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Question: Need help with Bitcoin, about how to make money one you bought bitcoins?  (Voting closed: August 17, 2017, 02:43:52 PM)
dont know what this option is for - 2 (66.7%)
I dont know what this option is for - 1 (33.3%)
Total Voters: 3

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Author Topic: Buying Bitcoins and making money  (Read 981 times)
wapotown
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August 14, 2017, 02:43:52 PM
 #1

Ok if i buy 100 dollars on bitcoin and in the next days the bitcoin price goes way way down, will i lose my bitcoin can i just leave the bitcoin there for a year and wait till it gets the highest price and sell it?

do you ever lose your bitcoin if they go to low or you can just leave them there forever till they go high o  price?
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August 14, 2017, 02:49:25 PM
 #2

Your Bitcoins never vanish unless you have them on a private key and lose it somehow. If you store them on a microwallet or any faucet they may run away with but they are still there. The price of bitcoins has nothing to do with that even if 1 bitcoin goes back to 1$.

So yes, you can just store them forever as long as bitcoin in general exists no matter the price.
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August 14, 2017, 03:02:36 PM
 #3

Ok if i buy 100 dollars on bitcoin and in the next days the bitcoin price goes way way down, will i lose my bitcoin can i just leave the bitcoin there for a year and wait till it gets the highest price and sell it?

do you ever lose your bitcoin if they go to low or you can just leave them there forever till they go high o  price?

You don't understand how this works man. Okay for that 100$ you will get 0.02344 BTC at a current price. Now if BTC price drops you still still have that 0.02344. Let's say price is 3000$. You now have 70$. Let's say you wait 1 year and price of Bitcoin is 12,000$, you still have 0.02344 BTC but now it's worth 281$
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August 14, 2017, 03:10:49 PM
 #4

Ok if i buy 100 dollars on bitcoin and in the next days the bitcoin price goes way way down, will i lose my bitcoin can i just leave the bitcoin there for a year and wait till it gets the highest price and sell it?

do you ever lose your bitcoin if they go to low or you can just leave them there forever till they go high o  price?

don't trade bitcoin, it's not that easy to make money with simple trading on bitcoin, it's better if i can suggest, to buy shitcoin and wait for the pump and dump and repeat with another one, the profit is much higher than trading with bitcoin if you choose the correct altcoin, because they can be pumped 100x



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Rainbot
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August 14, 2017, 03:21:15 PM
 #5

You buy and sell when you want... nobody will force you to do anything. Bitcoin is like any other commodity or currency you buy..

you make your own decisions. I am glad to see that you grasp the concept that you do not have to buy 1 full bitcoin. Some newbie

users seem to think that you have to buy a whole bitcoin and then they drop the idea because they think that they cannot afford it.

Good luck .... you just went down the rabbit hole.  Wink

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August 14, 2017, 03:24:59 PM
 #6

Bitcoin is like stocks really, you need to be patient until the price changes to your demands, but no one actually can predict the value of bitcoin so be careful

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August 14, 2017, 03:26:55 PM
 #7

Ok, so i bought a 100 dollars of bitcoin at coinbase so for the price it was ($4275) when i bought it i got .02239684

so basically if the bitcoin price goes to $8550 i would have an estimate of $200 for the bitcoins i have

so all i have to do is wait till the price goes real high and sell them if i feel like it?
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August 14, 2017, 03:28:19 PM
 #8

Yeah your btc stil remains the same amount you had in your wallet but value depends. Changes may happen periodically as the market goes up and down.
You understand it correctly but need to learn more.

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August 14, 2017, 03:29:12 PM
 #9

Ok if i buy 100 dollars on bitcoin and in the next days the bitcoin price goes way way down, will i lose my bitcoin can i just leave the bitcoin there for a year and wait till it gets the highest price and sell it?

do you ever lose your bitcoin if they go to low or you can just leave them there forever till they go high o  price?
your bitcoin will just be there mate its just the value for converting it to fiat that will change but if you already bought bitcoin and let it stay inside your
wallet time can tell if the value rise up to 1M $ so you can think if how much will be the worth of your bitcoin holdings.

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August 14, 2017, 03:32:39 PM
 #10

Ok if i buy 100 dollars on bitcoin and in the next days the bitcoin price goes way way down, will i lose my bitcoin can i just leave the bitcoin there for a year and wait till it gets the highest price and sell it?

do you ever lose your bitcoin if they go to low or you can just leave them there forever till they go high o  price?

Pretty simple. You buy some BTC for 100USD and put those in your own wallet. There yout BTC is safe and you hold the private keys for those coins!
As long as you don't participate in trading on an exchange or sell your coins to other persons in private while the price starts to decrease, you don't make any loss! As long as you don't sale you don't make any losses!

So yes you can just hold for one year and hope the price will be higher than you have bought. Many people do so. So don't worry.
But nobody can predict the future. Maybe the coins will be worth less at that time. In that case you may hold a bit longer and just wait until the price starts to rise again and you're above your bought price and sell then.

