Bitcoin Forum

Hi all , just read about bitcoin lately and saw the bullrun. Am i too late to invest to mine or to buy them to keep ?  ???

I don't think you're too late to invest but it may be too expensive if you're completely new, the thing I'm doing is looking a lot at altcoins because a lot of people tend to think they're worthless so you can buy up a lot of them for cheap and hold them or take advantage of the pretty big price swings, I've actually made a bit of cash for myself this way.

Beware though, if you ever get into trading being able to read the charts and understand how everything works is a must.

I'd look into peercoin

Maybe you can try to look into alternate coins , Bitcoin is on the peak now

What do you think will be the future value of the coins? If you think they are still undervalued at $1k, then no you are no late. But if you think they are overvalued then yes you are late.
To tackle the question from the other side, I think most of us will agree its too late to be mining them unless you have access to quite some investment.

On the peak of what? If Bitcoin was indeed at its limit then altcoins would be too.
Altcoins may be the better speculation vehicle at the moment but it is up to Bitcoin to convince the world that cryptocurrencies are the future.
Why not invest a small amount in Bitcoin and see how things go?

On a side note: I would be very weary about alternative digital currencies that do not rely on a Proof of Work method.
The intentions with Peercoin are good but I am unsure if an exclusive Proof of Stake method works.
Proof of Work acts as a synchronizer for the entire system making Byzantine attacks and excessive Block creation very hard

dont bother on mining , you can try the alternate now to trade bitcoin like forex =p

Right now, bitcoin is still far from mass adoption.
It is not really too late yet. :)

I am not entirely sure if that is a good idea considering the fluctuations in btc, its still not stable.

It's not too late, although if I were you I might wait for a bit to see if the market crashes or not, I still feel that it's entirely speculators who are driving the price up so high and that once this speculation dies down the price is going to plummet back downn ~100 levels we have been seeing for a while. As for mining, the difficulty is continually going up and mining gear takes a while to get so you may not reach ROI any time soon. My suggestion would be to wait a bit and possibly invest a bit into buying some BTC.

I wouldn't say it's too late - I'd advise day trading if you know what you're doing......

Do you really believe a 90% drop in price would let BTC survive?
I believe there is potential for future larger crashes but if you expect Bitcoin to go "to the moon" a drop like that would probably kill it (maybe people would flee to an altcoin?)

Yes, BTC would survive as it did in the past already after big crashes. Many would see good oppurtunity to buy cheap coins instead. And if Bitcoin crash, other alt coins wil crash too, these alt coins are good only to speculate against Bitcoin  ;)

I believe the mistake in this assumption is to project past situations into the future. There was a lot more uncertainty with BTC in the past and less competition.
In my view the only way that Bitcoin can suffer such a price drop is if the general consensus is that there is a massive flaw, be it technical nature or through the trading systems.

People wishing for such price drops generally say so because they want to buy cheap coins and later sell them for profit.
If the value halves there will already be a lot of people seeing a potential doubling of their investment once prices recover.
The lower prices drop the more people will have to seriously doubt that bitcoin will ever reach its previous ATH again.

I am not saying that this is impossible but it is becoming less and less likely.
That and the fact that if people expect bitcoin to eventually reach an astronomic value it will have to double ever so often for it to reach that value in a finite amount of time

No, there are still ways to earn BTC but harder and more expensive ones. You can buy mining hardware or offer your services to others for BTC

Alternate coins have no value other than speculation. Even litecoin... what the hell can you buy with litecoins?
Putting aside NMC there is no need for any other alt. You can't do anything with them , just speculation , and if bitcoin price goes down so goes their price.
But bitcoin can go up again because of its actual demand , alt coins can rest forever in the garbage.

As a newbie myself, I'd say never too late to get in on Bitcoin. Bitcoin mining hardware? Maybe.  :P

Bitcoin dropped from 32 to 2 once , then again from 266 to 50 , nothing killed it and people learned not to panic.
And flee to what? Shitcoin? If bitcoin goes down no alt will survive.

yes.

It will never be too late , but getting in from the start can be tricky to choose when to get in.. the rule of trading is buy low, sell high - so it might be wise to wait for a pullback in price before getting in.

It's not so bad buying now when you already have coins, it just increases your dollar cost average price per coin... So if you bought 10 coins at $500, and 10 at $1000, your overall price paid is $750 per coin.

Another 'Stupid statement of the year".

Bitcoin is likely to reach, minimum, $300000. 100k likely sometime in 2016. These are common conservative estimates. So no, you are in fact pretty early compared to most of the world.

Get out of the newbie board, don't listen to other newbies and do a lot of reading for a few weeks.

