Bitcoins

I was asking about Dimon, the CEO of the creators of fiat money, who says you can't create money out of thin air.

But now you mention him, is that Schiller who predicts a crash every year? Ha.

Moneygrabber89 wrote: »

I am going to buy some bitcoin. Could somebody please advise simple way to store the coins. It will be a paper wallet as everything sounds complicated. Does anybody know any secure sites to store or create wallet?

Any advice would be greatly appreciated. Going to dive in with £500. Hopefully watch this rollercoaster bring in some money

First advice, which I think has already been pointed out, it ain't an investment. I bought some earlier this year, and have seen the price go up by almost 300%. In the last couple of weeks the price has dropped about 40% from its high point. That’s £2000 wiped off the value of my Bitcoin.
I’m not bothered as it’s strictly speculation for me. A one off gamble, for want of a better way of putting it. But instead of winning or losing the lot on the 2.30 at racetrackX, I get to enjoy, or suffer, the ongoing roller-coaster ride.

In answer to your first question, I would say Electrum is quite simple to use. I decided that was better than a paper wallet. If you do, make sure you follow the instructions and write down your seed phrase. If you don’t, you run the risk of losing access to your wallet, and there are several ways to do this, then you’ll lose 100% of your Bitcoin. I learnt this by first hand experience.
I also keep copies of my wallet on independent drives (flash drive, external hard drive)

You may has missed the optimal time to buy in, if a friend who often references Fibonacci is correct, with the price already up over 10% from today’s low, but I lean more toward another trader friend who says it’s all total carp, or a less polite version. His suggestion on choosing the best time to buy is to write a list of dates & times on pieces of paper, throw them all in a hat and pull one out at random, or something that will produce similar results. You're unlikely to get a better answer.

hramkumar wrote: »

.....
In my opinion bitcoin, ethereum and litecon have huge potential.

A lottery ticket has even more.

Was just browsing and this caught my eye.

As with investments or speculative options buying when everyone else is selling is the key to making good profit. I have 3.5k invested and this is sitting at 25k while we let china do its yearly "Throw its toys out the pram" regarding regulation issues.

The big price increases and drops are all tied to news, adoption and updates to the underlying technology. Simple rule for new investors dont panic sell and keep up-to-date if your into trading highs and lows.

Its funny how all these "Experts" and major names come forward during some bad news to call it fraud knowing they will get exposure and then are buying the dip...Then you realise that these same guys calling it a fraud have been charged several 100 million in settlements due to all kinds of financial frauds and deceit. There are only 2 reasons why they publicly voice their negative views - They are either playing the market, or feel threatened by its growing scale and acceptance.

To anyone who is genuinely interested, before buying anything read and learn as much as possible about it and then you will have your answer. Cointelegraph is a great news site which will give you some insight into how much this has been developed and to what extent its already merging with our current financial systems.

The fundamental technology behind it is soo much more than "an internet currency" Many banks and Governments around the world already have blockchain teams which are looking at regulation and ways to safely incorporate this into everyday use.

-There is set supply of coins - No printing more bank notes when we feel like it.
-Every Transaction is broadcast on a public ledger which cannot be altered.
-You are in control of Your money so can send where you want and to who you want anywhere in the world for a reasonable fee.
-Much safer for merchants as the buyer cannot issue a charge back.
-Its unhackable and decentralised (no one can just turn it off)

To the bubble guys - I cant post up the images but check the charts on the start of the Dow Jones comparing to the start of Bitcoin, you will see its almost identical.

If you are genuinely interested educate yourselves before asking buying advice from random internet people, as your getting a very one sided opinion. This includes me

ps: This is a volatile market so dont buy and sell with emotions, and as always don't invest what you cant afford to loose.