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Author Topic: 7 Interesting Facts Bitcoin You Need To Know Before Buying It  (Read 88 times)
MLBBPLG
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May 23, 2018, 09:31:28 AM
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Many people think Bitcoin is a frightening and confusing thing. Is Bitcoin a form of investment that suits you?

Bitcoin is a digital currency that you can use as a form of investment in the hope that the value of Bitcoin will be more expensive, for transactions, or to send money overseas without any cost. Seven years after it was first launched - Bitcoin grew in popularity, and people started using Bitcoin for various reasons.

Whatever the reason, there are some important things before you buy your first Bitcoin. Here are 7 things you need to know:

1. Bitcoin price is based on supply and demand
2. The amount of Bitcoin is limited
3. Every transaction made with Bitcoin is 100% transparent
4. Choose simple and easy access to your Bitcoin
5. Store your Bitcoin safely
6. You do not have to buy 1 Bitcoin. You can even buy 0.00000001 Bitcoin!
7. Buy Bitcoin as a form of investment, but do not spend all your income on Bitcoin.
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solopay669
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May 23, 2018, 09:38:41 AM
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about bitcoin is always interesting to read, especially if it somehow affects the situation with the overflow of money to his account)))) bitcoin is alive, and will live, even if today his performance is not encouraging)
MLBBPLG
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May 23, 2018, 09:43:21 AM
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about bitcoin is always interesting to read, especially if it somehow affects the situation with the overflow of money to his account)))) bitcoin is alive, and will live, even if today his performance is not encouraging)

indeed bitcoin is the main thing we discuss here, everything that concerns most about bitcoin price, market or anything else.
we just need to advise those who do not know and doubt about bitcoin
MLBBPLG
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May 23, 2018, 10:15:30 AM
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Here's another. 8. Technically, Bitcoin cannot be banned (due to its very nature). Regulated yes, but banned no.

yeah, in my country bitcoin is neutral, it is considered prohibited but consumes tax on the sale of bitcoin
I think it is neutral, only in my country is not recommended to plunge into bitcoin
paymentbit21
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May 23, 2018, 10:16:37 AM
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it seems to me that not all facts are confirmed, everything is composed, but nobody knows the truth.
pxo.011
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May 23, 2018, 10:31:23 AM
 #6

Many people think Bitcoin is a frightening and confusing thing. Is Bitcoin a form of investment that suits you?

Bitcoin is a digital currency that you can use as a form of investment in the hope that the value of Bitcoin will be more expensive, for transactions, or to send money overseas without any cost. Seven years after it was first launched - Bitcoin grew in popularity, and people started using Bitcoin for various reasons.

Whatever the reason, there are some important things before you buy your first Bitcoin. Here are 7 things you need to know:

1. Bitcoin price is based on supply and demand
2. The amount of Bitcoin is limited
3. Every transaction made with Bitcoin is 100% transparent
4. Choose simple and easy access to your Bitcoin
5. Store your Bitcoin safely
6. You do not have to buy 1 Bitcoin. You can even buy 0.00000001 Bitcoin!
7. Buy Bitcoin as a form of investment, but do not spend all your income on Bitcoin.
this is true i read on other thread and planning to sell his house to buy bitcoin rofl, invest what you can dont invest all of you resources.
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May 23, 2018, 10:46:59 AM
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Many people think Bitcoin is a frightening and confusing thing. Is Bitcoin a form of investment that suits you?

Bitcoin is a digital currency that you can use as a form of investment in the hope that the value of Bitcoin will be more expensive, for transactions, or to send money overseas without any cost. Seven years after it was first launched - Bitcoin grew in popularity, and people started using Bitcoin for various reasons.

Whatever the reason, there are some important things before you buy your first Bitcoin. Here are 7 things you need to know:

1. Bitcoin price is based on supply and demand
2. The amount of Bitcoin is limited
3. Every transaction made with Bitcoin is 100% transparent
4. Choose simple and easy access to your Bitcoin
5. Store your Bitcoin safely
6. You do not have to buy 1 Bitcoin. You can even buy 0.00000001 Bitcoin!
7. Buy Bitcoin as a form of investment, but do not spend all your income on Bitcoin.

Before we enter the crypto currency we first learn bitcoin what is it? We know bitcoin is a digital currency or internet money. In the present day we also find out the advantages and disadvantages of bitcoin.

