A teen is given $1K to invest into Bitcoin - what would you recommend for them? - page 9.

BitcoinHodler

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HODLing is an art, not just a word...

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

this is what i would do but with a little difference in the third step.

bitcoin market is such an active market, always changing which makes it a good place for making some more money, so i would keep an eye on the price and maybe do some small trading daily on the side.

but still hodl the majority of my coins since i am a BitcoinHodler Cool

SebastianJu

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Quote from: Niemands on March 18, 2016, 08:07:31 AM

Quote from: Herbert2020 on March 18, 2016, 06:08:49 AM

Quote from: Niemands on March 18, 2016, 05:47:04 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?

I would say buy a decent gpu or two, it will be good for gaming anyway Wink

i agree. this is a good option.
this would be two birds with one stone. he can use it for gaming and also there is always option for mining, of course mining altcoins is what i mean. it requires some searching for the best option and selling the mined coins at good prices for profit.

Yeah, that's exactly what I meant! Cool

And that's why I love mining and hate those ICOs/IPOs

Is it really a good option? Will the return on mining be higher than gpu (and maybe other computer part-) costs and electricity comes back? I think there are users with gpu-farms that don't have the gpu in a computer so they run way more efficient. I doubt that a normal pc-user can compete and still make a profit.

And I don't think it was meant as using free electricity because the parents don't care. Cheesy

eternalgloom

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Quote from: Herbert2020 on March 18, 2016, 06:08:49 AM

Quote from: Niemands on March 18, 2016, 05:47:04 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?

I would say buy a decent gpu or two, it will be good for gaming anyway Wink

i agree. this is a good option.
this would be two birds with one stone. he can use it for gaming and also there is always option for mining, of course mining altcoins is what i mean. it requires some searching for the best option and selling the mined coins at good prices for profit.

Not sure if that's the best investment for a teenager, will end up spending all of his time gaming Cheesy

And mining altcoins is also pretty risky, will take a long time to see any ROI, if you get any..

I would just buy some bitcoins with that money and save half of those bitcoins and invest with the rest. I'd try investing in reputable gambling sites for short periods of time and save any profits that you get and withdraw your principal after a relatively short time to reduce the risk.

CoinSiteDesigner

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1. Buy

2. Hold

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

4. Come back, take your profit Tongue

rinhunter

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Buy $1K Bitcoin, an use partly for trade and partly for hold.
but when it comes to teen, i think he will be tempted to play gambling. Cheesy

lottery248

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beware of your keys.

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.

orryde

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Re-Evolution

This is a simple one.
Just buy and hold till he's 40.
Then he can probably retire.
He'll have to work for the next 20+ years of his life but it will all be worth it when at 40 he retires.
with a little over 2 btc valued at over $65 million.
Grin

thejaytiesto

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Pretty easy, put 90% on Bitcoin right now, it's pretty much guaranteed you will have more money by the halvening. Then you put the remaining 10% in some altcoin and pray that the crypto gods give you a good pump for some extra BTC.

Hide_ip112

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I think, she should use those funds to play the market bitcoin, pertambanga, and the rest are gambling or investment to those who have the potential to make the Bitcoin as business fields. Because of the way the very fit and very right thing to do, because they are also very quick way to generate a profit, except gambling. due to gambling we must also have the skill and luck enough to be able to beat the gambling game system that was very aggressive. For Bitcoin market it can be done every day, because the price of Bitcoin can be changed at any time without notice and you can quickly benefit from market bitcoin. For mining and investments. You just need a little time to feel that you can get results (profit).

Niemands

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Quote from: Herbert2020 on March 18, 2016, 06:08:49 AM

Quote from: Niemands on March 18, 2016, 05:47:04 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?

I would say buy a decent gpu or two, it will be good for gaming anyway Wink

i agree. this is a good option.
this would be two birds with one stone. he can use it for gaming and also there is always option for mining, of course mining altcoins is what i mean. it requires some searching for the best option and selling the mined coins at good prices for profit.

Yeah, that's exactly what I meant! Cool

And that's why I love mining and hate those ICOs/IPOs

SebastianJu

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Quote from: jacktheking on March 17, 2016, 08:25:32 PM

Huh? I don't understand. Yes most faucets fail in a month or two. However having a unique faucet design and features will make you stand out. Hence lasting you longer. For my own site, I am on a negative profit since started 6 months ago. However, it is slowly gaining traffic everyday. I will be able break profit in a few more months.

.

*lol* I misread... Tongue

Anyway, I think it might be hard to get profits with a faucet. There are many that try to exploit it with bots and you might risk losing his affiliate account, maybe adsense. The visitors are simply not normal like on other websites.

