Yup, fully agree, I think the altcoin markets are over saturated, and many of them turn out bad too, and end up with a few satoshis per coin. Instead of creating a new coin, why not choose a coin out of hundreds of them that is suitable for your project.

It would require less work, give you and your investors more convenience if they were to buy a more popular coin than to get a new coin. Although if you create a new coin, it would be yours, but I think projects should be about innovation and using the current technologies we have today to make even better projects.

If you are new to altcoins, even if you have read alot, just stick to a few coins that are more popular and trusted by the community at first. Such coins can be Ethereum, DogeCoin, LiteCoin... I personally find it hard to keep track of multiple portfolios at once, so I stick to a few coins that I like myself.

Start small first, then when you are more familiar with this game then go ahead and diversify your portfolio. Asking on this forum for what coins to buy will give you biased answers, but you can think through them and decide the final call for yourself. It's your coins after all, wish you luck in trading/investing!

✓ Switch all my coins to a desktop wallet (used to be from online wallet)
✓ Buy more Bitcoins
✓ Save aside some cash to buy Bitcoins if everything goes well or if price drops down like crazy
✓ Holding it
✓ Not panic and sleep through it

I am mainly holding it, I will just see how it goes, and decide my next move. I don't want to mass sell/buy Bitcoins and risk having the price not go my way, so I will remain neutral and monitor from afar for now.

How can we be rich if we don't sell?  At some point, we would sell. It just depends when you feel comfortable to. You can say that people who sell early are impatient, dumb, foresightless, but you can also see them as being less greedy, and they know how much profits are enough.

Those people who sell early may just want quick profits, yes. We don't know the future of Bitcoin, and even though we know its supply is limited and demand will increase, we still won't know what may happen to Bitcoin. The only thing we know is the price now, and how much profit we gain from selling it now. Less uncertainty if you sell now than to wait even longer.

Some users of Bitcoins are not long term holders also. However, I am with you; I am holding tightly to all my coins now, only in (strictly), no out. People take advantage of Bitcoin's volatility to gain quick profits, and we have no way to stop them from doing so. They are the ones who are limiting the potential of Bitcoin, right? But they are the ones who gets the most profits, while the rest of us just sit here like a sitting duck, so why not join them and go for short term profits instead?

Even if I want to hold BTC and wait for the price to rise, there will be people who sell it upon a slight increase, slowing down the growth of Bitcoin. What choice do we have? Introduce more buyers only for the price to go up and people to sell again?

/rant

same.

The more people buy Bitcoin, the higher the price. Since Bitcoin has a limited supply, if the demand increases, we would have to 'fight' (with our cash ) for our share of BTC.



Exchange sites are like individual markets. There might be people selling at a lower price at Market A, and people buying at a higher price at Market B. But a trader who visits these two markets can instead buy from Market A, and sell high at Market B to earn profits. A simple analogy.

The users determine the price of Bitcoin, Bitcoin is governed by all of us. ^_^

Yeah, if you are using USD, the prices in your country still remain the same, so normal citizens would still use USD, but maybe for Bitcoin users, they may buy, but I am not so sure to what extent this impacts the price of Bitcoin. Only a huge drop would lead to such rally, I suppose.

Furthermore, trading/buying from USD to BTC costs fees which is otherwise not worth if the change in price is small.

Yup, totally true. The only dark side to mining is that you may risk spoiling your hardware (i.e. Overheating, or mining using laptop ). Also,if your country's electricity bill is relatively high, your rewards from mining may not be enough to cover the bill.

Thats how Bitcoin works. It rewards users (or machines) with Bitcoin for their computational power to verify transactions and to discover new blocks. The higher the price of Bitcoin, the higher the miner fees, and miners would get even more rewards, in additional to the 25 BTC per block found.

I am not so sure about how profitable mining is right now, but if you do not have a specialized BTC miner like ASICs, then do not try and mine with your regular computer and laptop, you might explode them. (the dark side)

Ok, it would be a bit confusing to understand this, check the example here, it may help you.

Example:

Your income: $60,000

Sold house for lower price : $5000 - $2000 (Carried over to next year)
(Capital loss)                     =$3000 (The annual deduction limit that IRS was referring to)

Other losses : $5000
(Non Capital loss)

Gross Income: $52,000

---

NEXT YEAR:

Income: $60,000

From last year: $2000 (You have to pay this year)

.
.
Hope this helps now.

Wow it would be difficult, but I will try my best to craft up a cartoony version of the wizard. I will get back to you via PM when I come up with a draft/completed avatar! (Don't expected a really detailed version of him though )

Alright, after a week, I made two more avatars, more proud of the second avatar myself, and still experimenting with color schemes. Will be working on some digital art instead now.


