Bitcoin Forum

Hello,

Alright , once I did about 0.8 BTC but ended up using them all . which I decided to not do anymore (let me know if it's the wise thing to do right now or not ) .
Now I have about 1.2 BTC (https://blockchain.info/address/12AYZG9Qk7XssfLLWcf6KV3u9XVLgBNkuL) which are full profit (Signature compaigns , Digital goods selling ,etc ...) because I never buy Bitcoin and only earn them . (two months btw) , Still not sure what I should do with them , should I keep holding them since the price seems like rising lately and keep making more Bitcoins ? Note I'am 18 years old and I have nothing to lose if I hold them , I don't pay any bills , food or anything .

Simply drop your suggestions below and no trolling please . Open discussion ;)

~ Madness

You are 18 year old have an girlfriend ? Spend some money on her .
Or as i do i bought gaming pc And enjoy gaming .

I don't have one no , never had one and I will never have one . It has something to do with my religion just to clarify (I hope racist comments don't start)
Thanks for the suggestion tho , anything else you think I should do ? Only game I like is CS:GO and I can play it just fine on my PC ;D

~ Madness

Hey, I'm somewhat like you. I dont need to pay for anything, bills, food etc.. However, I been using Bitcoin for two years. I only started to earn Bitcoin from this forums last year around August. I manage to earn 90% more than what I earn from faucets for the past one and the half year. Well.. enough of my story. I would suggest you to make a site and earn more from ad revenue. Hostgator and Namecheap have a super cheap hosting plan - you should check them out, Namecheap accept Bitcoin.

Why not try to day trading and earn more too?

Yeah I was planning to make a website (WordPress blog) once I finish school and have more time so I can manage it very well , not sure how much I can make per day , depends on the traffic I believe .
For the day trading , I never tried it to be honest and I don't know how much profitable could this be , beside I don't like how exchangers works exactly (their way on asking us for ID's and passports and some real informations defeats the whole purpose of Bitcoin if you ask me )

~ Madness

i say keep your bitcoin as long as you can and don't need it. i think the price is going up in a couple of months. besides you can always spend $$ to buy stuff.
and IF you are good at trading you can do that to increase your BTC, and not let it just sit around in your wallet

I'am not that good to be honest , most of the time I use forums like Bitcointalk with a "Currency Exchange" sub forums to trade my Bitcoins to Paypal with like +15% rates which can be profitable I guess .
I do not really trust Exchangers of those days since they need ID and Reallife informations as I stated above . something Decentralized would be good I guess . Some people will suggest me Localbitcoins for sure ... well my country do not use Bitcoin so I have no hope to use that too

~ Madness

Strange.. dont mind me asking where do you live?

Yes , I live in Algeria (which is on North Africa) , don't see us as a poor country because you heard Africa ... We are probably the richest country , we have oil & we have gas but they simply don't give a shit about those Electronic & Digital money (including MasterCards , Visa , Paypal , Skrill .. whatever) or Online shopping (Amazon etc ... )  . Retarded country Unfortuntly .

~ Madness

Wow.. this is good for you. Since no one is using Bitcoin there.. I mean.. You can sell high to people in North Africa if suddenly they are interested in Bitcoin. Why dont you buy a cheap miner from Amazon then? Dont worry, Amazon will keep your information to themselves. Or maybe Cloud mining?

Just hold and never invest it in some scam site.

Yeah you got a point and ... Well Cloud Mining isn't that profitable , is it ? Most of companies associated with Amazon don't ship to Algeria , not sure about the Miners gears companies tho , I most of the time buy from eBay or Aliexpress (Chinese website) . and not even sure if a cheap miner could get me some money ? profitable or not too . (not sure how much $ per kWatt )

~ Madness

Scamming is the last of my worries . thanks for the suggestion tho
I never got scammed and I never scammed and Planning to keep it that way . all the one need to not get scammed is having a brain ;D

~ Madness

I would strong advise against mining hardware and specially cloud mining. so unless the bitcoin price is going to rise really dramatically in the next 6-12 months I would use bitcoin for mining.

But, If you see the bitcoin is on the rise, slowly and steady, you may consider putting, over time, small amounts at cloud mining (not all in one investment..), just make sure it is a long time contract (lifetime maybe) so if the btc is going up you should be getting profits and your contract doesn't end.

