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.
Topic: In Your OPINION, What is the best way to use BTC to net more BTC? - page 2. (Read 3925 times)
April 20, 2014, 01:25:32 AM
April 20, 2014, 01:10:18 AM
It has been dying for weeks/months now so honestly going back "up" to 120 isn't really an increase. It was 300 not all that long ago and has just slowly slid down since then.... There will be a few attempts at rallies here and there but ultimately I think it's going to keep going down. And I'm a doge holder.
Probably because DOGE is a pseudo-crypto FIAT scamcoin.http://trilema.com/2014/why-dogecoin-is-a-scam-why-the-people-pushing-it-are-assholes-why-business-insider-is-a-contemptible-piece-of-shit-why-anyone-who-ever-worked-for-it-will-be-dancing-in-the-street-for-nickels-and-wh/
April 19, 2014, 11:22:32 PM
How can we use BTC to make more BTC for ourselves? What is the most efficient way to go about this in your opinion?
Simply being a bitcoin early adopter/innovator is already a rare and powerful investment opportunity that
is open to anyone right now.
It is not necessary to try to generate "more BTC". Instead, simply buy some coins
and hold onto them for 5 years, and see what happens.
This. Simply put, you can never generate more btcs than what you're having now with what you're having now. I used btcs to get miners to try to get more btc, I lose more btc than I can eventually generate. The best way to 'net' more btc is to simply buy, buy and keep buying.
+1
April 19, 2014, 10:23:15 PM
There is no reason for LTC to not recover as it is also getting more and more adoption each day.
There is reason actually. Most of the ventures which once used Litcoins have shut down, such as the famous equity market Litecoinglobal and the Ebay-like merchant site Atlantis. Can you provide me with any sort of proof for your claim that the Litecoin sector is getting more and more adoption every day? I am yet to see any of it.
April 19, 2014, 09:57:46 PM
The easiest way to do it without much trading experience is to convert some BtC into LTC on a price dip, and just flip it back into BTC when the ratio is stronger. Depending on USD prices, you may not net too much USD profit, but you will have increased your BTC holdings.
What will happen if LTC never recovers? A few months ago, LTC peaked at 0.05 BTC. Then it came down to 0.02 and has remained at 0.02-0.03 ever since. The problem with LTC is that it depends too much on the Chinese.
You could say the same about BTC. Almost all of the price fluctuations lately have been a result of news coming out of China. There is no reason for LTC to not recover as it is also getting more and more adoption each day. It is like 1-1.5 years behind BTC in my opinion.
April 19, 2014, 09:48:00 PM
The easiest way to do it without much trading experience is to convert some BtC into LTC on a price dip, and just flip it back into BTC when the ratio is stronger. Depending on USD prices, you may not net too much USD profit, but you will have increased your BTC holdings.
What will happen if LTC never recovers? A few months ago, LTC peaked at 0.05 BTC. Then it came down to 0.02 and has remained at 0.02-0.03 ever since. The problem with LTC is that it depends too much on the Chinese.
April 19, 2014, 09:13:28 PM
The easiest way to do it without much trading experience is to convert some BtC into LTC on a price dip, and just flip it back into BTC when the ratio is stronger. Depending on USD prices, you may not net too much USD profit, but you will have increased your BTC holdings.
April 19, 2014, 09:07:56 PM
Invest in alt coins then sell them quickky
April 19, 2014, 12:43:44 PM
You can put a 100,000 satoshis on a paper wallet for less than a $1 right now and sell them for about $10 each. Give them a better deal with 250,000 satoshis for $20.
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...
I don't think this is the greatest idea. When people find out that you sold them less than $1 worth of btc for $10 they're not going to be too happy with you and they certainly won't be thinking wow crypto is great I should totally keep buying bitcoins... I would say this is basically a scam unless I am somehow horribly misunderstanding what you meant. It sounds like just ripping people off and being a shady fuck.
I am not so much selling bitcoins as I am selling a wallet & providing information. Once people buy the wallet, I will sell them bitcoins at about a 10% markup.
Also, I would never lie about their current market value. Some people just want to buy as a gimmick and a 100,000 satoshis sounds cool.
April 19, 2014, 10:59:29 AM
You can put a 100,000 satoshis on a paper wallet for less than a $1 right now and sell them for about $10 each. Give them a better deal with 250,000 satoshis for $20.
...
...
