Topic: Bitcoin (Read 315 times)

Let me also add more information to the question 2 and 3. Like me I am investing $30 and above every month but if you don't have money like that you can be investing less whenever you have money through the DCA method so that you won't bother yourself much to invest with a specific capital to kick start. Bitcoin investment is one of the nice business to do with a small capital as $5 and above. But the more you buy the more profit you have whenever the price rises.
Then as for the third question though I am not a miner but a good knowledge is needed and not a basic knowledge. It is only in the investment that you need the basic knowledge but not on the mining. If you are 10 years and you have the expertise knowledge of mining then you can mine. But don't rush into any of them but study them for sometimes.

It will totally depend on you. There is no rule to invest in bitcoins that you have to buy bitcoins with so much money. You don't have to buy 1 bitcoin, you can invest as per your ability. Now not everyone has the ability to buy bitcoins with a lot of money, so if you slowly invest as much as possible in the DCA method, you will see that the investment amount will be quite large at some point. So keep investing in DCA method as much as you can. And remember to invest as much as you can afford to lose.

For now you don't need to mine bitcoin as the process is becoming harder. You just need to buy bitcoin and store for future porpos.

You can Start as low as $10 through DCA strategy. And That is if you have something that gives you income on a regular basis. Either weekly or monthly to be able to keep up the investment.

For me I would say 15 years is ok provided you have started seeing money. Afterall there are rich celebrity kid who are not upto 15 years and yet they are rich. I will even say even if you are 12 years but your are financially strong then you are good to go, because investment is not about age but being financially capable to invest. Except such person doesn't have money at tender age then they can invest when they are 15 to 17 years above.  When they have started seeing money.

The money that you know that you are one hundred percent certain that it is lost to fall in bitcoin price you are emotionally, financially, and physically prepared to deal with it. The range could be from anywhere 3% - 10% of whatever inflow of cash you receive. The word inflow of cash could refer to anything from income, cash gifts, profits on a business etc.

This investment in bitcoin could be every day, week, month, they are not cast in stone therefore the choice is up to you to choose the frequency of your investment. There are people who are raising the bar higher and putting a 100% of their savings into bitcoin. But I got this advice from franky1 yesterday which is worth sharing with you just for you to keep in mind.

How to mine bitcoin requires special software and hardware as well as large electrical power, so you can't use the PC that is used at home. Mining Bitcoin is not as easy as it seems because mining bitcoin is a process of solving complex mathematical problems.

Depending on the funds you have and are ready to bear the loss, there is no specific nominal in Bitcoin investment because you can buy Bitcoin in small units (Satoshi).

Age is not a benchmark, knowledge plays the most important role in starting Bitcoin investment, as long as you understand the steps to invest safely, you can do it at any age.

These questions are very good questions for a beginner that is ready to go into Bitcoin and cryptocurrency in general, so that you will have proper knowledge about Bitcoin and cryptocurrency.

If you go through the response of this thread, I think all the necessary steps are been listed, and some important materials are also recommended; if you lead read them well you wil get to know Bitcoin very well and how it works.

On the amount to invest; make sure you only invest any money you can afford to lose, do not take loan to invest in Bitcoin, and moreover, you can also be investing particularly using the DCA in order to accumulate more Bitcoin at any price range.

To your first question. You can get more resourceful informations from this board dedicated to bitcoin mining  https://bitcointalk.org/index.php?board=14.0

Secondly, there's no specific amount you must start with in your bitcoin investment, except you're talking about bitcoin mining which I know is somehow capital intensive to start with.

For your third, you can get the answers to that carefully making use of the link I provided you.

I don't have much experience in mining, but I know it's not profitable anymore unless you have cheap energy resources.

The bare minimum you can still do... doing it all at once is fine if you have a lot of money.

Age? Is there a limit?
You can do underage if you understand mining.

Since you are new here, it would not be suitable for you to think about mining at first because you need enough knowledge to do mining; you will need to know a lot about Bitcoin. And for mining, you will need different equipment, which is very expensive at present, so since you are new, it would be better not to avoid doing anything like that about your mining. You should learn well first and decide what you will do next. However, there are some important posts on the forum to learn about mining; please see the link I am sharing. Refrain from thinking about mining in a new situation; learn well first and do what is best for you later.

