i just bought $5000USD worth of ether and i have no idea how to do anything related to this or to money in general
how fucked am i?
Ether is some good shit, I keep a bottle in my desk and sometimes rub a drop or two under my nose before meetings
You're privileged to witness the first stages of the coming of age of a new blockchain.
Millions of people pouring the product of their labour into building an entirely new cryptoeconomic ecosystem.
Breathing life into 1's and 0's with every dollar and cent. The hopes and dreams of millions energising the very fabric of the internet.
We have become one. We are ETHEREUM
>literally muh new paradigm
i'm not saying ethereum won't make it. maybe it will, maybe it won't, but it will have many massive bubbles and crashes before it does, just like bitcoin did. and it's due for one soon.
This is the first bubble though. And ethereum is actually useful for more than just a currency like bitcoin was. So potentially huge value, and thus the speculation.
Its a gamble, like anything to do with the future, but even if it fails I won't lose much having invested only 1BTC. If it does take off though, that one btc could turn into hundreds of thousands of dollars
Should this be completely avoided if I know absolutely nothing about investing or trading? It's easy enough to get ether but I have no idea how I would go about making money if it quadrupled in value. Do you exchange it for bitcoins? Can you exchange ethereum for dollars?
Use an exchange with a stop-limit function.
You will make some good gains, but be wary of a correction (ETH might be good in the long-term, but only an idiot thinks it isn't rising too fast). But set a stop-limit so when the inevitable dump happens, you'll keep some of your profit.
tfw waiting for your BTC purchase to come in but banks are so damn slow which will result in me missing out on the ether boom this weekend.
There are many more like him, this boom will continue for many weeks from now, BUY EVERY DIP!