Bitcoin Forum

I don't know if this is were I can post this fleece,  but if this is not supposed to be here someone should help me moved it to the normal board.
I work in a construction company that construct most of prominent contract for some oil and gas companies but one thing here is that I always find it more difficult to save money in a fiat bank, why because to me is a total waist because it's not giving me any profits. I prefer investing 50% of my monthly salary on bitcoin, mostly now that every body on this forum is holding their coins. I hope what am doing isn't a bad idea for not saving funds?

Not a problem if you know that bitcoin can decrease even below $20000 again, but believing that all-time-high is what would be the later result. Accumulating bitcoin for now is good, but if you see any decrease in the price, do not sell but wait until the price rise again.

Saving in bitcoin provides advantages that fiat saving cannot and I would say you are in the right track to save on it. But just like Charles-Tim said, do not look only at saving bitcoin just to earn profits because that would cause you to sell off easily when a dump starts to happen. Rather you should look at saving in bitcoin as a store of value that hedges against inflation and your money will remain same no matter how long it takes.
Again I don’t know how much you earn but 50% off your salary is too big if your salary is your only source of income. Try to save maybe 20 to 30% and hold the rest in fiat so they could be use for emergency purposes rather than running to your bitcoin savings when you’re faced with an emergency.

It is not entirely clear why fiat prevents you from having a savings account; if you manage your finances wisely, you can do this with fiat.
By saving half of your earnings in bitcoin, you take a decent risk, as you obviously hope to make regular profits, but this is not the case. At some point, you may be the loser, as bitcoin is volatile and no one knows the dates of its rise or fall.
I prefer to set aside 10% of the budget for investments, 60% of the budget for the necessary things for life, including food and rent, and 30% for entertainment, because I don’t think it’s reasonable to deny yourself in today’s life, hoping for tomorrow.

Is the other 50% enough to meet your needs during the time you get your salary back? in terms of investment you also have to calculate well because you will feel a loss if you sell bitcoin when the purchase price is higher and your situation is urgently needed to sell your bitcoins, I suggest you divide and you are more detailed about how much your expenses are for one month and prepare funds emergency so you will find out what percentage of money you will put into bitcoin, I don't blame what you are doing but it would be nice if you have good arrangements for your financial and mental stability because bitcoin is quite volatile.

Only you know what your spending and responsibilities are, not us. So we really can't say for sure if this is a good idea or a bad one. Just make sure you wouldn't be in a bad spot if bitcoin decides to drop down to lower levels.

It is better to have good management and not investing all on an asset, but fiat differs from fiat. Like in my country, I do not have confidence in naira (our local currency), it depreciates over time more than expected, that leaves me no option than to not save in naira, although I still go for dollar backed stable coins because of naira depreciation. Yet in last year, as worse as naira was to us as it continued to devalue as usual, it is still better than many other fiat as inflation hit more countries more and they devalue their money more than anything.

There is nothing wrong with investing in bitcoin, but I think you should still have some savings in the bank as it will help you in life emergencies. Because investment is not always profitable, and in particular, bitcoin is an extremely risky investment. I don't care how much you invest in bitcoin, but I want to remind you, investing in bitcoin is very risky, and you should only invest the money that you can lose. Don't just greedily look at the profit it will bring us but forget the risks we face.

I think you only want to say you prefer to hodl your money in bitcoin because I don't see any reason you give not to keep money in fiat bank only that it is difficult for you to do but excuse like third party withdrawal or deposit process would have been a good excuse. So you only saying you hodl your money in bitcoin. For knowledge sake, hodling money in bitcoin is more like investment because of the volatility and risk attached to hodling and not like fiat which is more of savings for some needs.

Investment in bitcoin is not the same with saving of fiat and on the long run if all things were good, the government use the savings for provision of social amenities as investment, so it is also important and good to make such money available through savings.

It sounds made up to me because of what I have put in bold. Unless you mean it's harder to spend the money you have in bitcoin, which I could understand, but I don't think there's much difference, because if you can buy bitcoin, you can exchange bitcoin to fiat in the same way, using the same method but in reverse.

On the other hand, if you can save 50%, it means that you are paid very well and/or have few expenses, but I would always keep something in fiat anyway, the absolute minimum one month of expenses, although it is always recommended between 3 and 6. Once you have that, you can put everything you have left over into bitcoin.

Banks aren't really a place of investments, they do offer investments like bonds and time deposits but the percentage of profit isn't expected to give that much satisfaction for someone who's looking for greater interest rates.
If you're for saving, the banks are the way but the value of your deposit will sooner or later be lower in value due to inflation. Before you commit of 50% of your monthly salary and buy it with bitcoin, look at your situation if it's doable as you're the only one who can tell that if it's possible or not.

As the latest news shows - any bank can freeze your funds, so I have always not considered the option of keeping money there. And deposits do not have time to overtake inflation with their profitability. Therefore, you made the absolutely right decision to invest in cryptocurrencies. I understand that you can't devote even half a day to trading, or studying new altcoins, so I advise you to invest most of your income in Bitcoin. This is a truly reliable investment.

