Did I miss an opportunity? At what point would you say is too high to buy?

[Aztec]

Hi all

I feel like i got into Bitcoin just one month too late. When I first started reading on here 1 BTC=£27. The next time I looked a few days later they were about £42. I knew it was a good investment opportunity but I was/am broke. I've just been watching the price rise and ruing my bad timing. I put a couple of high price items that I'm not using, up for sale at the start of the week, hoping to get btc at £100 once I sold the stuff. I just looked and they are almost 200 usd, £126.3 in our superior currency (haha j/k).


So, I'm thinking I've shit the biscuit as they say. Missed the old boat. Or have I? What if these things are £200 next week?

At what point did/do you think they were too rich for you to buy? I was willing to pay £100 but might just stick to my meager Aztec mining operation now.

Shameless Plug If anyone wants a US Fender P bass or canon L glass pm me

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[Bowjob]

It's really irrelevant how much bitcoins you're getting since bitcoin is just an arbitrary number. It can be divided infinitesimally so hop on. The value changed, that's all.

[ECore]

buy some for investment, buy some to spend.....watch the price soar.  It's fun.

[Shermo]

Only invest what you can afford to lose, price may go up, price may go down nobody REALLY knows what will happen.

It's a risky investment, but no more so than a volatile stock really. I've invested some of my savings because it I think its worth the risk and potentially could be worthwhile in the future for online spending as well as an investment.

[Tirapon]

Buy, and if it drops, hold until it goes back up. While you're waiting, take advantage of the cheaper coins and buy some more. Simple.

-Edit-
Shermo's advice is good, please be aware of the risk. Consider what you can afford to lose.

[Come-from-Beyond]

I feel like i got into Bitcoin just one month too late...

One more train for future millionaires has just departured. You have a chance to catch it. It's called Bytecoin.

[crawdaddy]

Hi all

I feel like i got into Bitcoin just one month too late. When I first started reading on here 1 BTC=£27. The next time I looked a few days later they were about £42. I knew it was a good investment opportunity but I was/am broke. I've just been watching the price rise and ruing my bad timing. I put a couple of high price items that I'm not using, up for sale at the start of the week, hoping to get btc at £100 once I sold the stuff. I just looked and they are almost 200 usd, £126.3 in our superior currency (haha j/k).


So, I'm thinking I've shit the biscuit as they say. Missed the old boat. Or have I? What if these things are £200 next week?

At what point did/do you think they were too rich for you to buy? I was willing to pay £100 but might just stick to my meager Aztec mining operation now.

Shameless Plug If anyone wants a US Fender P bass or canon L glass pm me

What you are seeing is a bubble. I think the real value is somewhere around $10-$20 a coin.

Bitcoin has some issues to workout before a true $100+ price point can be achieved.

[Aztec]

Thanks guys. I appreciate the input.

It's really irrelevant how much bitcoins you're getting since bitcoin is just an arbitrary number. It can be divided infinitesimally so hop on. The value changed, that's all.

This is a really good point. I don't have to own whole coins. I could still invest the amount I had in mind.

I'm only selling this stuff because it isn't getting any use. I have cover and I do have a good feeling about BitCoin no matter the perceived flaws/risks.

And if it all pays off I will be able to get the stuff that I really need. Like this: http://www.sandberg-guitars.com/basscat-overview/calv-series/calvs

[acoindr]

Aztec,

I don't think bitcoins are finished rising. I've often said they could be worth $100K each.

So I don't think you've missed all of the opportunity in Bitcoin. However, there may be another even greater. Right now if you have $1,000 to invest you'll get about 5 bitcoins. If/when bitcoins reach $1,000 each you will have made $4,000. The way prices have been going they might hit that in less than a year, and a 400% increase on your money in 1 year isn't bad by any standards.

There is another story.

In October 2012 due to developments in this community - namely the creation of a power consolidating "Bitcoin foundation" - I realized it would be healthy for there to be market alternatives to Bitcoin. In a post called Solution to the Bitcoin Foundation I advised people to support other cryptocurrencies like Litecoin.

My conclusion in that post is relevant to your question:

...

I think everyone (TBF opponents in particular) should begin adopting, promoting and using Litecoin to diversify cryptocurrencies in the market. People should have cryptocurrency portfolios, I think with BTC and LTC starting things off. Exchanges, eWallets, and merchants should add support for multiple cryptocurrencies so people can switch between them easily. Vircurex.com and Btc-e.com currently reflect this well.

The exchange rate for Litecoins I estimate should be around $3, which is about 4 times less than Bitcoin's current rate, because there will be about 4 times as many Litecoins than Bitcoins in total. I personally will be working hard to help the community move in this direction. It also means broader wealth distribution as there are already about the same number of LTC as BTC in existence.

At the time I wrote that litecoins, which had the most traction of all alternative coins, were worth about $0.04-$0.05 each. Today they are worth about $4 each. At that time bitcoins were about $12 each which is why I concluded litecoins should be worth $3 or four times less, since there are four times as many litecoins as bitcoins total.

I still believe litecoins should be about 4 times less than bitcoins, and while the market for them has obviously picked up I think it's still behind (bitcoins currently ~$200). Litecoins jumped from about $0.60 to almost $6 recently correlating with the surge in bitcoin prices.

