Newbie DO'S and DONT'S? | Bitcointalksearch.org

51percemt

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Quote from: harlenadler on August 05, 2014, 01:27:17 PM

Quote from: elliwilli on August 05, 2014, 12:41:27 PM

If something looks too good to be true, 99.9% of the time it is.
Don't trust anything on TOR

What do you mean by "Don't trust anything on TOR"? Huh

Anyone selling something on TOR is almost certainly trying to scam you. Even if the site is on the hidden wikki, it is likely a scam if they are asking for payment.

There are very few exceptions to this, but even these are laden with scams and usually involve something illegal.

counter

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Time is on our side, yes it is!

Please I beg of you atleast attempt to read in a thread and find the answer to your question before asking a person could have just asked the same question not long before you. It leads to clutter in the thread and lowers the quality of the discussion taking place in my opinion. Not saying don't ask questions just try to make the effort to finding the answer. Wink

harlenadler

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Agent of Chaos

Quote from: elliwilli on August 05, 2014, 12:41:27 PM

If something looks too good to be true, 99.9% of the time it is.
Don't trust anything on TOR

What do you mean by "Don't trust anything on TOR"? Huh

Brewins

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Play with altcoin trading is harder than win money with gambling, so apply same or harder rules to altcoin trading as to gambling

elliwilli

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et rich or die tryi

If something looks too good to be true, 99.9% of the time it is.
Don't trust anything on TOR

bigreddmachine

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Quote from: bengtåke on August 02, 2014, 04:13:24 PM

Just off the top of my head (some of them were probably mentioned already)

Don't use online wallets (if you don't own the private keys you don't own the coins)
Don't trust anyone (including me!)
Never use exchanges as a wallet, try to only store small amounts or only store them when you want to actually trade!
Don't invest in altcoin IPOs. No, just don't. A few of them are legit (like 0.001%), but in most cases you're basically giving money away
Don't invest more than you can afford to lose
Always do your due diligence with software released on these boards (research before investing/running it)
Avoid closed-source software
Never ever send anyone your private keys, for any reason (doh!)
If you use someone's software here, say thanks. it won't hurt you

I would add that as bitcoin develops, the first point is likely less of an issue. Companies like Coinbase, Blockchain.info, and others are building with the idea of a regulated industry coming where they will be liable to customers. While folks may not like the regulation that may or may not come, that does mean that these more reputable services will be able to be more and more trusted for new users who aren't ready to get their own wallet.

EDIT: I would be much more hesitant when it comes to altcoins however.

DeboraMeeks

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Join a service section signature campaign and youll earn around 0.05 to 1+btc a month if you rank up to a member

silvestar

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Quote from: bengtåke on August 02, 2014, 04:13:24 PM

Just off the top of my head (some of them were probably mentioned already)

Don't use online wallets (if you don't own the private keys you don't own the coins)
Don't trust anyone (including me!)
Never use exchanges as a wallet, try to only store small amounts or only store them when you want to actually trade!
Don't invest in altcoin IPOs. No, just don't. A few of them are legit (like 0.001%), but in most cases you're basically giving money away
Don't invest more than you can afford to lose
Always do your due diligence with software released on these boards (research before investing/running it)
Avoid closed-source software
Never ever send anyone your private keys, for any reason (doh!)
If you use someone's software here, say thanks. it won't hurt you

Very well said.

Also, while closed source software are bad, it doesn't mean open source software are definitely good.
You should check the codes, or at least check others' reviews and feedback before downloading and using them.

kingaltcoins

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Quote from: ?? on ??

Quote from: Newbiemon on July 01, 2014, 08:05:39 AM

Newbie here in the forum, i just want to know what to do and not to do, and some tips to earn BTC

Thank you! Cheesy

Do save your btc.

Don't gamble.
Don't get scammed.

about earning btc, umm i make mine by trading because im really good at it.
remember when you trade that there are pro traders who trade better than you and win your money from you. so dont use all of your money in trading, and be prepared to lose all of your investment(so only use a little if you are gonna trade).
trade using technical analysis or you will lose most of the time if you dont.

+1
dont use all of your money in trading ...Best advice here

Possum577

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Loose lips sink sigs!

Don't forget to read the sticky thread at the top of the list titled "Newbie ReadMe"...you can find it here -> https://bitcointalksearch.org/topic/newbie-readme-177133

harlenadler

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Agent of Chaos

Quote from: CounterStrike on August 03, 2014, 10:12:57 PM

Don't sell your BTC and don't keep any alt-coin..

