Learn how to play poker, then go on sealswithclubs.eu and quadruple your bitcoin stash.
That's what I did, but bear in mind I've played poker for many years. I'm not amazing, but I know my way around an online poker table.
Yes it's gambling, but poker is probably about 60% skill, 40% luck - a lot better than most other forms of gambling.
Topic: In Your OPINION, What is the best way to use BTC to net more BTC? (Read 3925 times)
April 21, 2014, 01:07:23 PM
Forget about the idea of you making money. In the Bitcoin economy, only mining pools make money. Rather, you earn money. Your currency increases in value simply by holding on to it.
Sounds like you are promoting "sitting on your ass" economics.
"sitting on your ass" economics.
Well yes. That is sort of what I am promoting. I hope it gets tagged with a more inspiring phrase. But maybe that one will stick.
For some, there will be a profound guilt that relatively great wealth was achieved by doing nothing - in particular not taking action to dissipate the acquired bitcoin estate. When asked about their vast stash of bitcoin, the Winkelvoss Twins respond that they still have every one of them.
But retention of the estate does not necessarily entail inaction with regard to every other aspect of Bitcoin. The twins are a good example. They appear in public to educate others about Bitcoin; they are organizing Wall Street resources to engage others in the Bitcoin Economy. And they excite the public imagination as they partner with Richard Branson to pay for space tourism via Bitcoin.
April 21, 2014, 12:46:19 PM
Using money to make more money?
This is a left over notion from the credit based economy in which the presence of inflation biases every aspect of our economic decision making. With fiat, one must use money because it will certainly be worth less in the future. Notably, you can lend it out and gain both principal and interest back. One could buy an income producing asset and realize a stream of income that will likely sum to more than the original cost.
In the Bitcoin Economy, these biases are the opposite of what one should do. Deflation is weird and we must wrap our minds around what it means. For starters, lending and credit do not work in the Bitcoin Economy. The rate of deflation for the near future is greater than the investment return that one could gain. This is obvious when examining the repeated failure of bitcoin-denominated securities.
Forget about the idea of you making money. In the Bitcoin economy, only mining pools make money. Rather, you earn money. Your currency increases in value simply by holding on to it.
Bitcoin is for saving and prudent spending upon necessities. This guideline applies to enterprises as well as individuals. Let me recast a common economic activity in Bitcoin terms to illustrate the point.
Bitcoin Household Mortgages - Not.
There are no mortgages nor long term lending in the Bitcoin Economy. Not now, probably not ever. Buy now and pay later has never really been a good idea. In the economy we are working towards, a substantial asset, whether a necessity or income-producing, is purchased on installments. You get the title for your home in exchange for a good faith promise to make periodic payments for a contracted duration of time. The amount of the payments decreases with the deflation rate, or is otherwise linked with your ability to pay. If you miss your payments, the property or collateral reverts to the seller, less the adjusted equity you have paid in.
No debt, no banks, no problems.
This is a left over notion from the credit based economy in which the presence of inflation biases every aspect of our economic decision making. With fiat, one must use money because it will certainly be worth less in the future. Notably, you can lend it out and gain both principal and interest back. One could buy an income producing asset and realize a stream of income that will likely sum to more than the original cost.
In the Bitcoin Economy, these biases are the opposite of what one should do. Deflation is weird and we must wrap our minds around what it means. For starters, lending and credit do not work in the Bitcoin Economy. The rate of deflation for the near future is greater than the investment return that one could gain. This is obvious when examining the repeated failure of bitcoin-denominated securities.
Forget about the idea of you making money. In the Bitcoin economy, only mining pools make money. Rather, you earn money. Your currency increases in value simply by holding on to it.
Bitcoin is for saving and prudent spending upon necessities. This guideline applies to enterprises as well as individuals. Let me recast a common economic activity in Bitcoin terms to illustrate the point.
Bitcoin Household Mortgages - Not.
There are no mortgages nor long term lending in the Bitcoin Economy. Not now, probably not ever. Buy now and pay later has never really been a good idea. In the economy we are working towards, a substantial asset, whether a necessity or income-producing, is purchased on installments. You get the title for your home in exchange for a good faith promise to make periodic payments for a contracted duration of time. The amount of the payments decreases with the deflation rate, or is otherwise linked with your ability to pay. If you miss your payments, the property or collateral reverts to the seller, less the adjusted equity you have paid in.
