You definitely can invest in USD/Euro. That is what people do on forex...
No, you don't invest in USD/EUR pair, you speculate. Forex trading is a zero sum game. My point is that Bitcoin does not reliably produce wealth, it is a currency, similar to speculating on forex. At some point, user numbers will reach saturation, and Bitcoin will no longer produce any returns (except maybe due to deflation). So people who bought bitcoins in 2010 and saw 1000% returns aren't allowed to say that they made a good investment? They put money in a commodity (gold 2.0) and they came out with more money through appreciation.. sounds like an investment to me. |
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I'm with OP... I'm pretty lost with this wallet stuff. I'm pretty computer savvy but this whole process seems more extensive than it should be and prone to a lot of errors. I'm afraid of just wiping out my bitcoin somehow or losing my password. That's a LOT of money down to drain! There's got to be some youtube video or something with step-by-step instructions.
And this paper wallet thing sounds risky as fuck. Basically sounds like I would have to keep track of a piece of paper for years and if I lose it my money is gone. I'm 90% sure I would not be able to keep track of a piece of paper for years to come.
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Fucking coinbase... I bought some BTC at $830 like the day before the crash and they did not cancel it...  On another note, they increased my limit and now I can buy 50!  |
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Thanks guys, that helps. 2. Make sure your descendants inherit your private keys. The coins will live on.
True, but with bitcoin it seems like the individual is completely responsible of their own money. I can see there being more and more lost bitcoins in the future because people either randomly dying or not thinking of providing any instructions to transfer their money to their inheritor. Maybe there will be ways to recover it or it might not be too much of an issue in the near future. exchanges are not one person. the price is not set by the owner of the exchange, but by the people that trade on the exchange, these people do include miners, investors, payment gateways selling off, individuals buying in.. the question most people are truly asking is why are people dumb enough to allow themselves to sell bitcoin below 1000. if no one agree's to sell below $1000, the price would not drop below $1000.
So that was my next question. If all the sellers who are setting the price decide to just gradually keep increasing the price, wouldn't that be beneficial for everyone? It will attract new buyers because they can see that they will have an obvious return on their investment because the price never goes down. Maybe i'm thinking of this the wrong way |
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Winklevoss ETF and WallStreet are the biggest bulls I can see at this point.
But there will always be a lot of surprises, both good and bad. Hopefully we'll see some good ones in 2014
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Dear Investors:
Anyone who bothered to educate themselves on Bitcoin, would know that it faces years of opposition from governments and federal banking systems. That's the *entire* reason it was created. It's going to get banned, outlawed, and fought every step of the way, because it is designed to take power away from governments and banks.
Weak hands and "get-rich-quick" investors saturate the buying and selling market right now. They frenzy buy, then panic sell. *They* are the reason the price is volatile. Not Bitcoin. Informed companies and investors continue to pour hundreds of millions into start ups and infrastructure because they know what's coming. While "day traders" and the ill-informed exhibit bipolar manic/panic behavior on the trading exchanges. These people have absolutely nothing to do with the technology and infrastructure related to Bitcoin.
This isn't a "stock" that's going down in value because "the company is tanking". The crashes are just as much speculation as the rises were. Bitcoin itself remains unchanged. Actually, its growing. The price could drop to $1.00 tomorrow and it wouldn't phase me. If it phases you, I recommend you get out while you still can.
-BittBurger-
+1 I'm down a lot of money but after all the do diligence I've done learning about bitcoin I'm not worried. If it goes down to $1 thought I may start getting worried.. so let's not go there. And also is it okay to think of this as a "get-rich-eventually" scheme? I don't expect to get rich quick but I do think there is a good chance this will survive and capture a good chunk of the world's economy. |
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Hey smart investors and forward thinkers, I hope some of you respond.
1. What determines the price of each BTC? Is it purely based on supply and demand... or is it assessed by dividing each bitcoin available with the market cap? Do the exchanges set the price automatically or do the miners set the price themselves? I'm still not clear on how this works.
