Bitcoin Forum

I just invested my life savings into Bitcoin

As in the wall observer poll, where is the panick about? Are some trains about to leave, why? I like this 500$ bitcoin, please don't go yet!

Well... hopefully you're 16. :D

sub 500 soon

I have all my savings into Bitcoin. I'm holding until 2020

Should not put all eggs in one basket. Even if you are careful and do due diligent, unlucky event might still happen.

I wished I did too when the price was around $120  :-\

It is the investment with biggest return you can make, if you know what you are doing. If you can survive your loss, it is a good decision

Whoever is putting his life savings into BTC is a fool.  Doesn't matter what will happen (I still think BTC long term is a very good investment, but regardless).

Never invest what you can't afford to lose.

These two statements contradict each other, so it seems you are the fool.

Make up your mind, it's either a good investment or its not.

It's a good investment but risky, not worth risking what you cannot afford to lose. If you consider "your life savings" something that can vanish overnight and you wouldn't bat an eye, then sure, why not, it's not my definition of "life savings" to be honest, that's what the OP and I were referring to.

How much was that? If its a lot then good luck..

People are ballish about btc :]

you made a good decision in my view, bitcoin is a safe investement, the rising % per year say it

I can't afford to miss out on the upside. Been 100% in for a while now.

At what price did you get in? What prompt you do take such drastic action?

Get rich or die hard trying?

Anyway I think the OP was trolling, I don't think he really put his life savings into it lmao

I won't be surprise actually. Seeing how many people keep getting scammed by IPO scammed coin, Ethereum, Steller, bitsahresx.

A fool and his gold are soon parted?

Some people's life savings are only $5 and other people's are $5 million. If it's only $5 then it's no big deal.

Try not to panic sell now if it drops.

You should have done it with some leverage.
Go ahead and borrow.....

Eh, my life savings amounts to diddly.  But I'm glad I put that diddly into Bitcoin in 2011... I may retire yet!

welcome to bitcoin.

I think you're in luck and the bull market has started again.

I hope it works out for you.

try not to panic if market goes for another test of bottom.

focus on learning as much as you can, secure your stacks, and help bitcoin succeed in wtv way you can.

good luck.

How much are we talkin?

Well done. You sold bed too?

It went well, but it could have ended horribly bad.

If you invested something in 2011 you had all the time to accumulate without risking your "life savings".

I stand by what I said. BTC is still in early stages, investing more that you can afford to lose is not a wise choice, that's all I'm saying, regardless of what we can say in retrospect.

i wonder which market out there is "safe" so that i can invest more then i can afford to lose so i can win with no risk.

You're going wrong in saying that life savings = more than you could afford to lose.  In my case, life savings = pretty much nil.  I basically borrowed $1,000 to buy mining equipment to get Bitcoins.  But if I had lost it all, I could have still survived.  Likewise, most people can afford to lose their life savings.  It wouldn't be fun, but they could afford it.  That's why it's called savings.

I completely agree with you that no one should invest more than they can afford to lose.  But that's a completely different statement than investing your life savings.

Then we agree.   As I said my definition of "life savings" was basically something you could not afford to lose, maybe it's just me.




If what you meant by "life savings" is something you could actually afford to lose, then we are saying the same thing :)

Who said no risk?

You should never put more than you can afford to lose, regardless of what market we are talking about (no such thing as a "safe" market anyway), let alone the riskier ones.

Why are people still talking about "risk"? The tech is solid, adoption is growing at an incredible pace, the economic theory underlying the system is sound. The only real risk is that someone steals your private keys, and with an offline install that risk is pretty much zero. I can't think of a better risk/reward investment. We are literally sitting on the investment opportunity of a lifetime, and at the same time it is among the safest of investments possible. What is wrong with you people?

All the pro do not automatically translate into price increase.

Price only depends on two factors, supply and demand.
 

Idiot.

Another idiot.

when it drops. Investing in bitcoin in 2014 is about one of the worst investment decisions anyone could make. You'd be better off investing your life savings in Solyndra.

i still notice much of this kind of sentiment. i think we may see some real despair before this market turns around. the bulls are resilient, holding on tight, and yet, for 8 months we've been unable to cross increasingly lower upside resistances. the price is being held up by a lack of sellers -- but more apparent is the absence of $$ inflows. if this continues (and it looks like it will -- we just took a shot at a reversal on the 1-day chart and it's failing), a lot of people are going to be in a lot of pain in the coming months.

