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Discussion in 'Technology' started by PluginDevs.net, Jun 20, 2016.
Do you use bitcoins, experiences?
Is it a good idea to invest it now ?
Heard that it's very unstable
(No actual experience for me)
Bitcoin is a giant pump-and-dump scheme that is bad for the environment.
I like the idea but iam not sure if i should buy a btc.
1 BTC is about 650€ o.0 a couple of months befor it was about 300€ ...
why is it bad for the environment ?
It utilizes massive amounts of electricity
ohh u mean the bitcoin mining.
Thats true : /
Told ye it's unstable xD
which makes it interesting
It is interesting to read this discussion today. I've just found this thread and decided to add my answer, so sorry for disturbing it. As for the question about time for investment, I can recommend to look through the cryptocurrency news sites. I started using Bitcoin not long ago, I have recently surfed the Internet in the hope to find good sources to improve my knowledge and found such sites to be helpful. I should say, they are pretty good and help me to stay aware of the latest events on the cryptocurrency market.
Invest in Bitcoins. Wait 10 years and become rich. Easy
You should be so LUCKY !!!
I have seen this topic mentioned many times over the 25 years or so, and I remain sceptical.
Someone always pays the banker !
At best, if everyone made an apparent gain, World inflation would rocket !
Therefore, any NET gains would be negated as everyone would be paying out increased living costs !
In summary, if it seems too good to be true, it probably is !
Bitcoins wont generate any more in year 2021. That mean it will become like gold. Price will slowely increasing.
The bitcoin market is pretty niche, and most people don't invest into bitcoin itself anymore since it has been fluctuating between 8k-11k for a few months. Not a great experience from when I invested, even though I made money.
Pardon my english
It was someone from Spigot, they made a thread couple years ago about their success in investing in ETH very early, pre-microsoft partnership news and selling it all around ~$370. I will forever thank him because i've went just about all-in after reading his success story thread here & made life changing gains. It was just shortly couple months after, the 2017 mania happened and I made a stupidenous amount of money.
It definitely was not easy though. I was at least in 10+ telegram groups dedicated to trading BTC, always throwing money at every ICO hype from the bitcointalk forums, and i've registered on over like 15 exchanges, I had money everywhere. Staying up almost every night monitoring it gets real frustrating but it all paid off fortunately.
BTC striding from 4k to 20k felt like once in a lifetime thing but funny enough, it almost did the same thing this year, Except it touched 3k and ran up to 14k! now it's currently settling down. IMO it's going to go further down because it literally has been going up for the past couple months, it's time for it to settle down.
This market is definetely manipulated but only because the BTC market is still in its infancy stage, so it doesn't take much money to make the price move (insane volatility). But the philosophy of BTC has exponential potential -- it hasn't even been around that long and look at its price!
The naysayers that talk down about Bitcoin are usually victims of FUD / fake news, or just can't comprehend the tech nor the philosophy of BTC. In my opinion, do not get discouraged by those people because you will miss an opportunity of a lifetime.
With that said, take every advice with a tinfoil hat on and do your own research, don't invest into something that you have no understanding of
Personally I lost quite a bit of money through crypto (granted it wasn't just bitcoin). And I think the market is pretty bad ATM
When I first got a hold of some Bitcoin, I didn't invest, I mined.
The price was $20-$40 per bit coin, despite official docs stating that it was intended to have a value of ¥1 (Japanese Yen) (~0.0083 Euro). There were almost no coin exchange services, you had to find stores that took bitcoin directly to buy anything, and the only thing I felt comfortable buying were digital goods.
Coin exchanges started to pop up, 10's of millions of dollars would get poured into them, then suddenly and without warning their site would go down, and you would never hear from the company or your money again, and the price of bitcoin plummeted to $0.40-$4 depending on where you were shopping.
New coin exchanges pop up, people became actively trading again and prices sky rocketed up to $100-$300 a coin, 10's of millions of dollars would get poured into them, then suddenly and without warning their site would go down, and you would never hear from the company or your money again.
The price would plummet, then the processes would just repeat.
Open shop,interest in Bitcoin increases value. Take the money and run would make it drop. New shops have old investors expecting to make their losses back, so the price always became multiples higher than it was before.
This happened many many times, and is why I would not recommend you "invest" in Bitcoin, but if you were willing to gamble $100 dollars back when it was $20 a coin, that would mean you could try and cash out today at $36,710.
Understand it is a risky pyramid scheme, but if you don't care about scheming and just want to grab some fast cash, it is a viable gambling opportunity.
Investing is a huge risk, because it is very unstable. If the course rises or lowers is not known. It is a bit like attending the lottery.