How it feels to be new to Crypto

4 months ago
65 in steemit

I took the plunge a month ago into the murky waters of crypto investment. Some of you have been surfing these waves for years but to the rest of us muggles, cryptocurrency is so new it even has a squiggly red line running underneath it telling me I spelled the word concurrency wrong. I wish to share this disorienting yet exciting experience so far in my usual 'snarky at the expense of insight' sort of way.

My first exposure to cryptocurrency

As my new 53 year old foster child would attest, I've never been an early adopter of anything. Up until last year I was still using a dumb phone, and as a result, have developed a bad habit of actually watching where I'm going when walking down the street. Because of this I saw a sign at a local coffee shop reading 'Bitcoins accepted here'. Admittedly I had heard of Bitcoins before, but dismissed it as something akin to a Nigerian prince asking for my credit card details. But now this piqued my interest as I had left my wallet at home and was therefore wondering if they also accepted Clash of Clans gems as payment. They didn't.

Looking into Bitcoins, I discovered that there were many more of these 'crytocurrencies' in existence. Indeed a whole new world of 'altcoins' or 'shitcoins' was opened to me. Mind you, I don't think many of these altcoins self identify as 'shitcoins'; their claims are generally somewhat less modest: 'The Worldwide Supercomputer' one of them would boast, 'Decentralized Multi-Dimensional Time Traveling Machine' another would claim. Very few run with something like 'A blockchain calculator lacking trigonometric functions'. I found them fascinating and researched them extensively; by which I mean watching a 1 minute animated introductory video made by the coin devs themselves. These are quite similar to the pain relief medication ads on TV: you know, the ones trying to convince you through an animation that their branded meds are able to rapidly target painful areas and thus, clearly superior to the cheap generic alternatives which, presumably, only target non painful areas, leaving your painful areas in pain. I found many of these altcoins very interesting. As for Bitcoins itself, perhaps the first mover disadvantage of having antiquated technology may somewhat offset its first mover advantage of being the first mover. Either way it's difficult to say it's infallible.

Crypto Slang

Like with any new endeavor one must quickly learn the parlance of the community. Through the hustle and bustle of chat channels and forum posts I was able to figure out that when a crypto is mooning it's not about to get arrested for indecent exposure; that a pump and dump has nothing to do with masturbating on the toilet. In this strange world where the Wolf of Wall Street meets Comic-Con, I still don't know what the fud some of these terms mean. For some reason being disruptive is a good thing in technology but not so much when you're blowing snot bubbles in your book club meeting. And scalability is highly desirable if you're a blockchain engineer but not so much if you're designing Trump's wall.

Conclusion

It seems like only yesterday when I was yelling for mom to get off the phone so I could use the internet. The world is moving along at an astonishingly fast pace and we're all scrambling to be part of something meaningful before it zooms by, leaving us in the dust. Cryptocurrency is definitely brimming with opportunities; but for both success and failure; never before have the stakes been higher. So while the fomo has definitely kicked in, there's no denying that I also fear the fear of missing out. This is wise according to Dumbledore, but it does make me a fomophobe. Nevertheless, here I am on board with you guys, hoping to not get left behind when tomorrow comes around and my local coffee shop has a sign up reading 'fiat coins accepted here'.


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Sort Order:  trending
65
  ·  4 months ago

Every day since I enter steemit I discover something new about crypto currency. As you said, the world changes and there is no other option than to adapt quickly, because if you do not, you lose many opportunities. Darwin was right. The species that adapt are the ones that survive.

The truth is that I am a total amateur and little by little I am learning. But the most important thing is that I like this new world. If I did not like it, I'd be in trouble.

I hope many more people start to know about these possibilities. The more we are, the easier it will be to learn and know about this topic.

P.D: I also play Clash of Clans! Which is your user? Are you in any clan?

Cheers my friend!

@tincho

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65
  ·  4 months ago

Yup I agree
haha you caught me out on a white lie, I play some pretty obscure Chinese games but I don't play Clash, I just used it as a reference thinking more people would get it :p

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65
  ·  4 months ago

LOL!