Not me. The lower it goes the more coins I get for my fiat.

that's true. personally i love it. i took my initial investment out very long ago. i just keep half in cold storage and trade the other half. cheap coins, baby. might even be able to catch some more margin call coins.....

but the people in pain, imo, are the weak bubble chasers who bought at 700, 800, 1000.... and either don't have the funds or the follow-through to average down. and frankly, i can understand being very afraid of averaging down in the current market. when has bitcoin ever seen a bear market this long? 2011 chart is brutal in % lost, but the 2014 chart looks like a trip to zero on the back of a snail... :)

Was sensible to do that 2 years ago (which I did ;), but now... I would not put that much. Bitcoin bubble may come in few years...

You are aware the price hit 3xx several months ago and is significantly higher now? Everyone has had ample opportunity to average down..several times! :)

Stop being so dumb.  Hindsight says you could have made shitload in this market during 2014.  

This is the dumbest thing I've heard here today. You can make a shitload of money in any market if you had psychic powers and knew exactly how the market would move.

The prominent investment strategy on this forum is to HODL!!1!, and anyone who was dumb enough to take it to heart has lost 50% of their portfolio since the beginning of this year.

sure. and there may be much more opportunity coming in that regard. i get the impression that this comment is of the mentality that "you already got your chance for cheap coins." well, that assumes that it's up uP UP from here.

tell that to the 1-day and 1-week down trends. they are very much intact. ;)

Talking in absolutes, how grand. All I have to do now is find one market (absent of shorting) that defies your statement and then it's wrong.  Of course hindsight shows you all the points where you could have bought/sold your way into massive profits, that's the point.

And it also could have been one of the best depending on how you played your cards.  


What does the prominent investment strategy of Bitcointalk have anything to do with the average person making an investment?  What, is it some sort of pre-requisite to have an account on Bitcointalk and subscribe to the echo chamber to open a wallet and/or exchange account?  No, that's stupid, just like ignoring the fact that people could have also made a killing in 2014.

But we get it. You sold your position and now Bitcoin needs to go to shit so you feel validated.

Buy when others are fearful.

When the price was $120, people missed out by wishing they got in at $12, and so on.

If you have invested all your life savings in bitcoin you should know that your investment could have a great return but it can also vanish tomorrow.

I regret not investing my life savings of $10 about five years ago. Everyone hopes they will get the same kind of return in another five years, but I think it's far less likely now.

TRUTH!

dropt is a bull scammer for sure, he is fooling people to buy in downtrend and call it "time to load on" but ignore all the way down of bitcoin has made in this year

falllling is a bear scammer for sure, he is failing at fooling people to sell in uptrend and call it "dump before you loose everything" but ignore all the way up of bitcoin has made in this year.

Just ignore him like the rest of us. Who is the bigger fool, the fool or the one who follows him?

Still not able to predict the future. Keep on trying :)

Bitcoins aren't mainstream yet so there's much more room for the price to grow, just sit down and wait for the fireworks.

^^This

OP is still legit insane tho.

You think the OP is right to invest his life savings in bitcoin, but insane for doing it?  ???

So you "invested" your life savings in something that is not an investment?  :(
Panic is an appropriate response then. Very, very, risky move in my opinion.   

I see you saying that a lot. You are still wrong about it. Miners invest in mining equipment. Everyone who doesn't mine buy coins from miners, that is, we invest in the miners themselves. Net result is that everyone who holds any amount of bitcoin, however big or small, has invested in the network itself. Now you might not think of it as an investment or treat it as such and that's fine, but it is.

Exactly. Mostly nobody here understands that simple fact. Even though I understand this, I have to physically force myself to buy now ignoring psychological fear, remembering how I skipped much buying at $100 levels thinking I will buy lower. Never did.

