Bitcoin

[Maximus]

@gourimoko Is there a safe way to purchase these things and hold them safely? I know a bunch were hacked and stolen. Just wondering with more exchanges if it's gotten safer over the years. I want to buy 10 or 20 bitcoin just to hold on to. Where's the best place/way to buy and hold.

 

[gourimoko]

@gourimoko Is there a safe way to purchase these things and hold them safely? I know a bunch were hacked and stolen. Just wondering with more exchanges if it's gotten safer over the years. I want to buy 10 or 20 bitcoin just to hold on to. Where's the best place/way to buy and hold.

The goto place to learn about Bitcoin is the Bitcoin Wiki.. it's a fantastic resource that will help you learn whatever you want to know. You can start here and read-up on it a bit:

https://en.bitcoin.it/wiki/Buying_Bitcoins_(the_newbie_version)

Beyond that, Bitcoin itself hasn't been hacked. Never has been. Instead, what happened is several different systems holding bitcoins were hacked, and if your system has a bitcoin wallet, and you install trojans etc, then yes, they'll likely look for bitcoins and try to move them.

If you want to be exceedingly careful, install VirtualBox, and within it, you can install another instance of either Windows or Linux (say Ubuntu) and using that for your transactions (this is all free, btw). That way, even if your computer got hacked, infected, it would never result in your bitcoin wallet potentially being compromised.

 

[Bill Walton.]

The goto place to learn about Bitcoin is the Bitcoin Wiki.. it's a fantastic resource that will help you learn whatever you want to know. You can start here and read-up on it a bit:

https://en.bitcoin.it/wiki/Buying_Bitcoins_(the_newbie_version)

Beyond that, Bitcoin itself hasn't been hacked. Never has been. Instead, what happened is several different systems holding bitcoins were hacked, and if your system has a bitcoin wallet, and you install trojans etc, then yes, they'll likely look for bitcoins and try to move them.

If you want to be exceedingly careful, install VirtualBox, and within it, you can install another instance of either Windows or Linux (say Ubuntu) and using that for your transactions (this is all free, btw). That way, even if your computer got hacked, infected, it would never result in your bitcoin wallet potentially being compromised.

Sounds like a good thing to buy under other people's identities. I'm sure this happens constantly

 

[gourimoko]

Sounds like a good thing to buy under other people's identities. I'm sure this happens constantly

Yep...

To be honest though, all you need to do is buy a Visa gift card, or a fake ass green dot card that you load up to an unverified PayPal account.

You'll get shit rates using credit cards and even worse with PayPal, but that's not really the point is it?

 

[natedagg]

I JUST WANT TO PRINT OUT MY BITCOINS AND OUT THEM IN MY SAFE DEPOSIT BOX, MY BACK YARD, AND MY MATRESS. I DIDNT SEE IT COVERED ON THE WIKI.



















I didn't open the wiki yet tho.

 

[Maximus]

If you want to be exceedingly careful, install VirtualBox, and within it, you can install another instance of either Windows or Linux (say Ubuntu) and using that for your transactions (this is all free, btw).

If you have time, can you give me step by step instructions on how to do this. I'm going to gamble and buy some today. I love the idea that there's only going to ever be 21M of these things. If it takes off, these things could be $1M a bitcoin some day...or $0. Either way, i love the action.

 

[David.]

If you have time, can you give me step by step instructions on how to do this. I'm going to gamble and buy some today. I love the idea that there's only going to ever be 21M of these things. If it takes off, these things could be $1M a bitcoin some day...or $0. Either way, i love the action.

Ugh

You're investing in a currency that people are considering fucked due to not TWO mass hijackings.

There's hundreds of thousands of people who won't touch it anymore Bc marketplaces have literally stole them and are thinking exactly what Nate just typed out, but they know that what he typed out isn't possible.

Buy low, sure, but I'd be shocked purple if it ever recovers to where it was

 

[Maximus]

Ugh

You're investing in a currency that people are considering fucked due to not TWO mass hijackings.

There's hundreds of thousands of people who won't touch it anymore Bc marketplaces have literally stole them and are thinking exactly what Nate just typed out, but they know that what he typed out isn't possible.

Buy low, sure, but I'd be shocked purple if it ever recovers to where it was

Ugh...its doubled in the last 60 days. Hard to find that kind of potential return anywhere. I'm not risking anything I'm not prepared to lose. I don't bet on sports anymore, so this will give me a little of that buzz my body requires.

