Blackdeath
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Merit: 261
★Bitvest.io★ Play Plinko or Invest!
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October 24, 2017, 10:54:28 PM |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Yes of course. Putting all your money into bitcoin and turning into a virtual money it literally risky because we do not evenly sure of how stable bitcoin is to stand and hold our money for a long time span so it is still good if we will have a stock of money in the real world in which will serve as a back up source whenever our money experience a great loss in bitcoin because it is still unpredictable on when the price will fall or rise. |
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"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
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chromosomes
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October 24, 2017, 10:55:48 PM |
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Yes, it is risky if you will turn your money into bitcoins, because bitcoin is volatile and you won't know when it will rise or fall. But if you trust bitcoin enough, then go turn it. And if you have nothing to do with your bitcoin then it is better to invest it so that it can grow bigger. But remember it is risky to turn ALL your money to bitcoins.
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jerrison
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October 24, 2017, 11:07:01 PM |
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Considering the up and down chart of the bitcoin against the dollar signature. You cannot and are not advised to make such decisions or take such actions as the risk is way too high.
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btcjocan
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October 24, 2017, 11:12:00 PM |
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Of course. It is very risky. We all know that bitcoin's price is keep on rising nowadays, but we also need to think in advance that not all the time its value will keep on increasing and if you will turn all your money into bitcoins, then you need to be ready of the possible happenings that you might encounter or experience in the future. It's better to be safe. So, you must not turn it all into bitcoins so you will not regret it in the future.
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Lomberjack
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October 24, 2017, 11:17:29 PM |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Yes. It is really risky of turning all your money into bitcoin and putting your real money into virtual storage because we are less assured that our money is safe there away from hackers and scammers. Also with that we are not assured that the modern technology will be stable since bitcoin was generated and operated through modern devices that whenever it malfunction the money you have turned into virtual will be put out into nothing. So it is still best if you will have a real money and virtual money at the same time. |
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Faith Joy
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October 24, 2017, 11:18:15 PM |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
No it would not be risky for your if you would to turn all your money into bitcoin because i believe that it would really help you a lot if you would invest your money in bitcoin. Because the value of the bitcoin becomes higher from time to time and from that you can gain so much money from bitcoin. It would be a big help to you. |
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zelga93
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October 24, 2017, 11:19:38 PM |
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Yap, it's very risky how if bitcoin price is decrease until 200% when you buy it. Never use all in bro, it' very risky. Although you very sure bitcoin price is gonna to the moon
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commandments
Newbie
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Activity: 9
Merit: 0
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October 24, 2017, 11:22:06 PM |
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Basically, investment / speculation is done with surplus funds, but again I think that one can reverse it and invest in things that I can believe.
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DPrillio
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October 24, 2017, 11:29:35 PM |
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It is not just risky but foolishness to turn all your money into any volatile trade or commodity, including bitcoin. As a thumb rule you must define a minimum monthly savings, after you have deducted of all your fixed expenses and commitments. After this you could start investing a small part of your excess savings. In this way you can sustain if the prices go low and also hold long for better returns.
Maybe it is not advisable to turn all your money into bitcoins because not all establishment is accepting bitcoin as payment and in times of emergency like hospitalization and etc. and you have no cash or normal payment for them then it takes time again to convert it back into your real money. |
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Baperom
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Activity: 91
Merit: 10
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October 24, 2017, 11:30:04 PM |
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Yes Dude too risk, if u put all of 'em to 1 bucket, if you want shock therapy(value decrease, for a while i think)..but did you know "high risk high profit"
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ishinn99
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Activity: 420
Merit: 11
BitHostCoin.io
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October 24, 2017, 11:31:57 PM |
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For me its risky because we cannot tell what will happen about bitcoin in the near future. But investing in it will give you profit if value of bitcoin will continue to increase. Just invest what you can afford to lose.
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Fireblade
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October 24, 2017, 11:56:18 PM |
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All invest have their own risk, so always be wise investing, I'm not saying that Bitcoin ain't good to invest money on but as investors says invest what you can afford to lose, so if you can afford to lose all your money then go, the stakes are high but if you're luck then the return would be magnitude.
I think yes it will be risky if you will put all your asset in one business,. i think it is too much important for you to distribute your investment in different kind of business for security reason and for getting smooth income purposes. |
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dynospytan
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October 25, 2017, 12:08:03 AM |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
I think it's highly risky because bitcoin is volatile. But, if you want to be profited you should turn all your money to bitcoin when the bitcoin price is low. Then if bitcoin price rise again exchange it again to a real money. By doing that I think it will lessen the risk of losing all you money. |
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rainbow169
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October 25, 2017, 12:36:15 AM |
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Don't risk all your money in just a single investment as always, figure out how much you can loose and invest regularly over time. Otherwise you might just catch a recent peak. Also you need to set your target, are you a long term investor or day trader.
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G2z_Riya
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Activity: 217
Merit: 14
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October 25, 2017, 12:41:26 AM |
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Turning all the earning into bitcoin is risky, but what it provides as an profiting is very big. Importantly till date none had lowered their own living standard just because of investing into bitcoin. If something has taken place, surely it'll be of the users mistakes.
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yinoye
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October 25, 2017, 12:48:40 AM |
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Being a digital currency, it is risky to put all your capital in Bitcoin. You allocate only a percentage of your capital to it .
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SushiMonster
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Activity: 306
Merit: 107
I'm going to eat your cookies
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October 25, 2017, 01:02:06 AM |
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I would advise for starters you can put 50% of your bank savings into bitcoin, but if you're such a risktaker you can put 80% of it if you really want to.
Bitcoin price is unpredictable but according to the prediction of others, the price of bitcoin until december will stay on $5000+.
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mdfahim
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October 25, 2017, 01:03:31 AM |
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Yes too risky! I woild suggest go in gold and silver too if you really wanna get rid of fiat!
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Soutogu
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October 25, 2017, 01:04:59 AM |
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Bitcoin is probably the safest coin you can buy right now, but the risk is still very high, so pnly invest what you can afford to lose. This gets thrown around a lot for good reason! Diversify your investments into other venues aswell to be on the safer side if things go south.
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thet
Full Member
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Activity: 322
Merit: 110
elysian.finance
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October 25, 2017, 01:15:27 AM |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Putting all your money in any investment is so much risky. Why don't you save atleast 50% of it. If trading follows your instinct your invest of 50% can be doubled. If you did not make it good then, you can have your another 50% to invest.  |
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