Why i’m going to buy 1 Bitcoin

Buying my first Bitcoin

On March 1st I’m going for it. I am going to buy 1 Bitcoin. I have just spent the past day or so reading up and trying to get my head around this topsy-turvy, roller coaster, make believe, fantasy currency and I am genuinely intrigued, so much so I have decided to buy 1 Bitcoin. Currently at time of writing the value of 1 Bitcoin is $705.59. What it will be worth once i’ve finished having my way with it is anybodies guess, but I figure if you don’t have a go and throw some money at phenomenons like this then the time could pass and I will be left to sit and wonder what would have happened otherwise. This same philosophy is also the reason why I have lost money in the past, through general curiosity, stupidity and a thirst for knowledge.

Price of 1 Bitcoin TODAY

So why is this risky and potentially stupid? Well for one its a massive gamble with my own, hard earned £ and my day job pays peanuts. Fluctuations from minute to minute are all a daily norm, speculation spells fear amongst those that have already made a mint from this and noobs alike, but on a personal level, I reckon its here to stay. However, the risky bit is more about what I plan to do with this 1 Bitcoin….

…I’m going to invest in various other Crypto-currencies, play the market, have a dabble, what ever you want to call it, all in various currencies which don’t really exist. I plan to keep an eye on the market over the coming weeks, report back to you guys with my findings, trends and everything that I learn as I go along.

At the time of writing everyone is going crazy, or at least starting rumours about one of the newest, and I have to say more random currencies on the market and that is Dogecoin.

If you don’t know what Dogecoin is then visit the site link and simply watch the intro video that those guys have come up with to launch, its mental and I love it. As much as I love reading thrifty blogs and even write thrift posts of my own, if i’m honest with myself I don’t think my heart is in it. Life is too short to save pennies and live safe. If you enjoy saving money then that is fine by me and I applaud you for your efforts and sensibility, but this is something that the gambling nature in me has just coaxed out. It doesn’t mean you can’t enjoy my round ups and watch me squirm at losing money though, but if you could hold back the ‘Told you so’ quotes whilst I get to grips with this whole market mayhem i’d appreciate it.

Trading currencies

So as a reference point below you will see a whole bunch of prices as of today. I plan on following this religiously watching as meme currencies float into the clouds then hit the ground with a hard thump, only hoping i’m not riding them at that point.

