crypto for beginners

Brendio said:
Yes, the current sale is a token sale that runs for close to a year. Once that is over, holders must claims their tokens by assigning a key. Those claim addresses will then form the genesis block of the new blockchain when it is launched next year. There will be no mining or supply after that, as far as I am aware, so the only way to get a stake on the new blockchain is in the token sale.

There is of course the danger that you buy them now and forget to go through the claim process and miss out on inclusion in the new blockchain.

There are precedents of similar mechanisms of a pre-launch token on other graphene-based chains, for example, PeerPlays and Muse.
Click to expand...

EOS TOKENS HAVE NO RIGHTS, USES OR ATTRIBUTES . The EOS Tokens do not have any rights, uses, purpose, attributes , functionalities or features , express or implied, including , without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform.


Buyer should not participate in the EOS Token Distribution or purchase EOS Tokens for investment purposes. EOS Tokens are not designed for investment purposes and should not be considered as a type of investment. Within forty eight ( 48 ) hours from the end of the EOS Distribution Period, all EOS Tokens will no longer be transferable and the EOS Token Contract will prevent all further transfers and public key mappings. At this point , the distribution of EOS Tokens will be complete . Buyer acknowledges, understand s and agrees that Buyer should not expect and there is no guarantee or representation or warranty by Company that: ( a ) the 5 EOS.IO Software will ever be adopted; ( b ) the EOS.IO Software will be adopted as developed by block.one and not in a different or modified form; ( c ) a blockchain utilizing or adopting the EOS.IO Software will ever be launched; and ( d ) a blockchain will ever be launched with or without changes to the EOS.IO Software and with or without a distribution matching the fixed, non transferable EOS Token balances. Furthermore, EOS Tokens will not have any functionality or rights on the EOS Platform and holding EOS Tokens is not a guarantee, representation or warranty that the holder will be able to use the EOS Platform, or receive any tokens utilized on the EOS Platform, even if the EOS Platform is launched and the EOS.IO Software is adopted , of which there is no guarantee , representation or warranty made by Company .
Click to expand...
https://www.reddit.com/r/ethtrader/comments/6j2bkc/upcoming_1_year_uncapped_eos_ico_fine_print/
 
Brendio said:
Yes, the current sale is a token sale that runs for close to a year. Once that is over, holders must claims their tokens by assigning a key. Those claim addresses will then form the genesis block of the new blockchain when it is launched next year. There will be no mining or supply after that, as far as I am aware, so the only way to get a stake on the new blockchain is in the token sale.

There is of course the danger that you buy them now and forget to go through the claim process and miss out on inclusion in the new blockchain.

There are precedents of similar mechanisms of a pre-launch token on other graphene-based chains, for example, PeerPlays and Muse.
Click to expand...

Yes I have read that and would have to be alert for when the tokens must be claimed with is around June 2018 - worth a punt I think medium to long term given a few months back they were 70c as quoted by yourself and now knock on $4 a token
 
southerncross said:
First thing I would do is get a personal wallet such as Exodus and secure it with your private key.
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Started using exodus, it looks handy to me but bit afraid to load more BTC and ETH, i started consolidating my funds from other wallets towards exodus. May i know more an advance opinion regarding this wallet. I am beginner on this thing:), started reading all crypt coins on associated links initially on the wallet but it turns to be a nose bleed. Thank you in advance for the quick guidance.
 
What do you need to know specifically ? As long as you keep your password and private key secure security should not be a problem with exodus.
 
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If i invest in some tokens or coins and suddenly it was taken out or hidden out in the exodus wallet eg. Dogecoin which they stopped trading now, is there any possibility to lost the fund or become useless at all. Actually i was thinking to exchange my BTC to various tokens. Presently, i am only with ETH/BTC in Exodus. I want to buy some coins and leave it for some time. Either trade or sell backwards to BTC if profitable. I know, i should not leave big amount which can cripple finances incase went wrong.

Sorry for my newbie question but most of the wallet i found have many negative issue. Binance, Exodus and our local BTC wallet i am using right now.
My local BTC wallet charge high commission but it was the safest for me right now in cash-ing in/out my BTC to either Bank or ATMs.

I used RACK, Freewallet before but some of them have minor issues which i can not withdraw sometimes if i need to.
 
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I am not sure if a powerful magnet will destroy the encryption, may be someone in the field can explain better
 
JNS said:
If i invest in some tokens or coins and suddenly it was taken out or hidden out in the exodus wallet eg. Dogecoin which they stopped trading now, is there any possibility to lost the fund or become useless at all. Actually i was thinking to exchange my BTC to various tokens. Presently, i am only with ETH/BTC in Exodus. I want to buy some coins and leave it for some time. Either trade or sell backwards to BTC if profitable. I know, i should not leave big amount which can cripple finances incase went wrong.

Sorry for my newbie question but most of the wallet i found have many negative issue. Binance, Exodus and our local BTC wallet i am using right now.
My local BTC wallet charge high commission but it was the safest for me right now in cash-ing in/out my BTC to either Bank or ATMs.

I used RACK, Freewallet before but some of them have minor issues which i can not withdraw sometimes if i need to.
Click to expand...

