Bitcoin is a good way to store money? - page 2.

richardsNY

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Quote from: Mokuton on September 10, 2016, 10:12:50 PM

I think any BTC bought under $600 is good storage. Sure there will be fluctuations but BTC has been proven resilient through the time of its life, and with possibility of a great increase in price then it's a plus. Way better than storing it in banks

Even at the current price Bitcoin is a good buy. But it also depends on whether or not you are planning to use it as a long term investment. If that's the case, then definitely buy some today, and keep the coins untouched for at least a year. That's the absolute minimum I see as a long term investment.

Mokuton

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I think any BTC bought under $600 is good storage. Sure there will be fluctuations but BTC has been proven resilient through the time of its life, and with possibility of a great increase in price then it's a plus. Way better than storing it in banks

Foref1982

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No, bitcoin is not a good way to store your money because its price is far from stable. A good way to store money should have very stable price like gold or some national fiat currencies.

Xester

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Well, yes it is because if the price goes up then it is like you put your money in the bank. It grows just like having an interest. But of course, there is a risk. If the price goes down and so your money. Maybe you could keep some and invest or trade soke of your bitcoins.

ekoice

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Yes Bitcoin is a good investment since it has a great future and it is called the future of currency. Meanwhile, prices are expected to go high in 2017.

numismatist

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Quote from: Sweetbtc on September 09, 2016, 02:20:20 PM

It depends on how you define storage. If you are talking about weeks or months, even longer, then depending on the method or wallet that you use, you should be good.

On the long range, there is gold coins, most obviously.

In a midrange, stick with money bills.

For the adventure right now, go for Bitcoin. It's future is still uncharted territory.

SquallLeonhart

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Quote from: danherbias07 on September 10, 2016, 09:09:06 AM

Quote from: btc-facebook on September 10, 2016, 08:22:17 AM

Yes, investing money into bitcoin may become good advantage if we compare with gold or diamond.
Let say for example : you're house got robbed but luckily you're save nothing valuable in your house because you're investing bitcoin !

Gold. Many have been investing in here since it is a long term investment.
The question is are we patient enough to submit to a waiting time?
That is why some still prefer bitcoin. Not a lot of work plus it is a faster fluctuation.

But sometimes it may go the other way too, bitcoin is an risky investment to make as we cannot be sure that price will always keep on rising in future, it may fall to extreme level too.

iqlimasyadiqa

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if you want financial security then it's not. because if you have bitcoin exposed to hacking then you can not take back your bitcoin.
for more secure, you can choose BANK. BANK give a stronger guarantee because they are governed by a financial institution designated by the government.

danherbias07

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Quote from: btc-facebook on September 10, 2016, 08:22:17 AM

Yes, investing money into bitcoin may become good advantage if we compare with gold or diamond.
Let say for example : you're house got robbed but luckily you're save nothing valuable in your house because you're investing bitcoin !

Gold. Many have been investing in here since it is a long term investment.
The question is are we patient enough to submit to a waiting time?
That is why some still prefer bitcoin. Not a lot of work plus it is a faster fluctuation.

btc-facebook

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Yes, investing money into bitcoin may become good advantage if we compare with gold or diamond.
Let say for example : you're house got robbed but luckily you're save nothing valuable in your house because you're investing bitcoin !

eddyubachs

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Quote from: Oppolee on September 10, 2016, 08:05:26 AM

Quote from: terman45x on September 10, 2016, 07:54:45 AM

Quote from: Jonar21 on September 10, 2016, 07:50:20 AM

Bitcoin is a very good investment if its price will not jump, but will remain a stable currency like the real world. Because of the fact that the course is very volatile, people are afraid to invest in bitcoin.

People who knows how to take benefits of price fluctuations won't mind in investing in it even if the price is volatile as it is allowing them to make quick profits which is not possible with any other investment.

This constant need to deal with otherwise earn on exchange rates will not work. Cryptocurrency not very stable and can very quickly lose all, not even having time to celebrate the victory.

If you will never take risks then you will never make profits, no doubt investing in bitcoin is risky but that risk must be taken to get better benefits in future.

Oppolee

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Quote from: terman45x on September 10, 2016, 07:54:45 AM

Quote from: Jonar21 on September 10, 2016, 07:50:20 AM

Bitcoin is a very good investment if its price will not jump, but will remain a stable currency like the real world. Because of the fact that the course is very volatile, people are afraid to invest in bitcoin.

People who knows how to take benefits of price fluctuations won't mind in investing in it even if the price is volatile as it is allowing them to make quick profits which is not possible with any other investment.

This constant need to deal with otherwise earn on exchange rates will not work. Cryptocurrency not very stable and can very quickly lose all, not even having time to celebrate the victory.

terman45x

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Quote from: Jonar21 on September 10, 2016, 07:50:20 AM

Bitcoin is a very good investment if its price will not jump, but will remain a stable currency like the real world. Because of the fact that the course is very volatile, people are afraid to invest in bitcoin.