Bitsplosion 120 x 80 Ready for Use


Present 80 x 80

More to come, stay tuned!

What is your site about? If your alexa rank is good (under 200000), then you can try mellowads as it pays out pretty decent sums, and cointraffic.io is a popular option among users too and it also gives a high payout to publishers, you just have to reach the minimum amount for cashout.

A-ads is also good, just that you might not get as much. However you can track your earnings easily and you most likely can earn every hour if your traffic is good.

Over here you can find a good list of advertising networks paying through BTC
http://bitcoins4free.altervista.org/overview-of-bitcoin-advertising-networks/

It may happen, but it most likely wouldn't be a person to invest in a large amount, it may be a company who decides to use Bitcoins. If Ebay, Amazon (have bitcoin-amazon card feature but not direct), PayPal or even Google decides to push Bitcoin and use it as a payment option, that itself it a good enough 'investment' and it may encourage more users to buy it.

This will give Bitcoin more recognition and more uses, which would bring the price up, so you are right, there is a possibility, but we would never know what is happening right now, right?

I have experienced this many times already, in fact almost all coins which I invested dropped when i started out. What coins are you buying? It would be helpful to know what coins you have to see their volume and potential. If the coins have low in price and volume, then the price may not rise up again, ever.

Just wait. If you have extra coins and the altcoin you are buying is relatively popular, you can even buy more to minimize your losses when the price rises back. Use the STOP LIMIT feature if there is one on your trading site, to sell a portion of your coins once it reaches a threshold so you may recover some of your losses, especially if you are not online and the prices increase.

Stick to only one or two altcoins first, then when you are doing well, expand your portfolio on other coins and keep track of their development and news of that coin.

Wish you luck, and I hope that the price will recover soon.

Stocks, real estates, can be manipulated more easily by people or the government. For example if you buy stocks of Apple/Google, the prices will be directly related to how well the company is doing, or if you buy houses, the prices may drop/rise if the government decides to build another apartment next to it.

But for Bitcoin, since it is decentralized, the users are 'governing' the price of Bitcoin in a way, so it becomes a much more simpler supply and demand investment. It is digital and limited too, so Bitcoin is very different from other means of investments.

Well if you are investing into altcoins instead then sure, go ahead. Bitcoin is also an investment, so why not hold on to some Bitcoin too? Just remember not to store them in an online wallet especially before all the fireworks.

If you are unsure, just buy less, only risk what you can afford to lose...

I have also recently switched to the option of paying lower fees and the transaction usually confirms in a few hours. I don't mind it at all, since I am the one using them, for example sending BTC to a trading site. Before that, I was using CoinBase which have fixed fees (the fees changes over time, just that you cannot set the fees), so it was quite bad a few months back then.


CoinBase.


Right now it is at $2 USD, but one month ago it was at $2.5 - $3 USD with 0.001 BTC and above for transaction fees, not even kidding.

Not sure if I understood it correctly. It just means you only pay less this year, but you have to pay again next year. For example you have a capital loss of $4000, and so you pay $1000 instead, but you would have to pay that $3000 again next year. (they probably wouldnt give everyone a free $3000 deduction every year )

Check this site that explains this also, may help you to understand.
http://loopholelewy.com/loopholelewy/13-capital-gains-losses/capital-gains-losses-03-capital-losses-ordinary-losses.htm

I really do support off chain transactions and I think that is the way to go for Bitcoin micro transactions. It is basically a transfer of bits between accounts and the transactions no need to be confirmed by miners in the blockchain, hence no fees required. An old example of such a service would be ChangeTip where you can donate satoshis to people for free. CoinBase still allows free transfers between accounts, which is a good thing.

I hope that a mobile app with this service can be made, and we can use Bitcoin as a currency for our daily transactions in the future.

Read more here: https://en.bitcoin.it/wiki/Off-Chain_Transactions

You should still buy Bitcoin regardless of the price now, as I believe it has a lot of potential for growth in the future. Not everyone now knows about Bitcoin, so go ahead and buy before they do.

If you are still unsure, you can buy a little by little too, or sell when the price reaches its peak. As for me, I am still getting Bitcoins and holding onto them.

Thanks for the fast reply, I am in the West side of SG, and I just want to get to know your services better before using it as your services seem relatively new. It seems like the pictures on your site and FB page are all virtual and digital, so I would appreciate it if you can provide some pictures. I am fine with a private message here with the image attached.