9. Where to Get Bitcoins and What to Buy with Them
The great thing about bitcoins is that you cannot fake them, forge them, or inflate them. You can use them for any amount of money in almost any part of the world, with small transaction fees. All you need is a bitcoin wallet, which no government can control or freeze. Plus, you control the bitcoins and no one else does (like a central bank).
You can simply buy bitcoins from people who have them and are selling them. Often people who mine bitcoins like to sell them. You can use a service like Coinbase.com to buy and sell bitcoin and other cryptocurrencies. Individuals and groups sell bitcoin; you can even sell them if you have extra to sell or want to sell because the fiat evaluation is high.
Before you buy bitcoins, though, it’s important to understand the risks. Bitcoin is very volatile and the value could go down or up by 50 percent moments after you pay for it. Don’t buy if you’re not ready to lose. Of course, the same can be said for any investment such as stocks. It’s a risk, but the rewards can be high too.
Working to Earn Bitcoins.
You can also earn bitcoins by working for people who pay for them. You can work in the bitcoin industry by looking for bitcoin jobs online. You can also go straight to some websites that deal with bitcoin and look at the jobs they’re offering. And, you can sign up for services like Jobs4Bitcoins and XBTFreelancer.
If you’re a service provider, you can start accepting bitcoin by signing up with a processing provider and opening a bitcoin account. It can be used at a brick and mortar store or an online store.
To mine bitcoins, you’ll need to choose the right mining hardware called an ASIC miner. Then you’ll need to choose a mining pool and check the numbers. You can engage in cloud mining or personal mining. It’s very important to learn the pitfalls of mining before you invest in doing it. It’s not cheap to do it either.
Learn everything you can about bitcoin mining before you invest the money and time. It can be a thankless task. Remember that there are only 21 million bitcoins, and slightly over 16 million have already been mined. That means that the fewer there are left out there, the harder they are to find.
Once you have some bitcoins, you can use them to buy things. Today, you can buy a lot of things with bitcoin. Many corporate sites accept bitcoin, even Overstock.com. You can travel with Expedia.com, you can buy games via Microsoft, you can buy space travel from Richard Branson, and buy from hundreds of more vendors with bitcoin. In many ways, it’s becoming mainstream. Whether that turns out to be good or bad for the value of bitcoin remains to be seen.
Bitcoin fall back to 7 level. Weekly close at a reversal pattern. $7492 is the major support point for this trend ans a good point to buy up at this area. Prices will correct up to $9033 level before she look for a confirmation trend.
Day chart shows that she will turn green later today and now reaching $7700 base on 09/26 low ass support is a great price to buy when she touches or break at this point.
10. Who Uses Bitcoins?
Bitcoin is a digital or virtual currency first created by an anonymous person who uses the alias Satoshi Nakamoto. There is no middleman, no government control, no banks, and you can buy almost anything with it – from travel (space travel even) to clothes on Overstock.com.
It might be surprising, but bitcoin is mostly being used by people between 25 to 45 years of age, with the amount they have going up as their age goes up. People use bitcoin to buy all sorts of good and services, including illegal transactions for drugs, sex, and more. Since the transactions are anonymous and users don’t always identify themselves, that means it’s hard to know what people are buying.
Having said that, it must be in demand since hundreds of mainstream businesses are now accepting bitcoin as a form of payment. Let’s look at some of the businesses taking bitcoin.
* Overstock.com – They sell all sorts of things, from clothing to furniture. They have low shipping costs, and everything is cheaper than regular stores even though most items are name brands.
* Expedia.com – This is a travel site. You can reserve a hotel room using this service and someday you may be able to pay for all of your travel this way.
* eGifter.com – Buy gifts for people.
* Newegg.com – Buy computer and technology products.
* Shopify Stores – Some vendors that use Shopify, a shopping cart system, will enable their system to accept bitcoin.
* MyDISH.com – Get your DISH network with bitcoin.
* Roadwaymoving.com – This moving company likes taking bitcoin because they avoid some taxes this way.
* PizzaForCoins.com – Using this service is a little like using any of the delivery services. If they have a relationship with the place you want to get your pizza from, you can pay with bitcoin.
* Microsoft.com – That’s right, Microsoft takes bitcoin.
* CheapAir.com – Buy airplane tickets via CheapAir with bitcoin.
* Some Etsy Vendors – Just like the Shopify system, some Etsy sellers choose to take bitcoin for their products. Almost 100 do right now.
* Mint.com – This is bookkeeping software that will take bitcoins for payment.
* Bloomberg.com – This online magazine takes bitcoin for subscription payments.
* The U.S. Libertarian Party – Want to donate to the United States Libertarian Party? They take bitcoin.
* Paidbycoins.com – This service allows you to pay for a lot of things with bitcoin as a middleman.
* And Many More – Every day, someone else decides to take bitcoin. If you want to use bitcoins, you should find a way to start taking it too. The more ways it can be used, the more valuable it becomes.
This gives you an idea of where you can use bitcoins. Of course, you can always take bitcoins yourself and become a bitcoin vendor – whether you’re selling stuff from your home or you have a business selling physical products or services. It’s a great way to give people another way to pay. Plus, you can avoid sales taxes when you take bitcoin, although that is a seriously gray area that you should talk to your accountant about.
Major Indexes like the DAX or German30 weekly chart posted a bear reversal and it expect to move up first before shooting downwards because DAX have a unfinish indecision pattern before last week candle. She will probably hit 12454 level before the fall to last week low.
Day chart previous close is unbalance indecision and more to upside reversal. So today we will see a upside trend. Will hit near12465 level.
DOW has a upside closing for both week and day chart.
Double Indecision close pattern is a upside trend pattern.
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