No debt, no banks, no problems.
Sounds like you are promoting "sitting on your ass" economics.
April 21, 2014, 11:27:43 AM
This would be like asking: what is the best way to use money ($ for example) to net more.
This is more like a general question about a good investment (there isn't a real right answer).
This is more like a general question about a good investment (there isn't a real right answer).
April 21, 2014, 11:18:09 AM
Using money to make more money?
This is a left over notion from the credit based economy in which the presence of inflation biases every aspect of our economic decision making. With fiat, one must use money because it will certainly be worth less in the future. Notably, you can lend it out and gain both principal and interest back. One could buy an income producing asset and realize a stream of income that will likely sum to more than the original cost.
In the Bitcoin Economy, these biases are the opposite of what one should do. Deflation is weird and we must wrap our minds around what it means. For starters, lending and credit do not work in the Bitcoin Economy. The rate of deflation for the near future is greater than the investment return that one could gain. This is obvious when examining the repeated failure of bitcoin-denominated securities.
Forget about the idea of you making money. In the Bitcoin economy, only mining pools make money. Rather, you earn money. Your currency increases in value simply by holding on to it.
Bitcoin is for saving and prudent spending upon necessities. This guideline applies to enterprises as well as individuals. Let me recast a common economic activity in Bitcoin terms to illustrate the point.
Bitcoin Household Mortgages - Not.
There are no mortgages nor long term lending in the Bitcoin Economy. Not now, probably not ever. Buy now and pay later has never really been a good idea. In the economy we are working towards, a substantial asset, whether a necessity or income-producing, is purchased on installments. You get the title for your home in exchange for a good faith promise to make periodic payments for a contracted duration of time. The amount of the payments decreases with the deflation rate, or is otherwise linked with your ability to pay. If you miss your payments, the property or collateral reverts to the seller, less the adjusted equity you have paid in.
No debt, no banks, no problems.
This is a left over notion from the credit based economy in which the presence of inflation biases every aspect of our economic decision making. With fiat, one must use money because it will certainly be worth less in the future. Notably, you can lend it out and gain both principal and interest back. One could buy an income producing asset and realize a stream of income that will likely sum to more than the original cost.
In the Bitcoin Economy, these biases are the opposite of what one should do. Deflation is weird and we must wrap our minds around what it means. For starters, lending and credit do not work in the Bitcoin Economy. The rate of deflation for the near future is greater than the investment return that one could gain. This is obvious when examining the repeated failure of bitcoin-denominated securities.
Forget about the idea of you making money. In the Bitcoin economy, only mining pools make money. Rather, you earn money. Your currency increases in value simply by holding on to it.
Bitcoin is for saving and prudent spending upon necessities. This guideline applies to enterprises as well as individuals. Let me recast a common economic activity in Bitcoin terms to illustrate the point.
Bitcoin Household Mortgages - Not.
There are no mortgages nor long term lending in the Bitcoin Economy. Not now, probably not ever. Buy now and pay later has never really been a good idea. In the economy we are working towards, a substantial asset, whether a necessity or income-producing, is purchased on installments. You get the title for your home in exchange for a good faith promise to make periodic payments for a contracted duration of time. The amount of the payments decreases with the deflation rate, or is otherwise linked with your ability to pay. If you miss your payments, the property or collateral reverts to the seller, less the adjusted equity you have paid in.
No debt, no banks, no problems.
We must discard what we previously know about currency when it comes to Bitcoin. Any currency right now has inflationary elements, simply because the supply is not limited. With Bitcoin however, the supply is limited hence it's deflationary. We've never had any sort of currency that is deflationary in nature. Gold perhaps was once currency, but now no longer, so we're so used to a currency that's inflationary in nature, that we really do not know how's a currency like if it's deflationary. Imagine if our currency is deflationary, that every dollar would be worth more tomorrow than today, how would we manage our money? The very opposite of what we're doing today: spend
April 21, 2014, 08:38:15 AM
Mining rigs.
Even if BitCoin fails, I can put them to use.
Some will argue that ASIC is only made for mining but I could talk for days about this just isn't the true.
I prefer having something solid, tangible, that I can either resell or re-use. If I can't do either or, I won't do either.
