IDefendThePlatform
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coinbase.com is pretty good for starting out IMO.
What the.....??? Bitcoins are trading over $70 today???
- Thread starter KCIndy
- Start date
coinbase.com is pretty good for starting out IMO.
itshappening
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I do believe that the basic economics and the way bitcoin is setup probably makes it a good speculative investment.
it has taken 4 years to produce 10 million and so probably another 3-4 years to produce the capped amount of 20 million, that's when it will go even more parabolic as more dollars chase less sellers.
Yes, it's risky but really has the potential for great gains. I am kicking myself for selling my 20 bitcoins in 2011 for $30
it has taken 4 years to produce 10 million and so probably another 3-4 years to produce the capped amount of 20 million, that's when it will go even more parabolic as more dollars chase less sellers.
Yes, it's risky but really has the potential for great gains. I am kicking myself for selling my 20 bitcoins in 2011 for $30
evilfunnystuff
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The easiest fast way without huge markup for newbies that I would recommend
1 Create a new wallet for free at https://blockchain.info/
2 Go to https://www.bitinstant.com
3 Select Walmart in the pay from box
4 Select Bitcoin address from pay to box
5 Fill out the info asked for, use your adress from the wallet you created. When selecting amount to pay remember there will be an additional 4 dollars added on.
6 Follow through the prompts and select the Walmart closest to you and it will generate a payment slip with the info you need. It will send the payment slip to your email within 5 minutes, copy the info under zipzap biller info or have the slip accessible on your phone. The amount to pay here is the full amount you will pay at Walmart.
7 Go to Walmart grab a blue moneygram slip. Fill out your info in the top portion, fill the info from the payment slip into the bottom portion.
8 Hand it to the person at the counter and pay.
Bitcoins are automatically bought at current market price on MtGox, and forwarded to your wallet.
There are ways to get a little more for your money but that is probably the easiest way to get them without too much additional cost.
Fees with this method 4% to bitinstant 4 dollars to zipzap
Alternatively you can start an Mtgox account, go to bitinstant and select MtGox in the pay to field, enter your MtGox account number. You then have Us Dollars in your MtGox account, and can choose when to buy coins based on price fluctuation.
There are many other ways to acquire some, but for a unsure newbie these are probly the best methods for a first purchase, and the companies involved are well known and reliable.
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KCIndy
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+REP!!!
That's a GREAT step-by-step description of how to do it for anyone who is just getting into bitcoins.
Early on, I spent weeks of reading and digging trying to find out what you just summarized in a few clear sentences. For those who are new, the experience can be immensely frustrating and confusing.
well_met_sir
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In the short term, sure you're right about human psychology. In the long term there are only two possible outcomes: $0 or $1000000+. The first is much more likely, but the odds of the second are high enough that investing a small amount is a no-brainer.
The rate that bitcoins are mined is halved every 4 years. The first halving was at 10.5 million bitcoins and the second will be at 15.75 million bitcoins four years after the first. This halving will continue every four years until the last 0.00000001 bitcoin is found in about 200 years.
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