I know there was a blog or so describing his success but it might be that he had that success only because of the viewers of his blog and/or that the blog gives the faucet linkpower and visitors through search engines too.

Herbert2020

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Quote from: Niemands on March 18, 2016, 05:47:04 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?

I would say buy a decent gpu or two, it will be good for gaming anyway Wink

i agree. this is a good option.
this would be two birds with one stone. he can use it for gaming and also there is always option for mining, of course mining altcoins is what i mean. it requires some searching for the best option and selling the mined coins at good prices for profit.

Niemands

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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?

I would say buy a decent gpu or two, it will be good for gaming anyway Wink

vrm86

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Quote from: YoonYeonghwa on March 18, 2016, 03:46:39 AM

The best way to invest is definitely to go to cloud mining or something like that, a safe, trusted investment website, and eventually get a profit. Gambling/ponzi schemes are very volatile and there is a high chance of just going bust.

I'd rather stay away from cloud mining. It could be profitable ony when trading hashing power, but you can trade bitcoins directly that would be better idea. Especially long term mining contracts look promising only at the beginning.

YoonYeonghwa

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The best way to invest is definitely to go to cloud mining or something like that, a safe, trusted investment website, and eventually get a profit. Gambling/ponzi schemes are very volatile and there is a high chance of just going bust.

MaxTax

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Quote from: romero121 on March 18, 2016, 03:08:03 AM

Quote from: coinplus on March 17, 2016, 04:56:23 AM

Quote from: a7mos on March 16, 2016, 03:00:46 AM

If this teen is from America, he can buy things from purse.io by bitcoin with the discount they offer and then sell them locally for their full price. this will be a good arbitrage trade with not mush risk

Wow! nice Idea, it is a kind of attractive job and it not need any special skill and experience to start it, as nowadays everyone is well expert in buying and selling, if it proved successful then he/she can open his/her shop with it.

No skill is required, but only if the products were sold its profit for him or else the time delay in selling will reduce his profit.

That is a lot of money. Its hard to say. But the best thing that you can do is just have to hold and save it.
That will be the smartest choice now and that is good. I hope that more people will also have some profit from Bitcoin and that they are going to use it more.

romero121

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Vave.com - Crypto Casino

Quote from: coinplus on March 17, 2016, 04:56:23 AM

Quote from: a7mos on March 16, 2016, 03:00:46 AM

If this teen is from America, he can buy things from purse.io by bitcoin with the discount they offer and then sell them locally for their full price. this will be a good arbitrage trade with not mush risk

Wow! nice Idea, it is a kind of attractive job and it not need any special skill and experience to start it, as nowadays everyone is well expert in buying and selling, if it proved successful then he/she can open his/her shop with it.

No skill is required, but only if the products were sold its profit for him or else the time delay in selling will reduce his profit.

qiwoman2

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I would just advise him to hold 50% then find some good bitcoin startups that might have a future to invest the other half but that is still quite risky. I don't know if there is a bitcoin hedge fund around but if there was that would also be a good place to stash some bitcoin for his future.

jacktheking

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Quote from: SebastianJu on March 16, 2016, 08:00:42 AM

Quote from: jacktheking on March 16, 2016, 05:53:35 AM

I'd recommend him to start a faucet. Spend 50 USD to buy a cheap but good hosting plan. Next, 50 USD hiring a coder (assuming he/she have no programming knowledge) to code a very unique and good faucet (not off-the-shelve script). Spend another 50 USD for SEO. To rocket off the newly created faucet, put in another 50 USD for advertising. He/she should start breaking profit after giving out 100 USD to his/her faucet users. 300 USD and he can get a somewhat steady income.

.

Well I guess when he has to ask for 10 USD then he surely has no 150 USD to spend on developing and advertising a faucet service.

And I think most faucets fail. I'm not sure if it only happens because their admins are not working properly on it though.

Huh? I don't understand. Yes most faucets fail in a month or two. However having a unique faucet design and features will make you stand out. Hence lasting you longer. For my own site, I am on a negative profit since started 6 months ago. However, it is slowly gaining traffic everyday. I will be able break profit in a few more months.

.

RealPhotoshoper

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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?

is this just imagine?or in real life this is happen?
lets say its really happen,i would suggest that teenager for keep his bitcoins in wallet,and wait for price increase,i think this is the simple way to get profit,teenager is not too smart for trading or choosing legit investement site or place.

Topic: A teen is given $1K to invest into Bitcoin - what would you recommend for them? - page 9. (Read 9592 times)