Should I convert my savings into Bitcoin?

[Spektrobas]

I am thinking in investing my savings into Bitcoin and try to get some profit when the price of BTC goes up, but is it actually profitable?

[ekoice]

Yes, its definitely profitable. Bitcoin price has once again started to raise and it is soon expected to cross $700. Investing in Bitcoin is secure as it works in block chain system.Its much profitable when compared to investment in gold

[InvoKing]

I am thinking in investing my savings into Bitcoin and try to get some profit when the price of BTC goes up, but is it actually profitable?

It is profitable in the long term in my opinion but i wouldn't recommend to convert all your saving to bitcoin at once.
better to split it and convert a part then increase the amount respectively with the earning that you will make

[LTU_btc]

It depends how many you have saving. If you have big amount of money, it would be better to invest only part of money into BTC. If you have not very big money, you can invest all. Bitcoin price now is rising and increased ~$90 in last month. I think bitcoin price have potential to rise

[sillug]

Yes you should. But you should also don't touch it for a few years to see the real profit, so don't use your core money.

[bitbunnny]

Having savings in Bitcoins could be very profitable in long term period. So you buy Bitcoins and forget about them. But since it's not good to put all your eggs into one basket I would also suggest not to transfer all your fiat savings to Bitcoin. Leave something just in case. And for those you don't transfer to Bitcoin investment in sharers could be asholution.

[delliaerd]

I am thinking in investing my savings into Bitcoin and try to get some profit when the price of BTC goes up, but is it actually profitable?

If you not believe enough and ready to take all of risk, better you don't do it yet. Because if you new in bitcoin and still not knowing about bitcoin yet you potentially lose out your money.
But if you ask it is profitable or not, obviously investing your savings into bitcoin is very profitable when you have done correct way. Many peoples was proof it and they get a profit from fluctuations of bitcoin.

[European Central Bank]

this is a very stupid place to ask this question. you're not exactly gonna get a subjective answer.

how much do you know about bitcoin itself? do you know the potential risks? would you be prepared to sit at a loss for years on end or have it all turn to dust if something breaks?

how do you plan to secure your coins? are you gonna buy it from legit sources? do you know what a legit source is?

[Milkduds]

These types of questions always tend to make me think the person is farming a account or really in need of a way to rely more on their own brain.
Asking strangers is a good way to get the hook in the mouth and bled out for all you are worth by a snake oil salesman.

So do ones own due diligence and come back to the table with what you know and see if it stands up under cross examination.
No one holds any ones hand for free! There will always be a cost for what you perceive to be free knowledge.

Besides lumping all ones eggs in one basket is a good way to be looking for the tallest building in the neighborhood to jump out of.

[Chronobank]

I am thinking in investing my savings into Bitcoin and try to get some profit when the price of BTC goes up, but is it actually profitable?

If you ask me about this, I will do it like this - I would use about 50% of my savings to buy Bitcoins. After that, if I would be interested to speculate to get profit/loss, I would use about 10% of my Bitcoins into altcoin market.

[MaddestScientist]

Rule of Thumb: Do NOT invest more than you can afford to lose.

 

I am thinking in investing my savings into Bitcoin and try to get some profit when the price of BTC goes up, but is it actually profitable?

[Meuh6879]

but is it actually profitable?

[Mark02]

I am thinking in investing my savings into Bitcoin and try to get some profit when the price of BTC goes up, but is it actually profitable?

No, you're thinking the inverse from reality. Why? Because if you buy bitcoin now when price is high. There is high risk of loosing money since is price may or may not continually go up and soon it will dump. So, if you are planning to invest your savings, make sure to buy when the price of bitcoin is low so that, when it pumps. You can earn money from it. Plus, just invest what you can afford to loose. Investing involves risk of loosing money so before you invest your hard earned savings. Make sure to have a research first to minimize this risk.

[CyberKuro]

Yes, its definitely profitable. Bitcoin price has once again started to raise and it is soon expected to cross $700. Investing in Bitcoin is secure as it works in block chain system.Its much profitable when compared to investment in gold

Yeah, investing in bitcoin now and expecting for $700 in this year or in 2017 probably right.
Recently day bitcoin price around 680-685 and if you planned to convert your savings and then it will worth about $15 each if it reach $700, not bad at all.

[shinratensei_]

I am thinking in investing my savings into Bitcoin and try to get some profit when the price of BTC goes up, but is it actually profitable?

Yes, if you are wanna for being patiently for that because you will not be able for reaching the profit at the time are referring at you're investing all of your savings in btc bu totally i can say if that is really promising for us for keep our savings in btc bu I'm not naive just suggesting you for reading about the disadvantages for using btc.

[Meuh6879]

i have 0,8% ... in FIAT money.

[Meuh6879]

but no assurance that it will go on forever.

300 USD for Gold in 2000,
1400 USD for Gold in 2016,

and ... i can not buy thing with this "relic" on Amazon.



and now, we have Bitcoin (it's a network).





a real network ...

[rizkyhiw]

I am thinking in investing my savings into Bitcoin and try to get some profit when the price of BTC goes up, but is it actually profitable?

But what do you get when the price goes down?

people should learn more about how to taking a risk before make any investment
they only lured on profit profit and profit never thinking about the worst scenario
in the end they will regret everything yeah
you should have a plan B to cover up your loss in case this worst scenario did happened.

[BlockEye]

I am thinking in investing my savings into Bitcoin and try to get some profit when the price of BTC goes up, but is it actually profitable?

But what do you get when the price goes down?

people should learn more about how to taking a risk before make any investment
they only lured on profit profit and profit never thinking about the worst scenario
in the end they will regret everything yeah
you should have a plan B to cover up your loss in case this worst scenario did happened.

Profit is the main factor why people invest at the first place, It is usual for people to just aim on profit on investing, Being optimistic is good key to become successful on investing.
But the worst case scenario is always have a possible to occur, Just be ready and backup with some funds to cover loses. The golden rule on investing is don't all in.

[MingLee]

I am thinking in investing my savings into Bitcoin and try to get some profit when the price of BTC goes up, but is it actually profitable?

But what do you get when the price goes down?

people should learn more about how to taking a risk before make any investment
they only lured on profit profit and profit never thinking about the worst scenario
in the end they will regret everything yeah
you should have a plan B to cover up your loss in case this worst scenario did happened.

Profit is the main factor why people invest at the first place, It is usual for people to just aim on profit on investing, Being optimistic is good key to become successful on investing.
But the worst case scenario is always have a possible to occur, Just be ready and backup with some funds to cover loses. The golden rule on investing is don't all in.

Two be fair to a lot of investors, they want to make money but there are also a lot of people who just want to keep their value of their work and invest to combat inflation and the devaluation from their work. Not everyone is interested in making money, and more are invested in mitigating losses.