How-Do-I-Buy-Bitcoin-Investing

RIP Bitcoin – Is Bitcoin Dead And How Do I Invest In Bitcoin?

 

How Do I Invest In Bitcoin?

How Do I Invest in Bitcoin?

  • Understand why bitcoin was created.
  • Decide what kind of investor you are:
  • Day Trading – Very High Risk
  • HODL – Long term investing
  • Specialized platforms – Low to medium risk (Recommended)

 

Need Help?  Contact me here

 

 

Is bitcoin dying?

50% down…

Billions of dollars lost…

Is the crypto world falling apart?

According to 99 Bitcoins, bitcoin has already died 300 times!

 

How Do I Invest In Bitcoin

 

How Do I Invest In Bitcoin?

Last year bitcoin was $1000…

Now it is $4300+ (At time of writing)

 

If you bought in November and December of 2018, you might think you have lost money…

If you sold it, then yes you did.

Best case scenario, you still have it and then you have not lost anything.

This is not financial advice, but I think you should probably not sell it.

 

Last year was a bitcoin frenzy.

Driven by greed.

Many saw an opportunity to get rich quick.

Most of those blood sucking buyers actually deserved to lose money.

Not all, but some.

 

Last December when bitcoin was almost $20,000 the world was saying how amazing bitcoin was.

The media couldn’t get enough of the frenzy!

Everyone was asking “How Do I Invest in bitcoin?”

 

How-Do-I-Buy-Bitcoin-greed

 

Pump Pump Pump And Misinformation

Misinformation and redirection along with manipulation created a cool trend.

Greed, greed, greed!

Celebrities were jumping on bitcoin.

They made it look cool.

Most had no idea what they were talking about!

It was the hot thing!

 

So How Do I Invest In Bitcoin?

How different the story today.

No one wants to admit they bought in December when it was high. Bitcoin has become a dark shady topic…

Don’t talk about it in front of your friends in case they think you lost money!

Everyone curses bitcoin because the price has gone down…

Bitcoin didn’t change in anyway.

The price value of a coin went down!

How-Do-I-Buy-Bitcoin-Price-Fall

 

Untrained Investors Trade Based On Price

This is a mistake.

Trading decisions on probable increase.

Buying at a low price expecting the price will go up, they hope they will be right and they will win…

If they are lucky, they sell high and they win!

They base their trading decisions on the assumption they will be right!

Instead, trade on the assumption that you will be wrong!

 

Let’s say bitcoin goes down to $1000…

What will that mean for the untrained investor?

Total disaster!

Panic selling and loss is the normal result.

 

What Should It Mean For You?

It should not make any difference to you!

If the price goes down to $1, it should not make the slightest bit of difference to you.

It is not bitcoin that will create the wealth…

 

Remember too that when bitcoin was created it had no monetary value.

It provided a service.

That service still exists.

The price does not affect the value of the service.

So the question has to be asked…

What were people actually paying $20,000 for in December 2017…

And why will they only pay $4500 for it today?

 

It is the technology behind bitcoin that will create the wealth!

The price value of bitcoin will sky rocket because of the technology it sits on.

 

You have to understand the bitcoin space…

The people who lose money, do not understand what bitcoin is…

If you are in the bitcoin space and speculating on price you need to understand the fundamentals.

 

How-Do-I-Buy-Bitcoin-Peer-To-Peer

 

Why Was Bitcoin Created?

It was created to provide a decentralized peer-to-peer trust-less monetary system.

 

Decentralization and being trust-less are not affected by the short term price changes.

Short term price movements operate outside of the rules of bitcoin.

The fundamentals of bitcoin reflect the long term price evaluation.

To fully understand what I mean, you need to go to the reason bitcoin was created.

But first, let me compare that with another product, namely a watch.

 

How-Do-I-Buy-Bitcoin-Watch

 

If a watch is $100 or a watch is $1,000 they both do the same thing. The underlying fundamental reason a watch was created was to tell time.

It does not matter if the price of the watch changes, the true value of a watch is in it’s use.

The real use of a watch is to tell time.

The price of a watch may change, but if all you want the watch for is to tell time, you really don’t care.

It may come wrapped in gold, it may have a fancy name on it, but the use of a watch (to tell time) is not affected by price.

And that’s the real value.

 
The Price of Bitcoin Does Not Affect What It Does

What it does is it allows us to financially transact without the permission or intervention of a 3rd party.

It creates a decentralized trust-less banking system.

This means it cannot be inflated or devalued.

It cannot be taken from us if we don’t allow it.

