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Author Topic: Should I invest $70,000 in Bitcoin? How should I do it?  (Read 5048 times)
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October 30, 2013, 04:48:40 AM
 #61

Diversify. Sure it sounds good to maybe hit the btc jackpot, but there is always the opposite end of that as well.
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October 30, 2013, 04:53:09 AM
 #62

be safe. make sure you only get assets with no counter-party risk and diversify. maybe 33% in bitcoin, 33% in gold, and 33% in silver. for example.

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October 30, 2013, 04:54:47 AM
 #63

Here is what I recommend. Spend 35 thousand in a stable stock and keep the other 35 thousand. Bitcoin may crash anytime soon so be ready to buy when it does.

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October 30, 2013, 12:17:16 PM
 #64

nobody can tell you what BTC will do in the coming years but if you look to other developments the last few years (Facebook and Twitter beat social life, Whatsapp beat text messaging, Skype beat paying for phone calls) This makes me hope BTC and cryptos as a decentralized system will take over the powerful people who decide what my dollars and euros are worth.
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October 30, 2013, 12:25:55 PM
 #65

It's dangerous to go all in in bitcoin. Just put 10-20%.
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October 30, 2013, 01:29:34 PM
 #66

It's dangerous to go all in in bitcoin. Just put 10-20%.

That is highly dependent on a lot of things.

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October 30, 2013, 02:02:55 PM
 #67

Thats a good amount of money to work with , many options there would i invest all that into bitcoin mining or buy them ? I wouldnt buy them find a reliable place to buy your mining gear . Try 10k to 20k to start for the investment next buy some gold to park that capital into not all but a chunk this would be good for future . The main thing is if you dont buy your shoes to run you wont be in the race so its pay to play go for it . and i see many say multiple baskets with your money . Over 20 years has brought me to the conclusion that is the only way to make money consistently baskets fail and so i always keep my eye on new baskets to add to my income . In the end its a personal choice   for sure you just need ot make one , Peace
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October 30, 2013, 02:30:20 PM
 #68

First of all, only invest an amount you can lose. The BitCoin price is going up steadily, but it can crash just as any other market.
If you do invest in BitCoins and want to get more out of it I would advice you to buy some shares from a stable company.

The first reply is immidiately the most important one
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October 31, 2013, 08:35:30 AM
 #69

Invest $35,000 in Bitcoin and $35,000 in Litecoin. 10 years later WOHOOO...
and lose that investment in litecoin, smart move.

+1 invest in Litecoin is higher risk than Bitcoin.

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October 31, 2013, 08:49:01 AM
 #70

ultimately it is your parent's money, so you should check with them, but I would say 10-20% in bitcoins, and the rest in stable stocks/bonds/savings portfolio... the return is nice on bitcoins, but tomorrow the price could be 2 dollars per bitcoin... there is no way to tell unfortunately. It also depends where you are, because if you are in the US and the US tries to outlaw it like they did with online poker, you might run into some trouble liquidating your funds.
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October 31, 2013, 11:15:29 AM
 #71

Invest $35,000 in Bitcoin and $35,000 in Litecoin. 10 years later WOHOOO...
and lose that investment in litecoin, smart move.

+1 invest in Litecoin is higher risk than Bitcoin.

At the current price it seems that Bitcoin is higher risk compare to litecoin...

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October 31, 2013, 11:32:02 AM
 #72

At the current price it seems that Bitcoin is higher risk compare to litecoin...
There are tons of altcoins that cost way less than Litecoins, does that make them less risky?
(hint: no, this is only one parameter of the equation)
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October 31, 2013, 11:55:44 AM
 #73

The LiteCoin price drops when BitCoin increases (I have seen that multiple times), so investing in LiteCoins seems like a stupid move if you ask me. I burnt my hands twice on them. I never ever want to have LiteCoins again (except as collateral for a loan when the price is steady / the total value is much higher then the loan value).

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October 31, 2013, 12:19:09 PM
 #74

The LiteCoin price drops when BitCoin increases (I have seen that multiple times), so investing in LiteCoins seems like a stupid move if you ask me. I burnt my hands twice on them. I never ever want to have LiteCoins again (except as collateral for a loan when the price is steady / the total value is much higher then the loan value).

Well, when Bitcoin price drop Litecoin increase. So the risk is just the opposite....

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October 31, 2013, 12:22:04 PM
 #75

The LiteCoin price drops when BitCoin increases (I have seen that multiple times), so investing in LiteCoins seems like a stupid move if you ask me. I burnt my hands twice on them. I never ever want to have LiteCoins again (except as collateral for a loan when the price is steady / the total value is much higher then the loan value).

Well, when Bitcoin price drop Litecoin increase. So the risk is just the opposite....
I think Bitcoin won't drop that much anymore. Just look at the SilkRoad price recovery.

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unthy
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October 31, 2013, 12:22:51 PM
 #76

The LiteCoin price drops when BitCoin increases (I have seen that multiple times), so investing in LiteCoins seems like a stupid move if you ask me. I burnt my hands twice on them. I never ever want to have LiteCoins again (except as collateral for a loan when the price is steady / the total value is much higher then the loan value).

I have never held more than ~$25 worth of Litecoin but as I do recall Goat made a ridiculous amount of money buying Litecoins when Bitcoin went up a lot (and Litecoin down) and reversing the the process when it was the other way around. if you expect the 1:50 ratio as XAU:XAG than there is money to be made right now. I'm not planning on buying more Litecoin however, I'm busy watching the basket in which I put my Bitcoins like a hawk Wink

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October 31, 2013, 01:00:12 PM
 #77

The LiteCoin price drops when BitCoin increases (I have seen that multiple times), so investing in LiteCoins seems like a stupid move if you ask me. I burnt my hands twice on them. I never ever want to have LiteCoins again (except as collateral for a loan when the price is steady / the total value is much higher then the loan value).

Well, when Bitcoin price drop Litecoin increase. So the risk is just the opposite....
I think Bitcoin won't drop that much anymore. Just look at the SilkRoad price recovery.

Who knows, china might just dump Bitcoin and decided to have fun on the cheap alt-coins..

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November 01, 2013, 02:44:12 AM
 #78

It is hard to give advice on this without knowing what your goal is.  Are you in it for a long haul (years? decades?) Or is this a 6 month thing...
I have a good idea of what *I* would do, but I probably have completely different goals and circumstances.
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November 01, 2013, 03:26:22 AM
 #79

I am about to receive $70,000 in a couple days. My parents want me to put it into an investment account, but I am thinking about investing in BITCOIN. Do you think that I should do this? What would be the best way to invest in BITCOIN? How long should I keep it invested? What is my probability of loosing money? Thanks a lot for your opinion.


Be careful. Invest in BTC and LTC as a backup. I would split 70/30 BTC/LTC. Buying a large mining rig as well.
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November 01, 2013, 03:39:23 AM
 #80

If $70,000 represents a significant portion of your net worth it's not a good idea, no matter how good the outlook on bitcoin is.  As an individual you can't accept unlimited risk.  Obama could wake up tomorrow and crush bitcoin.  You need to diversify away that individual level of risk.  Maybe take a few thousand of it and put it into bitcoin if you're really into the idea (I think it's headed up), but take the rest and put it in a series of index funds.  Try a Vanguard small cap index fund and a capital appreciation fund for most of it.  You have to protect yourself!

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