 

[natedagg]

Ugh...its doubled in the last 60 days. Hard to find that kind of potential return anywhere. I'm not risking anything I'm not prepared to lose. I don't bet on sports anymore, so this will give me a little of that buzz my body requires.

bro SPY 202 put options went off at 7 cents 2 days ago and closed at $2.24 after hours.

You should figure out a reasonable way to profit off of market decline, or at least how to hedge what you have.

Commodities and high yield bonds say that we're in trouble. You could do worse than having a margin, options, & futures account and go 50/50 long/short (or more short depending on your own thoughts). Tell me how Netflix is trading @ 8x sales and a forward P/E of 400. Come on now. Fitbit got up to 9x sales at it's peak. GPRO was prob up there too.

But yeah, Bitcoin is good too, but the fact that it has doubled has nothing to do with why it is good, it just makes it 1/2 as appealing as it was 60 days ago, IMO.

 

[gourimoko]

If you have time, can you give me step by step instructions on how to do this. I'm going to gamble and buy some today. I love the idea that there's only going to ever be 21M of these things. If it takes off, these things could be $1M a bitcoin some day...or $0. Either way, i love the action.

Yep, I will late tonight when I get back from Abrams Wars..

 

[gourimoko]

Yep, I will late tonight when I get back from Abrams Wars..

@Maximus , sorry I was recovering from Star Wars fatigue...

EDIT: As I'm writing this out, I'm realizing how much info this is going to be..

How familiar are you with Bitcoin?

I'd really recommend you read the following thoroughly:

https://bitcoin.org/en/bitcoin-for-individuals
https://bitcoin.org/en/getting-started
http://blog.newegg.com/the-fastest-way-to-get-started-with-bitcoin/

Some good wallets to look at are Bitcoin Core, Multibit (for trading multiple currencies), and Armory.

Once you've got the basics down, then you can start purchasing from various exchanges. But you really need to read those threads first (and their subsequent links). I found myself typing out quite a bit and realized I don't want to leave anything out since this is a bit complicated if you're not familiar with it.

Once you get the hang of it though, it's pretty straight forward.

Let me know if you've understood the basics and we can walkthrough the process.

 

[natedagg]

@Maximus , sorry I was recovering from Star Wars fatigue...

EDIT: As I'm writing this out, I'm realizing how much info this is going to be..

How familiar are you with Bitcoin?

I'd really recommend you read the following thoroughly:

https://bitcoin.org/en/bitcoin-for-individuals
https://bitcoin.org/en/getting-started
http://blog.newegg.com/the-fastest-way-to-get-started-with-bitcoin/

Some good wallets to look at are Bitcoin Core, Multibit (for trading multiple currencies), and Armory.

Once you've got the basics down, then you can start purchasing from various exchanges. But you really need to read those threads first (and their subsequent links). I found myself typing out quite a bit and realized I don't want to leave anything out since this is a bit complicated if you're not familiar with it.

Once you get the hang of it though, it's pretty straight forward.

Let me know if you've understood the basics and we can walkthrough the process.

What's the best way to trade bitcoins? Like I want to buy or short the currency, or is the bid-ask spread too large?

 

[David.]

What's the best way to trade bitcoins? Like I want to buy or short the currency, or is the bid-ask spread too large?

Correct me if I'm wrong gour but I don't think there's a spread.. it's not stock.. marketplaces sell at cost and make their money by charging a percentage per sale of goods purchased on said marketplace

You might want to look at buying bitcoin from ppl trying to cash out, alternatively.. local bitcoin.com

 

[gourimoko]

Correct me if I'm wrong gour but I don't think there's a spread.. it's not stock.. marketplaces sell at cost and make their money by charging a percentage per sale of goods purchased on said marketplace

You might want to look at buying bitcoin from ppl trying to cash out, alternatively.. local bitcoin.com

@natedagg

This..

I'm no investor, so I barely understand what you're saying. But the way the exchanges work, they charge fees. Outside of the fees, you're free to buy and sell. There used to be ways to really capitalize on arbitrage between exchanges. I'm not sure if folks still do this..

Sorry I can't be more helpful there, because I'm not an investor, my focus is on the technical and security aspects.

 

[gourimoko]

I believe this is what you're looking for:

http://www.bitcoinbulls.net/how-to-earn-bitcoins-through-arbitrage-software-aka-bot/