Investing by common folk | Bitcointalksearch.org

Kruncha

sr. member

Activity: 644

Merit: 250

Quote from: BitcoinUK on May 03, 2013, 06:58:42 PM

getting into crypto is not much of a problem.

its just most people see bitcoin as a product itself that either needs to be manufactured (mined) or bought. alot of people are forgetting the whole point of bitcoin.

bartering.

EG imagine you have £10,000 and you want to get into bitcoin.

you would start up a business selling products. you price them up in bitcoin. Then customers pay you bitcoin and you pay your supplier with your fiat.

that way you end up with bitcoin. your supplier gets FIAT and your customer gets the product advertised.

another example: find a project where people are paying for skills in bitcoin

bitcoin is not just an investment opportunity like buying stocks and shares, its a whole economy of bartering too. the only thing is that the bartering is getting slow to start up

Nicely put

...Also, doing it BitcoinUK's way will also promote bitcoin, get it moving around, and ultimately increase its value/your investment.

K.

BitcoinUK

newbie

Activity: 58

Merit: 0

getting into crypto is not much of a problem.

its just most people see bitcoin as a product itself that either needs to be manufactured (mined) or bought. alot of people are forgetting the whole point of bitcoin.

bartering.

EG imagine you have £10,000 and you want to get into bitcoin.

you would start up a business selling products. you price them up in bitcoin. Then customers pay you bitcoin and you pay your supplier with your fiat.

that way you end up with bitcoin. your supplier gets FIAT and your customer gets the product advertised.

another example: find a project where people are paying for skills in bitcoin

bitcoin is not just an investment opportunity like buying stocks and shares, its a whole economy of bartering too. the only thing is that the bartering is getting slow to start up

professorY

sr. member

Activity: 364

Merit: 250

The major problem at this point is (lack of) ease of transfer between fiat currency and cryptos. It's not THAT difficult to buy cyptos, but it's not as easy as, say, buying something on EBay or Amazon. Nor should it be. It's a bit of a barrier to entry which isn't necessarily a bad thing.

BitcoinUK

newbie

Activity: 58

Merit: 0

well if you think one day you may end up in prison, then investing in cigarettes can be a cheap investment to keep your manhood intact when it comes to the bar of soap slipping on the floor in the shower block.

real world stuff though. doing shares and stock investments are not worth it, as the volitility isnt there and the fee's are worse then bitcoins.

the best thing to invest in is businesses. and by that i mean start up a small business which use 'drop shipping' suppliers. so that there's no upfront costs. you just take in the cash, and pay the drop shipper their whole sale price and give them the customers delivery address.

bitcoinstore works like this. and although they done a deal requesting very low wholesale prices if they promise to sell X amount per year (a bit of a risk) there is still no upfront costs for stock. just the risk that they cant continue offering great prices if they dont hit the promised quota

SilverandBitcoins

full member

Activity: 187

Merit: 100

It sounds like you know what you want mj112588. "balance their portfolio": It kind of reminds me of the phrase: "Preserving one's wealth". I sure would like to be wealthy...but then I guess I am compared to someone in Uganda..or someone with nothing! Here's something else that's cheaper then cheap to invest in: Save you nickels and pre-1982 pennies for the metal content. You can find the value of those coins at Coinflation.com . Who couldn't afford to save some pennies?

mj112588

newbie

Activity: 12

Merit: 0

That is a good point... cryptocurrencies can be split up into very small incriments to where anyone could afford. I think the most important you already have listed. I like how people here are trying to balance their portfolio (sounds like such a rich term). I remember back when I was saving for a car at 16 MANY MANY years ago and all I cared about was the # i had in my savings account, then you get older and realize there is so much more than just having cash that determines your worth. I'm very glad I learned as much as I did about investing into metals. The next thing I really would like to have is a house and land, both of which I will say I'm totally failing at Undecided

. Must wait to finish school first...

SilverandBitcoins

full member

Activity: 187

Merit: 100

One thing I like about investing in cryptocurrencies, and also silver and gold, is that anyone on any buget can invest as little, or as much as they want very easily. I can buy just a fraction of a bitcoin and a silver dime can be had for under $2. What are some other investments that common folk can get involved in easily?

Topic: Investing by common folk (Read 415 times)