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The answer is simple:
1) what is your monthly income? (How much do you make after taxes?)
2) what are your monthly expenses? (Add up all of your fixed and average your variable expenses)
3) how much do you out towards savings and retirement every month?
Income - expenses - savings = excess
If you have excess left over every month, then by all means spend it in a Bitcoin, Litecoin, Dogecoin, Potcoin...whatever. But realize that it is a risky investment, and prepare for the possibility of loosing everything you invest.
As far as the $1200 is concerned, what is the interest rate? If it is high, like >%7...then use it to start paying off the principal of the loan.
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Well...from my experience, just be cautious. Having Bitcoin is like having the ring from lord of the rings...and there are all of these Gollums circling around you, hopping you do something stupid so that they can take your BTC. The key here is that you must take extra precautions: 1) Use secure passwords 2) Use two factor authentication with online wallets 3) spread around your coins so that if someone is able to steal them they don't get everything 4) Keep some in paper wallets (cold storage) 5) Stay away from eBay and Paypal (I learned my lesson the hard way, got scammed out of .05BTC) 6) Have fun, and realize that you will soon catch Bitcoin fever! It's like gold fever...except you are lusting over 01010101's insead of minerals  |
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Wait...you didn't say "a whole number" between 1-1000
I got it!
3.14159265359
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DrBitcoin
Haven't received mine yet...much thanks!
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I've been into Bitcoin for almost a year, but I didn't obtain my first coins until December 2013. At that time, I felt like every other story in the mainstream media was "Bitcoin this, and Bitcoin that!" We had the Silk Road and Dread Pirate Roberts thing bringing bad press, the huge uptick in price, and the pinnacle was when Overstock.com announced that they would be accepting Bitcoin.
Then 2014 came, and it seems like the interest has died down a bit? I am obsessed with Bitcoin, as many on tho board are, but has the media's brief focus on Bitcoin tapered off? Even my mom said "hey, did you know Overstock is accepting Bitcoin?" Bitcoin almost became a household name.
Are my assumptions correct? Or is it just my perception?
-DrB
The Hype has died down - And that is a GOOD thing! If you want to know if there is a hype, check the media. Do you hear about Bitcoin everyday? No you don't. WE do, because we are interested and we know where to look. We're information seekers. But are there Bitcoin-Magazines that we can buy? Are there daily reports about Bitcoin? No! Have any relatives or friends asked you about Bitcoin lately? Not me for sure. In my office only ONE person knows Bitcion and he's an IT-guy and STILL does not really understand Bitcoin. There are 30 people in my company. In Germany Bitcoin has vanished from the news. And that is a good thing, because that way we know that this is the perfect time go get INTO Bitcoin. We wil be there when the next hype will set in. And that is probably going to be the BIG one, guys. In all honesty - We are probably to late to become rich. We're MILLIONS now, using Bitcoin. MILLIONS dont become rich, only a few will. The times where you put a Dollar into the system and 2 years later you had 10.000 dollars are over. But we still can make some nice money. There are like 10 Billion Dollar in Bitcoin right now if i am correct. THAT IS FUCKING NOTHING. I see absolutely no reason, why Bitcoin shouldn't gain a tenfold, a hundredfold in the long term. And i am so fucking sure about it! This is not a scam, this is evolution! And it can't and won't be stoped. Cryptocurrencies are the Currency of our age. Its like the next logical step that has to happen. I don't even understand why I feel this way - and i must sound like a Madman - but it seems like the Internet has gained consciousness (boy, does that sound dramatic) and is forming a currency. (Of course the Internet has NOT gained consciousness, but its like the Internet itself has a DEMAND for something like cryptocurrency and so here it IS. Everytime we reached a certain technology-level some kick-ass innovation came along. The car - Nobody belived in the car. Electricity - Fuck no, dont want that. The telephone. Hell no, thats scary. I think that Bitcoin, or Cryptocurrency is not just some hype, not something that is here for a short time, but something that will stay and become a part of the world as we know it. Its not some branch of a tree that will eventually run out, we're riding on the main stem! So to come back to your question. No, the hype is over, but BOY the next one is going to be a big one! When Moms and Pops hop in and want to make some money. Very good points. Although I hope you are wrong about the getting rich thing. That said, pert of me wonders if Litecoin could eventually have the same monumental rise this year that Bitcoin had last year? Currently BTC and LTC prices are tied together, but could that change? I'm thinking about buying 50LTC at some point in the near future, and just holding onto them and seeing what happens. The problem is, if I wait for a dip in LTC, then there is also a dip in BTC and I have less buying power with my Bitcoins. |
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I've been into Bitcoin for almost a year, but I didn't obtain my first coins until December 2013. At that time, I felt like every other story in the mainstream media was "Bitcoin this, and Bitcoin that!" We had the Silk Road and Dread Pirate Roberts thing bringing bad press, the huge uptick in price, and the pinnacle was when Overstock.com announced that they would be accepting Bitcoin.
