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Overview of Major Risks of Buying Nyancoins - Version 6

This is the sixth version of the NYAN risks document (based on v5 (v4 (v3 , v2 and original)). These are obsoleted periodically as the old ones get archived to allow for comments again via a new post, to re-examine the risks in light of changes, and for greater visibility.
The purpose of these documents is to provide a best-effort discussion of major risk factors in gambling on NYAN, modeled on the risks disclosure in a 10k (annual report) which is mandated for publicly traded companies in the United States. This document is provided with no guarantee that major risk factors have not been missed, and it is important to recognize my (coinaday) personal bias from holding about one-third of the total supply of NYAN.
Please comment on any risks which are not mentioned here or additional aspects of risks here you think should be further emphasized or any other possible disclosure you think would be helpful to a person considering gambling on NYAN.
Executive summary
Nyancoins have no exchange, no core developer at the moment, uncertain demand, have had inconsistent blocks, are very vulnerable to 51% attacks, have the potential for serious bugs, an uncertain legal situation, concentrated ownership, low liquidity, depend upon the Internet, may be addictive, and could make you wealthy, which has been alleged to lead to more problems.
Introduction: This is my best attempt to collect every major risk factor from buying Nyancoins, although I can offer no warranty of fitness for this information for any purposes. I believe in honesty and forthrightness. Having this available and obvious is a simple matter of basic decency. Much, hopefully all, of this information has been discussed previously in /nyancoins, but this document in particular is about being up-to-date and central. This page will be updated clearly as appropriate if situations change on a best-effort basis (which may mean updates do not happen for months at times, unfortunately; please ping for faster updates).
If you believe that I am missing something, please note any other major risks you see in the comments.
Nyancoins are not currently traded on any exchange. It may be listed on one minor exchange but have no volume there. Obviously an unlisted cryptocurrency is in a bad situation. I hope to see us gain a listing on an exchange which supports low volume coins in 2020 but I have no current prospect of this and it should be considered a longshot at best.
Previously we traded on Trade Satoshi and prior to that on Cryptopia and prior to that on Cryptsy. All three exchanges failed us (Trade Satoshi delisted without allowing withdrawal; Cryptopia delisted and failed to provide withdrawal and then went bankrupt; Cryptsy went bankrupt). This is a further reminder that exchanges are a major risk and one should be extremely careful to not keep more coins on there than one can comfortably afford to lose.
In theory, there are decentralized exchange technologies, notably CATE; however, I think we currently lack some needed APIs for this. I'm not certain but we haven't demonstrated the capability yet. On-Reddit exchanges are also possible with tipbots, but require trust as they are not atomic. It should be possible to build an "exchangebot" similarly, although I'm not currently aware of one, but my concept would still have the bot as a trusted central party.
Atomic cross-chain transactions seem to me like a very promising core technology ultimately for building exchanges which can be more proveably secure. They could also allow exchanges to share a common listing protocol as well without having to trust the other exchanges (at least, beyond the core protocol development and maintenance; tanstaafl). This is not yet accomplished though and in the meantime we remain vulnerable to periodic exchange failures.
Core developer: Although we have good general tech support in this community and have put up supporting infrastructure, there is not anyone officially currently working on core client code. This is a significant problem for the long-term, although we are not in any immediate known need of changes.
ImASharkRawwwr has returned to the community and may do future client updates, but I'm leaving the lack of core developer risk unchanged until there is an update released. This is not intended as a slight in any way but merely being cautious in the risks document and recognizing that we aren't certain when or if there will be a next release.
Demand: NYAN was introduced in 2014 and during the second half of that year had so little demand that it almost died out. In January 2015 I got involved in the coin and for most of 2015 and 2016 I was the majority of the buying pressure. I base these statements on my recollection of the trading history so far and the fact that I have acquired more than 120 million coins, somewhere around 41% of the coins (latest hodling report, June 2017), as well as my observations that I had usually had the leading major bid, and usually the leading bid regardless of size.
In 2017, I have generally not been a major factor in the demand, as I haven’t had money to spare to gamble on NYAN. In June 2017, we have had a spike in buying from an unknown source.
