Bitcoin for Beginners Articles 7 and 8 (Market Review Included)

What Are Bitcoins and How Do They Work?

Bitcoin is the most popular cryptocurrency out of hundreds of others. Cryptocurrency is a type of digital or virtual currency that you can use to pay for goods and services. The value is determined by a myriad of factors. Bitcoin is literally one of the most versatile cryptocurrencies around the world.

Essentially, cryptocurrency is supported by code using complex algorithms that prevent unauthorized copying or fraudulent use or creation of bitcoins. The way it works is that “miners” use a special code to find new bitcoins based on transactions. It’s essentially a digital token that has no physical body, and it represents some unit whose value is usually based on fiat money such as the US Dollar.

Bitcoin is the name of the network that the tokens are stored on, and is essentially a payment network not much different from something like PayPal. The system is decentralized and not run by any overriding governing body or state. There are other open source platforms that are similar in nature that you may understand such as Wikipedia, Moz.com/ugc, and others.

Users are anonymous and identified by a public key. You can have more than one public key and they can be controlled by your pseudonym, or username, or handle – depending on what you want to call it. This enables you to privately purchase the products and services that you want to buy without even the seller knowing who you are in some cases.

You can accept bitcoin as payment, and you can trade bitcoin for fiat money or even other cryptocurrencies. Bitcoin value is subject to wild swings and can be very volatile. If you want to get involved in investing, it’s important to understand that upfront. It can be a wild ride with crazy ups and downs of the value of your bitcoins.

Every transaction ever made using bitcoin is recorded by everyone including miners, by following the bitcoin protocol maintained in the public ledger. The units of exchange can be very small, but they can never be bigger than the number of bitcoins determined to exist in the first place. There are 21 million bitcoins and that’s finite, but the value of each bitcoin and fractions of bitcoins is infinite.

Miners compile recent transactions into blocks, creating block chains that can continue to grow. When a miner solves and proves the work (confirms and records the transaction), new bitcoins are created. It’s an amazing process that some very smart people figured out and if you learn all that you can about it, you will be less likely to make mistakes and get defrauded. You can earn bitcoins by buying them, mining them, or earning them through providing services.


Market Review

Bitcoin close with a bull inverted simillar to a indecition but hand is longer than shadow. Most probably will see a slight fall before pick up for the rest of the week. $10314 is a good buying price .


8.) What Does “Mining” Mean?

One way to learn about bitcoin is to learn the terminology. There are very specific words that are used to discuss bitcoins, and knowing these words will help you not only find more information about bitcoin, but also to explain it to others and to use it properly.

Mining.

This word is simple to understand because even though it means finding bitcoins digitally using specialized software and code, it is a lot like mining for gold. Gold is finite like bitcoin, so the idea fits. Each miner gets transaction fees for each transaction they confirm, and are also awarded bitcoins for each verified block (see below).

Private Key.

This is like your handle or username, but it’s a string of numbers (up to 78 of them) that gives you access to a wallet that contains the bitcoins. It’s more like a password if you think of it, and is tied to a wallet via your alias.

Wallet.

This is a cloud place that enables you to collect private keys and manage those keys to let you make transactions using the bitcoin network. It works just like a wallet that is physical. It contains and lets you access the bitcoins that you have. You can have more than one wallet.

Blocks.

Blocks connect every transaction together, forming block chains that are verified every ten minutes via mining. This process ensures that you avoid double spending, since technically a bitcoin can easily be copied on your own computer inside your wallets. Using this method makes it impossible to spend copies.

Block Chain.

This is the public record of the bitcoin transactions. It’s really a very orderly ledger of blocks, maintaining a chain in chronological order of all transactions. Anyone on the net can download the block chain to view with a block explorer.

Block Explorer.

This is like a browser that lets you look at the contents of blocks so that you can view the transactions and the history of all the balances and addresses of the transactions.

Halving.

Because there will never be more than 21 million bitcoins issued, they are halved every four years with the last one happening in 2140. This essentially means that the number of bitcoins it takes to form a block is decreased by half or 50 percent.

Confirmation.

When a transaction is verified by a network, it’s considered a confirmation. The process that does this is what is known as mining (see above). Once a transaction has been confirmed, it cannot be reversed or changed.

Change.

This is the same concept that you have with fiat money. You pay 5 bucks for something that cost 4.50 and you get back 50 cents. This is no different with bitcoin.

Address.

When you use bitcoin, you provide an address for that particular unit or transaction. Each address can only be used for one transaction.

Signature.

