Should I invest in bitcoin, and which wallet should I use?

[pavelexpertov]

Hey guys, I read crazy news about bitcoin's prices going up and down and I think it's kinda worth it to invest some money in. From my understanding, I can buy a portion of bitcoin, which could be worth 50 dollars, and then I can wait for price to rise up so that the portion will be worth more than 50 dollars?
Furthermore, which wallet should I get: on the web, on phones or computers?

[vasa1]

Yes! Buy low, sell high.

[Paqman]

Bitcoin isn't really investing, it's a punt.

[PJs Ronin]

Aardvarks my boy... the future is in Aardvarks.

[Dave_L]

Aardvarks my boy... the future is in Aardvarks.

I've heard they make great house pets. And you never have to worry about spraying to keep away those pesky ants in the summer.

[vasa1]

I've heard they make great house pets. And you never have to worry about spraying to keep away those pesky ants in the summer.
But what will they eat when the ants aren't around? Bitcoins?

[Dave_L]

But what will they eat when the ants aren't around? Bitcoins?

There's clearly a need for a business that provides good quality, affordable Aardvark food. You could use bitcoins to finance it!

[pavelexpertov]

There's clearly a need for a business that provides good quality, affordable Aardvark food. You could use bitcoins to finance it!

Lolz, why the company can't use their current currency to finance food. Unless they want to hide identity. :o

[wiiuturn]

Yes, Bitcoin is a great investment.

However, watch your back - I'd make sure and encrypt your wallet no matter what kind of wallet you use.

[3rdalbum]

I highly recommend Blockchain.info for your wallet. It is web-based but only decrypts inside your browser. In theory it is nearly as secure as a desktop wallet, but without the need to download 10gb of blockchain.

Go for it. but remember the two cardinal rules:

1. Never invest more than you can afford to lose
2. If you make a profit and put it into your bank account, you must declare it as taxable income and you will be taxed. Instead, try to buy products and services directly with your Bitcoin when it has high value, and then you have no need to declare anything, pay tax or pay an exchange's commission.

[mastablasta]

but is it a longterm investment ? it fluctuates quite a lot in value.

or is it better to buy a lottery ticket?

[sandyd]

If your bored, do some trials by mining some altcoins and convert to bitcoins at an exchange.
See which is more cost effective :)