Bitcoin Forum

Hello all,

I'm new to this and have started learning about the characteristics of bitcoin, how to mine it and the pros and cons of it. Although I have learnt the basics of mining, I personally don't plan on doing it as simply put I do not have the resources to do so. So rather than mining, I am looking into purchasing BTC through localbitcoins then transferring it to my Electrum wallet.

My questions are: (some of these have been answered in older threads but I just want to be reassured please)
- Would you advise on purchasing BTC now before August 1st?
- Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.
- Would you say, in your opinion, ETH would be a good investment?

I only plan on purchasing a small amount of BTC (3-4) to start with.

If you have any books (or articles) you'd like to share that'd be a good read, please do share!

Thanks,
Makkie

Wait a bit longer, price will most likely go down in the future.

Electrum is a great wallet.

You can, probably, buy ethereum at a much lower price than todays.

When people say we are in a 'bear market' it will be the time for you to buy bitcoin and ethereum, don't fear missing out, follow the market and you'll find a good entry price.

Now is not the time to buy BTC, but for ETH i guess. Prices of both coins might drop in couple of days or week, and after August 1st that's the only time we can surely predict what will happen.

What if the price doesn't drop and increases? Many people (inc. those who predicted correctly in the past) suggest that it'll increase after Aug 1st. I am clueless whether to purchase before the event or after. Maybe 1 BTC rather than going for 3-4 before the event?

- Date doesn't matter much, the only thing you have to look at is price of bitcoin. You can wait for few more days for possible correction in bitcoin price to buy some.
- Yes electrum is way more secure than any other web wallets. Don't upload that seed online.
- ETH can also be a good investment looking at its price right now, it is under correction so its good time to buy some.

1. You should better buy when it was 1800$ , it was 2-3 days ago 1800$ - 1 btc , if you were buying it , actually you could have profit 1000$ just for 1 btc , but stay tuned on coinmarketcap.com , when he goes down , buy , the bitcoin is going up
2.Hmmm I am not sure about Electrum but if you want a safe wallet , go on bitaddress and create one , i think is the safest method to get a wallet
3.Yes it will be a good investment , ethereum reached 400$ just in 1 year , and about bitcoin took some years to reach 400$ , I bought 500 eth when it was 7 usd and I still keeping him

Well you are just a few days late for purchasing bitcoin. The price plummeted to around $1800-$1900 a while back and that is the perfect opportunity to buy because the price is low. Remember, buy low sell high. So I urge you to wait for a bit before getting bitcoin.

Yes, Electrum is one of the best besides Bitcoin core wallet. Fast, lightweight you set the fees when transferring your coins, best of all you have control of the private keys and the seeds.

Ethereum can be a good investment but I don't know if it can reached again the level it got a few months ago when it touches ATH of more than $400. Right now, even though its red, the price is still high to buy. Just wait till it touches below $200.

I don't have books to share. If you are looking for a read. This forum would be the best. There are a lot of knowledgeable members here. If you have question just ask and I'm sure someone will answer you. You should also familiarized yourself in this forum and just go around several threads, you might find your answers there. Goodluck.

Why do you think so? Please share?

You know 90% of people here are so optimistic especially after BTC bounced back to $2500+. However having examined the price chart closely, there is a voice in my head telilng me there is a high chance of another pullback to below $2K.

BTC will come down shortly, more safely buy BTC. I am worried about ETH, lately there is a lot of fishing they have lost this Coin. This affects the ETH price. That's just my prediction.

If you planned to have a long investment then you can buy and store bitcoin, but if you planned to trade it, I will suggest you to hold back the price is recovering but still not too stable, investing eth is also a good investment, it got a great future and electrum is one of the recommended wallet for offline wallet

Do not buy bitcoin now because the price is still going up, if later the price goes down it is the best time to buy bitcoin. Using Electrum to store the coins is a good choice and I also do that. As long as you have private keys you will safely store your bitcoins. Do not forget to save the privat keys. ETH is a good investment, maybe that's true. Because the price of ETH is now down and there is the potential to rise again, you can also invest there.

Taking bitcoin in consideration,if segwit2x happen then price will boom ,and other altcoin price will go rapidly down.then you have a great opportunity to buy major altcoin or ethereum tokens ,tokens are much more profitable then any other altcoin as project will buy back token at ico price that remove chance of loss of your money.

for mining simply google it and you will find good articles to read. i think coindesk.com has a good one for beginners.

things like August 1st will always exist as long as you are with bitcoin, if it is not Aug 1st it will be another date, another drama, another uncertainty! history is filled with them.
just measure the risks of each of these and invest what you can afford to lose. it is a very simple risk vs. reward strategy.

Electrum is a good wallet, and if you use it properly it can be safe. using properly means cold storage (read electrum documentation) and on a clean always offline computer.

ETH is a good investment from time to time. right now i don't like it, because the risk of falling down hard is higher. and i have already made my profit when it was hot and rising in the initial pump. so i don't care about this stage at all. and prefer staying away.

