Bitcoin Forum

I have just allocated some serious money and thinking about investing about $50k on bitcoin. Someone convince me why I should buy $50k worth of bitcoins right now!

look at the graphs ..  it looks like it might be heading back up now, so now would seem like the right time.

W/ all the investor money going into BTC peripheral companies, I'm way bullish on our crypto. Coinbase's latest deal where they allow merchants to be able to offer discounts to purchasers is great as it shows that using BTC gets you a better deal. The more this catches on will make average person want to use it more.

Well, depends what school of thought your looking at. Fundamental analysis? It's not very clear-cut -- quite different than stocks, etc. Technical analysis -- well, obviously there are many differing opinions from that perspective. A look at the long term log growth trend would indicate that it's certainly a good time to buy. But the question is, will that trend continue, and for how long? :P

Personally, I'm a bull.... but I can't be irrational about it.

I think this is all you need to look at - and check out the second tab on the bottom as well.

https://docs.google.com/spreadsheet/ccc?key=0ArD8rjI3DD1WdFIzNDFMeEhVSzhwcEVXZDVzdVpGU2c#gid=1

I think you need to do your own homework rather than asking to be convinced. Its a risky investment. It could continue to grow or it could drop to zero.

Do you have specific questions?

you can invest my loan
https://btcjam.com/listings/14276
:)

it's not particularly safe. i don't know about the latter two sites (they sound shady and i've never heard of them), but on bitfinex, i'd say the order book is extremely thin for the amount of leverage traders can/have taken out. they don't guarantee you that money, you know, in the case of margin calls that can't cover liquidity provided. they may pay out, they may not....

+1, I was estimating 2K at the end of August, however, not sure why the price started to go back again...

What are my guarantees?

If you need to be convinced, probably best not to do it.

Loaning it out is even riskier. If you don't have your private keys, you don't have the coins.  If you do buy, don't leave the coins anywhere (eg avoid a Gox type situation) and use cold storage.

If you are not sure buy 25k$ worth of bitcoins and use a very secured cold storage

Use the rest of it for an other investment like Gold or shares of natural ressources companies

"Rather than dig for gold, why not sell shovels"

With that much $$, why not invest in BTC tools of some kind, find companies you think are doing cool stuff and go with that.

Your guarantee will be that Brooklyn bridge that I own  ;D

Hey bro, you forget www.btcjam.com ! :)

So, if you want to invest in sure way, buy some bitcoin, then send its to a paper wallet ! :)

When price will rise up, sell it and get your money  ;D

Right now is a bad time to invest in BTC. There should be a consolidation during the next 1 - 2 weeks.
If after that it breaks up, it should reach 800$ before a downward correction. If it breaks down, then it will drop well below 340$.

Because simply, the price is going up again, you can read more in the speculation forum.

Or, you can come with a solid UNIQUE idea which is bitcoin-oriented and make profit from it.

Depends if you think it will spike up or down again, if you think it will spike up, then a good time to buy in on BTC, if you think its only the start of a drop, then yes its a bad time to get in on this.

A fool and his money would soon departed.

Putting money in bitcoin is a gamble. You might double your money if you are lucky. You might also lose it all if you are not so lucky.

It has gone from 1200 to 700 then 560 now (after it went lower), it is better to buy when the sentiment is lower than it should be

We don't know if it will go much lower than this before it spikes up

Don't put all your money in one basket. Diversify your bonds brother!

If this guy is asking an advice from strangers in this forum, how long do you think his money will last?

Is it a must to ask someone I know well "family,friends" to be convinced ?

To be a good investor, he must do his own homework and know the risk and potential payoff.

He said he has 50k$ to invest in Bitcoin; he probably has much more invested

For diversification it is important to think about geographic, sector, systemic risk, tax and politics

Yup. No sure thing about making money other wise it would be completely covered, especially when it sounds so good.

Also doing your own homework is a great way to find out BTC rather than us, unless you want us to invest it for you OP.

Where does this contradict with what the OP is asking for ?

Did he tell us, I will be making X, kindly make it for me and I will just enjoy the profits ?

...

boumalo is offering excellent advice: diversify!

And if you do not own any gold, then buy some.  The real thing, not "paper gold".

This forum is known to be full of scammers. I have a toll bridge to sell if you are interested.

