Bitcoin Forum

I just stumbled upon a question in Yahoo answers. A guy asked the following question...

I have Rs. 50 lacs for investment. i want to generate 50 to 60 k per month or 12 to 15 % return annually.?

Of course, the best answer chosen did not excite me. But, just look at the last but one answer. What if the guy followed the last but one advice, that got one downvote ?

https://in.answers.yahoo.com/question/index?qid=20121212021642AAx9KZX

That was bad investment advice. I agree with the down vote.
Investment advice should depend on the needs of the investor.

what you replied is correct but if he had invested in bitcoin, then i think his investment would have gone down because i think 3years back the price was above 500+ usd and today it is nearly 280+.

How come ? Three years back means it was 2012, when the price was below $100. If he invested then, he could have enjoy the rally from $100 to $1000, i.e. 10 fold increase of his investment in one year. So, he could turn his Rs. 50 lacs to Rs. 5 crore.

And in the end he would have lost them all through gambling.
 ;D

The way he would have earned those 5cr would also have been a kind of a gamble( investing in a cryptocurrecy with an uncertain future is gambling). So, doesn't matter if would have lost them while gambling.

Uncertainty doesn't make everything gambling.Most investments have uncertainty to some level.
I also think that it would have been a great decision on questioner's part had he heeded to that guy's answer and invested even 10% of his money in Bitcoin.That said let me add that only if we knew whats in store in future,we wouldn't be asking for advices

Yes, uncertainty(in the case of investing in bitcoin in 2012) made it look like gambling, or i can say it actually was gambling.
Nobody knows if its is gonna go up, down, sideways or in fucking circles. It’s all a fugazi! Yeah, fugazi, fogazi. It’s a wazi, it’s a woozi. It’s…fairy dust. It doesn’t exist, it’s never landed, it is no matter, it’s not on the elemental chart. It’s not fucking real.

Greed would have got the better of him when the price rose to $1K, he would have held on, then when the price crash happened he would have cursed the guy who suggested it in the first place. He would have tried to recover by gambling and such and would have ended up losing everything and would have bad mouthed bitcoin to every one he met. In hindsight, it is probably a good thing that he did not take the advice as he may even have thought of suicide after losing his 50 lacs. :P