Hello, world!

So from what I've heard, bitCoin (and other similar currencies) values have been on the rise.

Now, I don't make much. My only income is ATM is $12/mo through Patreon. I was wondering, should I take some of that every month and invest into BitCoin..? I would likely do this for a long time, and then sell off whatever I had built up. The thing is, I would need to be able to buy in small amounts ($2-5 worth).

Best bet rn is Etherium that's all i know. Maybe invest in Etherium and hope for the best idk

There is a saying in the finance circles that when taxi drivers talk about stocks it's time to sell. Taxi drivers in this example are us, unless you work in finance 😁

It's always good to invest but with so small values I don't know whether the income will be significant

@dontPanic

It's better than me blowing the money. Even if the money happens to loose value, I would have saved some money up.

@Cyanite that's true

I put $3 into Bitcoin a few months ago. I have $20.96 now. I'm not complaining.

The only thing to watch out for is the fact that there is a withdrawal fee.

@ewpratten

That's proof enough for me. :3

Making any sort of financial investment on a whim is really not a good idea. And we are not financial advisers - none of us.

BitCoin, in particular, is a bubble. Anyone who tells you otherwise is trying to scam you. It *will* burst.

Stocks are very much a long term game. But a rollercoaster.

@CrankyOldDev

I realize this. But I honestly plan on investing like $60 over the course of a year. $5/mo, I don't mind loosing that.

My tipp as a german:
Invest in beer. Where else do you get 5%?

Rule #1: Only invest what you can afford to lose.

Rule #2: Don't buy the hype. Whenever people hear "Bitcoin has reached ATH, it's now worth a bajillion dollars!! Buy now!!", they start freaking out and buy whatever they can get their hands on, without questioning what it is, or what is its real value. Don't do that. Question everything.

Rule #3: Bitcoin (and all other cryptocurrencies) is not a magic money-printing machine. You can't just chip in a few bucks and expect them to beome millions (or even just double their value, really). Do your research, do your homework, learn how the trading market works, and *then* start thinking about the best way to invest your money.

Rule #4: Be wary of scams. There's a lot of very legit looking scams behind every corner: from shady altcoins, to shady wallet software, to shady people. Be careful, losing your money is VERY easy.

As far as the "Bitcoin is a bubble" thing: people have been saying that since it started, and look where we are now.

@endor Excellent set of advice.

Re: bubbles... there is no limit to the time a bubble can expand before it eventually pops. But the growth/value of cryptocurrencies is simply unsustainable long term. In my totally uneducated financial opinion.

@CrankyOldDev not to go against you, but one could argue that your financially uneducated opinion is wrong ;)

On the subject though, why do you think it's a bubble?
Sure, there are lots of coins out there (especially most ICOs) that are pretty much blatant scams, but there a few coins out there (BTC, LTC, XMR, and few others), that do carry some value with them, and have a real purpose.

Maybe the growth 'feels' too fast for you? (Whatever that means)
Maybe, but keep in mind that we live in an age where every man and his dog could create a bitcoin wallet and buy some within a few days, if not minutes.
You have no idea how many clueless noobs buy cryptos and join mining pools every day without even knowing what they're doing nor why, just because they heard the latest price hype.
Over time, this will stabilize though, and people will get a clue (hopefully). But for now, we're still in the initial, turbulent, growth phase.

@endor I will concede the floor. I'm honestly going on feel and history, but it is clear you're much more clued in on the subject than I am. I accept your case.

Our history is littered with industries or sectors where there has been a (relatively) rapid period of growth and speculators have become involved. Then it goes beyond what the market can sustain - it becomes out of reach for all but the exceptional. I guess I am, as yet, unconvinced that this particular market is any different.

@CrankyOldDev well, you're right, for all we know this whole thing could die out within a few more years.

But the nice thing about decentralized cryptocurrencies (the properly implemented ones, at least, not the stupid ICOs) is that they're very, very hard to stop, and they're open to everyone. The only regulating authority is mathematics, along with a network of equal peers.
At the end of the day, these cryptos are (or are trying to become) just another form of money. And money will never fade away.