Anyone else HAVE most or maybe ALL of their money in btc/crypto?

[squatz1]

Nah, I woulodn't put that much faith into all the business relating to cryptos, I understand that some people do swear by it and say that the banks are out to get you or something but I just don't get how people could put faith in this when they know the bubble for these cryptos and Bitcoin is going to pop at some point. When is the question that we don't know the answer too.

I would advise not doing this bud, you wouldn't want to lose everything you have, banks may not make you money but you're not going to lose all of your hard earned money in a bank so -- yeah.

Good luck though, wish ya the best.

[Yakamoto]

I'm nowhere near close to have most or all of my money in cryptos of any kind. I have some wealth in them but it is far from being anywhere close to a significant chunk of my net worth. There is no reason to be that involved with cryptos, and there is way too much volatility to have a large amount of your money in anything like Bitcoin and not being playing the market 24/7.

Then again though, I have a lot relatively speaking, so maybe I'm overestimating what others have invested in their own right.

[thecil]

i have like 80% of my money on cryptos, mostly because the crisis in my country (venezuela), i have a work into the informatic world in an small company, so i use my montly sallary for normal debs, since i know crypto world, i have been trading and earning even more from trading than my work, off course small profits but from where i am, thanks to inflation, thats a lot of money, i earn 40$ in my work and i earn like 50$ montly trading,  i think it work for me, having a job and trading has a "proffesional" hobby to have a decent income of money.

my opinion is: cryptos are the new way to introduce normal people to the exchange world.

[gentlemand]

More and more people will end up with insanely lopsided amounts of their wealth in crypto by doing nothing and waiting. The question is in that scenario could you bring yourself to diversify? What else is out there?

[Silberman]

More and more people will end up with insanely lopsided amounts of their wealth in crypto by doing nothing and waiting. The question is in that scenario could you bring yourself to diversify? What else is out there?

No much, government bonds are nothing but useless IOU, the stock market is nothing but a casino where only the big fish makes money, gold and silver are stagnant, cash and anything similar loses value every second, real estate may be an option but you need big capital, so there are not many options.

[Harry Callahan]

@CoinCidental are you implying that you have invested all your money in crypto currency if so i would like to know what all coins you have invested in and how amount of coins do you have ,investing everything you have needs some bold and gutsy decision making and only by taking risk you could gain anything.Since i am not a risk taker i am playing it safe and i have my investments here and there in good long term investment.

[Celsiuss]

Nope, and I don't think I'll ever do. The reason being it feels insecure. I actually want my money (most of it) stored in my bank, I like the services my bank offers and the security around it. Also I don't wanna risk Bitcoin prices going down, which means all my fortune is suddenly worth 20% less. When I have 1000$ in my bank, I know for sure it is 1000$ and not 800-1200$.

[serjent05]

I have 30% of my money invested to cryptocurrency.  I can see that there is a lot to profit in venturing in this industry but I am still a bit cautious to not put all my eggs in one basket so I only invested part of my money to crypto and others to investment outside cryptocurrency.  At least if one fails, the other can redeem it.

[Mbokani]

It is not a wise decision to store all your asset into one investment as you always need a back up plan if and when those investments gets back fired.Let me tell you a story ,hope you remember the financial meltdown ten years back,people have invested a lot of hard earned money in stock and when the stock market got hit by the recession majority of the people lost their shares and just think what if they invested everything into it,they should have filed for bankruptcy.So always diversify your investments for a better and safe growth.

[btcbug]

Or is it just me lol?

Can't complain thesedays, fat stacks just getting fatter  

I'm with ya. 95% of my portfolio is in Cryptos. 

[dissident]

Thanks to my stake in NEM which is completely unsold, about 33% of my net worth is in cryptos.  That could rise to 60% or fall down to 20%.. I'm betting on a rise because of the technology the coin possesses. Some would say I'm insane to not sell it now, then again my co-worker said I was insane last spring when it made it's first rise to about $30K in value. Meh.. to me it's almost like it's not real since I never invested a cent of my own money into it.. I got a stake for free.

They're like little penny stocks.. stock have no inherit value except the value they are given... technically you can say that about fiat, gold, or anything, really. Supply and demand.. value is in the eyes of the beholder. Wealth is really an illusion.

I do know that cryptos trade on a global market, and 35 billion dollars is a drop in the bucket on a global scale... that's about the market cap of Nintendo, NTDOY stock right now.. one company among hundreds which have far higher market caps... 35 billion is nothing.  There is tens of trillions in debt out there, hundreds of trillions in assets, and that's not even counting other countries and other currencies. However, until the large scale ability to exchange cryptos for fiat exists without massive delays, the market for cryptos will be somewhat limited. We need more exchanges that do fiat, and they need to get their act together and hire some people to handle their load so stuff gets done within a couple days, not a couple weeks.

Like it or not, if you want cryptos to take off, you have to play with the big boys. They are the gatekeepers. Right now exchanges feel a bit like rolling the dice keeping coin in them right now, and it shouldn't feel that way. Another MtGox type scenario is what we want to avoid, for the good of this technology.

