Losing your life savings on BTC? Hurting everyday?

[Remainder]

Some people always believe on bitcoin that can change their life forever and they collect more bitcoin even to lose their savings and that is for a risk taker people, but i think before they taking that risk they might have some alternative sources of income to cover for what maybe happen its maybe from work or a business.

[West0813]

Spending your life on bitcoin is not the wisest thing to do. Even if the value of bitcoin today is lower than before. And many people are predicting bitcoin to reach a new all time high. Its not a reason to put your life savings on it. Bitcoin is so risky.

[GreenEarth22]

Invest in bitcoin it doesn't means that losing life saving for ever and this kind of thought come on peoples mind because of the present situation market. Soon they will bound to change their thought.

[omone1]

If you spent your life savings buy Bitcoin, get out now while you still have something left! New crypto currencies are coming to replace BTC. Stop torment yourself everyday watching your money goes into red day after day after weeks after months.... you will spend your retirement working at McDonald’s trying to earn it back!
[/quote]

You are very funny. No other currency can replace bitcoin. Will people be that bold enough to trust other coins above bitcoin? the plain answer is capital "NO". Nevertheless, people shouldn't place all their savings on bitcoin because of the volatility of the market. I understand trading is addictive and FOMO is strong but moderation should be the watch word.

[MrRiuss]

People buy lottery ticket all the time, that’s total fine, spending $5 here and there for fun. But if you mortgage your house to buy lottery tickets you are crazy.

Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.

If you spent your life savings buy Bitcoin, get out now while you still have something left! New crypto currencies are coming to replace BTC. Stop torment yourself everyday watching your money goes into red day after day after weeks after months.... you will spend your retirement working at McDonald’s trying to earn it back!

yeah, i think it is too risky to spent all your life savings to buy bitcoin. but who did that? only a person who brave to take high risk to do that, not all people want to do it. i think only a few that did it.

[hessanseen]

I find myself constantly watching bitcoin prices every day and spending every day in anxiety and tension. Maybe it's time to do some change. I think I can't invest all my money and energy in the encrypted world. There's a lot of things in life that we need to do.

[oceantiger]

What has been the advice all the time? Is not spend the kind of money you can afford to lose? If you decide to sell of your house to invest in bitcoin it is your decision and you have to deal with it. They are stories of others who sell off their own house and invest in bitcoin and after 1 year they were better off.

[Sama517]

I don't advise anyone to use his life savings on Bitcoin. Using a part of what you have investing in Bitcoin is fine, but don't use up everything. You will be taking too much risk.

[stayeduptolate]

People buy lottery ticket all the time, that’s total fine, spending $5 here and there for fun. But if you mortgage your house to buy lottery tickets you are crazy.

Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.

If you spent your life savings buy Bitcoin, get out now while you still have something left! New crypto currencies are coming to replace BTC. Stop torment yourself everyday watching your money goes into red day after day after weeks after months.... you will spend your retirement working at McDonald’s trying to earn it back!

I don’t think that losing your entire life saving on bitcoin is that worth enough, no doubt bitcoin is a very sustainable and volatile crypto currency and once the person understands its fate and potential will easily get ready to spend its entire life saving on bitcoin because then he will know well that how profitable the bitcoin is but losing the entire life saving on bitcoin for now is no wise because it is still decentralised in many countries, for now it is best to use for part time job only.

[geteks]

People buy lottery ticket all the time, that’s total fine, spending $5 here and there for fun. But if you mortgage your house to buy lottery tickets you are crazy.

Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.

If you spent your life savings buy Bitcoin, get out now while you still have something left! New crypto currencies are coming to replace BTC. Stop torment yourself everyday watching your money goes into red day after day after weeks after months.... you will spend your retirement working at McDonald’s trying to earn it back!

But some of my friends have practiced it correctly, they sell their homes and even their cars to buy bitcoin, and as a result, they get multiple profits.

maybe it's true that investing in bitcoin has a very high risk, but it can be overcome if you have enough knowledge to do it.

[Blanca_Gregory]

There is really no platform or investment whatsoever that's worth throwing all your life savings at. No matter how promising it appears. Nothing is predictable. It doesn't apply to Bitcoin alone. I get all the stuff about risk taking. But there should always be a Plan B. Something to fall back on if things go South. Without that, any risk taking no matter how ambitious is not smart business.