Bitcoin and others

Discussion in 'Bitcoin and Cryptocurrency' started by TRT, Jul 2, 2017.

  1. TRT

    TRT Member

    Hope this is in the right place.

    So, I don't know much about them but willing to learn. From what I know and understand is that 1 Bitcoin is $2,300+ dollars currently. If I had bought Bitcoin in the very beginning then the Bitcoin I bought would have been lets say $100 per Bitcoin and I would have made $2,200 for every $100 I invested? Correct? Or am I having to buy into the stock?
    I ask because other ones might get big also after sees what they offer. There was Myspace but then came Facebook.
    So I'm trying to make a good first investment.
    Like I said before I don't know anything about this but I learn very quickly so lay it on me guys!
     
  2. colossus25

    colossus25 Member

    Thats right. I had bought bitcoins back in the day for less than 60 bucks, forgot i had a couple left and went back and checked they were worth almost a grand each.
     
  3. TRT

    TRT Member

    That's awesome. Are there any others out right now that I could check out that might be worth investing in?
     
  4. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

    I think the bitcoin train has left the station bro...im researching litecoin...theyre about $40 bucks or so at the moment
     
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  5. colossus25

    colossus25 Member

    Ethereum has been a bit unstable lately so i would wait on that. Litecoin and ripple are suppose to be doing well now. The guy to really ask is @pumpingiron22
     
  6. pumpingiron22

    pumpingiron22 Member AnabolicLab.com Supporter

    It's never to late 21 million BTC. That can be broken down to decimal. One Bitcoin could go up to the millons. They only way to miss the train is to never get on. But yes there are other Crypto that are amazing and great to invest in.
    I think people forget to look at it as a digital currencie. One day you will not buy Crypto but you will work for it. That's when it will become amazing! Unfortunately some are just looking to get rich quick. And trade it in for cash paper Dollars? Defeats the whole purpose. Just reamber it not about what you earn it's what you save for the long haul
     
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  7. pumpingiron22

    pumpingiron22 Member AnabolicLab.com Supporter

    Buy yes trading and diversing you can make alot of money
     
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  8. TRT

    TRT Member

    I was just using bitcoin as an example. I'm down to investing a couple hundred.
    If there are other ones then I'll check those too.

    What I'm basically trying to do is look at services like Bitcoin and seeing if it's something that might take off or increase in value.
    What kind of features does it have? Is it to technical for users like a lot of baby boomers to use. Who uses these services more and is it appealing to them?
     
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  9. colossus25

    colossus25 Member

    Bitcoin is predicted to hit close to 5k by the end of 2018.
     
  10. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

    No I know...Im very new to Bitcoin myself. Im reading about it on other sites trying to process and hopefully get a grasp on it. With that said, @pumpingiron22 made a good point above...several actually. Im 35, I have several bank accounts, one primary savings. I think i am going to dip into that account slightly and roll the dice with $550...like he said, saving for the long term is key. In other words, I find all this fascinating....to say the least..
     
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  11. colossus25

    colossus25 Member

    Im like @pumpingiron22 i dont touch my bitcoins. Im just sitting and waiting patiently.
     
  12. pumpingiron22

    pumpingiron22 Member AnabolicLab.com Supporter

    Eth ltc dash Dcr. Are all good investment as well as Z-Cash
     
    TRT likes this.
  13. TRT

    TRT Member

    So I guess I'll invest in Bitcoin and look into some others. I'm sorry. I didn't mean to make it sound like that...I GOING to invest some money into Bitcoin and others.
    I appreciate the feedback all of you have given me and I'll do a little more research for a week or so before I make a move.

    You guys got any other things your investing in or have in the past? Any bad ones or good one one?
     
  14. Dema

    Dema Pharmacom Rep

    I got about 1k in multiple different alt coins... Mainly eth for long term and ripple... Then a ton of new ones hoping they become a $1 coin...

    Starting to learn the pump and dump schemes to try and ride those....
     
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  15. Mrhat39

    Mrhat39 Member

    What exchange do you use. Every thing I have seen on selling, I can't seem to find a place that is fast, will reasonable fees, to sell my coins with.
    At least not for the purpose of day trading.

    Mrhat
     
  16. Dema

    Dema Pharmacom Rep

    Bittrex
     
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  17. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

    Would it make any sense to trnasfer a small amount of litecoin out of my coinbase wallet? Ive read electrum ltc is a top rated wallet to store it in but if coinbase insures up to $250K, is there a point to move it out of there?
     
  18. Dema

    Dema Pharmacom Rep

    It's always smart have have mulitple wallets.... I persoanlly have 3... Don't put all your eggs in one basket
     
  19. JayGunz

    JayGunz Junior Member

    If you are looking to "get on board" a crypto currency early, Ethereum is the way to go, but like Collossus said, it's pretty unstable right now.

    As for the wallet, keeping your Bitcoin in an exchange wallet is risky in that NO crypto currency is or ever will be insured by the FDIC. Most if not all exchanges are actually private companies, meaning if they go under, you go with them. Google Mt. Gox for an example.

    That isn't to say there aren't benefits to keeping it there. Transferring to a private wallet (Electrum is my choice by the way) will cost you in terms of fees.
     
  20. TRT

    TRT Member

    Keep it coming guys.