Cryptocurrency guide reddit
Well, a story was a thing, a real thing-you could think of it like that, anyway, especially if someone had paid you for it-but in another, more important, way, it wasn't a thing at all. It wasn't like a vase, or a chair, or an automobile. It was ink on paper, but it wasn't the ink and it wasn't the paper. People sometimes asked him where he got his ideas, and although he scoffed at the question, it always made him feel vaguely ashamed, vaguely spurious.
They seemed to feel there was a Central Idea Dump somewhere just as there was supposed to be an elephant graveyard somewhere, and a fabled lost city of gold somewhere else , and he must have a secret map which allowed him to get there and back, but Mort knew better. He could remember where he had been when certain ideas came to him, and he knew that the idea was often the result of seeing or sensing some odd connection between objects or events or people which had never seemed to have the slightest connection before, but that was the best he could do.
As to why he should see these connections or want to make stories out of them after he had His last thought before drifting off was a repeat: He's not done with me yet. Oh no, not this guy. He's a repeater. I am confident I can take care of this business, Shooter said as they advanced on him with their knives raised. I'm sure that, in time, your death will be a mystery even to us. But when you got a story idea, no one gave you a bill of sale. There was no provenance to be traced. Why would there be?
Nobody gave you a bill of sale when you got something for free. You charged whoever wanted to buy that thing from you-oh yes, all the traffic would bear, and a little more than that, if you could, to make up for all the times the bastards shorted you-magazines, newspapers, book publishers, movie companies.
But the item came to you free, clear, and unencumbered. That was it, he decided. That was why he felt guilty even though he knew he hadn't plagiarized Farmer John Shooter's story. He felt guilty because writing stories had always felt a little bit like stealing, and probably always would. John Shooter just happened to be the first person to show up on his doorstep and accuse him of it right out loud.
He thought that, subconsciously, he had been expecting something like this for years. Ahead of him, the corn on both sides of the row shook and rustled. Amy stepped out from one side. John Shooter stepped out from the other. Both of them held knives. What About Crypto-Related Subreddits?
Seeing that the crypto community has taken a liking to Reddit, crypto firms and information portals have also joined the bandwagon. Likewise, individuals or groups can create crypto Subreddits and establish a crypto theme for it. How Does Reddit Works? Reddit has lots of features that enable a truly informative and satisfying experience.
An unregistered visitor can access trending posts from various Subreddits on the home page, click the embedded link of the posts, or view full-sized pictures. Accompanying each post is an upvote or downvote tracker that shows you the number of positive and negative feedback the post has garnered. In most cases, these buttons indicate the relevance of the post or comment on the topics at hand.
Utilizing this tool is a simple way of informing other users that exploring a post is worthwhile or a complete waste of time. As expected, the Reddit search algorithm factors in the number of upvotes, as well as downvotes, while ranking the visibility of posts.
In other words, the capacity of a post to garner more upvotes relative to its downvotes would determine whether it pops up on the homepage feeds or search results. Furthermore, you can filter the content available on your frontpage by choosing from other tabs available on the site. While contributing to a Subreddit, be sure to follow the rules governing the conduct of its members. Each Subreddit has moderators who volunteer to set rules of engagement, picks designs, and have the responsibility of kicking defaulting members out.
For instance, some strict Subreddits may not fancy links and spam messages. And so, moderators may ban members found breaking such rules. Although these individuals are responsible for managing their respective Subreddits, the Reddit team governs the entirety of the platform. Hence, they have the power to remove moderators, ban users from contributing to the platform, and alter the governing rules of the platform as they deem fit.
Reddit Supports Various Means of Communication One of the reasons why crypto practitioners love using the Reddit platform is because it allows users to post videos, links, texts, and pictures. With this, users can pick the most suitable way to explain a situation and educate other members. This notion is particularly true for Subreddits, which members post crypto charts and crypto tutorials. They can either post videos directly or submit a link to a YouTube video.
The Crypto Community on Reddit Are Voracious Consumers of Information Crypto firms and news platforms are aware that news probably filters through the Reddit platform faster than other social networks. Hence, they have dedicated resources to tracking the happenings in crypto Subreddits to gain insight into the sentiments gaining steam in the crypto community.
With this, they can gauge the type of services or contents that strikes a chord with the crypto community. Crypto Reddits is the right platform to build a strong personality in the crypto space Crypto experts contribute to different crypto Subreddits regularly, to boost their visibility. They know that the more they post meaningful and insightful information relating to cryptocurrency, the more people would revel in their knowledge and trust their judgments.
Needless to say, this bodes well for them and their affiliate firms and projects. Having introduced you to the various workings of the Reddit platform and its growing popularity in the crypto community, this section will explore factors that you should consider when choosing a crypto Subreddits.