It is unknown whether significant demand for NYAN will continue. Because its value is purely speculative, it is entirely possible that demand for NYAN could simply end. This is a fundamental risk in gambling on NYAN; it is entirely possible that its value will go to zero and not recover.
By the end of 2019, we lost exchange listing. I know of no current demand for NYAN. I hope to see us listed and demand exist in the future but should not be relied upon. NYAN last traded around 9 satoshi according to coinmarketcap but it may well not even trade that high even if relisted someday - there could be a flood of selling and no buyers.
Inconsistent blocks:
Although NYAN is designed to produce a block every minute, there have been times where there has been more than 24 hours between blocks. This results because of an imperfect difficulty function and low base hashing, along with price fluctuations, which can combine to have a low difficulty making the coin attractive for a flood of hashing power which can lead the difficulty function to overcompensate, leaving it stuck with a high difficulty no longer profitable to mine.
I haven’t observed this lately, that is, I don’t recall incidents of this in 2017, but I’ve been paying far less attention to it as well. It is entirely possible for this to recur, as the difficulty function is not fixed (it would require a hard fork to fix it). We seem to have more baseline hashing which helps to avoid this, but it is possible for us to lose that.
A workaround is to use large transaction fees (I've set my client to 337 NYAN) which is enough to cause pools to generally solve a block even if the chain were otherwise stuck. It may be possible to include a better difficulty function in a hard fork client, but it is unknown when if ever this would be done and it's not yet clear what design improvement if any would fix this.
51% attack: Because of the generally quite low hashing power on NYAN, it is highly vulnerable to a 51% attack. Either a leading pool or a new one could choose to do a denial-of-service attack, whether for extortion, lulz, or some other reason (like coinaday being annoying). Such an attack is capable of preventing any transaction processing for as long as it is sustained. I consider this a relatively low risk since I expect we would simply wait it out (and potentially not even notice such an attack for quite a while given the low volume of transactions currently), but it is definitely a potential vulnerability.
Bugs: It is possible that there are bugs in the underlying code. I have never read through all of the bitcoin or nyancoin code, of any version, nor even studied the original bitcoin whitepaper in depth (by the way, we oughta make up a nyancoin whitepaper or ten someday), meaning I have no professional or technical knowledge about whether or not the system is fundamentally sound. I've been going based on "it seems to be working, so it's probably fine", which is, shall we say, more of an engineering than scientific approach.
I have heard reference to a "time warp" bug vulnerability in the KGW difficulty function which Nyancoins has. I do not know details and my understanding is a fix to this would require a fork to change the difficulty function, so I do not anticipate a fix before NYAN3, the term for an eventual hard fork, but it is unknown when if ever this would be done. I consider this vulnerability to be likely to be related to the fundamental weakness to difficulty spikes after large amounts of hashing jumps on the network. Hostile (or simply passing interest with large capacity) hashing does degrade the performance of the network. As a workaround, this class of attack can be mitigated with a transaction to 'unstick' the chain after, since the difficulty function will adjust in the next block after enough wall-time has passed since the last block (so only need one high difficulty solve which can be triggered by a transaction fee).
Legal: Bitcoin faces uncertain legal situations in almost every country. Nyancoin is even more uncertain, as people tend to consider bitcoin and not address impacts on altcoins. Between the potential tax implications and banking regulations and currency laws, there are a wide variety of ways a person could make a felony-level mistake. This can be somewhat mitigated by merely buying and holding, as you won't be responsible for KYC/AML presumably (although an argument could be made in your purchase), and presumably unrealized capital gains wouldn't be taxable (but I am neither a lawyer nor accountant nor any sort of expert on the relevant accounting laws in any country).
Somehow getting legal opinions for Nyancoins in every country would be very useful in my opinion. If Bitcoin and altcoins are well-studied in a given country it should be relatively easy to adapt those opinions and research to Nyancoins, but it would still require some pro bono work in any case. So...hopefully we'll get some lawyer Nekonauts someday who are willing to semi-officially give us an opinion. In the meantime...hope that common sense can save you. If you sell Nyancoins directly, you're going to need to comply with the KYC/AML types of laws of your country. If you're going to do banking operations...may the central bank have mercy on your soul.
