiat, can the crypto space be the same? Gold=BTC and FIAT=Altcoin?
My point is to remove the competition from BTC and other crypto in finding the one who dominates all, why not BTC be the Gold and Altcoins be the FIAT...
I'm so sorry for my English and if the thought is very confusing, please anyone can rephrase my question freely if you know what i mean.
NEW to crypto and aging as well but very excited for innovation one specially an innovation to recreate the financial system (or fully ditch fiat), i hate the idea of printing money.
This is my opinion about your post, I don't know if I got it correctly but correct me instead if I do not.
Gold = BTC and FIAT = Altcoin is already possible, sell your gold and you'll have your fiat, that you would invest into bitcoin and other cryptocurrency as well, and vice versa, easy as that.
If you started here years ago, it will be very helpful.
There is nothing wrong on joining the cryptocurrency world in whatever timeline you want to, OP is just 40 years old, he is still young to build his own empire and focus on making profits in cryptocurrency.
Thus, joining in cryptoworld today would be hard due to the inconsistency of the price of all coins. Aside from that, other coins are falling too.
Well, that is nothing new to the market, since then, we are experiencing fluctuations too, bear market and bullish market, the inconsistency that you were saying is because of their nature (volatility), there is nothing to be scared of. The more bigger we get (market), the more we are going to notice how scary it is on surviving on this world.
October 20, 2019, 11:59:40 AM
It's my 40th birthday today and I am completely new to crypto since my country of origin is less progressive.
Anyway, I equipped my knowledge 1st before entering into something, most specially with money. I knew the basics on how the system of blockchain works and how the consensus is achieved and how the miners or stakers are rewarded. I have only one concern or doubt tho'(i guess) that why there are plenty of coins out there? I know you'll answer they have different usage like xrp/xlm for easy payment methods, steem for social media websites, eth/ada for smart contracts, etc...
If you look at current system with gold and fiat, can the crypto space be the same? Gold=BTC and FIAT=Altcoin?
My point is to remove the competition from BTC and other crypto in finding the one who dominates all, why not BTC be the Gold and Altcoins be the FIAT...
I'm so sorry for my English and if the thought is very confusing, please anyone can rephrase my question freely if you know what i mean.
NEW to crypto and aging as well but very excited for innovation one specially an innovation to recreate the financial system (or fully ditch fiat), i hate the idea of printing money.
Anyway, I equipped my knowledge 1st before entering into something, most specially with money. I knew the basics on how the system of blockchain works and how the consensus is achieved and how the miners or stakers are rewarded. I have only one concern or doubt tho'(i guess) that why there are plenty of coins out there? I know you'll answer they have different usage like xrp/xlm for easy payment methods, steem for social media websites, eth/ada for smart contracts, etc...
If you look at current system with gold and fiat, can the crypto space be the same? Gold=BTC and FIAT=Altcoin?
My point is to remove the competition from BTC and other crypto in finding the one who dominates all, why not BTC be the Gold and Altcoins be the FIAT...
I'm so sorry for my English and if the thought is very confusing, please anyone can rephrase my question freely if you know what i mean.
NEW to crypto and aging as well but very excited for innovation one specially an innovation to recreate the financial system (or fully ditch fiat), i hate the idea of printing money.
Gold should not be comparable to bitcoin or fiat becasue Gold is not a currency while Bitcoin /Fiat and altcoins are currency. You can buy things with bitcoins and few altcoins but not with Gold.
Since you are 40, which is not a big age though, why you have come here ? To earn the bitcoins or only to get the understanding of the eco system of the digital currency ?
October 20, 2019, 11:42:49 AM
since you are new to this world then my advice would be to stay away from altcoins for now. just stick to bitcoin, learn how it works, which wallet suites you best, how to secure your coins, learn the basic concepts such as private keys/cold storage/blockchain/confirmation,... you'll have a lot to learn and it is mandatory to know these things. (you can start from bitcoin.org)
this way you can start the right way and then you can make up your own decision whether to even touch altcoins or not.
this way you can start the right way and then you can make up your own decision whether to even touch altcoins or not.
October 20, 2019, 11:40:05 AM
Before I say happy birthday, actually we can't say bitcoin is gold and altcoin is fiat money because we know that bitcoin and other altcoins are digital currencies that can't be seen in the real world but we know that fiat and gold currencies are something the important thing that we can use in the real world for buying and selling, maybe that's why my personal opinion.
October 20, 2019, 11:36:24 AM
First of all, happy birthday and welcome aboard, you are still too young to explore things and feel free to share your knowledge here. Anyway, good luck to your journey in cryoto industry. There are lots of thread that can help you out.
Always remember, Bitcoin cannot make you rich,it is just a tool, it is still in your hands how are you going to make money with the use of it.
Always remember, Bitcoin cannot make you rich,it is just a tool, it is still in your hands how are you going to make money with the use of it.
