Hello,
This is not a magic
ebook like many others. This ebook will give you information on Bitcoin and
how to use/invest in it to give maximum return and more profits. Any
method promises 6 000 000 USD through no work is a lie. I will teach you
the ins and outs of Bitcoin and hopefully you will (and if you follow this you
will) earn more money. When though I make this clear in the guide the rule
of thumb is the following and is imperative to you succeeding.
- Don’t EVER be complusive
- Don’t EVER panic sell
- Don’t EVER believe troll box propaganda
- Don’t EVER waste money on scam coins/other crypto-coins
- Don’t ONLY ever have either fiat or crypto
- Don’t trade on sketchy sites
- PATIENCE
- Calm and collected observation
- Do your own research
- DON’T buy into pumps and dumps
I hope you enjoy this ebook!
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What is Bitcoin?
Bitcoin is a peer-to-peer payment system and digital currency that is created
through mining on either a CPU or GPU in which the computer will solve complex
mathematical problems and algorithms in order to mine a ‘block’. Bitcoin uses
software known as ‘wallets’ in which through the decentralized system of Bitcoin
your coins and not counted but tallied, meaning instead of a centralized system
checking you for a valid number of coins it will view all your transactions (as
they’re public) and will use these to determine how many Bitcoins you actually
have. Now you ask why is this information even relevant to speculation? Well, I
will tell you. This is a philosophical statement, it will and cannot be ever used as
valid currency due to it’s inherent problems. Yet we can still view this as an
experiment. The network of Bitcoin is completely decentralized on the basis that
there is no central bank giving out or generating the coins. This is big, very big.
This is something people have had always discussed (as banks are viewed as
corrupt entities, and really, who denies this?) and so people really are interested
in this. No central bank. Anonymous in the fact anyone can make a wallet with
ease and never give any information. Etc. This makes people buy into the Bitcoin
market as they find it’s zeal revolutionary and often it is in alignment with their
political ideology. What does this tell us exactly? It means that for the time being
and while the experiment if you will is continuing, people will continue to buy into
Bitcoin for these reasons ensuring a constant flow. In a way this is like a
guarantee on your investment if you invest at the right time which I will discuss in
another section of this ebook. With the understanding of the philosophical and
political repercussions of Bitcoin you will be better equipped to understand
Bitcoin.
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What is speculation?
Speculation is the practice of engaging in risky financial transactions in an
attempt to profit from short or medium term fluctuations in the market value of a
tradable good such as a financial instrument, rather than attempting to profit from
the underlying financial attributes embodied in the instrument such as capital
gains, interest, or dividends. (Source: Wikipedia.org). Now what is the difference
between speculation and investments? It is the margin of risk you are willing to
shoulder. Investments are usually longer term and are considered generally safe
choices. But this is for the more traditional type of investment like stocks. We are
not dealing with a stock, we are dealing with a cryptocurrency which is valued in
USD. If you are already familiar with Bitcoin you will know that the Bitcoin market
is very, very volatile and you can make a lot of money or quickly lose everything
you invested. The type of investments I am going to teach you are ones whom
are very short term and will yield small profits but at the same time will
accumulate into a large profit. But we can look at it another way, if we speculate
Bitcoin we are effectively (as the name implies) inspecting the price of Bitcoin in
the hopes that it will rise and will give a handsome ROI. Knowing how to
speculate the price will greatly help you in investing into Bitcoin.
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Why bother speculating it?
This is a great question undoubtably asked by some of you,
“why bother speculate Bitcoin, isn’t it no different from any other stock?”. The
Bitcoin market is very volatile, very volatile and it is very rare for anyone to ever
see this much price fluctuation in a ‘stock’ (to make it simple we’ll consider
Bitcoin “stock”). In one day Bitcoin can either surge $100 in ‘stock’ price or it can
lose 50% of it’s value, making this very attractive to those whom like to speculate
prices. You can turn a lot of profit from speculating it and the market almost
always corrects itself if you it does lose value, patience will be your friend.
Because of this it is no wonder why more people are actively speculating Bitcoin
everyday.
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Where to purchase BTC safely?
There are several places in which you can purchase BTC safely. One such place
I commonly use is VirWox (https://www.virwox.com/). This is the safest and
fastest way to obtain BTC in my opinion. The way you purchase the BTC is to
sign up --> login --> under ‘My Account:’ find ‘Deposit’ --> Click that --> You now
have several options to deposit money (most people have these basic online
banking businesses such as paypal) --> You then deposit the USD --> Go to
‘Exchange:’ and you will find ‘USD/SLL’ --> Convert all your USD into SLL
(Linden Dollars) --> The find ‘BTC/SLL’ --> Then convert all your SLL into BTC -->
You’re done, you have BTC from using your CC or Paypal from a trusted source.
The first time you withdraw BTC from the site you’ll have to wait 48 hours for
security reasons. This is by far the safest and best method I have came across
unless you wish to use your bank account to transfer funds to an exchange
(Which I advise against).
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Where to exchange?
My favourite site is BTC-e.com/ru. The rates are the lowest on the market and
the fees are minimal. There is a great and constant flow of exchanges. This site
has always been on time with giving out payments with me and I think you would
like it too. Other exchanges are often corrupt, unsafe, or they don’t allow you to
withdraw your money like MtGox. It is straight forward to make an account and
exchange, don’t look at the chat box othewise known as the ‘troll box’ because
many people there just spread misinformation to make you sell or buy for them to
make profit and make you lose.
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Where to find BTC price graphs/maps?
I personally use http://bitcoinwisdom.com/markets/btce/btcrur as the place to
view the current price and rates of BTC with РУБ or USD. This provides you with
a very nice overview of the latest exchanges and prices of the market. The
optimal settings I suggest is for each candle to be separated is 15 minutes to see
the price changes. When you get out and buy in as I will detail later in this ebook
I will tell you the best settings to view the trends.
When to invest?
Please look at the graph below to learn when to invest your money into BTC.
The trick is that the market usually almost always recovers if it crashes, so don’t
be too cocky and don’t buy in at unusually large prices. However in this market
and in stocks in general (as well as life) patients will be your greatest asset. Don’t
compulsively or panic sell, I repeat, NEVER PANIC SELL. Again don’t buy in
when the price is already at high levels that are not with the current trend of
prices. On BTCwisdom it is encouraged to use the day timer to see the opening
and closing prices of the day. Making 15 minute trades are not profitable and will
not help you. You can also to feel safe look at the current news, for example
China Central Bank debarred people from using virtual currencies such as BTC
which caused a massive shock in the market that dropped prices and made
many people lose money due to less exchange volume from China which fueled
the price to inflate. This is the most crucial step next when to get out, if you need
help to determine when you buy in or invest please consult me and I can help
you with pointers.
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How to read the graphs?
If you ever get largely into stock trading or speculation you will see a reoccurring
and popular graph system to represent value known as the candle stick graph
system. If you understand it, it will greatly help and you will be undoubtably learn
how to master the market. The funny thing is that many people don’t know how to
read these graphs and don’t look at the hints if provides you. This is a folly that
causes many to lose their money. This is an entire field and I can help you if you
wish to inquiry more about it- but there are many videos which make it was easy
to learn and I will link them here so you don’t have to do any searching. (I
recommend that you take notes from these videos and place them in front of you
as there are certain patterns that will help you see the direction of the market).
