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Author Topic: $20,000 in the bank, should I invest?  (Read 2427 times)
matt608
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March 19, 2013, 11:17:33 AM
 #21

I'd wait a week or so as I expect there to be another 'fall back' into the $40s from this new all time high. 


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March 19, 2013, 11:19:05 AM
 #22

I wouldn't invest that much, I'd put in $1000 or something, I think you'd be much better off getting some kind of business running with that money while the dollar has purchasing power and then selling your services for Bitcoins instead, that way you're getting Bitcoins a lot cheaper and your money won't have been wasted or lose value due to any price drop.
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March 19, 2013, 11:25:28 AM
 #23

I think Bitcoin will be the best performing speculative high risk asset on the planet for the next 1w 1m 6m 1y 2y 4y 10y 20y periods. But, hey, I am a Bitcoin permabull, this is opinion that is to be expected from me.

You gotta decide for yourself how you will be investing your capital.

Protip: usually the best strategy of getting onto a trending bullish market is "buy on pullbacks"

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MonkeyBear68
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March 20, 2013, 12:19:03 AM
 #24

I would start putting say $100 a week in. This will give you some BTC. Learn about security and how to transfer BTC etc. This also will provide dollar cost averaging for your investment.

I highly recommend the free Bitcoin video series on CBT Nuggets. The URL is:

http://bitcoin.cbtnuggets.com/

I have been into Bitcoins for 18 months now and I just recently discovered that website from another topic on this forum. I am halfway through the 15 videos and they provide a great deal of information what Bitcoin is as well as encryption, multifactor authentication, securing your wallet, acquiring BTC, etc.

I learned quite a bit on my own over the past 18 months, and the videos on that website covered it all, as well as a lot of new stuff. I cannot stress enough how much I recommend it for newbies.  Smiley
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March 20, 2013, 12:31:12 AM
 #25

I have over $20,000 just sitting in an account.  Would it be a good idea to invest some or all of it in bitcoin?  I'm looking for any way I can to stick it to the central banking system, and If I can make a few bucks by doing it, all the better.



I'd invest a little BTC over a period of time like every week or month, thus insulating you against swings in price.

Also I'd get a small amount like 5-10BTC to play around with carefully in a separate account to try out a few of the different options and learn. I would keep the main investment in separate accounts taking extra safety measures. Also I'd get a few Krugerrands to be safe.
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