Hi all.
I am fairly new to bitcoins but I know some people that have made alot of money on bitcoins during these years.
So let me introduce myself: I am a guy that have played poker for many years and have made enough money in the peak of online poker but as poker is getting harder I am doing some investments in real life businesses but also thinking to do some investment in stocks and currency. For the currency I have been thinking to invest partially in bitcoins and would like to know the pros and cons of bitcoins and best methodss to trade and be safe. Any links to older posts briefing me into this would be much apriciated.
Thank you guys for your time and hopefully I will be a regular bitcoin talker soon.
Pros:
* Decentralized, without central regulation
* Irreversible, meaning that once you receive a confirmed transaction, you are sure to have it.
* Securely storable using tools such as hardware wallets, paper wallets, multisig
* Great growth potential
Cons:
* Decentralized, without central regulation
* Many scams, with
little to no possibility of refund
* Potential for a crash
* Irreversible, meaning that if your coins are scammed or stolen, you can't do anything about it
* Lost wallet passphrases mean irreversible loss of coins.
Safety tips:
* Trust nobody.
* Offers that seem to good to be true are.
* Understand the relation between private keys, addresses, and transactions
* Safeguard your private keys using tools such as hardware wallets, paper wallets, or by using multisig addresses.
* Keep backups in extremely safe places.
