invest in bitcoins?

[cactus-pits]

how about just investing in bitcoins and sitting on them...I know I'm a new b but I've been learning about this for the last month or so...I'm thinking of just taking all my spare money and buying every chance I get...any input is appreciated.

[Birdy]

how about just investing in bitcoins and sitting on them...I know I'm a new b but I've been learning about this for the last month or so...I'm thinking of just taking all my spare money and buying every chance I get...any input is appreciated.

That's what already some people including me do ^^
Well, not all my spare money though.
Make sure you know enough about how to not lose your coins when you put bigger amounts in it.

[cactus-pits]

thanks guys..Birdy, could you explain a tad but about that? or point me in a direction..?

[dragonkid]

Welcome, you should trade with Bitcoin with other AlterCoin. On mcxNOW, it is IMHO the best exchange for trading. You even get interest on your coins.

[Birdy]

thanks guys..Birdy, could you explain a tad but about that? or point me in a direction..?

Sure,
there are two things that make people lose their Btc often:
- loss of the private keys or password to a encrypted wallet / writing down the wrong password
To avoid those, you should have multiple backups (remember the private key is the key to your coins, so any backup will give access to the coins)

- theft most likely due to a trojan/keylogger on your pc or the use of an unsecure online platform

for smaller amounts or day.to.day use I would recommend the online-wallets blockchain.info or inputs.io
for bigger amounts I would recommend using either cold wallets or a paper wallets

Paper wallets are nothing more than the private key to an address written down or printed out on a piece of paper
Best is you don't use a paper wallet address twice

Cold wallets are the private keys (or collection of private keys from local clients like the wallet.dat from bitcoin-qt) saved on offline equipment
This may be an usb stick, a laptop or sd card (or whatever)
Very interesting is the possibility of the Armory Oflline Client that allows you to spend Bitcoin from an offline Pc/laptop

[cactus-pits]

wow..I have so much to learn and understand...

[Birdy]

wow..I have so much to learn and understand...

yes indeed, but it's worth it ^^

Also avoid Altcoins, Bitcoin Mining equipment and Bitcoin securities (unless you really know what you are doing) , most of them are more of a gambling, short term profits, unprofitable or just plain scams.

[mekanical]

Bitcoin is relatively volatile and risky in terms of investments.  If you want to used bitcoins as an investment i would suggest buying and holding them as an investment at just-dice (or somewhere similar) where you would earn some interest.  Though be very careful about where you hold your bitcoins if they are not just sitting in your wallet (and sometimes if they are......), get an understanding of the terms and conditions and know that the government has the power to tear down web domains and freeze company bank accounts in the name of justice if it deems something to be non-compliant.  I would be especially wary of bitcoin securities any complex investment schemes.  If you want a safer investment, try physical silver bullion, price is rather cheap right now.

[Birdy]

Bitcoin is relatively volatile and risky in terms of investments.  If you want to used bitcoins as an investment i would suggest buying and holding them as an investment at just-dice (or somewhere similar) where you would earn some interest.  Though be very careful about where you hold your bitcoins if they are not just sitting in your wallet (and sometimes if they are......), get an understanding of the terms and conditions and know that the government has the power to tear down web domains and freeze company bank accounts in the name of justice if it deems something to be non-compliant.  I would be especially wary of bitcoin securities any complex investment schemes.  If you want a safer investment, try physical silver bullion, price is rather cheap right now.

Holding them on just-dice is like gambling yourself for a long time with the 1% house edge on your side.
It's slightly more likely that you make a small profit, but you might also lose some.

Volatility doesn't matter that much if you hold the coins for a long time and are not in a hurry to sell.
Then you can sell at a time when they are up ^^

[majorX]

Bitcoin is relatively volatile and risky in terms of investments.  If you want to used bitcoins as an investment i would suggest buying and holding them as an investment at just-dice (or somewhere similar) where you would earn some interest.  Though be very careful about where you hold your bitcoins if they are not just sitting in your wallet (and sometimes if they are......), get an understanding of the terms and conditions and know that the government has the power to tear down web domains and freeze company bank accounts in the name of justice if it deems something to be non-compliant.  I would be especially wary of bitcoin securities any complex investment schemes.  If you want a safer investment, try physical silver bullion, price is rather cheap right now.

