What is your Advice for a new Bitcoiner?

[katrimans]

I'm new here.
I want to save bitcoin for my future or for my retirement. I strongly believe the next financial revolution must be based on bitcoin.
I just wanted to get your ideas and advice for a new bitcoin user to avoid any kind of issue usually a new bitcoin user faces....like
1. When to buy bitcoin
2. How long we need to hold bitcoin
3. Time wasting bitcoin earning methods
4. Best bitcoin making methods
5. Mining opportunities etc

[BAGOBO]

I'm new here.
I want to save bitcoin for my future or for my retirement. I strongly believe the next financial revolution must be based on bitcoin.
I just wanted to get your ideas and advice for a new bitcoin user to avoid any kind of issue usually a new bitcoin user faces....like
1. When to buy bitcoin
2. How long we need to hold bitcoin
3. Time wasting bitcoin earning methods
4. Best bitcoin making methods
5. Mining opportunities etc

1. When the price is cheap at some time so make sure that you watch bitcoin's price chart daily to see the trend value

2. Depend on how long do you want to hold. If you ask me, I will sell all my bitcoin if the price reach $500 / btc

3. Faucet , you can try to earn from freebitco.in or gambling faucet

4. Signature campaign or if you have some skill like coding or designing skill , you can offer your service here

5. You need big capital to buy hardware and recently I think mining is not profitable enough

[Finchy]

I'm new here.
I want to save bitcoin for my future or for my retirement. I strongly believe the next financial revolution must be based on bitcoin.
I just wanted to get your ideas and advice for a new bitcoin user to avoid any kind of issue usually a new bitcoin user faces....like
1. When to buy bitcoin
2. How long we need to hold bitcoin
3. Time wasting bitcoin earning methods
4. Best bitcoin making methods
5. Mining opportunities etc

The best advice as with any investment is don't invest more than you can afford to lose. You should buy when they are low (obviously) and you will likely need to hold bitcoin for many years to see a big return so if you haven't got patience bitcoin might not be for you. You can earn bitcoins from many places but the best might be to join a signature campaign. I wouldn't bother with mining. Not profitable for the beginner.

[DannyHamilton]

1. When to buy bitcoin

Whenever you can afford it.  The bitcoin exchange rate is highly volatile, and this is still an experimental system.  Do not store value in bitcoin that you would be devastated to lose.

2. How long we need to hold bitcoin

Until you need to spend it, or until you decide that you no longer have faith in the future of bitcoin, whichever comes first.

3. Time wasting bitcoin earning methods
4. Best bitcoin making methods

Why would you want to waste time?  Time is the most valuable thing you will ever have in your life. As for earning bitcoins, bitcoin is money so you get it the exact same way as you get any other form of money:

• Exchange your local currency for bitcoins
• Provide some product or service, and accept bitcoins in exchange
• Receive bitcoin as a gift out of the charity in someone's heart
• Scam, blackmail, extort, steal, hack, or any other illegal activity to acquire bitcoins

5. Mining opportunities etc

If you want to mine as a hobby, and are willing to lose money to do so, then you can pick up just about any ASIC at a reasonable price and start mining.  There is a mining sub-forum here at bitcointalk where you can get lots of information about how to connect and configure the equipment and keep it running optimally.

If you want to mine profitably, then you need inexpensive access to the most efficient mining equipment and you need electricity costs that are competitive with the largest mining operations in the world. There are many people who *think* they are mining profitably, but most of them are just bad at math.  They fail to take into consideration some of their costs, or some of their lost opportunities.

[notlist3d]

My biggest advice is if it sounds too good to be true chances are it is.  So if someone promises a amazing roi in X day's don't go for it as it would be too good to be true.

Same goes with buying something from the forum.   If it sounds to good to be true it likely is a scam.  Or in some cases like giftcards sadly a decent amount come from "carded" buys when they offer huge discounts from card value.   So you are essentially part of the crime.

So really use common sense with bitcoins.  And don't hold or invest anymore than your willing to loose.

[VirosaGITS]

My biggest advice is if it sounds too good to be true chances are it is.  So if someone promises a amazing roi in X day's don't go for it as it would be too good to be true.

Same goes with buying something from the forum.   If it sounds to good to be true it likely is a scam.  Or in some cases like giftcards sadly a decent amount come from "carded" buys when they offer huge discounts from card value.   So you are essentially part of the crime.

