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Allyourbase

Bitcoin

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Or wait for the next crash and buy on the cheap..

 

I am surprised by the lack of participation/interest in this cryptocurrency carnival, especially on the part of Somalis, this is the perfect currency for us. Basically you can send whatever amount you would like back home with no need for Dahabshiil or other xawaalad. The blockchain system is essentially a giant public ledger which would take care of the large-scale corruption.

 

I was lucky to get on that train last year, in hindsight I wish I bought more, but if you are interested then Litecoin is a pretty good alternative.

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Guje   

I still have my doubts about this whole cryptocurrencies, i have hunch they will be found it in a major way soon. their premise is too good to be true. but time will tell.

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Alpha Blondy;991770 wrote:
upon seeing this thread i did some research.

 

couple of questions....

 

1. how do you acquire bitcoins?

There are a few ways, but depending on where you stay, you can go to websites like coinbase (US) which provides an online 'wallet' system that is pretty secure. If you are UK based there is https://localbitcoins.com/buy_bitcoins and https://bitbargain.co.uk/

 

The biggest exchange for bitcoins is Mt.Gox which is good to see trends and such, but the above websites are really straight forward to deal in.

 

An other way that i have used before is to observe other cryptocurrency and see which one is rising at a rate above that of bitcoin, a while back litecoin gave a favourable rate against bitcoin so I kept going back and forth between them and making use of the difference in the exchange rate.

 

I would say read up on it for the moment, as the price is on the upswing just now, but if you are interested be ready when it drops again. Last week it was at $1200 and it went down to just over $500, it is now hovering over the $750 mark.

 

If this gets accepted to be used like today's fiat currency we are looking at a rise of orders of magnitude.

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