Getting into the game - Need advice

[The_Gloomfrost]

What area of Canada are you in? If you're in an urban area, starting something of your own or joining an existing startup team may be a good idea if you have skills and always wanted to! Bitcoin is awesome because you don't have to worry about spending start-up money on lawyers or regulatory paperwork.

PM me if you're in Toronto and I can give you more information.

Also, not sure where you're at but in Ontario we have low-peak and high-peak prices for electricity, remember to factor that into your calculations. Also don't forget the 'delivery fee' and taxes on top of that. For me in Toronto, the rate is about $0.095/kw but after everything it comes closer to $0.20 which is annoying.

Cheers,

[hilariousandco]

How is downloading the blockchain a one-time download? It grows every day

When you first use Bitcoin-Qt, it downloads the entire blockchain from past to present. After this, you only need to update the newest blocks. So getting the blockchain on your computer requires one large download. Daily transaction updates are not the whole blockchain.

No they are much worse. They require that you keep the client running all the time on your system. It takes up resources and bandwidth that you could otherwise put to use running more important things. I want to buy and own bitcoins. What I don't want is a resource sucking app running all the time on my PC.

Simple solution: either download a wallet that doesn't download the whole blockchain like Electrum or use blockchain.info's online wallet.

[Stinky_Pete]

• I have no experience per say in economy or trading, and wasn't really interested in this before recently, because of the Bitcoin

per se

[augustocroppo]

Any suggestions, comments, recommendations you may have are welcome

Thanks

Yep, prepare yourself to be ripped off at any moment. 100% guaranteed. No money back at all.

[moriartypants]

Yep, prepare yourself to be ripped off at any moment. 100% guaranteed. No money back at all.

+1  :c

[SpongebobCoinpants]

A great way to multiply your bitcoins is to invest them into 2nd generation crypto currencies.

There are a lot of new currencies and protocols coming out now that are more technically advanced than bitcoin.

Mastercoin
Next
Counterparty
EMunie
Ethereum
Colored Coins
Zerocoin

I think diversifying between these new currencies is a great way for you to multiply your bitcoins.

[empoweoqwj]

A great way to multiply your bitcoins is to invest them into 2nd generation crypto currencies.

There are a lot of new currencies and protocols coming out now that are more technically advanced than bitcoin.

Mastercoin
Next
Counterparty
EMunie
Ethereum
Colored Coins
Zerocoin

I think diversifying between these new currencies is a great way for you to multiply your bitcoins.

But the skill is in picking the winners not the turkeys - not an easy task when there is a new altcoin born every week, and they are getting more and more complex

[Sonny]

A great way to multiply your bitcoins is to invest them into 2nd generation crypto currencies.

There are a lot of new currencies and protocols coming out now that are more technically advanced than bitcoin.

Mastercoin
Next
Counterparty
EMunie
Ethereum
Colored Coins
Zerocoin

I think diversifying between these new currencies is a great way for you to multiply your bitcoins.

But the skill is in picking the winners not the turkeys - not an easy task when there is a new altcoin born every week, and they are getting more and more complex

Good luck with that.
You could double your bitcoin or lost 50% in one day, as most of the alt-coin price movement are pump and dump.

Take a look at the all-time price movement of doge, and you will know what I mean.
http://www.coinwarz.com/exchange-charts/dogecoin-exchange-rate-chart