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Originally Posted by gadolparah
Read through the beginning of the thread and the last few pages, but have not read the entire thing. So apologies because im positive that my question will have been answered somewhere in this thread already. If anyone can point me towards where to find it, or supply me an answer of their own, id appreciate it .
Are bitcoins a viable investment option? Just learned about bitcoins a few days ago and my mind is spinning at the possibilities. I have seen this image and its got me thinking:
So, is anyone ITT doing this? How do you go about trading them? Where do you buy/sell and what kind of fees are you paying (im american), and is this possible to overcome? Any specifics i should know before jumping in?
edit: sorry this post is so noob. trying to work my head around this whole concept. I want to ask questions, but im not sure what the right ones to ask even are. will read the entire middle of this thread.
You can invest if you don't mind swings and it's money you can afford to lose. You get bitcoins by trading with other people or by buying on exchanges or websites. There are exchanges where you can trade bitcoins for fiat, but it takes a little while to get set up with those, and there are also websites that will sell you bitcoins instantly but with significantly higher fees than exchanges.
You can also get bitcoins by mining them, but it's a very slow process unless you make a significant investment into hardware and even then it's often more expensive when you account for hardware depreciation and energy costs than just buying the bitcoins directly. But if you already have a graphics card, particularly one made by ATI, you can probably generate a few bitcents a day, although that will be cut roughly in half by the end of the month.