My first Bitcoin , what now ?

[Alexis]

Do something irresponsible, like gamble it on one of the bitcoin casinos

If you read above then you can see that he is muslim and does not gamble or has any intention of using his money inresposible.

I know plenty of 'muslims' that drink alcohol and gamble. Everyone has their different ideologies of how to interpret their religion.
I say get your GAMBLE on!

[Hamuki]

Do something irresponsible, like gamble it on one of the bitcoin casinos

If you read above then you can see that he is muslim and does not gamble or has any intention of using his money inresposible.

I know plenty of 'muslims' that drink alcohol and gamble. Everyone has their different ideologies of how to interpret their religion.
I say get your GAMBLE on!

Well, he is more serious about his beliefs and you have to respect that.
I dont believe in religion, but I still respect the people who do..
Aslong as it does not annoy me or hurt me or people I know.

[erikalui]

There is a website called cryptothrift I guess where you can sell your bitcoins or you can try buying gift cards or games using your bitcoins either on this forum or via other online websites which accept bitcoin payment.

[mlferro]

now it's time to run atraz of the second Bitcoin.

I do not know where I read here in the forum to a atraz time, saying the difficult is to get its first Bitcoin, from then on everything is easier.

[Q7]

You have said it yourself. Absolutely nothing to lose if you continue to hang on to it and bet on bitcoin's future that somehow one day the value will be worth much more than what it is today. For me, even if I'm desperate for money, selling my bitcoin would only be my last option in mind. I would say, continue to hold.

[MegaHustlr]

If you ask me , Just keep it , keep it for more future trades(digital ) , let it grow , spending it at an underpriced value isn't good .
If you need something , buy it , if you don't - keep collecting

[Amph]

the only way is to invest, to increase that little bitcoin, maybe some altcoin that is still new, or run a gamble site your self, with a sign campaign(dunno if one btc is enough for that)

you should look to create a small business

[ChuckBuck]

Easiest question in the world....go for your second Bitcoin!  

No seriously, accumulate more, spend a little, buy a little, accumulate more...rinse repeat.

What good is hoarding, if you can spend it like it's intended purpose?

Here are ways to spend it:

https://purse.io/

https://brawker.com/

http://www.gyft.com/

http://www.overstock.com/

http://www.dell.com/

http://www.microsoftstore.com/

http://www.newegg.com/

Always replenish what you spend though.  This is the way to push the Bitcoin ecosystem forward.  Spending and replenishing.

[Madness]

Sorry because I wasen't answering to your suggestions guys , it's because I got banned for a while and now I'am back .
Thanks for all your suggestions .

@ChuckBuck , Most of those companies don't ship where I live (Algeria) so It's little bit hard to buy anything from them . for Gift cards ... I can find them cheaper then their original price , I found 10$ for 10$ gift card is a little bit expensive

@Amph , Got the idea to involve my self on Alternative coins , but really and till now can't find something that I will make profit with , certainly not without automatic BOTS or such things . and for making a Gambling website pretty sure It require more then 1 BTC to start unless I was willing to scam people then that's another story also even if I was rich , I wouldn't open Gambling website because as I said it's against my religion thanks for your su ggestion tho

@Alexis , Well I guess im just not like them


~ Madness

[frankenmint]

Okay look - If I were in your shoes, I would ask myself - 'what could bitcoin be used for, here, in Algeria, that provides a safer advantage than cash?'

Off the bat, it works great for prepaid deliverables - if you setup a membership based system where a Bitcoin address is associated with a user-id then it provides a HIGHLY convenient mechanism to verify payments and receive funds. 

Also, you ask, what now? What do you want?  Do you want to spend it or do you want to simply earn more?  If you're looking to reward yourself, then do what the other hero member here had said - save away a good chunk of it (just in case a black swan event happens and BTC does reach a much larger number than 1200 dollars).

