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How and why should we buy BitCoins?

Posted: Mon Nov 27, 2017 11:48 am
by BTC beginner
I have started to trade Bit Coins a few months back and already realized that there is so much to learn.
I hope this column can be used to share knowledge between us retail investors as the learning curve is steep and the knowledge is vast and growing ever faster.

Here is something I personally learned recently:
I have found that buying Bitcoin is the easiest through an exchange.
One of them I use is https://www.quadrigacx.com/?ref=io0yz7x ... hcjrfpghud

Compared to using ATMs the fee is much lower. Believe me if you had tried to buy BTC from more than one ATMs you would notice that the fee is high and vary a lot between locations.

When there was a folk such as Bitcoin Gold distributed on Oct 24 2017 and Bit cash sometime in the past the exchange just took care of it. They just showed up in the account. I didn’t need to scan bar code or download another wallet just because the previous ones did not have the type of crypto currency. It is not trivial effort trying to stay current. Why not just leave it to the exchange.

There are concerns about keeping BTC in the exchange not being safe. They are valid and if you do have a large balance then the effort of moving BTC to paper wallet will be worth it.

Re: How and why should we buy BitCoins?

Posted: Mon Nov 27, 2017 1:19 pm
by Mad BitCoiner
Apart from calling a "fork" a "folk" I think you are mostly right.
I also think QuadrigaCX is one of the best.
There is a lot to learn and it's hard to know what will "catch".
I would like to know which of the many new coins have good reasons to survive.
I feel there are just too many and most will just die.
If anybody has insight into this, please share.

Re: How and why should we buy BitCoins?

Posted: Fri Dec 01, 2017 10:34 am
by coin toss
John McAfee predicts bitcoin will reach $1 million by the end of 2020, double his previous forecast along with some daring remark including “or I would eat my **** on national television.”
Details here:
https://www.cnbc.com/2017/11/29/james-a ... -2020.html
Talks about wild confidence!
Wonder if it is on solid ground

BitCoins for low risk investors

Posted: Tue Dec 12, 2017 12:24 pm
by savers
Interest rates have been so low for so long. We savers are being forced to look all over the place. Why should we be left out, just because we are responsible? Since when being responsible is not being rewarded and instead punished?

When low risk investors start to buy into riskier investments.
It's just not about the money any more. It's psychologically challenging.

What is wrong with Bitcoin? You can't eat your bonds, mutual funds, ETF's either.

Why not have a small percentage of it in your portfolio?

Re: How and why should we buy BitCoins?

Posted: Tue Dec 19, 2017 3:31 pm
by Coinbase
Other ways to play it:
  • There is a trust - GBTC。 Not for the faint of heart and also not in-sync with actual Bitcoin price.

    Futures contract on Chicago Board Options Exchange was launched on Dec 10, and resulted in re-filings of futures-based bitcoin ETFs. Can long or short

Re: How and why should we buy BitCoins?

Posted: Fri Feb 02, 2018 4:49 pm
by fast2
Bitcoin is melting. It dropped more than 50% in the last few days.
Analysts are even calling it to cause a global financial meltdown.

The after math has made it even clearer that you should only buy it consistently all the time. Set a schedule and stick with it. It’s the only way because on one knows what is going on.

Can be 100$ each month or 200$ biweekly through an exchange depending on your situation.

Will it keep going down, maybe? But if you do the time average you could care less.
The saying is always “It Will Get Much Worse Before It Gets Any Better”

Why should you bother? So you don’t
1 Regret not buying at all
2 Regret buying at the wrong time
3 Regret not selling when it was higher
4 Regret not buying more when it was lower

Have 5% of your portfolio in crypto currency just like you should have 5% in Gold. True diversification goes beyond stocks and bonds.