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52
  ·  4 months ago

I loved it xDDDD

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54
  ·  4 months ago

How have I never seen this before! hahaha

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60
  ·  4 months ago

Best video ever made on the interwebz! lol

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62
  ·  4 months ago

Awesome xD

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67
  ·  4 months ago

hahaha NOOOO

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62
  ·  4 months ago

im gonna send this guy a bunch of siacoin

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64
  ·  4 months ago

He is on steemit @fyrstikken ;)

70
  ·  4 months ago

I used to pump and dump coins, I still do, but I used to too. Who knew I would use classic Mitch Hedberg joke on steemit one day :)

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65
  ·  4 months ago

haha I recognize that joke!
RIP mitch

68
  ·  4 months ago

Nice read. I am in crypto since april 2013 and have lost a lot of money because I was a newbie and not focused at all. For example I changed nearly 9 btc into 333 ltc. Everybody knows do not buy in a falling knife and at the end my 9 btc had been worth 1,5 btc in ltc. Then I got scammed with a mining contract from black arrow mining and after that I mined white coin where the devs left the coin. After that whole mess I have made a break for nearly 1,5 years but now I am doing well with my investments.
Much success to you and all readers with the crypto investments you have made and will make :-)
Resteemed :-)

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37
  ·  4 months ago

Sometimes you have to take a chance, sorry for your losses. I have lost some BTC to scam HYIP sites as well, playing it safe now.

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65
  ·  4 months ago

Aww, damn you had it hard, but I'm glad to hear you're doing well these days =)

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68
  ·  4 months ago

Thank you very much @trafalgar :-)

74
  ·  4 months ago

Lol I like the pump and dump analogy! I think we all have similar journeys when we first find out about a new technology and the pace of change only gets faster!

I remember when I first started finding out about mining in 2013 it was tricky getting to grips with all the new language and terminology. The technical computing bit was the easy part I think!

https://twitter.com/Soul_Eater_43/status/854667155207598080

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65
  ·  4 months ago

haha these days you sure know your stuff though!

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74
  ·  4 months ago

Sometimes lol! There is still so much I don't understand - I really need to learn more about programming so I can tackle those areas of ignorance more directly.

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55
  ·  4 months ago

Soul_Eater_43 The Cryptofiend tweeted @ 19 Apr 2017 - 12:05 UTC

How it feels to be new to Crypto — @Steemit steemit.com/steemit/@trafa…

#newusers #novelty #blockchain

Disclaimer: I am just a bot trying to be helpful.
73
  ·  4 months ago

Wolf of Wallstreet meets Comic Con... Margot Robbie is involved in both of those.

Sign me up!

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65
  ·  4 months ago

Its true, too bad suicide squad sucked :(

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73
  ·  4 months ago

Oh yeah every second she was not on screen was absolutely unwatchable. By the way, if you can name one thing Killer Croc did in that movie I will give you 5 steem.

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65
  ·  4 months ago

honestly couldn't think of a single instance, and I even remember that grappling hook guy getting himself blow up trying to escape

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37
  ·  4 months ago

Hot!!

36
  ·  4 months ago

I too jumped in recently - the end of Feb 2017. I’m a data geek and began charting daily activity. I was very excited to learn of an ETF possibly being approved by the SEC. When the approval failed I decided to form my own pool of coins to spread the risk. I was glad I did. I’m up about a 1000%. Initially testing the systems, I saw my original $200 turn into $600. I transferred funds into Coinbase initially and then back out to make sure I could exit. Next, I moved BTC and ETH to Poloniex to trade other coins. I became interested and learned all I could. As of late I have noticed that a rise in BTC price is almost always followed by the other coins and as that happens I’ve seen the BTC drop in price. I am assuming this happens as people need BTC often to trade to the other ALT coins. Some of the trades I made a month ago required me to move into USDT then into the coin I wanted, but in the last few weeks I have seen a rise in the number of coins I can trade directly from BTC.
I find the 24/7 nature of the market place super exciting – to watch your account go up or down 5 -10% in any given day is a thrill ride not for everyone. I personally limit my investments to anywhere from $50 - $200. Yes, it is sooooooo tempting to bet more, but this way I can sleep and not have to worry if it all evaporates, gets hacked, or the latest fork goes into effect.
It has taken me a while to think in terms of BTC as the value these coins are measured against. It’s sort of like the US Dollar being the standard other currencies are measured against (or at least for time being…)
Overall, most coins are rising at an unbelievable rate. I think this is just the beginning - a tipping point has been reached. Even more exciting is the blockchain technology and the many new uses being found every day for it.

