Bitcoin Forum

Hello friendlies..

I am new here and to the Bitcoin world too. Seems that I have kinda missed the hype about Bitcoin from 2009 until now :( but I hope I am not way too late to jump in the wagon. I hope I can make friends here to help me guide and talk together about Bitcoin and what can I do with it.

Maybe some experts can ease up my thought. I have in my mind to get some Bitcoin at the end of this month but I have some hesitation due to the 'halving day'. My plan is to get around 1 Bitcoin by buying them at this end of the month and immediately invest in a cloud mining operation to gain more Bitcoin in the coming months. Do you guys think this is a good plan or is it wiser to get the Bitcoin and wait until 'halving day' before investing in the cloud mining operation?

Well this is my first question and I hope we can have more further discussion on this later on what to do best.

Regards,
Adfy

don't invest in cloud mining. they're mostly fake —ponzi schemes in disguise— and will scam you sooner or later. the supposedly legit ones are too damn unprofitable and it might take more than a year for you to reach ROI.

Yea, do not invest into cloudmining services, as much they're attractive to you, believe me they aren't. I got scam few times and I wouldn't suggest those services to anyone..

Exactly, best investment is to buy and hold.
You should watch bitcoin documentaries as much as u can. It will describe bitcoin world in fun and fast way :)

Wow.. I was going to the wrong direction from the start! Thanks a lot.. maybe I  have to warn all my other friends in regard to this. They are pumping in a lot of serious money to the bitcoin cloud mining services. Hopefully they have time to get them out. Can the money we purchased the services be returned back?

Yes wait for the incoming bitcoin halving event to see which cloud mining site is legit because as of now many cloud mining sites are turning to scam because they ain't true they are just like HYIPs out there that promoting their site and scamming people who invested to them if they get the target amount of bitcoin.

I see that the price of bitcoin is getting higher every day.. should I get some before it becomes too expensive and too much money needed to get one? And I hold dear to it until the halving day comes and at that point of time the price is rocketing sky high?

Cloud mining is risky for this year because of the halving,so better to stay back on those.cloudmining sites,
Never invest on hyip/doublers cause they are absolutely scam..

I think it's still a good idea to invest bitcoin. Because the price of bitcoin keep increase and i'm sure it will keepp increase until the halving come.

Be careful right now because in july the incoming supply of Bitcoins will be half of what it is now. There's a lot of speculation right now but mostly the price will rise until then. Then who knows what.

as far as I know after joining this forum. I think cloudmining its good. But many people say do not believe cloudmining, so decision in your hands. but I recommend using that money for trade, because it is safer and you can manage your own money. Thank you

They say until the halving day come the price will increase constantly and after the halving day arrive it will start to drop back to a certain amount significantly. Also those with ponzi schemes might collapse due to unable to pay the members. Old hardware also might be unprofitable. Would it be wiser to wait for the purchase of Bitcoin until then because Bitcoin seems like getting a cleanup? Maybe around 3rd or 4th week of July is a good time to actually buy?

 
You should buy bitcoin right now.,before its too late.. the price is already 680 and still going up.
Buy bitcoins as many as you can then hold it before halving.

I thought to buy before halving still safe, but if after halving it is not certain that it will continue to rise or could happen dump.

Hey there, thanks for joining this forum! I'm sure you'll enjoy being here and chatting with others.

Regarding your cloud mining plan, personally I would not invest in any cloud mining sites simply because most of them are ponzi schemes disguised, or they won't pay you any real profit. Like genesis-mining, I had a contract with them but it's not returning even 30% of my ROI after half a year.

hello, I am also new here, now I only play faucet. still looking for a good way and was studying trade :)

So from what I have been given advice, the way to get some gain is:

1. Buy Bitcoin, keep it safe until price is sky rocketing and then sell them.
2. Buy Bitcoin, trade it buy low sell high.

To avoid loss don't do this:

1. Buy Bitcoin, put into cloud mining services.
2. Buy Bitcoin, go gamble them off.
3. Buy Bitcoin, put into High Yield Investment Program that's is a Ponzi Scheme.

I though Bitcoin is more fun. It looks more like normal currency to me and in high motion too!  :o

Really a lot of the ideas are not so great below were options I did not vote though...