There is no specific amount mentioned for investing in Bitcoin. Or there is no need to invest by mentioning a specific amount. There is a golden opportunity to invest in Bitcoin, you can invest as much as you can afford. No one will come to tell you anything here, you can buy as much as you like. You can invest at your convenience; there will be no problem with Bitcoin.

No age matters for mining Bitcoin. If you have enough knowledge about Bitcoin, then you can be ready to mine. To do this, it is actually important to have knowledge about Bitcoin. First, learn about Bitcoin; such steps can be taken later.

Your topic title is shitty, you can certainly do better.

1. Forget about mining, that's my honest opinion. You would need to have access to extremely cheap energy to even have a chance of mining with profit over a longer time. And I'm not talking of cheap or "free" energy that someone else has to pay for (like your parents?).

Mining difficulty is still on a raising trend, so your mining gear is earning steadily less and less. If you don't understand why this is, you have no understanding of mining at all. So... stay away from it.

You get more Bitcoin if you buy it than invest in mining gear to mine it. Your mining gear becomes non-profitable pretty quickly, something that newbies to mining oversee.

I generalize a lot and won't go into much detail. Do your own research before you invest.


2. I would advise to invest what you can spare and afford to loose. You should also invest only the money you already own. Better not borrow money to invest in crypto. This is in many cases a recipe for desaster.


3. If you have to ask this question, I wonder what age you are. Technically Bitcoin mining doesn't care about age, legally it could be different in your country or when you have to register an account on an exchange (which usually ask for mandatory KYC) to convert Bitcoins to fiat to pay your energy bills or when you have to buy mining gear.

The title is too generic, you should have done better.
Also as!
Is bitcoin mining still profitable?

If you have a million dollar in your fiat account, will you also bother investing in Bitcoin? As a newbie, follow the rule - invest only what you can afford to lose.

How did you know that you are upto the age of using this forum?

You mine by getting a pick axe, digger and shovel then, you look for a place with rocky formation and dig. Eventually, you would fine something shinny, scan it and have it logged on the blockchain for circulation and there you have it.
Okay, just playing here. You need none of these to mine Bitcoin. Just a mining rig would do.

Maybe you would have to look that up at the ATH to get 1BTC because it’s important that you do.
lol… don’t mind me, I’m just playing with you. You don’t have to get the Bitcoin first, you can build your portfolio sat by sat until you get the Bitcoin you so desire. The amount you’ve got for spare money would do. Periodic buys do help.

Just a little bit above 40years of age. Where your no longer being prejudiced or looked at to be doing something fraudulent in most case, lol…
Okay, I’m kidding, you don’t have to be of any age to do any of these things or take up and investment. Once you feel you can handle it, you get things going.

You must have capital to mine bitcoin, if you only have a few tools then it will not cover the operational costs.

Many sites offer cloud mining, don't believe it is usually a scam.

For $10 you can invest in bitcoin. Do DCA to increase your coins.
People start with small amounts, then increase to big.

What I know is that there is no minimum age limit, if you understand mining you can start.

1. For you to have an idea: https://www.asicminervalue.com/
2. With the hardware or by just buying Bitcoin? If it's the latter, any amount will do depending on your capacity. Make sure you understand what Bitcoin is first before investing. But if it's about buying the hardware, it will cost you a lot. I mean truly a lot.
3. Anyone can do as long as you have the miner but it's not recommended when you're new to it. Buying and holding Bitcoin is much simpler and easier.

Investing in Bitcoin isn't age limited, it isn't really capital intensive except you are looking forward to a one time form of investment, this is why the DCA strategy is always been mentioned most often on this forum because it's been proven to be one of the best methods to accumulate Bitcoin over a period of time, both in small units and in bulk units, it a depends on your financial strength and as for mining it's a whole thread of discussion on its own , solid you check on the Bitcoin thread, you will find discussion, in that regards that will be of help to you.

I don't want to highlight mining in this case because I think it's not my realm which for now I'm not a miner and don't have further knowledge for this but I will answer about the second point in this case. I think we know that in the end everyone has their own desires, has their own mindset and has their own financial condition and it's all different from one another. So when we are asked how much money we need to invest in bitcoin, the answer will certainly vary because it adjusts to the capabilities of each.