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65
  ·  4 months ago

wow thats really exciting news
i'm up maybe 20% all up lol, but I'm happy with that
glad it's working out so well for you

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36
  ·  4 months ago

I also wanted to comment that you have a great writing style that made your piece a pleasurable read. Thank you.

69
  ·  4 months ago

I plunged into cryptocurrency like you.
Let's go together to the future.

67
  ·  4 months ago

What a great article... I can relate to you so vividly and, yet, I have been soaked into this bath for over 10 years now!? As you say so well, the pace is astonishingly fast and stops for no one! I look forward to reading more of your lively articles. Keep on smiling, Steeming and thriving! Namaste :)

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65
  ·  4 months ago

thank you eric :)

65
  ·  4 months ago


Hi @trafalgar, I just stopped back to let you know your post was one of my favourite reads and I included it in my Steemit Ramble. You can read what I wrote about your post here.

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65
  ·  4 months ago

haha thanks for the mention, I checked it out and upvoted

68
  ·  4 months ago

If I was entirely self-absorbed I would thank you for writing a whole post in answer to the mini post I left in your comment section the other day...(did I inspire it? I did! Kidding...mostly. I'll stop.
presumably, only target non painful areas, leaving your painful areas in pain There are a few people on steemit who inspire coffee painfully(now I have pain on the brain) spewing from my nose or just ejecting from my mouth to ruin my shirt, @nonameslefttouse is one, @meesterboom is another, oh @the-oracool, and yay for me I have found another. Some people just have it. My brother does. These words come out of his mouth in a particular arrangement and pace, and it's hysterical. But there's verbal humor and then there's written humor. Oh! I have another post idea for you, do you have the same knack verbally? And can you tell you're funny, do you re-read it and crack yourself up?

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65
  ·  4 months ago

lol i'm actually pretty reluctant to write about crypto as I fear cramming steemit full of crypto posts will drive mainstream users away

had some of these jokes on the back burner for a while and was meaning to use them :)

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68
  ·  4 months ago

I generally do not read crypto posts, much too technical for my right brained self, lol. So I can tell you with absolute assurance that your style of crypto post will not be driving anyone away. @meesterboom is the only other author I've found so far that I can also read crypto posts by, and for the same reason, he's funny and it's done in a way that non-tecchies can understand :)

I'm glad you did, executed to perfection :)

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65
  ·  4 months ago

thanks you're too kind
I still think it's a little off putting to new users seeing half the platform full of crypto posts, so I'm reluctant to contribute to it, and will seldom do so in the future

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68
  ·  4 months ago

I don't disagree. (about it putting new users off, not that I'm too kind...actually maybe a little the second thing..lol) And I imagine there isn't a lot you can say about it that would continue to be funny and entertain the general populace ;)

74
  ·  4 months ago

There are some great one liners in here. That entire 4th paragraph is full of them! I would have to say the "pump and dump" one really sticks out to me though as I have never heard it described like that before... It is a fitting description. :)

Glad to hear that they didn't accept your Clash of Clans gems as payment in that local coffee shop way back when... so that in a round about way you could end up here. Glad to have you my friend! :)

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65
  ·  4 months ago

haha thank you very much jrcornel :)

52
  ·  4 months ago

Very cool! @bitworkers

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65
  ·  4 months ago

thank you :) glad you liked it

66
  ·  4 months ago

Don't put all your eggs in one basket/coin.

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65
  ·  4 months ago

I have to say I should follow this advice, but I'm having trouble finding really good investment candidates

72
  ·  4 months ago

That's a lot to learn in a short time. You have been a great addition to our community.

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65
  ·  4 months ago

Thanks a lot Tom, I hope my lame jokes don't get old too soon
Love your stuff buddy

69
  ·  4 months ago

I got into crypto october 2015, bought an antminer S1 to mine Bitcoin, later on I bought more BTC and Dashminers and I started to trade on Poloniex, thats how I get into Steemit at the end :) Crypto is the future and this is just the beginning :)

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65
  ·  4 months ago

haha damn you went all out! Good for you!
ya I think crypto's got a big future

59
  ·  4 months ago

"Pump and dump" has something to do with crypto? I'm out.