[eddie13]

1. No one ever gets rich by "diversifying".. Warren Buffet doesn't "diversify"..

2. Fiat cash sucks and is one of the worst things you could possibly hold because it is guaranteed to lose value by its very design..

3. I have a LOT more BTC than cash but I have very little cash.. But, of all things I own my BTC is probably like 7%..


I'm out of town for work and have barely enough $ to live on. I brought my BTC for emergency purposes only.. I will go hungry and out of smokes before I spend my BTC.. I will only spend my BTC if it's the only way to get me home..

[squatz1]

I have 30% of my money invested to cryptocurrency.  I can see that there is a lot to profit in venturing in this industry but I am still a bit cautious to not put all my eggs in one basket so I only invested part of my money to crypto and others to investment outside cryptocurrency.  At least if one fails, the other can redeem it.

Even thirty percent seems like too much dude, I hope and pray that the amount of money that is in crypto is in less volatile coins such as Bitcoin, as the others are disgustingly more volatile and could show that 30 percent of your money can vanish in one day if the crypto bubble blew or something along those lines occur.

Also, if I may ask the people that have a large portion of their money in cryptos do you store the coins in a wallet or on some sort of exchange for long term holding? Also, long term or day traders when it comes to the cryptocurrency that you own.

Risky but it could pan out well if ya get lucky.

[ztalker]

Having only bitcoins and some altcoins, closed most of my bank accounts 2 years ago, CC too - just keep on account for recieving payments from my clients.
Im converting back to fiat mostly amount i need for 2-3 days, or if i need to take flight will use prepaid from bitwala.io
Trying to pay us much possible with bitcoins.

So sometimes im hedging i little - going to alts lately mostly, not shorting BTC anymore. Within this two years i see how much my mindset is changed, im buing stuff i really need and living very simple, mostly traveling around the world.

Life is for living!

[DoublerHunter]

Having only bitcoins and some altcoins, closed most of my bank accounts 2 years ago, CC too - just keep on account for recieving payments from my clients.
Im converting back to fiat mostly amount i need for 2-3 days, or if i need to take flight will use prepaid from bitwala.io
Trying to pay us much possible with bitcoins.

So sometimes im hedging i little - going to alts lately mostly, not shorting BTC anymore. Within this two years i see how much my mindset is changed, im buing stuff i really need and living very simple, mostly traveling around the world.

Life is for living!

That is great for you if you living your life with bitcoin mostly because not all of us can do that and try to live and pay things using bitcoin because i think it is too early for that but good start and the best thing you did is you closed your CC so you don't need to worry about getting in debt. I also agree that you get some altcoins because they are the next bitcoin so it is best to invest in some.

[Palodar]

Having only bitcoins and some altcoins, closed most of my bank accounts 2 years ago, CC too - just keep on account for recieving payments from my clients.
Im converting back to fiat mostly amount i need for 2-3 days, or if i need to take flight will use prepaid from bitwala.io
Trying to pay us much possible with bitcoins.

So sometimes im hedging i little - going to alts lately mostly, not shorting BTC anymore. Within this two years i see how much my mindset is changed, im buing stuff i really need and living very simple, mostly traveling around the world.

Life is for living!

That is great for you if you living your life with bitcoin mostly because not all of us can do that and try to live and pay things using bitcoin because i think it is too early for that but good start and the best thing you did is you closed your CC so you don't need to worry about getting in debt. I also agree that you get some altcoins because they are the next bitcoin so it is best to invest in some.

I'm not living with bitcoin only but the majority of my money is on cryto's. I just use my salary for my daily necessities and convert all my saving to BTC a few years ago. I'm very for the result of my risk investment here. I almost triple my savings.

[Betwrong]

Or is it just me lol?

Can't complain thesedays, fat stacks just getting fatter  

I'm glad for you, apparently you were right keeping all you have in BTC. Unfortunately I can't say same about myself. Not because I'm keeping my saving in gold, in USD or in any other currency, but rather because I have no savings. I'm not poor, I have enough to live a good life, but that's it. )

[BossMacko]

Not me, I only bought Bitcoin twice and after that i was able to make a lot of Bitcoin from it. I was able to profit from the Bitcoin that i bought and now all the Bitcoin that i have are just my winning even if i loss them all i will never exchange all or most of my money for Bitcoin, it is better to be safe than sorry later because the more Bitcoin i have the more urge i get wanting to gamble.

[LTU_btc]

No, I have only ~20% of my money in btc. I'm still prefer to keep biggest part of my savings in fiat. Not because that I don't believe in bitcoin future or something else. Fiat is just more convenient. I just need to go to ATM and withdraw my cash if I need. If I would keep my money in bitcoin - I would need to deposit it to exchange, then withdraw fiat. It requires more time and also it costs some fees.
I don't have plans to keep al my money in bitcoins, but probably I will increase part of my money which I keep in bitcoins to bigger percentage.

[Schuyler]

Normally, I have around 10-15% of my portfolio allocated on bitcoin, since I don’t have any altcoins at the moment. That is relatively small compared to some of what I am reading here because I always try to play it on the safe side. I don’t want to expose myself to too much risk and that percentage is just about where I am comfortable at right now. Things might change though as more and more things are going in favor of bitcoin with a lot of investors looking at it as another option.