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Bay_Harbour_Butcher
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October 05, 2017, 03:00:39 PM |
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there is nothing that does not have a risk, especially things that are associated with bitcoin, because bitcoin and altcoin the other is a very unstable currency, and always fluctuate, you should not all your money is converted into bitcoin, but some, because bitcoin is still potentially big to increase
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xbl1008
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October 05, 2017, 03:03:03 PM |
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it depends if you are residing in a country that bitcoin is widely accepted it is good but if you can't buy basic needs in your country using bitcoin it is bad cause nothing will left in your wallet that can be legal tender
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Transformbitz
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October 05, 2017, 03:07:04 PM |
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nope its depends on how you will use your bitcoin! if you keep it for too long time will tell you'll be a winner. don't sell your bitcoin when it dips. sell your bitcoin when it goes up.. buy as soon as possible. this is a long term goal.. government will adopt bitcoin. and early adopters will benefit from it..
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subSTRATA
Legendary
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Activity: 1288
Merit: 1043
:^)
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October 05, 2017, 03:13:17 PM |
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there is nothing that does not have a risk, especially things that are associated with bitcoin, because bitcoin and altcoin the other is a very unstable currency, and always fluctuate, you should not all your money is converted into bitcoin, but some, because bitcoin is still potentially big to increase
it's not the volatility of bitcoin that's the big risk here, it's the complete lack of diversification. putting everything into one asset means you accept the risk of a crash; if your asset drops 10% overnight (which has happened before with bitcoin, and there have been larger dips in price), you just lost 10% of your net value overnight. if anything, diversifying your holdings into several cryptocurrencies would be a much better move in my opinion. if one drops, you're going to take a smaller hit, and another currency could have risen to compensate. |
theres nothing here. message me if you want to put something here.
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Xester
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October 05, 2017, 03:14:42 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!
As long as you are willing to risk all those money of yours. There is no guarantee as to the earnings or profit that will come back to you. But as they say, the higher the tisk, the higher the income will be. Question is are you ready to risk all your money for bitcoin? Considering the continuous hike of bitcoin price, it could give you an earning. Just wa5ch the movement of bitcoin carefully. In any case just keep some of your money for emergency use. |
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Lancelot04
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October 05, 2017, 03:22:47 PM |
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Yes, for now there's a risk. Although Bitcoin and other crypto currencies are profitable, do not ever put anything you don't afford to lose.
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jumpercrypto
Newbie
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October 05, 2017, 03:37:01 PM |
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Of course it is. Not all bills are payable with bitcoins.
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mrcash02
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October 05, 2017, 03:40:52 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!
As long as you are willing to risk all those money of yours. There is no guarantee as to the earnings or profit that will come back to you. But as they say, the higher the tisk, the higher the income will be. Question is are you ready to risk all your money for bitcoin? Considering the continuous hike of bitcoin price, it could give you an earning. Just wa5ch the movement of bitcoin carefully. In any case just keep some of your money for emergency use. In this case I think it's really risky, because we are talking about "all his money". It's always good to have a plan B and in this situation there isn't, if BTC price goes wrong for any reason all his money will be compromised. So it's better to save some money in fiat too. OP should check how much money he needs to live and let this amount in fiat, the rest could be invested in BTC. Always that he can make some profit from BTC, withdraw to fiat, this way he starts accumulating a "ROI" in fiat. |
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Ariess
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October 05, 2017, 03:41:19 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, at risk. but I think it's a choice and a speculation, maybe you can allot for some allcoin and of course bitcoin too. you can do an investigation before you buy it. I guess you are presented at many options. |
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finzyoj
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CryptoTalk.Org - Get Paid for every Post!
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October 05, 2017, 03:41:52 PM |
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Definitely yes! It is very risky but it is still up to you if you are a risk taker then go. But for me, I won't going to do that, just remember the phrase "Only invest what you can afford to lose".
