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    • Moneygrabber89
    • By Moneygrabber89 10th Sep 17, 8:37 PM
    • 50Posts
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    Moneygrabber89
    Bitcoins
    • #1
    • 10th Sep 17, 8:37 PM
    Bitcoins 10th Sep 17 at 8:37 PM
    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
Page 1
    • Marktheshark
    • By Marktheshark 10th Sep 17, 8:39 PM
    • 5,689 Posts
    • 7,158 Thanks
    Marktheshark
    • #2
    • 10th Sep 17, 8:39 PM
    • #2
    • 10th Sep 17, 8:39 PM
    Sounds a good way to lose £500
    Brexit will become whatever they invent it to be.
    • Moneygrabber89
    • By Moneygrabber89 10th Sep 17, 8:45 PM
    • 50 Posts
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    Moneygrabber89
    • #3
    • 10th Sep 17, 8:45 PM
    • #3
    • 10th Sep 17, 8:45 PM
    Are you crazy? Of course it is a risk but since it has been around it has increased a lot. £500 is something I can afford to loose.

    I have done research today and read many forums and a lot are predicting it will continue to increase until 2020. Of course it can suddenly go down overnight but equally it can bounce back.

    Anybody else's opinions would be handy but if somebody with some experience in this could offer advice on storing these that would be great
    • Marktheshark
    • By Marktheshark 10th Sep 17, 8:53 PM
    • 5,689 Posts
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    Marktheshark
    • #4
    • 10th Sep 17, 8:53 PM
    • #4
    • 10th Sep 17, 8:53 PM
    The mean average price is $232
    You will be buying at $4302.
    Trusting in predictions on an investment with no secured collateral.
    What could possibly go wrong.
    Brexit will become whatever they invent it to be.
    • Moneygrabber89
    • By Moneygrabber89 10th Sep 17, 8:57 PM
    • 50 Posts
    • 3 Thanks
    Moneygrabber89
    • #5
    • 10th Sep 17, 8:57 PM
    • #5
    • 10th Sep 17, 8:57 PM
    £500 is what. Like I said I can afford to loose. It's a risk which could result in making ££££. You don't need to buy a full coin. I don't want an argument mate just advice.

    Nobody can predict anything. But like I say a lad left out work in 2015 after investing in bitcoin and has just withdrawn some funds worth £76,000.

    He has a much for complicated approach and does certain stuff with it which is granted and stored on a drive or something.
    • ColdIron
    • By ColdIron 10th Sep 17, 9:18 PM
    • 3,567 Posts
    • 4,274 Thanks
    ColdIron
    • #6
    • 10th Sep 17, 9:18 PM
    • #6
    • 10th Sep 17, 9:18 PM
    He has a much for complicated approach and does certain stuff with it which is granted and stored on a drive or something.
    Originally posted by Moneygrabber89
    You sound ripe for Bitcoin, I'd go for it. You'll make ££££, or something
    • bowlhead99
    • By bowlhead99 10th Sep 17, 9:18 PM
    • 6,868 Posts
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    bowlhead99
    • #7
    • 10th Sep 17, 9:18 PM
    • #7
    • 10th Sep 17, 9:18 PM

    He has a much for complicated approach and does certain stuff with it which is granted and stored on a drive or something.
    Originally posted by Moneygrabber89
    If he is an expert and has been investing in it for several years, why not ask him what he used to create his offline wallet.

    If it's only a small amount you can afford to lose, you could always just leave it in an online account with your bitcoin exchange of choice e.g. Bitstamp or whomever you've bought the coins from. Then it is less secure in case of something major happening to the exchange, but is instantly available for selling whenever you like.
    • Moneygrabber89
    • By Moneygrabber89 10th Sep 17, 9:22 PM
    • 50 Posts
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    Moneygrabber89
    • #8
    • 10th Sep 17, 9:22 PM
    • #8
    • 10th Sep 17, 9:22 PM
    I still want security. What's to say the £500 won t make it to £5000 which is a figure I'd be gutted to loose.

    Some people on this forum just like to put people down. I understand I'm no expert hence asking for advice.

    Has anybody got any success stories?
    • bowlhead99
    • By bowlhead99 10th Sep 17, 9:37 PM
    • 6,868 Posts
    • 12,369 Thanks
    bowlhead99
    • #9
    • 10th Sep 17, 9:37 PM
    • #9
    • 10th Sep 17, 9:37 PM
    I still want security. What's to say the £500 won t make it to £5000 which is a figure I'd be gutted to loose.
    Originally posted by Moneygrabber89
    So, create an offline wallet rather than leaving it with the exchange. Then hope nothing bad happens to your offline wallet.