So really use common sense with bitcoins.  And don't hold or invest anymore than your willing to loose.

My Advice is "Tell us what your Electricity rate is and we'll give you a recommendation.".
Maybe op is one of those lucky person who has super dirt cheap electricity, in which case he could easily ROI smaller like higher amounts of money.

[troleybüs]

1. When to buy bitcoin

Whenever you have $ (or whatever your national currency) buy more Bitcoin.

2. How long we need to hold bitcoin

(I hope) One day nobody have to convert their coins and the whole market run by Bitcoin.

3. Time wasting bitcoin earning methods

I don't get what you are trying to say but don't waste your time to earn dust amounts of Bitcoin.

4. Best bitcoin making methods

The best thing you can do is offering a new service or if you have enough capital funds make a better existing service and compete with them.

5. Mining opportunities etc

Mining is not profitable. Do mining only if you want to learn mining basics. Don't do it for profit purposes.

[ranochigo]

I'm new here.
I want to save bitcoin for my future or for my retirement. I strongly believe the next financial revolution must be based on bitcoin.
I just wanted to get your ideas and advice for a new bitcoin user to avoid any kind of issue usually a new bitcoin user faces....like
1. When to buy bitcoin
2. How long we need to hold bitcoin
3. Time wasting bitcoin earning methods
4. Best bitcoin making methods
5. Mining opportunities etc

1) Whenever you want, there isn't a specific time and the price isn't predictable, the price may drop or rise later.
2) There is no time limit for you to hold Bitcoin, you can always spend it if you want to view it as a currency or store it safely if you view it as an long term investments.
3) Faucets.
4) Either providing a service or signature campaign. Currency exchange is likely to be impossible as newbies usually don't possess much Bitcoin.
5) Mining is likely to be a sure no ROI for most small scaled home miners unless you have free electricity. If you are planning to invest big, $50k or so, you can try to hire some people to manage the ASICs with you, it would be more profitable as manufacturers are likely to provide discounts for buying lots of machines.

[Mickeyb]

I'm new here.
I want to save bitcoin for my future or for my retirement. I strongly believe the next financial revolution must be based on bitcoin.
I just wanted to get your ideas and advice for a new bitcoin user to avoid any kind of issue usually a new bitcoin user faces....like
1. When to buy bitcoin
2. How long we need to hold bitcoin
3. Time wasting bitcoin earning methods
4. Best bitcoin making methods
5. Mining opportunities etc

Welcome to the forum and to the Bitcoin world. You are at the right place to learn a lot about this amazing technology. This is exactly what you need to do as a newbie, read, research and learn. Also ask questions.

1. Many believe this tjme is now. Price has been pretty stable throughout the year, we have a solid bottom at $200 and many believe we can't go much lower than this. I tend to agree.

2. Longer time. I would say invest what you can afford to lose and hold it 5 years. That's what I am doing anyways.

3. Cloudmining and faucets, absolutely stay away.

4. At the moment only signature campaigns, if you know enough about Bitcoin and if you don't spam of course.

5. Forget about it if you don't have very free electricity.

Good luck!

[gentlemand]

Do as much reading up as possible and come to your own conclusions.

[asad777]

Don't use faucts, it is just a waste of time
it is not recommended to mine with a PC, you are late man (use a miner)
secure your wallet with 2FA
Only sign messages when you really need them
Don't trade with low capital

enjoy using bitcoin

[chaser15]

I'm new here.
I want to save bitcoin for my future or for my retirement. I strongly believe the next financial revolution must be based on bitcoin.
I just wanted to get your ideas and advice for a new bitcoin user to avoid any kind of issue usually a new bitcoin user faces....like
1. When to buy bitcoin
2. How long we need to hold bitcoin
3. Time wasting bitcoin earning methods
4. Best bitcoin making methods
5. Mining opportunities etc

You really want to invest money on buying btc's? If yes,

1) Take a look in bitcoin price chart for at least week. Monitor it. Record price everyday then begin a speculation about its high and low price. Read some experts analyzations too.

2) Read number 1

If no,

Joined signature campaign. If you dont want to wait your account to rank up you can invest your money by buying an account here with a minimum of Senior Member rank.

