Any One into Bitcoins?

d-hunterz on 29/05/2017 - 18:15

Hi fellow bargainers, I have been recently introduced to bitcoins by one of my friend.I would like to seek some info on this, such as-

  • What is the process?
  • How much to invest?
  • What is the return?
  • Are the returns guaranteed?
  • What is the risk level?

Any app info would be much appreciated. Thanks

Financial

Comments

  • KaTst3R on 29/05/2017 - 18:23
    +15

    Anyone asking if the returns are guaranteed shouldnt be investing in them (or in any other products) at all.

    • Baysew on 29/05/2017 - 18:36

      Could be a useful sell signal.

  • urahara on 29/05/2017 - 19:14
    +2

    Its a highly volatile market with associated risks.
    Research a bit at your level before investing.

  • Wystri Warrick on 29/05/2017 - 19:17
    +1

    While reading your post I thought you where my friend, I told him the same thing, though you are in Melbourne :)

  • kindshibe on 29/05/2017 - 19:21
    +1
    • What is the process?
      Read this: https://bitcoin.org/en/getting-started
    • How much to invest?
      Since you do not know anything about bitcoin, any money you spend on it will not be an 'investment' - it will be a blind gamble. In that respect, you should only spend an amount of money you are willing to lose.
    • What is the return?
      Bitcoin is a highly volatile asset, it's price and hence return are determined by demand and supply. There is no prespecified return.
    • Are the returns guaranteed?
      No, you could lose your entire 'investment' tomorrow.
    • What is the risk level?
      Very high, not only is bitcoin highly volatile, but it is completely unregulated, and it is not backed by any asset or government.

    Unsolicited suggestion: Dogecoin is a pretty cool cryptocurrency you should look into. It has the 'wow' factor that bitcoin lacks.

    Good luck.

    • d-hunterz on 29/05/2017 - 22:03

      Thanks for the info.

      How would you compare Bitcoin vs Share market?

      • Baysew on 30/05/2017 - 09:09
        +2

        With a chart.

        • lucas001 on 01/06/2017 - 12:42
          +1

          hahahaha Crypto is 24/7.. you can invest as little as you want… easier to learn, less bureaucratic, there are lots of differences.

  • AlienC on 29/05/2017 - 19:35

    I would say that the return guarantee is fairly high.

    Current return rate seems to be anywhere between 1 and 5 in the next five years.

    Ofc course this is all speculation but i have been following bitcoin for a while now and while it is not dying it seems to still have a future ahead. We shall see how high that future is or will be in the next five to ten years.

    I would maybe try a few hundred dollars in ethereum or litecoin for now as they seem to be on the bigger rise for the moment but most of the cryptocurrencies affect one another in some form or another.

    Risk level: like trying to predict global markets and trends for the next five to ten years. If you foresaw the fidget spinners invest if you didn't well..

    Don't gamble money on random products.. most bitcoin users want to actually see the reality of bitcoin come to life and so price goes up others are just playing the buy low sell high game.

  • [Deactivated] on 29/05/2017 - 19:39
    +2

    BTC,
    ETH,
    NEM,
    Ripple

    are 4 to look into

  • outlander on 29/05/2017 - 19:41

    This should tell you all you need to know
    https://www.youtube.com/watch?v=ZIktba-8bTM

  • idonotknowwhy on 29/05/2017 - 21:08

    Can you pump chaincoin please?

  • d-hunterz on 29/05/2017 - 22:03

    Thanks for the info.

    How would you compare Bitcoin vs Share market?

    • ChunkyToast on 30/05/2017 - 13:53
      +2

      Shares are ownership in a company.
      Bitcoin is a currency, i.e AUD / USD / EURO.

      They shouldn't be compared. People are thinking of it as though it is a share, which it isn't.
      I have bought ETH and it worked out well for me but I would not recommend to buy Cryptocurrency if you think these are shares, they do not pay regular dividends like a some shares do when the company makes a profit and dividends are declared. I bought it because it was cheap and i had a few hundred to spare.

      • thord on 30/05/2017 - 17:40
        +1

        There are some blockchain technologies that are looking to replicate the way shares work.

        Lykke (LKK) is one, it's looking to be an exchange - crypto + forex first, possibly securities later, where every 100 LKKs is worth 1 share in Lykke.

        Pretty interesting concept, they've talked about eventual dividend distribution, and some pretty radical changes of how the securities and exchange market is handled.

        • lucas001 on 01/06/2017 - 12:43

          plus there are coins you can stake and receive "dividends"

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