Okey , got a question which I was always thinking about . don't call me Dumb please

If those Cloud Mining website accepts Bitcoin as payment only , it wouldn't make a lot of sense , would it ?
Let's say I paid 0.1 (30$ when I paid) BTC and I earned 0.08 BTC (50$ at the time I mine) . It still dosent make any sense if I mined , because I will earn the same amount , yes the USD price rised but it's the same/less amount of Bitcoin , so couldn't I simply hold the Bitcoins instead of Cloud mining ? :o

~ Madness

Try setting up a website using your btc, simple but effective and try to earn on ads or if possible gambling/casino type? Start your own faucet. Or just go as you are and earn up to 2 btc with sig and services then 3, 4 etc.. always surpass the one you were yesterday :)

Buy some adspace and earn using referal systems for sites you trust.

Gambling is against my religion too , so I won't do that either .
Faucets could be a good idea , as I said above I'am planning to make a WordPress blog , also Making Crowfunding thread so people donate to our project "WordPress Faucet plugin" so I can integrate it on my blog , we got 0.2 BTC for the moment .
for Signature compaigns , I'am only getting that much because I'am sort of on holidays for the moment so I don't have school , so once we start school again , I will be posting less . probably much less .

~ Madness

No, there are lifetime contracts, like with Spondoolies (http://www.spondoolies-tech.com/pages/cloud-mining) that say :
" * For lifetime contracts as long as the contract is profitable, a small maintenance fee of 0.0019$/GH/d is deducted. Please see the contract for details. "

Meaning that If you buy a 100$ contract, as long as the mining is profitable your contract will be active and you keep getting paid.  (It sounds good, but the mining industry is very competitive and should be invested carefully)

I see, thanks for the clarification , sounds really interessting .
Never heard of spondoolies tho , any companies you recommend me to use ? I know  that CEX.IO shutted up lately because of the drop price on Bitcoin so it's not so profitable for them anymore .

~ Madness

What O_O

No girlfriend is allowed?

I am sorry for you when it comes to that.. I hope you are happy without one.

As of the BTC.. I would save it since the price is slowly rising and NEVER start gambling.
I havent done it with BTC, so I have never lost..

Or you could get into the altcoin world and see if you can find a new coin and throw some money into it.

Sometimes a new coin is worth less than 100 sat in the first few hours on the exchanges, and then they jump to over 1k sats.

Think of investing 1 BTC into that! xD

Dont do mining and especially not on Genesis Mining.
It sucks.. Back when I bought hashrate in 2014, the payout suddenly decreased a lot even though the difficulty was the same and the price was stable.

So I would not do that.

Did what?


What religion forbids you from having a gf or do you mean you need to be married first? And what does your religion say about using the internet and bitcoin?  :D

I'am a Muslim , even if there is some people who have  I know that it's not allowed ;) And yeah you couldn't know how happy I'am , I don't need a girl to feel good or to feel that I worth something or whatever :o  (Marriage is something , girl friends is another thing) .

So we don't get off topic ... Speaking about Gambling , I do not gamble either . mm Idk about Altcoins , some pre-mined altcoins are getting created daily and most of them seems like a scam , and it's just a way so people earn some fast buck . was thinking on joining the Darkcoin world but idk ... how good it is . and the differennce between "Darkcoin" and "Darkwallet" for Bitcoin .

~ Madness

His religion is islam i think .and i think having gf is bad as friend its good .

Edit: gamble is haram too .

I used them for buying Digital goods or traded them for Paypal (Paypal +15% or +20% good Deal I guess) .
I'am a muslim , and yes like you said need to be married first ;)  What does it says about Bitcoin and internet ? nothing unless you use it for watching porn , or any other bad thing .
~ Madness

Darkcoin does seem strong, but its not there you should go for profits.
I might be getting back into the game of altcoins since I used to make some good money on it.
Maybe you want to join me and go in small in the start to test the waters? :)

All I know is that Spondoolies and Antminer are best companies to buy mining hardware from ( I say the best, but you still need to find out what is profitable)

Just trade in btc-e.com. They don't ask your ID. And, for withdrawal.. just using perfect money and or another payment processor.

I don't know mate , not that interessted in Alternative coins to be honest :o  I may contact you if I change my mind
Thank for the offer tho .

~ Madness

Do you want to buy a miner?

I have an S1 Antminer stuck in the US atm.
10$+ shipping and its yours! :)

No need to be interested in the long term. Its just as investments to make your pockets heavy with coins.
Aslong as it does not involve scamming ofc :)

Don't do that either, lol  :D

Keep your bitcoins, and only invest in long term projects/altcoins..

