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Topic: Strategies to increase Bitcoin holdings using only Bitcoin (Read 2429 times)

legendary
Activity: 1498
Merit: 1000
Let's say you wanna spend 10BTC in Mastercoins.

Trade wisely the 8BTC and invest the other 2 just in case...

No need to go in depth of what it is.

Though long story short we have 2 major features with MSC:

1) Pegged currencies (risky)
2) Distributed currency/stock exchanges, distributed e-commerce

BTCT,MtGox,SilkRoad on roids!!
great way to lose money by investing in something you don't even know what it is.
But going back to gambling, one can profit by actually creating a simple gambling site or buy one already completed and advertise it like in normal business.
Sure, I already made my initial investment back at x10 and now enjoying the ride!

FYI I am a programmer and I can tell that the devs working on it atm are some of the best, especially Tachikoma.

Compared to the shit foundation only gmaxwell is bright enough...
hero member
Activity: 546
Merit: 501
Let's say you wanna spend 10BTC in Mastercoins.

Trade wisely the 8BTC and invest the other 2 just in case...

No need to go in depth of what it is.

Though long story short we have 2 major features with MSC:

1) Pegged currencies (risky)
2) Distributed currency/stock exchanges, distributed e-commerce

BTCT,MtGox,SilkRoad on roids!!

great way to lose money by investing in something you don't even know what it is.
But going back to gambling, one can profit by actually creating a simple gambling site or buy one already completed and advertise it like in normal business.
legendary
Activity: 1498
Merit: 1000
Let's say you wanna spend 10BTC in Mastercoins.

Trade wisely the 8BTC and invest the other 2 just in case...

No need to go in depth of what it is.

Though long story short we have 2 major features with MSC:

1) Pegged currencies (risky)
2) Distributed currency/stock exchanges, distributed e-commerce

BTCT,MtGox,SilkRoad on roids!!
legendary
Activity: 1946
Merit: 1006
Bitcoin / Crypto mining Hardware.
Thanks. Checking Mastercoins at the moment, but can't really understand it's benefits yet.

I think it's BTC blockchain SPAM.
newbie
Activity: 27
Merit: 0
Thanks. Checking Mastercoins at the moment, but can't really understand it's benefits yet.
legendary
Activity: 2324
Merit: 1125
I'm surprised no one has mentioned gambling yet. "Just-Dice" is a fair spot to play.

Other than that - Investing, Lending, 'Shorting' (converting to Fiat), and buying up Litecoin are all good examples.

Gambling will generally lose you coins, not earn you.

I mean, I suppose you could be like "ok, I'm going to martingale ONCE" and be practically assured a profit, but if you take into account the minute chance you will lose everything, your expected return is still negative.

I certainly agree, but we're just talking "strategies" to increase Bitcoin holdings..of which I'd argue gambling (like investing in random Securities) fits right in. Since there's no "sure thing" in Bitcoin, that leaves both Investing and Lending open to risks that may just put them on par with gambling anyway.

Gambling is a pretty good strategy to consistently lose money. It's not one to make money unless you're the house.
legendary
Activity: 1064
Merit: 1001
I'm surprised no one has mentioned gambling yet. "Just-Dice" is a fair spot to play.

Other than that - Investing, Lending, 'Shorting' (converting to Fiat), and buying up Litecoin are all good examples.

Gambling will generally lose you coins, not earn you.

I mean, I suppose you could be like "ok, I'm going to martingale ONCE" and be practically assured a profit, but if you take into account the minute chance you will lose everything, your expected return is still negative.

I certainly agree, but we're just talking "strategies" to increase Bitcoin holdings..of which I'd argue gambling (like investing in random Securities) fits right in. Since there's no "sure thing" in Bitcoin, that leaves both Investing and Lending open to risks that may just put them on par with gambling anyway.
sr. member
Activity: 448
Merit: 250
I'm surprised no one has mentioned gambling yet. "Just-Dice" is a fair spot to play.

Other than that - Investing, Lending, 'Shorting' (converting to Fiat), and buying up Litecoin are all good examples.

Gambling will generally lose you coins, not earn you.

