Bitcoin 101

Bitcoin 101
*The idea of cryptocurrency is simple: Some people rent their computers running specific software to verify and record all transactions on the network (blockchain) and they get bitcoin in return instead of US dollars.
*to make it easy it works somehow like torrent files there is no server you download files directly from a network of online computers having the same file you are trying to download ( movie or music file) the file is available on their hard disk and they upload it to you using the torrent software
*Fiat is money such as US Dollars, Euro
*1 US Dollar = 100 cents
*1 Bitcoin = 100,000,000 Satoshi
*You can buy fractions of one bitcoin (You can buy 0.0001 bitcoin which is 1 US dollar worth of bitcoin you don't have to buy a whole coin)
*Bitcoin is the 1st cryptocurrency anything else called Altcoin
*There are more than 1500 coins out there some called tokens.
*tokens are projects based on blockchain.
(Ethereum is a platform you can program your own token based on it)
*ERC-20 Tokens are Ethereum based coins.
*Ethereum is the 2nd biggest cryptocurrency, consider Ethereum just like operating system (windows) you can program your new token based on it.
*Every single coin has a unique wallet.
*You can keep your coin in your private wallet or in the exchange wallet.
*Only send and receive like-coins. Meaning, you can only send/receive Bitcoin-to-Bitcoin, Litecoin-to-Litecoin, etc (you can’t for example send Bitcoin to an Ethereum wallet you will lose your money forever).
*Every coin has block explorer to watch every single transition on the blockchain (https://blockchain.info) (https://etherscan.io) you can watch your coin moving from wallet to another and how much fees you're paying (Gas).
*You have to know the symbols of coins

How to start?
1-Install Google authenticator app on your phone (Secure your accounts using Google authenticator)
Print barcodes
2-Create accounts on Exchanges:
Fiat to Bitcoin exchange
https://www.coinbase.com/join/5982198d83ace300ab0ba41b
https://www.bitstamp.net
https://www.bitfinex.com
https://cex.io
Bitcoin to Altcoins exchange
https://www.binance.com/?ref=10816918
https://www.cryptopia.co.nz/Register?referrer=abdullahmohi
https://www.kucoin.com
https://www.huobi.pro
https://bittrex.com
https://hitbtc.com
https://www.okex.com

Ethereum tokens only
https://www.myetherwallet.com **create Ethereum private wallet
https://etherdelta.com **decentralized exchange (slow and non-user-friendly)
https://idex.market **decentralized exchange (slow and non-user-friendly)

3-Install Telegram app (almost every coin has a group to share and discuss everything about that coin)
4-Install Twitter app (Follow coins accounts) use $ symbol + the coin's symbol to search for twits and news about that coin ($BTC) ($ETH) ($LTC)
5-Create new email (Never use the same password)
6-Create account on https://www.linkedin.com (helps to know more about teams and their projects)
7-Don't buy all time high (ATH) buy the dip (buy when the coin is down 50-60% or more from the all time high) this is the best time to buy a coin.
8-USDT (tether) is a coin has the same price of 1 US Dollar you can store your profit or make stop loss orders to prevent loss when market is losing value
9-Diversify never put all your money in one coin
10-50% from your investment should be in top 10 coins 30% from 11-50 coins and then 20% for the low cap coins
11-you have to be familiar with (Market Cap, Circulating Supply, Total Supply, Max Supply, Volume (24h)).
12-Don't buy all stack at once (Dollar cost your buying means don't buy with all your money in one day buy 10% every week or every two weeks)
13-Don't sell your all stack at once.
13-Sell half of your balance on 2x and then go on a free roll.
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The cryptocurrency Investor / Trader starter pack: (Bookmark all of them)

Overview:
https://coinmarketcap.com/all/views/all/
https://coinmarketcap.com/coins/views/all/
https://coinmarketcap.com/tokens/views/all/
https://coinmarketcap.com/new/

Information:
https://bitcointalk.org

Charts:
https://www.tradingview.com

Calendar:
https://www.coinmarketcal.com
https://kryptocal.com

Market speculation:
https://www.cryptomus.com

Balance view:
https://www.blockfolio.com

Tax calculations:
https://cointracking.info?ref=A316328

Cryptocurrency social media:
https://steemit.com
https://www.investfeed.com
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Follow Youtube channels:
https://www.youtube.com/user/larksongbird01/videos
https://www.youtube.com/user/Suppoman2011/videos
https://www.youtube.com/channel/UCxODjeUwZHk3p-7TU-IsDOA/videos
https://www.youtube.com/channel/UCCatR7nWbYrkVXdxXb4cGXw/videos
https://www.youtube.com/channel/UC67AEEecqFEc92nVvcqKdhA/videos
https://www.youtube.com/channel/UCt_oM56Ui0BCCgi0Yc-Wh3Q/videos
https://www.youtube.com/channel/UCGyqEtcGQQtXyUwvcy7Gmyg/videos
https://www.youtube.com/user/Diaryofamademan/videos
https://www.youtube.com/user/LiljeqvistIvan/videos
https://www.youtube.com/channel/UCu7Sre5A1NMV8J3s2FhluCw/videos
https://www.youtube.com/user/obham001/videos
https://www.youtube.com/user/DavidHaydotOrg/videos
https://www.youtube.com/channel/UCry6pZNehIejCzPQjfvAaZA/videos
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ICO: initial coin offering (crowd fund to help programmers start their own projects)
Before you participate in any ico make sure its legit project and do your due diligence finding all the information about the function of the coin the team and advisory board behind the project
Bookmark ico sites:
https://icobench.com
https://www.coinschedule.com
https://icodrops.com
https://coincodex.com
https://icostats.com
https://icomarks.com
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Airdrop:
Some projects distribute their coins for free but you have to sign-up for their airdrop
https://twitter.com/AirdropAlert?s=08
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Follow Twitter accounts:
https://twitter.com/CoinHunt3r (My account)
https://twitter.com/cryptocode1
https://twitter.com/cryptomarsx
https://twitter.com/euromaestro
https://twitter.com/Coin_Shark
https://twitter.com/proof_of_steak
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Some Cryptocurrency terms:
HODL: misspelling of hold and it means keep; hold that coin and don't sell it
FOMO: fear of missing out; a recent example is Bitcoin Gold fork, because people started to buy bitcoin like crazy even if the price was very high at some points
FUD: fear, uncertainty and doubt; some spread FUD to crash the coin price
ATH: all time high - the highest historical price of specific coin
Whale: a person who has a lot of coins (a substantial amount of capital); he/she can influence the price by selling
Bag holder: a person who bought at around ATH and never sold and now he/she has a lot of worthless coins
Long: long position => assuming the value of the coin will be higher in the future
Short: short position => assuming the value of the coin will be smaller in the future
BUY/SELL Wall: limit orders of the same price target from a specific exchange
Altcoin: alternate coin; everything other than BTC
POW: proof of work (consuming a lot of power and very expensive way to mine the coin)
POS: proof of steak (easy and cheap way to secure and maintain the blockchain)
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