I think the best advantage we have is the same bitcoin had for its first years: we're too small for anyone to care. But since we plan to grow significantly, we need to be aware of our legal issues upon scale. Which is to say, whether or not you're allowed to sell 10,000 NYAN to your friend probably has a lot to do with whether your friend legally acquired whatever is being offered in exchange, and whether the value of what you get in return is above a certain level or not. I'm not going to try guessing that level precisely because I know I'll be wrong. $1 is probably fine. $10,000 is probably illegal without some significant licensing. I would suggest either not touching fiat or else deliberately capping it without verification after getting an independent local expert legal opinion.
concentration: The fact that I hold about 41%(? not sure the exact percentage as of Dec 2017 ; need to do updated survey to check; 41% sounds slightly high to me but I'll see...I'll try to update by the end of the year or shortly after) of the currently outstanding NYAN could be a major risk factor, particularly if I do not act in the best long-term interests of the strength of Nyancoins. For instance, I could pull my bids, sell only a small part of my holdings, crash the market, and potentially buy a lot of volume for a lower price. While I cannot foresee any circumstance under which I would do this, it is certainly conceivable that I could be financially, legally, or morally obligated to do so if I were to become insolvent.
Liquidity: There is very little trading activity in NYAN. Therefore, large purchases will drive the price up and large sales will drive the price down. This means that entering and exiting a position is likely to result in "slippage", so even if the price has increased slightly overall since the time before one entered a position to the time before one exits it, it is quite possible that the overall trade will be neutral or negative as a result of the pressure on the market. For an extreme example, my own position would be essentially impossible to exit from the market without crashing the price, and even so it would likely be difficult to find buyers even at a satoshi, based on that I currently am the majority of the bids on the market. This is closely tied to the concentration risk but if I were to exit NYAN for any reason or simply fail to continue to renew bids the liquidity would dry up even further.
At the end of 2019, having no exchange, there is functionally zero liquidity. In theory peer to peer trading could still be done but I’m unaware of any.
Internet outage: if the Internet goes down, we hit a very nasty scenario. We can't process transactions, and all the miners go into a race to make 'useless' blocks on their own. If the Internet were never to come back up, Nyancoins would be dead. If there is a daylong internet outage, the longest blockchain discovered after, presumably representing the most hashing power dedicated to empty blocks during that outage, will win. So I suppose the block rewards in that case are for having the faith in Nyancoins to keep hashing and storing the blockchain during the day without the Internet.
addictive: This was a curiosity to me when I started. Now it's an obsession for me. I'm constantly thinking about how I can help to smooth the path for Nyancoins to grow stronger and better and more valuable. You may find that once you start to realize the impact you can have upon Nyancoins, and that Nyancoins can have upon you, that you start to become addicted as well. It is possible to substitute another addiction in its place, such as dogecoins or pcp, but it is not recommended.
Nyancoin addictions are considered 'mostly harmless'. The exception is if you go 'full coinaday' and start to accumulate more than 10% of your assets in Nyancoins. In this, this is essentially a variety of gambling addiction. I would argue that it beats roulette because you can tilt the odds in your favor, but then, I would argue that, wouldn't I?
mo' nyan mo' problems: Some people have claimed that more money leads to more problems. Since nyan is money, it follows as a consequence of the conjecture. Should this be the case, your increasing nyan could potentially lead to such problems in the future as: enhanced attention from revenue collection services of all kinds (governmental and private), swarms of fake friends and gold-diggers, excessive risk-taking as a result of feelings of invincibility, an increase in certain varieties of targeted marketing, possible disqualification for asset-based welfare for you (or even your children, for instance college financial assistance), an inability to remember how many houses you own, or other serious problems.
The lack of any exchange trading Nyancoins is a major risk factor in its future survival. If it is listed, the lack of development is likely the next most serious. The coin currently survives but whether it will continue to do so in the future is far from certain. If those of us who have found or come back to NYAN choose to keep it alive, I believe it still has a chance at surviving into a stronger future.
This self-certified infallible message has been brought to you as a Public Service Announcement of the NYAN Public Relations Council, a transparent front organization of notoriously lovable philanthropist and major NYAN hodler coinaday.
submitted by coinaday to nyancoins [link] [comments]

