SELL ALL YOUR FIAT AND LIVE 100% CRYPTO!!!!

[cryptohoodz]

A while ago (2017) there was this Dutch family that sold all their assets for BTC and is now traveling around the world. He had around 500k USD worth of BTC and expects it will at least make 5x in the next 3 years. In the meanwhile, they are living modestly and using 20% of their cryptos to trade.

Would you dare to do the same? Sell all your FIAT for CRYPTO?

[Noobaru]

Do you maybe have a link to an article about this family since I would be interested in reading a fascinating story like that?

But to answer your question, because it's an interesting one. I really don't know, since I don't have that kind of money. But if I would have, I guess I would invest in crypto, yes. Just not 100% of assets and I definitely wouldn't go around selling any of my beloved physical possessions or family heritage for that matter. But most definitely not if I would have a family. It's a rash decision, really. You need to be brave to do something like that, especially if you have a family. Imagine losing everything and think about the children. Somehow you need to bring them up. If you have $500,000 in possession already, why risk it? But usually, people with money get more money and those with cents, lose even those cents. Sadly, that is how the world works.

[izmirligencforvet]

This is very risky. all  eggs are not in the same basket. I think you should distribute the risk. It's a very wavesly place in crypto.

[silent17]

I would not do the same thing as they did, because as we all know, cryptocurrency is a very risky investment, What if the cryptocurrency suddenly crashes, what will happen to you. That why I always stick to the sayings that, ONLY INVEST WHAT YOU CAN AFFORD TO LOSE. I think this saying is a very reasonable and the most smart way to do with your money. Balance crypto and daily living.

[Pet240]

That is what i cannot do. I can't sell all my fiat for crypto, because I have a policy when it comes to any investment, either in crypto or any other area of investment. I only invest what i can afford to loose. Perhaps the family that sold all fiat for crypto can afford to do, but i tell you it is quite risky. Well business is all about risk.
It is possible that after the 3 years projected, they may be among the richest in the world.

[cryptosifu]

Sell all your fiat?  How do you sell cash?  You mean buy cryptocurrencies with all your fiat and that's a horrible financial thing to do.  Cryptocurrencies can lead to great fortunes but going all-in in anything is a huge mistake and puts your back against the wall.  

[bttmember]

Selling all your assets and money to invest in crypto is not a wise move for me, only invest that you can afford comfortably, also diversification is the best strategy, you can own multiple real world and crypto assets and make money from all streams while lowering the risk.

[DedvTapkax]

These people sold the property and invested in crypto before the market fell. In December, everything was very good, but the next few months could drive investors crazy. I'm not ready to take so much risk.

[valek.bruno]

A very strong statement, but I think that this should not be done, because in that case you are in a very dangerous situation, suddenly the crypto-currencies will start to fall again? Have you thought about this? Probably you need to somehow insure your investments? Most likely it will be more correct than a simple investment.

[akamit]

A while ago (2017) there was this Dutch family that sold all their assets for BTC and is now traveling around the world. He had around 500k USD worth of BTC and expects it will at least make 5x in the next 3 years. In the meanwhile, they are living modestly and using 20% of their cryptos to trade.

Would you dare to do the same? Sell all your FIAT for CRYPTO?

That family certainly did a risky thing and I might admit that they are very brave.
I'm not talking anything BS against crypto because I have faith in it. But selling 100% of your assets to invest in crypto is insane.
What will happen if their invest takes a negative turn? They will be in road, begging for the rest of their life. That's not a smart move at all I believe.

[CryptRoller]

Do you maybe have a link to an article about this family since I would be interested in reading a fascinating story like that?

But to answer your question, because it's an interesting one. I really don't know, since I don't have that kind of money. But if I would have, I guess I would invest in crypto, yes. Just not 100% of assets and I definitely wouldn't go around selling any of my beloved physical possessions or family heritage for that matter. But most definitely not if I would have a family. It's a rash decision, really. You need to be brave to do something like that, especially if you have a family. Imagine losing everything and think about the children. Somehow you need to bring them up. If you have $500,000 in possession already, why risk it? But usually, people with money get more money and those with cents, lose even those cents. Sadly, that is how the world works.

It's in Dutch, but maybe Google Translate will help: https://www.businessinsider.nl/limburger-zet-huis-te-koop-voor-85-bitcoin/

[deepcryptomine]

Nope I would never do that. You are giving example of one successful person but there are many more failures that are out there as well.

http://metro.co.uk/2018/01/19/heartbroken-families-lose-life-savings-catastrophic-crash-bitconnect-cryptocurrency-7242067/

Even though this link is for bitconnect crash, would you think about getting out of crypto just by reading above news?

[CryptRoller]

Oh, apparently another Dutch couple put up their house for sale in 2014 for 877.5 bitcoin. (https://www.ad.nl/economie/huis-in-rotterdam-te-koop-voor-877-5-aan-bitcoins~aad8adf0/)
I can't find if it eventually was sold.

[maliboom]

I read this story in some newspaper. In my opinion, however, now it is no longer time for these perrformances. The transition from fiat to cypt will be continuous but very slow

[JanCoppens]

I do not think it's possible to live 100% crypto. As you say, they have to sell 20% of their crypto (so, turn it into fiat) in order to be able to live. You can't pay school bills in crypto.

[Ciucas]

Come on, it's not possible to live 100% of crypto. You still need to convert some for fiat just for everyday use.
Maybe, in the future when you will be able to pay everything with cryptocurrency it would be possible to do this though.

[KryptoKai]

You have to admire people like that, they live life to the fullest and don't worry about the ordinary bills and daily grind. There are a few people that have sold their assets for crypto, mostly property. Now would be the best time to do it while the market is down and about to rise.

[liseff3]

Profitable, but have a very high risk it is commonly called the Martingale Strategy. The main basis of this strategy is that sooner or later the price will rise far beyond the boundary of the flatlining of earnings. I think this strategy this's not much different from the long-term investments we often make maybe this strategy used by a Dutch family.

[Melfoy72]

A while ago (2017) there was this Dutch family that sold all their assets for BTC and is now traveling around the world. He had around 500k USD worth of BTC and expects it will at least make 5x in the next 3 years. In the meanwhile, they are living modestly and using 20% of their cryptos to trade.

Would you dare to do the same? Sell all your FIAT for CRYPTO?

I saw news last autumn one family with two or tree children did same stupid decision at BTC price 14.000
Gamble and crazy attempt, I think. Especially with children.

[Oasisman]

That would be a very risky move, selling all their assets, you mean everything? Are they using btc to sustain their daily needs? I think they still have a few cents for their daily needs, but majority of their assets was put to btc.
We'll having a huge amount of Btc while travelling around the world made sense.