[vendetahome]

i would advice to buy bitcoins after a price drop as after a drop theres usually a growth after some time an never gamble the bitcoins you buy as most probably you would loose money

[Ceizer54]

I'm new here.
I want to save bitcoin for my future or for my retirement. I strongly believe the next financial revolution must be based on bitcoin.
I just wanted to get your ideas and advice for a new bitcoin user to avoid any kind of issue usually a new bitcoin user faces....like
1. When to buy bitcoin
2. How long we need to hold bitcoin
3. Time wasting bitcoin earning methods
4. Best bitcoin making methods
5. Mining opportunities etc

Welcome to the world of bitcoin...Here are the answers to your questions...
1.Buy when price is continuously dropping..for that keep track of bitcoin prices regularly.

2.It depends on you,the more patience you have and the longer you can hold the more are the chances of your profit.

3.Faucets are the biggest time wasting methods
4.Signarure Compaign,Free lance jobs,Trading
5.Truely speaking bitcoin mining is not any more profitable for regular users..You will lose more then you earn

[neonshium]

Here are my answers from my own experience....

1. Buy now. Because all the prices are good price. Only matter the affordable money in your hand. Even price go down you get a good average buying price.
2. Minimum 5 years. Better assign your bitcoins for your retirements.
3. Yes, use faucets if you want kill time.
4. Use this forum to find out your suitable bitcoin making methods.
5. Mining is corporate process now. Forget it. Only big companies can do that.

[asad777]

I won't force new bitcoiner to buy a lot of bitcoin or something, but i'll advice these :
1. Never try ponzi/HYIP/money game/risky investment
2. Don't do faucet
3. Stay away from gambling, expect you're proffesional
4. Don't mine
5. Learn about trading for more profit
6. Try buy bitcoin if you have extra money
7. Active in bitcoin forum to get more knowledge

gambling depends on luck, so I don't know what do you mean by "expect you're proffesional"
in all cases is is so risky

[CanIHazBitcoin777]

I'm new here.
I want to save bitcoin for my future or for my retirement. I strongly believe the next financial revolution must be based on bitcoin.
I just wanted to get your ideas and advice for a new bitcoin user to avoid any kind of issue usually a new bitcoin user faces....like
1. When to buy bitcoin
2. How long we need to hold bitcoin
3. Time wasting bitcoin earning methods
4. Best bitcoin making methods
5. Mining opportunities etc

1) Now
2) Forever
3) Faucets
4) Gambling & Trading & Signature campaign
5) Only in altcoins, bitcoin mining is not profitable anymore

[marsmyname]

Nice guides most essential for newbies. Many new comers like me first go to faucets then realize the importance of time.
People if share other information other OP asked would be more appreciated.
Thanks for guiding newbies....

[VirosaGITS]

I won't force new bitcoiner to buy a lot of bitcoin or something, but i'll advice these :
1. Never try ponzi/HYIP/money game/risky investment
2. Don't do faucet
3. Stay away from gambling, expect you're proffesional
4. Don't mine
5. Learn about trading for more profit
6. Try buy bitcoin if you have extra money
7. Active in bitcoin forum to get more knowledge

gambling depends on luck, so I don't know what do you mean by "expect you're proffesional"
in all cases is is so risky

With sufficient turn over, you can turn the margin into statistically safe profit turn over. For instance renting hash under the Bitcoin expected 25BTC block reward overtime become statistically profitable and you get the block fees as a safety net.

You just need to be big enough to eliminate variance, which is hard to go.

Nice guides most essential for newbies. Many new comers like me first go to faucets then realize the importance of time.
People if share other information other OP asked would be more appreciated.
Thanks for guiding newbies....

Still don't feel shy to ask if you have questions.

[Xialla]

I'm new here.
I want to save bitcoin for my future or for my retirement. I strongly believe the next financial revolution must be based on bitcoin.
I just wanted to get your ideas and advice for a new bitcoin user to avoid any kind of issue usually a new bitcoin user faces....like
1. When to buy bitcoin
2. How long we need to hold bitcoin
3. Time wasting bitcoin earning methods
4. Best bitcoin making methods
5. Mining opportunities etc

oki, my personal opinions based on last 3 years here:

1* for long-term (1-5y)? any-time. really. short-term, I have weak hands:)
2* until you feel it comfortable to hodl
3* mining, cloud-mining, faucets
4* buy bitcoin for USD from you salary
5* forget about it if you want some profit and buy USB miner and RPi if you want just mine and try something new

just buy some bitcoins, transfer them to paper wallets and enjoy this board - this is what I learned in 3 years and you can do it right now and for free.)