Wait until Halving Day then sell it. - We can't possibly speculate what will happen on having day.  
Put it into cloud mining service. - If your serious hashnest is pretty much only legit one out there. I like owning gear though so might look into buying and hosting.
Put it into HYIP. Basically asking to lose money to scam
Go gamble to try get double the amount. Obvious reasons horrible idea.  Overtime you will lose it is hobby not investment.
Keep it until no more bitcoin to mine then sell it.  There will always be mining some day far far in future it should be for the fee's.  But always mining.

Your best bet depends on your goal.  Are you wanting to be a miner? Are you wanting to hold? If you are holding do you have a price your wanting or are you more long term? So many different valid options but you need to decide what your goal is.

We are seeing HUGE jumps in BTC value right now.  So we are already seeing effects of having it does not wait till the day of it.  It is not like it is a secret when having is happening so that day might not be huge.  We honestly just don't know.   With having known before I think effects are happening now not waiting till day (how btc is skyrocketing supports this).

There is too many mining sites, i can suggest you to choose and mining with one of them. i think it is very right time to mining because btc/$ very high before halving you can gain more btc with more preciously. For example in January 2016 mining sites give full repayment approximately 3-4 months, but now in 1 month you can gain repayment almost half of your money.

all of your options are bad. and some of them are considered even terrible. you should never even call things like HYIP and ponzi schemes as investment , they are simply scams trying to take your bitcoins and run while staying anonymous.

also stay away from cloudmining in general because they are either scams or they are not profitable at all.

and as for selling, you should stop thinking about selling bitcoin and getting out for a quick profit and start looking at what bitcoin really is and how you can use it as a currency.

Hold it until halving to get up to 200% of your investment in bitcoin just have some patience to wait some more days to get the huge result in your bitcoin wallet.

If you only have one then hold it forever and give it to your children when you die. It will be worth a lot then provided you are not dying in the next few years.

i wouldn't choose any of the POLL options here. they are all bad. these are methods to lose bitcoin not earn profit on it.
if you want to make a profit the lazy way, hold your bitcoin until the end of the year and see where things are going from there.
the not lazy way is doing something with them and not investing in scams like cloudmining or hyips, i mean real investment or the popular method of trading it.

true! All the options do suck. This is starting to look more like a troll post then anything serious.

definitely not cloud mining or any of the HYIPs, simply because they are all ponzi schemes. And ponzi schemes are all scams. Whether they collapse now or later, it's a matter of time.

Gambling could be an option, i guess it's really up to you and your risk appetite.

I'd definitely go for the holding till halving day. And remember, dump it if you feel like the price is going to be too unsustainable. However I don't think that's going to be the case after halving.

There might be minor adjustments, but the price will stabilize after halving.

Yeah and either going for cloud mining or gambling where there is chance of loosing your coins, its better to hold till the halving, as it can give you best profits.

Thank you all  for the word of advice. I put the poll because that is the list of options that I can think of.. but it seems that none give a positive result. I'm gonna close em up. Right now the price already has gone high.. and retract a bit, but not as much as 50% from what it has gained. I think it can get down a little bit more but nothing is solid as there are a lot of fundamental and sentiments that can affect the movement. I have not yet bought any bitcoin and still watching the price market to consider its short term price target until Halving Day. Is there someone who analyse the market price and can give a quick analysis?

Yep. Cloud mining companies are either scams or don't pay you your ROI back at all. All the legit ones wouldn't be giving you any profit, and all the scam ones will go scam due to ponzi structure eventually.

So holding is defintiely going to give you the best profits.

Yeah exactly rather than any form of investment or lending, holding is the right option to grab the profit without much risk. Also with the ongoing increase one can hope for a bigger price after halving.

Hi dude welcome on board. Join a best signature campaign. Go through the threads posted in this forum. These would really guide you earning BTC and how to fill in your wallet. Best thing is now, the value of BTC is really increasing. This is the time to earn more. All the best dude.

I think it's still a good time to invest on bitcoin and you don't need to wait the halving first. Better you invest from now, because many people speculate the price of bitcoin will increase so high,.

As the value is really increasing now and the halving is nearing up, it is better you hold the BTC you have earned. Go through the threads in forum. There are many ways to earn BTC now. Use your skills to develop and design things you are well ok of. This would also add more to your wallet.