2. Say in 100 years when all of us are dead, along with most of the initial bitcoin holders... will all these bitcoins be 'lost' because no one will have access to our private keys? Do you think there will be some sort of problem around this?
3. Do you think bitcoin will come into play during the next US presidential election? I'm hoping by then even more people will be aware of bitcoin and there will be more debate around it. Whoever has the best policy in favor of bitcoin will have my vote.
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facebook wont ever accept bitcoin unless there is pressure on mark zuckerberg to do it. hes not into bitcoin because the winklevoss twins bought into it early. Dont quote me but i seem to remember a comment from zuckerberg saying he wouldnt buy into something that would help inflate the winklevi's holdings. The guy has a few screws loose and thinks way too much of himself and "his great ideas".
Did he really? That's fucked up. It's weird that I'm on the side of the bad guys from "The Social Network" |
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Where art thou oh great Max Kaiser, Andreas Antonopoulos and Winkelvii twins form the movie "The Social Network" we need your reassurance that bitcoin will survive!
If you need constant assurance from other people, you should not be in bitcoin. im just kidding man, relax but I would love to hear form them right now, they are mostl vocal when bitcoins are doing well Haha, that's an amazing picture to go with it...
In the end, investing all of what you've got in Bitcoin (or in any other 1 investment), as the op did, is pretty crazy. It's not as much about diversification as it's about being somewhat safe.
Well all my friends say I'm crazy so makes sense |
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I'm down a lot right now, but I'm not that worried.
I'm thinking if I should use more of my fiat to buy more now, or after this weekend... I'm not sure if we've seen the end of the dip. And I'm also wondering if I should even put any more money in just in case I'm wrong to not be worried and this whole thing goes down the drain. Thoughts?
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Bump
CRASH #2 THIS MONTH IS HERE... and this one looks bad!!
Where art thou oh great Max Kaiser, Andreas Antonopoulos and Winkelvii twins form the movie "The Social Network" we need your reassurance that bitcoin will survive!
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its like .... watching noobs complain about noobs speculating on bitcoin....
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What are you waiting for, keep buying!  |
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This is just bad advice. Some strong hand is just going to get hurt real bad. You sell because of market trend is going down. You buy because market trend is going up.
This is just bad advice, im holding Thanks for the insight into your strategy My strategy is hold for 70 years, and let my grandchildren and great children enjoy a good life w/ financial freedom |
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Expecting another huge jump is almost too predictable. I feel like bitcoin has always been unpredictable/
I have a feeling we could see a slow year just like 2012, or even a first time negative trend the whole year (with increased FUD, bad news and more resistance form banks/govs). This could be the year that is unexpected, where more and more people lose confidence and start falling off the train, and only the true believers or delusional hopefuls continue to hold on. But once most people realize bitcoin brings financial control in the hands of individual, it will skyrocket. Most people again will miss the train again.
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This is just bad advice. Some strong hand is just going to get hurt real bad. You sell because of market trend is going down. You buy because market trend is going up.
This is just bad advice, im holding |
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Amazon coin is only for amazon, if they accept that and credit cards, why not bitcoin too? |
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This looks cool, but nothing is happening when I highlight each country. Am I supposed to wait?
But this is very useful for learning names of every country around the world. Thanks
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I just wanted to have a discussion and hear your opinions about the implications and advantages of companies like Facebook and Amazon accepting bitcoin. So my questions are:
1. If Facebook and/or Amazon start accepting bitcoin, what would be some advantages and innovations around it? (to the consumer/public, to the merchant, and to bitcoin in general)
2. What are some key companies, or what type of companies would you like to see adopt bitcoin? (I feel like companies that have a strong network and appeal to a younger audience are good for adoption, since general enthusiasts of bitcoin are younger people. Companies like Reddit, Zynga, Kickstarter come to mind)
I'm hoping for the best in 2014
thanks
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