This is how some of our team came in, kicking and screaming after MTGOX "killed" bitcoin....

You see the price tank, you see it isn't "dead."

You understand the technology, history and uses of this "thing" and come in kicking and screaming "this thing has value."

Then you waste some on alts and learn not to do that again.... but you never come across situations where bitcoin appears to not store value.... it has continually done that.

The government knows the rupee is worthless to Indians who have held it for 30 years. Any effort to "legitimize" bitcoin by the government will devalue the rupee even more than it is already.

Doesn't matter if they "legalize" it or "regulate" it. We've known for awhile India will need anonymous exchanges, along with the few that tried to sell bitcoin in the country legitimately. It's a corrupt system, bitcoin still stores value though.

https://www.bestbitcoinbuyers.com/best-bitcoin-exchanges-by-country/buy-bitcoin-in-india/

Bitcoin is valuable because it can not be controlled or confiscated by a government.

The fact that it can technically be confiscated isn't something that affects the average person in India, that isn't running illegal drug operations. Bitcoin affects the millions of people in India that only valued gold until now to store wealth who understand this technology.

Bitcoin is the one crypto to rule them all.

King suggests a monarchy exists, that would be kind of silly to call bitcoin "king"

https://twitter.com/rothschild_jen/status/1078816724936323072


Nobody held their money in a currency that increased 100% during the last 5, 10, 100 years.... bitcoin is the one coin to rule all currencies.

So....

Altcoins = Drones
Bitcoin = Planes

Got it.

Will wait 80 years to buy an altcoin and value it. 

Everyone on bitcointalk should know that bitcoin is the only crypto with real value. Logic and reason aren't mandatory here though.


It's 9 years old might have something to do with it. It was "valued" under $200 for the first 4 years bitcoin existed and was available around the world.

It's a new asset class.

It's a Economic Renaissance, wrapped in a technological bubble that is in itself wrapped in a "get rich quick" scheme.

That doesn't diminish the value of bitcoin over the long term.

Wrong

How will another convince everyone in bitcoin that their shiny new coin has real value? They won't. EVER.

How will a new coin somehow have a better development team, when bitcoin has the best developers in the space? 

Altcoins like Ethereum, Monero, Litecoin have people who are as good as bitcoin developers but that doesn't leave any talent for "new coins" to hire and somehow create a "better" coin.

The worst developers in crypto "try" to create valuable coins and fail. The best developers in crypto join the best crypto currency development teams that bitcoin, ethereum, litecoin, ripple, stellar have created.

Starting a new team to create a new coin requires so much capital that it would automatically lose value because questions of the teams intentions will always be asked when looking at a crypto currency. Satoshi and bitcoin don't have that problem.

The Core teams ability to keep the protocol running, secure transactions and store value is not EASY for someone else to just do it better.

It's the only crypto currency that has been adopted and used as a "currency."

There is no value in "blockchain technology" while marketers are trying to hype the masses on it because there are too many marketers trying to hype the masses on bullshit. Blockchain is a fancy word for digital ledger...that has never been new and never will be new.

There aren't as many great ideas and projects as the people invested in altcoins want people to believe.

We either support 3-4 projects in the "cryptocurrency space" (ALWAYS including Bitcoin) or we watch bitcoin's value decline over time as all the scammers walk away with people's money.

Denying bitcoin funds every altcoin would be moronic, finding the actual value in an altcoin is very hard.

This is a good rule, along with "having a goal" for why you're buying bitcoin.

Our goal is simple, pull out the same or slightly higher amount of money put into bitcoin, anywhere in the world one day.

If we can do that, price doesn't matter too much day to day.

We were surprised too, so we updated the Traits of Money

There is a thread on it here:
https://bitcointalk.org/index.php?topic=5084692.0


To value an alt, when bitcoin is still being adopted by the financial industry/governments and regulated around the world, as being a real asset, that has real value is insane.

Waiting for altcoins to show true value will take 10 years for a project. We still can't "agree" on the value of bitcoin after a decade of it storing value and transferring it without requiring 3rd parties. Altcoins may need to wait even longer to have a large enough adoption pool that undeniably proves value. The type of value that people religiously protect and hold onto regardless of "expert" opinions. THAT is where value will show in an altcoin.

Adoption - Infrastructure (exchanges, wallets, payment acceptance, historical #value, user base, security, education) = SHIT

Bitcoin = Funded all Altcoins, funded tons of other things, securely stored/transferred payments for 9 years
Altcoins = ?!?!?!

Projects like Ethereum, Monero, Stablecoins, Ripple don't have to just get adopters of these "currencies," some need to get regulators approval, show that their security is up to the task, keep their developers releasing project updates, navigate a cesspool of shitcoins that "pretend" they do anything.

There is value within some of them, the amount is less than 5% and only time will prove this.

Forcing Alts to prove actual value isn't a BAD thing for people in "crypto"

Alt value = ?!?!?!
BTC Value = funded every alt

Which are people supposed to value long term.

Which are people supposed to "wait and see" what everyone agrees the true value is, after the current "hype" dies. 