[ELI5] Extracting Privkeys from QT/Core

We have a constant stream of people coming back after abandoning Dogecoin and the sub in 2014 when the price fell. These people all have old versions of QT and are now basically trying to recover their coins, presumably to cash out and abandon us again. This is causing strain for the network, as far more people are trying to leech blocks than seed them.
The thing is, none of this is necessary. Especially if you're just going to dump coins. With resources such as all you need are your private keys, and you can create, sign and broadcast transactions yourself. No client required, let alone one as resource-hungry as QT.

"So, how do I get my keys?"

First of all, lets talk about data management. The overwhelming majority of coins are not lost through theft, especially direct theft of wallets (as distinct from wholesale thefts/scams/implosions like Moolah, GAW, MtGox, Cryptsy, and even our own beloved Dogetipbot). Most coins are lost because people forget about their wallets and do silly things like reformat hard drives, lose passwords and so on.
So, everyone should have a wallet list. Here is a sample bit of HTML that gives you a page with two columns of wallets, one for local wallets you would withdraw coins to, the other the third-party wallets you would deposit coins to third parties through (do note that many services use temporary addresses generated for deposits which expire after 24h or so). A page like this is how I manage my 100+ wallets, and I have copies on my network and hidden online. Such a page makes it easy to at least keep track of all your wallets, for a trivial amount of work to set up.
 Sample - Twitter Fr DFXXz9gq3WkgJaHn9tXRChMhFQcwm4Y251 To DByYgzd4ec5Ku9vPag8XqoBfyRpsoj8Xs3 @TipDoge Sample - Backslash Fr DSDyv83VC1QtEnmJ4ATKFn5Sw3iC12VLmX To D9MsxSyJe5Mq7fWFRpC7zQQt1gexHccN4w Backslash To DJ3GL68kw8vh99RvxnEmQKE8A3cWRoEEqo Backslash Faucet Sample - To DE5QamzWVnxK2HmCS61cUsrn9iwgTArunU 

"OK, great, so now I have a list of my wallets. Now what?"

Now you're going to need the private keys for each of those wallets. Obviously you're not going to store these in a public place though. So you will need a separate file, which can just be plain text. Copy each of those addresses into it.
Now go ahead and fire up QT. If you haven't synced it in 3 years, its going to take forever, but that doesn't matter. You don't actually need the blockchain for this, so you don't have to wait for it to catch up.
Open up the console which is in the Help menu. Then give the command dumpprivkey with the wallet address you want the key to. Then use the up-arrow key to bring that command back, replace the address with the next one, and keep going until you have them all.
It will look something like this:
 13:05:18 Welcome to the Dogecoin RPC console. Use up and down arrows to navigate history, and Ctrl-L to clear screen. Type help for an overview of available commands. 13:11:06 dumpprivkey D9xDcRthB6XP4vRGqiyKdDfVJ7CWhYuBBi 13:11:06 6KEcssuq1wWUrFVmMF8yDxHuAdQMiRezz53zDxADLmyoXnix7iM 13:12:00 dumpprivkey DUDARNrGHVTFcCgriwRWgDQJPKDuDQr9jg 13:12:00 6JNk6NNFZcr49fbsD2jcTfTxFLjJKq9DHQ5JU8CYeZ2Cz6JdKMY 13:12:25 dumpprivkey DG6xnwCT6BXePaySqU85XocobZmhbJczQH 13:12:25 6JNXFv95Mp9SzehHw9jojjdxHRNPeh77qCsRbaNwJZMp9MKCAu3 
Yes, those are real wallets. But don't bother trying to steal my coins, I just generated them on and they're empty.
That's basically it. All you need to do is add some descriptions of what the wallets are, pretty up the format to your liking, and save copies in multiple, secure places, including printed out.