I understand your point, and I do agree that you are invested in bitcoin and the network just by owning some. What makes it risky is the perception that bitcoin is specifically some sort of investment. It was not conceived of as such and it's strengths are not in the area of a speculative vehicle. Bitcoin will gain in value if it catches on as a payment system, but it may not catch on. That makes it useful to buy some and spend it on online purchases, but risky to hold unless you are going to be attentive. I am also concerned about user Ibian because he claims he put his "life savings" into it. That is a terrible investment strategy. Putting all your money into even a safe investment is a bad idea. He should diversify and mitigate some of his risk. Otherwise his future depends entirely one the outcome of bitcoin. And that is entirely unclear.

your life saving stay the same, just different currency

Thanks for your concern, but the future is clear to me. I don't know what the price will be tomorrow or in a month, but the big picture is obvious: Up. I understand the tech, the economic theory, the cultural and political problems that will inevitably drive the price up. There is no risk, only impatience. There is also nothing else that can make me life-changing money from what little I have now.

Good choice, now see it raise

So you panic bought? How did that work out for you? :P

I'm glad I put some dough into bitcoin when I did. But life savings? That's crazy talk. Maybe for a young student or something. I hope you don't have a family to take care of, if serious.

Bitcoin has much more and wider possible uses than just an internet cash. It is a one and only widely distributed incorruptible consistent database, no other human technology comes close. So I think internet cash aspect was built-in just to get it rolling - needs to have value so the network will be created - once it is created, the value of the blockchain technology itself will be growing with every new application. Mostly everything that we do requires a ledger, so we have not yet started appreciating even the tiniest part of what blockchain can do to move our ways of doing things to a new level.

Welcome to Bitcoin Blatchcorn
I kid but in all honesty I respect you for it and hope this works out well for you, which it should seems like a no brainer to me if you hold for the longest time.
Merchant adoption, increasing awareness, it just needs a larger userbase which will take more time.

This is confirmed.

The most important thing is not to go long on leverage, in my opinion. We've seen so many flash crashes in the past that such a position may completely wipe out your investment and you'll be left with 0 BTC. Also, don't borrow money to buy BTC in general, you may not be able to pay back your loan!

Mind-blowing. "The only real risk is that someone steals your private keys" -- really? No speculative risk at all. To the moon is the only option, yes? One of the safest investments possible? Bitcoin may be the blue chip of cryptocurrency, but you clearly know very little about the scope of investment assets....

when the risk of not taking the risk is gr8er then the risk of taking the risk you have to take the risk.

risky business

Ha, nice play! Be careful though, if you really have done so! Keep at least some FIAT ready for sour times. And everyone, don't invest loaned money! If something goes wrong and you can't pay your lenders back, you're screwed! This is a dangerous game!

If you want to invest in bitcoin you would better buy some of them gradually and not all together.

+1MM

You seems to do it right about perfect time

This is not what he is saying. He is saying that bitcoin itself is not an investment as it is very risky and it is far from certain that it will rise in price over the long term.

IMO it is nothing short of reckless for anyone to invest their life savings into something half as speculative as bitcoin.

It's an investment too if you decide to treat it like that. Bitcoin is not whatever any one person want it to be, it is what the code specifies. What people decide to do with it is another matter.

The amount of risk that you would be taking when you put money into bitcoin would dictate that it is something that is speculative.

So what about it?

That's all relative.  If I make $150,000/yr but only have $1000 in "life savings" and decide to invest it all into Bitcoin, big deal.  Likewise if I'm 18 and my "life savings" is $2,500.  You'll have more than enough time to recoup those losses.

What kind of dope makes $150,000/yr and has $1000 in "life savings"? I suppose that type of person would dump their last 1000 bucks into magic internet money....

That's just f---ed up, bro. That said, anybody living on the Coasts making $150,000/yr and even modestly attempting to keep up with the Joneses is lucky to have $1,000 in life savings. The world has gotten more expensive.

No arguments, no technical analysis, no fundamental analysis, no charts, no graphs.

CONCLUSION: MORON OF EPIC PROPORTIONS DETECTED

If you had waited until now you could have got more bitcoins for your money.

I wish I would have panic-sold my saving when the price dropped the first time at about 630...

sorry for you but scamming bag holders are still trying to fool people to buy in fake recovers with "to da moon fake dream", you should stop them

Someone who spends most of his income on hookers and blow.

We may still get there shortly.  :)

Kind of depends on how much life savings you have.  For me, it was none, so I invested on credit.  It's worked out spectacularly for me so far, and now my life savings IS in Bitcoin simply because I didn't have one before.

At the moment the panic sellers / buyers are sleeping because the volume is really low and the price is steady, the calm before the storm?

You should not sell your entire life savings but your body as well, for BTC. It's how safe it is.

