(Although the recommendations above will most likely appreciate a great deal, I believe my new recommendations will do better in the coming year. So, be sure to scroll down to read the new recommendations. I hope you find these of value, but keep in mind these are for you to evaluate. I’m not an investment advisor. Just a cryptocoin writer sharing my views with you.)
Do not invest more than you can afford to lose! This is vital as the prices go up and down. If you invest more than you can afford to lose, you will be scared at the bottom and sell before the prices recover and go way, way up.
For beginners, start with an amount you can afford to lose and buy Bitcoin. There is a long learning curve to cryptocurrencies. So, start with a small amount in Bitcoin. It is the best known and been around the longest. After you’ve learned to buy, hold and sell it. You can begin to get a feeling for the alternative coins (called altcoins) and broaden your portfolio. Download my book to learn more about Bitcoin and how to buy and sell it.
In case you’re new, I’ve defined “blockchain” here at the beginning, so you don’t get lost.
Blockchain — Every 10 minutes for Bitcoin (shorter intervals for other cryptocoins) all the information on transactions and new coins mined (created) is written in a block of data on all the computers in the Bitcoin (or other coin) network. Each block has a secret code created from all the data of the last 10 minutes plus the secret code of the previous block. Thus the secret codes “chain” these blocks of data together. To “counterfeit” a false block giving a hacker counterfeit Bitcoins, he would therefore have to create an entire false blockchain of 498746 blocks (as of 8:48 am EST). Thus, the blockchain provides tremendous security for digital currency and/or data.
The Expo was exciting! 10,500 people and 300 exhibits covering cryptocurrency and blockchain, the Internet of Things (smart objects in the real world able to interact, such as self-driving cars or voice activated lamps) and artificial intelligence (computer programs that “learn” as you use them, like Google discovering what you search for and feeding you relevant advertising based on that).
It reminded me of the personal computer industry in the mid-1980’s when all the software and hardware was new. There had never been personal computers before. Word processing programs, spreadsheet programs, bookkeeping programs were just being developed for the first time. The industry was booming and the excitement of creation was contagious!
Even though I got back a week and a half ago, I am still struggling to catch up on my emails, calls and so forth. But I did want to get you a report on new coins of interest. Please note I have not had time to check these out. So you will have to do your own homework on them if you want to invest in them. I do hope you find these of value, but keep in mind I’m not an investment advisor. Just a cryptocoin writer sharing my views with you. Continue reading “Report from Blockchain Expo in Silicon Valley Nov. 39 & 30 Nov.”
Bitcoin Cash has gone up as high as $2400 and is now back to about $1270. Bitcoin appears to have stabilized at about $6150. So, I’ve switched back from all Bitcoin Cash to Bitcoin again and have decided not to suggest to others what to do. Most people can’t jump in and out as I can nor spend the time watching the market as much as I.
A few days ago, Bitcoin Cash price starting skyrocketing. Then two days ago, Bitcoin’s price started on a big drop. I’ve been wondering what was causing this, but couldn’t find anything to explain it to my satisfaction. Then yesterday morning I found an open letter that explained it. It was shocking and I didn’t know if it was real or what to do if it were. After a few hours, I decided to move all my Bitcoin to Bitcoin Cash. This was a risky move and counter to anything I’d done before. I wasn’t ready to broadcast the news to others until I saw confirmation. Today’s prices are confirmation.
I’m NOT telling you to sell all your Bitcoin for Bitcoin Cash unless you are a serious risk taker. I am telling you what I found so you can decide what to do. You may want to consider moving 50% of your Bitcoin to Bitcoin Cash.
Whether Kraken agrees with me or not, Kraken has decided to increase its computing capacity to accommodate more action quickly.
They’ve identified areas using much more computing capacity than their standard ‘bread and butter’ trades and are eliminating those areas to quickly increase computing capacity by temporarily eliminating the lesser used functions that did use much more capacity.
They haven’t eliminated trading in the cryptos they listed, just said you have to trade ETH or BTC for them instead of fiat currency.
As for the advanced order functions, I’ve never used them in a year+ of trading.
P.S. If you’re in the Venice Florida area, come join our Bitcoin meetup on Saturday, August 26 at the Jacaranda Public Library from 3 to 4 pm!
The cryptocurrency market just fell about 15% and appears to be on its way back up. If you’ve gotten my book and set up an account, now’s the time to buy some.
I believe the drop is related to the possibility of another type of Bitcoin being created on August 1. If so, provided you don’t buy Bitcoin at Coinbase or GDAX, your Bitcoin will split into one Bitcoin and one new coin.
Either way, be sure to buy no later than July 27 and don’t do anything with it, buy or sell, until after August 3.