I mean, I suppose you could be like "ok, I'm going to martingale ONCE" and be practically assured a profit, but if you take into account the minute chance you will lose everything, your expected return is still negative.
legendary
Activity: 1498
Merit: 1000
Buy Mastercoins - the only other coin which while BTC rallied went upwards.
It reached x14 it's initial price this week!!

https://docs.google.com/spreadsheet/ccc?key=0ApGPLGUd5ZCzdHFxbnhHQjBDSDVKamY5UHlWdkNMNWc&usp=sharing#gid=1

Check the first page too (order tab).
legendary
Activity: 1064
Merit: 1001
I'm surprised no one has mentioned gambling yet. "Just-Dice" is a fair spot to play.

Other than that - Investing, Lending, 'Shorting' (converting to Fiat), and buying up Litecoin are all good examples.
legendary
Activity: 2408
Merit: 1009
Legen -wait for it- dary
You can also lend on Bitfinex. Lent BTC for shorting is paid back +interest paid in BTC.
legendary
Activity: 1168
Merit: 1000
You would need to do margin trading -- that is:
 -borrow USD based on your BTC holdings
 -use that borrowed money to buy BTC
 -if/when the price goes up, close the margin position by selling the coins purchased with borrowed money.
 -use the USD profits to buy some new coins to expand your holdings
 -that new enlarged position is the basis for further USD loans.

You pay a daily interest charge on the borrowed money (that charge is called 'swap'). If the coins go up by a bigger average daily percentage than the money you borrow (plus exchange fees in and out of the position), then you make money. If not, you loose money. This is leveraged trading so you have to be careful, you can loose a lot if you are not careful/lucky.

This type of trading can be done on bitfinex.



This was fun, and extremely profitable, 2 weeks ago when you could actually borrow USD on Bitfinex for a "reasonable" APR. 
legendary
Activity: 2324
Merit: 1125
hero member
Activity: 898
Merit: 1000
buy up some altcoins while the price is depressed because of the BTC rally.

you can get 1000 litecoins for just about 10 BTC now.  just a few months ago it would have cost 20-30 BTC for that amount.  

when scrypt fpga's come out and litecoin receives more acceptance its only a matter of time before the speculators favor LTC once again.  

then sell for BTC and hold.  

Best option IMO. Litecoin is strong, and despite what a lot of BTC enthusiast seem to think, it does bring a certain amount of benefit to the crypto-scene without much drawback. See this reddit post for a good summary:

http://www.reddit.com/r/Bitcoin/comments/1bxrrw/playing_devils_advocate_why_bitcoin_will_crash_to/c9bhvme

Yes there are too many alts now, but I don't see why there isn't room for two coins, or maybe even three or four. (Primecoin is interesting too.)
newbie
Activity: 27
Merit: 0


Thanks for all excellent and very quick replies. By their intelligence I am pleased to realise that the question was not so dumb after all.

Many thanks for all the input. Excellent leads to follow from most of the posts, especially those that put emphasis on promoting the use of (and providing services with) bitcoin.


sr. member
Activity: 448
Merit: 250
- Borrow USD using BTC as collateral.
- Use a service like broker1 or btc.sx
- Shortsell altcoins
- Invest in a BTC denominated asset.

You forgot whoring out your signature Wink

Yes I'm an expert in that.

But I thought the OP wanted to invest BTC. There are plenty of ways of making BTC other than investing.
hero member
Activity: 924
Merit: 1000
- Borrow USD using BTC as collateral.
- Use a service like broker1 or btc.sx
- Shortsell altcoins
- Invest in a BTC denominated asset.

You forgot whoring out your signature Wink
sr. member
Activity: 448
Merit: 250
- Borrow USD using BTC as collateral.
- Use a service like broker1 or btc.sx
- Shortsell altcoins
- Invest in a BTC denominated asset.
legendary
Activity: 1610
Merit: 1004
buy up some altcoins while the price is depressed because of the BTC rally.

you can get 1000 litecoins for just about 10 BTC now.  just a few months ago it would have cost 20-30 BTC for that amount. 

when scrypt fpga's come out and litecoin receives more acceptance its only a matter of time before the speculators favor LTC once again. 

then sell for BTC and hold. 
hero member
Activity: 504
Merit: 502
This is the question for which mining was intended as an answer. It is possible, but you must be both clever and lucky. One or the other is not enough.
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