Life with Girlfriend - Quotes from the Trenches - Ep. 2 - Learning Crypto
Over the past couple months I've been teaching @coruscate how exchanges and wallets work in the crypto world. The other day she deposited some fiat to Coinbase, then moved it over to GDAX where she grabbed some Ether then, moved it over to Bittrex so she could then pick up some Steem. Once on Bittrex I showed her how to trade into Bitcoin so that she could then get her Steem order in.
It was during this process that the word Satoshi came out of my mouth and we had to have a bit of a talk about what that was.
Early this morning I got this text...
You know things have gone to another level when your girlfriend starts speaking crypto with you!
Most newcomers to the crypto world always have a little bit of a learning curve when it comes to thinking about the price that coins are trading at. This just happened to be a funny example that I thought I'd share but it goes to show that generally when you should be thinking of the price of the coin against Bitcoin, you're instead pricing coins against the dollar or another fiat currency.
I see this happen around Steemit all the time too where people think that the price of Steem has dropped when really it's only been the price of bitcoin that has dropped and Steem has been trading at the same levels.
The Steem chart over the past couple days is a perfect example of this.
You can see that the Steem price has actually been pretty much flat for the last few days, trading between 15k and 17k Satoshis. So, if you're just getting introduced to crypto, try to remember that you'll need to think about the value of things a little bit differently.
This is @raised2b, comin at you from the trenches, over and out!
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Hahah oh boy. 🙈 Hope I’m not the only out there learning how to read satoshis!
You're probably WAY ahead of me. I'm kind of stubborn when it comes to the satoshis!
Read my little secret about Satoshi here...
Hahah just checked out that post and I literally laughed out loud! 😆
Was there a reason she went from ETH > BTC > STEEM? Assuming that you thought you could buy STEEM with ETH until you got into Bittrex to see it's only possible via BTC? I'm sure you know, but you could also use blocktrades via steemit to go from ETH in Coinbase to STEEM directly shen the price is right, which might save on a few extra transfer and conversion fees. Blocktrades can have a premium at times, but it does save some hassle.
Yeah, that definitely would've been an option if you're looking for less hassle and don't mind the premium, but ETH transfers are only a couple cents right now and once you're in Bittrex it's easy to move into BTC and then put in the order for Steem at a support level that will end up getting you the most bang for your buck. It helps her learn the process and how the markets work too, which is a plus.
Aww, look how romantic. Satoshi-ing together. :0) I love it. My husband and I are doing the same thing. He's the tech-ey. I'm the little hipster.
It's pretty much the new universal sign of taking the next step in your relationship.
wonderful
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