It stops fractional reserve banking (which is a collapsing fiat debt system)

We don’t need to trust anyone to use it.

That’s is the true value.

And how much is it worth to stop the governments from fraudulent activities?

Non of that is affected by price.

In fact, if you take away the comparison against fiat and just use the product for what it is designed for, therein lies the true value.

 

Who Controls Our Money

If you want to see who controls your money watch this video:

 

Henry-Ford-Who-Controls-Our-Money

 

Henry Ford – “It is well enough that people of our nation do not understand our banking and monetary system., for if they did, I believe there would be a revolution before tomorrow morning.

 

Value affects price. Price does not affect value.

How much would you buy a bottle of water for?

$1?

What if you were on a desert island about to die of thirst?

$100,000?

The higher the value, the higher the price.

When the world understands the value, you will not be able to stop the price going up.

 

How-Do-I-Buy-Bitcoin-Cybercrime

 

What’s This WWW Thing?

It was not so long ago, that people feared the internet.

I heard people asking “what’s this www thing?”

The media was hysterical. They spread the possibility of government take overs. They promoted bad elements within the internet.

Internet crept into our lives and is now considered a basic necessity of life.

Most people did not go on internet training course to learn how to use it.

Kids use it.

Grandparents use it.

Try taking it away or turning it off for a day and see how happy your family will be.

 

Recommended Action

 

Crypto Is The Same

The media is again telling us that it will be the downfall of mankind.

Governments and banks scare us into thinking it will destroy our finances…

The SEC even tell us that public endorsement of bitcoin could be illegal.

Yet we cannot ignore the technology behind bitcoin.

Like the internet, bitcoin, crypto and blockchain will come to a point where we cannot live without it.

Are you aware that bitcoin is on track to transfer more value than Mastercard on a daily basis?

 

The decentralized and trust-less technology is the key.

This is a significant change in business models.

The world has been waiting for it.

We suffer fraudulent governments and financial institutions for too long.

 

We have been demanding change.

The technology behind bitcoin is the change.

The governments and institutions going to need it.

Corporations and individuals are going to need it.

But the big question is, How Do I Invest In Bitcoin?

 

Crypto Mass Adoption Is Coming

Cryptocurrency will hit mass adoption for this very reason. (Not financial advice)

10% of global GDP will revolve around blockchain technology by 2025.

Not all government offices are bad.

Ohio now allows you to pay your taxes with bitcoin.

As more government offices allow this to happen can you imagine the ripple effect?

 

How-Do-I-Buy-Bitcoin-Blockchain

 

What Is A Blockchain?

IBM Blockchain say it best

“As each transaction occurs, and the parties agree to its details, it’s encoded into a block of digital data and uniquely signed or identified.

Each block is connected to the one before and after it, creating an irreversible, immutable chain.

Blocks are chained together preventing any block from being altered or a block being inserted between two existing blocks.”

 

Blockchain is permanent

It is a permanent ledger of data.

The reason it cannot change it’s encoded.

Encoding a sequence of characters in a specialized format. This allows efficient transmission or storage.

Blockchain technology is a powerful system that is almost impossible to hack.

Businesses around the world are implementing Blockchain into their business models.

An encoded block is permanent.

The technology does not allow hacking.

 

Don’t Exchanges Get Hacked?

You may have heard of hacking in crypto exchanges.

Millions of dollars are reportedly lost.

The loss here is different.

This is not blockchain hacking, but rather platform hacking.

The exchange did not have enough security on it’s platforms.

If you bank online, the same risk occurs.

 

When you send money from your computer to the bank, it an encrypted transmission.

The encrypted transmission from point A to point B is on a secure SSL connection.

Stolen banking data is not stolen in the transmission of the data from you to the bank.

The theft is due to a virus or retrieval from your computer or a compromised bank system.

The transfer is safe.

 

How-Do-I-Buy-Bitcoin-Decentralized

 

Blockchain Technology Is Safe

In the same way, the blockchains technology is safe.

It uses the best encryption available today.

With modern technology today, encrypted data transmission is safe.

Encrypted cryptocurrency is also safe.

It is a trust-less transmission. Users do not need to trust anyone to transfer.

The system does it with security.

Verification of a transaction is possible.

Changed or alteration is not possible.

So it is a trust-less, decentralized blockchain.

 

What does decentralized mean?

To work with bitcoin or crypto, it is important you understand this.

It is one of the fundamentals of crypto.

It is understandable that price fluctuations excite people.

Understanding the fundamentals of blockchain technology is where the wealth is.

 

The lack of understanding is a root cause of financial loss..

