I told my grandma to put all her lifesavings in Bitcoin because you guys said

[muenze]

diversifying investments

The problem I see with diversifying investments is making a much smaller profit then you could be making. And Bitcoin seems pretty much failproof to go up.

[Vaculin]

It sounds funny to me that your grandma is investing in bitcoin. But I think it wasn't very clever to suggest to her to put all her lifesavings into it. Haven't you ever heard that bitcoin is volatile and thus risky? I don't know what your grandma would say when she finds out that she could also lose some money.

You have a point.It would be better if only a part of her lifesavings would be invested in bitcoin so she won't have a big regret if she will lose some of her money.Bitcoin is somehow risky so you should make wise decision first before investing.But if you only do buying maybe it's quite profitable than trading or mining i think.There won't be loss of money for sure.

[filharvey]

   Most of us see that bitcoin price is steadily increasing.Even though,it is still volatile in nature and so there are many price dips.So,we could not say that it is completely out of risk.

   Even newbies get panic on seeing some price dips.I don't know that how your grandma would react on seeing such price falls.You should have explained her fully about the risks in bitcoin investment.But since,we could see that bitcoin is mostly moving in bullish trend,we could hope that your grandma might gain huge profits.

[minorthreat710]

Rule number one in any situation dealing with investments: scared money does not make money! You need to let that sit dude, forget about it for a while. I will be back at 4200 either today or sometime in the next 20 years

[DoublerHunter]

I don't think that you made a good decision because putting all of her life savings in bitcoin because the people just said. You don't need to put all of her life savings in bitcoin because that is a very risky decision and what if she will be sick then where is she going to get money for medicine if she putted all of her savings in bitcoin and she might get a loss in her savings because of the volatility.

[gabbiee]

You should always think twice before doing something too risky you must had gather more information about the price of bitcoin before investing in it. You should have understand what people are saying is not always going to happen the way we want to.

[Kimi80]

To put all your life savings on any investment(not just bitcoin) is wrong by my standards. Any investments could go wrong and we are facing with losing of money. I would advice to everyone to invest in things that they want and think that will make a profit for them but never with full amount, just in case if something goes wrong. In that case you have tried, failed, but you haven lost all of your savings...

[_noname_]

Just be patient and sell part of bitcoins then the price is grow up

[ici_lemmy]

lol. ) you are da best. I cant think anyone follow advice from bitcointalk user to invest like you

[blazingshockwave]

it will only go up. She bought at $4200
How soon can we REALISTICALLY see $4200 again and upwards?

Bitcoin don't just go up, and it also goes down. Tell your grandma to avoid coffee she might sell it too early. But don't you worry, I it will go up soon. maybe on December or next year you will see sunshine again. Don't use your emotion. Use your head.

[mrayazgul]

it will only go up. She bought at $4200
How soon can we REALISTICALLY see $4200 again and upwards?

What the hell you just did with your grandma. Do you know she can lose her money. Now a days market is in negative way and direction . The value of Bitcoins fall down. I Suggest you to start trade with it rather than just waiting for price to rise again. You can earn much quicker with it.

[salihno71]

it will only go up. She bought at $4200
How soon can we REALISTICALLY see $4200 again and upwards?

You have persuaded your grandmother to invest her money into one of the most volatile markets there is. I don't know if i should laugh or cry.

Believing what people here say is plain stupid. Why do you think that you can believe anything that anyone says here? Anyone can create an account and write whatever they want without any consequences. This being said, this does not imply that there are no valid opinions and true statements. You have to understand one thing: everybody here is saying what they think as a personal opinion. It's always like that. You should read the book The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb. It will open your eyes.

As for your options, you have two:
1. sell to minimize loss.
2. hold until price surpasses what you bought for.

My suggestion is - don't sell until price is above what you have bought. No one can tell you when this will happen. There is a slight possibility that this might never happen. So you have to gamble. But you have already gambled when you invested granny's money so, best of luck to you.

And here you go. Problem solved. Bitcoin is above 4200$ again. In this case you were lucky, hopefully you've learned your lesson. Just for the info - what do you plan to do now? Now you have a choice: you can return granny's money to usd and be thankful that everything ended up ok, or you can choose to be greedy and await further increase. What will you do?

[Jaycee99]

Well to the point if this is true and later we dont know your grandmother will leave the earth soon you might use it but still you bought bitcoin? Well if there is a chance 2-4 years later who knows prices might get higher.

[glowing10]

lol. ) you are da best. I cant think anyone follow advice from bitcointalk user to invest like you

Certainly I am surprised firstly no one asks to put all the eggs in one basket. its only a portion that needs to be invested and especially with your grandma it should be kept some money for herself as she may require it. I hope you make some money and handover the money back to her and take it alone.

[alien-fx2]

it will only go up. She bought at $4200
How soon can we REALISTICALLY see $4200 again and upwards?

Besides not being the safest time to buy, you should advise her based on extensive research, not on what other people say. But if she can hold the coins for the long term, let's say... two to three years, I don't think you should worry too much about it.

[paolo099]

my father (80 years old) asked me about bitcoin but i wouldn't take responsibility to others money, especially family.. to earn from bitcoin you have to keep your eyes open and check it on a daily basis but good luck and finger crossed for us and your grandmother

[yoseph]

it will only go up. She bought at $4200
How soon can we REALISTICALLY see $4200 again and upwards?

Now that bitcoin has recovered to the exact value that you bought it, I hope you can calm yourself now and not fret about it assuming you didn't panic and sell way too early . If you don't have the heart for this kind of thing I suggest you cash out but I really recommend that you hold because we are going to $6000 very soon.

[hridoyb]

My grandma just said her banker will give her a loan on the house today,, she will get 150 BTC for the $500k , hopefully it will rise again soon ?

These china fake news will vanish soon I am sure and Bitcoin is back at $5k in no time.  

yes .Just hold your bitcoin for few month or 1-2 year if you donot need emergency money.I am sure you get lots of money that you dont think.Bitcoin rise again and china canot vanish bitcoin.Bitcoin already risen 4194.94 US Dollar.

[eternalgloom]

my father (80 years old) asked me about bitcoin but i wouldn't take responsibility to others money, especially family.. to earn from bitcoin you have to keep your eyes open and check it on a daily basis but good luck and finger crossed for us and your grandmother

I'm the same, many people have asked me to buy Bitcoin for them, but I always say that if they don't know how to buy it themselves, they shouldn't buy it.

I can give them advice on how to use Bitcoin, but I don't make claims on the future value or something like that.
I want no responsibility when someone loses his money.

[GankTem]

I think bitcoin is more like a gambling game. Like if youre lucky enough you have more money from bitcoin. If not you will lose all of your money. But it's not the right thing to use your grandma's money to buy bitcoin.