Convince Me!
The traditional ACH system for transferring money is very slow compared to Bitcoin. You are witnessing a rare opportunity to be part of a major change in the way the world moves, stores and uses money.

i agree generally -- though i feel that we saw seller exhaustion last night. either higher lows or lower low w/ bullish rsi divergence on all exchanges. and i think we saw the first breakout of resistance this morning.... :)

I normally enjoy checking BTC prices frequently, but the last couple of days I stopped watching for changes. This will just take time to get moving again, and $700 should happen later this month.

i certainly think $700 will happen later this month... i think we may see it sooner than some bulls think, even. i think we saw real seller exhaustion here, so when this starts to break up, there will be a good amount of panic this time -- not just short squeeze like the last bounces...

$50k to Invest - Convince Me!
OK, I'm convinced...Now I need to come up with $50,000 in extra income.  :D

Sound advise. Your money, your risk, you have to do your own due dilligence.

You can also look around for some so called 2.0 coins, though I do not have much faith in them.

This.

A public forum is a horrible place to get information when you are trying to determine where to put your money.

With that being said I think that bitcoin will succeed over the long term and that the price will increase over the long term.

It was exciting and fun to be back closer to 700$ but we are @ 570$ now

It is Bitcoin so we could be @ a few thousands and on TV in a few months ;D

well, to be fair, i could see someone posting some compelling TA charts, or links and explanation of fundamental analysis, and it could be quite useful in fact. this is a new asset class -- and there is not much from the professional sphere that breaks it down for retail investors.

Real estate price, over long term, will go up also.

You may need to consider investing in real estate than bitcoin.

Maybe, but I would still not consider this forum to be a good place for information regarding where to put my money. For technical information, yes. But there is just too much of a conflict of interest (most people here hold bitcoin) and there are many scams here.

Unless this is completely disposable investment money, I would not recommend allocating it all to BTC at once, unless you are looking at it from the medium to long term.   Regardless, you should be diversifying it amongst several investments...

One of the double your bitcoins ponzi's

Just want to hear other people's insight before I make a decision. I've already done some research but want to hear people that are already invested on this thing.

I'm not looking for quick money making schemes

This might be your choice to invest cryptory (http://"https://www.cryptory.com/?id=458058")

Maybe it is the same guy trying to sc.am

My advice is to put your $50k in bitfinex.com and invest in lending, the interest rate now is 0.25% a day.
So for $50k that is $125 daily interest, then buy bitcoin with your interest.

http://dealbook.nytimes.com/2014/01/21/why-bitcoin-matters/?_php=true&_type=blogs&_r=0

http://www.telegraph.co.uk/technology/news/10881213/The-coming-digital-anarchy.html

http://www.bbc.co.uk/programmes/b045c1wg


here are two good articles and a bbc radio broadcast i recommend. i think your idea is great. i did the same move about 12 months ago in the 130 $ region. right after i bought btc price fell 40%. it felt so bad. so if you invest this amount, you have to be honest to yourself and admit you are gambling here. write the $ 50k off, as if lost already.

keep only 10% of the coins you buy on the exchanges if you feel the need for some trading. put the rest on cold storage. it is not that difficult, but very important. bitcoin itself is gambling, but leaving btc on an exchange is gambling on top of gambling.

if you make decent profit (and i think you will be able to 10fold your investment) don´t forget to direct some btc towards charity. it is good for your karma  ;)

Why would they?

You don't really own the property since you need to pay a myriad of taxes and you need to repair it; if the taxes are raised or if the interest rates go up, the price of "your" property is likely to go down; I am not even talking about a revolution or a natural disaster that will reduce the price tremendously

I'd probably diversify my investment, putting all of your hard earned cash on one horse seems a little rash don't you think? Instead, buy bitcoins for 10k and use the rest for something else! Maybe buy some Gold & Silver (plus a safety deposit box) or invest in a start-up or two in your neighborhood.

He is thinking of buying 50k$ worth of bitcoins but as stated previously he has more available; 50k$ out of a 1m$ portfolio isn't that extreme if you are young

If you need someone to convince you to invest into something, than you should NOT invest!
You should invest into something you understand and if you need convincing, than you don't understand BTC at all. Plus....what if you'r investment, for a reason or two fails...that you can blame others for convincing you? That's not the way it goes. Your money, your decision, your responsibility.

Good strategy.

Just make sure to pay news to bitfinex from time to time in case they try to gox depositors.