Otherwise you can look at online mining because you can start with like BTC0.01 per GH/S
Offline you have complete control and if something goes astray, you're the only one to blame.
Online you entrust the site operators to running a legit operation. However, power outages, break downs and maintenance doesn't affect your profit.
There's also Ponzi's but that's in anything related to currencies but usually those are not recommended because the results are entirely out of your control.
I do mining both on and offline, nothing else can I the recent crashes didn't fend me off, to me, BitCoin is a video game because it has nearly all aspects of other profitable video games.
The game is an IRL baby-sitting miners game lol
If going full ASIC mining is too much for your tech level then you can start with USB miners since they're pretty much plug and play; plus USB miners are relatively cheap, as low as $15 for 336MHZ or about $25 for the AntMiner U1...
Hope this helps
Even if BitCoin fails, I can put them to use.
Some will argue that ASIC is only made for mining but I could talk for days about this just isn't the true.
I prefer having something solid, tangible, that I can either resell or re-use. If I can't do either or, I won't do either.
Otherwise you can look at online mining because you can start with like BTC0.01 per GH/S
Offline you have complete control and if something goes astray, you're the only one to blame.
Online you entrust the site operators to running a legit operation. However, power outages, break downs and maintenance doesn't affect your profit.
There's also Ponzi's but that's in anything related to currencies but usually those are not recommended because the results are entirely out of your control.
I do mining both on and offline, nothing else can I the recent crashes didn't fend me off, to me, BitCoin is a video game because it has nearly all aspects of other profitable video games.
The game is an IRL baby-sitting miners game lol
If going full ASIC mining is too much for your tech level then you can start with USB miners since they're pretty much plug and play; plus USB miners are relatively cheap, as low as $15 for 336MHZ or about $25 for the AntMiner U1...
Hope this helps
April 21, 2014, 08:24:41 AM
If you are going to invest in an altcoin, do wht I do. Invest (let's say 1000$ worth of btc) when you feel it's being pumped, the minute you start to think it may drop, take back the initial 1000$ and hold your winnings for a bit longer, if you hit a big dump, you didn't lose anything, and if you manage to trade it out with a good timing, you've made a good profit.
April 21, 2014, 08:13:55 AM
Arbitrage
April 21, 2014, 05:28:59 AM
Alt coins are a horrible way to use BTC to net more BTC, you could miss a good upswing.
Especially doge which creates billions of coins per day killing the value over time.
The best way to use BTC and keep your BTC while netting more BTC is via BitFinex...though I should not reveal this because the more people willing to loan BTC, the lower the return. That is probably why nobody else mentioned it.
Risk: You have to keep your bitcoins on the BitFinex website. After over a year, they are fairly trustworthy. However, the safest place is always in your cold storage.
Especially doge which creates billions of coins per day killing the value over time.
The best way to use BTC and keep your BTC while netting more BTC is via BitFinex...though I should not reveal this because the more people willing to loan BTC, the lower the return. That is probably why nobody else mentioned it.
Risk: You have to keep your bitcoins on the BitFinex website. After over a year, they are fairly trustworthy. However, the safest place is always in your cold storage.
How would you miss a BTC upswing if your trading an alt which means an alt/btc pair?
April 21, 2014, 05:13:33 AM
CGB is made to hedge and multiply Bitcoins. A solid investment:
https://bitcointalksearch.org/topic/historic-cryptogenic-bullion-thread-closed-245086
https://bitcointalksearch.org/topic/historic-cryptogenic-bullion-thread-closed-245086
April 21, 2014, 02:10:33 AM
But what made me pull my coins out of BitFinex despite all their assurances, was that the return did not, by my thinking, balance the risk. I was making 1000% on average each year simply holding the coins securely myself. There was a minuscule risk that the exchange could be hacked, or somehow suffer a big market move that would force close the margin positions and leave the exchange at a loss. If I was making 1000% anyway, why try to improve on that by 2% and lose sleep over the chance all could be lost?
I agree, the risk is not worth it for such small returns. I only loaned out BTC on there after the rate went up as the price was falling the past few months. I sent someone a bitcoin and figured I would loan enough for enough time to get that bitcoin back.
But after the Heartbleed thing I pulled all of my BTC to cold storage.
