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 In over my head, Monero, digital wallet 
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I took the plunge a few weeks ago into the crypto currency pool.

Started off in the shallow end, learned how to tread a little water. Bought some bitcoin, bitcash, navigated through a few exchanges. Put some water wings on, and actively traded some digital currency on a local exchange Bittrex.

Well, before I learned how to trade on Bittrex, I made a separate transaction for Monero via Changelly. That requires establishing a Monero wallet, sending bitcoin to Changelly, doing the conversion from bitcoin to Monero, and then forwarding the Monero to the new wallet.

Should have waited an hour after eating before jumping into the deep end, it seems.

My Monero GUI wallet has been stuck for about three days trying to synchronize. There are many, many suggestions to resolve, but a lot of it is over my head.

Is anybody here competent in this? Really want to get my funds out of the digital ether.

Thanks.

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Fri Nov 24, 2017 6:26 pm
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Here's one thread that might help:

https://monero.stackexchange.com/questi ... ed-syncing

If that doesn't help, google, Monroe GUI wallet not synching, and see if another listing is more centered on your issue.


Sat Nov 25, 2017 12:22 am
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Thanks...finally pulled it together. What a friggin' nightmare. There are so many variables that can become obstacles...stepping through them, trying different solutions. No central desk for trouble tickets...good will of those who paved the trail before you is about all you can count on.

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Sat Nov 25, 2017 11:21 pm
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What did you figure out?

I've been looking into Bitcoin, Dash, Dogecoin. I looked at coinbase as the place to turn cash into bitcoin. How did you pick bittrex?


Sun Nov 26, 2017 12:19 pm
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Coinbase is a good place to start. There are other places that will exchange cash for bitcoin, but many are not allowed to operate in the US. There is at least one allowed in the US, but not approved in all states-Kraken.

Bittrex seems to have a good reputation for security. That being said, the proverbial wisdom is to not leave any cryptocurrency on an exchange that you don't want to lose. Any exchange. For best security, put your crypto currency on a hard wallet. There may be more, but the three top hard wallets are Trezor, Ledger, and KeepKey.

Throwing another wrench into the works: I've read in passing, but not taken the deep dive, that Trezor can somehow identify external addresses and not allow you to transfer bitcoin to them. So, that's similar to blockchain restricting Ethereum transfer, which I'll go into below.

Regarding hard wallets, research and determine what coins they support before you make your final decision.

There are also on line vaults. A highly regarded vault is Blockchain for storing Bitcoin and Ethereum. They will let you transfer bitcoin to Bittrex, but not Ethereum. Very weird. Their terminology reads something like this "At this time, we do not transfer Ethereum to contract services", or something very similar.

They do offer a workaround, but my head was about to explode with the Monero bs, so I have not learned how to move my Ethereum out. Right now, I'm leaving it there. I did sell some bitcoin on Bittrex and bought Ethereum over there.

So, that's at least two situations identified that restrict movement of your funds after you've made a deposit. I don't know if these fractional details are in the fine print, but they are not in bold print.

A lot of this info floats around in disconnected bits and pieces.

It's kind of like the wild west...very little regulation, just a couple steps above organized chaos, it seems.

As far as the Monero, I piggybacked on a remote node to synch up. Nobody told me...it was hours of reading endless posts and blogs, and ferreting it out for myself.

One guy on reddit did advise me how to verify that my funds actually made it through Changelly. It's a matter of going to a webpage, inputting some crypto numbers, and then it looks into the universe to see if a transaction actually exists.

If you want to use GUI for Monero wallet, you'll need 64 bit OS. Otherwise, you'll be limited to command line operations for 32 bit OS. I'm imagining it might be similar for other wallets. Also, I've read that an SSD is optimum due to the load of data and synching that goes on. When I went to to do a download, it was 24gb...ugh. I kept thinking, why doesn't someone have this in a zip file on dropbox...

Two weeks ago, didn't know diddly about this stuff...so, don't take me as the expert on all this.

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Mon Nov 27, 2017 8:48 am
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I am having a hard time understanding why anyone would want to get involved in this stuff. It’s way to risky and what is your hopeful outcome?

