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#sonTwo called to tell me his father-in-law wants to give them a small amount of money to get started in cryptocurrencies. I gave him a quick primer (with the caveat that I've never tried them, just watched the hype), including sharing my misgivings about giving banking info to unregulated crypto exchanges.
I am going to have to read up on it now.
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Well, it looks like there is far too much opinion and not enough facts. I think I need a step-by-step primer, something that assumes I want to mine #BTC or other major cryptocurrencies. Because starting with "Join $CRYPTO_EXCHANGE or uy through LocalBitcoins" is skipping important fundamentals. Don't get me wrong: I'm sure my son is going to have to get an account on an exchange, but if he approaches it as price speculation instead of a way to buy and sell, he'll be unprepared when speculators move on to other things. ("Psst. I've got a roll of vintage Northern toilet paper. It is worth $400, but I need to sell qickly, so I'll sell it to you for $250.")
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Thanks. Sent.