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there was a time when... 03/02/2017, 22354574

  1. NewEconomy

    331 Posts.

    there was a time when bitcoin = $1 seemed implausible and yet here we are with BitCoin above $1000 again after a short retrace in early January, and up 100% in the last six months.

    There are those that estimate that Bitcoin will reach $10,000 or even $100,000 in the near future given the short supply (most BitCoins have already been 'mined') as well as an exponential number of new financial services offered using BitCoin as well as increasing point-of-sale presence worldwide and support by online retailers such as amazon etc.

    Bitcoin is also unaffected by significant world events that can impact other types of investments with little or no notice.


    the cheapest way I have found to buy/sell BitCoin in Australia is: coinspot.com.au

    disclaimer: that link will let cointspot know that I referred you, but this does not add costs for you nor do I own the site. if you want to go to the website without referral information you can use this plain link www.coinspot.com.au.

    Also, the information provided in this post is my genuine opinion and the reason for having set up my own coinspot account to purchase BitCoin.

    There are many other ways to purchase bitcoins, such as the popular coinbase.com, however, they charge a 4.99% fee for bitcoin purchases in Australia which is exorbitant

    Services like coinspot store your bitcoins on its servers, but you can transfer them anywhere else you like for free if you decide to familiarize yourself with bitcoin more and prefer a different location (or 'wallet', as they are called). you can also transfer them to your own computer or phone, or even the new highly-secure 'hardware-wallets' that are small devices designed for the sole purpose of storing bitcoin safely without the risk of loss due to computer malfunction etc.

    There are of course many other crypto-currencies as well, of which Dash and Monero look the most promising due certain additional features, but I have not purchased any yet and with the current rapid growth of the bitcoin network that is my investment pick for now, especially as bitcoin has those same additional features in development and will offer them at some point during the course of 2017.

    There is a lot more information about bitcoin and crypto-currencies I could add but this post is long enough for now. I'm happy to answer any questions.

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