Not sure if anybody else is still playing the BTC market, but prices have stabilized, and more sites are starting to use the currency because of this. I truly believe that a digital currency will become the wave of the future, but I am not 100% certain it is BTC. I'm still gambling, and I'm sitting on BTC, I think it will start a trend upward once it becomes adopted by more websites.
To be honest, I thought BTC was over when the feds busted and cracked the TOR network with that javascript hack last week. Surprisingly BTC weathered that storm.
I've jumped pretty heavily into Bitcoin's little brother, LiteCoin (LTC) snagged up a ton at $1.40. They are currently trading at $4.10
If you need help or are confused about how to acquire either of these, let me know, and I can help you out.
I've been using BTC to purchase stuff online, to pay programmers, and to hold as an investment. When it catches on main stream, it's going to be an incredible way to do business.
China is starting to go crazy with BTC and LTC. They have introduced BTC debit cards, and they are now using BTC vending machines.
Think of it more as a currency. But it is a currency you can print out at your house once you own the rights to x amount of BTC or LTC.
If I have 50 shares of Ford, I can't really easily trade it to you for a product you are selling. But with BTC, I simply transfer it from my wallet to your wallet. No taxes, totally anonymous.
Sure. You can sell them on craigslist, ebay, trade the BTC for goods, or if you want to cash out right to your bank account, you simply go to one of the exchanges and they act just like the nasdaq.
I use MtGox to trade BTC, and I use BTC-e for LTC trading.
For the stock traders out there, LTC and BTC have been rising on a ridiculous amounts of volume. Stocks that have been trending flat for a long duration on low volume then surge on high volume usually indicate the beginning of a large up swing.
Of course this is not always true, and they could crash to be worthless in a week....
So if you have $20 available and are interested in jumping into something that is fun to use, snag up some LTC...
So with my initial investment of $20 USD, what does that equal into bitcoins?
From my view, it's like a new way of investing money, but also having the ability to buy/trade/sell goods at the same time.
The only problem I see, like you said, is the volatility of the market. I guess with the market starting to stabilize, it might be a good time to jump in on it.
I'm thinking of trying it out with $20 like you said previously. My best bet would be LTC, not BTC? Is it because LTC is for budget ballers?
I'll be the first to admit it seems over my head. I've never done individual trading as most of my investments are either in hard IRA's or my 401K. Years ago I tried being smart and buying some stocks I thought made sense and ended up losing my ass so I decided to leave it in mutual funds and let the experts at Schwaab (or whoever is the account manager) do it for me. I'm also at the age where I need to take fewer risks.
I'm very much interested in throwing $20-100 at this. To keep your transactions anonymous, how do you set up an account? Do you have a user name like CC or what? What if I just want to throw some money in to see if it grows and I don't want to actually trade with it? Do I purchase with a credit card, paypal or what?
I started reading up on it yesterday. Lots to absorb unless I dive in stupidly. I'm trying to understand the "mining" and how all that is supposed to regulate the system.
In the last week, all sorts of legit companies in China started accepting it. Chinese people love digital shit. LTC is trading for $15 and BTC is trading for $800 on the chinese market (okcoin.com). It's fucking crazy.
There are going to be so many millionaires from this...
Wish I got in LTC last week when it was $4. I still cant get my money into the system and I have not had time to physically deposit money into a bank account for BTC.
I wish there was a way to just put in my debit card and buy it! lol
It doesnt help that my credit union is small and nobody recognizes it to be able to just buy BTC and LTC from my account!
go to blockchain and see the funding options. Fund your blockchain wallet with USD to BTC. Then transfer that money to a BTC-E account, and pick up LTC
I don't leave any money in my BTC-E account, it is ran by russians. I transfer my money to a paper wallet when I'm done using their service.
Not sure if any of you watched the CSPAN senate hearing on virtual currency, but the US basically said BTC and LTC are here to stay, stop trying to get rid of it. I wouldn't be surprised to see BTC hit $1000 and LTC to hit $20 by Friday. It takes a couple days to move money into BTC, and with the senate giving virtual currencies the "go ahead", where they won't ban it, it basically is opening the flood gates to people sitting on the fence.
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