Bitcoin Forum

Hi

As the title say, I'm late for Bitcoins, its just to expensive ($585.00) for me, so what would you suggest?

I want to buy some, and I've heard of this mBTC, I'm guessing this is a small % of Bitcoins ... 0.001 BTC

Do you think I should buy some of these? or 0.05?

For me its just an investment, for maybe 5 years?

thanks

I held off, read up and then failed to buy anything earlier in the year. If I had...

I'm in now but only very recently. Moral of the story is if you believe in BTC as a future currency which has many years of life in it then buy in at whatever investment level you can and don't overthink it.  I'm sure you know (but many dont still), just buy fractions of a BTC that fit your budget.

On the other hand if it's just because BTC is on a price peak/upward trend and you're just playing to speculate the market then hold out and wait until it hits a level that suits before buying in.

Use indeed only money you can lose. U can try to use faucets,goldentowns.com, or other free stuff to receive btc's.
If you see that you receive the btc's and believe in the ability of the coin i would suggest an investment you can lose.
Btc can crash or grow very big. A small lose vs a possibility of a big win. Its up 2 u ;-)

ok, as this is the 1st time im using this, is this the best place to get a wallet?

multibit.org

like i said, im new to this, and want to buy and keep for a long time.

thanks

Wait for price to drop, there's no reason you can't snatch up some $400 bitcoins.

Consider that the price is totally irrelevant. Concern yourself with percentages instead. If you believe that bitcoin will grow in the future, then you can buy whatever amount at whatever price. People have been saying that they came here too late since the price hit $1.

If I were you I would think about Las Vegas.  ???

In Vegas you might drop $100 to play games knowing that the odds are you will lose. With bitcoin the odds are much greater that you will see gains. Even if bitcoin drops you are very very unlikely to see it drop to zero. As long as two people are using bitcoin, then there will be a bitcoin and it will have some value.

With the recent dump, buy it now. Too many good reasons for BTC to fly from here. I was in back in 2009 when dipshits kept saying it was too high to buy at $15-$20

BTC is set to be the one world currency of the NWO. That shit going to $10k in a few years

same as the rest, I suggest simply invest as much as you can and are comfortable with loosing (maybe not comfortable but it won't break you bank)

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I think Bitcoin is just the beginning!

What we'll see next is a recognition by consumers that alternatives exist, then a demand for these alternatives, then an integration of these alternatives into the existing Bitcoin merchant POS systems. Like Visa, Mastercard, and Discover, people will use different coin payment methods via a common POS device.

Once this happens consumer demand will catapult the most competitive altcoins into the stratosphere. IMO

I was also "late", since I only started in 2012.

My best advice is to ramp up your holding, start buying small amounts on a regular basis, lets say $10 worth of BTC every week regardless of the rate (or whatever your budget allow).
In this way will you average out the fluctuation that BTC have, one week you would buy for $700, next week it might be $400, in average it do not matter. Then stick to this strategy even when the rate is high, I know that it can be painful to buy at a high rate, I remember first time i bought for a rate over $100, that was hard, but today when I look back, then $100 was a good deal. Stop buying only when your holding is where you want it to be. In this way (as a newbee), will you slowly learn the market, and even more important you will learn how to "handle" your coins, transfer, storing ect.

This is extremely important: find out how you want to store your coins, and don't put all the eggs in one basket so to say.
Have 4-5 different methods (normal qt wallet, "paper" wallets, online wallets ect), make sure that if you get compromised, then will you not lose all the coins at once.
Online wallets is by principle not a good way to store coins, but they give easy access, therefor is it a good idea to have a small amount online, similar to having some cash in your regular wallet (very few people carry their entire life saveing in your back pocket). But the bulk of you holding should be in "cold storage" (not connected to the internet in any way).

And listen to the advice about that you should be ready to lose your investment, that is the name of the game by any investors. The BTC could drop below $1 dollar again, no one knows.