In the future, people will say, “I got into bitcoin when it was $1000. It went up to almost $20,000 and I sold it when it went down to $6000. I lost $14,000, but in the end I made $5000!”

In 5 years, bitcoin could be $250,000!

They lost more because they sold based on price not fundamentals.

Technology will create the price increase long term.

 

Decentralized Blockchain

No single authority controls it.

Centralized financial system allow governments to increase or decrease interest rates.

You have no control over that, yet it affects you!

Governments can print more money. You have no control over it.

This devalues the current money.

Your savings devalue.

Your retirement accounts devalue.

Money is not as worth as much.

It’s called inflation.

You have no control over it.

It is a centralized system. The government control it. You do not.

 

How-Do-I-Buy-Bitcoin-Seized

 

Government Can Freeze Your Assets

If they freeze your assets, you cannot get access to them.

Even if you are outside of the US or have never been to the US, they can seize your assets. See the case of Kim Dotcom.

A decentralized blockchain prevents a central authority to make or change rules. It does not allow a centralized authority to mess with your banking.

You may have noticed that governments are trying to enforce regulations on crypto.

They want to centralize it. They want to control it.

Can you understand why they would want to control it.

Removing our control puts us back into a centralized environment.

It enforces dictatorship. They dictate to us.

It removes democracy.

It removes freedom.

 

How-Do-I-Buy-Bitcoin-Banking

 

Banks Want Centralized System

Banks are almost eliminated by decentralized banking.

It is not here yet. We are on the way to full decentralized banking.

It might take a few years to get there, but that is where we are heading.

Government controls the money with centralized banking. It can inflate it. It can devalue it. The bank can invest it and keep the returns.

Your money is 100% out of your control while it is in the bank. They can seize it and prevent you from getting access to it.

A decentralized bitcoin model prohibits government control. They cannot seize your bitcoin.

They cannot take it.

You can store your bitcoin in your own exchanges and external device. If you memorize your private access key, no one can take them away from you.

It cannot be done.

They cannot freeze it.

Cannot devalue it.

It can’t be inflated.

They cannot print more.

No one can shut blockchain.

 

How-Do-I-Buy-Bitcoin-Peer-to-Peer

 

Understanding Torrents Will Help

If you do not understand why blockchain cannot shut down, think about torrents.

Torrents are a peer-to-peer file sharing system.

Users share a link to a file. These files are on one or many computers. The torrent network allows transfer across the network.

No one can stop a transfer as there is no central database. The network of computers store the data

If you remember Limewire, Gnutella or Napster, these were similar systems. They shared files in a similar way and were shutdown.

It was possible to shut Napster down as it was a centralized system.

Napster shut down due to copyright infringement accusations. Napster complied and closed themselves down.

 

Torrents have no central server hosting the data. It’s unstoppable.

When you download a file on torrent, you are downloading a file from a user (or users) on a network from all over the world.

You cannot shut them all down. It cannot happen.

It’s decentralized.

 

How-Do-I-Buy-Bitcoin-Sharing-Information

 

Technology Has A Lot Of Positives

The world would be a better place if the distribution of education remained free.

It would be a good thing if doctors around the world can share their knowledge unhindered.

The sharing of information in a free, unrestricted manner would change the world.

 

Could blockchain share illegal activities?

Yes of course…

But every technology has that same risk.

The postal service can and does send illegal products.

So does the internet…

Everything has bad potential.

Illegal activity is always going to happen, but we cannot stop the good because there is bad.

We need to work together to make it better.

 

How Do I Invest In Bitcoin – Intent Leads The Decision

This is not (again) financial or investing advice.

I am a huge fan in passive investing.

10 years ago I bought a condominium. I rent to a tenant.

My intent was not to sell the property.

My intent is still not to sell it.

So if I am not going to sell it, do I care short term what the value is?

No…

I pay attention to it, but I don’t care.

All I am interested in is the amount of money that comes in from the rental.

Which increases each year…

Regardless of the price!

 

How-Do-I-Buy-Bitcoin-House-Rental

 

House Rentals Not Affected By House Price Changes

Let me explain…

“I buy a house for $200,000 and I rent it out for $5000 a month, I don’t care if the price value of the house drops to $50,000. I have no intention of selling it and I will still get $5000 a month in rent.”

 

It doesn’t matter.

The cash flow is important.

Cash flow allows you buy more assets.

 

When you are using crypto in the same way, it does not matter if the price goes down, because the intent is not to sell it.

My intent is not to sell my bitcoin.

I have not sold any bitcoin since I bought in Feb 2017.

