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there are a few things you will need to master before you start trading for real
1) Learn to read the charts (candlestick). This is the most important skill that you will need in order to trade successfully. Know how to spot a trend and a reversal.
2) Trend is your friend. Never trade against the trend. Once you can correctly identify the trend direction, you can easily and safety buy the pull backs as long they occur within the major trend.
3) Have a trading plan .Many times things do not occur as your prediction ,you will have to cut loss quickly.Remind do not rush into making a decision or allow your emotions to take control of your trading.
4) Do not follow the news. Many atimes , prices do not follow the news but rather news follow the price.
Most important skill of being a successful trader is having control of your emotions and be disciplined in trading.NEVER EVER let your emotions take control of you. Once you master that, you are on your way to be a successful trader.
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Firstly, I need a few questions before helping you
1) Do you have the private seed for your Bitcoin Wallet
2) What is the present phone you are using now ? If you are still using a Samsung you can port the data easily over
3) Which Bitcoin Wallet are you using?
4) If the Bitcoin inside the Bitcoin wallet is huge enough ,you may try to repair the LCD screen of the phone.
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The safest way to keep Coins is actually keeping them off the internet (Cold Storage ) to prevent them from getting hacked.I would recommend the Legner Nano S as it supports many alt-coins and allow you to keep the private keys to yourselves. As Legner Nano S are unhackable, the only risk of losing your coin is losing the Token itself . Even if you lose Legner Nano S itself ,using a seed phrase you will recover the funds still on another Legner Nano S.
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I want to transfer my BTC from one address to another (both are mine), how do I avoid paying the transaction fee?
You cant avoid paying the transaction fee but you can avoid paying HIGH transaction fees by doing these below 1) Wait for the network to be less congested (At midnight or during the weekend) this is often when the transaction fee will go down 2) Go to btc.com and check the lastest transaction fee .Compare the prices and decide when is the best time to transfer. 3) Change a wallet to a wallet called Mycelium that allows you to set different prices for Transaction Fees that ranges from low-priority to high In short, there is no way to AVOID paying anything but with some methods u can avoid paying HIGH fees |
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Actually the safest wallet to keep your bitcoins is actually a hardware wallet (Cold storage). Hardware wallets are actually small devices that connect to the internet just to enact transactions only. They are very secure as they are often kept off the internet system and thereby not hackable .Examples will be Trezor T or Legner Nano S. I personally prefer Legner Nano S.
For a online wallet ,i personally prefer Jaxx as it allows me to keep my private keys to myself. However , such wallets are prone to hacking as there are based online. So it will be advisable to scan your computer for malware every now and then.
For exchanged linked wallet, Coinbase is a good wallet then have 2FA protection ,Email protection and IP address notification.
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while ETH and BTC are powered by the blockchain and cryptography.There are major differences between them technically. For example, BTC uses a stack based language while Ethereum uses turing complete.Other major differences include transaction time (ETH is much faster than Bitcoin) and their basic builds (BTC uses SHA-256 while ETH uses ethash)
In addition,generally, BTC and ETH differ in their respective purpose. BTC seek to be an alternative to money and become a faciliator of payment transactions while ETH is developed to be a platform for faciliting applications and p2p contracts.Although it can be said that both BTC and ETH are digitial currencies, the main purpose of ETH is to not be a payment alternative but to be a platform for developers to run DApps.
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To me ,yes bitcoin is a huge huge bubble of all time.Firstly,Bitcoin cant be used to pay wages due to Bitcoin huge and crazy price fall and rise. People will not want to be paid wages in Bitcoin which can fall 30% in a day.It is very clear that the price of Bitcoin is based on speculation.Bitcoin had already shot up from less than 1k USD in Jan 2017 to almost 20K USD in December.If this is not a huge bubble, I do not know what is.In fact,Bitcoin rise had ticked almost all the box on the bubble checklist.
1) Most bubbles erupt off on new technology aka dot.com boom in 90s. ( Blockchain )
2) Constant media coverage which allow more investors to have FOMO
3) Speculation driving prices beyond fundamental value ( Hard to find what the value of Bitcoin has except of some strings of code)
Like all bubble, Bubbles do POP and everyone should be careful when it pop.Indeed Bitcoin is one of the biggest bubble of all time.