People who knows how to take benefits of price fluctuations won't mind in investing in it even if the price is volatile as it is allowing them to make quick profits which is not possible with any other investment.

randy8777

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Quote from: Qunenin on September 10, 2016, 05:06:59 AM

Quote from: 1Referee on September 10, 2016, 02:28:42 AM

Quote from: Sweetbtc on September 10, 2016, 02:02:47 AM

If you are talking about overnight, then you will lose funds on both the transfer in and the transfer out, which is also true of the longer periods, but I should think that in ten years that would be overcome by the increased value.

Can you be a bit more clear here? Are you talking about the fee that you need to pay for purchasing the coins, and then the fee to sell the coins at a later period? If that's the case, then it's a very small fee barely worth mentioning. You can buy yourself some coins as low as 0.2% per transaction.

Let's say you have $1000 that you want to store in BTC, then the fee of both buying and the eventual selling, will be just 0.4% or $4 in total.

Depending on the amount that is being stored, these fees are pretty small, but if you are trying to move and store something like 0.005, then you could lose a larger percentage than you would want in short term storage.

are you talking about the fee that exchanges charge, or the transaction fees to move the coins to your wallet? if first case, then the fees are identical. if second case, then the recommended fee of 0.0001btc is a lot more severe for low valuw transactions like 0.005btc, compared to for example 5btc.

Jonar21

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Bitcoin is a very good investment if its price will not jump, but will remain a stable currency like the real world. Because of the fact that the course is very volatile, people are afraid to invest in bitcoin.

PeRo

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There is no guarantee that the price will stay stable , so you would be storing your hard earned money with a risk, and a high one, I would rather look at that like an investment, not just storing money like in a safe, the money can be worthless or worth millions by tomorrow, who knows? I would stay storing in fiat though, if I do not want to risk and invest my money.

shinratensei_

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Quote from: Sweetbtc on September 09, 2016, 02:20:20 PM

Quote from: bravehearth0319 on September 08, 2016, 04:13:38 AM

Quote from: Woshib on September 01, 2016, 10:57:01 AM

Bitcoin is just a good way to invest your money?
Or we can also store our money there, if the price stay stable?
What do you thing about this?

What more can I say about this question? It is more generalize reason of most member here in this forum. Like me I joined here Because I believe I can store securely my savings which is Bitcoin. While storing it/holding it, I will sell it once the price is really stable.

It depends on how you define storage. If you are talking about weeks or months, even longer, then depending on the method or wallet that you use, you should be good.

There is no any answer for this because the answer just depends on the perception of every person and I just seeing the answer is vague.

Qunenin

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Quote from: 1Referee on September 10, 2016, 02:28:42 AM

Quote from: Sweetbtc on September 10, 2016, 02:02:47 AM

If you are talking about overnight, then you will lose funds on both the transfer in and the transfer out, which is also true of the longer periods, but I should think that in ten years that would be overcome by the increased value.

Can you be a bit more clear here? Are you talking about the fee that you need to pay for purchasing the coins, and then the fee to sell the coins at a later period? If that's the case, then it's a very small fee barely worth mentioning. You can buy yourself some coins as low as 0.2% per transaction.

Let's say you have $1000 that you want to store in BTC, then the fee of both buying and the eventual selling, will be just 0.4% or $4 in total.

Depending on the amount that is being stored, these fees are pretty small, but if you are trying to move and store something like 0.005, then you could lose a larger percentage than you would want in short term storage.

tabas

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Quote from: Sweetbtc on September 09, 2016, 02:20:20 PM

Quote from: bravehearth0319 on September 08, 2016, 04:13:38 AM

Quote from: Woshib on September 01, 2016, 10:57:01 AM

Bitcoin is just a good way to invest your money?
Or we can also store our money there, if the price stay stable?
What do you thing about this?

What more can I say about this question? It is more generalize reason of most member here in this forum. Like me I joined here Because I believe I can store securely my savings which is Bitcoin. While storing it/holding it, I will sell it once the price is really stable.

It depends on how you define storage. If you are talking about weeks or months, even longer, then depending on the method or wallet that you use, you should be good.

For me regardless the storage that you are going to use if you are just going to be smart on how you are going to use your money / bitcoin then you are going to do it in an effective way. What is I'm doing is that every time that I'm accepting fiat money from different sources I'm going immediately to the bank and depositing it as soon as possible.

1Referee

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Quote from: Sweetbtc on September 10, 2016, 02:02:47 AM

If you are talking about overnight, then you will lose funds on both the transfer in and the transfer out, which is also true of the longer periods, but I should think that in ten years that would be overcome by the increased value.

Can you be a bit more clear here? Are you talking about the fee that you need to pay for purchasing the coins, and then the fee to sell the coins at a later period? If that's the case, then it's a very small fee barely worth mentioning. You can buy yourself some coins as low as 0.2% per transaction.

Let's say you have $1000 that you want to store in BTC, then the fee of both buying and the eventual selling, will be just 0.4% or $4 in total.

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