How do I make money with bitcoin? What is minimum investment required to start...

iluvmen
iluvmen

How do I make money with bitcoin? What is minimum investment required to start making profit? How does it work in general?

All urls found in this thread:
https://coinmarketcap.com/currencies/zcash/
Gigastrength
Gigastrength

@iluvmen
How do I make money with bitcoin?
Buy low, sell high is probably what you mean?
What is minimum investment required to start making profit?
No minimum
How does it work in general?
It's electronic money. What do you need to know?

TechHater
TechHater

Buy and hold.

AwesomeTucker
AwesomeTucker

@TechHater
Is it still worth it to buy at this point? Is the price still rising?

Stupidasole
Stupidasole

@AwesomeTucker
Yes rising price doesn't mean it will stop rising.

whereismyname
whereismyname

@Stupidasole
When should I cash out? Is there possibility of it crashing?

Harmless_Venom
Harmless_Venom

@whereismyname
Very low at least for now. The chinese yuan is tanking and consequently the chinese are buying large amounts of btc and inflating the price.

w8t4u
w8t4u

@iluvmen
Gambling.
I won about 2 BTC on a Bitcoin gambling site.

Gigastrength
Gigastrength

@whereismyname
When should I cash out?

No one knows.

Is there possibility of it crashing?

Maybe but again no one really knows.

I've bought little bits and pieces over the years.

Some times I bought it cheap and sometimes over valued. Right now it's a wash. I haven't made money but I haven't lost any either.

Currently I'm holding about 2 bitcoin. Also maybe like $70 worth of other various crypto currencies.

I'm just going to hold it for decades and see what happens. I'm 30 now and my grandfather is 95.

If I live as long as him that's a lot of time to ride things out.

TreeEater
TreeEater

@w8t4u
I lost 0.1.
All of my BTC.
Lesson learned.

CodeBuns
CodeBuns

@iluvmen

mine easy / unpopular crypto currencies then exchange for BTC. Currently doing that, house is solar powered and using the excess heat to warm the house.

New_Cliche
New_Cliche

@TechHater
/Thread

Ignore the panic sells and panic buys

Harmless_Venom
Harmless_Venom

depends on your individual horizons

i'm very bullish that BTC will reach higher prices in the near to not-so-near future, but what happens in between is a crapshoot.

Buy and hold is only really a viable strategy if your horizon is measured in years, not days/months

you could attempt to trade, but you'd likely get destroyed and lose all your capital fast

Inmate
Inmate

Is it a good ideal to invest in bitcoin because of the coming election?
I was thinking the dollar could plummet

Evilember
Evilember

@Inmate
Why would the election affect the dollar either way?

Nude_Bikergirl
Nude_Bikergirl

@CodeBuns
How many rigs and type of rigs would I realistically need in order to make 1000$ a month? +electricity bills if I don't have a generator, solar panels, magnets.

Methshot
Methshot

@Nude_Bikergirl

Realistically you would need many computers loaded with high end video cards. Easily a few grand to just get started, and that is at current rates and difficulty .

Like I said pick an easy to mine coin and transfer to BTC, I mined LTC using a 1st gen raspberry pi a few years ago. I probably had 50 when I stopped and sold them for $30 a piece

Emberfire
Emberfire

@Evilember
Not necessarily the election itself, but the months after it

Ignoramus
Ignoramus

@Methshot
Can you recommend a coin that would be easy to mine? Say, one where I can get started with just my Lenovo laptop. I live in Belarus and electricity costs almost nothing, so I don't mind wasting some at all.

Inmate
Inmate

@Ignoramus
You should Mine ETH using ETHos from GPU Shack. I have 3 rigs. Each 6x asus r7 370. Roughly $200-300 USD per month before power costs. Eth is priced low at around $11 currently.

Stupidasole
Stupidasole

@iluvmen
You don't. Not unless you have enough to successfully run a pump n dump scam, which is essentially what BTC 'investment' is all about. Well that, and selling illegal drugs, firearms, and other contraband on the darknet.

If you really want to make money on cryptos, then move to China and start up a company that develops and sells ASIC mining hardware. ASIC is expensive and time consuming to develop, which is why they have not, and never will replace FPGA for most applications. Mining hardware is one of the few exceptions, but you will not be successful with this outside of China as the cost is simply too high.

There's a parallel to US history here: any of the gold rushes. The people who made a decent living or got rich off of them were the ones who sold goods and services to the prospectors. The prospectors themselves typically barely scraped by enough to survive. Actually quite a lot of them didn't survive.

SniperWish
SniperWish

@CodeBuns
mine easy / unpopular crypto currencies
It's cheaper to just buy ETH.

Flameblow
Flameblow

@iluvmen

You just buy ETH instead which has x10 the growth potential. No need to thank me

idontknow
idontknow

@AwesomeTucker
ehh
tiny marketcap
massive potential for growth
Bitcoin will reach 3 figures a coin within the next 10 years. Look at the current marketcap, it's smaller than random meme-apps companies. This is the most obvious buy and hold long term position you can take.

You can always bet on the altcoin markets and get rich overnight if you like action:

https://coinmarketcap.com/currencies/zcash/

PackManBrainlure
PackManBrainlure

@iluvmen
Sell Bitcoin buy Waves wait 1 week 1 Waves is 200 dolaah!

Carnalpleasure
Carnalpleasure

Price now at 730 ,there are no brakes on this train

Emberfire
Emberfire

Hey how does one get cash for btc? I am interested in accepting btc in my small business. I'd most definitely hang on to some but would still need to get the cash to pay overhead. Also not seeing much on the map for places that accepts btc. I see that as a good thing for me

Lord_Tryzalot
Lord_Tryzalot

@Emberfire
Sign up to an exchange like coinbase to buy and sell.

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