It would be a bad idea if your investment was emotional or based on the rule that Bitcoin will always rise without you having a clear plan for when you will invest, how and when you will sell, unless you plan to invest for the long term and consider that the value of your investment is zero, then you will make profits anyway if you wait For several years, but putting 50% of the salary is not a wise idea.

Think, learn and invest only the extra money that you do not need.

people are tempted by the sweetness of investments that can be profitable without knowing the losses they can receive.  But there's really nothing wrong with setting aside some money to invest in bitcoin because, as many people know, bitcoin is very profitable and hunted by many people even though the price is dropping.  So think carefully about the actions you are taking now so you don't regret it in the future.

If you can make ends meet with 50% of your monthly salary, you can allocate that 50% to invest in bitcoin.
But most people will find it difficult if they do it, especially people who are already married because of the many necessities of life that they must prioritize first.
I only use 20% -30% of my salary to invest in bitcoin and if there is free money at the end of the month that I don't use, I use it to increase my bitcoin investment.
Investing in bitcoin is how you manage the amount you use each month without interfering with allocating funds to other needs.

hmm 50% is really a lot.Quite a lot of risks you get,in two months you fully invest your one salary in Bitcoins.It is important to understand what goal you are pursuing and when you are ready to sell.I'll give you some tips: don't keep everything in one place in case of hacking/losses you will incur big losses.If you store your bitcoins on the exchange,do not forget to put a stop loss so that the coins are sold at a price that is not yet critical and you do not worry once again about the price and its fall.

Even in trading, it is said that we must not trade based on our emotions but the real rule of this market is trade or invest only when the price is down and then sell when the price is rising. There is also no such rule that Bitcoin always rise. Whoever says that are only lying when we know that Bitcoin is a volatile crypto. Before we invest, it's also a must to have a clear plan so that we will know when to sell and buy and the right times.

This isn't only applied to short-term investors but also to those who are into longer terms. If one earns a lot in his job and then he have less expenses then it's possible for them to invest 50% of their salary here in cryptos.

I think it is right to save your money in bitcoin, as long as you know what bitcoin is and what it has, because many people want to double their money in bitcoin but instead lose money. therefore investment is long term and of course we must study in advance what we are going to invest. but just a suggestion, to keep a little money aside in fiat, because now it's more flexible to meet our needs

      -      You think it's a good plan, that's fine from my point of view as long as it doesn't cause harm to your family.

And the expenses that you pay every month will not be affected, even the commodities that you need on a daily basis,.. as long as it is better to just invest in bitcoin that you know yourself that you have too much money mate.

Whatever the price you are buying Bitcoin for in a bear market is a good buying strategy, value are always low in every bear market and value always increases or makes a new all-time high in every bull market, I would say keep buying and holding till the bull market is here and take your profit, holding seems longer in the eye of many that's why they find it hardest to hold their asset and some invest the money they are not ready to invest, looking for a quick return on investment.

Very extraordinary your courage in investing 50% of your salary to invest in bitcoin. Maybe you have calculated everything, I mean 50% of your salary is enough to meet your needs, right? Do you have other savings (not in the form of bitcoin)? If not, I think you should split it again so you can save. Bitcoin won't go up forever, a bear market can happen any time. I mean don't let you later have to sell bitcoin in a downturn because you don't have a savings set aside for an emergency fund. Things like this must be considered too, because it's not uncommon for people to sell bitcoins in a bear market because they really have to.

Not a problem, I think as long you can weather and afford the losses you could incur from investing that much money on bitcoin. You should know by now that bitcoin isn't always rainbows and butterflies and there are times that people lose significant portions of their investments in one go. Be always mindful of that. you strike me as someone who has very little parental responsibilities so I think it's something you can handle for now and I think it's smart you're learning about investing as early as now. Coz it gets progressively harder to invest as time goes by. In any case do a little research and look into diversifying your portfolio more as that could almost always lead to better profits and financial security on your funds, there's a saying in investment that holds true even to this day, "do not put all your eggs in one basket".

Saving in fiat is not advisable because inflation can make it worthless in a few years. My country's currency has lost almost 50% of its worth in less than one year. Although bitcoin is not a guaranteed hedge against inflation at least it could serve as a little protection from the decreasing purchasing power of most currencies because bitcoin price can increase. You took the right decision and saving 50% of your income is commendable, maybe you don't currently have a family that depends on you.

Well, i have always believed that investment into bitcoin are determined on a personal level; if investing your 50% wage into btc monthly does not derail or affect your day to day transactional need for money then you have zero issues at all. So the question is are you buying btc to accumulate some high level of satoshi or you are buying low to sell high? Having a precise intent before investing is pivotal

Depends if you would need liquidity short term. Only you would be aware of your financial situation to make that call. Should you hold enough fiat to not require liquidity within the next few years, then you're probably in a reasonable position.

