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Author Topic: Is it too late for someone with a small savings to get involved in Bitcoin?  (Read 882 times)
Kale Salad (OP)
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December 07, 2017, 10:36:26 PM
 #1

A friend of mine began talking about Bitcoin with me a few months ago... When it was valued at $2,000 a piece. A price point in which I can work with!
Within what feels like a blink of an eye, it's now at $15 k and all I can wonder is how a "small timer" like me can get involved. Have I missed the mark?
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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December 07, 2017, 10:55:36 PM
 #2

Is never too late, what i recommend is to invest in an altcoin, just take your time to research the top 30 coins and it will pay off sooner or later by just holding, right now IOTA and stellar lumens are very good candidates in my humble opinion, you can double your investment very quickly.
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December 07, 2017, 11:23:10 PM
 #3

I would advise you to wait this year and not buy anything. There is a version that soon there will be a correction, after which it will be possible to purchase at a pleasant price
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December 08, 2017, 01:48:01 AM
 #4

A friend of mine began talking about Bitcoin with me a few months ago... When it was valued at $2,000 a piece. A price point in which I can work with!
Within what feels like a blink of an eye, it's now at $15 k and all I can wonder is how a "small timer" like me can get involved. Have I missed the mark?

When Bitcoin price was $500 also many people was talking that it is the end and Bitcoin will be dead soon. Now you can see how it looks.
In other words there is never too late to invest in Bitcoin even little amounts! Wink

.
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Darko117
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December 08, 2017, 02:02:02 AM
 #5

A friend of mine began talking about Bitcoin with me a few months ago... When it was valued at $2,000 a piece. A price point in which I can work with!
Within what feels like a blink of an eye, it's now at $15 k and all I can wonder is how a "small timer" like me can get involved. Have I missed the mark?

When Bitcoin price was $500 also many people was talking that it is the end and Bitcoin will be dead soon. Now you can see how it looks.
In other words there is never too late to invest in Bitcoin even little amounts! Wink


I agree, even little amounts are alright. Just be sure to buy little bits now and then as the price fluctuates to average out your over all buy-in. Investing in some altcoins is never a bad idea either.  Wink
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December 08, 2017, 02:15:26 AM
 #6

I think that it is still a good time to buy, but first you should understand a few things.

First the markets have been highly volatile lately, even more than usual.  So if you buy some don't be surprised if the price changes shortly after.  What I am getting at is that you should look at long tern investment, not short term (unless you have extensive knowledge and experience with sort term investing).

Second, while it is not too late, it may be unreasonable to expect the massive returns that others have enjoyed.  It may go up in the long run, but the days of $1000 turning into $1,000,000 may be over.  That doesn't mean that you can't make profits, but you should educate yourself and have reasonable expectations.

Third I consider cryptos, all of them, to be highly risky.  All of this is still in its infancy and anything can happen overnight.  There are definitely some existential risks to BTC and cryptos.  I don't think they will happen, but remember that any investment, no matter how good it looks, always has the chance to go belly up.  So I strongly suggest diversification and not going all in.  This stands not just for bitcoin, but for any investment.
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December 08, 2017, 08:00:53 AM
 #7

A friend of mine began talking about Bitcoin with me a few months ago... When it was valued at $2,000 a piece. A price point in which I can work with!
Within what feels like a blink of an eye, it's now at $15 k and all I can wonder is how a "small timer" like me can get involved. Have I missed the mark?
the truth is you missed the chance to become one of the bigtime now that has many bitcoin because you have already has an idea about this a few years ago. but the bitcoin has opportunity to everyone even if you are late.
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December 09, 2017, 03:13:35 PM
 #8

“The best time to plant a tree was 10 years ago. The second best time is now.”
 If now, you have a certain understanding of BTC, I feel that you can try to join the BTC family.After learning more about BTC, you may find a new world you've never seen before.
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December 09, 2017, 03:29:25 PM
 #9

I think not that late if it is so. But while it is still active and going on, you can still make the most of it. Have to include hope and hard work, plus adding the skills and right ideas to share and learn with the community will inspire us to continue and improve.
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December 09, 2017, 03:32:27 PM
 #10

Never too late but you will also never not have the risk of losing it all. Bitcoin could go to zero if things go south - never forget that. Bitcoin is not backed by anything.
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December 09, 2017, 05:08:27 PM
 #11

I started small when bitcoin was $200 a pop. Only can chuck in $20-$50 a week depending on my salary. Safely made a few bitcoins by just buying in constantly every week no matter what the price was. I started when a few people are already millionaires in the game and earning a decent income by just trading bitcoins. I tell myself that someday I'll also have the same amount of money these dudes have but first I need to build my bank. For over a year I managed to get 10+ bitcoins and held until May of this year where I sold almost everything. I still bought even though the price is $4400 and continued until I get comfortable on the stack that I have. Key is if you don't have the guts to lose money or any faith in what you're doing, don't do it. Everyone is still buying stocks where everyone else is a millionaire, and it's no different with bitcoin. You just got to have some faith in you.

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December 09, 2017, 05:22:40 PM
 #12

No.
Yes.
Both subjective.
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December 09, 2017, 09:16:37 PM
 #13

You can wait for a day that price drops or get ethereum which is cheaper. You can multiply by getting few successful trades.

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December 09, 2017, 09:30:29 PM
 #14

its really hard to tell my friend, but with the way things have been going this year I'm think its foolish to not atleast buy a little. if it bombs, well you tried but mostly you with make some money. Best bet is to probably wait for the price to drop a bit because it will happen. Then I would buy up what I can afford.
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December 09, 2017, 09:35:22 PM
 #15

I would advise you to wait this year and not buy anything. There is a version that soon there will be a correction, after which it will be possible to purchase at a pleasant price

And what if what we're seeing now is that correction and in a week we'll be at $20k? Poor guy will have missed his chance of making money.

OP, nobody will guide you by the hand since we are stepping into an unknown territory. Bitcoin has never been so pricy and it has never been eyed by Wall Street like it is now.
We are at a point where a single day can take us $5k up or down and most of us are people who bought it for a couple hundred USD and got into this upward spiral of 2017.
If you want to get in, do it, but use only the money you're able to lose with no remorse.

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December 09, 2017, 10:12:19 PM
 #16

If people aroused some fear in you while warning you to be careful you can first start by careful investment, something like dothebeats did. This means, if you have in mind to invest X amount of money into promising crypto currencies however you still fear of an incoming correction of the whole market, invest only 20% of X into the market now (or better yet only 10%). The thing is to invest small chunks over a longer period of time, averaging high volatility and possible down-corrections of the market. And go for long-term investments.
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December 09, 2017, 11:47:08 PM
 #17

there's nothing late if there's still any possibility, you'd better to get involving yourself from now before you getting regret inthe future, BTC price are really surprisingly, and it will be more surprised again when the end of this year, keep holding your bitcoin. i think something bigger will be happened to bitcoin.
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December 10, 2017, 12:28:51 AM
 #18

You have to keep in mind that, overall, your bitcoin will buy more things tomorrow than today, since it's a deflationary currency.  Cool
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December 10, 2017, 12:34:04 AM
 #19

You have to keep in mind that, overall, your bitcoin will buy more things tomorrow than today, since it's a deflationary currency.  Cool

Yes, the future potential of bitcoin is very bright.
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December 10, 2017, 12:57:14 AM
 #20

Is never too late, what i recommend is to invest in an altcoin, just take your time to research the top 30 coins and it will pay off sooner or later by just holding, right now IOTA and stellar lumens are very good candidates in my humble opinion, you can double your investment very quickly.

Why do you think Stellar will go up???
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