    Some people on this forum just like to put people down. I understand I'm no expert hence asking for advice.
    What advice on security did you get from your workmate who had got lucky with it? Or did you give up listening because it sounded 'complicated'?
    Has anybody got any success stories?
    Surely if you are considering making an investment in something you don't want to just hear success stories. You can see that the coins once cost ten cents and last week they could be sold for over five thousand dollars. So, you can guess that some people will have made a lot of money. If you only hear from those people you may miss out on hearing about the people who paid over $1k for them and sold out, gutted, when the price dropped to under $300.

    If it helps, I have made more money than I have lost when buying and holding and then selling bitcoins.

    If you want to know what bitcoins are, how they work, how to buy, how to hold, how to transfer, how to sell, then just google for one of the various sites which explain. How about this one:

    https://en.bitcoin.it/wiki/How_to_set_up_a_secure_offline_savings_wallet
    • Moneygrabber89
    • By Moneygrabber89 10th Sep 17, 9:39 PM
    • 50 Posts
    • 3 Thanks
    Moneygrabber89
    Thanks so much for your great advice. Have you made a lot? Do you check it daily?
    • stevenhp1987
    • By stevenhp1987 10th Sep 17, 11:48 PM
    • 400 Posts
    • 356 Thanks
    stevenhp1987
    Thanks so much for your great advice. Have you made a lot? Do you check it daily?
    Originally posted by Moneygrabber89
    You've mentioned your friend who made £70k+...

    Asking them is sound advice, no?

    There won't be many success storied on here because not that many people have actually made money on Bitcoin. It's extremely hard to buy and even harder to sell.

    I'd suggest speaking to your friend who has been through it all and can offer advice.
    • Alexland
    • By Alexland 11th Sep 17, 7:02 AM
    • 643 Posts
    • 401 Thanks
    Alexland
    This forum is about investment rather than speculation so I don't think you will find many people with positive views on crypro currencies.
    • kauto
    • By kauto 11th Sep 17, 7:36 AM
    • 24 Posts
    • 28 Thanks
    kauto
    Boring.
    I'm getting a bit bored with seeing these Bitcoin threads now. This is a Savings & Investments thread and Bitcoin is a Currency (Nothing to do with saving and investing).
    I worry that people who visit this segment of the forum looking for worthwhile advice on starting a savings account or maybe drip-feeding some of their income into a index-fund long term see these threads and think Bitcoin's are a credible investment.
    Bitcoins aren't a investment!
    "Be Fearful when's others are Greedy and Greedy only when others are Fearful"
    • Alexland
    • By Alexland 11th Sep 17, 7:44 AM
    • 643 Posts
    • 401 Thanks
    Alexland
    Unfortunatly the crypto currency adverts confuse people into thinking that they are making an investment and then they end up here.

    Its no more an investment than any other currency. Do people think they will get rich holding pound coins?
    • Moneygrabber89
    • By Moneygrabber89 11th Sep 17, 8:59 AM
    • 50 Posts
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    Moneygrabber89
    Yeah so it's a good idea to buy bit hard to sell
    • Moneygrabber89
    • By Moneygrabber89 11th Sep 17, 9:04 AM
    • 50 Posts
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    Moneygrabber89
    It's easy to sell on blockchain
    • sorcerer
    • By sorcerer 11th Sep 17, 9:34 AM
    • 814 Posts
    • 390 Thanks
    sorcerer
    I remember when gold was getting close to $2000 an oz, some people were confident that it would hit $5000, it didn't it went back to $1100.
    Last edited by sorcerer; 11-09-2017 at 9:47 AM.
    • sorcerer
    • By sorcerer 11th Sep 17, 9:51 AM
    • 814 Posts
    • 390 Thanks
    sorcerer
    Also I used to generate my own BitCoin, so I have a pretty good idea and how everything works, and yes I sold all my coins recently, and it 2-3 weeks before I was able to sell them. Would I buy more BitCoin?, not a chance in hell.

    With any currency it's only as good as the support base for it, it won't be long before another scandle hits bitcoin and the price drops again.
    • Moneygrabber89
    • By Moneygrabber89 11th Sep 17, 12:47 PM
    • 50 Posts
    • 3 Thanks
    Moneygrabber89
    Would you not regret it if it does up to around 20k in 2 years?
    • sorcerer
    • By sorcerer 11th Sep 17, 12:56 PM
    • 814 Posts
    • 390 Thanks
    sorcerer
    Would you not regret it if it does up to around 20k in 2 years?
    Originally posted by Moneygrabber89
    Nope not really, I can't tell what will happen in the future, so in the future I have no regrets of what I have done in the past.
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