Good luck sir.

not only are you not late, historically you will be classed as an early adopter. not the earliest, but still well before bitcoin goes full mainstream.

i would, however, agree that you should not invest all your money. if you are able to, buy atleast 1btc. you wont care in 10 years whether you lost $600 if bitcoin somehow fails, (which to many seems much less likely than USD failing). you will care, however, in 10 years if you are then welathy enough to travel the world and do whatever the f else you want. bitcoin is the first worldwide currency

Its gonna get stable eventually. You should wait for it since its hard to tell at wich point of the curve we are now.

If you still have faith in btc you should invest, it's all about where you think it will all go

quick question, we all know there is a max number of coins, can you est how much 1 btc could cost? and how would someone sell that for, considering it may be in the thousands (maybe)

this maybe a impossible question to answer, but please be kind, im new to this.

thanks

It could cost anywhere between $0 and $1 million. The latter isn't exactly realistic, but neither is it impossible.
But we've already been over $1000 in China.. close to it on Mt.Gox... personally I believe $10.000 to be very reasonable.. that is, if Bitcoin is successful. Otherwise it's $0. Like any risky investment, don't buy in for more than you can afford to lose.

0.1 BTC could eventually be worth $1000 or more (or less).

As for when to buy... I buy a little now and then... a little when it goes down, a little when it goes up, a little when it stays still. :P Until I have a number that I'm satisfied with. But I never sell. I do spend some though.

@OP,
my advice is never give up. keep on trying and you must surely be glad you did.
china investment and reserve is now in bitcoin and i cant see it falling anytime far or soon.
try to get 1 bitcoin and if you get from us you will at good rate and its worth investing in.
Thanks.

You may buy or sell any amount.
When you will hold coins longer, make sure your computer is clean from malware and make wallet backups

+1

@topic
In my city, barely anyone has any idea what bitcoin is. If bitcoin ever gets to mainstream, the demand would increase thousand folds. I'd say in my city about 1 in a 100,000 has an idea of bitcoin. It's just supply and demand. The market price today is actually cheap. I would buy more if I had more money. Have a long term view and don't be scared of the volatility. The network effect has begun and there's nothing stopping it. Take advantage of your knowledge about bitcoin. However, don't blame me if it suddenly crashes after you bought. It's your money and your decisions after all.

I would like to add, that you could consider diversifying your portfolio. That is almost always a valid approach to investing in anything. I would take a look at Alt coins that you can buy for pennies. There are several that I think could be the silver to bitcoins gold. If you cant afford gold, silver is usually a good investment.

But there are so many worthless alt coins, and only few with some hope. For newbie it is better not consider putting money to alt coins

You might consider mining litecoin in order to exchange for BTC... At current rates of exchange and difficulty I'm mining about .5 btc worth of litecoin a month with my 3gpu rig (1550kh/s)... assuming you have AMD graphics cards.

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It's depends on the individual and their objectives. I think for some that missed the 2010 and 2011 Bitcoin prices and want a chance to repeat that success, a few altcoins have that potential. If a person has the time to research and learn about a few of them I think it's a good idea.

My advice would be to take a look at a few and to pick one or two to support. That's how I found Goldcoin in June 2013.

Remember you can buy fractions of a bitcoin

Invest no more than you are okay losing, and have a longer term horizon

buy 0.1 btc and sit on it!

 I believe Bitcoin will eventually be more mainstream and that this is just the beginning  of its growth

Buy some for savings/investment.    You certainly don't have to buy $500.   

That said, don't just sit their and hold onto them. 

• Use them to buy things.
• Give craigslist a shot
• Give some to your family members and practice exchanging them
• Experiment!

   

Never too late to buy imo.  If you want to find local bitcoin suppliers near you visit www.bitcoinprices.info (http://www.bitcoinprices.info) there is a list on the first page of local bitcoin suppliers near you.  If you are worried about the price it may be more affordable for you to buy in on the stock market, great info also on the above site.