Bitcoin Beginner - Am I doing it Correctly?

Geoff1963

I'd suggest cashing some in as soon as you buy some, so you know the process works ; and keep paying in and out, even if you are planning to hold them.

Cotta

Geoff1963 wrote: »

I'd suggest cashing some in as soon as you buy some, so you know the process works ; and keep paying in and out, even if you are planning to hold them.

Back to the original question of where to begin reading on getting started.

markj113

bitcointalk.org is the most up to date comprehensive source of info

kauto

If your buying them to use as currency then just read up on Google,
If your buying them as an "investment" then tread very carefully. The value of bitcoins will entirely depend on what people believe it's worth. You compare this to an share in a company where you get equity in the company.
So worst case scenario, if the company goes bankrupt, you as a shareholder will still be entitled to a share of whatever left after the assets are sold. Now if Bitcoin crashes and is worth nothing, then what are you entitled too- sweet FA unfortunately. :money:

DiggerUK

Bitcoin, like P2P, is fashionable and relatively new. The risks are identifiable, profits can be substantial, the end is inevitable. Do you fully understand what you're buying?

The correct thing to do is turn around, and walk away..._

Cotta

I thought this would be a nice way to begin investing. I did not plan to get involved in a big way just the low hundreds.

ColdIron

Bitcoin isn't investing, it's speculation pure and simple. At least gold is unlikely to become valueless, my cat might outlive Bitcoin

Shashy

dividendhero wrote: »

A bitcoin is essentially just a number and the current frenzy is an example of the "greater fool theory", not my thing at all TBH

And that cash in your pocket is essentially just paper. What's your point?

armchaireconomist

" A bitcoin is essentially just a number and the current frenzy is an example of the "greater fool theory", not my thing at all TBH "


" Sorry despite interesting maths theory I struggle to understand how they are worth more than magic beans. "


What's the difference with that and your paper money with no standard?

karljt2013

Sorry but waiting until Bitcoins are $3000 dollars each before investing is not doing it correctly.

Bitcoin has just split into two due to a fierce community civil war over how to scale up bitcoins (only 7 transactions per second can be processed on the blockchain)

So as of August 1st there is "bitcoin" and "Bitcoin Cash". There is also future stumbling blocks in November which could end badly Hardly a rock solid investment when there are other cryptographic currencies to invest in like Ethereum.