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

[sarojan9980]

grandmother is not need to saving in old age. they want to spend. not to save. they are not trusted on that cryptocurrency.

[VanDeinsberg12]

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.

Is that really the thing that you're thinking now? lifesaving of grandma worth his last years to live. it can be used for buy living needs, grandma don't need lambo or ferrari but need to feel the peace of living without worrying about financial, and put all those money to bitcoin. plain stupid i would say.

[muenze]

grandmother is not need to saving in old age. they want to spend. not to save. they are not trusted on that cryptocurrency.

rich people have a wealthy mindset. they make their money work for them. doesnt matter the age also some are dead at 50 already while others are teens at 99...

if grandma invested earlier in bitcoin like in january go figure....

[Cult]

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

Hope you told your grandma to sell as son as above $4200, at least 50% of her savings.

[chip211]

You have made the mistake of advising someone to invest in a risky market, BTC really has potential but it is a big risk, you can not know for sure how much it will increase so do not advise anyone to invest in something too big.

[Ariess]

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

I think it is your fault. you should always have risk in anything. get used to you always investigate and investigate every wish to make a purchase or investment. it can address your destruction.
but believe me the bitcoin will soon soar again in time.

[epinay]

So the price has again grown and your grandmother can redeem the money)

[Xester]

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

I just assume that you are just exaggerating things here.  Because even if I know that bitcoin is such a good investment, I will not ask my grandma to put all her savings in investing to bitcoin.  I just wished that by now, you already incurred a profit and that you already withdrew your grandmothers money.  Though bitcoin is for sure will give us everyone an income because its price continuously goes up.

[helars2008]

I pity your grandmother.
Her lifesavings should be used in a way that she could enjoy.  Maybe buy the things she wanted to have or do any other things that could make her happy.
Like pursuing her hobbies..
.
You shouldnt have convinced her to invest in bitcoin.
She wont be needing more money anymore.

[orions.belt19]

If it were to be true that your grandma has placed all her lifesavings in Bitcoin, then I would think that it was not wise for her to place every single cent in one place even though that I think that Bitcoin is good place to invest. Putting all your savings in one place is a bad idea in itself, and its important to always have contingencies and back up plans.

Also, she should be able to enjoy her lifesavings. By putting it in bitcoin, its better not to spend it immediately but as an old person, one should be able to enjoy the fruits of their labor and at that age, they should be able to spend on the things that they want with the savings that they have.

[BADecker]

As of this writing, bouncing around $4200 right now.   

[chickenado]

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.

You have a point there mate! We all know that everything about in bitcoin is unpredictable. We all have ideas on how to advice yet we lack of information to predict things for we don't own the world of bitcoin. With regards to putting all the lifesavings that is above mentioned, it's not a problem if you think it's right then follow people's advice. It's only you who can weigh things out and soon enough you will realize if your decision is perfect for you. Bitcoin investment or for savings is a good idea. If it's not, why would investors keep on entering the world of crytocurrency in bitcoin?Simply because they can trust bitcoin since then.

[Armstand]

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.

You have a point there mate! We all know that everything about in bitcoin is unpredictable. We all have ideas on how to advice yet we lack of information to predict things for we don't own the world of bitcoin. With regards to putting all the lifesavings that is above mentioned, it's not a problem if you think it's right then follow people's advice. It's only you who can weigh things out and soon enough you will realize if your decision is perfect for you. Bitcoin investment or for savings is a good idea. If it's not, why would investors keep on entering the world of crytocurrency in bitcoin?Simply because they can trust bitcoin since then.

If we don't trust it enough , we should not enter on it. It's riaky since it's volatile but know that ,and hope that it will be worth risking for. Never blame anyone when the final decision always still in you. You might be thankful soon.

[coolstory]

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.

You have a point there mate! We all know that everything about in bitcoin is unpredictable. We all have ideas on how to advice yet we lack of information to predict things for we don't own the world of bitcoin. With regards to putting all the lifesavings that is above mentioned, it's not a problem if you think it's right then follow people's advice. It's only you who can weigh things out and soon enough you will realize if your decision is perfect for you. Bitcoin investment or for savings is a good idea. If it's not, why would investors keep on entering the world of crytocurrency in bitcoin?Simply because they can trust bitcoin since then.

If we don't trust it enough , we should not enter on it. It's riaky since it's volatile but know that ,and hope that it will be worth risking for. Never blame anyone when the final decision always still in you. You might be thankful soon.

This is not all about trusting it. This is more than it morally. The person opened the thread is talking about his grandma can you imagine. This is something strange to us but he tried to make his siblings know about bitcoin.

[care2yak]

this quote from lasher posted by cointelegraph is good advice.

[lynn0729]

I think it is really stupid. Bitcoin is just an investment with great risks. How can you predict what will go on next

[Theb]

this quote from lasher posted by cointelegraph is good advice.

It does apply to all kinds of investments not only in Investing the worst part with this situation is that he made his grandpa invest all his life saving in Bitcoin. It is more of like an experimentation rather than a help for your grandfather. I just hope you and your grandpa won't learn investing in a hard way. As for your part having your own research is a good idea as you cannot rely to any personal views about investing to a random people online even the ones they call good sourced these days are hard to be trusted.

[AwpDragonPoor]

First of all, why would you ask your grandma to invest. You should be telling her to go spend that money while she still can and not too late. Second of all, we should be able to see 4200 very soon, by looking at the trends. Not even the chinese scandal can stop it, so it  was a good decision.

[Sweeet]

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

Long-term bitcoin will go up, there are a few things that can stop that from happening although I see bitcoin only going up long term unless a rare incident stops it from doing so. Such as most governments banning Bitcoin funneling availability and legality through bitcoin making it so that the few Governments/Countries legally accepting bitcoin could tax the living shit out of it making it unusable just so they can get there last dime out of it. Another thing that could happen is miner fees become to high due to extreme loads of Bitcoin transactions and confirmation times being extended or even more confirmations needed to actually confirm a transaction. Other than that it could just be the randomness of the market that could collapse Bitcoin. Otherwise I think Bitcoin is in a good, yet bumpy, track.

[Sithara007]

First of all, why would you ask your grandma to invest. You should be telling her to go spend that money while she still can and not too late. Second of all, we should be able to see 4200 very soon, by looking at the trends. Not even the chinese scandal can stop it, so it  was a good decision.

You are absolutely right. There is no need for her to invest her money anymore. She can just put the money in some savings bank account and enjoy the rest of her life using that cash. Anyway, the exchange rates are swinging between $4,100 and $4,200 right now. One major bump, and we will be above the $5,000 per coin mark.