Never over value an alt, it just wastes precious bitcoin.

Looking for strategies/opinions/options people are using for the "CORRECT" time for "others" to buy bitcoin..... this means no "anytime is the right time." That is obviously not true for everyone, especially people new to bitcoin.

Buy the Dip is ESSENTIAL now, so we're recommending people:

1. learn basic technical analysis
2. find a trusted Technical Analyst
3. Plan to buy at a price and amount they don't need for 5 - 10 years
4. HODL

Our original "trading strategy" (if you can call it this) was simple:



From Jen's post on "finding the best price to buy bitcoin for beginners" (YES - it's a joke)

Now that the hedge funds are in it to play around with "shorting bitcoin" and selling their bitcoin, we have to be a little more careful at when our best opportunities to buy bitcoin are for the long haul.

What are others strategies for buying as a noob in the current "market" environment?

We can see "value" in starting with an alt-coin (cheaper and lower cost for entry) then "swapping" to bitcoin at a good time. Otherwise, shitcoins are pretty useless and lacking overall long term value.

The price is available for anyone to view...

JPMorgan was recently caught manipulating the price of Gold, which may add some confidence to that rigged market at some point.

https://www.bloomberg.com/news/articles/2018-11-20/jpmorgan-metals-probe-moves-ahead-as-u-s-seeks-to-delay-lawsuit

You disregard math and common sense to make a negative point? Good for you...

The 5, 4, 3 years of storing fiat into bitcoin had 10-1000% returns on the amount people buying bitcoin could remove later via fiat.

Some hold a new asset class like that, some will want to come back in the next dip and take profit.

Imagine if people bought with only the intention of offsetting inflation. Bitcoin could be the greatest store of value around today.

Now that hedge funds are playing around, it's just part of buying bitcoin that you need a comfortable dip to purchase and hold.

You JOIN the bitcoin ecosystem (yes its a cult) and you come in kicking and screaming like all of us did one time

You can buy it or earn it. It is "created" through mining, which makes bitcoin harder to create than many national currencies.


You have zero assets currently that can't be seized by a government....

Your property, bank accounts, stocks can be seized by 3rd parties that sue you or governments claiming you owe them something... not likely but could happen to some people.

You also can't sell and move those things easily... what if you wanted to... whats the cost and time involved in that compared to say "storing digital gold and traveling wherever you want"

You don't need to sell or use the digital gold but you CAN anywhere you want at any time.


You can't mine cheap or easy. You have to want to get into that business or have it as a hobby at best...

Bitcoin exchanges will sell your bitcoin to someone else. Heck they could sell to another exchange at a lower fee... its all "new" and tons of ways for people to move coins and money that are being sorted out.


It depends what the exchange is. We cover all of the ones that are 90% certain to not rip anyone off....we just removed Cubits though because they became insolvent.

The decentralized exchange bisq is one we like HOWEVER there is not a lot of volume currently so that either increases or it doesn't down the road.

There WILL be other decentralized exchange options down the road for sure...how popular they are is anyones guess.


The fee's are always quite high. People "invest" in different ones and place them in different places around the world... rarely have we seen attractive fee's.

Hate to sound like a spammer but we've thought the exact same thing and built a site about where to buy it in most countries around the world.

Planning to change this to a map people can click next year.
https://www.bestbitcoinbuyers.com/best-bitcoin-exchanges-by-country/

Some people have sites like this but the options worldwide can change at any time (cubits insolvency for example) and every country DOES have different options.

Currently we cover the KYC/AML exchanges, Anonymous exchanges available for every country and bitcoin meetups and groups, along with ATM options (we aren't really that fond of these -- high fee's).


Would LOVE to hear any thought on it, it is definitely a work in progress.

That is true....


It's an inflated bubble.... that is valued on a dollar that is propped up by debt....

One or the other is going down down down.

We have Ethereum network and other smart contract solutions that want to allow the entire world to invest in companies/projects one day. Is this a good investment today? Probably not. Is it the future of how companies and investors will want to transact? Most likely.

Nobody wants to pay a broker to buy stocks for them and commissions just to invest in companies that may or may not be "good buys." The manipulation of "normal" stock markets is well known, once some regulatory requirements play out over the next 10 years for investing through smart contracts, it's over. There is just no reason to overpay intermediaries when making investments. Plus you can invest globally with every country, making a larger market for everyone. The only "argument" is manipulation and that only needs to be in line with todays current markets.

In 2100 someone will probably start a new blockchain of the same bitcoin protocol.

This bitcoin2.0 would be valued at $0-1 for the first coins mined. It is the SAME protocol and security though that the existing chain uses.

People holding bitcoin for the next 40 years will have time to move onto the new bitcoin blockchain or keep their coins on the current blockchain.

There will still be miners getting fee's on the existing chain, just not as many obviously.

Holders of last resort will always take more bitcoin 

It will never get back to $100 though.... too many holders of last resort...

Had to buy bitcoin at $3700 last month, didn't think it would last. Then it went lower  

Now, it's wait and see if under $2,000 is possible or start again at the $4,000 if there's a rally....