Remember, if you lose your keys, OR someone else sees them, you lose your coins!

If those were my real wallets above, you could use the keys and spend my coins. So obviously, don't let anyone else, especially annoying little brothers, get their grubby hands on them. But also make sure they can be discovered if anything happens to you. That's why the printed copies... nobody is going to go trolling through your porn or warez collection on the offchance there's something valuable in there. But they will look in your safe or wherever you store other important documents. Just be sure to leave a note as to what they are and how to use them. Remember the woman who came here a couple years ago who had found a USB stick with 110 BTC in a locked wallet.dat on it from her dead husband? I sometimes wonder if she ever got the money. Don't be her. Or him.

"OK, great. Now I have my keys. What now?"

Well, you can spend coins using from any wallet you have the keys to. First step is to choose the network. Dogecoin (mainnet) obviously. Then go to Transaction in the +New menu. Enter your address and hit the Load button. It will pull in the first 100 transactions. Now enter the address to pay, and the amount.
Note the Transaction Fee box!
You want this amount to be zero. Depending on whether you're moving coins to another of your wallets to consolidate them (a very good idea.. go read the UTXO ELI5, which you will find a couple pages into - Yes, I'm going to make you work for it, cos there's tons of useful stuff there you need to know), or paying someone else, you may want to select which inputs to use.
Once you're happy with the transaction, go ahead and submit it. You will now get a block of text, which is the raw, unsigned transaction. Copy this. Go to the Sign tab. Paste it. Add your private key and Submit to sign it.
After a little bit, you will get a signed transaction. Copy it. Go to the Broadcast tab, paste it and hit Submit.
That's it. It should go into the next block in a minute or two. Yes, even without paying a mining fee. Our network is so lightly loaded that there are no contention issues like the Bitcoin people have to put up with.

"That's it? So why do I need QT?"

You don't. The process above is all that's involved in spending coins. Everything else is window dressing. So there is no need to run QT, or any other client. Oh, and since you can download the site and run it locally (mostly offline), there is no security issue beyond the usual keyloggers/spyware that can compromise anything. And by knowing how to do this, you are much better protected from accidental loss than someone who blindly trusts black boxes they don't understand.
Oh, one final thing... if you really want to help the network by seeding rather than leeching, go ahead and run a full node. Instructions are in that link above. AND you may want to help seed the bootstrap file torrent from a couple of days ago. Just because YOU don't need it, doesn't mean others don't, right?
submitted by Fulvio55 to dogecoin [link] [comments]

How to dig deep for doges with only CPU

I see many doge lovers digging with there CPUs for Dogecoin directly. Even with a high end CPU; you will only achieve about 40 kH/s - this equates to ~ 1000 coins a day.
Do not fear; there is a better way.
First download the new and far more efficient CPU miner (+25%)from Direct Link:
Next download the digital wallet from :
Now sign up for a Securecoin pool; I use :
Create a worker in the pool, and call it 1, set it's password to 123
Go into the folder were you put the extracted CPU miner files: Create a .bat file and put the following in it:
minerd.exe -a quark --url stratum+tcp:// -u (user name here).(worker name here) -p 123 -t x
(set x to the number of cores or threads your cpu has) If you computer lags too much while you need to do stuff, set x to 3/4 or 1/2 of your max cores.
(!For the next stage, you might need to disable your antivirus software for a few minutes, as some will false report the .exe file)
Next run the .bat file and your CPU will start mining; keep an eye on temps for the first 20 minutes and ensure proper ventilation is present. If you are running this on a laptop keep a very careful eye on temps, if they are going too high what you can do is change the laptops power settings to only use say 75% of the cpu power.
An i7 920 should achieve around 500-600 kh/s. Even a old dual core laptop should achieve 75 kh/s.
Mine for a few hours (6+) and transfer you coins to the wallet you downloaded earlier.
Next sign up to the coin exchange Crypsy ( Go to the balances tab, scroll down to Securecoin, select deposit, generate an address, copy the address, go back to your wallet, click send a new transaction and then send your coins to the crypsy address.
The final stage is the simple one. After ~1hour, you coins should appear on crypsy. Go to : Sell your Securecoins for bitcoins. Next go to : And buy your first Dogecoins! Happy digging! Much riches. So fine. wow
Edit: additional warning : Many pools will take a 0.01 SRC fee for withdrawing coins, so make sure to withdraw in one big nugget if you have too rather than lots of little withdrawals. You would be best mining for at-least 24 hours before you withdraw your funds.
Edit 2: If you are having sync problems, try the below to update sync issues :
submitted by Iwasapirateonce to dogemining [link] [comments]

