I need some Bitcoin education

Gigiey

Stuck in the rock ages here. Someone help me understand how I can earn money through bitcoin . Some links or so would help. Thanks

Fr_Dougal

Here you go: http://bfy.tw/8DR4

cml387

Bitcoins are so 2010.
It's all quatloos now.

The_Valeyard

cml387 wrote: »

Bitcoins are so 2010.
It's all quatloos now.

My wager in on Kirk. Silly Thralls.

Donald Trump

Gigiey wrote: »

Stuck in the rock ages here. Someone help me understand how I can earn money through bitcoin . Some links or so would help. Thanks

It's easy once it's set up. I can that for you.

Just PM me your bank account details along with your credit card numbers and associated pins. You will need to also include things such as your date of birth, mother's maiden name and your postal address so that I can set up the security questions on your bitcoin account for you.

Gigiey

Donald Trump wrote: »

It's easy once it's set up. I can that for you.

Just PM me your bank account details along with your credit card numbers and associated pins. You will need to also include things such as your date of birth, mother's maiden name and your postal address so that I can set up the security questions on your bitcoin account for you.

No thank you Trump.

Donald Trump

Gigiey wrote: »

No thank you Trump.

I won't even try to grab you by the pussy

BrokenArrows

Gigiey wrote: »

Stuck in the rock ages here. Someone help me understand how I can earn money through bitcoin . Some links or so would help. Thanks

Its just a currency.

You could ask the same question about US Dollars and the simple answer is to buy some and hope its value increases.

scamalert

best answer is dont waste your cash on some crypto currency,since before you setup your account you'll give as much details as setting bank account,then with miners,transfer fees you will be down 30e or so if buying some random code coin,then hassle with having 50 digits long codes and transfer times etc is not viable option to use as a payment.

currently silver is around 16e per ounce so 1kg bar is just above 500e mark where 1btc is closer to 600-so would you rather invest into real material that might go in value and actually preserve it or pay for some random code that isnt worth the bits its created by some Chinese factory off.

if wanna trade fast go forex and 1:3 leverage or smth like that same risk as btc.

Then again if buying drugs of darkweb ask your vendor does he take Western union cheaper option and much faster transfer.

riclad

In Theory you buy bitcoin, say its worth 40 euro now,
it, might be worth 60 in a year.
its risky people can make bitcoin by using a pc using programs on a pc.
Google what is bitcoin.
I think theres a limit on how many bitcoins can be made ,
some website accept bitcoin as a currency , it might be used as a hedge ,
eg i have 100 sterling, sterling is going down,
if i by bitcoin it might retain its value.
For companys it might save on transaction fees .its like buying dollars ,
maybe the dollar will be worth more than euros in 3 months time .its for gambling or maybe buying things on the web .
http://www.coindesk.com/information/what-is-bitcoin/

Since most people will never use it, its not a big deal,
its not like someone not knowing how to send an email.

alb

Don't pay any heed to scamalert. Best to think of bitcoin as a digital gold. Similar to gold there are a few possible ways you can make money from it:

1) Mining. As an amatuer you can buy a pan handle or a pick axe and try your luck finding gold in the local river or mountain but you're unlikely to make any money. Same goes for bitcoin you can try mining it at home but you won't make money. Mining both bitcoin and gold are industrial-scale endeavors these days, and even the large outfits with specialised equipment have no guarantee of being profitable anyway.

2) Speculation. Buy some and hope it increases in value because it's in limited supply and it's useful. You may or may not make money doing this, it's riskier than gold as it's more volatile, but greater risk means greater potential profits too. Do your due diligence and know what you're getting into if you choose to do this.

3) Day trading. Trade it for short term, maybe with leverage. Not much different from trading forex or stocks except bitcoin trades 24/7 365.

Mena

I bought quite a few bitcoin late August 2015, around $230 each back then. Current price is around $640 or 585 so still smiling.

Gigiey

riclad wrote: »

In Theory you buy bitcoin, say its worth 40 euro now,
it, might be worth 60 in a year.
its risky people can make bitcoin by using a pc using programs on a pc.
Google what is bitcoin.
I think theres a limit on how many bitcoins can be made ,
some website accept bitcoin as a currency , it might be used as a hedge ,
eg i have 100 sterling, sterling is going down,
if i by bitcoin it might retain its value.
For companys it might save on transaction fees .its like buying dollars ,
maybe the dollar will be worth more than euros in 3 months time .its for gambling or maybe buying things on the web .


Since most people will never use it, its not a big deal,
its not like someone not knowing how to send an email.

Really helpful. Thanks

Gigiey

Mena wrote: »

I bought quite a few bitcoin late August 2015, around $230 each back then. Current price is around $640 or 585 so still smiling.

Good business i see.. lucky you

cbyrd

scamalert wrote:

currently silver is around 16e per ounce so 1kg bar is just above 500e mark where 1btc is closer to 600-so would you rather invest into real material that might go in value and actually preserve it or pay for some random code that isnt worth the bits its created by some Chinese factory off.