Don't really own the property? That's a negative oversimplification of real property rights.

Also, my last mortgage was LESS per month (including taxes and ins) than the going rate for rent in my area. Then I sold the house after three years of ownership and net profited 70k USD. That's net profit.

I'm sure you can find plenty of negative stories too, but to say you can't make money in real estate right now is patently false. It just takes a smart investment.

You can make a lot more if you were lending on these forms.

If you believe in bitcoin, just buy some and put it away in cold storage.  These sites that are lending bitcoin and paying interest are just too risky.  There have been plenty of scams from various people over the years.  Plenty of people who thought their security was good and it wasn't.  Plenty of people who just made silly mistakes and lost coins (e.g. paying 20 BTC in mining fees because they were using raw transactions and didn't understand change).

I am not sure what exactly Adam Smith is trying to say above (e.g. "pay news to bitfinex from time to time"), but I would say that if any third party has control of your coins, you do not own them and you take the risk of being Gox'd because you do not own the coins - you have someone who OWES you coins and you are creditor to them.  And good luck getting them back if they Gox you. 

In short, if you need to be convinced, don't do it.  If you want to hear the pros and cons to help you decide, probably best not to do it.  That said, there are plenty of reasons that bitcoin has a lot of potential to appreciate over the years and many people believe it will, but it could also go to zero, so it is risky.  There are a ton of articles dealing with the pros of bitcoin all over the place, if you think they are accurate, buy.

:-)

Your money lent out on BFX is not that safe. Certainly not without risk. Lots of swaps borrowed, not so many bids in the order book... ::)

Sellers are exhausted here. I don't think we'll see under $500 for a long time, if ever.

I'm thinking similarly. Once we crack this 610 resistance, we are headed to the 700s! ;D

Not looking to gamble. I'm looking at bitcoin as a long term investment. I just don't know how solid that investment will be!

I got a little scared over the weekend though...was going back and forth!

...

@ JessyMatt

If $50,000 is a BIG part of your net wealth AND you were scared by the price volatility over just one weekend, then I would suggest that you not put all 50k in BTC...

Spread some of your money into other things, you will likely sleep better.

***

But, on Thursday I am going to a Meetup to learn more about BTC and do some buying myself...

Whoever is interested in longtherm investing in Bitcoin should buy longtherm. As you know Bitcoin is volatile, if you buy several times you avoid buying at tops. You get more some sort of an average price. But since Bitcoin has a golden future (maybe in 5 or 10 years, hopefully sooner) you will be paid very well.

Spread your investment over a longer period and set some buy orders at redicculose low levels (for example this 340 USD). You might be lucky and a spike down gets your order fullfilled.

If you set buy orders you need to block some money on exchanges which is kind of risky

I have no problem with buying over the course of 3months 6months and a year as it may reduce your variance

Seem like everyone giving you advice think bitcoin still go up many folds over the foreseeable future.

Beside dotcom bubble which make a small number of early investors extremely wealthy, I can't think of any investment that will go up exponentially for late investors.

Bitcoin market cap is 7.7Billions it could reach hundreds of billions of market cap of today's dollar considering the potential

For exemple, Paypal valuation is 40Billions

I really think Bitcoin is going up. But of course there's a big risk.

I'd invest $50k only if I had $1M+, to be honest.

Bitcoin has many other competitors out there more than Paypal. And governments around the world are doing everything they can to discourage its usage.

Start a thread asking how many people regret not getting into BTC when they first learned about it.  Then ask them how many would still invest today and I have a feeling you will begin to have a clue of how Big BTC could be. 

I'd look for all different kinds of ways to invest not just in buying and holding BTC itself.  Ofcourse I'd have a hefty stash of coins, I just think their are other opportunities to bad had.

Lots of people think that Bitcoin is great to do payments. I'm not sure if payment-protocol is the perfect use-case for Bitcoin.
But what I do know is, that Bitcoin is great in what it was intentionally ment to be. Good for hoarding. Good to put your savings away.

Costs you 0.- to hold it over years, compared to other commodities

The clue is that bitcoin needs to attract people, but it's only attracting people if the price is right.
And the price is only right if the chart is right.

The difference between the .com bubble and the Bitcoin bubble is that the .com companies burn money every day (because they have to pay bills, employees..... ).
The Bitcoin value doesn't get burned away by just sitting there. It only goes down if people sell and quit with Bitcoin. If more people leave than enter.

