Brief introduction to my crypto story and some impressions from one of my personal hobbies. Auch auf Deutsch!
What’s Up Steemit! Quite some time ago since we first met. While I'm still learning about all features and aspects about this innovative social media platform called Steemit, I thought a lot about what my second post here should look like and even more important what this post should contain.
As I revealed in my introduceyourself post, I will mainly focus on cryptocurrencies. Therefore I thought it would be nice to begin with:
- How I got to know about this topic and how I started my own journey and
- a collection of some links that helped me to get fundamental understanding
As a small add-on, I will also show you some pictures of my personal life to connect to my first post.
I got some very positive feedback about writing bilingual so I will continue to do so. 🤝
First contact - Erstkontakt 🔍
I first heard about decentralised currencies at the beginning of 2016.. I know not quite the early adopter. Anyway, back then a former schoolmate posted a picture of him buying a bunch of graphics cards and wrote something like:
Give me to years 💵 #Etherium #ETHI didn't care much about it but coincidentally the same day I had an interesting conversation with a fellow student. He told me that he will skip our next fiscal policy exam, because he spent the last days getting himself familiar with digital currencies such as Bitcoin and Etherium. It wasn't long before I started researching on my own. I quickly realised this could be groundbreaking and the more I read about cryptocurrencies and blockchain based projects, the more i got excited. One thing I figured out pretty early is that YouTube probably isn't the best source to get reliable and objective information, especially if you are new to this whole topic. Back then and most likely also today, many famous YouTubers tried to promote and hype coins they invested in and it was pretty hard for me to distinguish between hype content and real content. I spent hours and hours on research, read tons of articles on reddit and made my way through the whitepaper. After I felt comfortable with what I've learned, my first step was to set up a Coinbase account. I verified my identity and connected it to GDAX as well. The reason for this: to avoid fees, I will explain that further down. After doing my first transaction and also my first trades I faced the bitter truth. Quite different from what Bitcoin was supposed to be, exchanges (third parties) charged horrendous fees and transactions stuck for hours. From now on I spent most of my time to read up on Altcoins, their projects and goals. Cryptocurrencies then and now are far away from mass adoption but I truley believe we will have the time when paying with cryptocurrencies is somehow standard.
Gebt mir zwei Jahre 💶 #Etherium #ETH
Ich habe mir nicht wirklich Gedanken darüber gemacht, aber zufälligerweise am selben Tag noch, hatte ich ein interessantes Gespräch mit einem Sudienkollegen. Er erzählte mir, dass er wohl zur kommenden Steuerpolitikprüfung nicht antreten werde, da er die letzten Tage nichts anderes gemacht hat, als sich über digitale Währungen wie Bitcoin und Etherium zu informieren. Es dauerte natürlich nicht lange, bis ich selbst begonnen habe, mich auf die Thematik zu stürzen.
Schnell habe ich verstanden, dass ich mich hier wirklich mit einem bahnbrechenden Thema beschäftige. Je mehr ich über Kryptowährungen und auf Blockchain basierende Projekte las, desto aufgeregter wurde ich. Eine Sache die ich realtiv schnell herausfand war, dass YouTube als Quelle für seriöse und objektive Informationen, vor allem für Neulinge, nicht unbedingt geeignet ist. Früher wie auch heute, versuchen viele bekannte YouTuber Coins, in die sie selbst investiert haben zu pushen und es war nicht einfach festzustellen, ob es sich um realen Content handelt, oder um einen Hypeversuch. Ich verbrachte wirklich Unmengen an Zeit mich in die Thematik einzulesen, verschlang Tonnen von Redditartikel und bahnte mir meinen Weg durch das Whitepaper. Nachdem ich halbwegs zufrieden mit meinem Wissen war, machte ich meinen ersten Schritt, indem ich mir ein Coinbasekonto erstellte. In diesem verifizierte ich meine Identität und erstellte zusätzlich auch auf GDAX die Verknüpfung. Wieso das: Einfach um Gebühren zu vermeiden, mehr dazu weiter unten. Nachdem ich meine ersten Transaktionen und Trades getätigt hatte, wurde ich mit der bitteren Wahrheit konfrontiert. Anders als Bitcoin eigentlich gedacht war, verlangten Exchanges (Dritte) horrende Gebühren und Transaktionen die Ewigkeiten brauchten, bis sie verifiziert wurden. Ab diesem Zeitpunkt legte ich meinen Fokus auf Altcoins, deren Projekte und Ziele. Kryptowährungen sind noch weiter entfernt von der Massentauglichkeit, aber ich glaube fest darann, dass die Zeit kommen wird, indem die Bezahlung mit Kryptowährungen der Standard sein wird, in welcher Form auch immer.
