# Anyone end up investing in Bitcoins? **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [October 21, 2013, 8:34pm UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431 "2013-10-21T20:34:08Z")\ **Posts on this page:** 20\ **Page:** 10
**Author:** ![LZ1](https://avatars.discourse-cdn.com/v4/letter/l/7ab992/32.png) [@LZ1](https://forums.speedlife.net/u/LZ1)\ **Post date:** [November 20, 2017, 10:45am UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/181 "2017-11-20T10:45:25Z")
Once you buy like 3k it ups your weekly limit ---
**Author:** ![rugsr](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/rugsr/32/7474_2.png) [@rugsr](https://forums.speedlife.net/u/rugsr)\ **Post date:** [November 20, 2017, 10:59am UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/182 "2017-11-20T10:59:22Z")
F me…bitcoin at 8k and climbing smh when i made fun of it in 2013 [#crying](http://www.nyspeed.com/usertag.php?do=list&action=hash&hash=crying) ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [November 20, 2017, 1:09pm UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/183 "2017-11-20T13:09:36Z")
yo we need @boxxa back here… anyone know him off line? ---
**Author:** ![llink78](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/llink78/32/8037_2.png) [@llink78](https://forums.speedlife.net/u/llink78)\ **Post date:** [November 20, 2017, 2:18pm UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/184 "2017-11-20T14:18:34Z")
> [@bing](#): > > yo we need @**[boxxa](http://www.nyspeed.com/member.php?u=2593)** back here… anyone know him off line? He’s prob busy being a millionaire. ---
**Author:** ![LZ1](https://avatars.discourse-cdn.com/v4/letter/l/7ab992/32.png) [@LZ1](https://forums.speedlife.net/u/LZ1)\ **Post date:** [November 20, 2017, 2:26pm UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/185 "2017-11-20T14:26:03Z")
I can tag him on FB…I don’t think he is worth millions yet. ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [November 20, 2017, 4:14pm UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/186 "2017-11-20T16:14:44Z")
Ron Paul is doing Bitcoin IRA commercials now… ![https://i.imgur.com/GVFbI3L.gif](https://i.imgur.com/GVFbI3L.gif) ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [November 20, 2017, 8:02pm UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/187 "2017-11-20T20:02:57Z")
> [@LZ](#): > > I can tag him on FB…I don’t think he is worth millions yet. do this please ---
**Author:** ![ubengineering](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ubengineering/32/5171_2.png) [@ubengineering](https://forums.speedlife.net/u/ubengineering)\ **Post date:** [November 20, 2017, 8:44pm UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/188 "2017-11-20T20:44:42Z")
@rugsr all depends on what’s in your account. You can increase it by verifying your identity, or by waiting the grace period. ---
**Author:** ![boxxa](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/boxxa/32/5045_2.png) [@boxxa](https://forums.speedlife.net/u/boxxa)\ **Post date:** [November 21, 2017, 6:30am UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/189 "2017-11-21T06:30:00Z")
Hahah hi. Not millions. I buy and sell but am up from the latest buy at $600. ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [November 21, 2017, 7:43am UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/190 "2017-11-21T07:43:13Z")
> [@boxxa](#): > > Hahah hi. Not millions. I buy and sell but am up from the latest buy at $600. bro, you’ve been tagged like infinity times and you give us a couple sentences??? SPREAD YOUR WISDOM!!! ---
**Author:** ![boxxa](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/boxxa/32/5045_2.png) [@boxxa](https://forums.speedlife.net/u/boxxa)\ **Post date:** [November 21, 2017, 9:31am UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/191 "2017-11-21T09:31:55Z")
What wisdom do you want? I told people to buy for the last few years. haha ---
**Author:** ![LZ1](https://avatars.discourse-cdn.com/v4/letter/l/7ab992/32.png) [@LZ1](https://forums.speedlife.net/u/LZ1)\ **Post date:** [November 21, 2017, 9:54am UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/192 "2017-11-21T09:54:38Z")
> [@boxxa](#): > > What wisdom do you want? I told people to buy for the last few years. haha Who has a time machine?? ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [November 21, 2017, 10:16am UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/193 "2017-11-21T10:16:33Z")
---
**Author:** ![boxxa](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/boxxa/32/5045_2.png) [@boxxa](https://forums.speedlife.net/u/boxxa)\ **Post date:** [November 21, 2017, 11:02am UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/194 "2017-11-21T11:02:14Z")
**Here is my Boxxa Bitcoin Pointers. Take them as you wish.** **1) You don’t need to buy 1 full Bitcoin.** You can buy down to 0.00000001 which is $0.00008285 so don’t think the $8200 entry is a barrier. **2) It is not too late to buy if you are bullish on it and understand the point of it.** The biggest thing is they missed the wave but look at any hyper growth companies. Amazon, Apple, Facebook… any of them had very cheap prices and kept growing. How many people didn’t buy because they missed the growth? Also, Bitcoin is speculative and very early. it is not used regularly and has not found a purpose. I have been saying for years it will be used as a settlement network between banks since it can be low cost or another larger store of value similar to gold but since it is divisible into 8 decimals, you can break it down where as a block of gold you can’t suddenly take to a store and expect to buy a carton of milk with it. Lastly, the hyper growth of a digital commodity is also a sign of less faith in fiat and the current financial systems around the world. **3) Unless you are a day trader, don’t trade it. Just buy and hold.** It is very volatile. If you are not trading it regularly and watching moves, your misses will cost you more in the long run. Think of it as trying to trade penny stocks instead of buying a S&P500 minis for example. You may make some money but you may also have been better off just buying and holding a larger index instead of trying to play the swings. **4) What if it gets hacked?