I have not lost anything…

 

What I do is invest my bitcoin in programs.

The end result is a return of more bitcoin.

That is the long term strategy.

Do not confuse skill with a bull market!

 

“Anyone can sail as ship in calm waters!”

The calm waters last year as bitcoin rose in value to almost $20,000 was easy for any bitcoin captain to sail his ship in and make money…

I took all my bitcoin, invested it in programs that multiplied it.

Now I have more bitcoin that this time last year.

About 80% more…

 

I am not interested in the daily fluctuations of the value of bitcoin…

Also I am not interested in the news that the media is putting out…

I am waiting for the fundamental basics and technology of bitcoin to kick in…

 

When it does, everyone who sold their bitcoin will kick themselves…

 

How-Do-I-Buy-Bitcoin-Yes

 

Should I Invest In Bitcoin? – How Do I Invest In Bitcoin?

Should you invest in bitcoin?

  • Do you believe that we need a decentralized trust-less banking system?
  • Are you tired of expensive bank transfers?
  • Do you think it is time you could send money without 3rd party approval?
  • Is bitcoin one of the best opportunities you have ever seen?
  • Do you think it is possible to get healthy returns with bitcoin?
  • Can you see mass adoption of bitcoin in the future?
  • Do you think large corporations will invest in bitcoin?
  • Do you understand the fundamental reason bitcoin was created?

 

If you said YES to any of those questions, then you may want to consider investing in bitcoin?

 
How Do I Invest In Bitcoin?
  • Are you knowledgeable in day trading?
  • Are you prepared to take medium to high risk?
  • Do you understand that you could lose all your money?
  • Can you invest long term (1 year to 5 years?)

 

Do you want to buy bitcoin and trade it on short term basis?

This is called day trading.

It can make a lot of money, but can also be very stressful and you can lose a lot if you do not know what you are doing.

Read my post here about my concerns with day trading.

 

WARNING: If you do not understand day trading techniques, you will almost certainly lose all your money.

Over the last 2 weeks, the price of bitcoin plunged.

I have not listened to a single guru, who accurately predicted what was going to happen using technical analysis.

Nor have I heard a single guru educating us with what is actually going to happen.

My conclusion is they don’t know what is going to happen.

So if the experts cannot predict with certainty, do you think you can?

If you day trade without knowledge you will almost certainly lose all your investment.

If you like those odds, then go ahead.!

Do you want to buy bitcoin and hold it long term?

To hold bitcoin long term is actually to HODL

This can be very profitable.

Over the last 9 years, bitcoin has constantly grown in price value.

You must know when to buy and when to sell.

 

You will often hear “buy low sell high”

Last December 2017 the price was $19,000 a coin.

If you bought then, you may be panicking right now.

The price today is $4043.50.

If you sold now you would lose a lot of money.

You need to wait for the price to come up.

You need to HODL

No one can guarantee the price direction of bitcoin, so day trading and HODL’ing both have risks.

Speculative Buying Against Accumulative Buying

If you day trade or HODL, you are speculatively buying.

You buy speculating that the price will go up.

If you are a nervous investor, this is probably not for you.

You might want something a bit safer.

Bitcoin investing can be very profitable.

This year, a lot of people lost money with bitcoin…

If you are OK with the risk then bitcoin could be for you.

 

Alternative and Safer Ways To Invest

My goal this year is to multiply my bitcoin as much as I can.

I believe that bitcoin is here to stay.

However, I do not day trade anymore. It’s too risky for me.

I do not HODL. It’s boring and slow.

 

The bitcoin I have keeps growing.

I work with specialized platforms that give me great returns.

The volatile prices does not interest me.

The platform I use gives me a return no matter what happens to the price of bitcoin.

 

Would that interest you?

If the price of bitcoin went down and you still made money would that be ok?

In fact I have turned $1,000 into $6,128.00 and actually withdrawn $1,646 from the system. The rest I am leaving in the platform for long term returns.

If you would like information about how you can work with the same platform, you can email me directly at timbennettlive@gmail.com

I will answer any questions you may have and show you how to get started and get similar results.

So How Do I Invest In Bitcoin?

Email me here and I will help you timbennettlive@gmail.com

 

 

 

 

This post “RIP Bitcoin – Is Bitcoin Dead And How Do I Invest In Bitcoin?” was written by Tim Bennett exclusively for BitcoinTrainingCamp.com. ©2018

  1. I trade US tech stocks but I consider myself more of an ‘investor’ more than a day trader – which is why I tremble a little when I hear about people ‘investing’ in Bitcoin. 

    Is it a great opportunity?