We got hacked, not a complaint just a community bulletin.

Hello everyone,
As of yesterday my company (in extensive my personal accounts) were hacked and cleaned out of all Bitcoin as well as other currencies of value (Litecoin, Dogecoin etc). Not writing this to complain it happened or beg for compensation, we understand this happens sometimes and there was probably more we could have done (but also in some cases there wasn't... more below).
Via our personal computer: What we had: Bitcoin (~2 I believe), Litecoin (Somewhere between 400-500), Dogecoin (Millions) wallets all cleaned out, all password protected and encrypted. What we should have done: Held all those wallets on a computer disconnected from the internet as well as making backups record private keys etc.
What we had: gmail accounts all secured with TFA via cell phones and everything. (Side note google is horrendous with dealing with compromised accounts, there is no way we are going to be able to get it back now.) What we should have done: Don't know? Anything else we could have done? What we had: Cryptsy Accounts with about 1 million Dogecoin and 0.25 BTC, that is not missing it is still there but we do not have access to it because of email confirmation requirements... which we do not have access to the email. TFA was enabled on there as well with google authenticator. What we had: Cryptostocks account with 212 Cryptsy Shares in it worth approximately 29 BTC before hacker sold under market price to withdraw plus some DVC. Also had TFA on it with Google Authenticator. So not really sure how they got past that. What we should have done: I have absolutely no idea what else we could have done. Secured out email better obviously but that is another issue in itself. 
I also scanned my computer for malware today and got this screenshot...
Does cgminer show up as Malware to anyone else?
Anyway so that is what got hacked and the security we had/didnt have in place. Any tips would be appreciated on how we can secure our holdings better in the future.
For the future we will keep coins on offline wallets and only sync when coins have been sent to it. Other then that I think everyone here gets the gist of what I am saying. Secure your coins! Be safe and any suspicious activity watch carefully!
submitted by Yharaskrik to Bitcoin [link] [comments]