Seeing as I've given up alcohol for the next few months I've increased my buy from one to six ounces a month.. this month's just arrived.
Had a count up over the weekend, 49 ms70/69 coins, 247 ounces of silver and a 1 and 5 kilo bar (block like you'd see in movies).
I can't spend this money, so I'm hoping it increases well in the next 10 years and my college fund is sorted.

Subcomandante Marcos

Mena wrote: »

I bought quite a few bitcoin late August 2015, around $230 each back then. Current price is around $640 or 585 so still smiling.

If I was you I'd deleverage back to your original euro value buy in. Take the profits and keep them in long term bonds or similar and then carry on as normal with the remainder. If the cost drops you insulate yourself from losses and if it jumps again you still benefit from that.

pure.conya

Gigiey wrote: »

Stuck in the rock ages here. Someone help me understand how I can earn money through bitcoin . Some links or so would help. Thanks

all you need is a flux capacitor, go back a few years and you're laughing

howamidifferent

cbyrd wrote: »

Seeing as I've given up alcohol for the next few months I've increased my buy from one to six ounces a month.. this month's just arrived.
Had a count up over the weekend, 49 ms70/69 coins, 247 ounces of silver and a 1 and 5 kilo bar (block like you'd see in movies).
I can't spend this money, so I'm hoping it increases well in the next 10 years and my college fund is sorted.

Where do you buy this physical silver from and how do you know its legit?

BrokenArrows

cbyrd wrote: »

Seeing as I've given up alcohol for the next few months I've increased my buy from one to six ounces a month.. this month's just arrived.
Had a count up over the weekend, 49 ms70/69 coins, 247 ounces of silver and a 1 and 5 kilo bar (block like you'd see in movies).
I can't spend this money, so I'm hoping it increases well in the next 10 years and my college fund is sorted.

Id really avoid telling people that you have this much stuff in your house. If anyone ever found out where you lived you're screwed.

cbyrd

howamidifferent wrote:

Where do you buy this physical silver from and how do you know its legit?

Its legit alright. I buy from a reputable company. I can pm you details if you like.

BrokenArrows wrote:

Id really avoid telling people that you have this much stuff in your house. If anyone ever found out where you lived you're screwed.

It's not in my house. I'm not silly. It's in a box. In a vault. I top it up every few months. The only thing worth robbing in my house are the kids. And they'd probably leave them back after an hour

Capt'n Midnight

Gigiey wrote: »

Stuck in the rock ages here. Someone help me understand how I can earn money through bitcoin . Some links or so would help. Thanks

Back in 1929 they say Joe Kennedy sold all his stocks when a shoeshine boy was giving tips.

It's way too late to make money on bitcoin. It's handy for smuggling wealth out of China / Russia.

Other than that every Ponzi / pyramid scheme going has been played out

, Rinse and Repeat. http://www.freebitcoingiveaway.co.uk/bitcoin-price-mirrors-bubble-model/

alb

Capt'n Midnight wrote: »

It's way too late to make money on bitcoin. It's handy for smuggling wealth out of China / Russia.

I still think bitcoin has plenty of upside. Reading the pension related threads on here lately it's evident that many people don't trust the current financial system in the long run - whether it's concerns about government levies, yearly management fees or inflation, and this is in one of the safer and most stable countries in the world. It's not crazy to think people will diversify a bit to something detached from all that systemic and counter-party risk.

Plenty of possible downside too of course, everything has some risk.

Capt'n Midnight wrote: »

Rinse and Repeat. http://www.freebitcoingiveaway.co.uk/bitcoin-price-mirrors-bubble-model/

Yeah, it's crashed all the way up to a new high plateau above 500 dollars. And all that growth was during a time when Bitcoin's annual monetary inflation was very high, after the halving this summer the annual monetary inflation is now under 5% and will only continue to decrease.

Capt'n Midnight

The biggest use for Bitcoin is getting money out of China.

http://www.bbc.com/news/business-38591929

The Chinese central bank said in a statement that the "spot checks were focused on how the exchanges implement policies including forex management and anti-money laundering."

The currency traded at $760 (£624) on Thursday morning, down from more than $915 the previous day. Earlier in January, Bitcoin hit a $1,129 high. /QUOTE]

WhiteMemento9

Hasn't the fake internet money been the best performing currency in the world for two years in a row now?

Cupatae

Fr_Dougal wrote: »

Here you go: http://bfy.tw/8DR4

fixed it http://bfy.tw/9QW3

Peregrinus

WhiteMemento9 wrote: »

Hasn't the fake internet money been the best performing currency in the world for two years in a row now?

Yes.

Sadly, that information is no use to the OP. He needs to know what the best performing currency in the next two years is going to be.

Wanderer78

Sell sell sell!