April 21, 2014, 01:40:48 AM
The best way to use BTC and keep your BTC while netting more BTC is via BitFinex...though I should not reveal this because the more people willing to loan BTC, the lower the return. That is probably why nobody else mentioned it.
Risk: You have to keep your bitcoins on the BitFinex website. After over a year, they are fairly trustworthy. However, the safest place is always in your cold storage.
Risk: You have to keep your bitcoins on the BitFinex website. After over a year, they are fairly trustworthy. However, the safest place is always in your cold storage.
I loaned bitcoin to short sellers at BitFinex from January to April last year at about 2% annual interest. I was treated professionally and had no problem whatsoever with the website nor the operators. FYI, I saw that the rate of return on dollars loaned for long-position margin traders was much, much higher.
But what made me pull my coins out of BitFinex despite all their assurances, was that the return did not, by my thinking, balance the risk. I was making 1000% on average each year simply holding the coins securely myself. There was a minuscule risk that the exchange could be hacked, or somehow suffer a big market move that would force close the margin positions and leave the exchange at a loss. If I was making 1000% anyway, why try to improve on that by 2% and lose sleep over the chance all could be lost?
April 21, 2014, 01:21:50 AM
Buy Mining hardware
April 20, 2014, 11:39:32 PM
I like the idea to open a bitcoin ATM. It can bring a lot more BTC
April 20, 2014, 09:52:05 PM
Good essay SS... Where do you draw the line between prudent spending and spending for the sake of nurturing adoption?
It is conventional wisdom in this forum that prudent bitcoin spending is for necessities. Things you must have. For example, I spend a lot at Amazon for books, nutritional supplements, household expendables and such. Until such time as Jeff Bezos "gets Bitcoin", I buy Amazon gift cards at Gyft. I am also on the lookout for discounted gift cards, purchased in bitcoin from various sellers.I attempt to conduct at least one bitcoin transaction daily. Here in Austin that is getting easier. There are over 60 bitcoin-accepting vendors within an easy drive, listed on Coinmap.org. Many serve food and everyone must eat.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
April 20, 2014, 09:44:16 PM
Using money to make more money?
This is a left over notion from the credit based economy in which the presence of inflation biases every aspect of our economic decision making. With fiat, one must use money because it will certainly be worth less in the future. Notably, you can lend it out and gain both principal and interest back. One could buy an income producing asset and realize a stream of income that will likely sum to more than the original cost.
In the Bitcoin Economy, these biases are the opposite of what one should do. Deflation is weird and we must wrap our minds around what it means. For starters, lending and credit do not work in the Bitcoin Economy. The rate of deflation for the near future is greater than the investment return that one could gain. This is obvious when examining the repeated failure of bitcoin-denominated securities.
Forget about the idea of you making money. In the Bitcoin economy, only mining pools make money. Rather, you earn money. Your currency increases in value simply by holding on to it.
Bitcoin is for saving and prudent spending upon necessities. This guideline applies to enterprises as well as individuals. Let me recast a common economic activity in Bitcoin terms to illustrate the point.
Bitcoin Household Mortgages - Not.
There are no mortgages nor long term lending in the Bitcoin Economy. Not now, probably not ever. Buy now and pay later has never really been a good idea. In the economy we are working towards, a substantial asset, whether a necessity or income-producing, is purchased on installments. You get the title for your home in exchange for a good faith promise to make periodic payments for a contracted duration of time. The amount of the payments decreases with the deflation rate, or is otherwise linked with your ability to pay. If you miss your payments, the property or collateral reverts to the seller, less the adjusted equity you have paid in.
No debt, no banks, no problems.
This is a left over notion from the credit based economy in which the presence of inflation biases every aspect of our economic decision making. With fiat, one must use money because it will certainly be worth less in the future. Notably, you can lend it out and gain both principal and interest back. One could buy an income producing asset and realize a stream of income that will likely sum to more than the original cost.
In the Bitcoin Economy, these biases are the opposite of what one should do. Deflation is weird and we must wrap our minds around what it means. For starters, lending and credit do not work in the Bitcoin Economy. The rate of deflation for the near future is greater than the investment return that one could gain. This is obvious when examining the repeated failure of bitcoin-denominated securities.
Forget about the idea of you making money. In the Bitcoin economy, only mining pools make money. Rather, you earn money. Your currency increases in value simply by holding on to it.
