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Thinking About Getting Bitcoin...Advice Please?

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posted on Nov, 29 2017 @ 11:55 AM
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originally posted by: DBCowboy
a reply to: trollz

Of course.

Tell me, how many bowls of soup could I buy if I had nothing but a single bitcoin on my computer?


Alot.
Xapo debit card
Tenx debit card
Shift debit card
Monaco debit card
...among others.




posted on Nov, 29 2017 @ 11:57 AM
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a reply to: IAMTAT

Silver is the poor mans gold. At 17ish $ an ounce you can pick up coins (silver eagles) for about 20-21$ depending on your area. Silver is also alot easier to say good bye to because it is not 1,290 $ and ounce.

There are many many good solid crypto coins to own. But if things go side ways-they are worthless. And I own some crypto and there is money to be made.



posted on Nov, 29 2017 @ 12:08 PM
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originally posted by: trollz

originally posted by: DBCowboy
a reply to: trollz

Of course.

Tell me, how many bowls of soup could I buy if I had nothing but a single bitcoin on my computer?


Alot.
Xapo debit card
Tenx debit card
Shift debit card
Monaco debit card
...among others.


Uh, okay.

I guess you can buy stuff.

It just makes me uneasy.

Guess I'm a luddite at heart.



posted on Nov, 29 2017 @ 01:13 PM
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Whatever you do, DONT LEAVE THEM ON THE EXCHANGE!! Keep them in a cold wallet.
I bought 34BTC back when they were under $200 and the exchange I used re-branded and ran off with hundreds of people's BTC, including mine. We have tried all avenues to track down/litigate/sue this Indian prick, all to no avail.
I'm now grovelling poor as I was all in. Just recently the re-branded site threatened me with legal action unless I stopped running around on Twitter warning people about them. It makes my blood boil just to talk about it. BTC are worth over $13000AUD each. FML.

The exchange was called Igot, they are now known as Bitlio. Consider yourself warned.
Bitcoin is awesome, I still think it's a game changer, but be very careful.



posted on Nov, 29 2017 @ 04:52 PM
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a reply to: homerJ

Man that sucks. I feel for you. That's even worse than not having bought BTC 3 years ago

Did your account migrate to Bitlio and did they offer to exchange your BTC to IGX?



posted on Nov, 29 2017 @ 09:06 PM
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Okay. I think I've chickened out. It's not so much the money, because I know I'm not going to invest more than I can afford to lose, it just sounds like such an ordeal. I thought it might be fun, but it sounds like a real pain in the booty.

O R D E A L.

I'm trying to simplify my life as I have great expertise in complicating things, and this doesn't sound like simplifying things to me.

Thank you guys for indulging me!



posted on Nov, 29 2017 @ 09:14 PM
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a reply to: angeldoll

You're not alone in that sentiment. It's the main reason folks are so hesitant aside from the risk.

Few more months and there should be many more options to simplify it.



posted on Nov, 29 2017 @ 09:29 PM
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a reply to: JinMI

Yep. Just look at the comments here, "rollercoaster, panic selling prevention, this wallet, that wallet, keep it here, no there, buy this, but not this, I couldn't get to it, and for God's sake don't tell anybody!"

None of that appeals to me. I need straightforwardness. I mean, I know it's a gamble, and I don't mind that.
But with this, you might as well play the stock market. And I've already done that. Lost the tee-shirt and the coffee cup.



posted on Nov, 29 2017 @ 09:35 PM
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a reply to: angeldoll

I started late in the summer. I'm already up almost 4x my initial investment, and I don't see it going anywhere but up even further. However, I've also spent considerable time reading, learning and failing a little bit as well.

It's your money, you decide how you want to spend/invest it and if the time is worth the result. My own research have determined that it's much more risky than the stock market, but also MUCH more profitable. Sure beats my 401k and social security


If you want a place to start from just to 'get in on it.' Got to Coinbase and buy some BTC. Then store them in a wallet so you have your own private keys. bitcoin.org...

Let it make you money while you research any other possible investments. Or, just set it and forget it for awhile.