Redeem your karma for coins using tipbots

I posted this in /dogecoin but it broke the rules and never saw the light of day. I guess some of the words are banned. Anyway, this sub has no rules so I'm posting it here.
This isn't meant to be an advertisement for other coins. I don't hold anything but DOGE, nor do I care to. I just thought this was a fun, hands-on way to get educated about trading on an exchange.
[Edit]: I'll be editing in other altcoin tipbots that allow redemption as I come across them. All I hear is the whistling emptiness of this subreddit but if anyone actually sees this beacon in the darkness, feel free to add bots that you know about in the comments and I will add them in.
I recently discovered that the ALTcointipbot and the Reddtipbot (edit: and others) will give you some free coins (once only!) based on how much Reddit karma you have (link+comment). I have an embarrassing amount so I thought I'd give it a shot, and I got about $0.25 worth of a bunch of types of coins.
I had a pretty good time sending the coins to an exchange and getting some trading experience with zero risk. I used Cryptsy because they trade a ton of coins and I didn't care to shop around since I got in for free anyway. Came home with a couple thousand extra Doge at the end of the day, could probably have done better for myself but I didn't want to sink a ton of time in.
Bitcoin and Litecoin wouldn't let me withdraw because the amount I got didn't cover transaction fees. Maybe if you've already got some built up, this will help pay for getting it out.
There were one or two coins that couldn't cover my karma because they were too dry. Such is life.
One or two others wouldn't immediately withdraw because of some unspecified dev issue. They did end up crediting me a day or two later so someone must have fixed it (?).
If you have some karma built up, give it a shot. I'll even make it super easy for you by providing links.
Reddcoin registration
Reddcoin Redemption
ALTcointipbot registration
ALTcointipbot Redemption: Bitcoin
ALTcointipbot Redemption: Litecoin
ALTcointipbot Redemption: Peercoin
ALTcointipbot Redemption: Primecoin
ALTcointipbot Redemption: Namecoin
ALTcointipbot Redemption: Megacoin
ALTcointipbot Redemption: BBQCoin
ALTcointipbot Redemption: Digitalcoin
ALTcointipbot Redemption: Infinitecoin
ALTcointipbot Redemption: Ixcoin
ALTcointipbot Redemption: Mincoin
ALTcointipbot Redemption: Quarkcoin
ALTcointipbot Redemption: Stablecoin
ALTcointipbot Redemption: Zetacoin
Rabbitbot Registration: Rabbitcoin
Rabbitbot Redemption: Rabbitcoin
Groestlcoin Registration
Groestlcoin Redemption
Once you score, you can withdraw the coins, I used a cryptsy address for the specific altcoin, amount should be all and coin is just the name of the coin like I wrote up above.
Have fun, shibes!
submitted by Martholomule to realdogecoin [link] [comments]

Doge Puppies Like Me: Come hear my tail, such learning, much waiting, yet such sweet Wow.

NOTE: This is a summary of my experience with DOGE buying. I am new to the internet world, very luddite, but hope to learn more. I am sharing my experiences for any others out here like me, who may be just starting out. I am a stay at home mom who browses imgur while nursing, long story short, I stumbled on to the news article about the Jamaican Bobsledders. Then I started my research and last week I jumped on the Dogetrain, all starry eyed and bushy tailed.
I bought my first bitcoin on Virwox using my paypal account. It caps you at $104 USD. You then have to trade your Bitcoin for Linden dollars. Linden is currency from the Second Life, an Avatar game. After you make your linden trade, you can then trade your Linden for BTC. I ended up with around .111BTC, which isn't so great for $104 USD.
I next signed up for an account at Coinbase. At Coinbase I had to enter bank account information, and then I bought BTC. The great thing about Coinbase is that they lock in the market price when you place your order. Even though I haven't actually received my BTC for 4 days (still waiting) I was able to buy it at the low of $781 per BTC. I bought .3 BTC for the price of $237.
The next thing I did was pretty silly. I withdrew my BTC from Wirvox (paying .002 BTC withdraw fee) and transferred it into Coinbase. It took two (2) days for this transfer to take place. Once my BTC finally arrived at Coinbase, I realized I wanted to trade them for DOGE. Coinbase is ONLY for buying and selling Bitcoin. So, I had to transfer my BTC from Coinbase and into Cryptsy. Everytime you make a withdraw from one of these markets, you end up incurring some small fee. But if you are going around needlessly transferring BTC like I was, those fees add up. The transfer from Coinbase to Cryptsy took about a minute. Once at Cryptsy I traded my .111 BTC for around 65,000 DOGE. Next I transferred the DOGE into my Dogewallet that I had downloaded onto my desktop. This transfer took 24 Hrs. It kept saying, "pending" I issued a Cryptsy ticket asking what the hold up was and they responded promptly and fixed the problem by the following day.
I am still waiting for my .3 BTC I bought from Coinbase to stop pending, once it does I will transfer it into Cryptsy and again buy more DOGE.
I downloaded Dogecoin QT wallet for my desktop and transferred my Doge, this took around 12 hrs. The whole time I was stressing not sure what exactly I had downloaded onto my computer (a bug, a bomb?) But I googled and found out from reddit that this is a common issue with Dogecoin QT.
I have also bought 10,000 DOGE on Ebay for $20,000 from a very kind member of the Shibe community who showed me how to find my wallet address, transferred an initial 1 DOGE to make sure it worked, and then welcomed me kindly and gave me an extra 1000.
I also signed up for Doge Vault, and I have tested sending DOGE back and forth between my desktop wallet and the online wallet. The online wallet is faster in my opinion.
TL;DR: Newbie's experience with DOGE, learn from my mistakes.
Community Overlords of DOGE: this might give you an idea of what your average computer idiot goes through when they are starting out.
submitted by TheBigRedRooster to dogecoin [link] [comments]

