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/biz/ - Business & Finance

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26070054 No.26070054 [Reply] [Original]

Help a boomer understand this.

Why do most posters here, when showing their wallet have bitcoin funds spread over different acronyms? can't you just buy a set amount and watch it grow? what is the point of all these different symbols and names? why are some worth more than others when bitcoin is 1 currency?

I'm looking to put around 30k into bitcoin and so far it seems that Electrum + a Trezor is a good way to start, but it seems like you guys diversify WHO or which place to buy your coins from. Is it possible to just buy 30k worth from a single place?

>> No.26070381
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26070381

>bitcoin funds
>why are some worth more than others when bitcoin is 1 currency
you have misundestod something fundamental but i can't pinpoint what it might be.. can't really see how you'd end up with those conclusions
>Is it possible to just buy 30k worth from a single place
yes of course (coinbase, binance, kraken, etc). imo you should just do that. if you want to diversify, do it after understanding the basic concepts

>> No.26070462

Trying too hard

>> No.26070497

>>26070054
what the fuck

>> No.26070517

>>26070054
Half the people buy them for the same reason people buy penny stocks. The other half want success in the "Next Google(tm)".

For their volatility. For good or for bad,

Different "coins" are usually liquidity used for different "projects".

Like eBay vs. Amazon. The same, but not the same. At all.

Most people are just looking to compound their gains. Low-value low-issued coins are a way to do that...

>> No.26070573

I don't think he's baiting bros

>> No.26070662

>>26070054
Those are all different cryptocurrencies. Bitcoin was just the one that started it all. Most cryptocurrencies are shit. Some are promising, e.g. the top 10 for instance. The ultimate prize is finding a top crypto before it gains in value.

>> No.26070780
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26070780

>>26070054
You have to buy all those to make bitcoin “work”. All those other names are fixes to bitcoins code otherwise you can’t buy bitcoin. First you have to buy LINK. It’s code so that you can read bitcoins code, then you have to buy DOT. It fixes other problems, don’t worry. This is all necessary for bitcoin to work or else it’s just useless 1s and 0s. The rest of those coins fixes minor issues Satoshi forgot to fix before taking off to Mongolia. Ask for more advice. You’re first 30k should be buying those other names FIRST. Then you buy bitcoin.

>> No.26070831
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26070831

>>26070381
wtf good advice in my biz

>> No.26071169

Here is another boomer tier question, how do I get my portfolio to transfer over from coinbase to coinbase pro? I’ll log into coinbase pro with the same account but my portfolio is $0? Do you have to authenticate it somehow?