As suggested by everyone here, bitcoin is not good opportunity to buy at this point. You could have done that a week ago I would say. Anyway, the opportunities will come and go forever. Not advisable to buy or do any kind of transaction when you are in this important week of bitcoin split. Let the first week if august pass and we can discuss or feel the opportunity that may rise from then onwards.


Tip: If segwit is completely from the side of bitcoin supporter then the price is hundred percent rising above $3000. Then you must not buy bitcoins at that point. :-)

So what your saying is: Don't buy Bitcoin unless it's going to rise in which case you should buy Bitcoin? ;D

It's going to be a turbulent week, so unless you got strong hands it may indeed be a good idea to stay off the markets. But should the moonshot really occur, you'll only have little time to join the fun.

I don't think anyone can tell what will happen after 1st of August. If decided to invest money in the crypto market then I suggest don't wait but start buying in small quantity in regular intervals so that you will get a best average price. Because after 1st August if prices suddenly go up then you may not be buying it so buy some now and later some more.

so buy bitcoin when you're sure it will go up based on their comments ?
and this "you are in this important week of bitcoin split",doen't people saying bip91 locked in ?
which mean we won't see chain split,no ? if you're waiting for first week august and then make a decision,you'll lose a lot of opportunity.
example ; segwit implemented and the prices surgin on 1 august,buy keep waiting and each BTC will be around 3500$~4000$ doesn't that mean you're missing 500$ profit for each Bitcoin ? (well,whatever it's up to you).

indeed Bitcoin price is surging these days because a lot of people already regained their confident,
rumour said bip91 locked in which mean we won't see chain split (not determined yet,because the time has not come.Miners still can choose the opposite)
if i was you,i'll think about how long i will keep it.if you keep it for longterm period such as 2-4 Years it's a good time to invest becauce no matter what will happen Bitcoin price will recover and go higher from his past ATH.

Electrus is the best so far for offline wallet,and many people used it.Other than that,people also use Trezzor

ETH is a good coin too,keep it and holding it will never let you down.but if you want to invest how about try other altcoin which is have a good potential growth and potential doubling your ROI.

My strategy for the situation in present is split my funds to 3-5 parts, use 30% for buying at now, 30% depend after August 1st and 40% keep safe money by withdraw to FIAT or holding Bitcoin in cold wallet. Because from August 1st maybe have HardFork Bitcoin and very risk if still holding Bitcoin on exchange

The simple answer is : Yes.


Purchasing on the day of august is not allowed however the you buy before or after that depending upon the situation of bitcoin and where does it stands.
 

Yes it is very secure vault and you have followed good practice of storing seed. You are good to go with secure savings.

 
After bitcoin ETH is the only coin that is worth investing into.

My questions are: (some of these have been answered in older threads but I just want to be reassured please)

- Would you advise on purchasing BTC now before August 1st?

  = In the first place, only fool and stupid person who will believe on what will happen to August 1, in fact, it is only massive FUD to deceive majority of the bitcoin enthusiast.  So, I could say you can buy bitcoin anytime you want whether before or after August.

- Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.

  = Yes, it is much better for you to use Electrum to store your bitcoin by using this wallet.

- Would you say, in your opinion, ETH would be a good investment?


  = Yes, it is good in my opinion to invest or buy ethereum. I believed it has also good future ahead like bitcoin
but not the same price value as bitcoin have.

If you buy BTC now and the price increases after 1 August, that would be great.
If you buy BTC now and the price drops after 1 August, then you can always trade until you make up for the difference, + some more.

Hi, few days before August 1 , expect the bitcoin to dump. As many will sell their Bitcoins to altcoins to secure their Bitcoin value from any possible coin split.

Buy Bitcoin after August 1.

Regarding ETHs, invest only in small amount. I believe whales would dump ETH more as its chart says.

Interesting is the fact that a week ago Bitcoin fell by 400 or 500 dollars. And today again rose to a fairly good level of $ 2,770.

Thank you all for your informative replies. I have decided to play the waiting game, hoping it'll fall soon.

I feel it is best to buy bitcoin in small quantities once in every week. It's very difficult to time the market and to buy at the very bottom before it explodes back up. The same can be applied to any coins. I do feel, that Waves, LTC, ETC are other good candidates after BTC and ETH. All the very best!

That made me laugh, can anyone ever be sure when it's going to rise?

I also used to suffer from this question
"What if the price doesn't drop and increases?"

and believe me, it has made me buy at bad times and most of the time i say, 'damn, i should have waited. ... but I also learned it really doesn't matter.

If the crypto is 'good' with devs working on it and is a good project and people are interested in it, the price 'should' eventually rise. 

so, if worse comes to worse ... buy it and hold, the only time you really lose profit is if you sell before you are in profit.

theres always a risk but if you wont risk you wont gain
investing in bitcoin has a little risk and the risk is maybe you might miss a price dump in case but we dont really know what will happen on the aug 1 event,but definitely btc would go up,  for me its wise to have bitcoin, there are lots of good altcoin to invest in, visit coinmarket cap to check some infos of those crypto coins...
just always be patient for the right time to accumulate some alts always check the chart for possible low bids that you can expect

If you are newbie only in this field of industry, it is much better for you to learn and study first about in bitcoin.  Know what bitcoin is, the benefits, bitcoin usages, and the features of bitcoin. About buying bitcoin you can buy any time you want whether after august or before you can buy.

