Beginner Tips on Investing in Bitcoin?

[Bit_Happy]

Buy low, sell high. And don't mine.

and hold it enough long

Don't hold too long.
If you must "Buy and Hold" sell at least 25% on massive rallies, so you can buy back cheaper and make extra BTC.

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[NXTplayer]

the only tip is buy bitcoin wen it's cheap and hold it.

[makebitcoin]

Start a business that accepts Bitcoin. Best way to make coins. I personally also love to invest in sites like Just-Dice.

[bumblebeee]

Thanks this thread gave me some insight on investing with bitcoin. 

[lyth0s]

Assuming that it's risky to keep bitcoin now, because of the bear trend, it's also risky to have alt coins, because they are all valued in bitcoins. A crash in bitcoin takes alt coins down also on fiat terms.
Then, if bitcoin goes down, you will be able to buy litecoin for 4 usd or even lower. Assuming this scenario, buying now isn't a good idea. They will also go high if bitcoin jumps, but in the past it took some time for the alt coins to jump. In the first weeks of the jump of bitcoin to 1200, litecoin was losing value. It only started going up fast a few weeks later. You can enjoy the major jump in bitcoin and then go after the alt coins. Of course, this is just a scenario. Now, alt coins seem much more linked to bitcoin than in the past, so a jump in bitcoin might push alt coins much higher immediately. Anyway, buying now doesn't seem good idea.

The timing is all relative.  If you are trying to flip a quick profit, and get in and out, then now may not be the time to buy.   If you plan on holding for medium or long term, then now could be one of the best times to buy.

I completely agree. If you're looking for a quick profit the question becomes much more difficult and this may indeed not be a good time to buy. However, if you plan on holding for a few years, I think $450 is a GREAT price. IF you plan on buying and holding, buy in before it's too late. If you're looking for a quick buck, you should go check out the TA threads in speculation....Short term I feel that no one can accurately predict the price due to its volatility with the daily news.

In regards to Bit_happy's advice about not "holding for too long" ideology. You could use this reference https://bitcointalk.org/index.php?topic=345065.0 and apply it to your investing. Buy and hold now, at every doubling point sell 10% and then rebuy it during the next dip. Just food for thought.

[bumblebeee]

Thanks this was eye opening for me.

[i dig bitcoins]

Also don't get in the habit of religiously checking the charts for prices (if you do not plan on day trading).  It will quickly turn from a hobby into an unhealthy obsession...lol

True that !!! Been into bitcoins since 2010 but never posted much here. Been away for a long time becuase I did exactly that - checked prices like crazy. Back then I remembered the price going from $2 to $30 then CRASH. Stopped looking at prices every hour since then. I now only look at prices every week or so. Back then I just kept mining without regards to price. Man, it sure was fun back then.

Good times baby, good times

[pattimarkow]

 

I'm a beginner, too.  Found a lot of HYIPs out there looking to grab my bitcoins.  Dumbly and innocently, I believed in one
and as soon as I increased my investment, they stopped paying out (that was Satoshihype).  Around the same time I
found a bitcoin investment company that was more in line with what I was searching for:  I couldn't invest much and
it paid out 1% daily.  The company has 27 years experience in forex and opened this site so that their forex investors
could take opportunity by investing in the bitcoin market.

At satoshihype I only lost .005 bitcoins (about $20), so I invested the rest of my bitcoin fortune in My Daily Coin (I invested
.115 bitcoins).  Received 1% daily, as promised.  I reinvested my profit and it started to add up.  Then I needed some cash
so I tested out the withdrawal process.  All instant.  You can withdraw your principal after the first 24 hours and your profit
immediately if you don't reinvest it.

The site checks out.  I want to gradually increase the amount of bitcoins I'm holding, so this site is perfect.  If you want
your idle bitcoin to dance and make a profit for you instead of holding it in a stagnant wallet, try here.  If you get nervous,
just withdraw!  I had the withdrawn bitcoins in my wallet again in a matter of seconds!

https://www.mydailycoin.com/index.php?ref=pattimarkow

[Erdogan]

Understand what bitcoin really is, start with the whitepaper. Then, get in.

[clout]

listen to warren buffett and don't fall victim to irrational exuberance

[Erdogan]

listen to warren buffett and don't fall victim to irrational exuberance

I forgot - when you inform yourself, don't listen to the uninformed clowns.

[clout]

listen to warren buffett and don't fall victim to irrational exuberance

I forgot - when you inform yourself, don't listen to the uninformed clowns.

I've never met a clown with a $60 bill net worth, have you?

[clout]

Understand what bitcoin really is, start with the whitepaper. Then, get in.

Understand what money is, before you invest in a new conception of money.

[Erdogan]

listen to warren buffett and don't fall victim to irrational exuberance

I forgot - when you inform yourself, don't listen to the uninformed clowns.

I've never met a clown with a $60 bill net worth, have you?

I haven't met him either.

[RyanMilligan1]

Buy low, sell high. And don't mine.

Yes, I agree with this. But, be careful.

Ignore 90% of the things you here. Make your own informed decisions. If you are the type to see a $50 drop and read 3/4 bad articles this isn't for you.


Bitcoin will be very very bumpy. Strong hands will profit largely in the long run, but it can be hard to be strong. Buy bitcoin, and try and forget about 75% of them. Stick them in cold storage. You SHOULD trade with 25% of them.


Bitcoin adoption is directly linked through us using Bitcoin. So with a % of your coins buy and sell. Use them in retailers that accept BTC.

Mass adoption is needed to 'reach da moon'.



HODL but not every single BTC you have. If everyone HODLS, the price would stand still I believe.

[cbeast]

Resist the temptation to spend more than 10% of your discretionary income at one time or 1-5% of any significant amount you are willing to risk in any given week. Buy in slowly. Sell off slowly. For every person that get's lucky taking big risks, there are many that lose doing the same. Stay in for the long haul and you won't be disappointed.

[CurbsideProphet]

Tips:
  Don't invest more than you can afford to lose.
  Don't take investing advice from most people on the internet.
  Don't store your coins for long in a place where you don't control the keys.

Also, be sure to analyze market data for any coin that you're interested in investing in.  http://www.cryptocoinstats.com/ is a good place to start since it has lots of price analysis and graphs to help identify trends.

All good tips.  I doubt the OP will listen though, most people are here to get rich quick and he thinks everyone is making $10k a month and the train is passing him by. 

[blackhull]

Learn so much that you can convince yourself not to invest at all. Then maybe you're close to being ready to invest.

[MyDestiny]

Learn so much that you can convince yourself not to invest at all. Then maybe you're close to being ready to invest.

it doesnt make sense

[jonald_fyookball]

Learn so much that you can convince yourself not to invest at all. Then maybe you're close to being ready to invest.

it doesnt make sense

I think he means play devil's advocate with oneself.  Learn about all of the potential things that could go wrong.... Government intervention, wallet theft, inflation, competing currencies, and so on.