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siti25
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October 12, 2017, 12:05:09 PM |
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It is very risky because of bitcoin market is very volatile. If you hold your btc very long time it can be but otherwise you shouldn't turn all your money.
Whatever we buy, payments with money will always be valid and will always be accepted, whether cash or account. But bitcoin, not all purchases we can pay with bitcoin or bitcoin have not been received for everything. So replacing all our money with bitcoin is a huge risk. If you want to at least wait until Bitcoin really accepted everywhere. |
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iyan33
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October 12, 2017, 12:15:08 PM |
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It is very risky because of bitcoin market is very volatile. If you hold your btc very long time it can be but otherwise you shouldn't turn all your money.
I think if you change your money to bitcoin for trading purposes or short term investment of course this is not too bad for you because by using trading method of course you can get profit quickly but it depends on your ability and knowledge in trading. |
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Karmakid
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October 12, 2017, 01:01:59 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!
There would always be a risk in every investment, The question is are you willing to take or grab the risk and wait for the result what ever it might be? |
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rowbot
Member
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Activity: 96
Merit: 10
NOW
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October 12, 2017, 01:07:27 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's risky to turn all your money into bitcoin. Bitcoin is volatile and if you know what you are entering you understand the risk that you'll be taking. And if your money is just staying in the bank and earning with a very low interest better to take the risk in bitcoin by buying at dip and wait for it to grow. The profit in bitcoin may grow in lesser time than your expectation. More risk, more profit but invest only what you afford to lose. Man, always diversify it...don't put all your eggs in 1 basket. Risk management is No1 Priority! |
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cryptoknightt
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October 12, 2017, 02:02:30 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!
There would always be a risk in every investment, The question is are you willing to take or grab the risk and wait for the result what ever it might be? yeah every investment always has risks. but putting all the money the risks are very big, I wouldn't recommend it. don't see the results, but the risk is that you could just be stress when the money is gone. Please act according to the ability. |
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rajsimran
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October 12, 2017, 02:50:03 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!
Depends on your country. If your country accept Bitcoin then no risk.if your country don't accept Bitcoin then it's risky.Government can take an action for money laundering case.Also they want to see your earning history. Also Bitcoin price is pumping by holding Bitcoin you can make more money |
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nareshrohra
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October 12, 2017, 02:54:58 PM |
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Yes its risky to put all your money in bitcoins. You should put a portion of money in cryptocurrency not just in bitcoin. Bitcoin is huge so it won't grow too fast but there are other coins which can grow multifolds. For example ETH, NEO, OMG etc
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Carreuh
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October 12, 2017, 03:03:33 PM |
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Well, more risky if your money doesn't do anything. It's better to risk investing in bitcoin, because it's obvious that value bitcoin will continue to grow. While saving in bank, nothing.
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milandres0207
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October 12, 2017, 03:07:06 PM |
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i suggest to you that half of your money only, so that if you need it in emergency you can get it anytime you want. because we don't know what would happen next, and the price of bitcoin is always change we don't know if it is goes up, or down.
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elliottflz65
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October 12, 2017, 03:08:26 PM |
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i suggest to you that half of your money only, so that if you need it in emergency you can get it anytime you want. because we don't know what would happen next, and the price of bitcoin is always change we don't know if it is goes up, or down.
Somewhat good advise as there is a up and coming fork which could mean you could doulbe your bitcoin depending on how the bitcoin price is affected |
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asus09
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October 12, 2017, 03:10:43 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 very risky. but basically in accordance with the benefits that can be obtained. see now the rise of bitcoin, not a bitcoin thing would be pumped back for later this year. so I think this is a matter of speculation. |
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Dfinest
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October 12, 2017, 03:14:07 PM |
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Yup, it's very risky. If you want to do something with your money, don't ever put all your eggs in one basket! In other words: invest in different things, of course, very carefully, after a detailed research.
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luigidosado
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October 12, 2017, 03:17:09 PM |
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For me, as a person with a not so big amount of money, I think, putting all my money is a really risky and bad. I need cash for my everyday expenses. From food and all the other basic stuff that I need. Putting all my money on bitcoin is a risk because you won't have extra money for emergency purposes. What's better idea is to budget the money you have and allot a certain amount of money that you will invest here.