By the looks of this, we seriously need someone with enough experience and knowledge to investigate these "Cloud" mining services and to give advice on investing options between the true miners and

the Ponzi schemes. I have yet to see ANY proof that a single one is not a Ponzi, but I am no expert. I have tried them before, and I never ROI in any of those attempts. I doubt if I will ever drop one

dime into any "Cloud" mining site again, but that is just my decision, based on my previous experience with them. Good luck, and hold onto that Bitcoin for as long as you can.  ::)

I'm new here too and not a guru of bitcoin. But I've had a keen interest in economics and finance most of my life. To understand what good investments are, it helps to study the most successful investors. None of them made their fortunes from cryptocurrencies.

A lot of people, including me, believe an investment is something that produces cash flow. For example, stocks, bonds, commercial real estate. Warren Buffett has said many times that gold is not an investment because it produces nothing. The same can be said of bitcoin.

Incidentally, some people bought bitcoin when it was worth $800, or $900, or $1,000. Last year it was down to $200. That shows that bitcoin doesn't always go up.

There are different types of investments though.  When you talk about bonds lets say picking one there is MANY levels of ratings, to base  how risky it is.   So if you go out buy some AAA bonds... yes you will get money back but it's small return due to security of it as AAA does not normally default.

The huge difference is bitcoin would be ranked in the high risk/high reward investments.  This is in part as it is still pretty new we have no idea what it will look like in 10 years.   So you can possibly gain huge returns (or yes loss's aswell).  If your looking to study sucessfull investors it's going to be very hard to find the stats with BTC being so new compared to traditional investments.   The studies your looking at chances are most don't even include crypto investments.  

I don't agree with "None of them made their fortunes from cryptocurrencies.".  This means your looking at wrong study or one that does not include it (which is most chances are).  As there are some that have made fortunes without a doubt.

My point is that investments produce cash flow. That cash flow serves as the basis for the bond ratings you're talking about. Bitcoin produces zero cash flow.

Things that don't produce cash flow are speculation, not investment. For example, art, jewelry, rocks. You say that you don't agree that none of the most successful investors made a fortune from cryptocurrencies. Then can you name anyone who has become a billionaire from bitcoin?

History shows that the biggest fortunes relied on cash flow. I don't see how bitcoin can produce cash flow. I don't need to wait 10 years for studies about bitcoin to come out. Do you think people will make bitcoin fortunes by earning cash flow from cloud mining services, HYIPs, or some fresh scheme?

Investments can be made in bitcoin as in fiat.
But you should know what are you doing.
Ponzi scheme was invented in 1882 to work vith fiat investment.

Actually bitcoin still at a very beninnig stage, all bitcoin company still in startup stage living with venture capital.

Investing betcoin at this time mean you use your bitcoins to pay workers(developers) and pay services(hosting) and start your own business with your own idea.

Investing in someone else idea is very very risky, as there are no old consolidated company in bitcoin economy.

Cloud mining can't be profitable as mining companies earn very little profits compared to their investments. Bitmain monopoly is killing every mining company selling very overpriced hardware, also hashnest ghs are so overpriced that most of the time you end up losing money.

Mining have to change, it can't be only buy the best hardware make it running where power is cheap and profit. Too simple to be sostenible. Difficulty grow too fast and bitmain become richer selling overpriced hardware. Miners should stop buying their hardware. Bitmain hardware is the best out there, but miners are selfkilling buying their hardware. Miners can't see how evil this monopoly is becoming.
Bitmain is manipulating difficulty, they can estimate better then everyone else how much difficulty will grow and price miners consequently.

for me you should wait till the halving comes . Cause for me its too risky  maybe some sites will go down after  halving .

Yeah. That's right.  until now still rising the price of btc. 😇

How weird to see most of all agrees that cloud mining is most probably a scam due to the nearly impossibility to gain profit in reality whilst most people around me is super hyped in putting a lot of chunk of money into one cloud mining program - HashOcean. I am scared to tell them what you guys pointed out because I am new at this Bitcoin thing and they are the one introducing Bitcoin to me. How must I put it out to them in a gentle and subtle way so that they might see the light??  :'( :'( ???

You came at the right place bro...that thread helped me also as I am a newbie as well..started learning about bitcoins and cryptocurrency

I think that the best thing to do is definitely to hold your bitcoins until halving day, because all of the other options are way too risky to actually do. However, you could if you want to yourself.

Investing in a ponzi is not cool. You're robbing other people essentially.