Getting into crypto (and free tokens)

[westminstrel]

Okay, so I'm completely new to the world of cryptocurrency, but as I was reading about it this past weekend (because it was part of at least two casual conversations), I stumbled on a new startup Authorship.com that is offering 75 tokens(worth about $10) for people who sign up to their mailing list.

The Authorship Token (ATS) is apparently based on the Ethereum technology and is meant to be a unit of exchange on a new Blockchain-based book publishing system.

The Initial Coin Offering will go live on September 14, and their projections are that these coins could have a 10x opening, meaning the $10 could be worth $100 by end September.

To be honest, I have no idea how this might pan out, but as it's a freebie and is giving me the chance to dip my toes into crypto for free, I thought I'd give it a go and have some fun.

Go to Authorship.com, select "Bounty Campaign" and sign up to get your 75 free ATS token allocation.

Mods: If this post breaches any guidelines, please delete it, and you have my apologies.

[HelpingHands]

@westminstrel I'm afraid referral links aren't allowed.

Can you edit the link.

[westminstrel]

Just now, HelpingHands said:

@westminstrel I'm afraid referral links aren't allowed.

Can you edit the link.

Thanks for letting me know. I've updated my post.

[Roy]

Your ONCE-IN-HISTORY chance to turn just
£100 into £49,000:

Over the next five to ten years bitcoin could fly past $380k a coin.

That’s a 14,000% vertical lift-off that could make you rich – filthy rich...

The kind of move that would turn just £500 into £70,000.

Please explain?

 

[westminstrel]

Hey @Roy, I really have no idea about all this stuff. As I mentioned in my original post, I'm completely new to this. And to be honest, I am not investing anything here - the only reason I'm giving this a try (and letting people here know about this) is because it's a couple free tokens which allows me to get my foot in the crypto door without spending money and exposing myself to any risk.

All of this Bitcoin/crypto stuff is speculation imho. And like any gamble, there's equal chances of upside and downside. Personally I am not one to get into speculative stuff. I don't have disposable income for that degree of risk. Though one might say purchasing the 2017 SotD Sovereign was a bit of a "gamble"  But then again, I didn't buy it with the intent of selling it at a higher cost. I got it so it can bring me enjoyment, and if the unfortunate time comes when I have to sell it, well then I can only hope I can at least break even.

So apologies if I have no answers to your question. My advice to anyone for anything like this (even coin collecting and PM stacking) would be "do your own homework" before you spend your hard earned money. Once you spend it, it's gone. That's the only guarantee. Well that's my advice to myself anyway  

Cheers!

[vand]

Blow off phase of a financial bubble. Seen it all before.

[royalecraig]

Japan just declared Bitcoin a legal means of payment, Ukraine did something similar.

You can book 200,000 hotels world wide using Bitcoin, 2 airlines now accept Bitcoin, etc etc etc.

https://bitcoincharts.com/

[sovereignsteve]

but what's the point when each transaction takes 2 weeks (well it may as well be) and needs the output from a small power station to authorise?

[Murph]

I can't believe the price that Bitcoins have reached now.  Makes me sick about losing some I mined years ago.  I can't even remember what I did with some I put in a paper wallet for safekeeping at the time of the MtGox problem either.

[HelpingHands]

2 hours ago, Murph said:

I can't believe the price that Bitcoins have reached now.  Makes me sick about losing some I mined years ago.  I can't even remember what I did with some I put in a paper wallet for safekeeping at the time of the MtGox problem either.

Maybe check any old computers for the wallet.dat ?

[FlorinCollector]

17 hours ago, sovereignsteve said:

 each transaction takes 2 weeks (well it may as well be)

Are you talking about crypto here?

[sovereignsteve]

was replying to

On ‎10‎/‎11‎/‎2017 at 03:22, royalecraig said:

Japan just declared Bitcoin a legal means of payment, Ukraine did something similar.

You can book 200,000 hotels world wide using Bitcoin, 2 airlines now accept Bitcoin, etc etc etc.

was reading that transactions can take days to complete and the amount of power needed for each transaction is phenomenal. I'll try and find the article.

[FlorinCollector]

46 minutes ago, sovereignsteve said:

was replying to

was reading that transactions can take days to complete and the amount of power needed for each transaction is phenomenal. I'll try and find the article.

Transaction times depend on how much traffic is going through the blockchain at any given time. Last night Bitcoin cash was being heavily moved because price was spiking it took me 2 hours to get my money transferred. Bitcoin usually can be there easily in minutes. Using litecoin mostly all the time i can see the amount in the other account within seconds. Ive never seen a transactions take anywhere near that time but who knows  

[royalecraig]

It's true, Bitcoin does have quite serious problems, in terms of it's ability to handle more transactions.

Other cryptos have better abilities in this area and others.

Bitcoin has a massive lead though on other coins but it's difficult to know where to buy in for investment purposes.

Different cryptos have different properties and I think it's wise to hedge your bets and buy in to a range of cryptos, after doing a massive amount of research of course.

Buying into the top 5 or ten by market cap might be one strategy.

If you think Privacy might be a huge pull with the masses in future, then privacy centered coins like Monero, Pivx, Dash, Bytecoin and others

might be worth researching.

Several 'coins' are not really coins as such, but decentralised programming platforms, like Lisk, Ethereum.

Golem, is designed as a global supercomputer network.

Other interesting cryptos are Gridcoin, Foldcoin and Curecoin, essentially these coins are set up in collaboration with 

Major Universities, in return for allowing your computer or smartphone to carry out number crunching tasks for the Universities, 

you are rewarded with 'tokens or coins which can be traded on various exchanges.

It would be nice if coins like Gridcoin, Curecoin, Foldcoin had greater adoption because they bring an altruistic component

into trading and finance.

There are many Dozens of other coins not mentioned here, most of which I have no idea about and which might very well be as useful or more so than the above,

which ones are going to be around in 5 years time, I have no idea.

 

 

[royalecraig]

10 hours ago, Murph said:

I can't believe the price that Bitcoins have reached now.  Makes me sick about losing some I mined years ago.  I can't even remember what I did with some I put in a paper wallet for safekeeping at the time of the MtGox problem either.

As already stated, check your computer for a Wallet.dat file.

Contact a group called wallet recovery services that are the leaders in crypto recovery, though they do charge 20% but at today's prices, it might well

be worth it.

I've got 1BTC stuck due to a partially forgotten password so at sometime, I'll be contacting them.

Hope you can recover them.

Just be careful what info you reveal, do some research first, there are viruses scanning PC for wallet.dat files and trying to Bruteforce simple

brainwallet adresses.

Be careful about what info you reveal to anyone until you have done your research about who you can trust with that info and maybe 

done some research into using encrypted emails.

 

Good luck.

[Murph]

Thanks, I'll look into that.  

It's been years since I looked at PGP for encryption and verification of emails.  Not since the time pgpdisk was still freely available with it.