Bitcoin and Crypto Talk (Merged)(includes NFT)

egautr1 said

So I was talking to a good buddy last weekend and he was all about the bitcoins.

He said he has been making some decent money on the side and recommended I start to look at getting into it.

So my question is if I wanted to try to get in with a small investment in bitcoins what should I look into? What sites do you recommend to use? How much do I need to put in to get make it work?

Let me say this, I don't know a ton about bitcoins or even investing in general. But I can learn just about anything and just was wondering if this is the next market to break out or if this is just a fad that might go away soon. Any advice/tips would help and be appreciated. thanks guys!!

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Even if blockchain crypto currency is not a fad (and there are many legitimate reasons why it isn’t) there simply is no way of knowing if any of these early currencies will survive. I think the market has already had a massive breakout and is trying to find stable valuation. There still is plenty of room for big gains if the currency gets more and more legitimate adoption (but right now there are significant challenges as the world’s big markets remain skeptical.

Because bitcoin has no intrinsic value, it could become worthless. I wouldn’t view any crypto as an “investment” - the rule of thumb you hear from analysts on these kinds of plays is no more than two percent of your net worth and be fully prepared to lose it. But you might also see gains, perhaps substantial.

Timing is also important. Most who bought bitcoin after October are in the red right now unless they were day trading on volatility.