Out of shitcoins, now all in BTC

Why btc?
So many better alt coins right now.

When:
BTC goes up --> alts go down
BTC goes sideways after it goes up --> alts go up
BTC goes down --> alts go down

Most pairs are based on ETH or BTC. Obviously if you're in xxx/BTC and BTC goes up, xxx's value will decline by comparison. That's math. (Or arbitrage, for all you conventional traders out there.)

When BTC plummets, alts increase -- for awhile -- and for the same reason as above. But BTC is seen as the barometer for crypto, so as it declines people lose faith and pull out. So any increases from BTC dropping are short-lived. But whatever, ride the wave, dude.

Alt coins always jump sometime after BTC jumps, and usually by considerably more, and often for longer. More waves. More surfing. More profits.

@Root It seems you know something about cryptocurrency 🧐

What would you advise for a newbie? 😅 I don't have much cash to put on it but what are alts? alternative coins?

I don't want to be a bitcoin millionaire, just want to understand a bit and probably make some little investments. I'm intrigued about economics/mathematics behind cryptocurrency. It seems I can't find precise information :/

@marcoandre1 You should study technical analysis. The older the book, the more accurate and useful the information will be.

Best advice: make a tradingview account and use the Madrid Ribbon indicator. RSI/Stochastic are also useful. Those are probably the most useful, and remain so as you learn what formations to look for, your trading methodology, etc.

If you are more serious about trading, we could talk 😋 root-devrant@tuta.io

If you are focused on economics math theory you can:
- Get involved (buy some bitcoin) you can buy a very small amount first, as long as you are comfortable with. Then you will find yourself falling down the rabbit hole.
- The mainstream media have done a very bad job to Bitcoin, so don’t adopt their views without doing your own research first.
- If you want a solid knowledge-base you should have a basic understanding of distributed systems and consensus algorithms (read the original bitcoin white paper).
- Read mastering Bitcoin, this book is for developers. https://github.com/bitcoinbook/...
- https://github.com/anders94/...
- Jameson Lopp’s Bitcoin Resources
https://lopp.net/bitcoin-informatio...
- Read The Internet of Money Book.
- Read about social scalability and network effect and the history of money (Nick Szabo).
- If you want to deep dive into the economics side of bitcoin, read The Bitcoin Standard.

If you prefer to invest as a way to generate income, none of the technicals of blockchain tech will really help. Crypto is the same as any other market, just much more difficult and faster moving. Much more profitable, too. And ofc once you master hardmode, everything else is easy by comparison. So study technical analysis, and make practice (simulated) trades until you're comfortable.

And once you start making money...
It's the best game ever.