Buying BitCoin - BTC Price Index Feb12-2015

I wanted to spend approximately 100 US-Dollars on BTC

As I look at BitCoin, and the culture supporting it, I smile as I realize there is a HIGH PERCENTAGE OF PHYSICISTS among them.  A "Physicist"?  is someone I call an "under-employed mathematical engineer".  (But not an abstract mathematician)
As I look at BitCoin, and the culture supporting it, I smile as I realize there is a HIGH PERCENTAGE OF PHYSICISTS among them. A "Physicist"? is someone I call an "under-employed mathematical engineer". (But not an abstract mathematician)

YESTERDAY's price - I've been watching BTC for 2 months-

I have always had an affinity for numbers and analysis

I bought 100 US-dollars of BitCoin yesterday. And after watching the price movements of BTC, for approximately the last 2 months- While simultaneously watching the news-headlines (both financial and political)... I slapped my hand (figuratively) down on the "buy" button. I wanted 100 dollars-worth. So, I purchased one "half" of a BitCoin, which was (virtually) 100 dollars. I "went" with my gut, and bought it. And, as I had determined to become "more educated" about BitCoin, I wanted to be able to more viscerally do rapid and easy "conversions" and comparisons, within my own head, in a conversational way while speaking to people about BitCoin. Hence my desire to buy "100-US-Dollars" of BTC. I wanted to be able to "compare" BitCoins behavior and value more instinctively, against other market factors.

As you begin to familiarize with BitCoin, you will run into some new verbiage. If I am teaching or tutoring someone in technology, one of my preferred methods of "preparing" someones mind to receive details is to first, just expose them to the vocabulary and definitions. Then, when I drop back into a general explanatory mode, drawing a "verbal and visual road map", they are more prepared to understand and remember the conversation.

So, here, I will just create an article linked to a few online sources. Just begin to see and read a bit of this, and let yourself "familiarize" with the language. Give your brain some time to BEGIN to absorb details and concepts. And don't buy into "sensationalism", neither of the HATING nor the EVANGELIZING variety.

But I believe, that, as time progresses, BitCoin WILL (in my opinion) be vindicated as GOOD, and also well-intentioned technology.

BitCoin MAY even work, exactly as it's engineers -intend.

My purchase was on Feb-12, 2015 for .5 BTC

This was my purchase price: I wanted .5 BTC

I had been watching the price for several weeks, and studies recent news.  I felt the price would NOT be likely to drop to exactly 100-Dollars.  I DID in fact think it was going to start "rising".
I had been watching the price for several weeks, and studies recent news. I felt the price would NOT be likely to drop to exactly 100-Dollars. I DID in fact think it was going to start "rising".

I felt the price was NOT going to "hit" 100 dollars for .5 BTC

So I "bought" BTC.

I felt the price was going to remain 'slightly' above 100-US-Dollars for .5BTC

I had been following events. And I've been "aware" of BitCoin for quite some time now. And for over a year, have become increasingly "curious" about it.

So, upon watching the BTC-Price index...

I suddenly decided that YESTERDAY, I should "do it". (if I wanted 1/2 of a BitCoin at (approx) 100-Dollars worth).


most "newbies" would not want to dive INTO "BitCoin" mining

It is NOT likely at all that "Hash Rates" will mean much to you. It is for a later discussion. But I assure you: ALL ASPECTS of BitCoin are truly open to the public for examination.

BitCoin "mining" is a more technical aspect of the entire BitCoin network. Once you delve into "mining" you are getting into HOW the entire network runs. Yes, the "miners" are "rewarded".

But BitCoin miners are NOT being paid Trillions of dollars, to destroy our economy. We have more reason to doubt governmental budgets that make NO SENSE, and ask for our continued public support in the face of serious economic decline.

Do not even BEGIN to be suspicious of such things as "mining". All is open for the consideration by the public. Mining? It's only "reasonable payment" in return for supporting the networks. But... "mining" is now a technology unto itself, and I am sure that "mining" technology will evolve, along with the SDN-of BitCoin. It is the "infrastructure" of BitCoin itself. The network, is robust. And it is very very difficult to "break". It merely hosts all the secure transactions happening upon the BitCoin SDN network-infrastructure.