Right. Only take an amount for investment what can afford to lose because you are taking risk of your money in bitcoin without assurance if going to have profit or not. Be patient and wait the time when the price will be double and have profitable after more than a year investment. |
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mehcat11
Member
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Activity: 77
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October 05, 2017, 03:42:42 PM |
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Yes, that is risky to turn all money into bitcoin.
If you mean to turn all of your money into bitcoin and use it as payment method, i think that is not profitable.
Because bitcoin doesn't have a stable price as medium of exchange in daily life.
For now, i think bitcoin have more profit as an asset.
If you mean to use bitcoin as investation, maybe you must learn how to do a good investment.
I agree with proverb who says “Do not commit all to one boat”.
Don't use all of your money in investing bitcoin.
Just be patient and pay attention in bitcoin speculation every times.
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dustboy
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October 05, 2017, 03:46:00 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!
It not risky mate but sometimes ones need to becareful not to be greedy. What I will advice you to do is to turn 50% of the money you had into bitcoin while to keep the rest and you can keep on doing that on a weekly basis because bitcoin will bullish pretty soon. How could you say it is not risky, do you think there is a guarantee that he wont lose all his money in some possible cases like being hacked, scammed by the wallet/exchanges, etc. I would advise turn your money into bitcoin wisely, you know how much you can afford to lose so just turn that amount only. No more.. |
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Adioliver
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October 05, 2017, 03:46:48 PM |
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Yes off course it is risky,never convert all your bitcoins to money as you may regret it in the future.Let me elaborate this to you.Bitcoin holds a great potential,it has much room to grow.It has only been about 8 years since it's birth but you can see it's growth year by year.It started with just a couple of dollars per BTC and now here before you it stands at more than $4000 per BTC.The value just keeps on rising so please try investing your Bitcoins rather than converting them into money without a proper/urgent reason.
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misterj
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October 05, 2017, 03:48:54 PM |
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You could say that it is risky when you turned all of your money to bitcoins when the value of bitcoins is in its peak or in growth rate. Thus, making your profit lesser instead of you making more money. You should turn it all when the value of bitcoin is decreasing or at its lowest value rate because when it increases your money invested also increases, making or producing a big profit.
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MFY151
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October 05, 2017, 04:07:51 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!
of course it would still be risky, and at the same time would mean a higher income gain in your part of investment. I suggest don't go all out save some in case of emergency but it wouldn't be bad to invest your money to bitcoins by 70/30 in favor of bitcoins as early as possible. |
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Denies
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October 05, 2017, 04:09:08 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!
obviously there. risk has become part of the investment, so you have to rethink for it, you have to make sure you can buy with confidence, I think you should reconsider and trace the long-term bitcoin. if you can already buy it as you want. |
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King Sastro
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October 05, 2017, 04:10:38 PM |
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I suggest not to put all the money into bitcoin, of course very risky, make sure all our needs are met, any investment is risky but if later make us poor then do not take risks, better invest the money up to 45% of all the money we have.
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natsu_koo
Member
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Activity: 186
Merit: 10
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October 05, 2017, 04:16:58 PM |
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Yes it is though it is part of the investment bit it is too risky because bitcoin dont have a stable price, if you turn all your money into bitcoins there is a possibilty that the bitcoin's price will decrease.
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frmracc
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October 05, 2017, 04:18:15 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!
Bitcoin is good for sure but we never know what will happen on bitcoin in the future. I think it's better to not turn all your money into bitcoins. Just like people said "don't put all your eggs in one basket". Keep some of your money. |
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ARAGETS
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October 05, 2017, 04:26:46 PM |
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Yes bro, very high risk. Dont put all of your money to same place. In this case, you will turn all money to bitcoin. I suggest you, to do saving, but not all. And then, you must do investment, like bitcoin, gold, house or more. Prepare your money to your daily needs too. So, you need backup your economy or you will lose all of your money.
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