#	Name	Market Cap	Price	Total Supply	Volume (24h)	% Change (24h)	Market Cap Graph (7d)
1	Bitcoin	$ 8,744,292,452	$ 706.22	12,381,825 BTC	$ 61,990,339	+16.48 %
2	Ripples	$ 1,839,357,871	$ 0.018	99,999,998,012 XRP*	$ 123,921	+9.20 %
3	Litecoin	$ 476,046,866	$ 18.59	25,606,104 LTC	$ 17,656,769	+16.18 %
4	Peercoin	$ 102,287,049	$ 4.84	21,135,818 PPC	$ 1,523,214	+16.04 %
5	DogeCoin	$ 80,449,195	$ 0.0017	48,024,933,770 DOGE	$ 5,113,226	+45.73 %
6	Nxt	$ 48,226,669	$ 0.048	999,997,986 NXT*	$ 168,527	+10.60 %
7	MasterCoin	$ 38,435,364	$ 68.25	563,162 MSC*	$ 30,705	+23.76 %
8	Namecoin	$ 36,628,205	$ 4.58	8,003,942 NMC	$ 2,241,095	+22.43 %
9	Quark	$ 19,285,213	$ 0.078	247,533,093 QRK	$ 536,644	+7.20 %
10	ProtoShares	$ 16,544,813	$ 11.38	1,454,374 PTS	$ 304,741	+5.07 %
11	Megacoin	$ 10,983,594	$ 0.50	22,123,175 MEC	$ 34,905	+2.71 %
12	Primecoin	$ 10,562,487	$ 2.41	4,385,831 XPM	$ 212,177	+14.92 %
13	Feathercoin	$ 10,465,050	$ 0.32	32,970,700 FTC	$ 1,345,874	+75.10 %
14	Infinitecoin	$ 9,289,334	$ 0.0001	90,103,603,725 IFC	$ 28,258	+19.51 %
15	WorldCoin	$ 7,744,837	$ 0.18	44,191,818 WDC	$ 426,620	+10.27 %
16	Novacoin	$ 7,738,968	$ 11.04	700,943 NVC	$ 161,990	+23.78 %
17	Vertcoin	$ 6,317,129	$ 3.78	1,670,000 VTC	$ 227,846	+13.05 %
18	Devcoin	$ 3,866,056	$ 0.00062	6,275,420,050 DVC	$ 57,441	+24.02 %
19	YbCoin	$ 3,356,433	$ 3.25	1,033,177 YBC	$ 1,105	+6.92 %
20	Tickets	$ 3,244,625	$ 4.9e-05	66,876,281,414 TIX	$ 3,376	+19.59 %
21	Zetacoin	$ 2,576,526	$ 0.016	160,048,307 ZET	$ 15,569	+15.40 %
22	Digitalcoin	$ 2,430,451	$ 0.18	13,174,006 DGC	$ 61,230	+2.19 %
23	UltraCoin	$ 2,079,810	$ 0.61	3,385,045 UTC	$ 32,272	+8.76 %
24	Terracoin	$ 1,962,025	$ 0.38	5,191,850 TRC	$ 132,820	+89.67 %
25	Applecoin	$ 1,917,110	$ 0.13	14,541,736 APC	$ 110,968	+6.75 %
26	Mooncoin	$ 1,903,334	$ 7.1e-05	26,743,059,588 MOON	$ 50,611	+17.09 %
27	NetCoin	$ 1,878,570	$ 0.0085	220,950,778 NET	$ 4,443	+15.75 %
28	Anoncoin	$ 1,802,411	$ 2.48	727,000 ANC	$ 31,809	+9.05 %
29	Unobtanium	$ 1,706,887	$ 11.37	150,120 UNO	$ 99,184	+16.06 %
30	Kittehcoin	$ 1,560,891	$ 0.00025	6,221,651,421 MEOW	$ 65,491	+17.30 %
31	Freicoin	$ 1,423,952	$ 0.038	37,338,899 FRC	$ 248	+14.38 %
32	Copperlark	$ 1,278,034	$ 0.20	6,256,249 CLR	$ 1,000	+11.49 %
33	Ixcoin	$ 1,269,646	$ 0.07	18,141,362 IXC	$ 2,644	+8.47 %
34	FedoraCoin	$ 1,067,183	$ 8.4e-06	127,156,869,870 TIPS	$ 45,436	+11.50 %
35	SecureCoin	$ 980,281	$ 0.82	1,201,871 SRC	$ 64,288	+4.37 %
36	EarthCoin	$ 927,661	$ 0.00075	1,238,985,643 EAC	$ 28,674	+12.32 %
37	TagCoin	$ 841,093	$ 0.99	849,494 TAG	$ 84,659	+13.64 %
38	LeafCoin	$ 828,183	$ 9.3e-05	8,878,845,406 LEAF	$ 7,061	+31.89 %
39	Cryptogenic Bullion	$ 795,630	$ 0.85	941,176 CGB	$ 5,845	-4.19 %
40	LottoCoin	$ 749,567	$ 0.00011	6,633,613,868 LOT	$ 33,348	+18.04 %
41	BBQCoin	$ 664,321	$ 0.021	31,739,264 BQC	$ 2,409	+12.10 %
42	GoldCoin	$ 639,850	$ 0.022	29,699,870 GLD	$ 724	+15.78 %
43	Sexcoin	$ 598,688	$ 0.01	59,540,325 SXC	$ 11,706	+20.61 %
44	Extremecoin	$ 570,906	$ 0.16	3,465,055 EXC	$ 366	+5.18 %
45	Frozen	$ 518,552	$ 0.092	5,645,844 FZ	$ 1,752	+15.50 %
46	BitBar	$ 471,603	$ 48.64	9,695 BTB	$ 319	+13.44 %
47	MemoryCoin	$ 445,921	$ 0.11	3,996,327 MMC	$ 3,558	+9.49 %
48	NobleCoin	$ 410,150	$ 0.00075	547,895,000 NOBL	$ 6,843	+0.82 %
49	Fastcoin	$ 371,806	$ 0.0064	58,169,274 FST	$ 9,655	+29.39 %
50	RedCoin	$ 365,070	$ 0.011	34,194,716 RED	$ 1,257	+16.12 %
51	DigiByte	$ 353,746	$ 0.00073	482,664,000 DGB	$ 11,908	+20.03 %
52	I0Coin	$ 349,523	$ 0.017	20,184,384 I0C	$ 136	+19.92 %
53	FlorinCoin	$ 319,800	$ 0.0079	40,698,100 FLO	$ 2,302	+14.09 %
54	Junkcoin	$ 297,503	$ 0.029	10,235,700 JKC	$ 2,178	+1.05 %
55	VelocityCoin	$ 289,753	$ 0.0064	45,425,949 VEL	$ 1,214	-13.57 %