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"I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones". Albert Einstein 1947


Mon Nov 27, 2017 10:41 am
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mcyclonegt wrote:
I am having a hard time understanding why anyone would want to get involved in this stuff. It’s way to risky and what is your hopeful outcome?

Because the guys that first got into it bought bitcoin for .23 and now each one is worth what 8k now?

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Mon Nov 27, 2017 10:49 am
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Almost 10K today...

I started small, with about $1500.00 a couple weeks ago. Figured I could lose that without getting an ulcer.

Now, that has grown to about $3000.00.

I take some profits, diversify into other crypto currency. Some of which may flop, or may grow. As an example: .0005 for a coin, a modest investment (about the same as a big mac meal) might pay off well in the future. Or flop. At least my waistline doesn't suffer.

If you decide to jump in, be aware of "pump and dump" schemes...some guy walked away with about $300k last week. Opened a website, offered up an ICO (initial coin offering), closed up shop, took the money and ran. If you invested ten bucks, it's sour taste in your mouth...if you invested ten thousand bucks, different story. Lot's of pissed off investors. His company is claiming they were "crowd funders", not investors, so piss off. Totally messed up. Like I said, wild west. Woo hoo!

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Mon Nov 27, 2017 11:02 am
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So it’s basically a casino?

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"I'm Hub McCann. I've fought in two World Wars and countless smaller ones on three continents. I led thousands of men into battle with everything from horses and swords to artillery and TANKS! I've seen the headwaters of the Nile, and tribes of natives no white man had ever seen before. I've won and lost a dozen fortunes, KILLED MANY MEN! And loved only one woman, with a passion a FLEA like you could never begin to understand. That's who I am. NOW, GO HOME, BOY!"



"I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones". Albert Einstein 1947


Mon Nov 27, 2017 1:16 pm
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If you turned 1.5K into $3K. GTFON.

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Mon Nov 27, 2017 1:19 pm
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at least take your $1500 back, and you are 100% on house money!

Or whatever the hell Bitcoin is.


Mon Nov 27, 2017 2:58 pm
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This shit is global, and it's not going away. The US approved a federally regulated bitcoin exchange in the summer.

Eventually, crypto coin will become more legitimate, and permeate more and more of our lives.

ATM's have already been established for DASH, and merchants are getting on board.

Setting up an account is free. I would encourage everyone to dip a toe in the water, learn more about it. Instead of taking the family out for pizza, set up a bitcoin account and buy some. Not a lot of money to lose if it all goes to sh*t.

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Mon Nov 27, 2017 4:26 pm
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Make something asn a guide with what youve learned and have done so far. Its so confusing.

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I'm going to type out 3 paragraphs and wax eloquently about a similar story in my life. Pm me if you figured it out.


Mon Nov 27, 2017 5:03 pm
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It is confusing...I made my wallet three years ago. I couldn't figure out at that time how to obtain bitcoin... :crybaby:

Before you continue: If you want to buy other little coins, you'll need to set up accounts on both Coinbase, and Bittrex.
They requires copies of your driver's license. If that's a non-starter for you, no point in reading further.

If you're ok with that, then go here to get a basic understanding of Coinbase:
https://support.coinbase.com/customer/e ... unt-limits

Start at Coinbase. You don't need thousands, or even hundreds to get started. I don't know if they have a low limit...but I'd try $60.00, just to get started. They have a flat rate low limit transfer fee, so you don't want to be transferring ten bucks, and paying three bucks to move it.
https://www.coinbase.com/new_to_bitcoin ... 011900000e

You only get three choices at Coinbase: bitcoin, ethereum, or litecoin. Coinbase is not a full-on exchange like Bittrex is.

If you wanted to buy the equivalent of 1/10th of a bitcoin, that would be about $950.00 today. If you wanted to buy a quantity of 1 ethereum, that would be about $450.00. But, again, you don't need to buy a whole coin/token. You can buy fractions.

I selected a credit card with a low limit to link to Coinbase, to limit my exposure. If it somehow got compromised, it won't be a financial disaster.

