A teen is given $1K to invest into Bitcoin - what would you recommend for them? - page 8.

teddy5145

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Quote from: xavier77 on March 18, 2016, 12:29:56 PM

I would recommend him to Giveaway 50$, invest 200$ and gamble 300$ keep the 450$ safe

Introduce a teen to a gambling where his mental is still not stable and easily to get addicted
Yea, what could go wrong Roll Eyes

I've set my foot on gambling and it was a bad experience, it took me pretty hard to get off my addiction
So yea, worst advice and i hope no one will follow your advice Tongue

Gambling doesn't bring you profit most of them time, only misery Wink

beerlover

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Quote from: SebastianJu on March 18, 2016, 03:19:27 PM

Quote from: xavier77 on March 18, 2016, 12:29:56 PM

I would recommend him to Giveaway 50$, invest 200$ and gamble 300$ keep the 450$ safe

Worst advice in the thread yet. Give and gamble away alreay $350 without any use from that. Investing... well, it will be lost in 99.9% too. Not only half of it would stay.

Yeah giving and gambling is already counted in lose, Only holding will give some benefit at the price increase with halving while if he/she is expert in some business then he/she will not that amount also.

lixer

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Quote from: bitgolden on March 19, 2016, 02:04:34 PM

Quote from: rienelber on March 18, 2016, 12:32:32 PM

Well, I believe the best and safest way is just by holding it and wait til the price increase, because the teen wouldn't lose anything and the price would definitely increase...

If the teenager is new to bitcoin and do not know that how and where to invest it then definitely he/she have to hold them as for them it is the only way of investment and to increase it.

It is true that he/she have to hold their bitcoin but at the same time they have to give some time to learn about the price strategy of bitcoin and its trading, so that in time when there is insecurity of price drop they will secure their money.

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Quote from: rienelber on March 18, 2016, 12:32:32 PM

Well, I believe the best and safest way is just by holding it and wait til the price increase, because the teen wouldn't lose anything and the price would definitely increase...

If the teenager is new to bitcoin and do not know that how and where to invest it then definitely he/she have to hold them as for them it is the only way of investment and to increase it.

DimensionZ

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Shit, did I leave the stove on?

If he is given $1000 for free he shouldn't invest anything he is generally receiving a gift of 1 grand. If he is wise he should just put it in a wallet and let it stay there because the price will certainly rise and thus provide a higher interest rate than if he is using a savings account worry-free!

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Quote from: kyrios_ on March 19, 2016, 01:35:42 PM

Quote from: kingaltcoins on March 19, 2016, 01:33:10 PM

I would suggest you not to encourage investing in bitcoin. This is because he is a teenager and he will probably end up getting scammed by some hyip schemes which he might think as legit after his first look into it.

In case he knows more about bitcoin and is kinda amateur then he might try out investing in some cloud mining contracts like hashnest. It seems preety safe to me as of now.

Hashnest prices kinda high now. Doubt he will get ROI unless he trades it smartly

When block halving happens in 5 months then those contracts suddenly will be worth much less. I guess people will try to dump their contracts in masses shortly before halving. Maybe some of them are stupid and sell in panic way lower than block halving makes sense.

kyrios_

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Quote from: kingaltcoins on March 19, 2016, 01:33:10 PM

I would suggest you not to encourage investing in bitcoin. This is because he is a teenager and he will probably end up getting scammed by some hyip schemes which he might think as legit after his first look into it.

In case he knows more about bitcoin and is kinda amateur then he might try out investing in some cloud mining contracts like hashnest. It seems preety safe to me as of now.

Hashnest prices kinda high now. Doubt he will get ROI unless he trades it smartly

kingaltcoins

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I would suggest you not to encourage investing in bitcoin. This is because he is a teenager and he will probably end up getting scammed by some hyip schemes which he might think as legit after his first look into it.

In case he knows more about bitcoin and is kinda amateur then he might try out investing in some cloud mining contracts like hashnest. It seems preety safe to me as of now.

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Quote from: CasioK on March 19, 2016, 11:13:01 AM

Quote from: lottery248 on March 18, 2016, 08:25:12 AM

the better method to invest, is to save all of the bitcoin bought, do not move any bitcoin. why? because the world of bitcoins are full of (probable) scam.

Yes, 1k US dollars are very big amount. The teen can start a good bussiness with 1k$ . If he wan't to do something online then I think he should try web business because with web business he can get his 1k$ in only 3 or 4 month if he work with dedication and keep focus on his work.

