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This is perfect for the conversion that everyone needs: The exchange rate is from CryptoCompare. This Bitcoin converter just keeps getting better!
The Satoshi is currently the smallest unit of Bitcoin available. There are million of them in one full Bitcoin.
Want to convert from the Satoshi to USD? This Bitcoin converter is now extremely versatile. We recently added support for the Euro!
So bear that in mind. Also, understand that investing in BTC can largely be regarded as speculating. There is huge upside potential, but there is also great downside risk.
Owning BTC might make you rich someday, it might make you a couple bucks, and it might never reach its potential and you will lose every penny you invested.
This is not a reason not to invest, but it is a reality check, don't put money into BTC expecting to double your money overnight. You might do it, but its just as likely that you won't.
I am in the positive now, but it took over two years. Bitcoin can be a good investment. But be realistic about what that investment is--speculative.
As a rule of thumb, risk and reward are not independent of eachother in investing. This is true of Bitcoin the potential reward is substantial but the risk is also quite high.
All that said, I am quite positive about bitcoin, and would encourage you to buy some not more than you can afford to lose.
You will have the potential to make a little money and in the process you can learn a lot about investing, markets, money, the blockchain, economics, risk, and financial technology.
Just don't get into this expecting to "get rich quick" or under the belief that bitcoins success is inevitable.
Thanks for the reply, that's very well written response, it puts a lot things into perspective. Glad I could help. If you have more questions, let me know.
Do whatever you feel like. No one knows what the price of bitcoin will be in a week, a month, year or 10 years. This is good advice except the do whatever you feel like part.
Nobody can predict the market, we are all speculating, some have better strategies and more informed approaches than others, but in the end we are all speculating on a bleeding edge technology.
Do whatever you feel like as long as you can justify it rationally and have done your due diligence research first.
The easiest strategy is to buy and hold until a predetermined exit point which ideally should be based on something other than just being an arbitrary round number i.
I was not reading what you were saying right. It may seem counterintuitive but it is ideal to buy in "price troughs" and then hold or sell when the price jumps back up.
I don't do this myself but I see the wisdom in it. There is a substantial chance that the price will drop before hitting 2k assuming that it does hit 2k so waiting for that dip would not be a bad choice either thought that dip may never happen.
Maybe you are starting to see the uncertainty and complexity of predicting what the market will do. Some people expects bitcoin to rise like you say, and I do, atleast in the long term, but trying to make money with btc right now is like gambling, I would rather wait a bit: P, if you want to make money, try altcoins, but you need knowledge if you don't want to loose your money.
My recomendation is to buy btc when low, and just keep it: It's probably considered a more risky investment than most of the mainstream stock market, so invest accordingly.
If you are using Bitcoin for tax evasion them I'm sorry to tell you that if the currency ever becomes commonly used there will be ways in which they will make you pay taxes.
The IRS just sent coinbase a subpoena asking for all of its clients' transaction history. The IRS was not happy with the lack of taxes paid on bitcoin so it is now combing through everybody's records to see if they can find any tax evaders.
Not only will this subpoena give the government access to transaction records for tax purposes, the Feds will also be able to see transmissions to and from darknet wallets.
So If I wanted to escape tax I should convert all of my money to bitcoin? Also what is fiat money in ELI5.
Good job asking good questions. There is a bit of a learning curve in the bitcoin space. It's kind of exciting really. Trying to understand bitcoin really helps you to understand our current monetary system as well or at least helps you to understand how little you actually understand about it.
Fiat money is not easy to ELI5, neither is monetary policy, its pretty complex and anyone that pretends otherwise should probably not be trusted too much.
People have legitimate and not so legitimate issues with fiat. One of the legitimate concerns is that the value of Fiat is not based on anything concrete, it is based on trust and supply and demand.
Why is the dollar valuable? Because we the market believe it has value. But why do we believe that? Because the government tells us we should, and history shows us we can?
But what is to keep them from just printing a bunch of new money and making our money less valuable? Well, nothing, we call that inflation, and trust that they will not print so much that our money becomes worthless see Zimbabwe or Venezuela.
As for escaping taxation, I wouldn't recommend this for a few reasons. The other two pieces of information use time for the vertical axis, with the full height of the graph representing 7 days the number in the upper right corner.
The green line is the price and the bars on the left are the trade volume over time. Oh wow, that's a great chart site.
I'd just started looking around for one which overlaid the trade history on top of the depth chart, and this one has that and more!
Where can I buy mBTC. I live in canada if that helps. Well I've never bought on mtgox, but if there's a "buy X btc" option you can't just type.
Submit text NOT about price. Bitcoin subscribe unsubscribe , readers 6, users here now Bitcoin is the currency of the Internet: You can also explore the Bitcoin Wiki: Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy.
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