There are plenty of wallet's available for free that you can use which are also safe to use as well, Myetherwallet, Coinomi, etc. both can hold and store many multiple Crypto's , Exodus is not your only choice.

Exchanges exist because they make money from you, this is just a fact of life and something you need to adjust to and research and prepare for. Unfortunately there is no way out of paying fee's when you enter into such realm's. It is just a cost of doing business with them just as exchanging Crypto's in Exodus.

Bitcoin cost's a huge amount to transfer or send anywhere compared to many other Crypto's, it is also high priced when using it on an exchange as well, so, maybe use LTC or ETH instead to cut cost's there instead.

Binance has minimal fees if you hold some Binance on the exchange to use for fee's, LTC and ETH are also much cheaper to use when transferring funds too, so just convert to those which are cheaper to use when doing transfers to your wallets, and then sit and hold until the cost's come down relative to what you want to hold.
BTC seem's intent on charging as much as it can, which in the end will be it's demise among'st the average user... So move on to Crypto like ETH and LTC instead when using trading platforms.

It is easy enough to time your trades up to BTC when the comparative price gap between, LTC, ETH, etc occurs. Never rush, all of these crypto's cycle through up's and downs all the time, crashes occur with great frequency, but the momentum is nearly always to the upside over time.

Give this a bit of thought.........., out of 7+ Billion people on the planet right now, you are 'one' of only about three million that are aware of or are involved in Crypto right now.
What happens when just a hundred million out of that 7 billion get on board the Crypto experiment, and why are the banks and Fiat exchanges scrambling to catch up right now ?

Learn all you can while the rest of the population is just discovering and finding out about it, get ahead of the curve, research, research and research all you can, What is Blockchain for a start ? Do you know what it is ?

Get educated about what it actually is, and what the differences are between the different Blockchain alternatives.


How does Iota differ from Ethereum, Litecion from Bitcoin, Eos from Veritasium ? Learn about all this 'BEFORE' you put a single cent into any of it first.
If you don't then you are just gambling your money away.

It only takes a little while of your time to get a grasp of it all, and then a few hours more before your mind is blown wide open by the potential of it all.

And then just a few minutes before you are ready to blow your life savings on the newest ICO or the latest hottest Crypto on Coinmarketcap.

Only to see it plummet by 200% in a week and wipe out all of your 'so called investment' .....

Shit happens, every week, time after time after time.

There are fortunes ready to be made, but people need to do their own research on it all, the whole lot from go to Woe.

At least 95% of all current crypto's will fail or be shut down by .Gov.com, Enter at your own Risk!
 
southerncross said:
There are plenty of wallet's available for free that you can use which are also safe to use as well, Myetherwallet, Coinomi, etc. both can hold and store many multiple Crypto's , Exodus is not your only choice.

Exchanges exist because they make money from you, this is just a fact of life and something you need to adjust to and research and prepare for. Unfortunately there is no way out of paying fee's when you enter into such realm's. It is just a cost of doing business with them just as exchanging Crypto's in Exodus.

Bitcoin cost's a huge amount to transfer or send anywhere compared to many other Crypto's, it is also high priced when using it on an exchange as well, so, maybe use LTC or ETH instead to cut cost's there instead.

Binance has minimal fees if you hold some Binance on the exchange to use for fee's, LTC and ETH are also much cheaper to use when transferring funds too, so just convert to those which are cheaper to use when doing transfers to your wallets, and then sit and hold until the cost's come down relative to what you want to hold.
BTC seem's intent on charging as much as it can, which in the end will be it's demise among'st the average user... So move on to Crypto like ETH and LTC instead when using trading platforms.

It is easy enough to time your trades up to BTC when the comparative price gap between, LTC, ETH, etc occurs. Never rush, all of these crypto's cycle through up's and downs all the time, crashes occur with great frequency, but the momentum is nearly always to the upside over time.

Give this a bit of thought.........., out of 7+ Billion people on the planet right now, you are 'one' of only about three million that are aware of or are involved in Crypto right now.
What happens when just a hundred million out of that 7 billion get on board the Crypto experiment, and why are the banks and Fiat exchanges scrambling to catch up right now ?

Learn all you can while the rest of the population is just discovering and finding out about it, get ahead of the curve, research, research and research all you can, What is Blockchain for a start ? Do you know what it is ?

Get educated about what it actually is, and what the differences are between the different Blockchain alternatives.


How does Iota differ from Ethereum, Litecion from Bitcoin, Eos from Veritasium ? Learn about all this 'BEFORE' you put a single cent into any of it first.
If you don't then you are just gambling your money away.

It only takes a little while of your time to get a grasp of it all, and then a few hours more before your mind is blown wide open by the potential of it all.

And then just a few minutes before you are ready to blow your life savings on the newest ICO or the latest hottest Crypto on Coinmarketcap.

Only to see it plummet by 200% in a week and wipe out all of your 'so called investment' .....

Shit happens, every week, time after time after time.

There are fortunes ready to be made, but people need to do their own research on it all, the whole lot from go to Woe.

At least 95% of all current crypto's will fail or be shut down by .Gov.com, Enter at your own Risk!
Click to expand...

Thank you for the information and motivation @southerncross, i will take them and do more research and give deeper thought.
 
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