View Poll Results: Should I invest in bitcoin?

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  • Yes

    1 16.67%
  • No

    5 83.33%
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Thread: Should I invest in bitcoin, and which wallet should I use?

  1. #1
    Join Date
    Dec 2010
    Beans
    136
    Distro
    Ubuntu 14.04 Trusty Tahr

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

    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?
    "If you are in hell, keep going." Winston Churchil
    ubuntucrazygeek.blogspot.com
    http://motivatedsuccess.tumblr.com/
    http://pavelexpertov.tumblr.com/

  2. #2
    Join Date
    Dec 2007
    Beans
    11,350

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

    Yes! Buy low, sell high.

  3. #3
    Join Date
    Jan 2007
    Beans
    6,540
    Distro
    Ubuntu 13.04 Raring Ringtail

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

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

  4. #4
    Join Date
    Apr 2012
    Location
    Oz
    Beans
    Hidden!
    Distro
    Ubuntu Development Release

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

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

  5. #5
    Join Date
    Sep 2010
    Beans
    898

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

    Quote Originally Posted by PJs Ronin View Post
    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.

  6. #6
    Join Date
    Dec 2007
    Beans
    11,350

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

    Quote Originally Posted by Dave_L View Post
    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?

  7. #7
    Join Date
    Sep 2010
    Beans
    898

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

    Quote Originally Posted by vasa1 View Post
    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!

  8. #8
    Join Date
    Dec 2010
    Beans
    136
    Distro
    Ubuntu 14.04 Trusty Tahr

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

    Quote Originally Posted by Dave_L View Post
    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.
    "If you are in hell, keep going." Winston Churchil
    ubuntucrazygeek.blogspot.com
    http://motivatedsuccess.tumblr.com/
    http://pavelexpertov.tumblr.com/

  9. #9
    Join Date
    Jan 2014
    Beans
    0

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

    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.

  10. #10
    Join Date
    Dec 2005
    Location
    Western Australia
    Beans
    11,480
    Distro
    Ubuntu 12.04 Precise Pangolin

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

    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.
    I try to treat the cause, not the symptom. I avoid the terminal in instructions, unless it's easier or necessary. My instructions will work within the Ubuntu system, instead of breaking or subverting it. Those are the three guarantees to the helpee.

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