Bitcoin Forum

Hello all, I'm a new Bitcoin adopter (if you can call me one even though I haven't made it to owning 1 BTC yet) and have enjoyed learning about how bitcoins work. I'm really just playing around with faucets and coinbrawl in my free time to make some satoshi and then investing that money in loans over on btcjam and loanbase.

Despite all the warnings, I've enjoyed investing in other people's loans and been able to make some (very minimal with my minimal bitcoin) positive returns despite some investments being losses. I've only been investing for a couple of months and have found some very reliable borrowers. I know it's a risk because at any time someone can just decide to walk away, but with only about $10 of satoshi and zero of my own money at risk I am enjoying the game.

My next adventure I plan on starting in the next month or two (if my skill/luck continues) is to start storing some of my ROI in a paper wallet. I'm only expecting to deposit a few cents every couple of months into it, but am excited to learn more about how paper wallets work and are used. ::)

Finally, once I start getting consistent payments on the two loan sites on a daily/weekly business I think I'll start looking into BTC trading. Can't wait to expand my knowledge of Bitcoin and just wanted to say thanks for all the guides and useful information people post here to help newbs like me! :P ;D

Good luck in your adventures, they are very risky.
Paper wallet is good idea.
Have you watched rise and rise of bitcoin documentary movie? If not, enjoy :)

Not sure if the 777 campaign is still going for newbies, and don't want to increase the length of the thread in the beginners section, but is it against the rules to hop from one signature campaign to the other?

For instance I stay with the 777 campaign until I reach member and than switch to another campaign that pays more for members?

Also, is there way to make money off your avatar? I thought I read something saying you could make btc that way as well? Just read that you have to be full member to have an avatar, but curious just the same.

Of course that you can hop from a campaign to a campaign. You can do as you feel and as you wish. Of course you have to do it smart since the places are limited in campaigns, so don't leave one until you don't have a guaranteed spot in another.

And yes, you can make money from renting your avatar, but much less than from the signature campaigns.

https://bitcointalk.org/index.php?topic=615953.0

https://bitcointalk.org/index.php?topic=1087042.0

I believe that the avatar feature is only available for full members and above.  Also, be careful lending to these borrowers.  They will probably axam at some point.  Which sites are you using?

BTCJam has a very high default rate IMO. It is hard for anyone to even make an ROI even if you invest in the top rated users. Some of them would default eventually, the arbitration does not work and most provides fake ID. However, if you want, just diversify the investments and it would give you a higher chance.

Paper wallet is great for storing coins over a long term. Try using bitaddress.org to create the wallet. They basically work the same as any other wallet but the private key is on your paper. To spend it, you have to scan the QR code and key in encryption key if applicable. I personally fee mycelium's cold storage spending function to be quite handy.

I would agree BTCJam needs to change for it to be a good investment.  Right now if you have someone default they give you their info.... and are like here go sue them.   Problem is some are in different countries, some investments were so small a lawyer would cost more then you get, also the type of person who defaults chances are does not have a lot to lose.  You cant get money out of someone who does not have it.  Avoid unless they change to helping with defaults.

And paper wallet is a good idea at any investment amount.  Gives you a good way to practice being safe.  Even few cents you can try it and get use to doing it.

Welcome to the forums :)

Join a sig campaign to make the BTC

Welcome to Bitcointalk! It seem that you are not new to Bitcoin at all. It also seem that you have lot of knowledge in the investment world. Well, I tried leading to others but ... I am always afraid to risk my Bitcoin. I tried day trading on OKCoin, YoBit and Bittrex, and made me lost some of my Bitcoin. Since you have been lending and gaining profit for months, I think trading Bitcoin to earn profit is very good to you. Also, instead of fauceting, why dont you try to find a suitable campaign on this board and earn some Bitcoin while posting. I'm earning around 30 USD every month just doing what I like.

What do you plan to trade BTC with?

My suggestion would be to trade it with Litecoin or fiat...you can do both with Bit-x, see my signature for a link!