I'd also add -- it's wise not to hold onto a currency that is systematically stealing your purchasing power by 2% yearly at a minimum. Of course, 2% is what the central banks aim for on a good year. Over recent years it's been near double digits for some currency.

This is a difficult question to answer. Some say that an investor should expect to lose a significant sum of money, before they gain the skill and experience necessary to be consistently profitable. Investment might have a learning curve to it. While I have seen people with no prior experience make money buying stocks and investing. It usually doesn't last. The success makes them bold, in a way which can lead to the opposite of success.

I hope everyone is able to profit from their investments. It might be fair to say, we all win and lose at times. All we can do is try to make better choices and learn from our mistakes. Bitcoin is awesome. I love it. Although it might be said that one key to being a good investor isn't to bet the house on high volatility assets. But rather to find opportunities with a high potential for profit with a low risk factor. You see this in gambling all of the time. Everyone wants to bet on the main event headliner. When they might be better off skipping the main event and looking for opportunities with lower risk on the undercard.

Investing doesn't have to be a "go big or go home" type of thing. You don't have to bet your life on whichever asset is closest in reach. A huge part of the game is searching for better opportunities. Most will not take the time to search for other options. Leaving a good potential of gains for those who do.

As long as you can manage the risks involved from doing so, it would be fine. Problem with investment is having limited resources and funds which is why their plans are being altered at some times wherein they are being pushed to sell early which sometimes results to loss. It is also a good thing to invest only half of your savings and not majority of it, in such way you'd still be able to sustain your daily expenses without worrying of suddenly pulling your investment out.Also, that is the downside of saving wherein you are setting aside the potential of making it bigger on a faster manner than to just pile it up until satisfaction. Pros of saving on the other hand is avoiding to deal with risks.

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Having to invest a portion of your earnings in bitcoin is a good choice if you ask me. So long as you get to understand that, its kit always a win situation as, you could choose to withdraw early and not mind even if it was in a lose. If you've got a longterm plan for your investment, that would be go a long way in helping you.

50% of your salary would be stored or converted through bitcoins is somewhat too much on my part but since its your money then you could choose up on whatever suits you.We have monthly
expenses and day to day ones too which it is really hard to make a budget unless if you are earning that much compared into those average workers then you are really that in a great advantage.
In speaking about if the decision you do make is good then it is really that just right but as long you do know the risk involved on crypto investment then it should be fine.
You should expect the unexpected as always as this market does have lots of surprises.

Yes but it also doesn't offer a loss rate as big as bitcoin volatility. The question shouldn't be "Precisely or erroneous", but whether you're ready or not for the worst case scenario. Because you're here expecting a profit, as long as you hold on to these funds as much as possible to reduce the desire to spend them before your profit target is achieved.

Fiat money cannot be profitable if you keep it in the bank, but you can manage your finances wisely from a portion of your monthly salary. investing 50% of your monthly salary in bitcoin is not a bad idea, you hope that Bitcoin can give you multiple returns when the price starts to increase. But that's just a hope, no guarantee there. Any form of investment is not free from risk, you must be prepared if the worst happens.

It sounds simple, but everything is challenging. You need to know that investment is risk, don't just think about profits and forget the risk can also occur, and Bitcoin is the riskiest investment, the higher the profit, the higher the risk. You need to make sure you are investing with the amount of money that may be lost, meaning that if Bitcoin, unfortunately, collapses or disappears, it will not affect your life.

We don't know how much your income is and what your daily spending is, so we don't have any specific advice. 50% of the monthly salary is a lot to invest in Bitcoin, but if you have a large source of income, it will not be a problem.

As long as you have considered the risks taken. then it's still the right thing. because we believe the price of bitcoin over time will increase. even though the downside risk is unavoidable. and one more thing, you only have to use money that you really won't use in the near future. because it will interfere with your psychology. But if your income is large. so the money you use to invest is really cold money. then I think it's not a bad idea.

I don't know if it is a good or bad idea for you if you invest 50% of your monthly salary because you need to know how much you are spending each month to determine how much money to invest in bitcoin. People are now investing in bitcoin but that doesn't mean you have to use almost all of your money to invest in bitcoin because you have to buy your daily needs. But if your expenses are not too big and you still have a lot of money not used for anything, maybe 50% will be enough to invest in bitcoins. The important thing is that you can manage your income for your life well and invest in preparing for your future.

Yep, amazing benefits! For example, buy at 60.000 and then watch the price fall to 15.000, and watch the "growth" to 20.000 for a year :)
The fact is that such investments have some features:
1. Return on investment, we are talking about positive, probably possible, but after a long time interval
2. Not a fact :)

Therefore, it is logical to invest in bitcoin if you have free money, you are confident in your capabilities for the next 2-5 years, and you have strong nerves and heart

I'm talking about significant amounts. If this is a conversation about small ones - no problems - lost, it’s not a pity, I didn’t get any problems in my life