** Hacks in the news are related to websites being hacked. If you run the Bitcoin wallet on your computer, you are at risk of viruses and other things that could steal your info so computer security is key. See below for online wallets. If you do build a larger wallet, you can get things like a Trezor hardware wallet from [https://trezor.io/](https://trezor.io/) which allows you to secure them offline like in a safety deposit box. **5) Where do I buy it?** In the US, Coinbase is the go to. It is the most legit but they do have fees. You can schedule recurring buys and build your account there and they do have some features like a vault so you can lock your coins and require delays to move them. Here is a referral.[https://www.coinbase.com/join/516eeaef06d66de495000013](https://www.coinbase.com/join/516eeaef06d66de495000013) **6) Is it legal?** Yes. It is taxed similar to trading commodities and financial gains. If you are buying now and not day trading, buy and hold and don’t chase short term gains. ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [November 21, 2017, 11:50am UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/195 "2017-11-21T11:50:17Z")
Cool stuff 👏 ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [November 21, 2017, 12:35pm UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/196 "2017-11-21T12:35:01Z")
Thanks @**[boxxa](http://www.nyspeed.com/member.php?u=2593)**. I wholly agree with ([2](http://www.nyspeed.com/usertag.php?do=list&action=hash&hash=2)) vs. gold and in general. I assume you are taking in advanced media / discussion on crypto. What are the anticipated sources of demand for the various crypto currencies? Other than BTC, what are you thoughts on Etherium, ripple etc. Honestly, i’d like to know your thoughts on anything going down this list: [https://coinmarketcap.com/](https://coinmarketcap.com/) what is bitcoin cash? yeah. ---
**Author:** ![boxxa](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/boxxa/32/5045_2.png) [@boxxa](https://forums.speedlife.net/u/boxxa)\ **Post date:** [November 21, 2017, 1:16pm UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/197 "2017-11-21T13:16:09Z")
> [@bing](#): > > Thanks @**[boxxa](http://www.nyspeed.com/member.php?u=2593)**. > > I wholly agree with ([2](http://www.nyspeed.com/usertag.php?do=list&action=hash&hash=2)) vs. gold and in general. > > I assume you are taking in advanced media / discussion on crypto. What are the anticipated sources of demand for the various crypto currencies? > > Other than BTC, what are you thoughts on Etherium, ripple etc. Honestly, i’d like to know your thoughts on anything going down this list: [https://coinmarketcap.com/](https://coinmarketcap.com/) > > what is bitcoin cash? > > yeah. 1. I will say my issues with gold and similar to fiat is we see the supply being moved and changed. We can print money. We also find out that countries have more gold then they say they sell on markets and cause the store of value to be manipulated. Also, lets be real. In the next 10 years, we don’t know what the market is going to look like. We could find a bunch now that we can drill into the Arctic, we have companies working on mining asteroids, and again the divisible feature of it is hard. 2. Not sure what you mean by this: I assume you are taking in advanced media / discussion on crypto. 3. What I think long term and what I think short term will differ. I don’t call prices since markets flow to take this with a grain of salt. Lots of coins follow bitcoin movements for no reason. Also, be care with Coinmarketcap. Lots of coins have tokens and others locked up so market values seem a bit inflated. **Ripple** is centralized. They have done some shady stuff with their network so I don’t follow it that much with central control. There is hundreds of others that do different things and have different aims. Most are just clones with different rules and share the same technology so over all, most will eventually die out. ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [November 21, 2017, 1:24pm UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/198 "2017-11-21T13:24:02Z")
> [@boxxa](#): > > **Litecoin** is just faster bitcoin. Could be a day to day payment network in the future but not much adoption. By faster, do you mean a way to buy /sell / transact more quickly? The lag in buying and selling always had me less interested. Coinbase says they have an “instant exchange” for buying and selling, but is it really? ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [November 21, 2017, 1:33pm UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/199 "2017-11-21T13:33:24Z")
> [@boxxa](#): > > 1. Not sure what you mean by this: I assume you are taking in advanced media / discussion on crypto. all i meant is that you follow it more closely and therefore privy to more advanced discussions on crypto and where it’s going. basically i just want a sounding board for crypto who is following it as hard as i am following weed stocks. ---
**Author:** ![boxxa](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/boxxa/32/5045_2.png) [@boxxa](https://forums.speedlife.net/u/boxxa)\ **Post date:** [November 21, 2017, 5:38pm UTC](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431/200 "2017-11-21T17:38:02Z")
> [@Onyx Z32](#): > > By faster, do you mean a way to buy /sell / transact more quickly? > > The lag in buying and selling always had me less interested. Coinbase says they have an “instant exchange” for buying and selling, but is it really? The network. For a transaction to be official and confirmed, it gets included into a block. Bitcoin aims to be 10 minutes apart. Litecoin is 2.5. Buying and selling is slow. Coinbase does have instant but it’s extra fees. If you do a bank wire, you get the rate when you buy, not when it finally clears which is good. - - - Updated - - - > [@bing](#): > > all i meant is that you follow it more closely and therefore privy to more advanced discussions on crypto and where it’s going. > > basically i just want a sounding board for crypto who is following it as hard as i am following weed stocks. gotcha. I follow the tech but my altcoin knowledge is limited. I’m mostly a bitcoin purest right now until something shows promise as a day to day currency but we have a while in my opinion. [Previous page](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431.md?page=9) [Next page](https://forums.speedlife.net/t/anyone-end-up-investing-in-bitcoins/233431.md?page=11)