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August 14, 2017, 04:06:23 PM
 #11

Ok, so i bought a 100 dollars of bitcoin at coinbase so for the price it was ($4275) when i bought it i got .02239684

so basically if the bitcoin price goes to $8550 i would have an estimate of $200 for the bitcoins i have

so all i have to do is wait till the price goes real high and sell them if i feel like it?

That is correct. Since you already bough, main thing to do now i not to shit yourself and sell when price goes down, and it may go down. That is where most of newbies lose money, they sell for less than they bought because they are impatient and can't wait till the price goes back up
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August 14, 2017, 04:21:12 PM
 #12

Ok if i buy 100 dollars on bitcoin and in the next days the bitcoin price goes way way down, will i lose my bitcoin can i just leave the bitcoin there for a year and wait till it gets the highest price and sell it?

do you ever lose your bitcoin if they go to low or you can just leave them there forever till they go high o  price?
You probably made a right decission if you invested 100$ now, but for your question to hold the bitcoin is definitely the right thing to do OP. If you wish to leave it there, you can but be carefull to store your private key.
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August 14, 2017, 04:29:48 PM
 #13

Bitcoin is like stocks really, you need to be patient until the price changes to your demands, but no one actually can predict the value of bitcoin so be careful
No bitcoins is not like stocks because if we buy bitcoins and hold for long time just like couples years later,
 it will not gives dividen like stocks, we just can get the profit from increasing of bitcoins price,
bitcoins is more like gold can be mined and has limited numbers, price of bitcoins will be more expensive in the future
 so it is just can be traded on the market ( trading altcoins or bitcoins to fiat).

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August 14, 2017, 04:33:55 PM
 #14

This is a very basic question but some Bitcoin holders might have been wondering the same thing for a while until someone told them that their Bitcoin will remain the same but it is only the value that can go down and up. It is just like buying a real gold, over time it will not diminish in terms of grams but its value might go up or down. And Bitcoin being the digital gold then it is the same analogy we have here.

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August 14, 2017, 04:36:04 PM
 #15

Ok if i buy 100 dollars on bitcoin and in the next days the bitcoin price goes way way down, will i lose my bitcoin can i just leave the bitcoin there for a year and wait till it gets the highest price and sell it?

do you ever lose your bitcoin if they go to low or you can just leave them there forever till they go high o  price?
Right, for business, waiting is the job that you need to accept. However, if you only invest $ 100, it is not worth your time in a year to get a profit.

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August 14, 2017, 04:36:17 PM
 #16

Bitcoin is just like gold that you can hold despite of its price and even after many years you will have same amount of gold but its value might skyrocket. Same goes for bitcoin, because bitcoin is digital gold.  Wink

However you have to be quite careful when storing your bitcoin for long term, use either paper wallet printed from offline printer/computer or hardware wallet to store your bitcoin for years.

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suvo05
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August 14, 2017, 04:40:28 PM
 #17

confused about your poll
poll is like below

Poll
Question:   Need help with Bitcoin, about how to make money one you bought bitcoins?  (Voting closes: August 17, 2017, 08:01:52 PM)
 dont know what this option is for
 I dont know what this option is for
View results
Submit Vote

 both the options are same and "I really dont know what that option for"


And also confused about your question---
Ok if i buy 100 dollars on bitcoin and in the next days the bitcoin price goes way way down, will i lose my bitcoin can i just leave the bitcoin there for a year and wait till it gets the highest price and sell it?

do you ever lose your bitcoin if they go to low or you can just leave them there forever till they go high o  price?

mrfreezeh
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August 14, 2017, 05:03:40 PM
 #18

Ok if i buy 100 dollars on bitcoin and in the next days the bitcoin price goes way way down, will i lose my bitcoin can i just leave the bitcoin there for a year and wait till it gets the highest price and sell it?

do you ever lose your bitcoin if they go to low or you can just leave them there forever till they go high o  price?
Right, for business, waiting is the job that you need to accept. However, if you only invest $ 100, it is not worth your time in a year to get a profit.
Haha if you can take advantage some opportunity when the market recovery like early this year, you still can get rich with this small money. I have some friends become to millionaire after one year with $10 in first time.

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Worldcore
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RedditMaster
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August 14, 2017, 05:06:15 PM
 #19

Ok if i buy 100 dollars on bitcoin and in the next days the bitcoin price goes way way down, will i lose my bitcoin can i just leave the bitcoin there for a year and wait till it gets the highest price and sell it?

do you ever lose your bitcoin if they go to low or you can just leave them there forever till they go high o  price?

Good question.

No, you will not lose your Bitcoin. You keep the same amount of Bitcoin as always, but the value will be less. Then you can wait for the value to rise again to get your money back.
bit-freedom
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August 14, 2017, 05:18:47 PM
 #20

If the Bitcoin price go down, your investment value decrease. You will not lose the Bitcoin.

You can keep your Bitcoin as long as you want and sell at a higher price than the price you buy it for. In this case, you gain some profit. Remember to keep your Bitcoin in a secure wallet. Good luck.

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