If you get on the internet then chances are you have stumbled across some mention or another on the topic of Bitcoin. Between the tumult that arose from the large ripple China made in the community to celebrities like Snoop Lion and Mel B from Spice Girls openly embracing the crypto currency. Bitcoin also gained a degree of notoriety as it was attached to the sensationalized news surrounding the Silk Road bust. If you’re a friend of mine on Facebook then you are likely tired of seeing Bitcoin related topics in your news feed.
I had heard mention of these Bitcoins on several occasions but did not pay them much attention until one of my business allies confided in me as to how he recently made several thousand dollars in a very short period of time. As I recently have begun to see profit in trading Bitcoin I thought it only appropriate to share my findings with you fine readers!
What is a Bitcoin?
Bitcoin is a non-fiat crypto currency that currently holds value far beyond that of the US dollar. The open source peer-to-peer digital currency was introduced to the world by a developer going under the name Satoshi Nakamoto back in 2009. In such short time we have witnessed the value of a single Bitcoin spike from $13 to $1,200. A network of decentralized computers are used to process and verify the transactions. Bitcoin is attached to no country, thus no individual economy. One of my initial thoughts on the topic was that is could be unreliable due to the possibility of double spending or some forgery of similar nature. The cryptography used to secure the funds, proof-of-work system and the block-chain all work to prevent such happenings.
Where can I get Bitcoin?
My first thought once I saw what my partner was bringing in was to do my own research on the topic. After I managed to grasp what this was about my next thought was to find a spot to acquire these Bitcoins. Look no further for I have attached a link below you may use to get signed up and get started with! I started with Coinbase. It has been rated #2 Most, Exciting Start-Up Business of 2013 by Time Magazine. Here is where my purchasing journey has begun:
How can I watch the value of Bitcoin?
Any savvy investor is not just going to throw money at any time. One needs to pay attention to the market fluctuations so as to know when to buy and sell. Below is a link to the site I use to keep an ear to the ground in terms of value of Bitcoin to US Dollars. Now when you hop on btc-e.com you will notice a chat box on the right. One of the first things I learned was not to listen to anyone on there. There is a reason they call it the “TrollBox”. In my experience thus far it would seem the majority of day traders that participate in the TrollBox make the effort to deceive the noob traders into making bad buys. There is much cajoling, trash talk and even more wild predictions. I tend to view the charts for information and the TrollBox purely for entertainment purposes.
So there you have it! A few tools to begin your own exploration into the realm of Bitcoin investments. Should you feel so bold as to enter this particular arena then let me suggest to you keeping a keen eye on the ever fluctuating charts, paying attention to news sources that cover Bitcoin regularly and not believing a soul in the ever active TrollBox. I have seen some analysts predict that Bitcoin will become the universal currency and will shortly multiply in value while others adamantly exclaim that this bubble is swelling to bust. My final thought is that even if this were a bubble just waiting to bust there is no doubt in my mind that there is profit to be had in mix by the swift and the savvy.
Joseph Bryant is a mysterious writer wrapped in an impenetrable cloak of mystery. His true intentions are never clear. He may or may not be lingering in dark areas near you, pursuing unfathomable objectives. Some say that Joseph Bryant can speak with the dead. He once fought a bear to the death, but does not like to brag about it. Having such pristine perception, he sees more in a day than many will in a lifetime. If a survival situation occurred in which there were a shortage of food, Joseph would eat you in order to survive. Being of keen intellect, he would then fashion useful tools from your bones and teeth. Such is his will to carry on and progress. Joseph is the Director of Marketing for GreenLight Construction Group, a Free-Lance Journalist, feisty entrepreneur, and an aspiring novelist.