How to earn Bitcoin in every 5 MINUTES + WITHDRAWAL l FREE Coinadster DOGEHEX - DOGECOIN CLOUD MINING - Crypto Mechanism - The ... Cryptsy Update 20/01/16 - 50 Wallets Opened For Withdrawals How to create and get dogecoin wallet address bank  in tamil NEWS: Avoid Cryptsy. 23andMe returns. Bitcoin & Bittorrent have baby.

r/dogecoin: The most amazing place on reddit! A subreddit for sharing, discussing, hoarding and wow'ing about Dogecoins. The new innovative … Press J to jump to the feed. Press question mark to learn the rest of the keyboard shortcuts. r/dogecoin. log in sign up. User account menu. 2. Trouble Withdrawing Doge from Cryptsy? Close. 2. Posted by. u/MaxLangley. 5 years ago. Archived. Trouble ... I've been using cryptsy to trade cryptos for a couple months now, haven't had any issues in the past. Tonight I tried transferring doge to bitcoin and withdrawing. The form for withdrawal hangs and eventually 403's. As soon as I submit my request for withdrawal the entire website stops loading, regardless of the page I'm trying to access. They are currently trying to offer fiat debit cards that work in conjunction with your Cryptsy account, they need a few hundred more to join for it to begin. Currently we have experienced no longer than 36 hours for a BTC withdrawal, this is only recently as the laws have become more strict and the amount was third tier so that is not too bad. At the moment of writing, Cryptsy is back online, and so far, the firm has not issued a comment on the latest issues. While bitcoin users from all around the world and even prominent members of ... How to buy Dogecoin with Paypal or Credit Card Instantly Last updated on February 22nd, 2018 at 12:06 pm This tutorial will explain how to buy Dogecoin using Paypal a credit card, cash and other different methods. Although it was only released in the beginning of December 2013, in the first month of 2014 Dogecoin has . trending; Dogecoin To Bitcoin Instant Litecoin . Dogecoin To Bitcoin ...

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How to earn Bitcoin in every 5 MINUTES + WITHDRAWAL l FREE Coinadster

How to earn Bitcoin in every 5 MINUTES + WITHDRAWAL l FREE Coinadster Mag claim ng random bitcoin amount every 5 mins at minsan every 1 min lang! ----- If you enjoy the video consider Subscribing ... In today's episode, I talk about Bitcoin dips and how to get through them by holding them in altcoins plus some issues with Poloniex pending withdrawals, perhaps sign of Mt. Gox/Cryptsy. FYI, same ... – Update 2016/01/19 10:08pm – The following wallets have been opened for withdrawals: 007 42Coin Acoin Aegis Aiden AlienCoin AlphaCoin AmricanCoin AppleBytes... Cryptsy withholds property. Forklog fueled via NXT Asset. LBRY in alpha. Girl hearts 3D Printer. Grasp your genetic makeup. The drifting DeLorean. Engineering away exploitable hacks. Lee Willson ... free dogecoin cloud mining, free dogecoin withdraw, free bitcoin litecoin dogecoin, best free dogecoin mining site, free dogecoin cloud mining sites, doge faucet free dogecoin, free dogecoin ...