Quote from: jackg on December 11, 2015, 10:58:09 PM

Quote from: Turbo2 on December 10, 2015, 07:53:50 PM

Hey guys, I've got some money sitting in a savings account making low monthly interest (well below 2%) so I thought I'd invest in some bitcoins instead

I remember hearing about Bitcoin when it was first released and loved the idea but didn't have the funds to play around with it back then...Now I do. Anyway, I already have a long time friend who is in the bitcoin buying/selling/trading "game" and that is really all I am interested in as well. He strategy is something like this;

1) He buys bitcoins on Circle (from a U.S VISA debt card tied to U.S Bank account) when price is low

2) Holds on to them until price rises (from Circle, he transfers them to a wallet on his local PC for storage, Electrum)

3) After price goes up, he sells them on Localbitcoins

4) For example, in November he bought 5 when price was ~$280....Sold them yesterday for ~$420 each ($700 USD profit in 30 days)

He pays very little sending/receiving/converting fees along the way and everything is almost instant he says, and relatively safe. Any thing wrong with the above? Any better suggestions?

I'm not a U.S citizen but I do have a U.S based bank account and debt card so only want to buy them with USD funds I have on there...No paypal/gift cards/etc. No dealing with chargebacks, invalid codes, etc. Aren't bank transfers the best option anyway?

REMEMBER. THIS IS STILL A FORM OF GAMBLING. Do Not Gamble More Than You Can Afford. If the Price Decreases And Does Not Increase For A Long Period Of Time, And you suddenly need the money: you're stuck!

Those that bought into BTC in November of 2013 agree with you wholeheartedly,

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