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futurebillionaire

What do I need to know about Bitcoin?

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Posted · Original PosterOP

How can I know everything I need to know about bitcoin, ethereum, etc., and cryptocurrencies in general, to be able to invest intelligently? What do you guys know that you think I should know?

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 - Moved to Folding@Home, Boinc, and Coin Mining -

 

 

 

 

I would say that we have a whole section dedicated to this very subject .... but then again since I just moved your topic there;

Explore and Enjoy xD 


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We get a cut of your profits when you make billions right?

 

bitcoin is extremely volatile i wouldn't personally invest.


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First thing to realize probably is that when trading anything like crypto, stocks or even metals. Things take time, your username won't be become reality any time soon, if ever. And then there's the risk or losing your investments.

 

Investing in any of the top 5 or even top 8 coins is probably a somewhat decent call. But like I said, at this stage none of those coins are going to make millions for you (unless your're investing heavily.) Usually when cryptocurrencies go down in value it's because some government has denied cryptocurrency being valid, if some exchange has been hacked or if people start panic selling because it's reached some new milestone. But apart from that I don't see any reason why Bitcoin couldn't reach keep getting more valuable.

 

Another route to take would be to look at https://www.icoalert.com/ for new crypto being developed. Cryptocurrency normally has some form of new technology that makes that currency a better bet for the future. You can then invest some Bitcoin into that project at get some of that currency at a cheap rate.

 

 

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57 minutes ago, Majestic_Koala said:

Bitcoin has went down by nearly 10% in one day (see here: https://www.coindesk.com/price/

 

While it is still crazy high value, it shows it is completely unpredictable currently and i would not recommend investing now as it's stock is very crazy atm

 

But hey, i ain't no economist 

No the reason it sky rocketed 3k$ was because NiceHash got hacked and someone stole 4000 Bitcoins from miners, not sure why they're currently falling in price, they might just be stabilizing. What I'm trying to say is that there's usually a reason as to why the price rises and falls.


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