I never spent any savings on Bitcoin and I'm not broke

[anonEmouse]

If I had invested my savings in Bitcoin would it be more likely to be broke?

Bit of an open ended question, depends on when you bought them! If you bought them 4 years ago no, if you bought them november / december 2013, you might be feeling a bit sick.

[Butterfly2speed]

you should keep your saving till halving comes

[salmanahmedone]

If I had invested my savings in Bitcoin would it be more likely to be broke?

If you save you bitcoins for future, so it's not mean you will be broke. can you explane how it is possible?
you know we always save only that things for future which is special for us. if you save your bitcoins it's mean you have invest it. only need awareness about bitcoin's price.

[vinklyking]

If I had invested my savings in Bitcoin would it be more likely to be broke?

If you save you bitcoins for future, so it's not mean you will be broke. can you explane how it is possible?
you know we always save only that things for future which is special for us. if you save your bitcoins it's mean you have invest it. only need awareness about bitcoin's price.

Yes save the bitcoins earnings and you are the lucky person.

[lister storm]

you wouldnt be broke for sure if you invested some dollars into bitcoin, its just like  an investment it cannot make you broke as long as the price rises and the price of the bitcoin rises a lot

if i were in your shoes i would definitely invest some good money into bitcoin because i do it now and im hoping that the future price increases will surely allow you to make some decent money

[yenxz]

If I had invested my savings in Bitcoin would it be more likely to be broke?

No,you will not brooke if you invest your safing on bitcoin,you just put a big risk on your oney,we know bitcoin is high risk currency,and you have to prepare if bitcoin price down so deep. but i think it will not happen,at least until bitcoin halving come.

[Cuidler]

Whenever you hold wealth (bank, stocks, real estate, Bitcoin, gold) is risky and you might loose part or all of your wealth. The only possibility to avoid risk is to spend all, but some people like to keep reserve wealth in case they need it later. So no, Bitcoin is not much different from other investing options

[jak1]

If I had invested my savings in Bitcoin would it be more likely to be broke?

Bit of an open ended question, depends on when you bought them! If you bought them 4 years ago no, if you bought them november / december 2013, you might be feeling a bit sick.

I agree; investing in bitcoin at an early stage then awaiting for a rise in its value is something we are all awaiting. Some people are afraid to invest in bitcoin but it requires patience; eventually we might actually 1 Bitcoin being $600. When that eventually happens, you would be pleased to know that you invested in it and your patience was definetly worth it.

[Herbert2020]

although this topic is mostly trollish but going all in with all your savings is not a good idea because you are risking everything but also staying away is not wise either, there is a good chance of making a good profit.

[pereira4]

I'm sure plenty have gone broke with Bitcoin. You could've bought at $1200 and sold at $200. If you'd dabbled in trading as well there's no shortage of capacity for setting your money on fire. As for gambling...

Only the people that wanted short term benefits would do that. If I had the misfortune to buy at 1200$, I would have held as long as it takes, because deep down I know we will go higher than 1200$ eventually, but most people that got in Bitcoin during the high rise where clueless about Bitcoin and have no notions about it and how it has a big importance long term, so they would end up panicking and selling at a big loss.

[Elwar]

I just keep my fiat in Cyprus banks. They will be forever safe there.

[maokoto]

I'll say it is more likely to be broke in the end, and also more likely to be much richer in the end, at least as compared to most people. If keeping fiat made you broke, that will make a lot of people broke. You'll be broke but not much more than most people. Also with fiat, you'll hardly get richer.

With BTC, if you got broke, many others will not. But if you get rich you'll be ahead many too.

[jossiel]

I just keep my fiat in Cyprus banks. They will be forever safe there.

I agree with you, me either once I got my bitcoins from my earnings, I'm exchanging it to fiat already.
And ready to transfer it to my bank for safety of my money.

[whored]

If I had invested my savings in Bitcoin would it be more likely to be broke?

Do you keep your savings in a currency that loses value over time?

Hell no! I, like most normal people, invest my money. Or spend it. Didn't they teach you stuff like this in school?

[jossiel]

If I had invested my savings in Bitcoin would it be more likely to be broke?

Do you keep your savings in a currency that loses value over time?

Hell no! I, like most normal people, invest my money. Or spend it. Didn't they teach you stuff like this in school?

Maybe he is referring to invest all his savings and convert it to bitcoins. But no, that will make you broke if you are going invest it all.
But it will not make you broke if you are going to spend your bitcoins to the things that you most like.

[clarkgeneral86]

Actually if people weren’t saving bitcoins, they wouldn’t pay with Bitcoin and Neweggs wouldn’t accept them. Saving and spending are both essential, but it is true that people shouldn’t put all their money into Bitcoin.

[Cuidler]

I just keep my fiat in Cyprus banks. They will be forever safe there.

I agree with you, me either once I got my bitcoins from my earnings, I'm exchanging it to fiat already.
And ready to transfer it to my bank for safety of my money.

LOL, confiscation, deposit tax or a bail in is what they call it when a government takes depositors money to plug a banks financial holes, just as was done in Cyprus few years ago...

I guess Elwar forgot /s tag, good to catch banking trools though.

[jossiel]

Actually if people weren’t saving bitcoins, they wouldn’t pay with Bitcoin and Neweggs wouldn’t accept them. Saving and spending are both essential, but it is true that people shouldn’t put all their money into Bitcoin.

Yes, I agree with that on the thing that people are putting their whole money and savings into bitcoin.
Not knowing that if they will put their all money they will earn but that's not enough.
They must know also that the risk to put their money into btc is also risky.

[Ultrafinery]

I just keep my fiat in Cyprus banks. They will be forever safe there.

I agree with you, me either once I got my bitcoins from my earnings, I'm exchanging it to fiat already.
And ready to transfer it to my bank for safety of my money.

LOL, confiscation, deposit tax or a bail in is what they call it when a government takes depositors money to plug a banks financial holes, just as was done in Cyprus recently...

I guess Elwar forgot /s tag, good to catch banking trools though.

Not sure why Cyprus banks are any more relevant than Gatecoin getting haxx0rd or BBQ coin becoming worthless.
Sure, Cyprus banks are fiat-related, just like the examples I gave are crypto-related. At least Cyprus banks didn't run away with all your coins, like the totally awesome Bitcoin Bank in Cyprus did

[Barbut]

I think OP is contradicting is his statement. A little bit imaginary and this question sign in end confuse me to most. So he asking us would he lose money, but only if he invested something? Hmm well my son go back and check. How many times I saw here : catch a train or regret later. I think like I see a bit regret in your words, you just acting like you are not sure now. So you ask for confirmation from others.

I think its not late to invest now, just be smart. Don`t let your greedy overcome you your mind. Probably you will lose everything you have in that case.