I'm here to stay

Nice argumentation, I agree

+1

The cost to have the infrastructure running and electricity for mining (as well as confirmation) aren't cheap. The cost for miners is not cheap also, which indirectly guard against 51% attack.

free advice: people on this forum will only push you to benefit their own position. so the general rule (around here) is: bullish always, UP UP UP! this is a forum full of holders (some of them with heavy bags)....

I can add to your argumentation that you can travel with your wealth stored in a brain wallet and it's great to wire money

50k serious money ? hahaha
I'm 22 year toyboy with 300 btc , this is bitcoin and your nothing my man.
Go pump some alt coin , maybe your ego will get satisfied .

You look like you have something to prove, you are frustrated and you are not happy

Care to sign an address which has 300BTC to give some credibility to your claim? ;)

The FBI is auctioning off its coins and the rich organizations and individuals are flocking to bid and buy them
For investment purposes or to have Bitcoin capital
If they were not a serious investment why would so much interest be around this auction.

Bitcoin was not meant for hoarding.

Bitcoin was designed to be a P2P way of transmitting payments that is not centralized and resolves the double spending issues with other P2P payment methods.

If you think that bitcoin is meant for hoarding then what would give it it's value?

Bitcoin is also used as a store of wealth, wealth you can move or transfer easily and cheapily without having a third party risk

If you can afford to lose the $50k, I say go for it.  But that's the caveat.  Bitcoin is a high risk, high return investment.  It's gone up exponentially so far.  And it could continue to do so. 

Or the governments decide they don't like it and collectively ban all the exchanges, which would effectively kill the market value.  Or the banks / credit card companies could decide they don't like bitcoin and build up enough mining rigs to execute a 51% attack and destroy bitcoin.  Right now, I think Bitcoin has been around long enough that if some huge technical flaw was going to be discovered that would sink it, it would have been discovered already. 

The real risk is not the technology, but the possibility that the bankers and government, who both benefit from the current system and would lose a significant amount of power under a world where Bitcoin is in control rather than fiat decide to take down Bitcoin.  Then again, the other risk is that most of the major gains have already happened.  Yes, it's possible that bitcoin will take over the financial world, and if that happens, the value that exists today will continue to skyrocket.  But it's also possible that the people who haven't invested yet will look at all the hacks and thefts and decide it's too risky, and stay far away from Bitcoin.  I can't say I'd blame them if they did.

If you do decide to invest the $50k in bitcoin, whatever you do, ignore the people telling you to loan your bitcoins out on bitfinex, and any other related sites like that.  Learn from those of us who lost money on Coinlenders, trying to lend out bitcoins or put your bitcoins in a site that lends them out is a sucker's bet.  If you really, really, want to do that, you may as well just go and take at least half that $50k and burn it to save yourself the trouble of waiting.  Then invest the rest and you'll be better off than if you had invested all of it in one of those sites.  (Yes, CL investors lost money due to a hack / theft.  But it could have easily happened because of a "bank run" due to the run up in price.  There's no such thing as FDIC insurance for bitcoins.)

if we have to convince you, dont do it please. buy a nice car or make holidays.

You should not be selfish, but give neutral advice.

Is Bitcoin a buy? Yes
Is Bitcoin a buy right now? Nobody knows, so buy over a long period, several times to average the price.

And buying a car or making holidays is not an investment, it's an expense.

buying at a dip is allways a nice idea.
my advice is to definetly buy bitcoin, but dont spend all 50k at once, start with 10k and get use to trading.

if bitcoin price dips to 500$ next few days, i would definetly buy, and same thing goes to litecoin under 9$
cheers

I would say invest what ever you can afford to lose, though honestly if you're having to be convinced to invest that means that you're totally not sold on the idea of investing $50k. Regardless, if you do invest $50k be aware that anything can happen. It is bitcoin after all.

Technology is advancing all around us, so it makes sense that currency should evolve too. Do you remember rotary telephones? Well, some day, we'll be saying, "Do you remember when we were kids, and we used paper money?" and "Do you remember when bank transfers took several days, or even weeks at times?"

Evolve, man. Just evolve with the times.

If i had that money now i would buy all 50k on Bitcoin, i think is cheap right now. Then i would invest a 10% in altcoins (DARK, LTC, DOGES

and another one of your choise), hold a 70% as possible because price will rise soon after the incoming June's end goverment auction, and

the 20% remaining i would bet it intelligently in this World Cup 2014. Believe me you can easily have twice 50k by the end of this year.

