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RE: War on Cryptocurrencies Has Begun. Time to be Proactive. | Vlog #95
There seems to be this misconception that the minimum amount of bitcoin one can buy is 1.0. That isn't so. You can buy 0.00000001 BTC (one satoshi). Whatever you buy now is likely to be worth at least 10x by 2020.
Exactly. You can start with a $10 investment in Bitcoin; or choose another token that has promise, like perhaps Steem (the Smart Media tokens may breath new life into this).
I agree with @louisthomas that we are reaching a pivotal time and supporters will have to do more to support crypto-currencies if we want to see them succeed. I agree with what @thehutchreport says at the end of this article https://steemit.com/cryptocurrency/@thehutchreport/cryptocurrencies-the-revolution-will-not-be-televised-it-will-be-steemed
... that we may see a bit of a schizophrenic approach from governments who do not want to have their fiat currencies and banking systems overturned by cryptos, and yet they also do not want to miss out on the economic boom that the growth in cryptos may promote.
I get what your'e saying, I could buy a small amount of bitcoin of let's say $100. Of course I don't have to buy a full bitcoin. That has pro's and con's. And I have experimented with some small amounts. Just to see how it works. I made some small profits. 30 - 40 USD. What I have noticed is that exchanges have a good thing going on with the fees you have to pay for every transaction. My point was just that I don't trust governments. As soon as things become too good and beautiful for ordinary people some law is made to make it hard for people again. I'm just wondering how long it will take governments in the US, Canada and Europe to come up with som legislative thing to attack the crypto's. I bet they have already been working on it for some time.
One should never leave crypto on an exchange long term. If you're using Coinbase, you can avoid fees using this trick:
Get a hardware wallet to hold crypto long term.
Andreas Antonopoulos has important advice about holding crypto:
One of these cryptos is going to become the next Google of finance. I'm an IT person and studied Andreas Antonopoulos's book Mastering Bitcoin. The government would have to shut down the internet to eliminate bitcoin. If they do that, then they will have much bigger problems such as the survival of the government itself.
I disagree. Whenever I buy and sell and transfer BTC It seems there is always a transaction fee much higher was like 0.001 BTC So in practically it seems to me that buying less than 0.001 BTC (0.0001, 0.00001, 0.000001, 0.0000001 etc) does not work as you will pay a higher fee to move the bitcoin than the amount you buying. Just my experience. Same problem with the alto coins. I have 0.0009 Ether stuck in one wallet because the minimum to move it is 0.001 so like with BTC the idea of buying 0.0001 even is ridiculous. Just my experience.
Consider it an exaggeration to hammer home the point. In actual reality 0.00000001 btc is probably less than 1/1000th of a penny right now (I didn't do the math on this exactly either). But in the future if whatever label crypto this currency goes under becomes the next Google of finance, then one Satoshi will be approximately equal to one penny.