Buying/Selling and security info needed please

[day101]

Hi guys,

I'm new to this whole bitcoin thing but with the attention it's received and crazy uptrend in the last coming months I've had no choice but to take notice and want to dive in on the action!

Anyway my question is this... I want to buy some coins, it will most likely be litecoins now as I feel like I may have already missed the boat with the bitcoin trend (feel free to correct me if I'm wrong there) but my issue currently is what I have to do if/when I am ready to sell my coins? So hypothetically speaking, if I bought some coins today and the the trend went through the roof again and I wanted to sell my coins am I right in saying I can only sell what people want to buy off me? Because for example in the share market if you want to sell you can just do it at any point in time and it is a guaranteed sale I believe (think that's right) but with bitcoins are you restricted to what you can sell depending on the demand from buyers? The reason I ask is because if I put serious money into the coins and they do blow up and I decide I want to get out/sell ASAP I want to understand how restricted I am?

Sorry for such a long post I couldn't quite figure out how to explain my question properly but one last thing... Would you guys use a mobile phone to send bitcoins and generate private keys? Phones are harder to pick up viruses etc but I understand your network can watch sites you visit and info you put online so I'm trying to figure out the safest method. Thanks for your time.

[day101]

Hi guys,

I'm new to this whole bitcoin thing but with the attention it's received and crazy uptrend in the last coming months I've had no choice but to take notice and want to dive in on the action!

Anyway my question is this... I want to buy some coins, it will most likely be litecoins now as I feel like I may have already missed the boat with the bitcoin trend (feel free to correct me if I'm wrong there) but my issue currently is what I have to do if/when I am ready to sell my coins? So hypothetically speaking, if I bought some coins today and the the trend went through the roof again and I wanted to sell my coins am I right in saying I can only sell what people want to buy off me? Because for example in the share market if you want to sell you can just do it at any point in time and it is a guaranteed sale I believe (think that's right) but with bitcoins are you restricted to what you can sell depending on the demand from buyers? The reason I ask is because if I put serious money into the coins and they do blow up and I decide I want to get out/sell ASAP I want to understand how restricted I am?

Sorry for such a long post I couldn't quite figure out how to explain my question properly but one last thing... Would you guys use a mobile phone to send bitcoins and generate private keys? Phones are harder to pick up viruses etc but I understand your network can watch sites you visit and info you put online so I'm trying to figure out the safest method. Thanks for your time.

Can anyone shed some light on this please?

[Foxpup]

So hypothetically speaking, if I bought some coins today and the the trend went through the roof again and I wanted to sell my coins am I right in saying I can only sell what people want to buy off me?

Right.

Because for example in the share market if you want to sell you can just do it at any point in time and it is a guaranteed sale I believe (think that's right)

Wrong. You can only sell shares if there is a willing buyer for the shares you want to sell.

but with bitcoins are you restricted to what you can sell depending on the demand from buyers?

Remember that demand from buyers is what sets the price in the first place. If the price is going up, that means that people are willing to buy it for higher prices (in fact, that's the only thing it means).

[day101]

So hypothetically speaking, if I bought some coins today and the the trend went through the roof again and I wanted to sell my coins am I right in saying I can only sell what people want to buy off me?

Right.

Because for example in the share market if you want to sell you can just do it at any point in time and it is a guaranteed sale I believe (think that's right)

Wrong. You can only sell shares if there is a willing buyer for the shares you want to sell.

but with bitcoins are you restricted to what you can sell depending on the demand from buyers?

Remember that demand from buyers is what sets the price in the first place. If the price is going up, that means that people are willing to buy it for higher prices (in fact, that's the only thing it means).

Thanks a lot for clearing that up, much appreciated. Only other thing to ask is would you feel comfortable using your mobile phone to generate private keys etc?