Advantages
Due to the unique nature of virtual currencies, there are some inherent advantages to transacting through Bitcoin that users of other currencies do not get. Digital currencies are a relatively new and untested medium of exchange, and users should be careful to weigh their benefits and risks.
disadvantages
1. Volatile

They call it High-Risk=High-Profit for a reason. You can become a millionaire in a day and be broke within the next week.

2. It's Easy to misplace/User errors

while dealing with Bitcoin or any other cryptocurrency you are very likely to misplace it or lose it while making a transaction.

3. Frequent black market transactions have made owning bitcoin bad for reputations.

try also find other cryptocurrency information that you can only see on google or other people.

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GeorgiyBilyk
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May 23, 2018, 12:21:16 PM
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Many people think Bitcoin is a frightening and confusing thing. Is Bitcoin a form of investment that suits you?

Bitcoin is a digital currency that you can use as a form of investment in the hope that the value of Bitcoin will be more expensive, for transactions, or to send money overseas without any cost. Seven years after it was first launched - Bitcoin grew in popularity, and people started using Bitcoin for various reasons.

Whatever the reason, there are some important things before you buy your first Bitcoin. Here are 7 things you need to know:

1. Bitcoin price is based on supply and demand
2. The amount of Bitcoin is limited
3. Every transaction made with Bitcoin is 100% transparent
4. Choose simple and easy access to your Bitcoin
5. Store your Bitcoin safely
6. You do not have to buy 1 Bitcoin. You can even buy 0.00000001 Bitcoin!
7. Buy Bitcoin as a form of investment, but do not spend all your income on Bitcoin.

very useful information for beginners! I would also add a psychological component: do not panic when falling, always it will grow back! there is no eternal growth, if you are interested in making a profit, do not need to be greedy, you need to record profits in time!correctly, what was noticed - you need to constantly make a diversification of the budget, invest in a variety of coins!

Harding Young
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May 23, 2018, 12:25:55 PM
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Many people think Bitcoin is a frightening and confusing thing. Is Bitcoin a form of investment that suits you?

Bitcoin is a digital currency that you can use as a form of investment in the hope that the value of Bitcoin will be more expensive, for transactions, or to send money overseas without any cost. Seven years after it was first launched - Bitcoin grew in popularity, and people started using Bitcoin for various reasons.

Whatever the reason, there are some important things before you buy your first Bitcoin. Here are 7 things you need to know:

1. Bitcoin price is based on supply and demand
2. The amount of Bitcoin is limited
3. Every transaction made with Bitcoin is 100% transparent
4. Choose simple and easy access to your Bitcoin
5. Store your Bitcoin safely
6. You do not have to buy 1 Bitcoin. You can even buy 0.00000001 Bitcoin!
7. Buy Bitcoin as a form of investment, but do not spend all your income on Bitcoin.
Oh, this is the first time I know that we can buy 0.000000001 bitcoin. Thank you very much for your note. Moreover, I agree with you that the bitcoin price is based on supply and demand. We can not predict exactly its price in the future, we just guess the trend.
jshealth
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June 08, 2018, 12:56:11 AM
 #10

Another fact: It is part of one of the most volatile markets
pooya87
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June 08, 2018, 02:32:05 AM
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6. You do not have to buy 1 Bitcoin. You can even buy 0.00000001 Bitcoin!

theoretically this is correct but practically it is not because of the smallness of it.
first of all 0.00000001BTC is about $0.000076 which is not a meaningful amount so you won't be able to pay that much since there is no $0.000076 unit to pay with. even on exchanges there is a order size limit which prevents you from doing that.
secondly it is the limitation of bitcoin itself. 1 satoshi is lower than the dust and that transaction will be non-standard and will be rejected by the network. so you won't be able to send that amount to your wallet even if you bought it. not to mention fees are at least 146 satoshi.

siekeheros
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June 28, 2018, 10:09:04 PM
 #12

Good info, will forward this thread to some of my newbie friend among other threads. Thanks for the nice explanations!  Grin
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June 28, 2018, 10:49:08 PM
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I can argue about the first one, it's true, but it would be more accurate to say that the price is based on FUD and hype around it.
And when I came into crypto I couldn't understand what is this transparency actually, "will my name be shown in my transaction?" I was wondering. So try to make this rules easier for newbies.

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