Current Events > If you were interested in getting into bitcoin/cryptos, NOW is the time to buy

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clearaflagrantj
09/14/17 5:38:24 PM
#1:


BTC tumbled down from $5000 to $3300 from bullshit FUD and manipulation, my prediction based on absolutely nothing: prices will stay around $3500 for a few months then explode to 10K before the end of November.
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Turbam
09/14/17 5:39:55 PM
#2:


It's too bad I don't have 3 grand lying around.
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Colorahdo
09/14/17 5:40:27 PM
#3:


Can you buy less than 1?
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#4
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#5
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themaster627
09/14/17 5:45:30 PM
#6:


Colorahdo posted...
Can you buy less than 1?


Yes, cryptocurrency breaks down into the 1/100,000,000, where a single point for Bitcoin is called a Satoshi. You can buy this fraction for a few dollars, if you really wanted to.

fenderbender321 posted...
I tried to buy some awhile back, but I absolutely could not figure out how the fuck to do it. There's all these different kinds of websites and wallets and shit. I tried to look up how-to videos, and still got confused. And I'm pretty smart with shit, so I dunno.


Make an account on Coinbase to buy it, then store it in a wallet like Electrum. That's the easy answer.
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clearaflagrantj
09/14/17 5:46:26 PM
#7:


Turbam posted...
It's too bad I don't have 3 grand lying around.

Colorahdo posted...
Can you buy less than 1?

You can buy fractions of a BTC.

fenderbender321 posted...
I tried to buy some awhile back, but I absolutely could not figure out how the fuck to do it. There's all these different kinds of websites and wallets and shit. I tried to look up how-to videos, and still got confused. And I'm pretty smart with shit, so I dunno.

To buy all you need to do is set up and account on gdax, Coinbase, or Gemini, then link your bank account.

That's it as far as buying goes. After you buy your BTC of the exchange you can transfer it to a wallet (or you can leave it on the exchange, which is basically an "I owe you" from them instead of physically having the keys).

byron posted...
According to TC it'll be at 100K in a year or 5 years

Liquidize your assets!!! Buy BITCOIN!!!!!

100K in five years guaranteed
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Turbam
09/14/17 5:47:54 PM
#8:


So I can spend $10 and get some bitcoin still?
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whitelytning
09/14/17 5:48:45 PM
#9:


Aren't they saying that all of china is about to ban them? That won't help the exchange rate.
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mortimerjames
09/14/17 5:50:24 PM
#10:


seems too good to be true and won't that cause inflation if its work 100k someday?

and its still not doing anything
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NOM
09/14/17 5:53:03 PM
#11:


clearaflagrantj posted...
To buy all you need to do is set up and account on gdax, Coinbase, or Gemini

Which site would you recommend most? And how much bitcoin will $50 get me? TBH I don't really see this going anywhere but $50 is a pretty trivial amount especially if it does happen to take off.
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clearaflagrantj
09/14/17 5:54:17 PM
#12:


Turbam posted...
So I can spend $10 and get some bitcoin still?

Yup

whitelytning posted...
Aren't they saying that all of china is about to ban them? That won't help the exchange rate.

From what I understand they are only regulating exchanges, it's impossible to ban BTC.

mortimerjames posted...
seems too good to be true and won't that cause inflation if its work 100k someday?

and its still not doing anything

There's only a finite number of coins available, 21 million, and a good amount have been lost forever. Currently there are about 16 million coins total.

Coins are mined by computers and it gets more difficult to mine coins as the number increases.

So if you own one coin, you own one 21 millionth of the entire market cap forever.
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FaytlessHearts
09/14/17 5:54:18 PM
#13:


My buddy made like 2k in under a month with just litecoin. The silver equivalent to bitcoin. Soon as payday comes, I'm on some more..
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metralo
09/14/17 5:55:40 PM
#14:


clearaflagrantj posted...