56	Karmacoin	$ 286,673	$ 2.8e-05	10,148,151,955 KARM	$ 29,692	+24.34 %
57	AsicCoin	$ 281,895	$ 0.00065	431,082,934 ASC	$ 6,222	+11.86 %
58	Datacoin	$ 280,744	$ 0.16	1,713,492 DTC	$ 629	+10.56 %
59	Deutsche eMark	$ 279,294	$ 0.064	4,393,700 DEM	$ 3,725	+25.75 %
60	Catcoin	$ 274,465	$ 0.25	1,100,900 CAT	$ 2,184	+22.42 %
61	Nyancoin	$ 267,940	$ 0.013	20,449,497 NYAN	$ 5,160	-0.17 %
62	Yacoin	$ 264,366	$ 0.016	16,275,651 YAC	$ 367	-3.98 %
63	QQCoin	$ 262,507	$ 0.016	15,953,091 QQC	$ 2,785	-10.81 %
64	Teacoin	$ 253,121	$ 0.0071	35,441,300 TEA	$ 10,451	+7.20 %
65	Franko	$ 248,229	$ 2.22	111,583 FRK	$ 5,725	+31.31 %
66	Philosopher Stones	$ 221,255	$ 0.13	1,717,245 PHS	$ 484	+24.47 %
67	Electric	$ 218,678	$ 7.8e-05	2,814,966,226 VOLT	$ 26,753	+43.54 %
68	USDe	$ 214,815	$ 0.00083	259,978,850 USDE	$ 4,364	+11.38 %
69	SmartCoin	$ 202,912	$ 0.085	2,394,342 SMC	$ 10,092	-3.18 %
70	GrandCoin	$ 201,346	$ 0.0006	335,417,000 GDC	$ 2,151	+11.30 %
71	HoboNickels	$ 201,073	$ 0.069	2,934,927 HBN	$ 1,079	+21.52 %
72	Bitgem	$ 198,125	$ 7.94	24,937 BTG	$ 16,165	+45.62 %
73	Coino	$ 191,579	$ 0.038	5,080,044 CON	$ 4,301	+1.86 %
74	Bytecoin	$ 191,553	$ 0.094	2,028,696 BTE	$ 3,590	+19.79 %
75	StableCoin	$ 187,861	$ 0.018	10,363,830 SBC	$ 7,160	+31.21 %
76	ReddCoin	$ 172,906	$ 2.1e-05	8,161,110,000 RDD	$ 3,943	-10.78 %
77	Argentum	$ 166,874	$ 0.21	787,561 ARG	$ 6,309	+28.94 %
78	Elacoin	$ 162,828	$ 0.70	232,422 ELC	$ 4,456	+29.78 %
79	RonPaulCoin	$ 157,333	$ 7.04	22,363 RPC	$ 4,064	+16.55 %
80	Diamond	$ 156,363	$ 0.60	259,551 DMD	$ 1,890	+21.78 %
81	42 Coin	$ 153,906	$ 112,995	1.3620597 42	$ 6,071	+10.57 %
82	GlobalCoin	$ 152,032	$ 0.0049	30,753,720 GLC	$ 6,876	+33.26 %
83	KlondikeCoin	$ 147,548	$ 0.033	4,405,940 KDC	$ 9,338	-5.98 %
84	Luckycoin	$ 137,926	$ 0.011	12,511,368 LKY	$ 419	+9.47 %
85	CasinoCoin	$ 135,409	$ 0.013	10,652,120 CSC	$ 1,921	+15.48 %
86	BattleCoin	$ 116,947	$ 0.014	8,185,684 BCX	$ 4,887	+17.76 %
87	Pxlcoin	$ 113,098	$ 0.26	432,825 PXL	$ 8,186	+17.51 %
88	Xivra	$ 100,877	$ 0.00029	351,630,000 XIV	$ 1,952	+16.15 %
89	Grain	$ 95,156	$ 0.00011	851,172,576 GRA	$ 660	-5.38 %
90	Phoenixcoin	$ 94,369	$ 0.0096	9,809,250 PXC	$ 1,443	+8.34 %
91	Noirbits	$ 87,509	$ 0.04	2,162,500 NRB	$ 534	+13.32 %
92	eToken	$ 84,205	$ 0.34	244,232 ETOK	$ 9,618	+52.73 %
93	Joulecoin	$ 72,693	$ 0.017	4,265,728 XJO	$ 761	+15.33 %
94	TeslaCoin	$ 72,521	$ 0.0034	21,304,644 TES	$ 2,408	+22.41 %
95	CraftCoin	$ 63,260	$ 0.19	328,030 CRC	$ 1,294	+1.53 %
96	Astrocoin	$ 53,615	$ 4.73	11,334 ASR	$ 3,981	-20.50 %

Another reason i’m trying this out is because I think I may have lost my way in which direction I want to take my blog, and not really come across many people trying and testing the Bitcoin revolution so thought i’d give it a whirl.

If anybody else wants to join in the madness and buy 1 Bitcoin with me then feel free to comment on this and join in, i’m sure the ride will be more fun in numbers so we can share our findings etc. I read a good post by another novice named Sean Aranda who was just dipping their toe in this world and goes through the very basics and his experience of this whole world. His down to earth, skeptical approach encouraged me to jump in head first and see if I come out the other side. I plan on writing my own post similar to this once I get up and running. After doing my research it seems the most trusted place to buy from is Coinbase.com and one of the most secure platforms to trade is Cryptsy.com.

Anyways, whos up for the ride? It turns out it takes around 10 days to get everything setup so if you do want to join me on 1st March be sure to bare this in mind.