Why not bet 50k on lottery then? The potential payout is even larger than what you have suggested here.

Nobody try to convince you, if you know enough about Bitcoin you already invested with your everything. ;)

I would say storing wealth in Bitcoin is more likely scenario than thinking you will get rich with the 50k investment.

But never loan the Bitcoins actually, many learned it hard way. I mean keep private keys, or you have just some promise to pay back, not Bitcoins

he has to convince himself, otherwise it has no value and he doesnt understand bitcoin. dont listen to other people if you want to make an investment.

Take a look at the charts, see the trends. I firmly believe in a years time bitcoin will be at the minimum of $1,250. Your best bet is to get in now as still 70%~ do not know about bitcoin!

Don't do anything to your 50k until you know what you are doing, in the mean time put them in CDs.

It is a horrible idea to gamble money that you intend to invest. When you gamble you will either earn somewhat of a return or will lose everything for that bet. When you invest you have the possibility of earning a wide range of both positive and negative returns. It would be possible to lose your entire investment when you invest, however the chances of this are relatively low

I'm already convinced, over half of all investment funds should be put into Bitcoin right away, before the next big Rally.  :)

I don't buy garbage that only depreciates.

"If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry." - Satoshi Nakamoto, July 29, 2010

Maybe yes, that's why i said intelligently: study matches, players, news, everything you can, ask for opinions; do not gamble, point with

finger or play just for crazy playing, invest. Of course it is a high risk investment, but in this life "if you don't risk you don't get rich"  ;)


Watch the of ShakyhandsBTCer please...

That's why only the 20%, in fact only 10% should be good...

the OP should be attempting to learn more about Bitcoin and how it works rather then try to get people to convince him to invest. 

This is the bull case: http://www.honestnode.com/bitcoin-fair-value-a-first-assessment/

Make your own judgments about how reasonable the assumptions are.

Good Info...I'm reading now...thanks

Too many good news coming out now for bitcoin price (http://www.bitcoinvalues.net/bitcoin-to-usd-convert-bitcoins-to-dollars.html) to dip. The Silk Road auction by the U.S. Marshals, bitcoin officially made legal in California, MaseterCard applying for bitcoin patents etc.

And retail giant newegg and 1800 flowering about to accept bitcoin.

There's no time to convince you!
Buy quickly, as price is about to go up soon!

Then sell half at 4000$ and hodl the rest. Lucky you, with good money to invest at a good time :)

Why do you want to be convinced? Or are you just looking for an echo chamber? How about doing your research on your own and reaching your own conclusions?

This is true for the long term, however it should be noted that over the short term there is a very good chance that bitcoin could fall.

Don't put all your money into Bitcoin, look into promising altcoins. Bitcoin is software. If software is not being developed, it's eventually replaced by better software. Bitcoin has stagnated in its development.

What was the price at the time this thread started vs right now? How much would the 50k be worth in todays prices?

Bitcoin went up quite a lot in the last 30 days. So, 50k worth back then would worth at least 60k USD in bitcoin today.

Buy some bitcoin ATM machines and put them next to western union in California could be profitable.

The cost of regulation probably makes it way more expensive than 50k$ to get a single Bitcoin ATM in California, you have to be very rich to be able to live well in California because the taxes are huge


558$ in June 15, 658$ now so 50k$ worth of bitcoins back then would be 59k$ now

The recent news out of Russia is good and to hold BTC would be smart. An recent review from the government is positve IMO.  From what I read they are waiting to see what more they can learn about BTC and feel it would not be wise to ban this type of currency.  Obviously things like Silk Road are mentioned buy that is the same with all curriencies.

To me it seems BTC is a potentially very good investment today and has proven to have been so in the past.

What's the rush? Dollar cost averaging over a long period of time to dispense the 50k into bitcoins sounds safer to me.

its better if you invest all of those 50k into mining gear
and mine btc!you will be reach!

This is very bad advice. Most miners will never ROI

Cheaper to buy coin directly if you are thinking about mining.

Buying bitcoin is the best investment you can make. It's like the guaranteed lottery ticket of the century.

Anyone with a brain knows that mainstream adoption is going to happen. Paypal will integrate bitcoin and big companies like walmart and gas stations will start accepting BTC. Wall street is going to invest.