So, now maybe you own $60.00 of bitcoin (or ethereum)...now what? Hold it, or play with it? If you just want to say you got bitcoin, and want to hold it..nothing else for you to do. If you want to buy Doge, or Dash, or any other coins out there, you gotta move your money to an exchange. It's just like trading on the stock exchange.

If you've made it this far...Congratulations!

So, now you have two financial institutions you need to move money between. That is done via send and receive buttons, and a string of HEX addresses you copy and paste, depending on which way you are moving funds.

On Bittrex, you should see a data line with a blue positive and negative button on the left side. Clicking the blue positive button creates a pop up window that gives you a HEX address. You'll need to copy that, so you can paste it in the Send cell over in Coinbase. Go back to Coinbase, select Accounts, select send, copy in the HEX address and press go!
______________________________________________________________________________________________________
Here is an excerpt from Bittrex:
Please use a small amount for your first deposit to verify everything is working as expected before sending larger amounts. Your deposit address must hold more than 0.1 ETH before we will credit your account. If you deposit less than 0.1 ETH you will need to deposit more until your balance on the block chain holds greater than 0.1 ETH

Please deposit ETH and ETC to the correct address. Bittrex will not cross-chain credit your account. Please view this article for more information.

Depositing tokens to this address other than ETH will result in your funds being lost.

_____________________________________________________________________________________________________

So, lets say you bought 0.1 ETH (Ethereum) would be about $45.00. You can select to send all, it will make an adjustment for the fee, an voila, your ethereum will move over to Bittrex. The transfer fee would be about three bucks, I think. I'm basing that on that I moved $78.00 in bitcoin, and got charged $3.00...I think it's a minimum flat rate.

Get your head wrapped around what currency values you are dealing with. For example, let's say you wanted to buy 500 Doge...it's current value is about 0.0000002. That would cost about 0.0001 bitcoin, which converts to about one US dollar. For shits and grins, I also bought THC...that's about as close to dope as I'll get.

Have fun...and..:cheers2:

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Mon Nov 27, 2017 6:27 pm
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Here is some specific info about Coinbase that I found out. I looked into buying $1000 of Bitcoin. Here is some info about the fees.

Summary:
1. First we need to give the website cash (USD).
  1. Free with ACH transfer – but they need bank account(checking or savings) info
  2. Not possible with Credit/Debit cards
2. Then we need to buy coins with the cash.
  1. 1.49% if we use a bank account, or funds previously transferred via 1a
  2. 3.99% if we use a credit card - but you have to send them a copy of your drivers license
3. Then we need to move the coins from the website, to the paper wallet (or physical wallet, or local wallet).
  1. To move bitcoins from one wallet to another wallet, you have to pay a transaction fee to the bitcoin miners
  2. Fee of About $3.51
  3. https://bitcoinfees.info/

As you can see, with a transaction fee of $3.51, Bitcoin will never be used for every-day purchases. Would you pay a $3.51 fee to buy your McDonalds?

Right now it looks like the fees will be about $43.51 via CreditCard, and $18.51 via Bank Account Transfer.

So, do you want to hand over access to your checking/savings accounts, or do you want to share your Drivers License?

Personally, I'm against the way these coins are created/distributed. There will only ever be 21 million bitcoins created. 16 million of them are already created, and in a very small number of hands. If you want some, you'll have to buy them from people that got in early, and paid pennies each. Now they are $10,000 each. This is just a scam to get a small group of people rich, a giant transfer of wealth.

I like the idea of a digital currency, but the creation of coins should be related to the number of people using them, the intent should be to keep the value of the coin always the same, never increasing or decreasing in value. If there are 100 people using the coins, then there can be 100 coins. But when the entire world uses the coin, then we need 7.5 billion of them. And we aren't going to buy them all from the first 100 people.

Also, mining is a giant waste of electricity and hardware. They make the math problem as hard as needed to ensure people don't solve it too fast. And solving the math problem doesn't actually increase human knowledge.


Tue Nov 28, 2017 12:46 pm
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