This refers to a cryptographic signature, which is really a mathematical formula that lets someone prove that they own the bitcoin. For example, your wallet and the private keys associated to that wallet, enables you to provide a signature so that no one can steal your bitcoins.

As you learn more about bitcoin and cryptocurrencies, you’re going to come across even more new terms that mean something important. Some of the terms seem obvious (like mining), but others are a little harder to understand. Take the time to learn all that you can so that you can make good choices when it comes to using bitcoin.


Market Review

Dax have posted beautifully with a bull inverted or known as long upper shadow. Bull run will be expected for the whole week. 11551 is a good price to deploy a whole new long position.

DJ30 cited a indecision pattern close last week but is not even. We may see a slight lower before pick up for the rest of the week.


Thank you

Tangoh

Sangoh Tan

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The Coin is Recovering.

Source and image : COINTELEGRAPH

US Moves Closer to Accepting Blockchain, Still Uncertain Over Crypto
The world that Satoshi Nakamoto — author of the Bitcoin white paper — envisioned, and others are building, is an unstoppable force. We should not attempt to deter this innovation, and governments cannot stop this innovation, and those who have tried have already failed. So the question then becomes, what are American policymakers going to do to meet the challenges and the opportunities of this new world of innovation?”

Read more


Bitcoin weekly posted a reversal pattern and a long indecision. Very high chance next week the Coin start to recover.

Daily have form a double bottom formation and this is another signal that the price is going back up in the early week.

The correction has found correcting more than 100% reaching almost 180 to 200 percent. If she cross 8524 to 8323 is 200% correction base on 13800 and now is ranging around 9400 / 9200 area. If she cross that level she is difinitely going back to her original level of 4000.

From fundamental and technical analysis. The cryptocurrencies will be recovering as early as today.

Thank you.

Sangoh Tan (Tangoh)


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You have a great day.

Coin is getting ready.

European markets trade higher as Boris Johnson wins UK leadership race; autos surge 4.2%.

I see is a reversal pattern and may plunge the next day of after. That is why I close out my long position.


The CEO of top cryptocurrency exchange Binance has said President Trump’s crypto-related tweets can only be a good thing for the industry.
Trump so far has not done anything positive or negative, he’s just said he’s not a fan. The fact that he tweeted about it, and the president of the United States is talking about cryptocurrency, it’s a good thing.”

Technically is that Coin are getting position for another rally.

Weekly posted a red downwards inverted last week and not forgeting the unfinished green bull inverted pattern that post before last week.

Is a good thing that we see she lowered first before mid week.

Day chart we can see here is forming a one straight line touching all support and probably see she start to recover mid week.

Thank you.

Sangoh Tan


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Facebook may delay Libra launch

Facebook’s planned digital currency “could be misused by money launderers and terrorist financiers” and that it was a “national security issue.”
Cryptocurrencies such as bitcoin have been exploited to support billions of dollars of illicit activity like cyber crime, tax evasion, extortion, ransomware, illicit drugs and human trafficking,” Mnuchin said, adding that he is “not comfortable today” with Facebook’s launch.

They is many patches to do.

But big guns have to sustain the blockchain volumn.

Technically the weekly chart is very positive despite Libra launch delay and regulator finding fault.

Long hand like a doji but more to a upside inverted. The early red is to finish the previous bear inverted pattern, which will probably pick up mid week for the price to continue with the 13800 level.

Beleive or not BTC has a double bottom formation. Price will continue to pick up.

German 30 weekly post a indecision weekly and expect to see GDAX continue to recover from her weakness mid week.


Thank you.

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Beware Tech News Will Move The Coins

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Back to Business Trend

News Source: cnbc.com

Trump says he agreed with Xi to hold off on new tariffs and to let Huawei buy US products.
“We mentioned Huawei. I said we’ll have to save that until the very end,” Trump said. “One of the things I will allow, however, is — a lot of people are surprised we send and we sell to Huawei a tremendous amount of product that goes into a lot of the various things that they make — and I said that that’s OK, that we will keep selling that product.”


I just saw Oil forms a indecision candlesticks pattern. Good Buy early next week. Many upside surprise early next week perhaps through the week. Whether is there an on going cyber war. Cautious are to be taken note mid-week.

This weekly doji pattern is a indecision pattern and upside is longer than the shadow.

Red indecision pattern very even and is a buy signal no matter is a red or green.


Prevention are to be taken. Always Friday have to close out all positions no matter profit or not. Just like this one .


Bitcoin will be around this area of 11, 500 / 11,900. Is on her way to the moon.

