Investing course Free PT1
So now you know about BTC. You have a wallet and probably funded your account. You know
that the value of the BTC is based on the fact that there is liquidity through the markets such
as MtGox. However, the supply and demand is driven by the fact that people can use the BTC
for something real. As long as there is something that people can use the BTC for, there will be
a market. For the naysayers who tell you BTC are not backed by anything, I would tell you that
as long as they can be liquidated to USD or other currencies and as long as BTC can buy you
something useful, there will be a market for them and an associated value. This value will be
driven by the number of people buying up BTC versus the number of people selling BTC.
Staying Informed
So if you are going to join the market, you will want to stay informed. There are many blogs
out there. Here are a few good online resources:
· http://bitcoin.alltop.com/
· https://twitter.com/bitcoinnews
· http://www.btcnn.com/
· http://www.bitcoinblogger.com/
· http://www.thebitcointrader.com/
· http://www.bitcoinnews.com/
A current list can be found on the wiki: https://en.bitcoin.it/wiki/Category:Blogs
Where to Spend
So let’s investigate some of the things that you can buy with BTC. I’m not going to go into much
detail about any one item. I will provide links below and you can investigate for yourself. I am
not personally endorsing any of the places here. I’m just trying to provide a list to kick start
your enjoyment. My goal is to demonstrate that there is a huge marketplace out there.
Equity Trading
These stock floors are not regulated like traditional trading, but some good deals can be
found. Just be careful who you do business with.
GLBSE: https://glbse.com/
BitFloor: https://bitfloor.com/
At the time of this writing, GLBSE had closed due to the lack of regulation. According to an
article given in Bitcoin Magazine, the goal is to open back up in a regulated manner. If they can
pull this off, this would be something significant. As a user, you should be careful in this
space. There can be a lot of scams.
The wiki site maintains all sorts of training sites (This is a must see page.):
https://en.bitcoin.it/wiki/Trade
You can also trade in the following:
· Precious metal
· Gift/Debit card
· Currencies
· Local In Hand Exchanges
Merchants that Accept Bitcoins
There are a number of places that you can go to make purchases with Bitcoins directly.
There are a couple of places that you can visit in order to find where you can spend the
Bitcoins. One of the sites is: https://www.spendbitcoins.com/places/
The wiki page previously mentioned, https://en.bitcoin.it/wiki/Trade, also lists systems you
need in order to enhance your ability to accept Bitcoins:
· Bitcoin eWallets
· Payment systems
· Escrow
· Mobile service
There is a list of VPN Services so that you can maintain anonymous connectivity from areas that
might impede on your right to do something on the internet.
There is a list of internet related services that you can buy that accept BTC. (##) is the number
currently listed.
· Creative Design Services (15 )
· Wed Design Services(50+)
· Art Design Services(6)
· Web hosting(36)
· Dedicated/Virtual Servers(20+)
· Domain Name Hosting(16)
· Email(2)
· VoIP/SMS(13)
· Security Services(7)
· Mobile App Development(3)
· Productivity(1)
· Other(13)
· Search Engines(1)
· Cloud Providers(7)
· Software(5)
· Education Related(13)
· Gambling(30+)
· Games(20+)
· Graphic Design(5)
· File Sharing(8)
· Music(20+)
· Virtual Art(2)
· Digital Downloads(6)
· Entertainment Books/Magazines(8)
· Social Media(2)
· Cyber Begging(1)
· Internet Marketing(1)
So let’s say you are not interested in internet related services. You can go shopping for just
about anything. I had originally planned to include the list from the wiki site in this book;
however, it consumed 25 pages. I realized it would be better to direct you to the wiki. This is a
valuable resource I highly recommend that you visit:
http://en.bitcoin.it/wiki/Trade
Earning Bitcoins
So now you’re excited about everything you can do. However, you don’t want to pay the fees
associated with moving currency into the system. You would rather offer services. If you have
a service, I’m sure you can find a service out there that can help you get started. You certainly
can start a business and make it big in the Bitcoin world. It’s beyond the scope of this book to
tell you how to do that. With the number of services available, I think you can find someone
that can help you. When you figure it out, you could write an eBook to tell others how to do
so. I have not seen one available yet.
If you like eBay and Craigslist, check out the marketplaces if you have something to sell:
Marketplaces
· The Bitcoin Marketplace - Bitcoins classified site and marketplace. Buy and Sell
anything with Bitcoins.
· Bitcoin Harbor - Users can buy and sell for Bitcoins -- out of business.
· Bitmit Secure Bitcoin marketplace. Sell and buy goods for Bitcoin. Worldwide!
· MokiMarket The ebay/craigslist of Bitcoins!
· Bitcoin shopping Shop with your Bitcoins - Worldwide shipping
Auction sites
· CentBiz.com - One of the oldest Penny and Cent Auction online, BitCoins Accepted for
Payment. Available for Portugal, Ireland and UK. 0,25 euro/pound per Bid.
· Penny Auctions - Bartering marketplace where users can purchase credits to bid on
items, or earn credits by auctioning off goods or services as penny auctions for free. Bitcoin
is accepted as payment.
· Bidding Pond (info)
· Bidnapper eBay sniper - Places bids on eBay and other auction sites in the final
seconds, called sniping.
· Bitmarket (info)
· Bitmit - BitCoin auction house & shopping portal (English & German)
· goSnipe eBay Sniper - Place your bid in the final seconds of an eBay auction. Load your
account with Bitcoins.
· Myibidder Auction bid Sniper for eBay - Auction bid Sniper for eBay, bid on last
seconds automatically. The Windows client application can be purchased with Bitcoins.
· HASTUschon? (info) A German auction site.
· BitBid Bitcoin Auction House.
Mining
The big service out there is the mining service. All I’m going to do here is provide you with
some links as to how to get started mining. This is the only way to get BTC for essentially
nothing. You provide the hardware and the electricity to run the equipment, and you get paid.
As long as the electricity costs less than the BTC you are making, you turn a profit.
Beginners guide to mining: http://startbitcoin.com/
Mining Guide: http://www.weusecoins.com/mining-guide.php
Pooled Mining: https://en.bitcoin.it/wiki/Pooled_mining
Mining Hardware: https://en.bitcoin.it/wiki/Mining_hardware_compariso
