urbanBTC (OP)
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July 28, 2014, 05:10:40 PM |
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I am new to Bitcoin's and looking to get into them. What is the main advice you wish someone would have told you when you started with Bitcoins?
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RodeoX
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The revolution will be monetized!
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July 28, 2014, 05:29:45 PM |
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Try using bitcoin, not "investing" in bitcoin. While one can hold BTC and may see a rise in value, the real strength of it is utility. So don't waste time and money exchanging for fiat, instead just buy stuff when you want some profit taking.
Don't take or make loans. Don't get side tracked with alt-coins or investment schemes. They are almost always a scam. Don't use PayPal to buy or entertain any fantastic offers. Just set up an account at an exchange in your country and after buying move your bitcoins out of the exchange immediately.
Storing bitcoins anywhere except your machine likely means that you do not really have bitcoins. Sole control of the private must be in your hands. There may be exceptions for small amounts in an online wallet. That allows you to use your phone to buy stuff, so it may be worth a small risk.
Lastly, Know that no one on Earth knows what the price will be in 10mins., much less next week or next month. Do not listen to people telling you it will go up/down. They do not know anything more than you do. They just have a bigger mouth.
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Crossbow376
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July 28, 2014, 05:54:47 PM |
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I am new to Bitcoin's and looking to get into them.
Welcome. What is the main advice you wish someone would have told you when you started with Bitcoins?
Never ever waste time on faucets. It took me a few days to figure out I has been wasting hours on them for earning a tiny fraction of the minimum wage...
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BitCoinDream
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The revolution will be digital
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July 28, 2014, 07:02:57 PM |
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I am new to Bitcoin's and looking to get into them. What is the main advice you wish someone would have told you when you started with Bitcoins?
The first and foremost thing that I'll tell u is Dont get into Alt Coin, however lucrative it seems like.
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ajareselde
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Satoshi is rolling in his grave. #bitcoin
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July 28, 2014, 08:21:24 PM |
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I am new to Bitcoin's and looking to get into them. What is the main advice you wish someone would have told you when you started with Bitcoins?
If you are thinking about investing, understand this first; you will look at it from one angle when you buy and own them, and from another point when u sell them, and you need to be able to controll yourself about that. And make a plan on what you are going to do , when to sell , when to rebuy, and then stick to it, dont make panic decisions good luck
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karlb187
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Need To Contact Me? Go To My Site!
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July 28, 2014, 08:22:51 PM |
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You can make a shit load of bitcoin if your good at marketing
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RiffRofl
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July 28, 2014, 08:37:31 PM |
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Buy then hodl
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urbanBTC (OP)
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July 28, 2014, 09:38:04 PM |
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Thanks for good advice. I will be working up to a bitcoin now.
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polynesia
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July 29, 2014, 02:43:00 AM |
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Read all the sticky threads in this forum, especially under the Beginners section.
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Lanzer
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July 29, 2014, 06:24:08 AM |
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watch out from scams
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Nagato4
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July 29, 2014, 07:09:53 AM |
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Don't store your bitcoin on hosted wallets (exchanges/gambling sites). Don't risk what you can't afford to lose. Don't trust others easily. Use escrows when possible.
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InwardContour
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July 29, 2014, 07:13:05 AM |
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Remember that the bitcointalk accounts can be bought and sold. Don't trust even the hero members but use always escrows if you want to trade something in the market.
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ScryptAsic
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July 29, 2014, 07:51:05 AM |
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I am new to Bitcoin's and looking to get into them. What is the main advice you wish someone would have told you when you started with Bitcoins?
Do not go into mining, you would regret..
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dothebeats
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July 29, 2014, 12:48:16 PM |
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Hello! Welcome to the world of bitcoin! There are few things you must keep in mind before you start using bitcoin. You must know the do's and don'ts of bitcoin. Do's 1. Always back-up your wallet 2. Stay away from shady offers and sites. These offers are usually the "too good to be true" offers that may end up scamming you. 3. Invest on what you can afford to lose. Don'ts 1. Never give your private key to others because, well, that's just a dumb move. 2. Do not try to scam others because in the end, you'll regret on doing it, 3. NEVER EVER INVEST EVERYTHING THAT YOU HAVE IN BITCOIN BECAUSE THERE ARE NO GUARANTEES THAT YOU WILL END UP RICH LIKE THE OTHERS. There are many other advice that I can give you but some are very technical to understand that I myself am confused to some of them. Remembering the simple steps on making yourself educated is a good start on using bitcoin. Good luck sir.
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bitsmichel
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July 29, 2014, 12:53:31 PM |
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Secure your computer Spend some time trying different wallets Backup your wallet Be careful sending money to strangers or websites Have a look in the services section on this forum for earning And finally, spend a lot of time on these forums, there is tons of information
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newflesh
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July 29, 2014, 02:35:14 PM |
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Trust nobody on the forum Wise to have a read of the bitcoin wiki and learn about computer security, generating secure paper wallets etc If possible have a dedicated pc for storing your bitcoin that's only connected to the internet when your making a transaction. Lastly, have a good read of this forum (especially the scam accusation sub-forum) to get a heads up on all the latest scams.
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ranochigo
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Crypto Swap Exchange
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July 29, 2014, 02:51:16 PM |
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Always use cold storage for large amounts of BTC. Secure it with a strong passphrase, keep backups over a few different locations. Be wary of dealing without escrows and dealing with untrusted members. Always try to use escrow for every transaction. Get a good anti virus for your computer and do regular scans. Do not download suspicious software's. Do not cloudmine, they will never ROI and can run away with your money.
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lynn_402
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July 29, 2014, 03:49:44 PM |
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I am new to Bitcoin's and looking to get into them. What is the main advice you wish someone would have told you when you started with Bitcoins?
Do not go into mining, you would regret.. Unless you mine with your main objective being to keep Bitcoin's network secure and decentralized; these kind of miners are important, or in the near future ASIC companies will represent the vast majority of Bitcoin's hashrate.
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Kprawn
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July 29, 2014, 04:09:39 PM |
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When you get into Bitcoin, look at it, as a long term investment and not a "Get rich quick scheme"
Do not panic sell, every time the price dip a little. Wait it out, and buy when the price is low. {Like with any other stock and shares you buy}
If you want to get into "mining" make sure you calculate carefully ALL options. {Cheap mining equipment, is not necessarily the best}
Do not waste your time on faucets, if you have skills or experience, you could sell for BTC.
Secure the largest portion of your BTCs in cold storage {Paper wallets}
Good luck.
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Tritek
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July 29, 2014, 04:27:40 PM |
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Try to use bitcoin as much as possible, try to understand as much well as possible, Get a bunch of bitcoins as your long term investement but also have bitcoins to spend when you need to, don't fall for scams as a lot of people try to scam where are new innovation like BTC or e- currency, just be careful and do all these thing with bitcoin.
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