BTC and ETH both are good but in my opinion don't buy  bitcoin now. wait few days.
And Electrum is  good wallet.I am using it and i am satisfied.
Now time to buy ETH. ETH will pump more.Also you can wait when ETH will dump,under 200$ then you can buy and hold ETH.

Good move, this strategy is worth imitating. All exchangers have warned "do not transact Bitcoin". Very risky.
Hope this is solved with soft fork. So everyone will enjoy bitcoin.

Hi Makkie!

For your questions, I'd give you the following answers:

1. It is still safe to buy Bitcoin now until 12 hours before Aug 1

2. If Electrum allows yo to export the private keys for your BTC, then it would be a safe place for your funds during the August 1 event.

3. ETH is a good for investment but I would suggest you also consider ETC.

Also, I have sent you a private message. I hope you'd find the time reading it. Thanks!

Welcome to Bitcoin, Makkie!

Here my answers to your questions:
- Would you advise on purchasing BTC now before August 1st?
Personally, I am monitoring the market and I will buy BTC when it hit $1800 to $1900 before 1st of August.
- Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.
It is better to store your BTC in paper wallet.
- Would you say, in your opinion, ETH would be a good investment?
If it is for the long term, I will say yes. But maybe you would like to consider Antshares.

Just 5 days is there, and the price is now $2700. In just 5 days the price will drop $1000 is it possible and is there any reason to fall price suddenly. I don't think again the price will go under $2000. So you already missed the right chance to buy bitcoins. You want to wait then wait only 5 days left.

For me, if i'm at in your position, I will not purchased btc because we really don't know what is the exactly happening on August 1. So I will buy bitcoin after August 1.
It's up to you if you use electrum or not. The point is to use wallet that you owned the private key.
Ethereum also is good for investment because it is the 2nd in the volume marketcap.

If i were you, i will just go with bitcoin because it has more potential in the long run compare to ethereum that having a hard time in their security because of the different virtual criminals like hackers and so on. that keeps damaging its images that is related of the trust of the investors. If you want a safe cryptocurrency with a very low rate of getting hacked then go to bitcoin.

Will this happen how BTC will go down very deeply. Hardfork seems to be just an issue, and it freaks everyone out. They managed to make a mess. Politics is always not good.

Those problem occuring will be surely fixed by its own dev and it is not the eth networks problem why they had been hack since the one who's gonna blame for this are the parity wallet owner and the verisatium ICO devs, and this should be the biggest lesson for those upcoming devs who wanna use ETH so that they can counter act and do perfect test on their security so that they will not be hack just like what happen to those two issue's today.

I have not understood about what bitcoin or ETH because maih di say Newbie still lay.

Need special deepening to be able to understand about matters related to it.

For my own investment I have not dared. >:( ::)

It is the best time to buy by bitcoin or ETH because the prices of bitcoins now a days are at lowest and the prices will rise again at the normal speed which we experienced during the last month. So it is the best time to invest in BTC or ETH. Just follow the market and make good investment.

No, the price will volatile strongly before the hardfork and I believe that 30 of July will be the best time to buy bitcoin because I can ensure that bitcoin will be lower than $2200. Nobody want to hold both kinds of bitcoin because it will make the value of bitcoin decrease

Investing in BTC would not be wise before 31st July actually, just wait and see how the market reacts and then invest on the last date of this month as it will recover hard in August. If you want to invest in ETH, it's a good choice as many bitcoiners are shifting to ETH due to its speed and smart contracts specialties and it will gain much value in the future. Even purchasing it atm and keeping until Bitcoin rises against USD is a great option.

User agreement and soft fork will cope with this current issues with bitcoin, don't worry about it. The worst things is that we will lose some time while waiting the bitcoin get fixed, the rest will be promising.

If you're looking to start with 3-4 BTC, you do have the resources for mining. You could setup a GPU mining rig for under 2 BTC to mine ethereum and alts although I wouldn't recommend it given the current profitability.

Good luck with your investment.  You can always split your purchase into smaller amounts to hedge yourself with the outcome of August 1st.

That's totally right mate!, take all the chance for you to buy bitcoin/altcoin during this period of time. Because in the end you won't regret it dude. Especially, those two had their own projection by the bitcoin/altcoin experts that they will both gonna go up this year up to next year
2018.

I suggest to buy bitcoin, because there's a huge possibility to raised up their price into $4000-$5000 before end of this year. So this is the right time to buy more stocks of bitcoin and keep it into wallet.
Moreover, the potential of bitcoin as crytocurrencies was limitless. Some altcoins wants to achieve the position of bitcoin but no one can steal it.

1. I really hoped you made a purchase before August 1. If yes, then you just boarded the right train.

2. Yes but I would recommend trezor bitcoin wallet to keep it really safe.

3. ETH is a good investment yes.

For you would ask me i would start a bit smaller so i will invest in ETH and just wait then sell then if i want i will buy BTC from the profit from the ETH. :)