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Should I Buy Additonal Bitcoin with the money I planned to promote my first product with?

Discussion in 'Making Money' started by lukevoice, Nov 15, 2013.

  1. lukevoice

    lukevoice Junior Member

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    You guys are going to make jokes but....

    Hey guys, so I made about 4.5k in 3 weeks..., basically struck gold for a short time period. The method is kind of dying out thanks to a certain social media platform's changes.

    Anyway, I was planning to use the money I earned to really push my first product that I'm working on. However, I've been watching bitcoin rise rapidly and I'm so tempted to get a few more..I bought 2 so far, one for me one for a family member..but I want to get 2 or 3 more to get in before its totally out of my reach financially.

    I know bit coin is not a guranteed thing but what do you think I should do? Go with my original plan and use that money to fund my project? Or take the risk..?

    Thanks, for your input.
     
  2. lmxftw

    lmxftw BANNED BANNED

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    well you'll just have to asses the situation and do some market research like with any type of investment

    if you're product is going to bring you a better ROI than a "probable" value increase of the bitcoin (10-20% !?)
    then you should invest in your product...

    if you plan to release a competitor for Coca-Cola go with the Bitcoins because i've tried it once and let me tell you that plan's retarded...
     
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  3. PrinceVisi

    PrinceVisi Elite Member

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    1 = $450 WTF is happening?

    I am smelling some market crash in the upcoming weeks...
     
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  4. Alpha.

    Alpha. Power Member

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    I second this. If you haven't bought any up to now, just wait it out... it could crash any day and you'd lose quite a bit of cash!
     
  5. DamageX

    DamageX Elite Member

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    Only invest what you can afford to lose.
     
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  6. lukevoice

    lukevoice Junior Member

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    Thanks for the input guys. The product I am developing is the first of its kind. I feel confident in it, and with laser targetting, I can see a good roi. My initial goal is no investment except the domain and hosting. I will only use money to scale or for ads. But I have learned to budget and only use money if there is no other option to get what i need done. I've been putting this off for so long lol.
    Thanks for the input, & yeah i understand what you mean, I only bought two.
     
  7. MeisMJ²

    MeisMJ² Regular Member

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    I think that virtual currency has reached it maximum for a while. I'd recommend waiting it out.
    You don't want to feel like the poor guys who jumped the hype train and bought Twitter for $50 a piece on the first day :)
     
  8. devde

    devde Registered Member

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    I would wait until monday 18th november, that day there will be an important meeting at the senate discussing bitcoin and other cryptocurrencies, then make your decision..
     
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  9. busaboss

    busaboss Power Member

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    $450? WTF the last time I read about Bitcoin it was just $150. I should've bought some. :(
     
  10. Numbuh362

    Numbuh362 Elite Member

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    Just buy a bunch of usb bitcoin miners, they mine at 333m hash. Get a few usb hubs and start mining. This would be better than buying bitcoins.
     
  11. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Premium Member

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  12. Therapy101

    Therapy101 Registered Member

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    I really don't think Bitcoins are going the crash. Right now the percentage of growth isn't as high as the growth in April. Every time the price drops down a little there's always people buying the ones that are being sold at the lower price. But only buy as many Bitcoins as you are willing to lose.
     
  13. SocialMediaManager

    SocialMediaManager Elite Member

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    I was thinking same to put my investment in Bitcoins
     
  14. MadStacks

    MadStacks BANNED BANNED

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    Why not spread out your investment and diversify your risk? You could do both.
     
  15. louisvu

    louisvu Junior Member

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    This new type of investment model is too risky right now and if Washington can't see themselves in the picture you will have alot of BITSHIT flowing around :)
     
  16. phatzilla

    phatzilla Supreme Member

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    Hope you bought them, they're over 1000$ now!!!!
     
  17. mancar487

    mancar487 Jr. VIP Jr. VIP Premium Member

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    In investing, you should always only invest money you can afford to lose. Even more so when investing in bitcoin due to its large fluctuations.
    How about investing that money in IM, e.g. creating a website, etc?