I think for Bitcoin mining you are too late. However, I think the price will continue to rise, after a short drop some time soon to a about 500$. But, I also think that Bitcoin will fail within the next 2 years and if you start to get in now, the key is to get out soon enough. I think there are a multitude of reasons why it will fail, be it that it will continue to be a pirate-currency, or that smart bankers will get upset because they did not see the opportunity to make a lot of money and start to destroy the Bitcoin, etc. basically, they see Bitcoins as a punk attempt to outsmart *their* world, and they don't like to get beaten up by some underground punks. Some Cryptocurrency will survive sooner or later, but Bitcoin has the bad luck that it was one of the first and is the most famous.

So, get in when the price has dropped, but get out before the price drops much more. Or try to get into other cryptocurrencies, as they might stand better chances

it is never too late trust me, bitcoins is only 3 years old

Definitely not too late for the altcoin race.

are u sure 300000 ?  ::)

The hamster that installed my giraffe receptor on my new plasma duck said something about 321 235.
And I do trust that guy more

No you're not late. however you will need some investing ie. GPU and other stuff to turn a profit on mining. If your not up for it look into other crypto currencies. May not have a big worth but prices always increase! Have fun mining!

~Kaws

hi, just a quick question a lot of people are saying the other types of coins are worthless, but if it really doesnt cost much to mine them, and you do it 24/7 what do you have to lose if you just do it for a year, and hope one of the alt coins goes up?    Also, can the miners you buy, mine all the types of coins at once?

No you're not late !

The price will oscillate for a long time between 1000$ and 7000 yuans. Do the maths !

And between them, 850 € is not bothering much people because Europe is a small market if we look at the exchanges.

The best advice on investment anyone can give.
O yeah , they will always increase until you can buy one btc with 0.5 btc.

I would 've done a new thread but this is just fine for saying hello myself.
Long time lurker, first time poster here saying 'hello community'.
PS. I don't think that it's late already.

Of course , Europe is not important . Tiny crappy market.
All the coins are owned by somalese pirates.

I'm only really new around here as well. I think it might be slightly... too late to be starting with bitcoin, but as others have said, there are plenty of other alternatives to take a look at, which is what I'm doing right now!

Maybe you should try cloud mining, take a look at the link in my signature :)

And where can a newbie (such as myself) learn that?

If you have to ask that then you shouldn't try it. This is the internet, start with google and work your way out from there. All the information in the world is available for free to anyone who cares to look for it.

I dont think u are late, still is a good momento to start Bitcoin!

If you're thinking to mine Bitcoins, then no. However if you want to buy into Bitcoins then yes. Bitcoins haven't gained mass adoption yet, they have gained some popularity though. Secondly the price of Bitcoin seems to have more or less stabilized recently, the price of 1 Bitcoin has been hovering around he $1000 mark. If there was a bubble it certainly hasn't popped and won't pop for the foreseeable future. If you buy into Bitcoin now the price should increase steadily as Bitcoin gains more adoption, thus turning out a nice profit if you decide to sell your Bitcoins at a later stage.

Dont bother mining, the difficulties now are insane

Yeah, that is exactly NOT the kind of answer I was hoping for in a Newbie forum. The problem with the internet ist: there is too much information out there. And the best way for a newcomer to not waste time reading worthless "crap" is an experienced user/professional pointing to actually helpful resources. In my experience, that is the best way for a newbie to start, do his homework and due diligence and become less of a newbie over time - until the point comes (in many months or years) where he can give back to the community by helping out other newbies. And that "pointing into the right direction by a pro" was pretty much what I was after with my post. But judging by your comment, that's too much to ask for, sadly.

I am a noob and I may have missed the Bitcoin train but now im looking to alt coins to make returns and then buy into BTC and LTC for holding. Any thoughts?

I have found this thread pretty useful, not sure how well his method works but it covers a lot of the basics and mentions a few books to help newbie traders.
https://bitcointalk.org/index.php?topic=60501.0

I doubt anyone missed Bitcoin train yet, still early stages and Bitcoin have huge opportunities to expand to bigger merchants or better options to buy/sell Bitcoins

Hi guys,

Lurking for ages but first time posting, I think that Bitcoin is still in the early stages, just looking at how it has risen so sharply recently and now stabilizing, I think it will hover around $1000 for a few weeks and then it will start rising again considering a lot of people around the world are starting to recognize the currency.

I would invest now if you can.

I believe your right, I only regret I waited half year myselves before I realized how Bitcoin can be usefull

Yes I agree that is's not too late. I see a great future for bitcoin. It's just a little crowded for mining at the min and unless your looking at above 1TH/s.  In the new year there is some very powerful mining machines getting posted out to the guys with the mega money.

I have recently invested in the build of a mining machine with just x4 7990 cards and am getting very excited about finishing it and mining litecoin. Yes It will only bring in around 1.5 - 2 LTC per day but it will soon all add up and who knows how much the litecoins could be worth this time next year.

My advice would be mine litecoin or as someone else said go for PPC.

I doubt about this strategy, GPU mining is not much profitable after you pay electricity bill, or not at all with 0.30 USD/KWh

Great stuff, thanks!

