How to buy bitcoin in australia reddit
Hey beginner to bitcoin and cryptocurrency here, just wondering which website to buy bitcoin from, that gives the best rates, and where to sell bitcoins on for the best rate? Are bitcoin australia and coinspot good? Also if anyone knows alot about cryptocurrencys, what actually makes the price go up?
Would investing in ethereum be a good idea? Nobody knows what makes price of Bitcoins go up anymore… it goes up on good news and even more up on bad news. Warren Buffett has a rule to never invest in what he doesn't understand. You can choose to be like Warren Buffett or you can gamble. When you buy Bitcoins, understand there are no fundamentals. You need to take that possibility into an account too.
Where did you do your research from if you don't mind me asking, quite curious about bitcoin? Its not research its just fact. You cant research how to buy bitcoin in australia reddit that have not existed the way they are. Nowhere, because thats never happened before. Buy bit coin, if you have a gut feeling it will go up, sell it when you have how to buy bitcoin in australia reddit gut feeling it will go down.
Its as simple as that. Anybody that tells you otherwise is plain lying. Any investment has an element of risk to it, be it cryptocurrency or traditional stock portfolios or property. To say that you can't research bitcoin because cryptocurrency is relatively new is completely absurd, the more information you have the more informed your investment decisions will be.
Im not saying you cant research. You can research what it is, how it works, where to buy it, how to transact etc. What you cant research is, why it goes up and down and use that information to predict what is going to happen. There is not enough history or stability in the coin just yet to make these accurate informed decisions.
Its all gut feel right now. All currency and finance is an illusion - there is no particular reason why any of it is worth anything. To the OP, one of the chief benefits of bitcoin and it's ilk is avoiding currency controls and national finance structures that are wont to say "what's yours is mine".
As such the more unstable is the world and currency trading, the more likely are people to use bitcoin and there have it's value appreciate. However, the price of bitcoin has risen to some pretty extreme levels and to jump in now is to bet that values will go up with increased uncertainty. What are you talking about, you could have just about doubled your money by now if you bought a few months ago….
I first heard about bitcoin in It didn't seem to have much point then, an academic exercise. If I had spent a short time mining with my PC then, I'd now be worth several hundred million. If you want to gamble on bitcoin doubling over the next year, make sure you do it with money you don't mind losing entirely. Where did you buy and sell at?
You how to buy bitcoin in australia reddit and sold it for triple or is triple only on paper haven't sold yet? It's still worth zero until you sell and cash is in your savings.
Taxes to Australian government can be paid in Australian dollars only which creates demand for the currency. A lot of people have a debt which can be settled in How to buy bitcoin in australia reddit dollars only. You can be assured Australian dollars will be in demand for foreseeable future.
Maybe to you Australian dollars are worthless, to a lot of people they do hold value because they can settle debts with them and avoid bad consequences e. What creates demand for Bitcoins? Pure speculation that the price will keep going up. Are there any countries where taxes must be paid in Bitcoins?
Are there any debts which can be settled in Bitcoins only? You know the answer… Bitcoin has basically all the attributed of tulip mania almost years ago. Very interesting read - https: It's a lie that works, right up until it doesn't. Money has the value people place on it, and if people decide it's worthless, then it very quickly can be so. If you call currencies a lie, then what else is a lie? Share prices on ASX? House prices in Sydney and Melbourne? You can literally exchange 1 gold bar for a house in Sydney.
Do you agree house is more useful than how to buy bitcoin in australia reddit bar? If currencies are a lie, how is gold bar not a lie too?
Yes, I am also happy that this is the case as I would probably cash out at k, too. Now I feel comfortable with my decision. Too how to buy bitcoin in australia reddit for the part, buddy. Everyone is selling and the bubble is about to burst.
Why do you say that, is there any evidence that it's going to burst? Also how can you possibly make as much money from USD, as you can from bitcoin? Nobody knows the future. Bitcoin is a high risk, very high how to buy bitcoin in australia reddit speculative vehicle. I wouldn't even call it an investment. Why is the price going up? Because other people are buying. Why are they buying? Because the price is going up, and vague promises about blockchain and the future of finance.
IMO there is no point asking people on a bargain website about bitcoin. If they did for some reason, you wouldn't believe them anyway, because of 2. They would be busy doing this: I had lots of bitcoin back as far asbut like most people how to buy bitcoin in australia reddit then sold them to pay for mining gear and electricity.
Very few people hoarded years ago with the how to buy bitcoin in australia reddit the price would go up x. For me the fact lots of people still say "don't buy it" means there's still little understanding about Bitcoin around. You have no idea who they are plus, there is no repurcussions for them if they say yes.
But for you there is, because it's your money. There's a lot of hype around bitcoin lately as it gains more exposure in mainstream media even a Big Bang episode is coming out.
With hype you have to be more diligent before spending any money by doing research and defining your own financial goals - and how this investment will take you there. With no offence meant it does not seem like you have done this, it seems like you have started getting excited over the hype about it doubling and tripling in price recently as evidenced by your comments above.
Without any idea of what you're doing you will lose money, even with an idea of what you are doing you can lose money but it's less likely. Do more research before you jump headfirst into bitcoin. I'll put it this way, think about the amount you're going to spend on bitcoin, let's say 10k - would you go into a casino and bet 10k at a card table where you have no idea how the game is played or how the game works?
I don't think we're quite at peak bitcoin mania yet: I haven't seen any 'buy bitcoin! It's a sign the dumb money has entered the market and the peak is how to buy bitcoin in australia reddit to be hit. OP doesn't understand the fundamentals of Bitcoin, where or how to buy it. Some of their telling comments are:. OP is convinced you cannot lose from Bitcoin - that it's a sure thing.
Is this whole post not one of those signs that the dumb money how to buy bitcoin in australia reddit entered the market??? Check out reddit - https: The author is suggesting even if bitcoin's price collapses and you lose a stack of money on it, it's all good! Progress is being made and people have to suffer and lose for it to happen. Investments in progress are never entirely wasted.
I made a video about the way I buy btc and altcoins. Best ones I could find in australia and both are quite popular and trusted sites. Don't invest anything you aren't willing to lose. I think there's a huge amount of dumb money dinto crypto at the moment due to fomo fear of missing out and everyone trying to get rich real fast. I believe Perth based power ledger is one of them. Do your own research, invest in one's with fundamentals. Most of these will how to buy bitcoin in australia reddit out, but the ones that stick around will be shooting to the moon.
Invest for the long term.