What needs to be emphasized in this case is as long as you are able to invest and how much your readiness is at risk including being ready to lose then that's how much money you can invest in bitcoin. Regardless of people's input by having to be in bitcoin as much as possible as long as you are not able to accept the risk then do not be forced because you know your financial strength and condition so do not let when the hype is high you become a fomo who is not ready for all conditions and the worst possibilities when in bitcoin.

If you are concerned about ways to get bitcoins, mining is not the only option for you. Mining is cost-intensive.

Unlike other investments where you must have a certain sum to invest, investing in bitcoin can start with what you have while you work to get more to invest with.

If it must be mining, you should start at the age where you can understand the basic concepts and technical requirements.

It's complicated, you can start by reading
Bitcoin information and resources.
Bitcoin mining resources.

You can ask questions in Mining board.

Slim chance, but individual mines can try NERDMINER: Bitcoin lottery miners.

To help you understand better and easier, I think you can easily find these answers right on youtube or google without spending too much time. Here people can explain to you but I don't think people can explain in detail and you can understand thoroughly. So, with basic knowledge for beginners, I think searching on youtube will be more intuitive because there will be many videos with images and very detailed explanations to help beginners absorb faster.

I have a cousin and his son doing bitcoin mining but his 14 or 15, he was thought by my cousin to do or process the mining process of bitcoin, does it mean he is violating something? Can I ask where you see this age limit? I am living in the Philippines but I am not sure if theres some rules regarding this.

First of all, at least you have to give a clear title, regarding your three questions I will give answers one by one according to your question number.

My answer:

1. You can try to mine Bitcoin using a mining pool, where this mining pool is uniting all the computing power into one pool. Because if you try to mine without this pool, i think it is very difficult or even almost impossible to get rewards, cmiiw.

2. You can invest in any amount of money, even like 10$. However, if you want to get more profit then you should try to invest more, and you should also know that you can experience significant profits and losses as well. the point is you have to know about the calculation of the increase and decrease in the price of bitcoin. A simple example, if bitcoin has decreased by 5%, it means that the capital you enter will decrease by 5%, and vice versa if it increases.

3. There is no age limit for you to start mining bitcoin, anyone can do it on condition that they have to learn what mining is, and how it works, so you will know and learn the advantages and disadvantages. Because basically to do mining also requires capital.

I hope this simple answer could help.

There lots of information could be seen if you research this information online will give you a good site explain on how you could able to start https://www.forbes.com/sites/digital-assets/article/how-to-mine-bitcoin/ search for videos in youtube for sure you can also get a guide there.


I guess depends on your financial capabilities. The bigger the better but if you only have small amount willing to spend its find as long as you can afford to lose it and know the consequences also have knowledge how to deal with your investment.


if you are at legal age then you and can decide for yourself then you can invest your money on bitcoin.

1. Mining bitcoin right now would seems so hard for an individual as we have lots of high performance machines of groups or organisations that mine bitcoin so you can't compete with this organisation with your individual mining efforts so it's better you have a job and buy some bitcoin it's the best way to mine it.

In others: Mine bitcoin with your money by buying it.

2. As much as you are willing to invest that will not affect your daily survival.

3. Investment doesn't really age. everyone one can own bitcoin.

You can read this:

First time/Small miner reference for getting started.

If it is investment, you can invest as low as $50. Depending on the amount that you wish to buy. But if it is about mining, it is capital intensive and it depends on how you wish to set up the mining. Make sure you have access to cheap electricity, else do not mine.

Not about age. At least, you are above 17?

2. You don't need much; any little amount that you can spare out from your earnings can be used to invest in Bitcoin; you can start DCAing until you accumulate enough.
 
3. Investing in Bitcoin doesn't have any age limit; it's not a centralised something that needs KYC approval before you can invest in it unless you want to use a centralised exchange, which you need to be up to 18 years before you can pass their KYC so is mining bitcoin if you have all the resources to get your tools ready you can start at any age, unless the law in your country forbids it.

Hi, im totally new to bitcoin so i have a few questions and i hope some of you could answer.


1: How do i mine bitcoin?
2:How much money do i need to invest in bitcoin?
3:How old do i have to be to start mining bitcoin?



 I whould really appreciate if someone could answer these questions. Thanx