Wasn't it like ~10 months ago that Bank of Amerca estimated the "fair price" of BTC was $1300?

Anywho, there's a "lot" of investor money pouring into infrastructure development.  While this isn't a direct investment in the currency itself, it speaks volumes about what people believe its potential to be.

My condolences.  :(

I think you will have a very long panic attack from all the worrying about how the future of Bitcoin will impact your life but the profit should help you when the medical bills come in the future or maybe just the vacation home mortgage.   ;D   

yes, and you could lend that money to someone at high interests.

Welcome to the all in club homie  BTCBTC See you on the moon BTCBTC
http://fsa.zedge.net/scale.php?img=Mi8wLzIvMS8xLTk0NzY4OTAtMjAyMTIxNC5qcGc&ctype=1&v=4&q=81&xs=620&ys=383&sig=cfe540fc4639affeae30265117a33ee1f93348fb

since december 2013 for me ... since the law about eurozone to steal life economies on bank account.

I put all of my savings into bitcoin. I live off of eating potatos.

I recently invested 0.01% of my life savings into bitcoin and still have more bitcoin than 99.99% of all bitcoin holders.
Poor people make me angry!

I'm sure Bill Gates would consider you very poor. If he invested 0.01% of his life savings into bitcoin he would own them all, and still have change left over.

What would be the average bitcoin holding (excluding Satoshi's stash)?

Even if something is a good investment, you have to take into account its volatility and risk of ruin. So generally even if you find a really good investment, it's wrong to invest all your money in it. You also have to take into account the marginal utility of money. If you are already happy with what you have, there's no point in risking all your money.

That we can know: 13 mill coins / 7 bill persons = 0.002 BTC

I doubt if there are people who are really happy with what they have. :)

That's human nature, you always want more.
As a kid I used to think "if I had a spare $50 I could buy a new game and invite my friends to play".
As a teenager: "If I had a spare $1000 I could buy a new bike".
Now: "Damn I need $50k more to buy a flat".

I wish I was a kid again  :(

I regret nothing.. I am all in with Bitcoin (5 months ago) .. continue to buy 50% of all income.

I think OP is joking...

End of the day panicking doesn't lead you to buy up Bitcoin, leads you to selling it....

Need to set a stagger sell pattern in my opinion though to diversify some of that risk.

Good you will be able to spend them now since Paypal will start using btc. You did wize money transaction back then.

I am packed for the moooon!  :D

I am now selling my car for more bitcoin

I wish I had a car to sell.

you have kidneys. one can do.

Confused as to why you would put it all into bitcoins due to panicking? Anyhow I guess you could probably say that it was either a good decision or a bad decision now I am thinking as buying into it means selling and hopefully gaining a profit.

Was it an expensive car, or a cheap one? How many bitcoins can you buy with the money from the sale?

Your neighbors have kidneys too! A dozen will make you much more money, and keep your business model sustainable beyond the short term!

Give em the old chroloform-icebath one-two! Always stay business-minded.

You would get into less trouble for stealing a dozen neighbor's cars than a dozen neighbor's kidneys.

im buying now loads of BTC and LTC but i have money to live out from.. im not in rush

I also spent way to much money on btc.

You know when someone dies... everyone says.. Oh "I am so sorry for your loss"..


Well...  "I am so sorry for your gains..." 

lol

You dont need to buy more LTC.

Ur not doing so bad, OP.  Only ~6% poorer.  You could have done worse.
No reason to kick yourself over it.

Smart money at Inside Bitcoins has said the ETF is coming this year and will take the price to the moon.  I have no regrets so far  :D

Trading is not a cooperative sport.
If I'm to make a good trade, someone has to make an equally BAD trade.  Consider whatever "smart money" tells you in that light :-\

Dont ruin this for me with your on target analysis and truthful emotional observations... fml lol

If you want to invest in bitcoin you would better buy some of them gradually and not all together.

lol why?
if you think will go up, you buy what you can aford, well unless you have 1.000.000 USD, then si better to buy slow to not push market up.

Smart money dumps on dumb money :D

Smart money is accumulating.

It's just money, bunch of paper. What gives if you lose it... Money comes money goes. As long as you can afford food everything is OK.

If you have a family or kids, things are different.