This inverted if she keep to this pattern and creating great amount of space for her to cross over 16K / 17K level. Surprisingly we wo’t know.

Daily today tomorrow might see red candlesticks pattern. Might start to see green tomorrow maybe of the tech good news.


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Thamk you.

Tangoh

Facebook Cryptocurrencies

Image : Libra casts a unique shadow over the crypto space; is it the best of Bitcoin and Tether in one? Here are 10 key takeaways from the whitepaper. | Source: REUTERS / Dado Ruvic
News Source: ccn.com

Best of Bitcoin & Tether Combined? 10

Libra Whitepaper Takeaways.

Facebook’s Libra cryptocurrency whitepaper dropped this week, sending shockwaves through the Bitcoin and altcoin community.

Is Libra the thing that pulls blockchain kicking and screaming into the mainstream, for the benefit of one and all? Or is it the final nail in the coffin of a cryptocurrency experiment just a decade old?

Read More


Ladt week I have executed my long hold position once saw she cross the $9000 level despite knowing she will hit above $10,000.

Weekly posted a reversal patternbut this reversal shows a long inverted too. Correction is not that much and this week will hit the 12,000 level before she goes for a 60% correction

Daily pattern posted a more to a indecision pattern wher the upside space is more than the lower shadow.

She will probably do a small correction before she swing up today.

Be back for more updates


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BTC Correcting near $7300

Which level is BTC correcting?

From the way she is correcting base on the reason high between $8600 to $9000 the BTC will bounce up near $7400 or befire $7300 that makes up 60% correction.

This might take till probably till mid week according to the weekly chart star formation.

Weekly chart last week red indecision pattern but more to a bear inverted because the leg is longer.

Next week we will expect to see BTC and probabky altcoin to move lower before mid week before bouncing up.

If she go lower first then the price will move even lower the week after next.

If she move higher first and settle lower then we will have a long up side that firms a bull inverted.

Lets see what happen within this 2 day. Lets hope sha move higher a settle lower, so that the week after next we can see some upside surge


SIM-Swap Attacks Are On The Rise: How To Protect Your Crypto?

Read more


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Intrinsic Value

Bitcoin have consolidate for her third day and cited she have form a indecision candlestick patterns, which mean is the end of correction since her 3 days ago green reversal pattern.

Last Friday JPMorganChase strategists wrote in a note that the world’s largest cryptocurrency has surged beyond its “intrinsic value,” mirroring a similar move in 2017 which preceded the industry’s biggest slump.

Since cited the move is about to emerge today, always take precautious and get the right entry point from the hourly chart.

Always place your stop loss order below it.

Today also cited the USD/JPY forms a simillar indecision pattern in her daily chart. Not fogetting the previous green candle that is more to a upside inverted and like a indecision. Very high chance that she will emerge too today.

Hourly is now forming a reversal candlestick pattern and is a buy signal at 4:45pm (HK/SIN)

When this happen wait xx54/57 or for the next confirmation pattern. Because now cited that she is creating more space to move lower further. Additionally she has a double top with the previous candle.

Always be cautious.


Be back for more update.

Happy Trading.

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Today on Candlestick Patterns Reading, Income Stream, Charity Navigator, make money online. We are on Charity Marathon Spillover from top, bottom, left and right. Issue on Money, Make Money and Reward.

(If they don’t do the mlm alike Partnership Fundraising system, how long you want the ill Children to wait).
(Survey shows only 3% human being will donate and won’t ask for reward).

Trader, Newbies or Oldies.
Always follow the calculated time specified xx45 in any hour and don’t trade on other timing as in xx28 minute to xx45 minute.
This are the timing will hold you and difficult to execute and face losses.
Don’t Trade on and before 45 minute during data report event.
Don’t trade 45 miute before and after any exchange open and closing.
Enter any hour, the 45 mins after or before on the above mention event and
Close within xx54 to xx27, once you see xx.xx profit just take it out, because there isn’t bonus everyday.
Can’t focus, Ego Moody day and No time, Don’t Trade.
Family around don’t trade. Family comes first. Otherwise you will suffer more than losses.
Face losses most of the time or big time. Take a long break. I would recommend you to Go for fund-raising like Charity Marathon Partnership.

Tangoh

Another Bitcoin Suicider

According to news source the duo have demand more and cause hu. To suicide. Bitcoin trader Bharat Patel from India, hanged himself on Sunday, leaving a suicide note for his widow; after being threatened by senior police in relation to losses he incurred whilst trading crypto assets on their behalf. The duo only traded 5BTC and demand for a double in return. WOW. Anything can happen when investor are not well inform and trader are not well verse with trading.

