I have 12 Bitcoins. I am not a whale. I started about 6 months ago with 0.01 Bitcoins and $1000. I turned it into 12 Bitcoins so far and am pretty proud to say the least.
My question is, what do I do now?
As far as I can see, I have 4 options;
1) Hold the Bitcoin
2) Invest in altcoins and leave a little in Bitcoin
3) Fund a project and start my own cryptocurrency that solves a problem that current currencies face (scalability, Tx fees etc.). With the funds, I would be able to assemble a team, start a marketing campaign, get listed on exchanges etc. I am also a programmer which helps.
4) Convert it to fiat (probably the dumbest idea)
Edit: I should also add, I dropped out of school and have all the time in the world so can fully commit to any idea. I will earn my living of cryptocurrencies.
A few people have asked how I made my money so, if you are interested, here is a short summary:
Initially, I put it all into Bitcoin during the massive FUD of the fork around June when Bitcoin dipped to $1,900. Then I put half my money into NEO before all of the hype at around $12 and cashed out at $40. Then I invested in a couple ICO's and turned a pretty good profit of off the hype. After that, I got back in on NEO as soon as China announced the regulations regarding ICO's and rode the wave back from around $20 to $40 (I can't quite remember). Then, I rode the hype of Ethereum Dark, eBitcoin and a few other airdrop scams. Finally, I got in on Wincoin before it got to coinmarketcap and turned a 20x profit.
Looks like you already have your choice. My suggestion is not to sponsor a project. It is not stable because you do not have enough experience.
Hi, i am newbi so i am late or not to cryptocurrency field? if train is gone? -Thank you
Many people say. The virtual currency is the sun at eight or nine o'clock. There is still a long development time. It is not too late. What I do now is to try to understand this area.
I wonder what is better, a Mass bounty hunter or a full time crypto trader? What are the pros and cons of each chosen position?
I do not think the two are contradictory. If you have a lot of money then you can choose to full-time trading. Spare time to do the bounty is a good choice.
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BoardAltcoin Discussion
Re: If the BTC crash, will it take every other coin with it?
Of course, first it will affect the whole crypto market, the quotes of all the cryptocurrencies will go down. However, promising coins, which have a real use, such as Ether or Neo, will be restored, and perhaps they will get the first place, and bitcoin will be forgotten. But it is unlikeky happen soon
I agree with your opinion. This will affect the market. But the market has a lot of coins. If bitcoin disappears, another coin will be king. Because now can not do without encryption technology.
you are reducing drastically the life of your phone so ITs NOT profitable...
Regards, Clarf
I agree with your opinion. Estimated to dig out a coin needs several cell phones. The main function of the phone is communication. And mining are specialized mining machine.
I don't think I know much about ETH, and I don't even know how the ETH's smart contract is used, but I know that it's a bull market and that investing in ETH can make me profitable.
me either. For Ethereum professional technology I do not understand. Because that involves a field. And understand it very difficult. I think I know that Ethereum is enough. No need to learn the same professional stuff as a scholar.
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BoardAltcoin Discussion
Re: Understanding how to properly evaluate coins/tokens
A coin must have clear fundamentals and have a clear value proposition. Does it solve any of the fundamental problems that current crypocurrencies face? If no, then no matter how high it goes, it will all be due a marketing/hype-job whose will be short lived and will leave everyone that doesn't dump on time bankrupt. This describes 99% of altcoins out there and this is the only valid analysis.
This is very true and is certainly a part of the evaluation process.
well said. What I understand is that you need to understand what this technology needs to do. Also understand what you want to do. If there is no certain practicality. That is sooner or later to collapse. To analyze what is useless coins is really not easy.
Increasing the amount of available/ minable bitcoins will have a direct impact on it's price. If the Supply is higher than the demand, the price will drop and vice-versa. The point is it's not a good idea to increase the Bitcoin cap.
I agree with you very much, in the future the new bitcoin should be less and less.
It is hard to predict with certainty, but usually if something is going to fail it is during its early years. Since Bitcoin is approaching 10 years it is probably past that hurdle. I would think it will probably be around for the next 10-20 years easily, then it may risk being supplanted by some other coin or even technology. It probably won't go away completely, just become not as relevant at some point.
Yes, who can think of it before bitcoin appears?
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BoardBitcoin Discussion
Re: Could Bitcoin ever replace conventional money?
No, I think that it can't. It could be used along with traditional money but it can't entirely replace it. Unfortunately bitcoin has to many issues, weeknesses and characteristics that don't allow it to be fully used and implemented in traditional financial system. Volatility is just one of them.
I also think so, though Bitcoin is a completely new model. But waiting for everyone to accept it is still a long process.
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BoardBitcoin Discussion
Re: How do we trade Bitcoin if internet goes down?
If something like that happens, then you will need to use your fiat currency or gold or any other precious metals. I don't even think about this scenario. It's too far away, if ever.
I think so, that kind of chance is too small.
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Board中文 (Chinese)
Re: 或许,有点小钱比财富自由更幸福
by
ezcrigbagk
on 02/01/2018, 07:21:13 UTC
有钱人的幸福我都想象不到。有点小钱会想买更多的,如果财务自由了,那就真的无欲无求了。
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BoardBitcoin Discussion
Re: Satoshi Nakamoto is real?
by
ezcrigbagk
on 26/12/2017, 15:28:36 UTC
Nakamoto simply is a legend, since the release of the first generation of bitcoin wallet, this person will never show up, I am also very curious who he is