Go to CoinDesk, begin reading articles. Watch some videos. Listen to debates on the merits of the new "digital currency".

But do not forget.

There is actually a tremendous, TREMENDOUS (and very significant) History, leading to this particular point in time.

I believe it is possibly a MAJOR "pivotal" point in our (global) society... and I'd LIKE to see us respond well, and happily. We need to remain focused on family, work, and Life. You only need to remember, most of your neighbors (no matter how distant) simply wish to raise families happily.

A decently done, introductory video

The BitCoin price index is publicly available. Go ahead LOOK at it.

And I made my purchase Feb 12, later in the afternoon, EST, (USA).

But I had been referring to one popular exchange named: "Coin Desk". And I've been, of course, listening to various "talking heads". I listen to mainstream news (don't set much stock in that, -at all) But I do primarily listen to alternative news outlets, to gather the "feel" of the public domain... And when I refer to "public" - I mean the GLOBAL domain. (Not American-domain).

With no disrespect, I basically watch something like "Fox News" styles of outlets for ENTERTAINMENT. Yes, they are Humorous- (or 'sad', depending on your philosophical orientations). CNN is likewise so "pre-chewed" and "politically correct", you must fear for it's accuracy.

The "money men"? And the "financial outlets"? Now THOSE people are "interesting". But if someone professes to PURELY believe in "American Investing" (Like Warren Buffet)? The "Oracle of Omaha" may need to rethink his fundamental approach to "faith" in what is "Of Value".

And I always... ALWAYS... fundamentally LOVED, Warren Buffets approach...

But, if you do approach this as a "Global Community" and you allow yourself to now - think - in terms of a Global Currency. ...a TRUE global currency, that is not centrally controlled by the "power mongers" who have driven our economy into the toilet...

This "BitCoin" may actually have tremendous merit and an UNLIMITED "upside".

And this is ESPECIALLY TRUE, if you consider that most of our "global economy" currently excludes at least, 5 or 6 billion people on this planet, and BitCoin (from the Git-Go) is designed to work with, and to work FOR "the people" of the Earth, and will include the remaining 6.5 Billion on a "level playing field"!!!

If "our" current economy is basically comprised of "only" about 1.2 Billion "banked" people... imagine. Just imagine, how much more sudden, explosive, and RAPID growth we will suddenly experience over the next ten years, if we DO grow a fully functional and truly "Global" enconomy! Imagine adding- a market volume of an additional 5 Billion people!

THAT...? is "growth"! So WHERE do you wish to "invest"? In a dying "Petro-Dollar"?

The investment potential of BitCoin ...far .... FAR.... outstrips the American Dollar!

The "upside" of Bitcoin, has FAR more potential than the American Dollar did, one century ago. Why? Because one century ago, in 1913... The American Government (and the Fed) actually rang the "death-knell" that actually sealed the fate of the American Dollar, and took 100 years, to propagate through our culture and our business system, corrupting it from within- until this day. It is a matter of public record, debate, and discussion, but at this point the problem HAS become "academic".

So, I see it as a very very fit "fate", if the academics, now roll on forward and offer an alternative.

The REAL... "academics".

People who LOVE to analyze this stuff. Like I said, I find it personally humorous (and very fitting) that nerds, geeks, dweebs, comp-sci majors, mathematicians and physicists, are working very animatedly on BitCoin.

And YOU? Should feel comforted. Why? They're usually NOT "hawkish" nor "political".

These people are "problem solvers", and BitCoin is being designed (from the ground up) to be a "solution" to a very ............................ very .. large, "problem".

Now, LET the engineers work with no constraints. As usual they WILL "over engineer" it. (But this will be a Good Thing) The "overengineering" of a True Engineer? Is someone who cares deeply about the functionality of his product or his technology. He or She wants it to perform well, forever, and to NEVER break down.


Let the "geeks" do their jobs. And THEN, reward them...

I think you should feel "comforted" that analytical "problem solvers" (who simply love to "solve the problem") are working on this. "Engineers" love to "over engineer" and create products of exceedingly high quality. (It's their managers that force them to "cut costs" and to use shoddy materials.)

Engineers love to design well. As such, they can fundamentally be trusted as guileless.