Anyway on Monday, the SEC delayed its decision regarding the VanEck (an ETF provider) Bitcoin ETF application again. The new deadline for the decision supposing is August 19 and accirding to the news sources that it migt be delayed as long till October.

According to cryptonews source, if approved, VanEck would be allowed to list the first ETF in the U.S. that is fully backed by “physical” bitcoins in its reserves, which is believed by many to be a huge catalyst for the price of bitcoin.

Case study on the Bitcoin today looks not promissing where Digial Chip stock-fall may affect the to fall too. Just be cautious of the turnaround.

Day chart posted a hanging man candlestick patterns but this is more like a corrective inverted pattern. And might push the price lower to around $6000

Despite doji on weekly last week chart. She might have complete the upside adjustment and may go for a price correction.

Today range may seems the upside has no more energy and volumn to push her higher. Maybe investor and trader are waiting below the $6500 level.

Juat be cautious.


Be back for more update.

Happy Trading.

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Today on Candlestick Patterns Reading, Income Stream, Charity Navigator, make money online. We are on Charity Marathon Spillover from top, bottom, left and right. Issue on Money, Make Money and Reward.

(If they don’t do the mlm alike Partnership Fundraising system, how long you want the ill Children to wait).
(Survey shows only 3% human being will donate and won’t ask for reward).

Trader, Newbies or Oldies.
Always follow the calculated time specified xx45 in any hour and don’t trade on other timing as in xx28 minute to xx45 minute.
This are the timing will hold you and difficult to execute and face losses.
Don’t Trade on and before 45 minute during data report event.
Don’t trade 45 miute before and after any exchange open and closing.
Enter any hour, the 45 mins after or before on the above mention event and
Close within xx54 to xx27, once you see xx.xx profit just take it out, because there isn’t bonus everyday.
Can’t focus, Ego Moody day and No time, Don’t Trade.
Family around don’t trade. Family comes first. Otherwise you will suffer more than losses.
Face losses most of the time or big time. Take a long break. I would recommend you to Go for fund-raising like Charity Marathon Partnership.

Tangoh

Cryptocurrency Gearing Up For Massive Surge

The Bitcoin Spikes cause by the major TV shows in the US and keyword searches in Google on ‘bitcoin’, ‘what is bitcoin’ and ‘how to buy bitcoin’ increased after 60 Minutes program dedicated to the most popular cryptocurrency aired on Sunday. The cryptoland is now getting ready for its new ‘citizens’.

BitMEX CEO Arthur Hayes the most widely ultilized margin trading platform for bitcoin and Ethereum,

has said that the bitcoin bull market is real and believes the bull market is just starting

Some analysis suspect that the Crypto Markets is gearing up for Massive Surge as Bitcoin continue to climb

Bitcoin has been on the up-side for several weeks and is now once again nearing the $8,000 region despite facing increased selling pressure earlier this week.Despite BTC’s upwards momentum, the aggregated crypto markets have generally failed to outperform Bitcoin since it first began surging.

Case study 1. I left the my position since last Friday Bitcoin and close today.

Cited the hourly chart has been considating for past few hours and is creating more space for the coin to move higher

Whereas day chart form a reversal patterns and today will correct about 30 to 50 percent base on last night chart before moving one step further and look for direction.


Be back for more update.

Happy Trading.T-Shirt by CryptoYīGuìMén all right reserve


Today on Candlestick Patterns Reading, Income Stream, Charity Navigator, make money online. We are on Charity Marathon Spillover from top, bottom, left and right. Issue on Money, Make Money and Reward.

(If they don’t do the mlm alike Partnership Fundraising system, how long you want the ill Children to wait).
(Survey shows only 3% human being will donate and won’t ask for reward).

Trader, Newbies or Oldies.
Always follow the calculated time specified xx45 in any hour and don’t trade on other timing as in xx28 minute to xx45 minute.
This are the timing will hold you and difficult to execute and face losses.
Don’t Trade on and before 45 minute during data report event.
Don’t trade 45 miute before and after any exchange open and closing.
Enter any hour, the 45 mins after or before on the above mention event and
Close within xx54 to xx27, once you see xx.xx profit just take it out, because there isn’t bonus everyday.
Can’t focus, Ego Moody day and No time, Don’t Trade.
Family around don’t trade. Family comes first. Otherwise you will suffer more than losses.
Face losses most of the time or big time. Take a long break. I would recommend you to Go for fund-raising like Charity Marathon Partnership.

Tangoh