    Yeah, definitely, but investing is a patient man’s game – there’s no real room for quick profits with cryptos due to them being so volatile. I think more people should be warned about this before investing in Bitcoin – do you agree?

    • Hi Chris,

      I do agree…

      To many people last year jumped onto bitcoin not even knowing what they were buying.

      It was the ‘in thing’ that everyone was doing…

      The real power of bitcoin has not appeared yet and it could be a while before it does.

      The people who understand what bitcoin is and who are prepared to wait, could be in for the journey of their lives…

      The rest will lose a lot!

      Thanks for your comment

      Tim

  2. Thank you, this is a great in-depth article that dispels some of the myths surrounding Bitcoin. I think there was a lot of panic buying and selling for fear of losing out and fear of losing money!

    I have a relatively small amount invested in Bitcoin, but also some with other crypto currencies. Does the same apply to others, i.e. wold you advise to hold (or hodl) for the time being?

    • Hi David,

      Thanks for your great question.

      I think it is great you are part of the bitcoin movement.

      Each coin has it’s own place in the crypto world.

      I am not allowed to give financial advice as I am not a financial advisor…

      That being said, I would suggest that you research each coin and see what it’s purpose is…

      If you agree with the purpose of the coin, then it could be good to hold.

      One thing I like about what is happening now, is that the crypto tree is being shaken and a lot of the dead fruit will fall…

      It’s a cleaning process and some will die, some will last.

      Choose carefully based on purpose of coin.

      Hope that helps.

      Tim

  3. This is a very good breakdown of bitcoin.  I’m glad I read it.  

    I never quite understood what it is and how it works.  As such, I always shied away from considering investing in it.  Especially, as indicated in your article, confidence in Bitcoin seems to have dropped dramatically compared to just a few short months ago.

    So I appreciate the level of clarity you’ve explained it in.  I am now seriously considering whether to invest.

    Thank you for the information.

    • Hi Cath,

      Thank you so much for your comment.

      I am very happy I was able to help you understand bitcoin a bit more.

      So many people get blinded by the possibility of making money with bitcoin that they forget what it was actually created for.

      And that was financial freedom for us…

      Sadly because of their lack of understanding the opposite happens and they end up losing money.

      Should you decide to invest in bitcoin, i hope you remember bitcoin was created to stop governments and banks from fraudulently controlling us…

      That is worth investing in!

      If you ever decide to get involved in the movement called bitcoin, I hope you will let me guide you.

      Contact me any time at timbennettlive@gmail.com

      Thank  you again!

      Tim

  4. Hi Tim,

    This is a very informative article. I have been reading about bitcoin and not understanding anything or maybe, not at all interested.

    You discussed all about bitcoin profoundly that somehow, made me realize that this is something for the long haul.

    I will go back to your site from time to time to learn more.

    Thanks for sharing.

    Marita

    • Hi Marita,

      Thank you so much for your comment.

      I think bitcoin is very misunderstood. There is a lot of hype and media misinformation (which is deliberate by the way)

      I agree with you. Bitcoin is for the long haul…

      Those who can wait while it settles down, will be the ones who get to enjoy the rewards.

      Those who are in for the quick kill may be disappointed.

      Look forward to another visit from you

      Tim

  5. Good afternoon Tim,

    You are right, we should all cool down. Not good to get a nevous breakdown because Bitcoin has dropped.

    As you point out in your post the value of the Bitcoin lies in having the possibility of making a transaction without permission or intervention of a 3rd party.

    You are right in stating that we suffer fraudulent governments and financial institutions. How many banks left people ruined but were bailed out to then continue the same old way?

    I will let all your information sink it and think there is a good chance I might contact you for further advice.

    Regards, Taetske

    • Hello Taetske…

      You absolutely got the point of this post!

      Less hype and more understanding…

      And control over our own money…

      And moving away from the tyrannical grip of the banking institutions.

      I have almost completely stopped using banks and life has actually become easier…

      And wealthier…

      I look forward to you visiting the site again.

      Need more help?

      Contact me at timbennettlive@gmail.com

      I welcome the conversation.

      Tim

  6. Wow,. that is a lot of great information! I knew very little about bitcoin, but now I think I understand it much, much better! Thanks to your post, I now know why it is so valuable and why the is so much buzz out there about bitcoin and blockchain.

    I am not a day trader so that is definitely not for me. I am more of a mutual fund guy. Are there any ETFs of funds that have some investments in bitcoin that you know of? It seems like a lot of upside potential in the long term as you mentioned in the post.

    • Hello Dave,

      Thanks for your awesome comment.