October 20, 2019, 11:16:09 AM
Wishing you a great Birthday first of all and it's nice that older people are entering this space. Well, I am much older and will be 54 years old in January so I will be most probably one of the oldest people on this forum as most as Millennials and younger. I hope you have a prosperous journey with Bitcoin and its peripherals and this forum is the right place to get both an educated and informed overall view on the subject of Bitcoin and the Blockchain. There is a lot of scopes to cover and a lot of promise for the future. Where it all will bring us no one knows, but it's about enjoying the journey as opposed to just the destination. I hope your journey will be a pleasant one a mine wa smuch more difficult to navitate and I have experienced a lot of blunders, but I won't give up though. I think there is huge potential here for everyone to benefit from.
October 20, 2019, 11:11:06 AM
Do not ever feel old because of learning technology, it has nothing to do with age. Bitcoin was created as a currency, so
bitcoin is predicted in the future to replace fiat. For altcoin it cannot replace fiat, because of altcoins only penny stocks.
And bitcoin is more suitable to replace fiat because it is very dominant compared to other cryptocurrency. From the start,
bitcoin has a limited supply to prevent inflation, in contrast to printing money or fiat money the amount is not limited which
can cause inflation. Therefore for the future bitcoin is very suitable to replace fiat.
bitcoin is predicted in the future to replace fiat. For altcoin it cannot replace fiat, because of altcoins only penny stocks.
And bitcoin is more suitable to replace fiat because it is very dominant compared to other cryptocurrency. From the start,
bitcoin has a limited supply to prevent inflation, in contrast to printing money or fiat money the amount is not limited which
can cause inflation. Therefore for the future bitcoin is very suitable to replace fiat.
October 20, 2019, 11:04:40 AM
Just 40, do not feel aged my friend, you are still young. I am 41 but not old person. Now coming to BTC and altcoins.Its true that only few altcoins have real use, currently there is no altcoin competing BTC. BTC is still the king of crypto space but there are many new projects with new concept and their tokens are sure to exist in crypto market. It is also true and only few of those projects get successful. I think the best will survive and worst will be thrown out of the market.
October 20, 2019, 10:42:53 AM
Many newcomers in the world of cryptocurrency, so familiarize yourself and hope you can succeed in this world. It's true that altcoin has a use or concept that they created, as a form of development of blockchain technology. I do not see the competition between cryptocurrency, bitcoin and altcoin have their respective portions and communities. Now market dominance is due to halving, so most users follow market conditions where they can make a profit.
October 20, 2019, 10:22:17 AM
Happy Birthday and welcome to the crypto world, anyways, we are the ones who just make competition between bitcoin and fiat I think, but for me, they are already good as it is, bitcoin is the mother of all coins and altcoins are relying on bitcoin (in my opinion).
There is also no age requiring here in the crypto world. I think BITCOIN is equals to fiat not GOLD.
There is also no age requiring here in the crypto world. I think BITCOIN is equals to fiat not GOLD.
October 20, 2019, 09:58:59 AM
Happy Birthday and welcome to cryptocurrency. I admire how you educated your self and the idea and knowledge you have acquired about crypto as a newbie. Well, not most newbies would even dare about learning basic stuff and would just jump off on "how to earn in crypto." Well, the reason why there are over thousands of cryptocurrencies out there is that, as you have mentioned each cpin has their purpose and function, developers create different coins for deifferent and sepcific purpose. And of course some are just created for profit, only few altcoins existing today has their final product and has real function and use case. That is why as an investor it is your responsibility to dig into the project before investing.
October 20, 2019, 09:58:28 AM
Weird, I was just under 40 when I got involved in crypto and hey, I never felt I was too old to be getting interested in a new tech thing. I always have had the impression that most members of bitcointalk are in their 20’s (if not younger) and that anyone in their 30’s or older is going to be considered over the hill, but it isn’t true. You are never too old to try new things.
The only regret I have, and it isn’t a very big one, is that I didn’t actually buy bitcoin well before I did because I had been aware of its existence about a year and a half before I finally pulled the trigger on it. And op, given that bitcoin has sunk a lot since its all time high and even its last peak of $10k, now might be a great time to get in.
Don’t take that as financial advice, just enthusiasm on the part of a member who thinks bitcoin is presently undervalued. There is always the possibility that it could drop even further but I don’t think it will. Best of luck in your future endeavors, bro.
The only regret I have, and it isn’t a very big one, is that I didn’t actually buy bitcoin well before I did because I had been aware of its existence about a year and a half before I finally pulled the trigger on it. And op, given that bitcoin has sunk a lot since its all time high and even its last peak of $10k, now might be a great time to get in.
Don’t take that as financial advice, just enthusiasm on the part of a member who thinks bitcoin is presently undervalued. There is always the possibility that it could drop even further but I don’t think it will. Best of luck in your future endeavors, bro.
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