Only the commercial predators do foolish things like design-in "planned obsolescence" and junk like that. They are always... ALWAYS seeking to "increase" their percentage. (Fundamentally lazy people who "work" to take a "piece of the action"... but do NOT supply the brute-force "labor" or "risk" for it.) Or to say it in common market terms, "they" do horrible things like "churn stocks" to make money. Or lie (outright) in hearings on global / national budgets.

Take a look at the "Dodd-Frank" Act, and recent congressional decisions. (see my article "Politics is as Politics does")


But I do not think the Geek "techn-o-cracy" is very rife with corruption...

Not at this time. I think it's mostly trustworthy. And, if anything, these "creators" want to see individual empowerment become a "Reality".

No, I do not think all "geeks" are angels. Nor are they "perfect". But they are better than the "Money Changers" in the temple courtyard.

Remember, Jesus ONLY PUBLIC DISPLAY OF VIOLENCE.... was to attack the "money changers" in a temple... and what did it get him? ... That is correct. Jesus was very very soon hanging from a Cross... after his "display". Yup. Serves him right. He defied the "central banks" of his time. And died for it. [But Christ, was not a Christian. he was just a teacher. ("Christians" and Christianity came LONG after, and are a different matter).] Jesus defied the people in charge of "finance". And then was killed.

And so did John F. Kennedy. (Kennedy wanted NO part of a "weak" dollar, or weak nation) Kennedy also had a very very strong policy against war, and the war-machine. And HE TOO Was a Man of PEACE, and died for it.


Another of our older presidents had ZERO LOVE for the central banks, and was a military man and a decorated leader... President Andrew (Stonewall) Jackson made it HIS MISSION IN LIFE, to crush the influences of central banking. And on his death he wanted to be known and recognized for Just- One- Thing...

"I KILLED THE BANK"

[President Andrew Jackson]

When asked what his greatest accomplishment had been during his two terms as President, Andrew Jackson replied "I killed the Bank." He was talking about the "Second Bank of the United States", which was our country's second central bank. So, why was Jackson so passionate about terminating the central bank? And why did he believe that central banks were so insidious? And why should you care?

A couple of reasons you might be interested to know about what motivated Jackson:

  1. Though Jackson ended the central bank, it was re-created in 1913 under a new innocuous-sounding name "The Federal Reserve", which is still with us today.
  1. Also, it's interesting to note that Andrew Jackson's populist message relating to banking helped to launch the Democratic party.



The Bottom line? We all just want to "work" and "live"

And preferably in a functional economy that is not being driven into oblivion- by conscious choice. ...SO CHOOSE...
And preferably in a functional economy that is not being driven into oblivion- by conscious choice. ...SO CHOOSE...

Personal Data is completely encrypted in the BitCoin Network

It is ALWAYS encrypted, in each and every transaction.  There is NO "central" repository run by a single human "demanding" your ID.  It is HIDDEN from human eyes.  Once you "buy" into the network and use it, you are "hidden".
It is ALWAYS encrypted, in each and every transaction. There is NO "central" repository run by a single human "demanding" your ID. It is HIDDEN from human eyes. Once you "buy" into the network and use it, you are "hidden".

BitCoin Network is "essentially" free to use. It has negligible fees

Just ONE reason the Global BitCoin Network was created was to "enable" FREE, merchant access and activity.  BTC-Network-infrastructure is designed with High Level Encryption, and Robust Fault Tolerance. A (single) "nuke" can't destroy it.
Just ONE reason the Global BitCoin Network was created was to "enable" FREE, merchant access and activity. BTC-Network-infrastructure is designed with High Level Encryption, and Robust Fault Tolerance. A (single) "nuke" can't destroy it.

Comm-itt-t-t-T-TTTT-T-t-t-ttt

Today's closing price: Feb 13, 2015

I bought it YESTERDAY at approximately 222.00 US-Dollars per BTC
I bought it YESTERDAY at approximately 222.00 US-Dollars per BTC

More by this Author


Comments

No comments yet.

    Sign in or sign up and post using a HubPages Network account.

    0 of 8192 characters used
    Post Comment

    No HTML is allowed in comments, but URLs will be hyperlinked. Comments are not for promoting your articles or other sites.


    Click to Rate This Article
    working