I remember not to long ago 1 bitcoin was going for around $40 now its at over $1000. I wish i could of invest when the prices were low anyway i think its best if you invest in other coins, unless you are a millionaire and can purchase multiple bitcoins at the current price.

I decided to look into Nxt instead of trying to get on the already departed bitcoin train.
check it out here: https://bitcointalk.org/index.php?topic=345619

(first post)

If you like gambling, Bitcoins is a cool gamble.
If you like investing, Bitcoin could go up 1000%, but it can't go down more than 100%.

If that scares you or excites you, jump in or out, but make your decision soon.

-Mark

I am a newbie as well, well sort of, off and on. But if you're just starting out, AVOID mt gox like the plague. it may be higher payouts but for the frustration it's not worth it. I'm still trying to figure out if I'm allowed to withdraw my BTC without needing my account verified, and I wont know until they deny my verification application. Good luck, if you're looking to mine, check out asic-market.com pretty decent deals on some rigs

I canceled my Mt Gox application without confirming it. I thought they wanted way too much
personal information.

-Mark

Price per coin has nothing to do with amount of money you have. If Bitcoin goes to $2000, some altcoins might double as well while others will fail. If Bitcoin fails, all altcoins fail as well. You see, putting money in altcoins is much higher risk, with no advantages I believe

I checked out the link that you posted and the prices are good (too good?) and
the ASICMiner blades that they offer are the older version, not the current version.
There are some advantages to the old version, although in this case, it just looks
like the website is obsolete (or a scam).

Newbies beware!

-Mark

Lucky I just wish I knew after having to wait these 10 days to get denied if I would be allowed to withdraw my coins

I thought the prices were too good as well... $100 for a fury seems like a steal almost, I haven't bought anything from it but it's good to get a second opinion!  :)

Great Video:

http://www.youtube.com/watch?v=kGf-E8ShrBI (http://www.youtube.com/watch?v=kGf-E8ShrBI)

Also see:

http://bitcoindifficulty.com/ (http://bitcoindifficulty.com/)

only about 0,01% of human population has bitcoins right now.

If bitcoin becomes popular (which it should), you'll still be one of the early investors.

As long as bitcoin has not yet replaced VISA as a payment method, you're not too late to invest in bitcoin and expect a large profit.

Once bitcoin has replaced VISA, you'll probably not make a substantial profit of bitcoin anymore, but you'll still want to buy it because of the utility it brings.

So, unless bitcoin completely crash to $0 it's ALWAYS a good idea to buy, no matter the price.

Can the bitcoin network support the volume of transactions it would take to replace VISA or any other major credit card?  The Visa web site says they process 150 million transactions per day http://corporate.visa.com/about-visa/technology/transaction-processing.shtml (http://corporate.visa.com/about-visa/technology/transaction-processing.shtml).  Is there an practical upper bound on the transactions/day for the bitcoin protocol?  I imagine the block chain would get enormous very fast at that volume, but I'm still a newbie so I may be missing something.

Thanks for these resources. Been looking for info on difficulty.

Only too late if you don't have some level of support/belief that virtual currencies will see a wider(er) use in the world.  We are probably 2-5 years away from seeing a more mainstream usage of this type of value exchange. 

Well look around. How many gas stations accept them? How many major retailers accept them? How many of your friends are using them? Is your mom using them? ;) don't worry you are still early to this party.

Bitcoins still seem like a great investment but a total lack of trusted exchanges and ways to buy with credit card or banks without countless checks and delays.

Currently about 7 transactions/second is the Bitcoin limit, but will be increased later. Block chain is still very small, about 12 GB, it is nothing with today TB drives, and for normal person client version without blockchain downloads are avaiable like Electrum

Good to see people have already been working on this issue.  Here is a useful link I found for other newbies like me:  https://en.bitcoin.it/wiki/Scalability (https://en.bitcoin.it/wiki/Scalability)

hard drive space is not the problem. the problem is that with larger blocks is that it gives big advantages to miners with high speed internet connections and incents people to join larger pools. inotherwords it would cause bitcoin to become more centralized.

i think this problem will be solved also, but trying to brute force a solution with larger and larger blocks is probably not wise. there are proposals that could potentially make each transaction smaller and centralized but trustless off chain ledgers that use bitcoin for clearing could take over the load for smaller transactions.

I saw that BTC could reach 10k in 2014 or more i know its all speculation but whats your toughts on that?

https://www.gldtalk.org/devteam/tv.png


It's never too late! The altcoin bull run is just beginning! Bookmark this page: http://coinmarketcap.com


..
..

Oh, and check out my video from today! You might like it! vvvvvvvvvvvvvv ;D  ;D

That's sound advice!

If you think it's going to go up then jump in now.  If you're not willing to risk it, then just skip it.

It's all up to YOU! 

I know, not the best advice but that's kinda how it works. 

Go with your gut. Just don't risk more than you can afford to lose.  :)

Dont mine - too late
Invest - Still early!