We recently added support for the Euro! The Bitcoin converter is now an altcoin converter as well! Or if you need a calculator for Ethereum to Bitcoin, we can do that too.
Let us know what altcoin we should add next! Straight to the point, this is the information that I been looking for.
Your email address will not be published. Josephus February 5, at 1: Kevin Eugene Haynes January 21, at 3: Gloria December 3, at 7: Themba October 5, at 1: Greetings Sir This is the best exchange so far not even in Play Store you can find similar exchange.
Please just add calculator. There should be a cooler, Slang word for it. A bitbuck, a Mooner, lol idk.
I've heard people use em-bit also. Like maybe Nak prounounced knock , as in u know who. A Nak is 1 mBTC.
It's money, in sure there will be lots of nicknames eventually. I will be messaging you on Parent commenter can delete this message to hide from others.
As a bitcoin noob, I have a few questions. Has the price been rising steadily recently? Could I buy, let's say 50 mBTC and expect the price to go higher?
As a bitcoin noob Could I buy, let's say 50 mBTC and expect the price to go higher Keep in mind that you are asking this question to a group of people that have already asked themselves the same question and made the decision to invest in bitcoin.
So while many people on here are smart and honest and helpful, as a whole, this forum is very much scewed towards relentless optimism.
So bear that in mind. Also, understand that investing in BTC can largely be regarded as speculating. There is huge upside potential, but there is also great downside risk.
Owning BTC might make you rich someday, it might make you a couple bucks, and it might never reach its potential and you will lose every penny you invested.
This is not a reason not to invest, but it is a reality check, don't put money into BTC expecting to double your money overnight. You might do it, but its just as likely that you won't.
I am in the positive now, but it took over two years. Bitcoin can be a good investment. But be realistic about what that investment is--speculative.
As a rule of thumb, risk and reward are not independent of eachother in investing. This is true of Bitcoin the potential reward is substantial but the risk is also quite high.
All that said, I am quite positive about bitcoin, and would encourage you to buy some not more than you can afford to lose.
You will have the potential to make a little money and in the process you can learn a lot about investing, markets, money, the blockchain, economics, risk, and financial technology.
Just don't get into this expecting to "get rich quick" or under the belief that bitcoins success is inevitable. Thanks for the reply, that's very well written response, it puts a lot things into perspective.
Glad I could help. If you have more questions, let me know. Do whatever you feel like. No one knows what the price of bitcoin will be in a week, a month, year or 10 years.
This is good advice except the do whatever you feel like part. Nobody can predict the market, we are all speculating, some have better strategies and more informed approaches than others, but in the end we are all speculating on a bleeding edge technology.
Do whatever you feel like as long as you can justify it rationally and have done your due diligence research first.
The easiest strategy is to buy and hold until a predetermined exit point which ideally should be based on something other than just being an arbitrary round number i.
I was not reading what you were saying right. It may seem counterintuitive but it is ideal to buy in "price troughs" and then hold or sell when the price jumps back up.
I don't do this myself but I see the wisdom in it. There is a substantial chance that the price will drop before hitting 2k assuming that it does hit 2k so waiting for that dip would not be a bad choice either thought that dip may never happen.
Maybe you are starting to see the uncertainty and complexity of predicting what the market will do. Some people expects bitcoin to rise like you say, and I do, atleast in the long term, but trying to make money with btc right now is like gambling, I would rather wait a bit: P, if you want to make money, try altcoins, but you need knowledge if you don't want to loose your money.
My recomendation is to buy btc when low, and just keep it: It's probably considered a more risky investment than most of the mainstream stock market, so invest accordingly.
If you are using Bitcoin for tax evasion them I'm sorry to tell you that if the currency ever becomes commonly used there will be ways in which they will make you pay taxes.
The IRS just sent coinbase a subpoena asking for all of its clients' transaction history. The IRS was not happy with the lack of taxes paid on bitcoin so it is now combing through everybody's records to see if they can find any tax evaders.
Not only will this subpoena give the government access to transaction records for tax purposes, the Feds will also be able to see transmissions to and from darknet wallets.
So If I wanted to escape tax I should convert all of my money to bitcoin? Also what is fiat money in ELI5. Good job asking good questions.
There is a bit of a learning curve in the bitcoin space. It's kind of exciting really. Trying to understand bitcoin really helps you to understand our current monetary system as well or at least helps you to understand how little you actually understand about it.
Fiat money is not easy to ELI5, neither is monetary policy, its pretty complex and anyone that pretends otherwise should probably not be trusted too much.
People have legitimate and not so legitimate issues with fiat. One of the legitimate concerns is that the value of Fiat is not based on anything concrete, it is based on trust and supply and demand.
Why is the dollar valuable? Because we the market believe it has value. But why do we believe that? Because the government tells us we should, and history shows us we can?
But what is to keep them from just printing a bunch of new money and making our money less valuable? Well, nothing, we call that inflation, and trust that they will not print so much that our money becomes worthless see Zimbabwe or Venezuela.
As for escaping taxation, I wouldn't recommend this for a few reasons. Bitcoin enables this the same way that cash enables this, but that doesn't mean that it is safe, legal, or ethical, to do so.
Second, bitcoin is not yet stable enough to be a reliable store of valuable, sure you might escape some taxes by converting to bitcoin, but you also might lose your life savings or a good chunk of it.
The Bitcoin space, and this subreddit in particular, are pretty anti-fiat, anti-bank and libertarian leaning, although I don't consider myself to be a libertarian these sentiments are a big part of the reason I am passionate about Bitcoin.
But the bitcoin space is pretty diverse and is not all of one mind. I agree with much of the Anti-fiat sentiment but also find a lot of it to be hyperbole, exaggerated, and half baked, sometimes even full on conspiracy theory.
Not backed by anything but the government, and subject to governmental control. If he wants an explanation rather than a textbook definition this is the place to ask it, and if everyone gave a snarky "just google it answer", there would be no answers on google.