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.
Yes! You motivate me for that. Thanks!
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.
I am looking at some nice projects too, like: $ADA, $XLM or $XRP and $ETH these are for the pump and dump game and i'm staking 50% of my paycheck to $BTC all the way. BTW, any thoughts on this coin $DGB? Their historial data (in price movement) looks promising. I haven't dig in to this tho.
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.
Glad to know you. I commend you for not stopping to learn and still excited at the future.
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.
You had the same opinion as the majority was.
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.
Since you mention wallets, i don't have PC and only relying on smartphone, which one would you suggest? P.S. Non-custodial preferred.
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 ?
I want to earn from alts and want to stack more BTC as i am against banks. You know they are just earning from debt, TBH.
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.
Yes you've got it!
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.
Honestly I have read subtopics in this site and majority talking about gains sounded like you said that they would never care for the sole purpose of BTC. As if "whatever this world might take me i'll just ride with it, then spend, party, gettting laid, repeat".
I want to see in my lifetime... fiat will be abolished!
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.
1st para: Thank you! 2nd para: Well said!
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.
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.
All the facts genuinely stated, Thank you very much sir!
Welcome to our community. Good luck to you!
Thanks.
If there's one piece of advice you follow, it's that you take your time to do your own research and make your own conclusions. Start at the beginning: Bitcoin and the whitepaper, work your way to understanding that and that alone, and then you might want to explore other crypto.
And then, form your own opinions and make your decisions. Don't rush into anything. Don't let price bother you. It could boom tomorrow, next year, never. Entering at a good time is less important than entering at a good frame of understanding.
Surely, i'll take this advice. Thanks.
