Bitcoin Forum

What is Bitcoin?
Bitcoin was launched as a private initiative in 2009. Unlike traditional currencies, such as the Euro, Sterling and Dollar, it is not controlled by a central monetary authority. Instead, it is underpinned by a peer-to-peer network of its users' computers. This is similar to how Skype, a video chat service, operates.

The basic unit of value is the bitcoin. However each bitcoin can be subdivided into satoshies. One satoshi is equal to one hundred millionth of a bitcoin (ie, a bitcoin divided to eight decimal places).

Bitcoins and satoshies can be transferred from one internet user to another in order to pay for goods or services at virtually zero cost. This allows you to make international transfers without having to mess around with exchange rates and onerous bank charges. Bitcoins can be bought and sold for traditional cash at special exchanges

Getting Started with Bitcoin

Despite the hype about how difficult and dangerous it can be, getting bitcoins is a lot easier and safer than you might think. In a lot of ways, it is probably easier than opening an account at a traditional bank. And, given what has been happening in the banking system, it is probably safer too.

Before getting started, you will need to get yourself a wallet. You can do this easily enough by registering with one of the exchanges which will host wallet for you. And, although I think you are going to want to have one or more exchange wallets eventually, you should start with one on your own computer both to get a better feel for bitcoin and because the exchanges are still experimental themselves. When we get to that stage of the discussion, I will be advising that you get in the habit of moving your money and coins off the exchanges or diversifying across exchanges to keep your money safe.


With bitcoin predicted to reach the $10k mark sooner than imagined, A good advise for my enemy would be to invest into it for pure profits. The world is digitally changing and I urge you to flow along with it 8) 8)

Great Obot

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I think Bitcoin will drop for a small correction before it continues its up trend. It's too high as price to buy bitcoin. I want to buy more bitcoins but I was told that correction is on the way. Anyone of you have better idea ?

No! If you asked me I would tell you that now isn't a right time to invest. The bullish run has been on for a long time and it is only expected that a dip should occur to make for correction. Nobody should buy now. Wait awhile for that correction before investing.

Yeah you are right, a small correction is indeed needed for Bitcoin to continue its uptrend. But before that Bitcoin is gonna hit $10000 mark sooner than expected.

This is what I was told when it was $3k. Same thing when it was $6k. Same thing when it hit $7k. I think anytime is the right time for a long term investor

How long are we going to wait for the correction? What if, just what if it never backs down?

With the trend and present circumstances, if you think bitcoin is going to readjust or correct or move steps down or whatever else you believe, you've got a mother think coming. My advise for anyone with money for investment is that this is the right time to invest. In fact, every time is the right time to invest in bitcoin because it has barely reached half its potential. If you must invest, do it now.

It will become stable for short term. People are giving the more and more support to the bitcoin. i think that the people try to take a rest. this time bitcoin price looks very stable rather than another coin. I've been thinking about another pump will come to reach 10k as the target of the bitcoin in this year. Correction will come after the bitcoin reach the milestones or it won't.

Almost everyone here is figuring that bitcoin is only going
one way and that is UP.

As others have posted here the price is on an upward
trend at the moment so maybe wait for a little correction
but if I were you now I would be looking to get in fairly
quickly.

I really think anytime is a good time to get in as there was
talk of how bitcoin might reach $10,000 be the end of the
year  ???, well we are almost there before December  ;D

I still hold Bitcoin until December, many say Bicoin will reach $ 10,000.
We'll see, I keep monitoring until 2018 that possibility will happen. and next year there will be some HF this cause bitcoin keeps going up ..

If you see the price over 50 thousand dollars in a few months or years from now you would really regret if you were not able to invest when it was below 10 thousand dollars.
And the same happened when it was below $1000, everybody was saying, how i could be so dumb to do not invest when it was on the $200 - $300 range? I am so stupid..

Even i said it too, because i was so frustrated because i could not buy bitcoin on those rates, but i am here now, and i am still buying as many bitcoins as i can, because i really trust in the system, and maybe this is a huge bubble, but we all know that we can still make money from it.