Bitcoin Forum

Hey guys,
My brother told me yesterday he wanted to buy 1 Bitcoin, and safe it a few years.
What do you guys say about the price, when should he buy it?
Around 500 dollar is oke but what should I tell him because i dont want him to lose money.

Currently no one can give you any positive feedback about this I just want to say if your brother want to keep this for few years then its better for him long term investment can give him some good profit

Tell him to give you the $500. You buy the coin and sell it at your discretion (or give it back) and take 50% of the losses or gains.

(good time to buy, I think, but I have a lot of dumb thoughts)

Well I am sure he will do best deal of his life if he want to save it for few years.

If after those few years price will be smaller than now - that means something very terrible happen to the world...
And Bitcoins will be not a worry bout :)

Well I dont have enough money for that, he works and I dont so he has more money.
But I could tell him that I can take some of the risk if it decides to go under 100 or something.


Yeh I think we shouldn't be worried in a few years one of the only options is that the price went up.
Just because of the way bitcoin works, it gets more rare with the years so the only natural thing is that the price should go up right?

IMO. Right.

:) it is as sure as next summer :)
If I would think other way I would be crazy. Isn't? :)

Obviously no one here can tell you for sure what the price of bitcoin will be at any particular point in time.  With that said, two things:
1.  If you don't want any risk of losing the money, don't buy the bitcoin.  No one can guarantee it won't go down in value.
2.  If you're legit going to keep it for a few years, exactly when you buy it won't matter.  Think about it in 5 years say they trade for 10 grand a piece.  Or alternately, they don't trade at all because they are worthless.  Either way, are you really going to care if you paid 586.21 or 592.36 or 579.15 or whatever? 

That's true

1. He is gonna buy the bitcoin for sure, he is a risk taker so he doesnt mind the risk, he also believes bitcoin can be great in a few years.

2. Yeh you are right, ofcourse buying at the lowest point would be nice but he is gonna keep it for a few years anyway, so yeh i hope it will be a really good investment.

Buy. Find your exit point.

If you try to time your buys, you're effectively speculating. That's something that one can easily lose money at if not experienced. Randomly or blindly buying and selling guarantees you a zero expectation on average. Doing anything else will get you positive or negative expectation depending on your skill, and if your skill is below the market mean that's likely to be negative.

Yeah, not a bad Idea. I would probably wait for the next dip to buy but either way I'm guessing it will be worth it.

I wouldn't invest in Bitcoin to volatile. Maybe you should spend some time scrapping around promotion and giveaways to amass one bitcoin.

Yeah, I really don't like to give advice (and I have other people trying to get me to). My personal decision would be to buy in at the current rate, because it is almost positively going to increase (the ATH is over 2x what it is now). With all the new stuff coming out, I see no reason for it not to.