      I agree day trading is also not for me. I tried it for about 6 months, but got tired of the constant checking. I was super stressed all the time.

      I work with a couple of platforms that might be for you.

      They are less risky and are giving us great returns.

      If you would seriously ready to know more about them, please contact me at timbennettlive@gmail.com

      I would love to help you get started safely.

      Regards,

      Tim

  7. I ne’er quite understood what it’s and the way it works.  As such, I invariably shied faraway from considering investment in it.  Especially, as indicated in your article, confidence in Bitcoin looks to possess born dramatically compared to merely a couple of short months again.This is a really sensible breakdown of bitcoin.  I’m glad I scan it. therefore I appreciate the extent of clarity you’ve explained it in. I’m currently seriously considering whether or not to take a position.Thank you for the knowledge.

    • Hello Mzakapon,

      Thank you for your great comment. I really appreciate you.

      Understanding is the 1st step to working with bitcoin and I hope I was able to give you a clearer picture of what bitcoin is about.

      Should you decide to get started, I can surely guide you.

      Contact me anytime at timbennettlive@gmail.com

      Thank you!

      Tim

  8. I really appreciate coming upon your post as I had no idea what bitcoin was or what was entailed in it.  I have heard it being spoken of in groups and seen it in the media but I really had no idea or concept of what it was and now I feel really empowered and knowledgeable after finding your site.  Can you expand on the term decentralized trust-less system?  I would just like to understand further what that means overall in terms of understanding the nature of bitcoin.  I appreciate your time and insights! Many thanks!

    • Hi Bex,

      Thank you so much for your kind comments.

      Great question.

      If something is decentralized, it means that no one entity can control it. for example the bank is normally referred to as Central Bank.

      It is controlled by a single group.

      Visa and mastercard are centralized financial systems. They control it. We can have no control.

      With decentralized systems, there is no one controlled.

      In the case of bitcoin, there is no one head office. We control it. It is one our cell phones, in the cloud, on our computers.

      The government cannot stop it (even if they make it illegal).

      Centralized banking requires trust. When you put your money in the bank, you have to trust them with it. you hope that they will not go bankrupt and that when you go to get your money, it will still be there.

      Crypto and bitcoin does not require that you trust anyone to use it.

      If you have bitcoin, you can send it to anyone you want.

      You do not need their permission to send (you have to ask the banks to send).

      You can just send it.

      I hope this helps and if you need anymore info about this or more clarification regarding bitcoin, email me at timbennettlive@gmail.com

      Thanks so much for being here.

      Tim

  9. I have been a stock options seller for about 15 years, selling out of the money puts and calls, mostly on ETF’s.  I heard about bitcoin a few years ago, and of course didn’t buy any.  

    I have recently started buying a few here and there, not a lot, but just a little. I’m down pretty hard on this investment, but it isn’t like I’m missing the money or anything.  I’ll hold on and see what happens, I won’t get rich on this investment, but I won’t go broke either.

    One thing most retail investor do though is buy at the top, and sell at the bottom. I think right now there are more sellers than buyers, and once all those weak hands are broken, combined with the end of the mining phase for bitcoin, this could actually rally.

    If anybody is thinking of buying low, now is your chance IMHO.

    • Hi James,

      It’s great to hear the insights of a fellow investor.

      One of the functions of the media, is to vomit bad news to scare people into a frenzy.

      When the price is going up, the whip them into a greed based pack of investors, who sadly buy at the wrong time…

      When the price is up! Bad time to buy normally!

      Then as the price starts to fall they whip the investors into a bunch of victims who are about to lose everything and promote selling.

      When the price is down, it’s normally the worst time to sell.

      So yes I agree most people buy high and sell low and of course we know the way to make money investing is the other way round.

      Buy low…

      Sell high!

      So I am not allowed by law to give financial advice as to what to do…

      But I am buying more right now…

      And I am not selling anything…

      In fact I bought some more bitcoin last night!

      Great to hear your thoughts.

      Thank you

      Tim

  10. Hi Tim, 

    Several people have tried to explain bitcoin to me, this has to be the best explanation I’ve seen to date. I think I’ve ben guilty of seeing it the same way as a lot of people, based on “currency value” and forgetting that it’s unique in the sense that it sits on technology which has its own benefit and value.

    Would you recommend someone becomes at least fairly knowledgeable with regards to day training before venturing in to the world of bitcoin?

    • Hi Nate,

      Thank you for your comment and great question.

      It depends.

      If you are going to buy bitcoin today when the price is about $4000 a coin and then wait for the price to rise to a specific level before selling, you don’t really need to understand day-trading.

