New Here , Am i too late for bitcoin ?

[dennisdmanis]

Hi all , just read about bitcoin lately and saw the bullrun. Am i too late to invest to mine or to buy them to keep ? 

[Lethn]

I don't think you're too late to invest but it may be too expensive if you're completely new, the thing I'm doing is looking a lot at altcoins because a lot of people tend to think they're worthless so you can buy up a lot of them for cheap and hold them or take advantage of the pretty big price swings, I've actually made a bit of cash for myself this way.

Beware though, if you ever get into trading being able to read the charts and understand how everything works is a must.

[Naer]

I'd look into peercoin

[jasonarchie]

Maybe you can try to look into alternate coins , Bitcoin is on the peak now

[Neo.op]

What do you think will be the future value of the coins? If you think they are still undervalued at $1k, then no you are no late. But if you think they are overvalued then yes you are late.
To tackle the question from the other side, I think most of us will agree its too late to be mining them unless you have access to quite some investment.

[raid_n]

Maybe you can try to look into alternate coins , Bitcoin is on the peak now

On the peak of what? If Bitcoin was indeed at its limit then altcoins would be too.
Altcoins may be the better speculation vehicle at the moment but it is up to Bitcoin to convince the world that cryptocurrencies are the future.
Why not invest a small amount in Bitcoin and see how things go?

On a side note: I would be very weary about alternative digital currencies that do not rely on a Proof of Work method.
The intentions with Peercoin are good but I am unsure if an exclusive Proof of Stake method works.
Proof of Work acts as a synchronizer for the entire system making Byzantine attacks and excessive Block creation very hard

[ragingtoot]

dont bother on mining , you can try the alternate now to trade bitcoin like forex =p

[Eilca]

Right now, bitcoin is still far from mass adoption.
It is not really too late yet.

[Neo.op]

dont bother on mining , you can try the alternate now to trade bitcoin like forex =p

I am not entirely sure if that is a good idea considering the fluctuations in btc, its still not stable.

[Light]

It's not too late, although if I were you I might wait for a bit to see if the market crashes or not, I still feel that it's entirely speculators who are driving the price up so high and that once this speculation dies down the price is going to plummet back downn ~100 levels we have been seeing for a while. As for mining, the difficulty is continually going up and mining gear takes a while to get so you may not reach ROI any time soon. My suggestion would be to wait a bit and possibly invest a bit into buying some BTC.

[jonanon]

I wouldn't say it's too late - I'd advise day trading if you know what you're doing......

[raid_n]

... I still feel that it's entirely speculators who are driving the price up so high and that once this speculation dies down the price is going to plummet back downn ~100 levels we have been seeing for a while.

Do you really believe a 90% drop in price would let BTC survive?
I believe there is potential for future larger crashes but if you expect Bitcoin to go "to the moon" a drop like that would probably kill it (maybe people would flee to an altcoin?)

[gripflierGO]

... I still feel that it's entirely speculators who are driving the price up so high and that once this speculation dies down the price is going to plummet back downn ~100 levels we have been seeing for a while.

Do you really believe a 90% drop in price would let BTC survive?
I believe there is potential for future larger crashes but if you expect Bitcoin to go "to the moon" a drop like that would probably kill it (maybe people would flee to an altcoin?)

Yes, BTC would survive as it did in the past already after big crashes. Many would see good oppurtunity to buy cheap coins instead. And if Bitcoin crash, other alt coins wil crash too, these alt coins are good only to speculate against Bitcoin 

[raid_n]

Yes, BTC would survive as it did in the past already after big crashes. Many would see good oppurtunity to buy cheap coins instead.

I believe the mistake in this assumption is to project past situations into the future. There was a lot more uncertainty with BTC in the past and less competition.
In my view the only way that Bitcoin can suffer such a price drop is if the general consensus is that there is a massive flaw, be it technical nature or through the trading systems.

People wishing for such price drops generally say so because they want to buy cheap coins and later sell them for profit.
If the value halves there will already be a lot of people seeing a potential doubling of their investment once prices recover.
The lower prices drop the more people will have to seriously doubt that bitcoin will ever reach its previous ATH again.

I am not saying that this is impossible but it is becoming less and less likely.
That and the fact that if people expect bitcoin to eventually reach an astronomic value it will have to double ever so often for it to reach that value in a finite amount of time

[yntro]

No, there are still ways to earn BTC but harder and more expensive ones. You can buy mining hardware or offer your services to others for BTC

[niothor]

Maybe you can try to look into alternate coins , Bitcoin is on the peak now

Alternate coins have no value other than speculation. Even litecoin... what the hell can you buy with litecoins?
Putting aside NMC there is no need for any other alt. You can't do anything with them , just speculation , and if bitcoin price goes down so goes their price.
But bitcoin can go up again because of its actual demand , alt coins can rest forever in the garbage.

[sweetNlow]

As a newbie myself, I'd say never too late to get in on Bitcoin. Bitcoin mining hardware? Maybe.  

[niothor]

... I still feel that it's entirely speculators who are driving the price up so high and that once this speculation dies down the price is going to plummet back downn ~100 levels we have been seeing for a while.

Do you really believe a 90% drop in price would let BTC survive?
I believe there is potential for future larger crashes but if you expect Bitcoin to go "to the moon" a drop like that would probably kill it (maybe people would flee to an altcoin?)

Bitcoin dropped from 32 to 2 once , then again from 266 to 50 , nothing killed it and people learned not to panic.
And flee to what? Shitcoin? If bitcoin goes down no alt will survive.

[Mualla]

yes.

[vabtcinvestor]

It will never be too late , but getting in from the start can be tricky to choose when to get in.. the rule of trading is buy low, sell high - so it might be wise to wait for a pullback in price before getting in.

It's not so bad buying now when you already have coins, it just increases your dollar cost average price per coin... So if you bought 10 coins at $500, and 10 at $1000, your overall price paid is $750 per coin.