BitCoin

[cathy37]

I have heard this so many times and of course sometimes it what we have to enter to get the daily e-mail.  I don't know anything about it.

[countrygirl12]

Did you hear about the guy who bought a lot of bitcoin when it first came out thinking it wouldn't amount to anything.  Well now it has accumulated to millions of dollars and he forgot his password and can't get to his money.  LOTS of money 

He did not forget his password. He threw away the hard drive that had the virtual wallet on it. Passwords are easy to retrieve if you use real info. I don't think he "didn't think it would amount to anything". He thought he had the wallet backed up some where else. And who knows if he is even telling the truth.

[ghunter]

Heard about them, but don't know how it works,

[mrsmere]

I don't understand it but my son has it and feels it's the way to go.  I'm not so sure and not interested.

[UGetPaid]

I don't understand it but my son has it and feels it's the way to go.  I'm not so sure and not interested.

Five years ago I heard about it in the news every now and then, but also did not understand it and didn't bother researching it (which I 100% regret today). It wasn't until I saw that one of the other pay sites I used had Bitcoin available as one of their cash out options that I decided to look into it in 2017. I've been slowly accumulating it ever since and is now becoming a significant part of my personal retirement plans.

[stevensm4]

I've been wanting to get into bitcoin for a couple of years now but I don't understand it enough to really get into it. I mean, I have a membership on a site where I can get some but at the rate I'm going, I don't think I'd make even one worth over 32 grand (at the time).

[jschlueter1]

BitCoin is dangerous

[UGetPaid]

BitCoin is dangerous

What makes you say this? How do you believe that it is dangerous?

[oldbuddy]

I've been wanting to get into bitcoin for a couple of years now but don't understand it enough really get into it. I mean, I have a membership to site where I can get some but at the rate I'm going, I don't think I'd make make even one worth over 32 grand.

You don't need to buy a whole Bitcoin to make money, they sell it in fractions as low as $1 or so. You also don't need to understand it, just own it when it goes up. I took out over $400 in Gift Cards for Christmas last year all paid for with my Bitcoin Balance and still have a few hundred dollars left. The amazing part is I didn't buy any of it, I got paid free prize money from a couple of advertising websites I use every day. Part of that came from referrals, so you need to Google me to find out how anyone can do it that wants to put in the work. They don't let us post referral links here and I am not about to give away my Golden Goose for free.

[UGetPaid]

I've been wanting to get into bitcoin for a couple of years now but don't understand it enough really get into it. I mean, I have a membership to site where I can get some but at the rate I'm going, I don't think I'd make make even one worth over 32 grand.

Not many people will ever be able to own a full Bitcoin, but the beauty of it is that it is divisible out to eight decimal points beyond the whole. You don't have to have a full BTC in order to own value or transact business. So if one BTC is worth $32,000 USD - you can own 0.00003125 BTC and have the equivalent of $1. Just like you don't need to own a full dollar in order to have spendable money - it can be broken down into cents  - which won't buy you very much, but you get the concept.


Another way to look at it = Apple stock is currently trading at just over $143 per share, but that doesn't mean that I have to buy it or hold it (or sell it) in whole share amounts. I can invest $5 at the above price and own a fractional share and hope that Apple goes up to $715 per share - which would then make my stock worth $25. Bitcoin works virtually the same way.


But just like anything else of value - it can go up OR down, so you can gain OR lose value. Just like any other investment, you should never put in more than what you can afford to lose. This is why I never buy BTC with anything other than my everyday spending money or as a cash out option from one of my online earning sites.


It has gone both up and down in value since I started investing in 2017, but with both gains and losses - I am up significantly in my overall BTC worth.


DISCLAIMER:I am not a financial advisor and my comments above do not constitute financial advice. Investing in Bitcoin has potential rewards as well as potential risks involved. It may not be suitable for all people. Anyone wishing to invest in Bitcoin should seek his or her own independent financial or professional advice.

[UGetPaid]

Beat me to it oldbuddy!   

[sipingyu]

I found some of the sites like Square and Paypal to have good information on BitCoin and what might be the pro and con of investing in them. I found reading them helpful just to educate myself. I just began to invest a bit myself as I want to learn more. Seems fascinating and may be the way of the future.

[bretay]

I don't understand how it works...Like when you get payments in bitcoin .. completely confused

[oldbuddy]

Beat me to it oldbuddy!   

Well said my friend. Maybe a few will get the point.

[oldbuddy]

I don't understand how it works...Like when you get payments in bitcoin .. completely confused

You are trying to complicate things. You have a wallet you sign up with for free and when someone wants to pay you they use your wallet address and it goes into your account. It's just as simple as a Bank where you have them post the payment to your routing number. When you want to buy something with Bitcoin (like a gift card) you send the required payment to their Bitcoin Address.