      Just watch the price and when it gets to your sell price, then sell.

      I do no day-trading now, but I still work in bitcoin.

      There are different styles of investing and it goes down to what your end goal is and how you want to get there.

      If you are serious about investing in bitcoin and need clarification about how to move forward, I would be happy to chat with you.

      Contact me at timbennettlive@gmail.com

      Look forward to it.

      Tim

  11. Hello and thank you for this informative article. It was really a pleasant read. I plan to invest in Bitcoin but I do not have any experience in doing that. Many of my friends are convincing me that this will be a great investment but I am not sure, because I do not exactly understand the way it will pay off.

    I love your point about value and Henry Ford quote. Looks like Bitcoin price is a matter of value as well. You said it good the higher the value the higher the price. To be honest, what worries me the most is that the price dropped so much over one year.

    You said that you won’t trade anymore but you still think Bitcoin is a good investment. Can you tell me why are you so sure about Bitcoin? Do you think some other crypto currency might overshadow it?

    Thank you.

    Strahinja

    • Hello Strahinja,

      Thank you for your comment and your great questions.

      If I am allowed to advise you, I would suggest that you do not listen to your friends about investing, unless they know exactly what they are talking about.

      I don’t mean that in a bad way, but the hype of bitcoin has made it look really easy and most people have no idea what they are doing.

      They buy on greed and then lose their money.

      I think the price value drop was a good thing for bitcoin.

      1st it is normal that after a massive rise in value (as 2017) there is a correction in price.

      2nd, it will clean out all the uninformed and leave serious investors, which is what bitcoin needs.

      When I said I don’t trade anymore, I was referring to day-trading. It’s way to risky and high stress for me.

      I wanted something a bit less volatile.

      I still invest in bitcoin. I have investments running right now.

      The reason, I believe the world needs a decentralized trust-less financial system and I believe the technology behind crypto will exponentially explode.

      The value is in what this technology does.

      If you need help to get started, email me at timbennettlive@gmail.com

      Thanks again and look forward to helping you get going!

      Tim

  12. I am an invester in stocks and have been investing since more than 15 years. I have had my fair share of gains as well as losses. I have also experience of investing in real estate. However, till a second before I read your article I had no idea about bitcoins or crypto currency. It all used to be like Hebrew to me.  Thanks to you Tim and your wonderful article I now have been able to understand what they actually are.

    Please expect a mail from me by tomorrow seeking further details. Thanks again.

    Gee Ess

    • Hello Gee Ess,

      Thank you so very much.

      It is great to hear from an investor who understands the rise and fall of success.

      I am very happy I was able to throw some light on the bitcoin subject for you.

      I look forward to hearing from you. Email me at timbennettlive@gmail.com

      Thanks again!

      Tim

  13. Hi Tim

    After reading your post, I now understand far more about Bitcoin than I did, although admittedly that was not very much!

    I really wish that I had the money to invest in Bitcoin and trade as you do, but quite simply I don’t!

    I really get your analogy about the present value of the house you have not affecting the amount you can rent it for.

    So what would you say was the level of risk in trading in Bitcoin as you do? Would I be making a good choice if I as able to invest in Bitcoin and trade as you do?

    You post has really made me think, and as I said, if I could afford to invest in Bitcoin, then I would!

    Very many thanks for your ver informative post

    Chrissie 🙂

    • Hi Chrissie,

      Thank you for your comment.

      I really appreciate it.

      One of the things I have always loved about bitcoin is that you can buy small amounts, or bits.

      You can actually but bitcoin for $1, so in fact there is nothing really stopping you other than knowing that.

      The platform I use has an entry point of $10. Most people reading this post can afford $10.

      So if you were serious about getting started, I would be very happy to show you how.

      Let me know at timbennettlive@gmail.com and I can show you exactly how to get going.

      Thanks so much

      Tim

  14. julienne murekatete

    Thank you for sharing with us this informative review on bitcoin.For the first time when i heard about bitcoin,it was like a joke because i could not get any idea about the benefit of investing in bitcoin.

    After ,bitcoin became popular and all rich people were amazed to invest in it. But now.they are no longer amazed saying that the value of bitcoin has decreased.

    People might be happy that now even people of low class can get access to bitcoin no? I don’t think that bitcoin was decreased in value , what happened is that access to it became popular due to technology and it is a good thing that many people are having access to bitcoin rather than a small group of the rich .

    • Hi Julieene,

      Appreciate your comment.

      I agree when I first heard of bitcoin, I thought it was an underground movement. I totally did not understand it. But I wish I had because I 1st heard of bitcoin in 2010.

