Bitcoin Forum

What is the safest way to double-up, if not doing gambling and other crazy shit?

Buy mining gear in bulk and resell on ebay. Target low entry gear like USB Block Erupters and PnP hardware.

Investing into various crypto currencies is a pretty safe way of earning money.

What is the safest way to turn $2,000 into $4,000 in six months?

"safe" and "double money in six month" are generally mutually exclusive.  If it was safe, everyone would do it and the return would be lower.  The fact that the potential return is high is because it has risk.

There is no safe way.

Gambling is an absolute no-no, as you already know.

Daytrading against alt coins works for some people, but you need to be constantly aware of exchange rate developments - and of course like all daytrading it can be risky and requires some base capital to work with. For people who don't really know what they're doing, daytrading is maybe the same as gambling...

Investing into someone's business idea rarely doubles your cash within 6 months. That period within a business' lifetime is normally lossy. Even after that, it's a high risk thing.

Investing into your own business (plus hard work, plus a good amount of luck) might probably work. You'd need to do something that's definitely in demand, and you've got to be good at it so you can corner a reasonable bit of the market.

Onkel Paul

Thanks for the constructive advice, Onkel Paul.

:) :) :)

I think a lot of the alt-currencies will have big upswings as people look to diversify some of their massive btc gains, I'm not sure how many of them are viable in the long term but if you look at the pull back we just had in most of them of around 30% to even 70% in some cases you could imagine they will rebound and increase massively against btc even if only for a few days or weeks.

But if you're looking to double your money just pick a few, don't put too much into them and then sell once they've doubled (if they double). You could easily see movement like that in a few days. I think some of the coins went up around 7 times more than btc in the last few days, but like I said have now crashed. Its about timing and not getting too greedy. Good luck if you go down that route.

Thanks for the advice mate, I know you mean well, but I am retired.

Doesn't change my advice.

If you want to acquire 2.5 BTC in "the safest way", then the way to do that is to earn it.

Provide value to the world in exchange for value in the form of BTC.

Thank you the advice my son. Tomorrow morning will I find some dollars to buy more BTC