I have been VERY relaxed since I started this though.

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65
  ·  4 months ago

haha :)

68
  ·  4 months ago

gma and crypto, such a neat concept. Good job.

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65
  ·  4 months ago

thanks buddy :)

75
  ·  4 months ago

Here's to your 53 year old foster child! Steem on @trafalgar!

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65
  ·  4 months ago

haha thanks papa
and congrats on the 10k
followed

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75
  ·  4 months ago

Thanks man! Keep up your humorous insight!

69
  ·  4 months ago

Thanks for the info! I learned a lot for myself!

71
  ·  4 months ago

I really enjoy your writing and your sense of humour! It's great to have you on steemit!

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65
  ·  4 months ago

Thank you Kus-Knee, likewise :)

54
  ·  4 months ago

Nice! Is there a fomophobe anonymous group because I think its about time I also admit my fear of missing out.

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65
  ·  4 months ago

haha well fomophobe is the fearing the fear of missing out as they can lose you a lot of money

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54
  ·  4 months ago

Haha aw stink! And here I was thinking I made a witty joke lol Perhaps I shouldve double checked with uncle google first. Thanks for not making me feel stupid though @trafalgar haha respect!

29
  ·  4 months ago

Hi, new to steemit. New to crypto currency as well. Nice to meet you all, thank you for the informative article.

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65
  ·  4 months ago

thanks you for checking it out

66
  ·  4 months ago

I share your feelings. It just happened 2 months ago for me too. I feel like everybody is staring at me in the street. Like I know some dirty secret!

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65
  ·  4 months ago

haha that's probably more to do with the recent murders in your neighborhood though :)

64
  ·  4 months ago

Excellent post! I like your work My friend

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65
  ·  4 months ago

Thanks for checking out my post :)

55
  ·  4 months ago

Great to hear you in! Maybe we can both find some materials about trading and investing in crypto. I've asked, but no answer here.

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65
  ·  4 months ago

Ya I don't really know what else to invest in either

65
  ·  4 months ago

Couldn't quite sum it up myself but this is perfect...

"In this strange world where the Wolf of Wall Street meets Comic-Con"

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65
  ·  4 months ago

haha ya we're all a strange group of misfits :)

71
  ·  4 months ago

cryptocurrency is so new it even has a squiggly red line running underneath it telling me I spelled the word concurrency wrong

Hahaha I know right! Even blockchain gets a red line! Have to write it like block-chain some times just to not see red.

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65
  ·  4 months ago

haha ya they need to fix that one day

65
  ·  4 months ago

LOL crypto world is a whole new world. Like you, I started to discover this new world only recently. 3months on Steemit, 1 month ago my first crypto currency trade. While doing, learning a lot! From the slang you mentioned, to technology "what is good and what is not so good" and again the realisation that BETTER/BEST is not always most valued (PIVX versus Bitcoin for instance). Bitcoin back to all time high versus the others on the rise but not that quick in comparison); Anyway normal market behaviour whether in Energy, Retail or Cryptoworld. And what Crypto in the end is about? In black/white statement: Just a database that is open to public with a historical recording. Of course, in reality a little more difficult then just that, but from helicopter view, just that. And what it can do? Well, change the world dramatically; Crypto in ultimate form will remove our current systems of notaries, financial institutions (central banks and all), and most of all power concentration.

I'm with you that crypto is fascinating, it has its own language, it is the future, and we learn quickly as we go.

Although I'm a newbie to this new and exiting world; Welcome to this world.

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65
  ·  4 months ago

haha well said, hopefully our investments will do well in the future :)

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65
  ·  4 months ago

Sure Sure. We don't know for sure, obviously, but with time comes realisation, comes value, comes return. Im pretty sure about that :)

55
  ·  4 months ago

Good n' Snarky! Welcome aboard.

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65
  ·  4 months ago

Thanks a lot ivor =) glad you enjoyed it

69
  ·  4 months ago

Great read! It's always nice to read how people got into crypto. and I chuckled at: Nigerian prince asking for my credit card details....that's probably how my family sees crypto still.

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65
  ·  4 months ago

haha thanks exyle
hopefully our early adoption pays off :)

71
  ·  4 months ago

Hehe, I got a laugh from this. I experienced similar last year! I do especially like the fear of the fear of missing out!

