BITCOIN: To the moon! Value breaks $500, expected to continue to rise!
374 replies, posted
[QUOTE=MyAlt91;42996467]Not necessarily making it difficult for the layman, more trying to invest the money they get for a few days and THEN sending it along. At least that's what I've been told?
Although this seems to be happening less and less I think, around here bank payments are usually quite instant, and at least not taking more than a day (excluding off days / holidays sometimes I suppose)[/QUOTE]
Nope, they don't invest the money they get for a few days and then send it along.
The money that banks hold was always already invested/loaned to other people, because banks have to continuously make investments/give out loans in order to be able to cover interest rates. They rely on the fact that not everyone will draw at once and thus they'll have enough of everyone else's money to cover some of the transactions if people come along and try to get at it.
This was made easier by the computerised banking system which effectively replaced the need for physical proof. Now you simply have digitised accounts comprising of hypothetical digits and irrelevant, valueless notes of sufficient quantity in every bank branch.
As for transactions, it's as simple as lowering the balance on one computerised account and raising another. The money doesn't ever 'change hands' as it were - it needn't have ever existed physically, nor does it require any complex admin work or manual intervention - it could be instant worldwide and free of any transaction fees, provided someone made the framework for it.
[editline]28th November 2013[/editline]
[QUOTE=Sethorion;42997739]Just out of curiosity, does anyone have a guide on how to get in to the buying and selling of Bitcoins for profit?
Wanna make some dough.[/QUOTE]
Derivatives trading 101.
Put money in things. You win if the price goes up (or down if you're using put options).
Use your creativity & experience to anticipate what is going to happen (short and long term) and invest based on that.
Adapt your strategy as you go. Don't rely on anyone else's and stay away from 'get rich quick/ blueprints/ market guides'.
How I see it right now - Bitcoin is unlikely to double or treble it's value because that would take it over $2/3k and there's an awful lot of people who will/would sell within or under that range (I could be wrong, although if that happens it's almost certainly going to bubble to an infinitely ridiculous cost, like $10k).
It's literally mania, so I wouldn't rule out something like that happening.
Litecoin is the 'second bitcoin' with the second highest market cap, so it will effectively grow in the wake of Bitcoin. Right now it's relatively cheap so it's got the potential to double, triple or even 10x it's value, especially if bitcoin does go abnormally high.
[QUOTE=Sethorion;42997739]Just out of curiosity, does anyone have a guide on how to get in to the buying and selling of Bitcoins for profit?
Wanna make some dough.[/QUOTE]
Here's a film that's somewhat outdated but the basics are still the same.
[video=youtube;MebaDb6HXyU]http://www.youtube.com/watch?v=MebaDb6HXyU[/video]
It is a Golden opportunity to buy right now.
Watch til the end.
[url]http://www.dailymotion.com/video/xtrqgq_sleight-of-hand-with-coins-by-jay-sankey-dvd-magic-trick_creation[/url]
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