Don't lose your faith, Satoshi is coming.

http://s27.postimg.org/gv273cder/1985_life_how_235_large.jpg

never buy when its steady or going up, after it goes as low as u think it will, wait some more and if it goes even further down then buy.
as soon as it starts recovering, aim the peak and sell, rinse and repeat..

Does anyone have any money I can borrow?

hmmmmm

Not been rekt enough? You panic FOMO on every pump? People confessing lifesavings invested make an emotionally unstable impression. Get rich quick much? Bitcoin has become a pump and dump shitcoin. It's as good as Ricecoin, Spicecoin, Hobocoin or Grumpycoin now.

you cant say that its pump and dump shit coin when famous companies use it

Maybe I will wait for Amazon to accept then I have a chance of breaking even.

Are you still holding all the coins since you started this thread, or did you sell them ?
Holding till now must have hurt.

They are my retirement fund so yes I am hodling.

Keep hodl'ing, bro. The price will go over 1k again, it's not a question of if, but when.

It's actually a giant fucking "IF"

Always hodling, no stress, coins at $166? epic buying point  8)


What you smoking?

I think he is right

Great investment decision, dropping all your hard earned future money on one of the most speculative and turbulent mediums out there.

And now you want to borrow more money to go even further into the hole with your shitty investment decisions?  You sound like one of those compulsive gamblers in vegas that's gambled his life away and now owes the Russian mafia 50k.

Go seek a therapist.  I'm not trying to insult you, I'm trying to save you.   You need these harsh words to wake the hell up.

 The decisions you've made and continue to make will force you to jump off a bridge soon.  Get control of yourself and your life again.  Man up!!!

nah he'll end up ok this year at some point.  8)

And what will you personally do if it doesn't? lol...I'm sure you (like the rest of these shills) will all pull together and help him pay his heat and water bills, right.  As if you guys geniunely care about the welfare of the next man in this 'greater fools' game haha.

Hey I'm not the one that invested more than I can afford to lose. I'm not a shill either. I just genuinely think at some point in the future he could cash out and be ok.

like me, last year.
no problem here.

wait and you see ... in 2016.  ;D

OP and crazy investors, hold! its time to have balls of steel. Think of he gains, its happening, bitcoin is resilent as a terminator and will not go down.

Yeah, the person will be fine unless he needs to call in some of those coins to pay for necessities before the price can do its thing. I'd wager many interested young people see there's not much else they can do with their fiat to ever set themselves up for retirement in the future. Unlike the last generation and the one before that, it's tough to be upwardly mobile in this job market and save the kind of money needed to purchase investment properties or have a decent interest rate in a bank account or similar to achieve what prior gens were able to build in terms of a nest egg. So, going all in or mostly all in isn't that ridiculous when these younger folks realize that if this all goes bust they'll still have another 20-30+ years of income generation to overcome this hypothetical loss. Bitcoin has always been resilient and this next year is already off to a nice start. However, if I was reaching retirement and had a few hundred thousand to a half a million in fiat, I'd probably only be willing to put in 10-25% as I'd be confidant that that would be more than enough to suit my purposes. Of course, I'm not so that's entirely and unimaginable situation for me to think hard about.

Well said Chef

You are such a nice person!  :)

Not.

As much as he tends to scream at people for messing up their meals, I have to agree with Ramsay. I believe the upward-possibilities for Bitcoin are still immense and it may be the best investment opportunity there is, really!

As seen in the age thread, the demographic for BTC is 20-30 year olds, a lot still living with their parents, so they could put tons of fiat they get through work/whatever and put it in bitcoin, they can take huge risks compared to the average family man with an already stablished business. The young middle class guy got nothing to lose, im one of them and id rather risk it, all indicators say fiat currencies will do nothing but lose purchasing power long term anyway.

Be greedy when others are fearful, and fearful when others are greedy.-Warren Buffett

+1 :D

Something else to think about is even if the floor were to fall out on this (becoming increasingly unlikely from even a few years ago as the peripheral ecosystem dynamics have started to flourish and paying off in terms of laying the foundation for greater adoption), the prospects involved here and the ups and downs have fostered intestinal fortitude in these younger believers and given them/us a discipline factor in using our earnings to think about and focus on building our futures rather than spending most of their/our money on frivolous things like excessive toys (fill in the blank) and living check to check. So, it's a great life lesson and exercise that's taking place also.