Hello.
im starting out in the bitcoin world and i want to ask you somethings:
1. do you use it mainly to make money?
2. how do you make money out of it? mining or buy&sell the coins?
3. how often are the big jumps in value? like 50$ differences.
4. is there any official value? or do i need to go by what sits like bitstamp says? (131$)
5. how much money do you usually make from buying and selling? im planing on starting with a small amount. like 3 bitcoins.
6. how risky is it? its not like the value drops allot for a long time so there isnt really a risk, especially if im going to mess with 3 coins... (?)
thanks.
im starting out in the bitcoin world and i want to ask you somethings:
1. do you use it mainly to make money?
2. how do you make money out of it? mining or buy&sell the coins?
3. how often are the big jumps in value? like 50$ differences.
4. is there any official value? or do i need to go by what sits like bitstamp says? (131$)
5. how much money do you usually make from buying and selling? im planing on starting with a small amount. like 3 bitcoins.
6. how risky is it? its not like the value drops allot for a long time so there isnt really a risk, especially if im going to mess with 3 coins... (?)
thanks.
1. You use it as money.
2. You can speculate on Bitcoin to make money, or hold it and allow it to appreciate on its own.
3. Earlier this year, Bitcoin was roughly $10; if by often you mean, how often daily, usually it's stable daily. Monthly, not so much, but after it dipped to 60 and came back to 100, it has been steadily rising. See the various BTC charts to see this illustrated.
4. The official value is whatever value you assign to your Bitcoin, and however much someone might trade you for it. If someone wants to pay you $1000 for your one Bitcoin, and you accept that, then that's the official value. The markets only show what people are generally buying and selling at, which can go up and down; there's a whole study of this known as economics.
5. You're basically gambling, so nobody can say how much you'll earn vs. how much you'll lose through speculation.
6. How good are you at gambling?