So they do both Hardware mining (shipping the gears) and Cloud Mining ? sounds interessting . I may check Spondoolies because I never heard of it . are they Chinese ? :o

~ Madness

Spondoolies is an Israeli company.

Then definitly not going to use it , Yeah I have some hard feelings to that country .
I may try Antminer after calling my Electricity providers company and see how much it cost per kWatt then we see how thing goes and how profitable is it . ty

~ Madness

I am from Israel..  ::)

Woops .
I have nothing against you tho , so don't take it personally please :o

~ Madness

I will stop quoting now since the quotes are getting out of control  :D

Not taking anything personally, you didn't accuse me of anything  :)   I am also not so pleased with this country, too many idiots and assholes.

For me , I'm spending some bitcoin on fun needs ( like buying COC gems)
I'm also spend some on buying smartphone and watch cinema alone ( still single till now  8) )
and for the rest , I will keep it up until bitcoin reach $ 1000 or more ( I hope so )

I'm ever spend it on trading and gambling but all end with loss .... :(

??

Make sure you don't lose that btc. Work hard to build out your stash. Avoid online wallets unless it is small amounts to spend. Good luck.

Sounds cool , for Clash of clans gems , there is any website to buy them directly using Bitcoins ?
or you simply buy iTunes/Google Play Gift card using Bitcoin from Gyft then redeem it and buy the gems ?

~ Madness

Your plugin sounds nice! Setting up a faucet provider and coinbuffer site like faucetbox or microwallet might be a nice way to earn too!

Investing in an exchange and shift btc to alts and back could get you profit too, buy high sell low and see your btc grow. Might be the other way arround, but that is why I am not a good daytrader :P

I'm also looking any website that can accept bitcoin for purchasing COC's gems

For now , I'm buying gems using CC

I suggest that you make a super secure paper wallet, seal it, load it with exactly 1 BTC. Promise your self never to sell in 10 years (no matter what).
Keep the remaining 0.27439918 in your hot wallet so you have some funds to play around with.

THanks for the support mate , give that thread a bump if you feel like :p
for Alts , I know it could be profitable but a BOT is needed for that , like .. a smart BOT to do all those things and see when it goes UP and down etc ... otherwise I don't see how it could be profitable unless I'am near PC 24/7 .

~ Madness



Yeah I gues sit's impossible tho :o since Gems cannot be transfered , so only possible thing is to buy from Google or iTunes .

~ Madness

I remember I was very excited when I had 1 whole BTC, the anticipation up to it was gratifying. Congrats to you!  8)

1 bitcoin is not a lot these days. If you spend it on something nice, you'll end up with fraction of a bitcoin again. If you want to make this 1 bitcoin special, make a paper wallet and write "My First Bitcoin" on it. Make yourself not want to spend it.

I was planning to do that , but believe or not .
I'am afraid that I will screw up and eventually not find my BItcoins on the paper wallet (yes paranoind little bit ... or a lot :o )

~ Madness

Haha.. Dont you have a safe or something like that you can keep it in?
Or a bank box to have it in with other valuable items.

[joking]
Register an account on Bittrex and/or Poloniex and get involved in pump and dumps. Shortly you can restart your quest for putting together you first 1 BTC again. Guaranted renewable thrill :).
[/joking]

You can make yourself a vanity address (https://bitcointalk.org/index.php?topic=25804.0) and print the keys with their QR codes ( OFFLINE of course) and also make a copy to a small disk on key only for bitcoin purposes.  

I'am using an Offline wallet at the moment , I guess it's the safest thing I can think of .
you mean Bank deposit boxes or whatever their names is ? not sure if we have that here , I made 18 years old last January (18 is needed to make a bank account) .. and too lazy to go and open bank account :o also I have to look for a Bank that dosen't give me interest when I deposit because interest is against my religion too ;D

~ Madness


Going to try that , thanks for the useful link dude

~ Madness

forgot a link to a qr code generator - http://free-qr-creator.en.softonic.com  

Seriously?
What are you allowed to do?

Then there must be banks that follow islam like you do and will be able to help you.

Why is a bank that gives intrest not allowed?
Its not gambling, stealing or anything else illegal.

two months to get that much you smart enough to look for a free bitcoin :)
I have already so long playing bitcoin, not like you :)

let me know if you have a good land for looking freebitcoin :D

@Hamuki It's deeper & more complicated then you think , don't have the needed english knowledge to really explain it how it should be , you should search for it to know more ;D
Yeah , just found one Islamic Bank , I may go for it .