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Another way chinese buyers get around the government ban is by trading OTC themselves on websites (zb.com).There are hundreds of brokers working in wechat group seeling all sorts of coins.For example, if you live in Beijing and want to buy some bitcoins you can login to zb.com where you can find sellers across the whole china willing to accept RMB via wechat pay or alipay as a payment method.
Once your payment is verified by the exchange, the bitcoins will be transferred to you.So this is one way to buy bitcoin in China without complicated account opening and money transfer.
Another method is the traditional exchange method such as buying from exchanges like Coinbase,Bitfinex.However,to find such overseas account with fiat currency,you will be restricted with the USD $50,000 per year limit for cross-border exchanges.
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Should i keep my private key when i fill up in airdrops ?
Yes.Private Keys are meant to be private. Private key is actually a code that is paired with a public key for text decryption and encryption and is a secret number that allow coins to be spend.Because giving your private keys allows someone to take your bitcoins and spend.It is important for you not to give your private keys to anyone and to write them down on paper in case of computer crashes . Stay Safe |
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I really believe that NEO could potentially be a huge competitor and an alternative to Ether.
Below are some differences between the 2 alt coins
Backers
NEO is backed by many Chinese enterprises and is the single most important factor behind NEO's popularity in China.
Ethereum on the other hand is supported by the EEA-Enterprise Ethereum Alliance.Not only in China,ethereum audience is Global.
Divisibility
NEO is not divisible. It can only exists in whole numbers (1,2,6,10,100)
Ether is divisible. It can be divided into satoshi
mechanism
NEO make use of a consensus mechanism (Delegated Byzantine Fault Tolerant ) , which is an improved form of proof-of-stake.
Ethereum uses a proof-of-work mechanism although etherum is looking forward to looking to proof of stake.
dBFT is seen as more energy efficient than proof-of-work, as proof-of-work usage of energry is huge and highly expensive considering high electicity price. However, I don’t see this as a big advantage for NEO as Ethereum has plans to move to an efficient proof-of-stake mechanism.
Speed
NEO can handle up to 9,000 t/s
Ethereum can handle 15 t/s
This is currently NEO’s biggest advantage but ether could soon catch up to it as Ethereum blockchain enter its next Phrase
Actually no one actually know what the future will behold.Both Neo and Ether are new and yet to deliver on their core promises yet.Once things start to happen, we will know which Altcoin will be the better one.
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Because no one taught us how to be happy,we all have to learn to be happy from all these pop psychology books ,other people who claim to know the inside scoop of being happy and from sacred texts.
Not only do we feel psychologically victimized much of our lives, but we feel we have to consult others to find out how to find happiness, or choose happiness.
If it is a choice, than I must surely be choosing not to be happy, right?
These are the kind of dilemmas we get into in our minds and yet, there are unexamined beliefs that we may be carrying around about happy people as well.
However,it is possible for us to recondition our thinking by allowing ourselves to claim some amount of credit for all we are doing and for all we are trying to accomplish.
For our hard earned efforts, we can learn to feel good if we consciously let them in every day, every week.
We can begin to turn around a very strong force of doubt that tells none of our effort is truly worth it.
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As of now,there is 2 major problems with Bitcoin as an currency
1) Mining fees are too high nowdays and getting congested.In addition,the processing time of Bitcoin transaction is very slow even compared to Visa.Due to the fact that there is a limit on the number of transactions that can be completed in a day,it can sometimes take days to even finish a simple transaction.
2) The price of Bitcoin is too voliate to be even considered as a currency. Take for example,the value of Bitcoin has experience drastic daily change of almost 5-10% in value.On the other hand,the most frequently traded forex pair USD/EUR had only a daily changeof less than 0.9% a day and bardly changed 10% over a month.The common people do not want investment denominated in a currency which value can changed by almost 50% to 90% in a month.
In short, Bitcoin is not, nor shall it be a currency.
Also Asset is something that put cash into your hands, Bitcoin is neither an asset too.
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