If you do the math investing that same $1,000 in litecoins, should they ever settle at 4 times less than bitcoins, you'll make a lot more than 400%.

https://btc-e.com/

[Elwar]

If you still have fiat currency, you have an opportunity to stop using that ancient form of spending and come to a useful currency.

[kerogre256]

Hi all

I feel like i got into Bitcoin just one month too late. When I first started reading on here 1 BTC=£27. The next time I looked a few days later they were about £42. I knew it was a good investment opportunity but I was/am broke. I've just been watching the price rise and ruing my bad timing. I put a couple of high price items that I'm not using, up for sale at the start of the week, hoping to get btc at £100 once I sold the stuff. I just looked and they are almost 200 usd, £126.3 in our superior currency (haha j/k).


So, I'm thinking I've shit the biscuit as they say. Missed the old boat. Or have I? What if these things are £200 next week?

At what point did/do you think they were too rich for you to buy? I was willing to pay £100 but might just stick to my meager Aztec mining operation now.

Shameless Plug If anyone wants a US Fender P bass or canon L glass pm me

Just imagine if you have 1 bitcoin at the moment you are in 10milion club on planet with 7 bilion people..

[matt608]

It's definitely worth buy a small amount just for the 'what if' scenario.  What if they went to $10k a coin and you got nothing.  That might be worse than putting it all in and losing it! Or it might not, depending on how much other money you have.

[Elwar]

Use Bitcoin as a currency. Dump your old currency and use the best one.

While you use that new currency, it may gain in value quickly or slowly.

Either way, trusting fiat right now is risky.

[Aztec]

One more train for future millionaires has just departured. You have a chance to catch it. It's called Bytecoin.

I have to admit I have only just heard of Bytecoin. Will do my homework though thanks

Aztec,

I don't think bitcoins are finished rising. I've often said they could be worth $100K each.

So I don't think you've missed all of the opportunity in Bitcoin. However, there may be another even greater. Right now if you have $1,000 to invest you'll get about 5 bitcoins. If/when bitcoins reach $1,000 each you will have made $4,000. The way prices have been going they might hit that in less than a year, and a 400% increase on your money in 1 year isn't bad by any standards.

There is another story.

In October 2012 due to developments in this community - namely the creation of a power consolidating "Bitcoin foundation" - I realized it would be healthy for there to be market alternatives to Bitcoin. In a post called Solution to the Bitcoin Foundation I advised people to support other cryptocurrencies like Litecoin.

My conclusion in that post is relevant to your question:

...

I think everyone (TBF opponents in particular) should begin adopting, promoting and using Litecoin to diversify cryptocurrencies in the market. People should have cryptocurrency portfolios, I think with BTC and LTC starting things off. Exchanges, eWallets, and merchants should add support for multiple cryptocurrencies so people can switch between them easily. Vircurex.com and Btc-e.com currently reflect this well.

The exchange rate for Litecoins I estimate should be around $3, which is about 4 times less than Bitcoin's current rate, because there will be about 4 times as many Litecoins than Bitcoins in total. I personally will be working hard to help the community move in this direction. It also means broader wealth distribution as there are already about the same number of LTC as BTC in existence.

At the time I wrote that litecoins, which had the most traction of all alternative coins, were worth about $0.04-$0.05 each. Today they are worth about $4 each. At that time bitcoins were about $12 each which is why I concluded litecoins should be worth $3 or four times less, since there are four times as many litecoins as bitcoins total.

I still believe litecoins should be about 4 times less than bitcoins, and while the market for them has obviously picked up I think it's still behind (bitcoins currently ~$200). Litecoins jumped from about $0.60 to almost $6 recently correlating with the surge in bitcoin prices.

If you do the math investing that same $1,000 in litecoins, should they ever settle at 4 times less than bitcoins, you'll make a lot more than 400%.

https://btc-e.com/

Thanks very much for this input Doc (acoindr)

I am certainly going to give this a lot of thought. Who dares wins.

[matt608]

Did I miss an opportunity? At what point would you say is too high to buy?

In the future I'd reccomend toking up after you've invested.
 

[Aztec]

Did I miss an opportunity? At what point would you say is too high to buy?

In the future I'd reccomend toking up after you've invested.
 

Haha wize words indeed

[BitDreams]

How many people out of  the current human population of 7,077,539,299 have a desire for one whole bitcoin?

http://www.census.gov/main/www/popclock.html

U.S. 315,638,679
World 7,077,539,299
22:12 UTC (EST+5) Apr 08, 2013

If you purchase one bitcoin now, you solve the problem of having never purchased just one.

[Aztec]

How many people out of  the current human population of 7,077,539,299 have a desire for one whole bitcoin?

http://www.census.gov/main/www/popclock.html

U.S. 315,638,679
World 7,077,539,299
22:12 UTC (EST+5) Apr 08, 2013

If you purchase one bitcoin now, you solve the problem of having never purchased just one.

You're right, Tiz my duty to acquire at least 1 of the precious coins. I'm glad to say that Aztec Mining Corp is currently, officially worth 0.84 BTC

[yvv]

> At what point would you say is too high to buy?

Right now, if you do not need bitcoins to pay for something.

[BorderBits]

Just imagine if you have 1 bitcoin at the moment you are in 10milion club on planet with 7 bilion people..

Hopefully there'll be no successful businesses that require many thousands of transactions processed per minute -- because BTC can't handle that.