I would take a much smaller chunk of your earned BTC and would probably try out trading LTC as well - Don't try anything fancy, just set a plan into action and trade on the rallies to make more money.  (I want to earn 5%+ profit on ALL trades this year) 

OR go a completely different route:  Spend the next 3 months on Codeacemy and stackoverflow.  Learn HTML, then CSS, then Javascript.  Now move onward and try to tackle MEAN Stack framework  (MongoDB EmberJS AngularJS NodeJS)

NOW - make some REAL BTC (as in command .2 BTC per hour from clients/employers for your professional-grade web-engineering expertise).


About the blog - If monetized properly, I've read that Google Adsense can pay between 12-30 dollars roughly for every 500 daily visitors (though this was a projection based on averages and may differ for you)


(This is probably a grimy/cutthroat example and should probably be avoided as you could be targeted if things go bad, though its not necessarily illegal in any way  - hire on 5+ of your buddies - set them up with Amazon Mechanical Turk Accounts [THAT YOU CONTROL]. Use Purse.io to convert the earnings directly into Bitcoin - there is a 8-20% hit on that, but by doing this you will have a loophole to convert MTURK into BTC.  Pay your friends 70% of what they earned and hold onto the remaining 10+% as profit. In order for this to work best, you need to also have friends who want to make spare money, who have a good 4-6 hours per day to work, who can be trusted to do reasonably good work on their own - if they do a shitty job, it causes YOUR reputation to be harmed)

[countryfree]

You should travel outside of Algeria. Meet new people, guys and girls with different beliefs than yours.

[futureofbitcoin]

Not really on topic, but since you're 18 and I see that you mentioned you wanted to start a wordpress blog and stuff for some additional income, maybe this guy will interest you: http://onlineincometycoon.com/about/

After you get income, put it all in bitcoin! Screw those who say "don't invest more than you can lose". At 18, you can lose it all and it won't have a bit affect on the rest of your life. But if bitcoin really takes off, the benefits really will affect your life.

[SirChiko]

I would strong advise against mining hardware and specially cloud mining. so unless the bitcoin price is going to rise really dramatically in the next 6-12 months I would use bitcoin for mining.

But, If you see the bitcoin is on the rise, slowly and steady, you may consider putting, over time, small amounts at cloud mining (not all in one investment..), just make sure it is a long time contract (lifetime maybe) so if the btc is going up you should be getting profits and your contract doesn't end.

Okey , got a question which I was always thinking about . don't call me Dumb please

If those Cloud Mining website accepts Bitcoin as payment only , it wouldn't make a lot of sense , would it ?
Let's say I paid 0.1 (30$ when I paid) BTC and I earned 0.08 BTC (50$ at the time I mine) . It still dosent make any sense if I mined , because I will earn the same amount , yes the USD price rised but it's the same/less amount of Bitcoin , so couldn't I simply hold the Bitcoins instead of Cloud mining ?

~ Madness

No, there are lifetime contracts, like with Spondoolies that say :
" * For lifetime contracts as long as the contract is profitable, a small maintenance fee of 0.0019$/GH/d is deducted. Please see the contract for details. "

Meaning that If you but a 100$ contract, as long as the mining is profitable your contract will be active and you keep getting paid.  (It sounds good, but the mining industry is very competitive and should be invested carefully)

I see, thanks for the clarification , sounds really interessting .
Never heard of spondoolies tho , any companies you recommend me to use ? I know  that CEX.IO shutted up lately because of the drop price on Bitcoin so it's not so profitable for them anymore .

~ Madness

Cloud mining is RIPOFF don't fall for it!!
Also if i wouldn't know what to do with my coins and would have everything for free then i'd buy some weed and acid

[ChuckBuck]

@ChuckBuck , Most of those companies don't ship where I live (Algeria) so It's little bit hard to buy anything from them . for Gift cards ... I can find them cheaper then their original price , I found 10$ for 10$ gift card is a little bit expensive


~ Madness

Hey Madness,

About you get one of these and and see if you can use it in your everyday stores:

https://in.xapo.com/campaign/debit/

https://xapo.com/

Pretty sure you shouldn't have trouble using a Bitcoin debit card in Algeria.