Bitcoin is for saving and prudent spending upon necessities. This guideline applies to enterprises as well as individuals. Let me recast a common economic activity in Bitcoin terms to illustrate the point.
Bitcoin Household Mortgages - Not.
There are no mortgages nor long term lending in the Bitcoin Economy. Not now, probably not ever. Buy now and pay later has never really been a good idea. In the economy we are working towards, a substantial asset, whether a necessity or income-producing, is purchased on installments. You get the title for your home in exchange for a good faith promise to make periodic payments for a contracted duration of time. The amount of the payments decreases with the deflation rate, or is otherwise linked with your ability to pay. If you miss your payments, the property or collateral reverts to the seller, less the adjusted equity you have paid in.
No debt, no banks, no problems.
Good essay SS... Where do you draw the line between prudent spending and spending for the sake of nurturing adoption?
April 20, 2014, 09:38:43 PM
Using money to make more money?
This is a left over notion from the credit based economy in which the presence of inflation biases every aspect of our economic decision making. With fiat, one must use money because it will certainly be worth less in the future. Notably, you can lend it out and gain both principal and interest back. One could buy an income producing asset and realize a stream of income that will likely sum to more than the original cost.
In the Bitcoin Economy, these biases are the opposite of what one should do. Deflation is weird and we must wrap our minds around what it means. For starters, lending and credit do not work in the Bitcoin Economy. The rate of deflation for the near future is greater than the investment return that one could gain. This is obvious when examining the repeated failure of bitcoin-denominated securities.
Forget about the idea of you making money. In the Bitcoin economy, only mining pools make money. Rather, you earn money. Your currency increases in value simply by holding on to it.
Bitcoin is for saving and prudent spending upon necessities. This guideline applies to enterprises as well as individuals. Let me recast a common economic activity in Bitcoin terms to illustrate the point.
Bitcoin Household Mortgages - Not.
There are no mortgages nor long term lending in the Bitcoin Economy. Not now, probably not ever. Buy now and pay later has never really been a good idea. In the economy we are working towards, a substantial asset, whether a necessity or income-producing, is purchased on installments. You get the title for your home in exchange for a good faith promise to make periodic payments for a contracted duration of time. The amount of the payments decreases with the deflation rate, or is otherwise linked with your ability to pay. If you miss your payments, the property or collateral reverts to the seller, less the adjusted equity you have paid in.
No debt, no banks, no problems.
This is a left over notion from the credit based economy in which the presence of inflation biases every aspect of our economic decision making. With fiat, one must use money because it will certainly be worth less in the future. Notably, you can lend it out and gain both principal and interest back. One could buy an income producing asset and realize a stream of income that will likely sum to more than the original cost.
In the Bitcoin Economy, these biases are the opposite of what one should do. Deflation is weird and we must wrap our minds around what it means. For starters, lending and credit do not work in the Bitcoin Economy. The rate of deflation for the near future is greater than the investment return that one could gain. This is obvious when examining the repeated failure of bitcoin-denominated securities.
Forget about the idea of you making money. In the Bitcoin economy, only mining pools make money. Rather, you earn money. Your currency increases in value simply by holding on to it.
Bitcoin is for saving and prudent spending upon necessities. This guideline applies to enterprises as well as individuals. Let me recast a common economic activity in Bitcoin terms to illustrate the point.
Bitcoin Household Mortgages - Not.
There are no mortgages nor long term lending in the Bitcoin Economy. Not now, probably not ever. Buy now and pay later has never really been a good idea. In the economy we are working towards, a substantial asset, whether a necessity or income-producing, is purchased on installments. You get the title for your home in exchange for a good faith promise to make periodic payments for a contracted duration of time. The amount of the payments decreases with the deflation rate, or is otherwise linked with your ability to pay. If you miss your payments, the property or collateral reverts to the seller, less the adjusted equity you have paid in.
No debt, no banks, no problems.
April 20, 2014, 08:17:07 AM
Invest in creating BITCOIN PTC sites
PTC sites. Surely not Pay to Click?
April 20, 2014, 04:38:26 AM
Invest in creating BITCOIN PTC sites
April 20, 2014, 01:47:04 AM
I have invested in arbitrage and it has been quite profitable recently. It is basically taking advantage of BTC price difference between different BTC exchanges. Links are in my signature if you would like to try.
Jump to: