Is Investing In Cryptocurrencies Really Investing

From a personal finance perspective, cryptocurrency trading and investing is not for the slight of heart.  Daily gains and losses can exceed 50% at times.

Although much of the alt coin market has “calmed down” towards the end of 2015, it is still possible to see an alt coin rise (or fall) as much as 25% in just a few hours.

Bitcoin, Litecoin, and Dogecoin (the three standard bearers) in this realm seem to have bottomed and begun a slow climb upwards again.

Bitcoin is the leader in this regard, but if one looks at a chart of Dogecoin or Litecoin it may appear that they are going sideways at best, but one has to remember that even though the Satoshi price in different alt coins may look to be flat the price is actually rising if Bitcoin itself is rising as most people look at prices (and price charts) in “Satoshis”.

There’s no doubt in many people’s minds that cryptocurrencies are here to stay – for a beginner’s look at how to buy Bitcoin with a credit card so you can start making money with cryprocurrencies see this Cryptolix article.

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Bitcoin and Alt Coin Trading

It’s been some time since I wrote that article about Bitcoin gaming on this site – I’ve been busy learning how to buy and sell alt coins these past days and it’s been quite an experience.

I have discovered that there is more consistent money to be made in the trading of cryptocurrencies (one for another) rather than just using one kind – whether it is Bitcoin, Litecoin, Dogecoin, or others, at the seemingly rigged online casino game sites.

Cryptocurrency Trading

I found some real nice beginner trader how-to video put out by a company by the aptly named Cryptolix.  I guess since I am a guitar guy I am drawn to anything with “lix” (as in guitar licks – lol) in it.

Here’s a good How To Trade On A Cryptocurrency Exchange Video

How To Fund An Account

The following video is about and exchange called Bleutrade, but I imagine that most exchanges are very similar.

I have been having fun following Cryptolix on Twitter and what they talk about. Lots of easy to understand stuff – and some that I have no clue what it’s all about – lol.

If you have a trader’s mindset – or even if you get the gambling bug every now and then like I do you might want to check out what this Bitcoin and cryptocurrency stuff is all about.

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A (Bad) Beat Experience – Is Online Poker Back?

I’ve been doing research lately on crypto currencies (Bitcoin, etc) and have come across many interesting facts.

Online Poker and Gambling

bitcoin, litecoin, dogecoin poker pictureMy research (somehow) took me into the realm of online gambling – I used to play online poker back in the day – and up until the recent past (after online poker’s black friday) in order to “get my poker fix” I had to travel over an hour to the nearest casino to play.

The Bad Beat

The thing about this is – I am lucky enough to have a casino that close to me unlike many other poker players in the world, but this particular casino only has their poker table open one night a week.  If I want to play poker then I can only go on a Friday night and the guys that play there are sharks – if I don’t get taken for all I have (because I don’t play very often) then I always seem to lose my money to a “bad beat”.

Not that I mind.  Every time I play any sort of casino game I figure my money as entertainment only money, but still, the local casino stakes are high and I am more of a $1 – $2 blinds kind of guy.

Play Anytime You Want (once again)

Now that anyone can anonymously obtain and use cryptocurrencies online and anywhere in the world (for the most part – for now – until the Government stamps them out – competition you know) there are getting to be all kinds of online poker rooms (and other casino games) that one can play in.  Just not that many good ones you can trust.

The Hard Part

There are still a couple of things that make this amazing development not all that amazing.

  1. You have to figure out how to obtain cryptocurrency. (not that hard – takes a bit of time)
  2. You have to learn what “crypto” these casinos and online poker rooms accept.
  3. You have to learn how to move your newly acquired crypto around on the internet.
  4. If you don’t have the proper type of crypto you have to learn how to exchange it for the right kind.

Because It’s Hard

Because of the four above mentioned points you won’t find too many of these online poker rooms that accept bitcoin, litecoin, dogecoin, etc. have very many players in them.  There are a couple seemingly good ones that had a few tables open and a couple of dozen players, but I did find one that had over 300 poker players playing in a bitcoin and litecoin casino.

More Info

The numbers of players is sure to grow over time as more people figure out how all of this “Crypto” stuff works.

I did find a good article about online casinos and gambling that talks a little bit more in regards to cryptocurrency gambling, online and mobile phone casinos, etc.  Click Here to check it out.

Online Cryptocurrency Poker Video

Soon to come…

 

 

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