Bitcoin Beginner - Am I doing it Correctly?

karljt2013

ColdIron wrote: »

I'd want to know exactly how to get my money out before tackling the hurdles of getting it in

if you are in the UK you have lots of barriers because no banks will deal with Coinbase (largest bitcoin company in the world)

karljt2013

Alexland wrote: »

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

Just because you are unable to grasp the underlying technicalities of cryptographic currencies it doesn't make them worthless. Maybe you should stick with your 1% ISAs

Alexland

Thanks for your offensive feedback and I agree 1pc ISAs are on the opposite side of the potential reward spectrum - a near guarenteed loss to inflation.

Even if the world does move to crypto currencies Bitcoin is unlikely to be the winner on the quest for credibility.

Cotta

karljt2013 wrote: »

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.

What makes Ethereum better?

angela2011

I'm want to buy ethereum but dont know how to do it. any suggestions or pointers would be great...

ColdIron

Have you read posts #1 to #25 especially #2?

bassking

There are now numerous crypto-currencies and will quite probably become part of the financial system to replace the non-backed paper currency that the whole world uses at present. There's a lot of research to do and i'll just throw something else into the mix... gold backed cryptocurrency. This is a relatively new idea that a few companies have set up whereby each bitcoin is backed by physical gold. There's even an article on Bloomberg today about gold backed crypto's (sorry, i'm not allowed to post links!)

I've been researching a company based in the UAE called 'one gram'
Good luck with your adventure.

HappyHarry

Everytime I see a post discussing the pros and cons of speculating in a crypto-currency, my mind wanders to the Tulip mania of the 17th century.

There seem to be so many parallels, even with a nearly four hundred year gap between now and then.

http://www.bbc.co.uk/culture/story/20160419-tulip-mania-the-flowers-that-cost-more-than-houses

https://en.wikipedia.org/wiki/Tulip_mania

glentoran99

karljt2013 wrote: »

if you are in the UK you have lots of barriers because no banks will deal with Coinbase (largest bitcoin company in the world)

that's not true, work colleague has no issues

jimjames

"investing" in something that is meant to be a currency to me indicates that it is nothing of the sort. A currency is of no use if the value isn't stable as many countries have found in the past.