Then 2014 came, and it seems like the interest has died down a bit? I am obsessed with Bitcoin, as many on tho board are, but has the media's brief focus on Bitcoin tapered off? Even my mom said "hey, did you know Overstock is accepting Bitcoin?" Bitcoin almost became a household name.
Are my assumptions correct? Or is it just my perception?
-DrB
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Thanks. My (financial) philosophy in life, is don't harp on what you've lost, or bad decisions you've made...counter it by finding ways to make more.
I didn't even file with Paypal...my time is more valuable than that.
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Yes, I'm dabbling. I bought 3.8 million Fedora coin when it was at .00000048. Still waiting for it to go up so I can dump those worthless POS!
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...from ebay. I did not pay attention to all of the warning signs, and quite frankly I deserved what I got. It was literally the first time I sold a bitcoin on ebay, and I decided to test the water with .05BTC, which I sold for $69.00.
The winning bidder had 100% positives and over 300 reviews, some showing that they purchased bitcoin before. Maybe I'm a little naive, or a little too trustworthy, but they paid immediately and I immediately send the .05 bitcoin.
The next day, I found out that the account was a hijacked account, and the listing was cancelled and paypal refunded the person the money.
Anyways, I am taking it like a man, and I am not even bothering to file a claim with Paypal because I know they won't do anything. I guess I'm just a nice guy, and I learned a lesson. My wife was very skeptical, but she was happy for me that I turned .05 BTC into .08 BTC. I don't even want to tell. Her about the fraud, because all she'll do is say "told you so!"
Thankfully I only lost .05 BTC, and not more. No more selling BTC on ebay for me, it isn't worth it. If I'm going to use ebay to increase my BTC, I'll sell items for USD, and then convert the USD to Bitcoin.
Have a good day everyone!
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Would it be possible to develop some sort of Bitly-type service for Bitcoin wallet addresses? What I mean, is that as of now, a wallet address is an insanely long and random string of letters and numbers which allows for a huge combination of possibilities. But would it be possible to somehow create a third party service that allowed a user instead of saying:
Send Bitcoins to: 2Abeoc7s73fsJbk8n448j
You could say:
Send Bitcoins to: TheBitcoinWallet.Stud
Or something like that. The links could be way shorter and customizable, and evaporate after a certain period of time to allow readability and variation.
Mind you I am not a programmer or a developer, I just think this seems like a problem that needs solving if this technology is going to go more mainstream.
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eBay is starting to crackdown on selling of Bitcoins, and there won't be much profit to be made for that much longer. I'm looking to capitalize on the inflated prices people are willing to pay on ebay. That said, I am well aware of all the problems and pitfalls with deal with Paypal.
That said, there has to be an "intelligent" way to sell something in ebay, but use code words (for example) so that the buyer knows that they are getting a Bitcoin or other altcoins.
I've seen people list that they are selling "one penny, and gifting .1 Bitcoin" but this is way too obvious.
Thus is a smart community, and there will be plenty of people who will say "If I've said it once, I've said it a million times, don't transact Bitcoin with paypal." But no where else can you find that kind of markup. So as a smart community, can't we come up with a decent system for selling bitcoin in ebay to capilize on the generous markups?
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I added a $600 limit order. Maybe that is just wishful thinking?
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DDp5zAQRWncL7BP8C4U7Szp6L1AY1V5XFk
John Miller (Facebook)
cute doge...y
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DDp5zAQRWncL7BP8C4U7Szp6L1AY1V5XFk
Much excited! Much concerned that there is a catch. Much don't care...you rock!
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A litte help please! I am running Dogecoin.wallet on a Mac v1.4 which I upgraded from 1.3. I am getting the infamous 11b error message, and I have 10100 Dogecoins in limbo.
Can someone tell me how to fix this error on a mac? Thanks.
Forget it! This seems to have worked on my Mac: Fixing the "11DbException" on Mac OSX: Open your Finder Look to the menu bar, hold "Option" on your keyboard, click "Go", then "Go to Folder" In the window that opens, enter: ~/Application Support/DogeCoin Optional - If that doesn't work, try ~/Library/Application Support/DogeCoin Backup your "wallet.dat" file. This is where all your Dogecoin live. Do it carefully. Delete the following files: "blk0001.dat", blkindex.dat", and the folder "database". Restart your Dogecoin app, the error should be gone, and it will begin syncing. |
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A litte help please! I am running Dogecoin.wallet on a Mac v1.4 which I upgraded from 1.3. I am getting the infamous 11b error message, and I have 10100 Dogecoins in limbo.
Can someone tell me how to fix this error on a mac? Thanks.
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I transfered 10100 Dogecoins from Cryptsy to Dogecoin Wallet on my computer v1.4. Cryptsy said the coins transferred, but I never received them (balance = 0.00, Unconfirmed = 0.00)
Dogecoin Wallet is still syncing for 3 days, with an error message that reads:
Exception 11DbException
Db:: put: Cannot allocate memory
dogecoin in ProcessMessage()
I have no clue what this means? Why is the Dogecoin wallet app not working? Any suggestions? I kind of want to get my Dogecoin. Thanks.
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