I’ve been with Bitcoin and Litecoin and well over a year now. The thing about me is that I don’t buy and sell, I mine and sell, and so as a result, I’m not as lucky as many other people whom hold on their coin.
A few days ago, an article talking about a guy whom spent $27 of bitcoin four years ago for about over thousand bitcoin. His purpose to help him research and write a thesis paper on crypto currencies. After he finished his project, and he never look back at those $27 of bitcoin that he purchased, until lately. A couple days ago or when bitcoin hit $900, he went in and check surprisingly to many people he still remembers his password and so on, I’m not sure it was a wallet he has or online bitcoin storage. Anyhow, the value of $27 4 years ago, now worth close to $1 million dollars. Whether he still holding on to those bitcoin or not, no one know as of yet. However many would say, and I would agree, sell 90% of it, keep only 10%.
OK so. What I learned from the above story was this. People whom are into crypto currencies, and want to get involve but don’t have a lot of money or mining equipment, I highly recommend doing the following. Since all these crypto currencies have same concept, there are only a limited amounts of coins available for mine, so the value will always go up, but whether the coin will survive or not is hard to say. People have the same feeling with Bitcoin many years ago, but look at it now. What you can do is, buy $20 worth of cheap coins such as Goldcoin, but you can probably get it for free. In many forums and even ebay they will sell you cheap cryptocoins, Litecoin and Bitcoin not affordable, so look for somehting similar to goldcoin, digitalcoin, bbqcoin, and so on, the one what have less difficulty to mine, these are very cheap and probably free. You can also mine for it with your CPU or GPU for a month or so, until you have a good amount of coins onhand. Now save those coin into e-wallet or online storage, highly recommend on DVD ROM though, make a couple copies an ensure to remember the password. Now store those somewhere and never ever look back until many years later or until one day you hear the coins that you saved hit all time high like Bitcoin, could be 4 years, 10 years, or never, but this is a very low investment, safe and you don’t need to do anything 🙂