Welcome to the Forum!

Don't listen to anyone, do your own research and decide on your own...
It's different for everyone... yep

Even if you trust someone you should always do your own research.   Don't be afraid to ask questions about an investment.  Taking time to read may save you from a scam.

And everyone is different in how much risk they will take.  So find out what yours is, and don't risk more money then your able to lose.

Thanks for the response! I have a ways to go before I can even get an avatar, but every little thing helps! I've really enjoyed bitcoin and posting on the forum so far, so getting a little extra bonus for posting (no matter how small) is always a plus!

I think i've been very smart/lucky so far. My interest i've gained off of loan payments already exceeds my current loss from defaults. I agree, that even someone who has a good reputation for repaying loans can leave at anytime. Basically any loan you buy into you have a 50/50 shot of loosing your money regardless of past reputation.

Does anyone on the forums post monthly updates on how they're doing on any of these sites. I'd like to share my experiences to maybe take some of the fear out of investing on the sites with what I've learned over the past couple of months if people think that would be useful.

I forget who asked but right now I'm investing mainly on btcjam and getting the best roi there. I've recently expanded to loanbase, but think I did that too soon and became careless with some of my investments, but have also learned a lot in my losses.

Thanks! Do you know of any site that offers free coin to start trading with. Someone posted a site that I think you can get some free alt coin daily and trade it for bitcoin, but you have to wait 7 days after first signing up. Thanks for the advice though. I was thinking about starting with btc to fiat, but was considering looking at Litecoin as well. Now that you mention it I will probably expand to Litecoin eventually as well and start seeing what I can get myself into haha  :o.

As far as never trust anyone I always trust but verify on any information I receive. However with so much information to take in and all the possibilities of bitcoin, it's always good when people show you a place to start. Otherwise I feel like I'm just running in circles. Research is good, but others personal experiences and research can also save everyone a lot of time!

For sure I always ask questions and look at previous loans. It's easy for people who buy reputation so generally what I look for is people who take out consistent loans on a steady basis. I also look to see how much they are investing back on the site as I would assume if your putting money back into other people's loans you're not likely to run off with money.

It is a risk because I've invested in sketchy loans with low ratings and made pretty good returns on my investment. On the other hand i've put some money into what I thought was safe bets with consistent loans with high "borrower ratings" only to receive a single payment. Investing a similar amount in a bunch of loans (especially in a few with low ratings) have kept me positive so far.

Welcome on board! Bitcointalk.org is the best place to learn, discuss about Bitcoin and make good business using your skills.

Welcome to Bitcointalk. It for sure is the best place to learn how to move in Bitcoin world. Like you can see users are very friendly and helpful here, but like in real world you can find here people who want to use your little knowledge about BTC, so be careful.

Bitcoin is still "risky business" ;) So if you decide to invest, at the beginning, use only as much as you can lose.

Welcome! 

As some others have said beware of loans on BTCJam.  I have had 0 luck there, someone always defaults and messes up the ROI even when spread out.  There just seems to be too much fraud there to make a honest profit.

Greetings all,i am new to bitcoins i am not fully much aware of this process but i would need some help!!!!

February 2015 i met a friend who told me anytime i wanted to buy a plane ticket he could buy it for me with bitcoins,he actually did i had to send him $125USD to India via Money Gram and he told me the money was in Escrow for 45 mins before they could buy the plane ticket for me online less than a day after he sent me the reference # for my plane ticket abut currently i cant get a hold of him so i need some assistance.so that's y i went online to see how best i can find someone who can assist me

Basically i want to buy a plane ticket from Kingston,Jamaica to Fort Lauderdale end of November but i wanted to use the bitcoin method.

So if there is anyone who can assist me i would appreciate it.

You can always reach me on ICQ UIN#662549492 or via email omarberry@gmail.com

welcome its nice to see that more and more new users join bitcoin community on this forum i would recommend a paper wallet to store your btc good luck