Just curious if anyone has explored the use of bitcoin - either, simply changing cash for bitcoin to immediately make purchases or buying bitcoin as a longer-term investment.
Specifically, I'm curious about:
its volatility (seems its value fluctuates quite a bit)
transaction time (unclear whether transactions are instantaneous or if they take time to process)
bitcoin exchanges (is my (IRL) banking data safe when buying bc?)
I'd be real curious to hear actual experiences of the purchasing or owning, long term - of bitcoins.
Thanks guys.
You might wanna double-check anything you've read here...
Funny, I just got into crypto about a week ago. I’ve got a little bitcoin and some Raiblocks. It’s insane how much these currencies can fluctuate in a day.
I’d like to pick up some Ethereum and a couple other altcoins for fun too.
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I dibble in it. I use coinbase for my transactions and such. I'm no diehard, but I have made way more money than I have spent on it all. cant complain. bit of bitcoin bit of litecoin and smaller bit of eth. I keep finding myself wanting to purchase with it. More and more places are accepting of it as time passes. Rapidled for example, they accept bitcoin.
I dibble in it. I use coinbase for my transactions and such. I'm no diehard, but I have made way more money than I have spent on it all. cant complain. bit of bitcoin bit of litecoin and smaller bit of eth. I keep finding myself wanting to purchase with it. More and more places are accepting of it as time passes. Rapidled for example, they accept bitcoin.
Yeah that's pretty cool - it'll be neat if they start accepting other coins too. I use coinbase too but I cringe every time I have to send bitcoin to any exchange - the network fees are insane. I sent $80 of BTC to bitgrail today and lost $20 in fees. Jesus. There must be a better way... it's tough being in Canada though because we can only buy BTC from a few different exchanges and many of them are quite backlogged. I'm waiting on my verification from QuadrigaCX because I hear their fees are way better.
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I dibble in it. I use coinbase for my transactions and such. I'm no diehard, but I have made way more money than I have spent on it all. cant complain. bit of bitcoin bit of litecoin and smaller bit of eth. I keep finding myself wanting to purchase with it. More and more places are accepting of it as time passes. Rapidled for example, they accept bitcoin.
Yeah that's pretty cool - it'll be neat if they start accepting other coins too. I use coinbase too but I cringe every time I have to send bitcoin to any exchange - the network fees are insane. I sent $80 of BTC to bitgrail today and lost $20 in fees. Jesus. There must be a better way... it's tough being in Canada though because we can only buy BTC from a few different exchanges and many of them are quite backlogged. I'm waiting on my verification from QuadrigaCX because I hear their fees are way better.
Coinbase supposedly has another sister website or something that's more focused on more rapid exchanges. Yea I pretty much agree. I probably would have chosen a different option but that's what my crypto freak buddy that got me into this crap uses so that is where I began.
Since we're into gardening, it would only be apt to reference the tulip craze.
The value fluctuations turn it nearly useless as a currency, and as a commodity it's highly dubious. Many people are into gambling, which is fine too. As with a casino, don't gamble any more than you're ready to lose.
