I’m actually glad that you don’t seem to know what this is all about. It validates my recent dip buy, lol
If normally well-informed people still don’t fully understand the value of this then there must still be room for it to grow. Myself included.
Think of it as the ultimate Libertarian currency. Ron Paul is all about it. It’s actually similar to a commodity like gold. There is no central bank fucking with it.
Someone on the news today (no clue who, I wasn’t looking at the TV at the time) actually suggested that he wouldn’t be surprised if an entire country at some point made Bitcoin their national currency.
Search for “Bitcoin super tax haven” and take a look around.
Scarcity is driving up prices. Also the fear as counties fiat systems have been exposing their financial weakness, it is a hedge similar to how people buy gold. Look at these two charts and you can see why people are getting smart.
Its cost based so if you made a transaction in Bitcoin, you would mark the value of the items in USD to pay taxes essentially. Lots of payment processing companies convert it to USD right away, smart companies who have more liquid cash are holding it and essentially making double profits.
Already starting. Countries are trying to ban cash for more monitoring and control. Bitcoin won’t be a day to day currency in my opinion as there will be a new walking around currency but using the similar technology. I am still predicting Bitcoin is more a remittance or settlement network between banks even though there is a lot of push for more real time technologies to handle things like micro transactions and going from block confirmations to using secure channels that are instant confirmation of payments. I moved a lot of my Bitcoin into a currency that basically does this and has some big backings by IBM last month. You can see it has been in a accumulation stage the last month and a half.
the more the various states / countries try to crack down on BTC and its contemporaries the more it will drive the value.
decentralization is the key and the anonymity that can go along with it.
i dont think you should wait until you fully understand it before putting a few bucks in.
i’ve only put a few hundred in and it is up up up in 2 weeks better than nearly any other asset class. the volatility should only be worrisome if you can’t afford to lose the money. In which case you shouldnt be ‘investing’ anyways.
Coinbase is more anal about security than any account I have. I had to send them my license picture back to back, take a selfie, etc. Can’t login without a code being sent to your phone (two factor authentication).
No bank account needed to sign up and buy, but if you want to move money back to your bank you’ll need to add it. Looks like you can buy with a credit card instantly instead of waiting for settled cash, etc.
sooo with out reading through 14 pages…lets say i had a few grand laying around and wanted to buy some bit coin what should i do, and im not looking to get solicited to be in some ponzi scheme to get under someone else then have to get people under me, i feel like a few people have reached out to me in a similar matter just looking for the facts or a good article to read …yes im being lazy
If they were just talking about Bitcoin, that’s fine. It’s not a referral program (though on coinbase if you refer someone you get 10$ big fucking deal unless you’re a popular youtuber) There are referral coins such as bitconnect and I can’t remember the other ones, but those have been flagged as scams in the community.
If you wanna start, go to coinbase.com and sign up and link up a bank account/credit card.
Also @bing@LZ1 my coinbase limit was 7.5K and then went to 4K lol idk how the fuck they do shit. But either way I only invest roughly 600$-1000$ a month.