Don't keep any alt-coin? Well go get your 7000 free Stellar and sell it to me then. Probably just centralized crap, but maybe good for a pump down the road....hopefully.... Cheesy

CounterStrike

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Don't sell your BTC and don't keep any alt-coin..

hyperdimension

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Under any means, do not panic sell.

btcguys

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Quote from: lynn_402 on August 03, 2014, 08:44:41 AM

Quote from: btcguys on August 03, 2014, 01:58:20 AM

Quote from: nwfella on August 03, 2014, 12:13:04 AM

1.) Store your bitcoins locally unless cashing out or making some sort of quick trade. Exchanges are notorious for being 'hacked' or going down for one reason or another basically losing everybody's coins. MintPal and Viacoin a perfect recent example.

2.) Don't invest in mining equipment and expect to make your money back +some, it won't happen

3.) Don't trust anybody in this forum without researching them for yourself.

4.) Don't invest in cloud-hashing mining operations...ever!

5.) Don't panic if the day after you purchase your bitcoin it drops by 12%, if your purchasing bitcoin with the expectation of earning something more than you put into it more than likely you will have to hold your coin for at least 12-18 months at this point imho given all the crap regarding BitLicense in NY. If this actually passes in it's present form I actually expect to see bitcoin prices suffer for at least the next year or so before the rest of the world picks up the proverbial slack.

Hope you find these tips useful. Welcome to the fascinating world of crypto-currencies!

I expect prices to skyrocket after NY BitLicense as Bitcoin could become mainstream and may even be allowed on wallstreet! so it could go both ways i guess..time will tell

Isn't Bitcoin a tool to become free from the control of the Wall Street elite and the government? It seems silly to be happy that they'll get into Bitcoin.

They will try to control it. but can they control is another question. I don't think it is possible to regulate all the bitcoins in circulation expect for few exchanges based in NY that will comply with NY laws..

Mobius

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Quote from: lynn_402 on August 03, 2014, 08:44:41 AM

Quote from: btcguys on August 03, 2014, 01:58:20 AM

Quote from: nwfella on August 03, 2014, 12:13:04 AM

1.) Store your bitcoins locally unless cashing out or making some sort of quick trade. Exchanges are notorious for being 'hacked' or going down for one reason or another basically losing everybody's coins. MintPal and Viacoin a perfect recent example.

2.) Don't invest in mining equipment and expect to make your money back +some, it won't happen

3.) Don't trust anybody in this forum without researching them for yourself.

4.) Don't invest in cloud-hashing mining operations...ever!

5.) Don't panic if the day after you purchase your bitcoin it drops by 12%, if your purchasing bitcoin with the expectation of earning something more than you put into it more than likely you will have to hold your coin for at least 12-18 months at this point imho given all the crap regarding BitLicense in NY. If this actually passes in it's present form I actually expect to see bitcoin prices suffer for at least the next year or so before the rest of the world picks up the proverbial slack.

Hope you find these tips useful. Welcome to the fascinating world of crypto-currencies!

I expect prices to skyrocket after NY BitLicense as Bitcoin could become mainstream and may even be allowed on wallstreet! so it could go both ways i guess..time will tell

Isn't Bitcoin a tool to become free from the control of the Wall Street elite and the government? It seems silly to be happy that they'll get into Bitcoin.

Bitcoin is a trust-less peer to peer payment method. It is so you do not need to trust any third party with your money, while allowing it to be reasonably expect that the same unit cannot be spent twice (no double spends).

Gugun Blues Shelter

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Quote from: lynn_402 on August 03, 2014, 08:44:41 AM

Quote from: btcguys on August 03, 2014, 01:58:20 AM

Quote from: nwfella on August 03, 2014, 12:13:04 AM

1.) Store your bitcoins locally unless cashing out or making some sort of quick trade. Exchanges are notorious for being 'hacked' or going down for one reason or another basically losing everybody's coins. MintPal and Viacoin a perfect recent example.

2.) Don't invest in mining equipment and expect to make your money back +some, it won't happen

3.) Don't trust anybody in this forum without researching them for yourself.

4.) Don't invest in cloud-hashing mining operations...ever!

5.) Don't panic if the day after you purchase your bitcoin it drops by 12%, if your purchasing bitcoin with the expectation of earning something more than you put into it more than likely you will have to hold your coin for at least 12-18 months at this point imho given all the crap regarding BitLicense in NY. If this actually passes in it's present form I actually expect to see bitcoin prices suffer for at least the next year or so before the rest of the world picks up the proverbial slack.

Hope you find these tips useful. Welcome to the fascinating world of crypto-currencies!

