Tech Bitcoin Game Plan

[incredibleworkethic]

One of the biggest events in history are happening here and Bitcoin is going more mainstream. You know it's bigger when your parents and people you work with at a factory are talking about it who otherwise would have known nothing about it a few years ago.

It's gotten so much attention lately I almost can't ignore it. I know I should have bought years ago but didn't.

I decided on buying a modest, regular amount of bitcoin $value every time I'm paid by an affiliate program. The game plan is long term, so I'll be basically buying on low points every two weeks. I don't want to over think or speculate or get wrapped up in watching the value every hour, I just want to be consistently adding to the wallet.

Does anyone else do this? Just buy at lower points, frequently?

I'm using money I can afford to lose, which would have otherwise been spent on stupid stuff anyways.

Any tips? And who do you guys buy from and where do you keep your wallet?

Thanks

[rowan]

Try dollar cost averaging, rather than guessing low points. Divide your total by X days, buy that value each day for X days. Even buying once a week rather than once per two weeks would help smooth things over.

[magneto664]

Originally Posted by incredibleworkethic

One of the biggest events in history are happening here and Bitcoin is going more mainstream.

what does it mean "more mainstream"? does that mean that you will need to pay $ 40 fee worth for paying by bitcoin $ 20?

[rowan]

Originally Posted by magneto664

what does it mean "more mainstream"? does that mean that you will need to pay $ 40 fee worth for paying by bitcoin $ 20?

It means two douchebags standing at the water cooler, discussing what a great investment Bitcoin is, even though they have no local wallet and have no idea how to actually transact with Bitcoin. And they'd never even heard of "Bitcoin" until last month.

Then they cry when the exchange they leave their funds on gets hacked.

[~Ray]

Everyone is certainly talking about it

Ray
hardlinks.org

[GFED]

Originally Posted by rowan

Try dollar cost averaging, rather than guessing low points. Divide your total by X days, buy that value each day for X days. Even buying once a week rather than once per two weeks would help smooth things over.

Good advice.

[Sly]

Originally Posted by rowan

It means two douchebags standing at the water cooler, discussing what a great investment Bitcoin is, even though they have no local wallet and have no idea how to actually transact with Bitcoin. And they'd never even heard of "Bitcoin" until last month.

Never trust anyone that doesn't put their money where their mouth is.

A good question to ask when you hear someone spitting "advice" about real estate, stocks, businesses, crypto, etc... "how much do you have at stake?" The blank face pops up more often than not. People that do know can always spot the fakes a mile away.

[rowan]

Originally Posted by Sly

Never trust anyone that doesn't put their money where their mouth is.

A good question to ask when you hear someone spitting "advice" about real estate, stocks, businesses, crypto, etc... "how much do you have at stake?" The blank face pops up more often than not. People that do know can always spot the fakes a mile away.

Agreed, but in this case I'm talking about people who have invested, but only because everyone else is doing it. Thus the snide comment about leaving their crypto funds sitting on an uninsured and potentially "remotely hackable" third party exchange.

[onwebcam]

I have yet to see one person on my facebook talking about it (besides the infomercials)
I have yet to have one customer ask to pay with it.

Not exactly mainstream..

I'm thinking about testing all the hype on this board by offering up a few assets if you will and see if anyone is actually willing to utilize their "currency" in commerce.....

[Sly]

Originally Posted by rowan

Agreed, but in this case I'm talking about people who have invested, but only because everyone else is doing it. Thus the snide comment about leaving their crypto funds sitting on an uninsured and potentially "remotely hackable" third party exchange.

My Twitter feed is full of overnight experts, it's amusing. This happens every rush. Last one was apps, everyone wanted to be involved with apps!

[PimpStar]

I remember threads on gfy about bitcoin when it was like under a 100usd and I always ignored it until it got more mainstream ....whatever that means

same with eth it was discused here and recommended to buy when it was still low
did the same ignoring until it got more mainstream....

Doh

[PornDude]

Go buy IOTA.

[incredibleworkethic]

Originally Posted by rowan

Try dollar cost averaging, rather than guessing low points. Divide your total by X days, buy that value each day for X days. Even buying once a week rather than once per two weeks would help smooth things over.

Nice first reply to my thread. That's exactly what I was thinking, some kind of advice like this.

I'm without a doubt going to invest what I can afford to lose, I just don't see this slowing down. Once people get used to using it, I think it'll gain more traction.

There's so many technical terms on websites that I think scared me and others from trying it in the first place. Blockchain, receiving address, etc. the list goes on with things that took some time and effort to learn.

But thanks for everyone who replied.

[mineistaken]

Originally Posted by incredibleworkethic

You know it's bigger when your parents and people you work with at a factory are talking about it who otherwise would have known nothing about it a few years ago.

Not meant against BTC, but in general:
what are people saying when "your grandma and taxi driver is talking about investing in gold/x/etc" ?

[mineistaken]

Originally Posted by onwebcam

I have yet to see one person on my facebook talking about it (besides the infomercials)
I have yet to have one customer ask to pay with it.

Not exactly mainstream..

I'm thinking about testing all the hype on this board by offering up a few assets if you will and see if anyone is actually willing to utilize their "currency" in commerce.....

You can hear about it on evening news or in regular newspaper average mom and pop reads etc.
So mainstream in the sense that everybody heard that this "currency" exist.

Not mainstream in a sense that it is used by lots of poeople. In that sense it is how much, 0.000001% of people use it?

[onwebcam]

Originally Posted by mineistaken

You can hear about it on evening news or in regular newspaper average mom and pop reads etc.
So mainstream in the sense that everybody heard that this "currency" exist.

Not mainstream in a sense that it is used by lots of poeople. In that sense it is how much, 0.000001% of people use it?

I'd say most people have heard about it for years. Mom and Pop could care less and will never care. Grandma isn't jumping online to figure out how to buy bitcoin.

"mainstream media" is talking about it. But that should give you some reservations as to why?

[TheDynasty]

I also buy a little bit at a time once they go low. i always make my money back. and if you still get in now you are going to make it back still just give it time.

Good thread !

[The Porn Nerd]

Actually the OP is doing exactly what I am doing I've decided to just buy bitcoin with funds from a Sponsor (Upsell in Members Areas). It's a great game plan.

Dividing your investments into several wallets is a good strategy, too. Buy weed? Put however much into a separate "weed-only" wallet. Buy low, sell high (hehe) just for that wallet and voila! Magic free weed!

Good luck man and, as always, keep going!!

[incredibleworkethic]

Thanks guys! I guess buying low with money you can afford to spend and holding it is the best option. Definitely not into selling quick. I'm trying not to gamble on an investment. There's no rhyme or reason for trends with bitcoin it seems - just getting popular with people buying in and cashing out.

[The Porn Nerd]

Originally Posted by incredibleworkethic

Thanks guys! I guess buying low with money you can afford to spend and holding it is the best option. Definitely not into selling quick. I'm trying not to gamble on an investment. There's no rhyme or reason for trends with bitcoin it seems - just getting popular with people buying in and cashing out.

The market is being gamed right now and when the Chicago Futures Market accepts Bitcoin tomorrow the ride will be epic.

So hold onto it for five years at least.