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EmJay
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October 11, 2017, 06:06:28 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!
yeah a sort of. maybe the exact thing to say is not a very wise decision to do.it is ok to invest your money but not all because bitcoin is volatile. if we earn we will earn bigtime but if we fail it is also the same. to makr it wiser I think not all of your money. try some because as of now bitcoin value is higher. |
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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Siopao
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October 11, 2017, 06:07:43 AM |
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Yes, it is very risky to put ALL your hard earned money in bitcoin. Let's just say invest 10 % or 20 % of your money in bitcoin, that way you won't be at risk of loosing large amount. The value of bitcoin is not the same it goes high and down, what if at the time that you needed cash the value is at its low point you wouldn't want that. Every investment have its own risk so we should be wise and cautious of our every move. Be educated and be updated, it won't harm if we put a safety border on up to how much we'll invest into something.
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bitctrimor1
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Activity: 252
Merit: 104
“Blockchain Connection Framework”
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October 11, 2017, 06:11:11 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!
Even if its money just sitting in the bank. It is certainly a very risky proposition to put all your money into bitcoins. The currency is volatile and is up coming. Although it has a lot of potential and is very promising, money still has more value and more established as a currency. Its purchasing power, market value, and credibility is more reliable. |
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Jateng
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Activity: 1258
Merit: 144
Think Different
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October 11, 2017, 06:12:04 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!
Yes it very risky. We do not know if in the next day bitcoin will go down its price or what, banned by anyone or what. I have read another thread quite similar than your topic. He / she already converted all her grandmother’s bitcoin and now he / she is worrying when will be the next climb. Maybe we convert our money into bitcoin if bitcoin already or totally replace cash. But by now, it is still impossible for now that bitcoin replace cash. For the money place in the bank, you’re wrong that it “do nothing”, it grows but little by little. Your money in the bank is used to make other people loan and maybe 1% interest is what you get because the bank use you money. |
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nmaryrai
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October 11, 2017, 06:12:38 AM |
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The risk is obviously there, even if you invested a bit of your money in bitcoin the risk is persists but the impact of those risks for you is smaller. But if you invest all your money in the bitcoin the risks you will face become bigger and I do not think it's a good idea
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salmanahmedone
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October 11, 2017, 06:26:04 AM |
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You can turn your money to bitcoins but i am not agree with "ALL". Well its true in order to start your business you have to invest. But you should to invest wisely. You can't spend your all money at once and for bitcoin its highly risk for you. Bitcoin has not fix price and your invested amount can increase or decrease in value in the matter of days. You should understand on how much money you want to invest and how much you will get profit and withdraw. Need to make a proper plan in order to maximize earnings.
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gabmen
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October 11, 2017, 06:32:42 AM |
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Yes, it is very risky to put ALL your hard earned money in bitcoin. Let's just say invest 10 % or 20 % of your money in bitcoin, that way you won't be at risk of loosing large amount. The value of bitcoin is not the same it goes high and down, what if at the time that you needed cash the value is at its low point you wouldn't want that. Every investment have its own risk so we should be wise and cautious of our every move. Be educated and be updated, it won't harm if we put a safety border on up to how much we'll invest into something.
Right. Extremely risky and never a good idea. We'll never know if bitcoin will crash or not, though hopefully not for all our sakes. None the less, better to think about the worst case so you're prepared for whatever may happen |
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zypa
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October 11, 2017, 06:34:02 AM |
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Just put a small portion of your salary each month. Never risk more than 20% of your resources, or even better 10%
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denny27
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★Bitvest.io★ Play Plinko or Invest!
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October 11, 2017, 06:39:38 AM |
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In investing of course there are risks that will be experienced. It's good if we do not turn all the money into bitcoin, to keep watch in the face of risk should be only part of all the money we have, it's better I guess and can reduce a risk.
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Jendral Istimewa
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October 11, 2017, 06:42:11 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 very risky if all your money changed into bitcoin, because bitcoin does not have the law of bitcoin, if your money is lost who is responsible. |
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12retepnat34
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October 11, 2017, 06:49:12 AM |
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In every investment their is a risk specially if all of your money turn into bitcoin, you just can invest half and other of your money just save it in the bank.
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Scorpion
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October 11, 2017, 06:59:54 AM |
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All of it? Yes. Put an amount where you can survive even if a emergency happens you need quick access to your funds. Please do your own research and make your own decisions on where to place your wealth. For me it's like 10% of my income.
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kimochidesh
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October 11, 2017, 07:01:39 AM |
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A wise man said "Don't keep all your eggs in one basket". Therefore don't invest all your money in direction. Bitcoin being decentralised is highly risky... Although the profit is also high. So invent that you afford to loose.
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kangjiasg
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Merit: 101
Exclusive Member
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October 11, 2017, 07:09:54 AM |
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I am trying to put my money steadily into the market. It gives me a reason to save money from alcohol, large spending on buying unnecessary stuff and instead put those money into bitcoin and alts.
Of course for the question whether to put "all" the money in, definitely not a wise choice.
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Seeker#9
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October 11, 2017, 07:24:08 AM |
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if you are a risk-taker and already an expert in making money in bitcoin, then go for it. After all, all kinds of online investments are risky and bitcoin is no different from it. But if you are newbie to bitcoin investment, it better to study cryptocurrencies first and their volatilities.
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Bren Briones
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October 11, 2017, 02:02:30 PM |
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You can trust bitcoin for its credibility but thinking wisely will tell you not to invest all your money for it. Just like having ten eggs, you wo'nt give up all your eggs, you will leave some for the future.
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Robofus
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Merit: 12
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October 11, 2017, 02:04:00 PM |
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You can trust bitcoin for its credibility but thinking wisely will tell you not to invest all your money for it. Just like having ten eggs, you wo'nt give up all your eggs, you will leave some for the future.
exact ! |
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AK47-
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October 11, 2017, 02:08:28 PM |
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Bitcoin has so far this year beaten many traditional investment asset in terms of ROI it has to offer on invested amount in shorter period. This make Bitcoin to be a lucrative investment. But never ever, even if you blindly trust your investment asset, invest in one asset. Always diversify your investments that too not among cryptocurrencies only but in various other assets as well. This saves the chances of complete loss. Invest about 30% of your salary but in different assets in which the most trusted asset should have the larger part in investment.
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kandholabhavna
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October 11, 2017, 02:12:32 PM |
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Would you keep all your eggs in the same basket? The answer should be NO. I suggest that you should not invest more than 20% of your total savings into any share, stocks, property or commodity. Split them, its called risk management. Read about it please.
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aoihs00
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October 11, 2017, 02:13:00 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!
Sounds very risky to me. I mean it's good that you are having faith into bitcoin (100%++) which we all do but there should be proper strategy while investing your money. Though your money is just sitting around your bank but there could be situation like emergencies, parties, going for outing abd stuff like that which is necessary for your daily healthy lifestyle. That's where you might need it so put half of the share or keys into bitcoin and let the money grow on one side and use rest to enjoy your life. ;-) |
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