So, it is imperative to consider the crypto niche the Subreddit tackles or discusses. In light of this, it is advisable to determine the core requirements to succeed in your chosen crypto profession or niche. Then, ensure that your chosen Subreddits offers resources that will help you scale these requirements.
Take for instance a crypto trader. He is aware that he would need to access prompt and reliable news, quality crypto signals, information portals to crypto exchanges, and development reports relating cryptocurrencies that make up his portfolio. Having collated his core needs, it is safe to say that the Subreddits that best suits him are those which are the best crypto exchange Reddit.
It is not enough to join a Subreddit that facilitates discussions that relate to your chosen crypto field. Instead, we advise that you explore the activity of the Subreddit and gauge the willingness of the members to contribute to the community. Chances are, Subreddits with more subscribers would offer little or nothing to your crypto activities.
Therefore, rather than subject yourself to a harrowing experience on these Subreddits, it is advisable to take the time to verify its members' responsiveness.
Consider, that today betting line are
FINANCIAL SPREAD BETTING SITES
With your private key, and seed phrase intact, you should be able to restore any wallet painlessly enough. Pros of Hot Storage A wide number of options, and support for different devices. User-friendly UIs make sending and receiving simple. Cons of Hot Storage Exposed to cybercrime.
Sophisticated hackers, ransomware, and other malicious actors are a constant threat. Damaging the device could destroy the wallet. Without carefully backing up private keys, and seed words you could permanently lose your cryptocurrency investment. For those seeking the most secure form of storage, cold wallets are the way to go. Given the amount of attention that cryptocurrency has been receiving over the last few years, it has unfortunately piqued the interest of attackers.
What are hardware and paper wallets? You will get to know about it in a minute. It provides a safety net against hackers and people with malicious intent since it is completely offline. Cons of Cold Storage It is still susceptible to external damage, theft and general human carelessness.
It is not ideal for quick and daily transactions. Setting it up can be a little intimidating for beginners. They come in a few forms but the most common is the USB stick style typified by the Nano Ledger series. Although many swear by them, hardware wallets are still prone to compromise. This applies to those bought from the company themselves, but particularly if a hardware wallet has been acquired second hand. Under no circumstances should anyone ever use a pre-owned hardware wallet.
Although loss or damage can spell disaster for the unprepared, hardware wallets can be restored. You should keep restoration details in a safe place that only you, and anyone you plan to leave the money to know about. Remember, your restoration details open the wallet. Think very carefully about who if anyone you share them with. Here are some hardware wallets that you can use: Ledger Nano X Keepkey.
Paper Wallets for Safety Without a doubt, the safest way to store any cryptocurrency is by using a paper wallet. By following a few pointers below, you can set one up entirely for free. Of course, this means that keeping a record of them is even more important. What Is a Paper Wallet? To keep it very simple, paper wallets are an offline cold storage method of saving cryptocurrency.
It includes printing out your public and private keys in a piece of paper which you then store and save in a secure place. The keys are printed in the form of QR codes which you can scan in the future for all your transactions. The reason why it is so safe is that it gives complete control to you, the user.
You do not need to worry about the well-being of a piece of hardware, nor do you have to worry about hackers or any piece of malware. You just need to take care of a piece of paper. Do You Need a Paper Wallet? The answer to this question will largely depend on your circumstances. The paper wallets that you can use are as follows: For Bitcoin , Litecoin, Dogecoin etc.
Do I Need to Do Crypto taxes? Disclaimer: We are no tax bureau nor tax consultants. If you have issues with taxes, and if large sums are at stake, you better ask your local tax consultant. Right now there are only a few tax consultants who know how to deal with cryptocurrencies. But it can be safely assumed that the number is growing quickly and that cryptocurrencies will soon be a standard issue for tax experts like securities, shares, ETFs and real estates are.
All we can provide here is an overview of the typical issues with cryptocurrencies and taxes. No Free Lunch Nothing is for certain, except death and taxes, and crypto is no exception. If you earn money by investing in cryptocurrencies, you likely have to pay taxes. Cryptocurrency investment tax returns are dependant on your regional and national tax regulations.
Nearly every country of the world exempts cryptocurrencies from VAT. Another piece of good news is that in some jurisdictions you have to pay nearly no taxes. Amazingly Germany, a country usually known for very high tax rates, has become a tax haven for cryptocurrencies.
Like the USA and many other countries, Germany considers Bitcoin not a financial product, but a property. You bought 10 Bitcoins for 1, Euro and sold them for 2,? Your taxable income increased by 10, Euro. You bought one bitcoin for Euro and ordered a Euro-pizza when the price was 1, Euro? Your income increased by 9 Euro. In most cases, the tax rate for this is higher than for financial gains.
However, there is a loophole. This rule was added to dis-incentivize day trading of other properties and stabilize prices by incentivizing holders. For cryptocurrencies it made Germany, and also the Netherlands, which apply the same rules, to tax havens. Some countries might have similar rules. In doubt, your tax advisor can help you out. One problem the one year rule poses is that you need to prove that you hold the crypto for this timeframe.
