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Investing in Bitcoin

Bitcoin Tutorial

In this episode, we will discuss some options that people have used to Invest in Bitcoin and crypto-currencies on their local stock markets. Before we begin, let us be clear that at LearnByCartoon.com we do not give or offer any investment or financial advice.   LearnByCartoon.com are an education service, not an investment or financial advice service.  We do not even promote the purchase of Bitcoin or any crypto-currency. Before you invest in any crypto-currency, you must do your own due diligence to see if this is right for you. We also advise that you speak with a reputable financial advisor.

DigitalX is an exchange listed on the Australian Stock Market. In two thousand and seventeen, on the back of the massive price rise in Bitcoin, the DigitalX stock price went up over seven hundred percent.  If you search for crypto-currency businesses listed on stock markets that you can legally invest into, you may find similar companies, showing similar profits, that operate as either exchanges or related businesses. However, there is absolutely no guarantee that investments into crypto-currency related stocks on any stock market will increase in value consistently over time, and losses could occur.

  • Investing in Bitcoin for BeginnersMany World-renowned Economists say that although crypto-currencies are here to stay, this does not necessarily mean Bitcoin itself will be one of them.  Nouriel Roubini, professor of economics at New York University, who is the economist credited with predicting the 2008 global financial crisis, said the sharp fall of the Bitcoin price at the beginning of twenty eighteen, was the start of a crash that would see the value of the digital currency plummet “all the way down to zero”.
  • Renowned economist Andy Xie from Shanghai, considers Bitcoin a massive Ponzi scheme that can potentially cause a crisis that is “worse than 2008.” Xie also went onto say, “This is a Ponzi scheme. The difference from the past ones is that it is global due to the Internet and, hence, all the people in the world can join. This is why it can go way beyond other schemes.”
  • Professor Steve Keen, Head of the School of Economics, at Kingston University in London has said “It is becoming obvious that Bitcoin can’t be independent of regulation given that criminal attacks and “intelligent fraud” can’t be ruled out.”  Professor Keen went on to say, “there is enormous pressure on the buy side of bitcoin and there are almost no sellers.”

As more people are drawn to buy into the limited number of Bitcoin that actually exist, the price naturally rises very quickly.

However there have been several recorded periods of sudden massive selling, which has dropped the Bitcoin price just as quickly as it went up.  Also today there are many alternative crypto-currencies to choose from. And major financial institutions and banks are now creating some of them. One example is ‘Utility settlement coin’ created by six of the world’s largest banks. This aims to come into circulation sometime in twenty eighteen. We don’t give investment advice, and we cannot predict the future for Bitcoin or any other crypto-currency, however crypto-currencies are most certainly here to stay in one form or another. One associated technology that is witnessing a massive rise in investment, and that does not depend on any one specific crypto-currency is the Crypto-Currency Hardware Wallet.  Hardware Wallets are not only used to store Bitcoin, they can also store many other crypto-currencies. Most Hardware Wallet manufacturers, such as Ledger who produce the Nano S Hardware Wallet, are still privately owned, so investment opportunities is still limited, at least for the moment, but this is one sector of investment that may be worth keeping an eye on.

Whatever you decide to do, here are some basic things to keep in mind with all crypto-currency investments.

Take care when Investing in Bitcoin – Digital Currencies are High-Risk

  • Bitcoin and the Blockchain, plus all other crypto-currencies are entirely new technologies.
  • Several Crypto-currencies are actively competing against each other, and no clear winner has yet been established.
  • Many Governments and Financial Institutions are actively opposed to Bitcoin and crypto-currencies. This could impact taxation or market fundamentals in the future.
  • Historically, rapid price increases in Bitcoin have been followed by rapid price declines.
  • If you do invest in Bitcoin or crypto-currencies, never invest more than you are willing or able to lose.
  • Bitcoin and other crypto-currencies are a very risky investment and you should keep this in mind at all times.
  • If you buy Bitcoins make sure to move them into your own personal wallet and never leave them at the exchange.
  • Several exchanges have been hacked and have failed.
  • Exchanges are not Banks, and some online Bitcoin services have proven to be scams.
  • Ideally, use a hardware wallet such as a Ledger Nano S, or Trezor Bitcoin Wallet to store your Bitcoins, as these offer the most robust security.
  • If you can’t afford a hardware wallet, try a paper wallet to take your Bitcoins offline and away from computers and Internet access completely.
  • Make sure to do your own due diligence.
  • Research and buy Bitcoins only from exchanges that have proven their reputation.
  • It’s also a good idea if you do buy Bitcoins, to buy Bitcoins using Dollar cost averaging.  This means that you don’t buy all of your Bitcoins at one time, but instead buy a fixed amount every month, or every week throughout the year.  This will help you average the purchase price of your Bitcoins over the course of a whole year as the price rises or falls. This also helps to spread your risk.
  • Most importantly, remember the price of Bitcoin can go down just as quickly as it went up.