      That will teach me not to pay attention.

      A lot of people did lose money this year due to poor education about how to invest.

      Right now the price value of bitcoin is the lowest for over a year, however the true value of bitcoin has not changed.

      The real value lies in bitcoin being a decentralized trust-less monetary system.

      Once the world gets it, we will see prices like never before.

      Tim

  15. Hi Tim,

    Thank you for such an in depth article on Bitcoin.  I had no idea what Bitcoin was about before your article.  I had heard of people investing in it and had heard varying opinions on it, very strong opinions too.  But I had not had the time to do the research and figure out what all of the hype was about.  You’re article was very thorough and answered a lot of my questions.  Are you aware of any good tools that monitor any trends with Bitcoin to assist with figuring out when to buy?

    • Hi Kris,

      Thanks for the comment and I am happy you understand a bit more.

      Sadly the media does not really educate anyone about what is really going on, they tend to instill fear all the time (that’s their job).

      There are loads of technical analysis platforms around that give indications of what is possibly going to happen. Sadly it’s still a bit like guessing.

      No one could tell the crash of the last 2 weeks (November 2018). No one accurately predicted it. So tools can only be used as a guide.

      I would with platforms that make money no matter what bitcoin does. If the price goes up, I make money, if it goes down I make money.

      If you would like information about those platforms, then feel free to contact me at timbennettlive@gmail.com

      Look forward to hearing from you.

      Tim

  16. Hello,

    Very informative and relevant investing information. Investing has always been in the back of my mind somewhere. It just wasn’t my forte despite knowing how valuable it could be if one knew what they were doing. That was my issue, I had no idea what I would be doing and kind of left it up to the experts. The information you provided on your site was very interesting, the history on why the bitcoin was created, I had no idea, but it’s purpose I know now is very relevant. Although I have been this sort of absentee investor, but after reading the content of your Bitcoin article I think I may take a more proactive role in my investment efforts. Helping me to determine whether to be a day trader or HODL will require some more assessment of my personal financial situation. Your article not only provided some valuable investing education, it also sparked an interest that I can’t ignore.

    I look forward to reading more about your thoughts on Bitcoin and investing in general!

    All the best,

    Diane

    • Hello Diane,

      Thank you for your comment.

      I know how you fell, I was the same.

      All my life i watched ‘experts’ making money in investments and never really understood what they were doing.

      In Feb 2017 a friend showed my how to take 1st steps into investing with bitcoin.

      I just started with $100 of bitcoin until I understood over time what I was doing.

      If you need someone to gently edge you into bitcoin, I would be happy to share those same tips with you.

      Contact me once you are ready at timbennettlive@gmail.com

      Look forward to it.

      Tim

  17. Anyone choosing to invest in anything should understand it and reseach it, otherwise how would you know if you are making a good investment descision, or not.  This is the best and most informative article that I have read about bitcoin.  I think that I can understand it a little more now.  I like the comparison with a watch and it’s function and how that doesn’t change even if the price does.  I have avoided bitcoin in the past because I did not understand it.

    • Hello Shy and thank you for your awesome comment.

      I totally agree with you. Knowledge is everything.

      Applied knowledge is where the money is!

      I hope I was able to help you understand my appreciation of bitcoin and that you can make an informed decision.

      If you need more help contact me anytime at timbennettlive@gmail.com

      Look forward to talking with you again.

      Tim

  18. If this wasn’t the best , most useful thing I have read all year pinch me! Wow where do I start? How in the world are we free in this world? I have been trying to learn about investing, bitcoin, growing capital for a while now and I am only 26 years old. My fear is that I will struggle forever in life. College taught me nothing. School in general never covered credit, debts, etc. I am not a greedy capitalist monster I just want to survive. The whole money thing is crazy when our paper dollars decrease in value, no in fact they don’t have value anymore right? No more gold to back it? I want to work for myself , I do not know what to do or where to start but I do know that bitcoin has always served its purpose whether not I invested or not , I feel a lot better know more about it. Thank you for sharing.

    • Hello Kira,

      Thank you so much for your comment.

      I really appreciate you and your very kind comments.

      I totally agree with you, that we are taught almost nothing useful at school. I feel this is deliberate.

      If you were serious about getting started, I hope you would allow me to help you.

      I have been an entrepreneur running multiple businesses in different countries and I have worked in Crypto and bitcoin for 2 years.

      Once you decide I am the guy to help, kindly drop me an email at timbennettlive@gmail.com

      I look forward to sharing more information and help with you.

      Tim

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