Usually, exchanges can help you with prints of your trade history. Also, you can use the public blockchain as proof of storage. In most cryptocurrencies, it is transparent when coins are received and spent by a particular address. But not in all. For example, Monero uses Ring Signatures and Confidential Transactions, which are great tools to maintain anonymity.
But the downside is that they make it more or less impossible to prove that you hold coins for more than one year. Maybe you take this into account when selecting coins for your portfolio. Conclusion: How To Invest in Cryptocurrency If you use a good exchange and keep track of your trades, taxing Bitcoin is possible, but also complicated.
You need to calculate every single profit, not just from cryptocurrency trading, but also from using Bitcoins to pay for things. Things become really a complicated nightmare if it comes to Altcoins. For the tax authorities, an Altcoin counts like Bitcoin.
In most countries, this means it is not a financial product, but a property. If you buy it with Bitcoin and sell it for Bitcoin, you have to tax the difference, but not in Bitcoin, but in Dollar or your national paper money. This means, you not only need to keep track of all your Altcoin trades, but you also need to take into account the price of Bitcoin when buying and selling. Obviously, this makes things extremely complicated.
You can have a bad trade, resulting in getting less Bitcoin back than you invested, but being still, in theory, accountable to taxes, when the price of Bitcoin did soar between your trades. So you lost money in cryptocurrency trading but have to pay taxes for it.
At this moment you should accept the fact that cryptocurrencies are something new and that you are no expert in dealing with your financial authorities. Go for a tax consultant, educate her or him about cryptocurrencies and look forward to talking with confused financial authority officials. Matthew Baggetta Matthew is a B2B SaaS content strategist currently working as an Editor at a major financial technology services company.
Before that, he worked at Blockgeeks as their Chief Content Officer; where he successfully created the most comprehensive and accessible library of crypto and blockchain courses in the world. Matthew is all about helping organizations master their buyer's journey and helping to create strategic content plans that achieve measurable business outcomes.
He knows how to write a piece that readers will want to read and generate organic traffic. Creating high-ranking content is what Matthew enjoys but one day he aspires to travel the world and live off the radar. Like what you read? One of the larger and more active crypto communities on Reddit. With one of the larger membership bases, this is the place to get all the latest information on the bankers cryptocurrency.
The network uses its proprietary token, Lumens , to facilitate international transfers and remittances. The coin was born from scientific scrutiny and, in theory, addresses all the shortcomings of the tokens that came before it. One of the reasons it has gained such a foothold in the market is the passionate Dogecoin community - so it stands to reason it has a large and active subreddit. The subreddit is an engaging and active forum that discusses everything from the Tron architecture to celebrity endorsements.
The EOS subreddit is an active community that discusses the many technical aspects of the network and its native token. Pros And Cons Of Reddit Reddit is a fantastic source of unfiltered information from the various cryptocurrency communities.
Therefore there are plenty of alternatives to Reddit that are worth exploring. In fact, many subreddits - including SatoshiStreetBets - have additional web presence, with accounts on Twitter and Telegram, for example. The decentralised nature of cryptocurrency makes discussion boards and chats particularly relevant. Many developments within the cryptocurrency world - especially tokens that have not been developed by a parent organisation - are born from various communities.
As such, anyone serious about getting to grips with the industry will need to know where the big discussions are taking place - whether they be on Reddit, Twitter or any other message boards or social media platforms.
Conclusion Ultimately, Reddit is another information resource that cryptocurrency investors can draw upon. The discussions are often in-depth, forthright and up-to-the-minute. Of course, you cannot trust everything you read - as with any news source - but more often than not, any spurious claims made on Reddit are quickly picked apart by the community.
The incidents with GameStop and Dogecoin also show the increasing power that internet communities have on the financial markets - those who profited as a result of both buying frenzies would certainly have been those who were in at the bottom, so to speak, whilst anyone not monitoring the situation on Reddit would have been late to the party.
FAQs Is Reddit a good source of information for cryptocurrency? Any investor knows the importance of keeping up to date with the markets. When it comes to cryptocurrency, however, it is often the case that breaking news comes from alternative sources. Aside from the very biggest stories, nascent crypto movements rarely make the mainstream press.
Reddit is one such source. The cryptocurrency community is particularly active online and there are numerous subreddits that provide insights into aspects of the market that you may not find elsewhere - just remember to bear in mind who the information is coming from. Where can I find the latest information on Bitcoin? There are numerous sources of information for Bitcoin and it receives more mainstream coverage than any altcoin. How do I find out more about investing in cryptocurrency?
Many brokers, such as eToro, will offer plenty of learning resources. Alternatively, you can reach out to the community and try group discussions and forums to get the answers you are looking for.
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