Bitcoin Forum

I want to get in just for the fun of it,I'll just keep it for a couple of years just to have one more reason to be excited with the bitcoin phenomenon.

But right now,in a matter of few hours the price goes from 160 to 190 euros.What should I do?Should I wait for the media panic to slow down?Will it be 110 euros ever again?

Thanks ::)

Last week.

Funniest post I've seen here yet!

Trying to bust out of newbie mode!

Whenever you think the price will go up afterwards.

Are you wanting to invest money into the coins when these are right price?

For fun I would assume you just want to generate some using your hardware, investing money into it sound a little bit more serious (specially given the price of it at the moment)

If you think they are going to go up, buy now!!! Dont wait any longer!? If they crash down to $100 why would you buy then anyway? You want to buy because they are heading north, so jump on board my friend.

If you are in for a "couple of years" just buy now. Will the price drop/correct within the next 'couple of years'? Yes. Will it eventually be more than it is now? My bet is on yes. So, just buy.

Two answers.

1. Just buy it.  If it goes to thousands or more, getting in at $200 or $250 makes no difference.  Same if it goes to zero.  And the chances of today's market price being the all-time high are slim (but certainly nonzero).

2. dollar cost averaging.  Look it up.  I've been doing it since it was in the teens - the first time.

Best time to buy is now. Bitcoins are going to $10k USD mark my words. It may take a decade or so, but it will happen. In ten years when remember to come back and check this post. Maybe shoot me a message if I'm still alive I'll invite you to my yacht party.

There's going to be a price correction sooner or later, that is absolutely sure. But is it going to fall below $250?

Don't believe anyone who says they have the answer to that. When nobody knows it's going to depend on how much money you have to invest. I'd probably go for a couple of bitcoins now just in case if I were you, and if/when it falls below today's value I would buy more. It's risky as hell of course but slightly less than waiting for a drop that may never come.

last year

If you time scope is 1 year+ I'd split the orders up and buy once a day/week. That way you get the average price over the year which is fair. This reduces the risk of buying high and loosing a lot (but of course also takes the chance of buying low).

Setup an account at Mt.Gox and you can just buy tiny amounts of bitcoins every day. Good luck!

There will be a bottom for the day at 09:45:13.78 ET today when I sell everything!

i would buy a little bit now so you dont miss the train. Then if we see a correction buy a lot.

Turns out we picked the top .   hope  you bought intothe dip.   

Ah, small correction today, buy now  ;)

Buy immediately, while the market is recovering from the DDoS attack. The value will continue to skyrocket until it reaches $300 by the end of the month. By the end of the year I estimate it to hover around $700-800.

And in 10 years, it will hover around $1,000,000! Get in quick.

 ;)

Well you are already 'wrong" to say "I'll keep it for two years"   What if another bubble forms and another crash..you want to just blindly hold it through that.  A lot of people sold today over $200 and bought back at $130 or so.  And it wasn't difficult to do that besides the exchanges not keeping up.  So just don't blindly hold while it goes to $300 and then down to $10 or something...just not smart.

But short term, I would expect the price to drift downward over the next few weeks/months.  I sure wouldn't pay over $100 for it...maybe $75 tops for 1 BTC.   Otherwise risk is too high for possible reward.  

If you are anxious to get in on the fun just buy .1 BTC on ebay or even .01...better than buying at a time when technical analysis says sell.

This is what I did.  I have .02 BTC in my wallet and feel like I am part of it, even though I only spent about $5.00.

If you are really just buying it for fun, then you should just buy it now and not worry about the price (unless worrying is your idea of fun).

Not everyone has the time, temperament or inclination to try to buy the lows and sell the highs.  Sure, if you were good at picking the lows and highs you could double/triple your money easy.  But just because someone buys and holds, or merely buys the dips, doesn't make them stupid.

Of course the best thing to do is buy and then transact.  Buy some socks, buy that new laptop from bitcoinstore, whatever. 

I agree with those who say buy now.  I believe the media attention btc has been getting will drive the prices higher before it goes much lower.  If you are worried about it crashing, cash out after you have made a predetermined amount of profit, continue watching the charts, and buy again if you feel the time is right again later.  ...but I don't really know.

I still have a feeling that the value can dip again, so I'd say wait.

I would say the same thing.

I think the bubble is just starting to explode, and it will probably go lower in 2-3 months.

However if you want to make sure not to miss on anything, I started by investing a bit every weeks or two. Not always a lot but this way I was sure that on the long run it should be worth it.

Amen. Now seems as good a time as any.

Yeah, that's my plan. I just started using Bitcoin today even though I've been following its news for quite some time.

glad I waited after all!Thanks for the replies guys!

Now.

The best time to buy is the moment you find yourself saying, "Yeah, I thought about buying some btc, but now it doesn't seem as fun as it sounded and I'm no longer interested..."

That is, by definition, the bottom.

By the way, this will happen sooner than you think... I'm guessing within 72 hours of the time Mt Gox reopens for good

If it is only 1 BTC and for fun, you should buy it now because the rate will probably get back up again soon!

Have fun!  :)

I'm not sure but I think eventually cryptocurrency will leave the beta stage once new exchange rates that aren't incompetent such as mt-gox start up, they probably will stabilize and become a accepted mainstream on the internet. I'm in this for the long run, I will buy a few btc and forget about them for months.

I'm trying to figure this out too.

Do this.

I'd wait until the fiasco with MtGox clears up tomorrow.
My crystal balls say it'll drop perhaps as low as $30 tomorrow but after it stabilises for 4 or 5 hours it may rocket back up to $90 or more as I for one will be buying as many as I can at that price ;)


With it being P2P this is far more resilient than any centralised currency.  The wildly fluctuating value is an annoyance that can only improve when
1) The currency is used by more shops/retailers
2) More exchanges setup rather than just MtGox as when something bad happens there it currently effects everyone.
2) More people are involved to smooth out fluctuations of demand of the finite coins

I will be amazed if in 10 years Bitcoin is still trading at $100/coin, it'll either be $0 or $10,000 depending on how well it's embraced.

I too share the view that this is something where the longterm price is more important here so not too important when you buy in at this stage although this last month has been an intense ride.

I hope you haven't bought yet and ignore the geniuses who say it doesn't matter what price you buy at now because it's going to 10,000 some day.  Of course if you buy at 75 vs 225, you end up with three times as many BTCs....which yeah....MIGHT be better for you when it gets to 10,000. 

If it's money you can afford to lose and you want to get in for the long run I would definitely enter now. The most likely outcome is that it will be worth either 0 (highest probability) or 100x+ more , 5 years from now.  People will tell you to wait for this level or that level based on technicals, etc ... truth is that volatility is way too high right now and opportunity cost is high, if you can get your coin <100 right now I would consider it a good long term deal .