Candlesticks Vol 1 - Candlestick Design
http://www.youtube.com/watch?v=k9AlAvYa6MA
Candlesticks Vol 2 - Candlestick Sentiment
http://www.youtube.com/watch?v=v2TkJDseG8I
Candlesticks Vol 3 - Candle Development
http://www.youtube.com/watch?v=enPN5pIeGMo
Candlesticks - Vol 4 - Candle Pattern Stages
http://www.youtube.com/watch?v=r8HRouyRKsg
Candlesticks - Vol 5 - Shooting Star
http://www.youtube.com/watch?v=mt2_bm2Xy-4
Candlesticks - Vol 6 - Hanging Man
http://www.youtube.com/watch?v=_wg_NjFj1gk
Candlesticks - Vol 7 - Hammer
http://www.youtube.com/watch?v=wHDgt2HYpnk
Candlesticks - Vol 8 - Inverted Hammer
http://www.youtube.com/watch?v=xTP9gQ_6Sjg
Candlesticks - Vol 9 - Doji
http://www.youtube.com/watch?v=dWkSRpkU_Os
Candlesticks - Vol 10 - Harami
http://www.youtube.com/watch?v=WMwIHgV_FnU
Candlesticks - Vol 11 - Dark Cloud Cover
http://www.youtube.com/watch?v=9fJyoez8j7c
Candlesticks - Vol 12 - Piercing Pattern
http://www.youtube.com/watch?v=oaZ-BUoSu1s
Candlestick Charting - Vol 13 - Bearish Engulfing Pattern
http://www.youtube.com/watch?v=q77CUI8AeHk
Candlestick Charting - Vol 14 - Bullish Engulfing Pattern
http://www.youtube.com/watch?v=17V_5Y2rweA
Candlestick Charting - Vol 15 - Evening Star
http://www.youtube.com/watch?v=bkfg7icb6J4
Candlestick Charting - Volume 16 - Morning Star
http://www.youtube.com/watch?v=hoieLD74QTQ
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How to use the news to predict the future of the coin
Like any stock in any market it Bitcoin is also highly influenced by news. It is also
fairly straight forward and you need not to be an expert on this information. Good
news usually will mean an increase in price (I.e Country embraces Bitcoin), bad
news usually will mean a decrease in price (I.e Country bans Bitcoin). It is good
practice to keep a list of readily available sources for the news. Here are a list of
news outlets I personally use that are dedicated to Bitcoin related topics.
A forum that you can give questions or inquiries about Bitcoin to, and also view
news and happenings. There are many knowledgeable users here.
https://bitcointalk.org/
A twitter that gives some news about Bitcoin.
https://twitter.com/bitcoinnews
Twitter like site that gives some news about Bitcoin, isn’t always updated
unfortunately.
http://www.breakingnews.com/topic/bitcoin/
Another twitter that is updated almost everyday with an interesting article or
news.
https://twitter.com/BTCNews247
Last but not least reddit. Reddit is one of the largest communities online and has
a sub-forum dedicated to Bitcoin. This forum has thousands of users and has a
constant flow of information about Bitcoin added- this is my most used source. It
also provides some interesting links and funny threads.
http://www.reddit.com/r/Bitcoin/
These will give you when combined 24/7 news coverage of Bitcoin related news
which will be your greatest ally when investing. Remember, when there is bad
news it does not mean to pull out, sometimes a drop in price is a blessing in
disguise.
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When to get out?
When do you get out? This is a question that many people actually cannot
answer for you, and I will admit, this will be a task for me. Personally I believe
that you should be in for the long run- panic selling is very destructive not only to
your finances but to the market collectively hurting everyone else which will also
hurt you. I HIGHLY suggest that you have in your exchange account a
combination of fiat and bitcoin to make sure that you can invest more and pull out
whenever needed. Make sure to remain calm in the situation and review
everything. If you need money it is best not to pull out all your Bitcoin into fiat.
Again, if you need help determining when to do this as every situtation is different
contact me.
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How to exchange BTC with high rates?
Last but not least there is the time when you have withdrawn your invested
Bitcoin. Now you could have had converted it into RUR (or USD for my
Americans) on BTC-e or whatever exchange site you use-- you now have one
last option to maximize your profits and that includes using the very site you most
likely got this ebook from: http://www.hackforums.net with this site there is a
currency exchange that is vibrant and many people use this to exchange. People
are also desperate for Bitcoin more than any other place I have seen in this
section which is found here: http://www.hackforums.net/forumdisplay.php?
fid=182 You will need to make an account if you do not have one and post a
thread in the section. I will provide a template for you so you do not need to go
through the troubles of this process.
Thread title:
H: Currency you want to exchange N: Currency you’re going to exchange for
(use the payment processor to tell, I.e PP = Paypal)
Ie. H: BTC N: PP
Thread body:
