Bitcoins

[Cyanoxide]

I kind of wish I invested back when when I first heard about it but even now I'm still sceptical about it. It just seems so volatile.

[definitelyalolicon]

Just kinda learnt about bitcoins some time earlier. Got interested and did my research. In conclusion, even with my high-end computer ready to mine... the electricity and internet bill just gonna cost me more than how much I could actually mine. third world country problem~~ sigh

[MattSmith]

I kind of wish I invested back when when I first heard about it but even now I'm still sceptical about it. It just seems so volatile.

The market is currently volatile, I agree. And it will remain that way until it gains a much higher market cap, the more money in the space the more it will stabilize because big hands wont be able to do as much damage. Large hands often manipulate the markets to their financial benefit at the moment, and to prevent that there has to be more money on the order books of the exchanges. Not a huge deal though, I think any price you buy at under $150k bitcoin is a good price. My price point may seem stupid, but keep in mind what I've already stated about the current market cap being so low, some large US companies are bigger than all of Bitcoin's market cap right now.. A single company.. As adoption takes place more and more in other countries that need the technology, as the US really doesnt NEED IT, and more investors dump their pockets into it. We'll continue to see spike after spike, both up and down in the price until eventually in the 6 figure range per Bitcoin.

Thats my two cents on my investment strategy.

That being said, do NOT invest anything you cannot afford to throw away! Pay your bills! Make sure you can eat! This is NOT a get rich quick scheme, this is investing in a very new and risky industry.

If anyone is interested in the tech side of bitcoin though I'd much rather speak about that, thats where i spend most of my time. The investment is just a neat cherry on the top of the cool ass tech.

Just kinda learnt about bitcoins some time earlier. Got interested and did my research. In conclusion, even with my high-end computer ready to mine... the electricity and internet bill just gonna cost me more than how much I could actually mine. third world country problem~~ sigh

Don't get into mining, mining bitcoin at this point is useless if you're not setting up an operation that produces its own electricity or you can produce the asics yourself with your own chip engineers. Buy and wait if you're looking to invest, thats all it takes. Buy bitcoin, HOLD YOUR PRIVATE KEYS! (OTHERWISE YOU WILL NOT HAVE YOUR BITCOIN FOR LONG, IT WILL BE STOLEN.) , and wait some years! BEFORE INVESTING THOUGH, READ MY QUOTE ABOVE PLEASE. Do not invest anything you cannot afford to throw away! There is no guarantee with any investment. Invest only if you believe in bitcoin and the tech that solves the problems it does, not because you expect to get rich quick. Seems most people looking to get into it recently are just into that, at least in first world countries. Outside of the US, there are lots of places using it because their dollar is worth nothing and its much easier to trade goods rather than trading between many different currencies they hold in the same area.


Note: I have bias in this industry, its been my main focus for years now. Should be warned on my statements above.

[Cyanoxide]

The market is currently volatile, I agree. And it will remain that way until it gains a much higher market cap, the more money in the space the more it will stabilize because big hands wont be able to do as much damage. Large hands often manipulate the markets to their financial benefit at the moment, and to prevent that there has to be more money on the order books of the exchanges. Not a huge deal though, I think any price you buy at under $150k bitcoin is a good price. My price point may seem stupid, but keep in mind what I've already stated about the current market cap being so low, some large US companies are bigger than all of Bitcoin's market cap right now.. A single company.. As adoption takes place more and more in other countries that need the technology, as the US really doesnt NEED IT, and more investors dump their pockets into it. We'll continue to see spike after spike, both up and down in the price until eventually in the 6 figure range per Bitcoin.

Thanks for the insight.

I remember back when I was considering it originally, it was worth about £600 (If I had to guess that was probably about $1000 USD back then) and they seized some bank or something in China and it dropped down to £300 because of it. I was pretty convinced at the time that it was way too risky. Obviously based on it's value now I was completely wrong but I think I still feel the same way about it despite that.

I don't think it's for me but I can definitely see the appeal of it.