Topic: Anyone else buying Bitcoins now and holding for the long term? -11/20/2013 (Read 550 times)

i heard about bitcoin back in early 2012 and didnt really act upon it - something which i am truly regretting now. bitcoin is here to stay for the long haul but i really wouldnt speculate with any of my savings right now (considering how bad the exchange rate of my local currency is against the USD  )
i`m trying to get in on the action but the bounties/tasks really don`t seem to be as free flowing as before. or maybe i`m just not looking hard enough ?!? any pointers are most welcome

I plan on buying a couple now and see how it goes. I am holding most for the long term and try the markets with some to get experience in trading. If I have things to sell I always offer a discount to people if they pay me in BTC to try and get the word out more as it needs to be used.

i invested up to 50 btc which i bought as a seller from a customer at 135 usd now its sold above 50 so the gains are much.
i am also selling out some 30 bitcoins at low rate.
it may go down in rate but we hope it hits 1000 usd by december.
Thanks.

There is speculation that bitcoin may be a game changer for the entire world. And i'd say that's reasonable to assume if you understand how this currency works, the people that do seem to believe so, and how much of an improvement this is compared to the problems of regular fiat currency. This is slowly becoming big in China and their government is embracing it, along with other Asian countries like Japan and Singapore. This is good news because if the US does not adopt this currency in some way then we will be behind in technology and innovation compared to other countries, and a lot of startups and businesses that benefit from bitcoins will simply move. It's being recognized all over the world and I do think this type of currency will be the future. I'm only worried if it will be bitcoin or some other alternative virtual currency that will take the lead... so far bitcoin seems to be the main player and it is building its network rapidly.

The first time I heard about bitcoin was when I was browsing the Silk Road back in March. I just associated bitcoin as something shady and illegal and brushed it off. Now that I learned about it I realized its true potential... and I feel like most people still don't know enough about it and associate it with Silk Road. The reason criminals used bitcoins is because they realized early on its potential and took advantage of its fast, private and more secure payment method. If you heard the senate hearings on Monday and Tuesday, there was a lot of positive light on bitcoins, the few who were against it simply did not understand how it works and it was obvious from their arguments.

Anyway, I bought 10 BTCs for $6900 on Monday. I'm probably down around $2gs by now because of the dip in the market...and it'll probably go down more. But I am pretty optimistic about it for the long run.. I want to see how far this goes in 2 years. From what I understand so far, this is one of those risks where either your money will explode and increase exponentially over the coming years, or you lose everything. I rather do this than sit on stocks for 5 years and be lucky to even get 10% gains. Anyone else buying them at mid $500-700 range and holding? I guess I'm trying to get reassurance that I didn't just dump my entire savings

Btw- I really just want input and opinions from people who have done their research on bitcoins. If you are completely unaware the following resources below will help, just do some research on your own, I think it's worth it..


https://en.bitcoin.it/wiki/Myths#Bitcoin_is_just_like_all_other_digital_currencies.3B_nothing_new

http://www.youtube.com/watch?v=w4HGVJjqDVk
http://www.youtube.com/watch?v=K7LQu-eIOO0
http://www.youtube.com/watch?v=v0UxTVNrsmk

coinbase.com --if you want to buy BTCs