Bitcoin Forum

Im thinking of sinking 2.5k into buying BTC. I know you cant tell for sure but do you think its a good idea?

If you have to ask, the answer is no.

If it's money you can afford to lose then yes. Otherwise, think again.

Do it.

If you just do a speculation, now is not proper to do that.

Or if you want to invest in bitcoin, then just do it.

If you can afford to lose it all...then sure I suppose you could. But that is your decision.

If you can afford to lose it, then yes.  Many believe that bitcoin's future is something of a binary proposition:  it will either succeed wildly or will completely fail with little in between.  Likewise, many people believe in the "succeed wildly" scenario for many, many reasons, but that is no guarantee since no one really knows. 

You can view it as a lottery ticket that seems right now to have pretty good odds for paying off quite well over the long term.

He won't lose all, with all the money currently in circulation and milions invested in hardware, even if the market plummets btc won't reach 0$, . On the other hand BTC is going up every year so I'm really positive about it. With current economy he's better off with BTC than bonds for instance. My yearly BTC investments bring me at least 20x more than a bank deposit would.

I actually disagree with this assessment. The investment in BTC at this point is pretty much binary; it's either worth more than the current price or (at some point in the future) it is worth nothing. The more we feel that the latter will not happen, the closer to the true price of the former BTC will reach.

There are a few events that could make BTC plummet to the relative worth of other trash altcoins, like a 50% attack, a replacement cryptocurrency, or regulatory pressure that pushes speculators out of their coins. I'm not saying that any of these are particularly likely outcomes, but it is possible that your investment becomes worth nearly 0.

Sure you can, that is not much money, just do it. If you have experince in investing in STOCK , FUTURE or FOREX, that will be great for you to purchase it and speculate it, maybe you will get more than 2.5k after.  Just my personal opinion for your reference!

http://en.wikipedia.org/wiki/Dollar_cost_averaging

If you are still new to bitcoin I would buy very little at first to play around with. For example, test sending it around to addresses you make on blockchain.info, using bitcoin-qt, make a paper wallet when booting from a cd such as tails (and then destroy your computer and printer afterwards if you are paranoid), buy something small as well. I have no idea if 2.5k (usd?) is much money to you, but seems like too much for a first purchase for me. Once you are comfortable and are read up on how bitcoin works then think about getting more. The worst thing to do is buy and then not be confident in getting it off an exchange.

As you used the word sinking, I believe you understand the risks. Do it, but then if you're really new to BTC, you'd better start with $250.

I remember that back in February, there was a student who wanted to put his student loan into bitcoin, don't know if he really did it  ;D

https://bitcointalk.org/index.php?topic=149179.msg1583681#msg1583681

If we think in these terms he can lose his money every day, no matter where he keeps it. He can get his bank account hacked, his bank or country can go bankrupt, he can have money seized by government and so on. These things are probably as likely to happen as BTC going down to 0.

For alot of people 2,5 k is alot of money and they have to safe money for years to reach 2,5k

2.5k what?  USD?  GBP?  or Zimbabwean dollars?

If you can afford to lose it all，and my anwser is yes

GBP

If every single bitcoin exchange were programmed so that the price could never be manipulated downward (in other words, no bid side of the orderbook, sellers can only put in an ask equal to or greater than the lowest one, and buyers can only buy for less P2P), then I'd say put every cent you have into BTC, because it could go nowhere but up, market-wise.

Yes, btc price will (should at least) increase in the future.
It is an investment, so you might lose it, but still, it is a nice one :)


Buy buy buy

Why are you buying?

If you're buying with hopes to sell later, better not buy. Bitcoin is extremely risky.

If you're buying because you see bitcoin as a future currency, go ahead.

Assuming you wouldn't miss the money too much if it vanished... then buy buy buy.

You really can't go wrong with bitcoin as an investment (unless you lose your private key).

invest half of that.

never buy again unless price goes below were you first bought in,

if price rises at least you had the balls to put in some money,

if price drops your loving it because you only put in half of what you wanted to and you get more bitcoins then you would have.

bitcoin has a current market cap of only a 6th of that of the company behind "angry birds".

m. andreessen thinks bitcoin is like internet in first half of the 90ies.

if you invest/"sink" now, you are still an early adopter.

so, yes - shove it all in !


http://pandodaily.com/2013/10/03/andreessen-bitcoin-is-like-the-early-internet/

Yes, especially if you are in it for the "long haul." If you need the money liquid then maybe not, but if you can risk having it tied up for a year or so then totally.

if you can effort to loss that money it may be a good investment as BTC prices are skyrocketing at the moment.

wonder if op did buy...

140ies... man those "tired of 140ies" sure look excitingly cheap now.

If you can go several years without needing to liquidate and are okay with being reduced to zero in the worst case, go for it

Maybe he did and then sold on 200 :D

It would be nice to hear from him.