Topic: My story! (If anyone is interested in a noob's story) (Read 459 times)

Well I bought one bitcoin for $100 bucks in April, now it's worth ~$900. But I did use 0.344 of them to buy the X-1 today. However I intend to replenish those bitcoins tomorrow to get back to one, perhaps I'll even get lucky and buy them back at a price lower than $900! Actually, I'm thinking I may buy more than that but we'll see.

I realize it's not much in the big scheme of things but I may be representative of the next wave of people getting in for small amounts like this. The fact that you can buy in smaller increments allows access to bitcoin for many people and that in turn helps the system over time. It is still pretty complicated for the average Joe and the average Joe wants things simple. So it'll take time and innovation to bring in the masses, if it even gets to that point. I'm sure there are people out there smarter than I am who will come up with ideas to make the whole thing easier to understand without having to do weeks of research like I had to do! I'm not dumb and I still find it very complicated. LOL

Sounds good, mate

Welcome to the community forum

Better late than never...

So how much have you earned now?

Back in April I was doing my weekly check of facebook and saw an article by the CFA Institute on bitcoin. Now for those of you who don't know the CFA Institute, they are the issuers of the highly respected and difficult to obtain CFA Charter (Chartered Financial Analyst). Ask anyone involved in the buy/sell investment community and they will know what CFA stands for and represents.

Point being, I happen to be a CFA Charterholder. So when I read that article, I started to do some research and I liked what I saw in theory. So I proceeded to get verified at an exchange, deposited $100 and bought a bitcoin to test the waters. Then I monitored off and on for a few months, did a bit more research, etc.

Obviously a few weeks ago, I began to get giddy with the price rise (and regretful wishing I had bought more!). At that time, I started to research mining as well. I have my own theories about where this thing could be headed and based my most recent purchase of a mere $300 for a Black Arrow X-1 on the results of my analysis and incorporating my own risk/return calculations. I'm so accustomed to financial/investment transactions being conducted in what most of us would say is "normal", so this purchase has me right at the edge of my comfort zone, but I did it anyway! I now have an "awaiting delivery" status for the X-1 and am anxiously awaiting the end of February for two reasons: 1. to see if the equipment actually arrives () and 2. to start tinkering and get real world personal experience with how all of this mining business works.

So I have a couple of months to research pools and things before my itty bitty machine arrives.

I'll use this thread to update as time goes by for any other noobs like me who are just hopping on this bitcoin train. Are we late to the show or is it still in the early stages? Am I an early adoptor or a sucker? Will bitcoin change the word and save humanity from itself or just be another big idea that flops when the 1% realizes their wealth could potentially be at risk?

Only time will tell. And that's what makes taking this small risk so exciting! So many variables at play! I'm buckled in and can't wait to enjoy the ride, even if it does crash. But I have a feeling that's not going to happen anytime soon.

Bitcoin is brilliant in theory, and exciting to be part of the action.