~ Madness

The answer is in your side advertising... It says everything...
As you have stated that you have earned them and it took two months, just think how hard it was earning them...

So, according to me, you should just save it to yourself until the price of BTC goes to a million, yes I mean it, a million...
Some will say that it's a troll, but many big boys have said that and I think as this one's your first one, you should definitely save it to yourself, that too not in your online wallet but send them to a paper wallet and put them somewhere in a safe place, as having them in wallet will just remind you to either spend 'em all or invest/gamble 'em all somewhere to increase them... ;)

Do something irresponsible, like gamble it on one of the bitcoin casinos :D

OKay...

Well..

I am going to start later today and look for a new investment.
Want me to PM you if I find something?

I do under 0.10 BTC investments too see if the coin is worth investing it.. And if it is..  I get even more into it :P

If you read above then you can see that he is muslim and does not gamble or has any intention of using his money inresposible.

I know plenty of 'muslims' that drink alcohol and gamble. Everyone has their different ideologies of how to interpret their religion.
I say get your GAMBLE on! :D

Well, he is more serious about his beliefs and you have to respect that.
I dont believe in religion, but I still respect the people who do..
Aslong as it does not annoy me or hurt me or people I know.

There is a website called cryptothrift I guess where you can sell your bitcoins or you can try buying gift cards or games using your bitcoins either on this forum or via other online websites which accept bitcoin payment.

now it's time to run atraz of the second Bitcoin.

I do not know where I read here in the forum to a atraz time, saying the difficult is to get its first Bitcoin, from then on everything is easier.

You have said it yourself. Absolutely nothing to lose if you continue to hang on to it and bet on bitcoin's future that somehow one day the value will be worth much more than what it is today. For me, even if I'm desperate for money, selling my bitcoin would only be my last option in mind. I would say, continue to hold.

If you ask me , Just keep it , keep it for more future trades(digital ) , let it grow , spending it at an underpriced value isn't good .
If you need something , buy it , if you don't - keep collecting :)

the only way is to invest, to increase that little bitcoin, maybe some altcoin that is still new, or run a gamble site your self, with a sign campaign(dunno if one btc is enough for that)

you should look to create a small business

Easiest question in the world....go for your second Bitcoin!   8)

No seriously, accumulate more, spend a little, buy a little, accumulate more...rinse repeat.

What good is hoarding, if you can spend it like it's intended purpose?

Here are ways to spend it:

https://purse.io/

https://brawker.com/

http://www.gyft.com/

http://www.overstock.com/

http://www.dell.com/

http://www.microsoftstore.com/

http://www.newegg.com/

Always replenish what you spend though.  This is the way to push the Bitcoin ecosystem forward.  Spending and replenishing.

Sorry because I wasen't answering to your suggestions guys , it's because I got banned for a while and now I'am back .
Thanks for all your suggestions .

@ChuckBuck , Most of those companies don't ship where I live (Algeria) so It's little bit hard to buy anything from them . for Gift cards ... I can find them cheaper then their original price , I found 10$ for 10$ gift card is a little bit expensive ;D

@Amph , Got the idea to involve my self on Alternative coins , but really and till now can't find something that I will make profit with , certainly not without automatic BOTS or such things . and for making a Gambling website pretty sure It require more then 1 BTC to start unless I was willing to scam people then that's another story also even if I was rich , I wouldn't open Gambling website because as I said it's against my religion :) thanks for your su ggestion tho

@Alexis , Well I guess im just not like them ;D


~ Madness

Okay look - If I were in your shoes, I would ask myself - 'what could bitcoin be used for, here, in Algeria, that provides a safer advantage than cash?'

Off the bat, it works great for prepaid deliverables - if you setup a membership based system where a Bitcoin address is associated with a user-id then it provides a HIGHLY convenient mechanism to verify payments and receive funds. 

Also, you ask, what now? What do you want?  Do you want to spend it or do you want to simply earn more?  If you're looking to reward yourself, then do what the other hero member here had said - save away a good chunk of it (just in case a black swan event happens and BTC does reach a much larger number than 1200 dollars).

I would take a much smaller chunk of your earned BTC and would probably try out trading LTC as well - Don't try anything fancy, just set a plan into action and trade on the rallies to make more money.  (I want to earn 5%+ profit on ALL trades this year) 

OR go a completely different route:  Spend the next 3 months on Codeacemy and stackoverflow.  Learn HTML, then CSS, then Javascript.  Now move onward and try to tackle MEAN Stack framework  (MongoDB EmberJS AngularJS NodeJS)

NOW - make some REAL BTC (as in command .2 BTC per hour from clients/employers for your professional-grade web-engineering expertise).