Coins are mined by computers and it gets more difficult to mine coins as the number increases.


i still don't understand this
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Colorahdo
09/14/17 5:56:01 PM
#15:


People make fun of people who want to invest in bitcoin. Why?
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clearaflagrantj
09/14/17 5:56:31 PM
#16:


NOM posted...
clearaflagrantj posted...
To buy all you need to do is set up and account on gdax, Coinbase, or Gemini

Which site would you recommend most? And how much bitcoin will $50 get me? TBH I don't really see this going anywhere but $50 is a pretty trivial amount especially if it does happen to take off.

Coinbase has a 1.5% withdrawal fee on bank transfers, gdax is 0.3% iirc (but you have to wait for the funds to hit your account), Gemini has super cheap fees but the ID verification might take a week or two.

Set up an account with all three (gdax and coinbase are linked so you only need to do it once to have access to both).
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Turbam
09/14/17 5:57:05 PM
#17:


Alright, I guess I may put 50 into some bitcoin later today.
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clearaflagrantj
09/14/17 5:59:55 PM
#18:


metralo posted...
clearaflagrantj posted...

Coins are mined by computers and it gets more difficult to mine coins as the number increases.


i still don't understand this

tl;dr people are rewarded coins for lending computational power to confirm btc transactions, it provides the decentralized ledger, it replaces a government printing money and controlling the currency.

FaytlessHearts posted...
My buddy made like 2k in under a month with just litecoin. The silver equivalent to bitcoin. Soon as payday comes, I'm on some more..

LTC has a strong future ahead of it.
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clearaflagrantj
09/14/17 6:01:53 PM
#19:


Colorahdo posted...
People make fun of people who want to invest in bitcoin. Why?

Because they feel like they missed out or they are too scared or don't understand it. Fox and the grapes.

Bitcoin/cryptos are going to revolutionize the entire fucking world and we are still super early in the adoption phase.
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mortimerjames
09/14/17 6:02:17 PM
#20:


Colorahdo posted...
People make fun of people who want to invest in bitcoin. Why?

Cause it makes no sense and it feels like it will be shut down in the future. It feels like giant crime

Its like a group of people deciding rocks were worth 5k now
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mortimerjames
09/14/17 6:02:46 PM
#21:


I don't see why bitcoins should and will replace money
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whitelytning
09/14/17 6:04:21 PM
#22:


clearaflagrantj posted...
whitelytning posted...
Aren't they saying that all of china is about to ban them? That won't help the exchange rate.

From what I understand they are only regulating exchanges, it's impossible to ban BTC.


If they ban the exchanges they would be cutting the worlds largest market off from BTC thought right?
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Turbam
09/14/17 6:11:43 PM
#23:


clearaflagrantj posted...
LTC has a strong future ahead of it.

Wait, so should I so ltc or btc?
LTC is 80 a share, right? Or somewhere around there?
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clearaflagrantj
09/14/17 6:28:06 PM
#24:


mortimerjames posted...
Colorahdo posted...
People make fun of people who want to invest in bitcoin. Why?

Cause it makes no sense and it feels like it will be shut down in the future. It feels like giant crime

Its like a group of people deciding rocks were worth 5k now

Somebody decided gold and silver were worth something.

The difference is BTC is decentralized and finite.

whitelytning posted...
clearaflagrantj posted...
whitelytning posted...
Aren't they saying that all of china is about to ban them? That won't help the exchange rate.

From what I understand they are only regulating exchanges, it's impossible to ban BTC.


If they ban the exchanges they would be cutting the worlds largest market off from BTC thought right?

If they did ban them yeah it would hit a lot of Chinese investors and they would sell off.

But from what I understand China is trying to regulate it and create a new Chinese currency to track cryptos.

This is like the 30th time China has "banned" bitcoin though, nothing will come of this.

Turbam posted...
clearaflagrantj posted...
LTC has a strong future ahead of it.

Wait, so should I so ltc or btc?
LTC is 80 a share, right? Or somewhere around there?

Litecoin is Bitcoin with better technology and from what I've read is much less likely to fork, it's basically the little brother to Bitcoin, the silver to Bitcoin's gold.

One big difference is LTC has 84 million coins while BTC has 21 million, so if they had the same marketcap one BTC should ideally be worth four Litecoins.