I don't think this is the greatest idea. When people find out that you sold them less than $1 worth of btc for $10 they're not going to be too happy with you and they certainly won't be thinking wow crypto is great I should totally keep buying bitcoins... I would say this is basically a scam unless I am somehow horribly misunderstanding what you meant. It sounds like just ripping people off and being a shady fuck.
I think he's charging people for explaining bitcoin to them rather than the actual paper wallet. But, yeah, that profit margin is too high. A fair price for micro amounts would be exchange +20%. Larger amounts can be sold at lower margins.
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April 19, 2014, 10:58:17 AM
You can put a 100,000 satoshis on a paper wallet for less than a $1 right now and sell them for about $10 each. Give them a better deal with 250,000 satoshis for $20.
...
...
I don't think this is the greatest idea. When people find out that you sold them less than $1 worth of btc for $10 they're not going to be too happy with you and they certainly won't be thinking wow crypto is great I should totally keep buying bitcoins... I would say this is basically a scam unless I am somehow horribly misunderstanding what you meant. It sounds like just ripping people off and being a shady fuck.
nice business idea, but yeah 1000% markup isnt cool... go with maybe 20-25% markup and stay in integrity.
April 19, 2014, 10:43:38 AM
Do you guys think it is a good idea to convert some BTC into interest-paying altcoins such as Hobonickels or are these things just a complete waste of time?
Hobonickles? lol. No. You're more likely to lose money this way.
April 19, 2014, 10:40:44 AM
Do you guys think it is a good idea to convert some BTC into interest-paying altcoins such as Hobonickels or are these things just a complete waste of time?
April 19, 2014, 10:02:11 AM
Hold them until you're in big profit, then sell, then buy back at a massive drop and repeat the process.
April 19, 2014, 10:00:29 AM
I think trading alt coins but its very risky. Its all good catching the 400% pumps but its not nice taking a 80% haircut on the dumps.
So can you tell me how much money have you gained or lost since you started trading alt-coins? I have never tried trading any crypto other than Bitcoin, but would like to hear from others about it.
April 19, 2014, 09:50:40 AM
You can put a 100,000 satoshis on a paper wallet for less than a $1 right now and sell them for about $10 each. Give them a better deal with 250,000 satoshis for $20.
...
...
I don't think this is the greatest idea. When people find out that you sold them less than $1 worth of btc for $10 they're not going to be too happy with you and they certainly won't be thinking wow crypto is great I should totally keep buying bitcoins... I would say this is basically a scam unless I am somehow horribly misunderstanding what you meant. It sounds like just ripping people off and being a shady fuck.
April 19, 2014, 09:43:42 AM
DOGE is popular enough that you will get moves in both directions, even during a strong trend.
The recent move, ~90 to 148 leaves plenty of people guessing which way it will go next.
Like I said, "Trading alt coins works great, some of the time".
The recent move, ~90 to 148 leaves plenty of people guessing which way it will go next.
Like I said, "Trading alt coins works great, some of the time".
It has been dying for weeks/months now so honestly going back "up" to 120 isn't really an increase. It was 300 not all that long ago and has just slowly slid down since then.... There will be a few attempts at rallies here and there but ultimately I think it's going to keep going down. And I'm a doge holder.
Thank you both for your opinion. So basically it gets pumped and dumped every now and then just like every other alt coin. The difference being that it is popular so it can count on some holders and therefore some "floor" value.
You can put a 100,000 satoshis on a paper wallet for less than a $1 right now and sell them for about $10 each. Give them a better deal with 250,000 satoshis for $20.
...
...
Very clever this. You need good social skills, though.
April 19, 2014, 09:16:36 AM
I think trading alt coins but its very risky. Its all good catching the 400% pumps but its not nice taking a 80% haircut on the dumps.
April 19, 2014, 08:24:38 AM
Well there are a lot of scammers around nowadays, everything has risks but I feel like trading altcoins has a slighty lower risk
I have a feeling that altcoins will soon bite the dust. The recent altcoin boom (by the end of 2013) was caused by Chinese investors who piled up altcoins as they thought that Bitcoin was way too expensive. The China boom has long ended. So... there is a lack of demand in general for the altcoins. Also, right now there are close to 750 different altcoins, with 20-30 new coins being created every day. This will lower the demand even more.
+1. Way too much altcoin offer and BTC selling than demand...
April 19, 2014, 07:52:11 AM
trade altcoins/trade securities. but the best way you say? so far its to scam people cause most of the time you can get away
Never trade Bitcoin securities. I myself lost 80% of all my Bitcoins in the BTCT.co scam. And everyone seems to have forgotten about the Labcoin scam, which conned more than BTC10,000 in total.
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