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Sunday, October 26, 2014

Journey Into Bitcoin

Hello Barfstars - have you signed up yet for your FREE daily Bitcoin on the various links on this blog? Some have already - don't be dumb and miss this.
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So, I had promised myself that IF Bitcoin ever came down to under 600 that I'd buy a piece of Bitcoin - simply to have some to own (yes, a bit for the SHTF basis). Now, understand that EACH and every bitcoin is dividable by upwards of 250 million bits. But - of course - most places that sell Bitcoin want you to buy at least 0.001 (yeah, that's about 36 cents at today's prices). So, when the priced dipped to 593 on Aug 8th - I bought 0.05 worth of Bitcoin - about 30 bucks worth. At Coinbase (an excellent choice).

Laughably, as far as an `investment' it then became a falling sword ... of which I lowered my average price by buying about 4 cents worth a Bitcoin every two weeks - buying at 523 next, then 473, 401, 363, 381, 384, and 358 a few days ago. As you see, by my third purchase the price was already under 500 - and it was then that I started following other virtual digital currencies and their marketing efforts and prices. Easily learning that despite the large decline in Bitcoin prices - that others of the nearly 450 cryptocurrencies - were UP HUGELY and over the exact same time frame.

As it turns out there are a lot of `exchanges' - just like there are stock exchanges - and it really turns out that when you are `buying' `things' (the coins) of virtual value - worth fractions of a cent each - you become the ultimate `penny stock' player - I called it `Dental Floss Tycoon' in honor of Zappa. So, I exchanged 0.10 of Bitcoin when my total had reached 0.20 Bitcoin in the Coinbase `wallet'. And I sent it (easily done) to Coins-E where in short order it - the Bitcoin - arrived into my account (I think it took an hour or something like that).

What to buy, what to buy - that Dogecoin looked good - so I brought about 0.06 bitcoin of Dogecoin.... and more and more as the ratio of the value of Dogecoin got even worse (in value ratio in comparison to Bitcoin) - as a consequence - spending even the same amount of Bitcoin would `buy' an even greater quantity of Dogecoin. I bought my first Dogecoin at a value of 0.00039 US dollars per coin - ..... ready for a laugh... the First Day it went down to 0.00031 USD... while Bitcoin maintained (more or less) it's value.

There's a lot more to my Dogecoin story and the on-going nature of what this blog will become... that soon.
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Why not get some FREE Bitcoin and start the adventure from there?

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