Holding them on just-dice is like gambling yourself for a long time with the 1% house edge on your side.

There is also possibility someone will steal site BTC, or the owner  will steal it. Too risky in my opinion

[mekanical]

Bitcoin is relatively volatile and risky in terms of investments.  If you want to used bitcoins as an investment i would suggest buying and holding them as an investment at just-dice (or somewhere similar) where you would earn some interest.  Though be very careful about where you hold your bitcoins if they are not just sitting in your wallet (and sometimes if they are......), get an understanding of the terms and conditions and know that the government has the power to tear down web domains and freeze company bank accounts in the name of justice if it deems something to be non-compliant.  I would be especially wary of bitcoin securities any complex investment schemes.  If you want a safer investment, try physical silver bullion, price is rather cheap right now.

Holding them on just-dice is like gambling yourself for a long time with the 1% house edge on your side.
It's slightly more likely that you make a small profit, but you might also lose some.

Volatility doesn't matter that much if you hold the coins for a long time and are not in a hurry to sell.
Then you can sell at a time when they are up ^^

True volatility is quite meaningless over the long term. 

I would add that the chances of losing $ on just-dice over a time period longer than a month are very slim to none.  1% is a small cut, but given the betting volume this becomes a relatively good investment.  You can estimate your profit as such:  Net Profit = (total amount bet)*0.01*0.9 * ((Your investment)/(Total Invested at site)).  This equation becomes more accurate with time, and I imagine it would be pretty dead on over the course of a year.

[knight22]

Keep an eye on upcoming hardware wallets like Trezor https://bitcointalk.org/index.php?topic=122438.0
This might be the best way to store securely your bitcoin.

Here an advice: start with a small amount of bitcoin and play with it as much as you can transferring them and storing them in different ways. Making errors with small amounts is less frustrating if you ever lose them of get them stolen.

[Birdy]

There is also possibility someone will steal site BTC, or the owner  will steal it. Too risky in my opinion

Yes, I don't think it's a great investment (not the worst one though).
The owner is quite trusworthy, but this is like medium-low risk (some from 3rd party, some from house loss die to the low house edge) and low reward.

[Welsh]

What about investing in Bitcoin and not sitting on them and actually use them?

[yvv]

how about just investing in bitcoins and sitting on them...I know I'm a new b but I've been learning about this for the last month or so...I'm thinking of just taking all my spare money and buying every chance I get...any input is appreciated.

Invest in some production. Economy in your country is in deep shit no matter what country are you from. Directing investments into speculations instead of production sector is what hurts it.

[MoneyGod]

you should trade with Bitcoin  On mcxNOW, it is IMHO the best exchange for trading.

[immortal4now]

What about investing in Bitcoin and not sitting on them and actually use them?

Yes, part of your Bitcoins can be used for spending. It helps getting value of your saved Bitcoins

[Birdy]

What about investing in Bitcoin and not sitting on them and actually use them?

What investments are you suggesting?
There are many traps in investing Bitcoins right now.

[Welsh]

What about investing in Bitcoin and not sitting on them and actually use them?

Yes, part of your Bitcoins can be used for spending. It helps getting value of your saved Bitcoins

Keeping Bitcoin in circulation also benefits people who are "Sitting" on their Bitcoin. But, having a savings cold wallet and a spending wallet is also good.

[fattypig]

how about just investing in bitcoins and sitting on them...I know I'm a new b but I've been learning about this for the last month or so...I'm thinking of just taking all my spare money and buying every chance I get...any input is appreciated.

Yes, thats the way. The price going to sky rocket soon.