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65
  ·  4 months ago

thanks meesterboom, like your writing too, followed

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71
  ·  4 months ago

Splendid! Likewise :0)

67
  ·  4 months ago

Congratulations to hit the trending page so fast! I remember when you introduced yourself and I liked all your stories since then . Steem on !!!
That's what I do since I joined in July when it was real fun. I didn't even know what a hardfork was back then.
We all are walking that walk together it seems. Like that Cameo Track : Back and Forth
Enjoy those 80's dance when we used Hard Cash to get some Gin Tonic Not shitcoins.
1999! I finally figured out what an email is.
Fast forward FFFW into the future
Ps: I still know more about music not the Dump and pump rollercoaster rides you all are on.

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65
  ·  4 months ago

Haha yeah it's amazing what 100k can buy eh? :p
i doubt many people would care for my writing if I didn't invest in the platform
thank you :)

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67
  ·  4 months ago

Wow ! I had no idea but I really like you even more now hahaha !!!! Your honesty intrigues me
You deserve my 100% 1 cent vote

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67
  ·  4 months ago

Ups it was only 0.0 cent 🙀

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65
  ·  4 months ago

lol :)

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66
  ·  4 months ago

That's true indeed, but it's nothing bad at the same time: to invest in the platform is very important for its future, so you deserve the attention. I was also curious to read what "the new investor" is writing. :)
Apart from that your writing style is very entertaining, and it seems we share the one or other "bad habit" - at least I also prefer to watch where I am going ... :)

57
  ·  4 months ago

Thanks for sharing..
Greak work.!! Awesome.
Upvote and resteem.

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65
  ·  4 months ago

Thanks again Tina

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57
  ·  4 months ago

You are welcome ^_^

68
  ·  4 months ago

fomophobia is so real! great write-up @trafalgar

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65
  ·  4 months ago

haha thank you, glad you liked that line :)

48
  ·  4 months ago

I've been into CRYPTO for about 2 months now ... I asure u it sucks and u feel like lost and rippled with tons of cryptocurrencies all the internet. Which should i invest 1st. OH it really kills me ... but I am kinda cope with it cuz there is money at the end of the journey.

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65
  ·  4 months ago

haha ya hopefully

25
  ·  4 months ago

I think you made a good move, everyday is closer to the mainstream and having BTC and Ether will be lucrative for the early investor.

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65
  ·  4 months ago

ya hopefully, we shall see what happens in the future :) I'm optimistic

63
  ·  4 months ago

Great post - you make crypto a lolfest:)

I'm trying to get my head around all this stuff and just did a post about it, but now I need a pump and dump


https://steemit.com/cryptocurrency/@sift666/cryptocurrency-101

56
  ·  4 months ago

You just summed it all up perfectly.

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65
  ·  4 months ago

thanks for reading :)

57
  ·  4 months ago

Congratulations! It turns out you already know more than me, thank you that explained some slang.
I still don't understand how the blockchain works and hoh bitcoins appear out of nothing, but it really works and I can use it. And it's great!

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65
  ·  4 months ago

ya it's a pretty amazing piece of technology, hopefully adoption will increase

43
  ·  4 months ago

very nice

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65
  ·  4 months ago

you're too kind

7
  ·  4 months ago

I is great. Everyday I understand more and more and sometimes between the line. Thank you.

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65
  ·  4 months ago

thanks for reading

13
  ·  4 months ago

Good.....

13
  ·  4 months ago

Какие же все тут наивные.....в 11 году надо было дергаться......,.....теперь только копить.....спекуляция против ВАС.....ТОЛЬКО КОПИТЬ.....и только BTC!!!!!....СКОРО УБЕДИТЕСЬ..))

46
  ·  4 months ago

Cryptocurrencies are indeed the future, for those who want to easily invest in Bitcoin or Ethereum, and much more... this is an awesome website: https://ethtrade.org/@316773

56
  ·  4 months ago

I'm a new user, and so new in these thing of blockchains, bitcoins and cryptocurrency. In fact, I've exposed in my Steemit blog my doubts about OpenLedger, trusting in the experience of the community itself; until now I didn't receive any answer, but I hope that someone could help me in the matter.

By the way, interesting article! :) I'm following you!