BTC is 10.5k now. Was 11.5k before the correction when it went down to 9.5k and bounced back. All in one day.

coinmarketcap.com...

Any Q's I'll answer the best I am able.



posted on Nov, 29 2017 @ 09:44 PM
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We got it to work. Only got $50 bucks worth just to test it out.

ETA: Bought a little Ether too.
edit on 29-11-2017 by iTruthSeeker because: (no reason given)



posted on Nov, 29 2017 @ 10:12 PM
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a reply to: JinMI

Okay Jin. You've got me thinking about it again. Your way sounds... not so forbidding. I think I could follow your lead.
But tomorrow. I'm tired tonight, and the dogs are begging to go out.






posted on Nov, 29 2017 @ 10:17 PM
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as my grand daddy always told me, "if I can`t buy it and bring it home with me in a bag, I ain`t buying it!"



posted on Nov, 30 2017 @ 12:19 AM
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Some important things I've learned.

Keep your bitcoin and any altoins offline in a hardware wallet. That way an exchange cant run off with them or a hacker can't steal them. I've heard horror stories and they are not pretty.

Make sure you do not forget your private keys or password. Copy them and keep them safe.

Don't tell anyone how much you own, it makes you an immediate target for any hackers online.

Do not keep your coins on an exchange, you do not actually own your coins if they are on the exchange. Put them in an offline wallet. I know I'm repeating myself but if bitcoin goes up to 100k that is a lot of money and hackers will take their time to steal it.

Do not sell. Hold. Always hold. Buy when it dips. When bitcoin dips it is a bitcoin sale, the sales seem to be getting shorter now too.

Also it is the opposite of fight club. Always talk about bitcoin and tell everyone you know about it. Tell them it is a deflationary currency and by saving you gain money instead of lose 2% a year due to "inflation" which is another word for "we steal money from you"
edit on 30-11-2017 by booyakasha because: (no reason given)



posted on Nov, 30 2017 @ 12:43 AM
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originally posted by: angeldoll
a reply to: JinMI

Yep. Just look at the comments here, "rollercoaster, panic selling prevention, this wallet, that wallet, keep it here, no there, buy this, but not this, I couldn't get to it, and for God's sake don't tell anybody!"

None of that appeals to me. I need straightforwardness. I mean, I know it's a gamble, and I don't mind that.
But with this, you might as well play the stock market. And I've already done that. Lost the tee-shirt and the coffee cup.




Friend, just open a Vanguard account and invest in a Target date fund or else Total Stock market. That is like, the SIMPLEST way to invest in the market. Set it and forget it.



posted on Nov, 30 2017 @ 12:45 AM
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a reply to: booyakasha

Okay for shirts and giggles, can someone kindly explain if one was to get on Coinbase and buy some coins (not necessarily BTC), what is the 'hardware' you guys are talking about storing it on. 'Cold storage?' Please explain like I am 5.



posted on Nov, 30 2017 @ 06:30 AM
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Bitcoin is dangerous for environment. It is unfair for Africa nation & others who cannot mine bitcoin. It must be stopped.



posted on Nov, 30 2017 @ 08:03 AM
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a reply to: Ameilia

www.amazon.com...

Offline key storage, or cold storage. Some alt currencies aren't supported however.



posted on Nov, 30 2017 @ 08:37 AM
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I'm feeling better about this now, too.
Because I'm not too savvy about all things digital, I'm going to go in with a smaller investment first.

I have to admit, it's very intriguing and interesting.



posted on Nov, 30 2017 @ 10:06 AM
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I wonder if this news will drop the price:


IRS Nabs Big Win Over Coinbase In Bid For Bitcoin Customer Data

www.forbes.com...



posted on Nov, 30 2017 @ 12:25 PM
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originally posted by: IAMTAT
I wonder if this news will drop the price:


IRS Nabs Big Win Over Coinbase In Bid For Bitcoin Customer Data

www.forbes.com...


Oops.

I'm glad you came back to tell us what you are doing. I was curious. I'm still thinking. Might wait a few more days to see what happens with this IRS thing.



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