Bitcoin went BANG in 2017, but cryptocurrencies as a whole are now beginning to filter into the mainstream more and more with every passing day. The idea that you can 'get rich quick' persists, but there are also those looking to invest long-term to hold onto and increase the value of their assets.
Whether you're in the former camp or the latter, you should ensure you are up-to-date with the latest news by having a great library of resources at your disposal. Here are some of the ones that we'd recommend.
If you're just getting started or looking at advice on where to put your money, then you need to find some good resources. Here's some that have treated me incredibly well.
A simple website that gives a readout in USD, AUD, BTC or ETH about the current state of Bitcoin and other cryptocurrencies, giving a readout of the Top 100 cryptocurrencies based on market cap. Market cap, or market capitalisation, is a term used to denote the Current Supply multiplied by the Price for one coin. It's a simple readout used in share trading that helps to quickly determine how a particular investment is doing. Alongside this, Coinmarketcap also shows the 24 hour change and trends of Bitcoin and other cryptocurrencies.
The Bitcoin Wiki is just that - a wiki for Bitcoin. It covers all of the basics, answering most of the questions you might have about the coin, the blockchain and any potential altcoins you might be interested in - and doesn't leave you scratching your head.
Coindesk has been operating since 2013 and aim to inform the community about developments predominantly around blockchain technology. Their team of independent journalists cover all the big movements in the space and they are often looked to as a source for up-to-the-minute information on the latest and greatest in blockchain tech. Their 2017 Year in Review is particularly good reading if you are just getting started.
The Reddit community for cryptocurrencies is one of the great starting points for anyone looking to invest or just looking for information about various altcoins. Bitcoin doesn't quite get the same coverage here, so it's a good place to look if you're more interested in some of the altcoin offerings that are popping up. Due to Reddit's clever voting system, it's basically a place where information is crowd-sourced, meaning the best comments and threads land at the top of the pile and the trash gets filtered out. I can't count on both hands the amount of times reading through the threads here have pointed me in the right direction regarding an up-and-coming coin or warned me when things are about to go sour. These are the people actually spending or selling the coins so you're right at the forefront of consumer behaviour around the crypto markets. Bookmark it.
Twitter is incredibly up to date with the latest breaking news and a lot of the cryptocurrency crowd use it as a way to quickly disseminate new information about the coins. For instance, Vitalik Buterin posts regularly about his product: Ethereum and Charlie Lee, the creator of Litecoin, doesn't mince words about cryptos. You can also find people like the venerated Bitcoin wunderkind Andreas Antonopolous and Jameson Lopp, who provides some of the best advice of all:
Welcome to Bitcoin, newcomers! Here's your FAQ:
Q: Who should I trust?
Q: When should I sell?
Q: Is Bitcoin dying because ____?
Q: What have I gotten myself into?
A: Nobody knows.
Q: How do I learn more?
— Jameson Lopp (@lopp) November 19, 2017
When I talk about Bitcoin on my personal Twitter account, it's usually just in a panic.
We like to think we're pretty good at providing guides to big tech changes for Australians and as cryptocurrency really begins to take hold of the mainstream, we'll be doing our best to cover the movers and shakers. 2018 looks set to be an absolutely huge year both here and abroad, so keep an eye on us if you're on the hunt for information. We've already published quite a few helpful guides, including where to buy and where to sell in Australia.
Bitcoin is a form of cryptocurrency that can be used to purchase everything from online goods to multi-million dollar mansions. They are currently more valuable than gold, with a single Bitcoin equalling more than three thousand Australian dollars. Needless to say, there is a huge amount of interest in bitcoin and it's not too hard to start mining bitcoins of your own.
Lifehacker does not provide investment advice. Cryptocurrency trading is high-risk and extremely volatile. Do so at your own risk.