What web business do you have in mind so that you can state such special numbers? I think it must be something special to reach that.

CasioK

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Quote from: lottery248 on March 18, 2016, 08:25:12 AM

the better method to invest, is to save all of the bitcoin bought, do not move any bitcoin. why? because the world of bitcoins are full of (probable) scam.

Yes, 1k US dollars are very big amount. The teen can start a good bussiness with 1k$ . If he wan't to do something online then I think he should try web business because with web business he can get his 1k$ in only 3 or 4 month if he work with dedication and keep focus on his work.

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Quote from: Inauk on March 19, 2016, 06:15:39 AM

Quote from: Hocapoca on March 15, 2016, 04:58:52 PM

Let's say a young teenager is given some coming-of-age money from their family, and is interested in growing that money through Bitcoin. Without encouraging him/her to invest in risky strategies, what are some lower risk methods of growing a Bitcoin portfolio with a hypothetical gift of $1K?

there is no safe methods, thats the first and most important rule to understand, but if you ask me, i suggest you to hold your btc, we are into an important halving year, so maybe in a "short" time thats the best thing you can do.

Sad but true. Most early adopters had to learn that the hard way. Roll Eyes

The thing someone has to keep in mind way more than any yearly return that sounds nicely high is... you lose all your investment when investing. Instantly. And it is not the question if you get the yearly profit on top... the way more important question is if you get your investment, that you already lost then, back.

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Quote from: Hocapoca on March 15, 2016, 04:58:52 PM

Let's say a young teenager is given some coming-of-age money from their family, and is interested in growing that money through Bitcoin. Without encouraging him/her to invest in risky strategies, what are some lower risk methods of growing a Bitcoin portfolio with a hypothetical gift of $1K?

there is no safe methods, thats the first and most important rule to understand, but if you ask me, i suggest you to hold your btc, we are into an important halving year, so maybe in a "short" time thats the best thing you can do.

richmcrich

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I think just investing a small amount of it in bitcoin is a good strategy and holding some as USD in a good exchange and waiting for the good time to buy bitcoin at to get the most possible bitcoins for there USD.

honeyhtet

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Investing all the 1K in BTC and keeping them for a price increase, or maybe buying some mining equipment's with it if there price become favorable "with just some of it of course".

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Quote from: xavier77 on March 18, 2016, 12:29:56 PM

I would recommend him to Giveaway 50$, invest 200$ and gamble 300$ keep the 450$ safe

Worst advice in the thread yet. Give and gamble away alreay $350 without any use from that. Investing... well, it will be lost in 99.9% too. Not only half of it would stay.

ahpku

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>A teen is given $1K to invest into Bitcoin - what would you recommend for them?

Run, kid. Run!

Not even once.

rienelber

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Well, I believe the best and safest way is just by holding it and wait til the price increase, because the teen wouldn't lose anything and the price would definitely increase...

xavier77

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Xavier

I would recommend him to Giveaway 50$, invest 200$ and gamble 300$ keep the 450$ safe
Let's say a young teenager is given some coming-of-age money from their family, and is interested in growing that money through Bitcoin.
Without encouraging him/her to invest in risky strategies, what are some safe methods of growing a Bitcoin portfolio with a hypothetical gift of $1K?

Others may come along with more helpful information,
but there are basically two types of investments with bitcoin, IMO:

1) Risk Investments (lending, ponzis, gambling, altcoin trading, btc trading, chinese online wallets give interest (may be scams IDK) etc)
2) Holding Investments (just hold for a decade or two and profit)

If there were truly safe methods of actually growing your btc, I want to know as well.
The best that a noob can do is 2). A noob is just not going to understand what is a scam in the crypto world, you need to be around for a long time to start feeling the dynamics in order to take high risks and profit from pump and dump shitcoins and whatnot, which are great to get BTC quick, but the risk is way too high. So just buy and hold until you have been here for at least a year and daily reading and research.

Akupuniard

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Buy & Hold is the best strategy i think.. but need to do this before halving. After halving honestly price will increase and he can get instant profit

Altcoinsupporter

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Quote from: CoinSiteDesigner on March 18, 2016, 09:24:03 AM

1. Buy

2. Hold

3. Forget for a few years (atleast until 2020)

4. Come back, take your profit Tongue

It would be a good thing to do but a teen does not have the patience for this in most cases at least.
I thing you should just buy them now and cash them out at the end of this year.

Topic: A teen is given $1K to invest into Bitcoin - what would you recommend for them? - page 8. (Read 9592 times)