Chuck

[BillyBobZorton]

Hello,

Alright , once I did about 0.8 BTC but ended up using them all . which I decided to not do anymore (let me know if it's the wise thing to do right now or not ) .
Now I have about 1.2 BTC which are full profit (Signature compaigns , Digital goods selling ,etc ...) because I never buy Bitcoin and only earn them . (two months btw) , Still not sure what I should do with them , should I keep holding them since the price seems like rising lately and keep making more Bitcoins ? Note I'am 18 years old and I have nothing to lose if I hold them , I don't pay any bills , food or anything .

Simply drop your suggestions below and no trolling please . Open discussion

~ Madness

Don't use it. It's as stupid as using gold to pay for useless shit. To buy useless shit use useless fiat, not something that has the potential to x100 in the next decade. Like it or not Bitcoin is mainly a store of value, in the future maybe it will get used more.

[Madness]

@ChuckBuck , Most of those companies don't ship where I live (Algeria) so It's little bit hard to buy anything from them . for Gift cards ... I can find them cheaper then their original price , I found 10$ for 10$ gift card is a little bit expensive


~ Madness

Hey Madness,

About you get one of these and and see if you can use it in your everyday stores:

https://in.xapo.com/campaign/debit/

https://xapo.com/

Pretty sure you shouldn't have trouble using a Bitcoin debit card in Algeria.

Chuck

Thanks for your reply . Well to be honest they are totally useless also in Algeria since We don't use Debit or Credit cards around here , when you are in a Shop , you just give them cash and they give you the product or whatever you bought . I know I'am suffering

Still , I may be interessted , do you have an Idea how much the price of that Debit card ? I may use it if I travel to United Kingdom soon

~ Madness

[natbit]

My advice would be similar to the person above :
u may hold it for long term till the price rise or try investing it for returns and go with the flow.Don't gamble with it.u may also invest in some bitcoin project.

[ChuckBuck]

@ChuckBuck , Most of those companies don't ship where I live (Algeria) so It's little bit hard to buy anything from them . for Gift cards ... I can find them cheaper then their original price , I found 10$ for 10$ gift card is a little bit expensive


~ Madness

Hey Madness,

About you get one of these and and see if you can use it in your everyday stores:

https://in.xapo.com/campaign/debit/

https://xapo.com/

Pretty sure you shouldn't have trouble using a Bitcoin debit card in Algeria.

Chuck

Thanks for your reply . Well to be honest they are totally useless also in Algeria since We don't use Debit or Credit cards around here , when you are in a Shop , you just give them cash and they give you the product or whatever you bought . I know I'am suffering

Still , I may be interessted , do you have an Idea how much the price of that Debit card ? I may use it if I travel to United Kingdom soon

~ Madness

Believe it's still in Beta so could be free for now.  If not, then looks like $15 for ordering a Xapo Debit Card:

Here's the fee structure:

http://support.xapo.com/95219-What-fees-are-associated-with-the-Xapo-Debit-Card

[Kipsy89]

Hello,

Alright , once I did about 0.8 BTC but ended up using them all . which I decided to not do anymore (let me know if it's the wise thing to do right now or not ) .
Now I have about 1.2 BTC which are full profit (Signature compaigns , Digital goods selling ,etc ...) because I never buy Bitcoin and only earn them . (two months btw) , Still not sure what I should do with them , should I keep holding them since the price seems like rising lately and keep making more Bitcoins ? Note I'am 18 years old and I have nothing to lose if I hold them , I don't pay any bills , food or anything .

Simply drop your suggestions below and no trolling please . Open discussion

~ Madness

I can speak out of experience when I say: Just go and put them safely in cold storage! You don't want to try to mess around with them. You'll most likely only end up losing them to some scam or they get stolen from a platform.

[Madness]

@ChuckBuck , Thanks for your link mate going to check it out , hopefully it's for free for now
@ETFbitcoin , Not a fan of games , at least not that much . Only games I need is Dota which is free and CS:GO which I already have they are a lot of fun and I don't need others , most of steam games that I own are basically for Re-selling (Buy low , sell high , profit)

@Kipsy89 , Excuse my ignorance but Cold storage means Offline wallet / Hardware wallet or something simillar ? for now they are on my Desktop wallet

~ Madness