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leonix007
Sr. Member
Offline
Activity: 1008
Merit: 297
Grow with community
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October 12, 2017, 04:09:21 PM |
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Yes very risk, you should save some your money to the other things. Better for bitcoin is for long term investment.
Exactly because if we convert all our assets to bitcoin and in future we need money for some reason and bitcoin is down at the same time then we will haveto face a loss because we have to exchange bitcoin at that time. So better is invest some percent of your savings. it's just the matter how dare are you taking risk, we have seen a lot of stories about how someone take big move by sell almost everything include their house for the sake of long term investment and while waiting the price increase they are travelling around the world. and when they back from travelling they can see how their investment work. live is about taking risk isn't it? so , it's up to you! indeed risky but it's worth! That's a person with full flavors in life, Others may call him an insane/pathetic/crazy person, but for him living without risk is a boring life, I guess he is now witnessing the evident of what risks he takes, bitcoin is continuously gaining price increase. |
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Pinkris128
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October 12, 2017, 04:14:22 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's risky to turn all your money into bitcoin. Bitcoin is volatile and if you know what you are entering you understand the risk that you'll be taking. And if your money is just staying in the bank and earning with a very low interest better to take the risk in bitcoin by buying at dip and wait for it to grow. The profit in bitcoin may grow in lesser time than your expectation. More risk, more profit but invest only what you afford to lose. Yes its really risky to turn all your money into bitcoin because of the act that the value of bitcoin was not stable and it can change every seconda. If the bitcoin price will dump then you will lose lot of your money but when it pump then there is a possibility too that your money will increase. You must only need to monitor its value if you are going to turn your money into bitcoin so that You wont lose it. It is risky but you may get big profit as well here and I think that was one reason why there are lot of people invest here. |
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Vaflia
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October 12, 2017, 04:21:16 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!
That would be silly at least from the point of view of money management. Of course you shouldn't keep all your money in dollars or bitcoins, distribute your funds wisely. I would advise you to leave 50% in dollars, and the other 50% is distributed equally between BTC, ETH, LTC and XMR. Good luck. |
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superjeyy
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October 12, 2017, 04:29:31 PM |
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Without a doubt, turning ALL your money into Bitcoin can be risky. It is prevalent how the value of Bitcoin can be unpredictable and is constantly fluctuating. Given that scenario, you should be ready with all the possible consequences that is bound to happen due to your actions. It can come to a point where you win some, you lose some or have it all gone so be very smart before converting your money. A part of your money converted will do for sure.
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cyberChevan
Member
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Activity: 91
Merit: 10
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October 12, 2017, 04:31:57 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!
If that's what you want then go ahead and do it. But I think you already know the answer yourself. We all know that that's an unwise decision because if something went wrong then you just bid goodbye to your money that used to be safe in your bank's vault. Investments in any form are risky but if you want to invest do it in a calculated risk. |
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thisappointed
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October 12, 2017, 04:34:03 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!
There would always be a risk in every investment, The question is are you willing to take or grab the risk and wait for the result what ever it might be? yeah every investment always has risks. but putting all the money the risks are very big, I wouldn't recommend it. don't see the results, but the risk is that you could just be stress when the money is gone. Please act according to the ability. There is a saying that you should never put all your eggs in one basket or something like that should be followed since once you've putted everything on a single investment and it failed then there is nothing for you left. Better spread you money in different stuffs you are investing. In case on the crypto world, put your investment on Bitcoin, Waves, Ethereum and other sub altcoins like newly ICO ended altcoins that has a solid investment reached. |
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Fatanut
Legendary
Offline
Activity: 1008
Merit: 1060
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October 12, 2017, 06:22:12 PM |
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That is a really risky move because bitcoin is not backed by any commodity at all. No government has issued bitcoins and so if the price goes down, then you have no one to blame but yourself. It is obvious that people are manipulating the price of bitcoin. Today we are experiencing a huge price increase in the price of bitcoin and someone might be just manipulating the price and this is just nothing but another pump and dump movement.
If you are going to turn all your money in bitcoins, it's not only risky but also inconvenient. Not much in the market are accepting bitcoin and if you are simply going to buy basic things like food and stuff, then you really need to use fiat money which you don't have anymore.
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