So if BTC goes up to 100K in five years, LTC should be 25K each, tell me what is cheaper right now though, one bitcoin or four litecoins.
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NOM
09/14/17 6:31:16 PM
#25:


TC will you be my bitcoin adviser and tell me what to do and how to do it? I signed up for those sites but... I don't know what to do now? I've never invested in stocks or anything before.

In exchange, when I make $100k in a couple years I'll slip you a nice paycheck.
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mortimerjames
09/14/17 6:34:40 PM
#26:


clearaflagrantj posted...
Somebody decided gold and silver were worth something.

The difference is BTC is decentralized and finite.

We decided that we value shiny things and they are also hard to find and get. What do bitcoins even do besides be valuable?

If I was an evil genius and wanted to collapse the world, I'd probably think up bitcoins.
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#27
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COVxy
09/14/17 7:55:02 PM
#28:


You'll all see, TC's gonna be rich, never having to work his job that he hates ever again. Just like the dude who can feel his lottery numbers getting close to hitting.
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awesome999
09/14/17 7:57:58 PM
#29:


What if prices crash and shit?
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clearaflagrantj
09/14/17 9:23:34 PM
#30:


awesome999 posted...
What if prices crash and shit?

https://www.youtube.com/watch?v=XbZ8zDpX2Mg
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sktgamer_13dude
09/14/17 9:28:28 PM
#31:


metralo posted...
clearaflagrantj posted...

Coins are mined by computers and it gets more difficult to mine coins as the number increases.


i still don't understand this

This. Even after your explanation it doesn't make sense.
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clearaflagrantj
09/14/17 10:01:03 PM
#32:


sktgamer_13dude posted...
metralo posted...
clearaflagrantj posted...

Coins are mined by computers and it gets more difficult to mine coins as the number increases.


i still don't understand this

This. Even after your explanation it doesn't make sense.

https://www.youtube.com/watch?v=Rtrqb-FgKCs
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#33
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refmon
09/14/17 10:06:18 PM
#34:


How much do I invest in bitcoin.
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DocileOrangeCup
09/14/17 10:06:44 PM
#35:


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assassinCrash
09/14/17 10:08:03 PM
#36:


How much can I afford with $1000
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clearaflagrantj
09/14/17 10:13:24 PM
#37:


assassinCrash posted...
How much can I afford with $1000

Right now about 0.3 BTC

refmon posted...
How much do I invest in bitcoin.


Everything you are okay with losing
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Ruvan22
09/14/17 10:44:52 PM
#38:


How easy is it to pull money back out?
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refmon
09/14/17 11:11:23 PM
#39:


clearaflagrantj posted...
assassinCrash posted...
How much can I afford with $1000

Right now about 0.3 BTC

refmon posted...
How much do I invest in bitcoin.


Everything you are okay with losing


When do I cash out
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clearaflagrantj
09/14/17 11:58:55 PM
#40:


Ruvan22 posted...
How easy is it to pull money back out?


It's super easy.

You just sell it and you'll get your money back.

Might be considered a "taxable" event to report to the IRS, haven't looked into it though.

refmon posted...

When do I cash out


gE8hDnY
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FaytlessHearts
09/15/17 10:40:55 AM
#41:


Just an update, litecoin has gone up over 8 dollars in the last hour, and bitcoin almost 300. Get in on it while you can to those interested.
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ChromaticAngel
09/15/17 10:51:20 AM
#42:


Turbam posted...
It's too bad I don't have 3 grand lying around.

Don't buy bitcoin straight up. Bitcoin is more like a gold-standard equivalent for other cryptos. So when bitcoin price rises, the value of other cryptos rise as well. You can't trade most cryptos for money, but you can trade bitcoin for other cryptos and back.
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clearaflagrantj
09/15/17 12:46:26 PM
#43:


FaytlessHearts posted...
Just an update, litecoin has gone up over 8 dollars in the last hour, and bitcoin almost 300. Get in on it while you can to those interested.

I fear it's a dead cat bounce and the FUD will continue until October 31st when the Chinese exchanges "close."
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