I expect prices to skyrocket after NY BitLicense as Bitcoin could become mainstream and may even be allowed on wallstreet! so it could go both ways i guess..time will tell

Isn't Bitcoin a tool to become free from the control of the Wall Street elite and the government? It seems silly to be happy that they'll get into Bitcoin.

yeah i know but a lot people to not understand to . how to secure they BTC .
all case just about fraud . hacking .

lynn_402

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Quote from: btcguys on August 03, 2014, 01:58:20 AM

Quote from: nwfella on August 03, 2014, 12:13:04 AM

1.) Store your bitcoins locally unless cashing out or making some sort of quick trade. Exchanges are notorious for being 'hacked' or going down for one reason or another basically losing everybody's coins. MintPal and Viacoin a perfect recent example.

2.) Don't invest in mining equipment and expect to make your money back +some, it won't happen

3.) Don't trust anybody in this forum without researching them for yourself.

4.) Don't invest in cloud-hashing mining operations...ever!

5.) Don't panic if the day after you purchase your bitcoin it drops by 12%, if your purchasing bitcoin with the expectation of earning something more than you put into it more than likely you will have to hold your coin for at least 12-18 months at this point imho given all the crap regarding BitLicense in NY. If this actually passes in it's present form I actually expect to see bitcoin prices suffer for at least the next year or so before the rest of the world picks up the proverbial slack.

Hope you find these tips useful. Welcome to the fascinating world of crypto-currencies!

I expect prices to skyrocket after NY BitLicense as Bitcoin could become mainstream and may even be allowed on wallstreet! so it could go both ways i guess..time will tell

Isn't Bitcoin a tool to become free from the control of the Wall Street elite and the government? It seems silly to be happy that they'll get into Bitcoin.

btcguys

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Activity: 112

Merit: 10

Quote from: nwfella on August 03, 2014, 12:13:04 AM

1.) Store your bitcoins locally unless cashing out or making some sort of quick trade. Exchanges are notorious for being 'hacked' or going down for one reason or another basically losing everybody's coins. MintPal and Viacoin a perfect recent example.

2.) Don't invest in mining equipment and expect to make your money back +some, it won't happen

3.) Don't trust anybody in this forum without researching them for yourself.

4.) Don't invest in cloud-hashing mining operations...ever!

5.) Don't panic if the day after you purchase your bitcoin it drops by 12%, if your purchasing bitcoin with the expectation of earning something more than you put into it more than likely you will have to hold your coin for at least 12-18 months at this point imho given all the crap regarding BitLicense in NY. If this actually passes in it's present form I actually expect to see bitcoin prices suffer for at least the next year or so before the rest of the world picks up the proverbial slack.

Hope you find these tips useful. Welcome to the fascinating world of crypto-currencies!

I expect prices to skyrocket after NY BitLicense as Bitcoin could become mainstream and may even be allowed on wallstreet! so it could go both ways i guess..time will tell

nwfella

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Well hello there!

1.) Store your bitcoins locally unless cashing out or making some sort of quick trade. Exchanges are notorious for being 'hacked' or going down for one reason or another basically losing everybody's coins. MintPal and Viacoin a perfect recent example.

2.) Don't invest in mining equipment and expect to make your money back +some, it won't happen

3.) Don't trust anybody in this forum without researching them for yourself.

4.) Don't invest in cloud-hashing mining operations...ever!

5.) Don't panic if the day after you purchase your bitcoin it drops by 12%, if your purchasing bitcoin with the expectation of earning something more than you put into it more than likely you will have to hold your coin for at least 12-18 months at this point imho given all the crap regarding BitLicense in NY. If this actually passes in it's present form I actually expect to see bitcoin prices suffer for at least the next year or so before the rest of the world picks up the proverbial slack.

Hope you find these tips useful. Welcome to the fascinating world of crypto-currencies!

coinsolidation

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Activity: 294

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Bitmark Developer

Quote from: bengtåke on August 02, 2014, 04:13:24 PM

Just off the top of my head (some of them were probably mentioned already)

Don't use online wallets (if you don't own the private keys you don't own the coins)
Don't trust anyone (including me!)
Never use exchanges as a wallet, try to only store small amounts or only store them when you want to actually trade!
Don't invest in altcoin IPOs. No, just don't. A few of them are legit (like 0.001%), but in most cases you're basically giving money away
Don't invest more than you can afford to lose
Always do your due diligence with software released on these boards (research before investing/running it)
Avoid closed-source software
Never ever send anyone your private keys, for any reason (doh!)
If you use someone's software here, say thanks. it won't hurt you

I would add:

Don't rush to make decisions, especially when trading or investing
If you think a currency has potential, wait a while, track the discussion, perhaps join in, maybe later invest, and maybe not at all once

Topic: Newbie DO'S and DONT'S? (Read 4486 times)