About the blog - If monetized properly, I've read that Google Adsense can pay between 12-30 dollars roughly for every 500 daily visitors (though this was a projection based on averages and may differ for you)


(This is probably a grimy/cutthroat example and should probably be avoided as you could be targeted if things go bad, though its not necessarily illegal in any way  - hire on 5+ of your buddies - set them up with Amazon Mechanical Turk Accounts [THAT YOU CONTROL]. Use Purse.io to convert the earnings directly into Bitcoin - there is a 8-20% hit on that, but by doing this you will have a loophole to convert MTURK into BTC.  Pay your friends 70% of what they earned and hold onto the remaining 10+% as profit. In order for this to work best, you need to also have friends who want to make spare money, who have a good 4-6 hours per day to work, who can be trusted to do reasonably good work on their own - if they do a shitty job, it causes YOUR reputation to be harmed)

You should travel outside of Algeria. Meet new people, guys and girls with different beliefs than yours.

Not really on topic, but since you're 18 and I see that you mentioned you wanted to start a wordpress blog and stuff for some additional income, maybe this guy will interest you: http://onlineincometycoon.com/about/

After you get income, put it all in bitcoin! :D Screw those who say "don't invest more than you can lose". At 18, you can lose it all and it won't have a bit affect on the rest of your life. But if bitcoin really takes off, the benefits really will affect your life.

Cloud mining is RIPOFF don't fall for it!!
Also if i wouldn't know what to do with my coins and would have everything for free then i'd buy some weed and acid ;D

Hey Madness,

About you get one of these and and see if you can use it in your everyday stores:

https://in.xapo.com/campaign/debit/

https://xapo.com/

Pretty sure you shouldn't have trouble using a Bitcoin debit card in Algeria.

Chuck

Don't use it. It's as stupid as using gold to pay for useless shit. To buy useless shit use useless fiat, not something that has the potential to x100 in the next decade. Like it or not Bitcoin is mainly a store of value, in the future maybe it will get used more.

Thanks for your reply . Well to be honest they are totally useless also in Algeria since We don't use Debit or Credit cards around here , when you are in a Shop , you just give them cash and they give you the product or whatever you bought . I know I'am suffering

Still , I may be interessted , do you have an Idea how much the price of that Debit card ? I may use it if I travel to United Kingdom soon

~ Madness

My advice would be similar to the person above :
u may hold it for long term till the price rise or try investing it for returns and go with the flow.Don't gamble with it.u may also invest in some bitcoin project.

Believe it's still in Beta so could be free for now.  If not, then looks like $15 for ordering a Xapo Debit Card:

Here's the fee structure:

http://support.xapo.com/95219-What-fees-are-associated-with-the-Xapo-Debit-Card

I can speak out of experience when I say: Just go and put them safely in cold storage! You don't want to try to mess around with them. You'll most likely only end up losing them to some scam or they get stolen from a platform.

@ChuckBuck , Thanks for your link mate going to check it out , hopefully it's for free for now ;D
@ETFbitcoin , Not a fan of games , at least not that much . Only games I need is Dota which is free and CS:GO which I already have they are a lot of fun and I don't need others , most of steam games that I own are basically for Re-selling (Buy low , sell high , profit)

@Kipsy89 , Excuse my ignorance but Cold storage means Offline wallet / Hardware wallet or something simillar ? for now they are on my Desktop wallet

~ Madness

Believe @Xapo is active right now in this forum, so you can even PM them directly to get more details to your questions.

Buy drugs if no girlfriend. I give bad advice.

@ChuckBuck , Yeah I will try to contact him , I saw his last thread about "do you trust your self to keep your private keys" and seems like he is online those days.
@chrudat , If you read the previous replies of mine you will know that drugs is the worst also against my religion ;) thanksfor the offer tho.

~ Madness

My first bitcoin is mined on my computer by 0.991, in 2012

prime dice it

@Jamacn I'am pretty sure that this has anything to do with what I posted but okey glad to know how you made your first Bitcoin .
@rememberme As I said on all my posts , I do not gamble . thanks for the suggestion tho

Anyway , thank you for all your suggestions and opinions guys , It was pretty helpful . I decided to keep those Bitcoins and try to make more and hold them till the price rise . Locking this thread now

~ Madness