Many people have bought Bitcoin, and many people have also lost them.  There is still a lot to learn about Bitcoin, and we urge you to continue your education through websites such as Bitcoin.org or Bitcoin.it

How to Buy Bitcoin

Bitcoin Tutorial for Beginners. Bitcoin and Blockchain Tutorial

Bitcoin For Beginners

How to Buy BitcoinUnfortunately you can find on the Internet, Crypto-currency exchanges that are either fraudulent, or badly operated, which risks your money and personal information.  Different crypto-currency exchanges provide varying degrees of safety, security, privacy, and control over your funds and your personal information.  It is your responsibility to work within the law in your own country, and to perform your own due diligence when selecting and using an Exchange.  You must also select a wallet before you select an exchange.  If you have not yet installed a Bitcoin Wallet, and taken the time to understand how your Wallet operates, then you are not ready to use a Bitcoin Exchange.  Remember, there is no controlling authority for Bitcoin or other Crypto-currencies.  Also local laws could suddenly change that affect Bitcoin Users or Exchanges.  Many people have lost Bitcoin or cash money to Fraudulent Exchanges, which operate for a short period of time, then disappear with their customer’s funds, while others have lost money to Exchanges that were poorly operated and were hacked.

  • These are just some of the reasons why doing your own due diligence is essential.
  • When using Bitcoin, it is your responsibility to ensure your own safety.

Bitcoin.org

To find an exchange, we recommend that you visit Bitcoin.org or another recognized Bitcoin Community in your own country.  Before even using an exchange that is listed here, you must still carry out your own due diligence, especially as circumstances and laws around Bitcoin can change at any time.  Many Exchanges are well operated and trustworthy, but some might not be.  We cannot advise you on what you need to do to fully protect yourself, as due diligence is your own responsibility.  Generally, when you sign up with an exchange you will need to supply identifying personal information before you can open an account.  Your Personal Information will then fall under the laws of the country where the Exchange operates.  This could also mean that the Government or Revenue Service in that country might obtain records of your personal details.

How to Buy Bitcoin

Never Leave Bitcoin in the Online Exchange

Once you have created and funded your Exchange account, the exchange will allow you to buy Bitcoin and usually other crypto-currencies.  When you have Bitcoin in your exchange account, to transfer this to your own Wallet is a simple process of creating and saving a Receiving Transaction record inside your own Bitcoin Wallet. This will create a unique Bitcoin Address for your Wallet and this transaction.  You can then send Bitcoin from your Exchange Account to the Bitcoin address that your Wallet provides.  It is often a good idea to send only a small amount of Bitcoin first, until you are familiar with the Sending and Receiving process, as mistakes often cannot be reversed. Remember also that if you do this, when you create a new Bitcoin Receiving Transaction in your own Wallet to receive Bitcoin, this usually generates a new Bitcoin Address that must be given to the sender.

How to Buy Bitcoin

Your Personal Security is Your Responsibility

Maintaining your financial and personal information security when using Bitcoin is always your responsibility.  Some people see this as the biggest drawback of Crypto-currencies.  Even Steve Wozniak, who co-founded Apple with Steve Jobs has said he fell victim to a bitcoin scam.  Loss of Bitcoin is something that can happen to anyone, even the man who co-founded the world’s most valuable computer company. Also remember that just as there are benefits in selecting more than one Bitcoin Wallet, there could also be benefits in selecting more than one Bitcoin Exchange.

So take your time, do your own due diligence and stay safe.

Confluence Wiki Page Editing Basics

Making Confluence Work Training CourseAtlassian Confluence TrainingConfluence Spaces are containers for related information. This simple framework allows us to split up the information that your company relies on, into logical chunks. When you separate your company information into logical Spaces, it’s easy to link pages in one Space to Pages in another.  You can also apply simple Labels, to Pages or any other content, including file attachments, which ties together related information across multiple Spaces. Watch our episode on the Power of Labels to learn more.

Create a Confluence Space

In the Space Directory, click on the Create Space button, which pops up the Create Space box. From here you have a choice of several Space Templates, containing different features, to help you get started. Choose the one closest to your needs.

  • The Blank Space allows you to create any content that you need, after the Space is created.
  • The Documentation Space template simplifies the process of building complex technical documentation, or manuals for your products or services.
  • The knowledge base will let us build an online help and support system, allowing you to store and organise solutions to common problems with products or services. This template organises “Troubleshooting” articles.
  • The Team Space is a good starting point when you know at least some of the people you’re going to be working with. It helps set up your Space Permissions for individual users, and includes a Blog for communicating Project and Team Updates.

The Space Key

The Space key will form the last part of the website address for this Space.  You can change this to make it more memorable, but keep it short.

