Should i allocate 100% of my savings to bitcoin ?

[Grant]

A while ago i did a publicly feeded trade, sold bitcoins as a result of this poll https://bitcointalk.org/index.php?topic=121174.msg1305375#msg1305375

If i had done no trades i would been better off lol. I ended up liquidating about 50% of my holdings. But it was still quite entertaning to just trust the decentralized forum consensus.

This time around regarless of shortterm overbought technicals im really tempted to move all my savings to bitcoin, mainly because of this: http://bitcoinmagazine.com/bitcoin-price-breaks-15-4-august-2012-high/

Should i, or should i not ? please post whatever you find most convincing.
Once again i'll submit to whatever the poll tells me to. ie: If 75% say yes it means i'll allocate 75% of my avail resources to bitcoin.

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[lucif]

If you ask such questions and don't have balls to take this responsibility, better stay away from trading at all.

[adamstgBit]

i voted yes  ! I would never, I have two kids so i can't handle that much risk but ... if you have the balls it potentially VERY rewarding, but super risky ( especially now that bitcoin is pushing to a new all time high)

I recommend putting 50% in right away and keeping 50% on the side, if bitcoin drops alot, you can pick up cheap coins and lower your avg price.

make damn sure your wallet is secure ...

[zby]

I've heard Falkvinge won big on such a move.

[Bitcopia]

Do you like to gamble with your savings? It is historically true that the value of bitcoin, and almost everything else, retraces as it finds new value. A better strategy, in my opinion, would be to buy in small chunks over time. That way, in the unlikely event that price rises continuously, you are still profiting. However, in the more likely event that price drops before rising again, you won't lose so much because you will have better entry points. It is a more balanced approach. Balance is smart when you're talking about your savings.

[Hexadecibel]

I did exactly this at $5. I do not regret it.

[Spaceman_Spiff]

If your total savings amount is something you could regain pretty easily and you don't need it, sure, you could bet with everything.
Otherwise, I personally wouldn't do it.  The risk for it to become worthless is too big imho.  Of course, its a decision everyone has to make for him/herself.

EDIT: I think my answer sounded too positive, I generally wouldn't recommend anyone to go all-in on bitcoins.

[cbeast]

I do, but I think long term even if it's for my kids. I've been waiting 30 years for an opportunity like Bitcoin. What makes it different than all the other fads and scams, is that it is so much more than a technology. Technology can be monopolized and regulated, but an open sourced math algorithm is just too ridiculously intangible for anyone to control. Bitcoin is the slipperiest pig anyone would ever try to catch. It will be like watching the Keystone Cops trying to regulate Bitcoin. I'm all in just for the laughs if nothing else.

[dust]

Should I allocate all my savings to <anything>?

No

[waspoza]

Don't put all eggs in one basket, it's not very smart.

[elux]

Should I allocate all my savings to <anything>?

No

Hear hear.

[lebing]

If you are young enough to recover if it goes up in smoke tomorrow, then by all means, go for it. I have 85% of my holdings in btc, bought in stagggered increments between 5-11 and I'm pretty happy I did.

That being said, we are at an acceleration point right now in the curve and this is when all of the emotional money is coming in. After we hit 20+, I'm guessing we will correct to somewhere around this neighborhood. So either do it quick like or wait for the correction.

[Raize]

No, never invest what you cannot lose.

[oakpacific]

Never put all your eggs in one basket.

[dieselmeister]

I know the phrase: "Only invest money that you can burn imediantly without any regrets."

I mean, if you lose a big part or everything, i doesn't have to intimidate your lifestyle or family. BitCoin has a risk to lose a big part of your money. It's a high-risk investment. The fact that someone does the right decision in the past and buy bitcoins at 5$ or 10$ is not indicator for doing any success in this investment. Tomorrow the worth can be down 20%, tomorrow the worth can be up 20%. Bitcoin is a high volantile.

The right way is to spread your investment. Put something in bitcoin, put something in stock, put something in real estate and put something in gold or platinum or something.

But it's also the fact, that sometimes i doesn't hear on my own advise and i'm playing risky, but not with all my money...

greetz
DM

[cbeast]

Never put all your eggs in one basket.

The wise man puts all his eggs in one basket and watches the basket. -Andrew Carnegie

Anyone who cannot cope with mathematics is not fully human. At best he is a tolerable subhuman who has learned to wear shoes, bathe and not make messes in the house.
--Lazarus Long, "Time Enough for Love", (Robert A. Heinlein)

[arepo]

Do you like to gamble with your savings? It is historically true that the value of bitcoin, and almost everything else, retraces as it finds new value. A better strategy, in my opinion, would be to buy in small chunks over time. That way, in the unlikely event that price rises continuously, you are still profiting. However, in the more likely event that price drops before rising again, you won't lose so much because you will have better entry points. It is a more balanced approach. Balance is smart when you're talking about your savings.

i'm skeptical about 'price-averaging'. given a stochastic market, aren't the chances that you end up with an average price higher than whatever initial buy-in price equal to the chances that you can achieve a lower average price?

i understand that large buys are prone to slippage, and that is one advantage of multiple smaller bids, but does the technique really average dollar cost?

[smoothie]

OP,

Yes! And go be homeless for now!

[Walter Rothbard]

Yes, it's okay with me if you do that.  I don't really have time to watch over you and see if you're making a good decision or not, but I don't mind if you do it.

[CurbsideProphet]

Once again i'll submit to whatever the poll tells me to. ie: If 75% say yes it means i'll allocate 75% of my avail resources to bitcoin.

So you're letting total strangers decide what you're going to do with your savings?  Unbelievable.