HowTo: Basic understanding about Bitcoin/Blockchain - HowTo: Rudimentäres Verständnis über Bitcoin/Blockchain 📝
- First of all the FAQ of Bitcoin subreddit
- Here you will find 4 videos at the top, which provide basic knowlegde. Many things explained in these videos show what bitcoin was supposed to be, always remember that! Anyway, it's important to understand the basics.
- You will also find a list of the key properties of Bitcoin. Same as above be carfeful, e.g. "low fees" is of course not the reality any more
- They also provide a list of exchanges and possible wallets there.
- Small glossary of crypto jargon
- The whitepaper
- Understanding the fundamentals explained in the whitepaper means understanding the basics of POW coins
- Simple Step-by-Step guide to avoid Coinbase fees using GDAX
- Zu aller Erst FAQ des Bitcoin-Subreddit
- Hier findest du 4 Videos die grundlegende Sachen erklären. Vieles davon erzählt die Geschichte nur so, wie sie eigentlich hätte werden sollen, vergesst das nicht!
- Auch findest du hier eine Liste der key properties of Bitcoin, also den wesentlichen Eigenschaften. Auch hier gilt, dass vieles nicht mehr zutrifft.
- Weiters wird dir eine Liste von Exchanges und möglichen Wallets, also Möglichkeiten die Coins zu verwahren bereitgestellt.
- Kleines Glossar über den Crypto-jargon
- Das Whitepaper
- Versteht man die Basics vom Whitepaper, so tut man sich leicht mit anderen auf POW basierenden Coins.
- Ein einfacheres Step-by-Step Guide um Coinbase Gebühren über GDAX zu vermeiden
@azuuri as we are speaking about crypto, I started the same way you do. I'm from Slovenia and I study this crypto world for about a year.
By the way, is nice to have some neighbor here on Steemit.
I think you should investigate some DPOS cryptos too. I mean EOS, BitShares and Steem, DPOS is delegated prof of stake algorithm which is used to power their blockchains and is more advanced and able, as any of
POW (prof of work) algorithms.
Here are my posts why:
In my post: https://steemit.com/cryptocurriences/@tombort/why-irs-can-bust-you-on-centralized-exchanges-and-not-on-bitshares had wrote about some pros and cons of DPOS blockchains especially about BitShares and decentralized exchanges (DEX).
I advice you to try BitShares DEX. go to https://bitshares.org/ and inform
yourself about BitShares and try to sign in and create account on his blockchain. For me a whole new world has emerged, when I sign in and start to learn.
And another useful post of mine: https://steemit.com/cryptocurriences/@tombort/bitcoin-is-on-olympus-but-what-hat-come-up-must-once-come-down where I present some facts why Bitcoin and his POW powered relatives are maybe not the win-win alternative.
I upvote you and now following you, that we can stay close. You can also check my blog (@tombort) and follow me if my blog is interesting to you.
hey @tombort, thanks for the comment! I'm familiar with DPOS algorithms as I'm a holder of BTS, but thanks for the links though.
Greetings to Slovenia
Welcome aboard!
See your flow of interest is now into SMARTs. Nice.
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