Space Description

It’s important to add a clear Description for all of your Spaces. This helps all of your Colleagues, browsing in the Space Directory, to understand what this Space contains.

Inside a Space

Create Confluence Space

Inside a Space, on the left of the page is the Space Sidebar.  As you create content in the Space, the Sidebar automatically build a Navigation structure for your pages and other content.

Editing Pages & Automatic Version Control (Page History)

To Edit a page, click the Edit button at the top of the page. Editing Pages is a non-destructive process. This means that whenever you edit and Publish changes to any page, even if you delete content on the page itself, the page will not be overwritten. Instead, a new version of the page is created. The original version of the page, before any editing changes were made, is always retained as an older version.

Page History & Previous Page Versions

To see all the versions of this page that exist, click on the Page Menu button, and select Page History.  All previous versions of the page remain completely unchanged. This allows you to restore any previous versions of your page whenever you need to. You can also compare any two versions, and see the differences between them.

Space Permissions

Atlassian Confluence Space Permissions

  • You can check Space Permissions by clicking the Space Tools Button, and selecting Permissions.
  • In the Groups section, is usually the group name “Confluence Users”.  This group literally means all confluence users in your organisation.  It is normally included automatically when you  create a Space. By including this group, other users in your company can browse inside this space, and see updates on the Dashboard, such as Blog Posts or content changes.
  • Confluence is an Information sharing and collaboration Platform. However, there may be times when you might need a more Private Space. To make this Space Private, simply Edit and change the permissions for the “all confluence users” group, plus any individual users or other groups that you want to remove, and uncheck all of their Permissions.  When you press the Save button, the group, or the user, will disappear. This will block their access entirely to the Space.  They will also not see anything on the Dashboard related to the Space, such as updates or blog posts.
  • If you do make a Space Private, by removing groups or individual users, just be careful not to remove yourself, otherwise the Space could become locked, even to you.   Your Confluence Site Administrator will be able to unlock the Space for you, but that could be embarrassing.

What are Confluence Blogs for?

Blogs are used for Communications within Confluence. Blogs are a great way to share things like Project or Content Updates, Regular Project Status Reports, or Project or Team News.   Blogs remain permanently attached to each Space. They remain visible, instead of getting lost in email. The Blog post will show up on the Confluence Dashboard, for other users to view. This generates feedback from your teams, through Comments and Likes.

If you need to restrict who can see the Blog Post, for security, or to reduce spam, you can do this by clicking on the Page Restrictions Padlock, on the top of the page.

Page LABELS

Labels cross the boundaries between Spaces. Sometimes Team Members may need to make changes to Pages, or other content, in seemingly unrelated Spaces, but for reasons related to a particular Project. Labelling content, which only takes a moment to do, ties all related content together. It also makes content visible to Macros that have a Label option, which allows these macros to look across your entire Confluence site, such as the Task Report.

Labelling content is one of the best habits to get into.  Watch our episode on The Power of Labels for more information.

Reordering Pages / Space Navigation

Pages can sometimes get out of Order. The first time you use any Page Templates, for example the Meeting Note template, which creates two Pages when first used, these pages can end up in the wrong order – but only the first time you use that particular page template. New pages are always created directly underneath the location of the current page that you have open.  So, reordering pages is something that you will need to do from time to time, but it’s quite easy.

To do this, just click on the Space Tools button, and select reorder pages.

Parent & Child Nesting – Benefits

Pages that are created directly underneath another, will appear slightly indented in the Page Tree. Nesting pages this way, is called Parent and Child nesting. It’s neat, but it also allows you to easily restrict access to groups of pages, or move groups of pages, with just a few clicks. Whatever happens to the Parent page also happens to the children, nested underneath. If you Restrict Access to a Parent Page – all the Child pages automatically become Restricted also. You can also Move groups of Pages, to a new location, or new Space, using Parent & Child nesting. Just moving the Parent – the Children will follow.

The Create (content) pop-up box

  • From anywhere in Confluence,  using the Space drop-down menu inside the Create pop-up box, you can select in which Space your content will be created, regardless of  where you currently are inside Confluence. However, if you are new to Confluence, it’s probably best to open the Space where you want to add your content first, then press the Create button from there. This ensures that your content is published in the correct Space.
  • Page content will be created directly beneath the Page that you have open.
  • If you create a page, and it is in the wrong position on the Page Tree, simply use the Reorder Pages option, and drag your page content to the correct location.  All links in the page, or too the page will still work.

Page Templates 

  • The page template list can be customised. So, there could be more, or less, templates available on your own Space.
  • Page Templates are designed to make life easier, by automating common tasks that most teams need to do.
  • Pick and choose whatever templates will help you, and simply add them to your Space.

The Page Editing Toolbar

page editing toolbar atlassian confluence

 

 

 

 

 

 

 

 

 

 

 

 

 

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