It is all going to happen very quickly, and when it does, the price will go from 1k to upwards of 10k very quickly. Most people here will be shocked.

Or if you don't believe me just give me your 50k and I will invest it for you.

OP, you really didn't give much information to work with.

I think that in order to evaluate investment potential seriously, one would probably need to know a little more about:

--other investments you have made, in order to determine your portfolio diversity
--your personal degree of risk aversion, particularly for this investment
--perhaps most importantly, your time horizon for the investment--are you looking for returns in 6 months?  50 years?

Anybody who says that bitcoin has to keep going up because it has always gone up in the past is obviously not correct.  There are a ton of unknowns and unknowables. 

Whether it's $50K you want to invest or $5K or $500K is really immaterial.  Bitcoin could grow significantly in value.  It could also drop precipitously.  If you're cashing out a 401(k) from a job change and this represents your largest holding, I wouldn't invest it all in bitcoin...not even a significant chunk.  This is speculation, really, not an investment based on fundamentals.  If you've got a couple million and you're looking for a fun, interesting, and involved way of taking on some risk, by all means, have fun.

It was an interesting read.  I hate to say it, because I would LOVE to believe in his final valuation tally, but I can't really get on board with it at this point for a couple of reasons:

1)  I believe his calculations on velocity are incorrect.  He seems to be counting too many transactions in his measure of velocity.  I can't get at it for certain, but it looks as though he would count mining activity as a transaction.  It is not the case that the printing of fiat counts as a transaction of that dollar value, so his calculation of velocity is not an apples-to-apples comparison.

2)  The author took some fairly wild leaps in assuming that Bitcoin would account for 10% of the global remittance market, 10% of all internet transactions, and even 10% of black market transactions.  That is a LOT of adoption almost all completely betting on the come.

3)  Not sure how the M2 piece is somehow additive to other elements of price/value.  In my humble opinion, and I recognize that I could be completely wrong, analyzing as M2 is a separate analysis, not additive to other elements.  In my view, M2 is actually probably the best tool for estimating price/value for Bitcoin, but I don't think you can do that analysis and then add it to the other elements of value.  I'd also add that he flat out plucked that $27.2 billion out of thin air.  There really isn't any rational analysis for why one might use the M2 of a medium country as opposed to a small one or even as opposed to the US M2.

So...good read, lots of thought-provoking elements, but I think he's shooting pretty high with the analysis.

Spend them on building and advertising a bitcoin gambling site, THAT is an investment.

Interesting that not one person here has a real reason to invest in bitcoin....

The real reasons are so obvious.
- limited supply
- extremely easy to trade
- built in deflation
- low fees

I don't need a list of 100 reasons to buy bitcoin. The few that are there are very convincing.

For me...

If they are not real to you, what is real?

Just do it.

I am going to convince you not to buy, end of story...

Odd is better to just lend at bitfinex or short 1:1 on icbit.

10% of the remittance market would be huge. I agree that this would simply not be likely as most transactions are done in countries local currencies whose government gives incentives to use.

IF I had an extra 50k to invest, id probably invest 5k in gold, 20k in silver and the rest in bitcoin. That way you are somewhat spread and not putting all your eggs in one basket.

You should make your own decisions based on what your own due diligence provides.

In this case you would still be purchasing several hedges against high inflation in the future. If inflation is low in the medium term then these would likely be poor investments, with the potential exception of bitcoin, although this would not be a sure thing

Silver has done very poorly in the last 2 years.

Central bank will only store gold and not silver, keep this in mind.

So you want to update us on the $50k investment? lol.

or the progress. I`d hedge with real gold or gold mining stocks thats just me.

Yes indeed; better to invest in protection; it is oversold and it is more volatile, anyway.

http://stockcharts.com/h-sc/ui?s=TVIX&p=W&b=5&g=0&id=p26873058609

If you don't need that money or don't plan on using it for some time then go ahead and invest it. Bitcoin price will rise it's just a matter of time, when exactly, I don't know but it will. Simply because more people will use it, more it will be needed. It's logical next step in evolution of internet.

What is difficult to advise. Once you have accumulated the same amount of fiat money then you already know how to invest.

If he only has 50k$ to invest and don't plan on having way more soon he should diversify a little bit : bitcoins, gold, other natural ressources