Would you put all your savings money into BTC?

[favelle75]

no, but I wouldn't put all my savings in a bank neither 

Why not? There's no cost to having it in the bank as long as you meet the minimum monthly required balance

You must be young and have never heard of inflation.  Savings in a bank account slowly degrades over time.

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[klovishey]

no, but I wouldn't put all my savings in a bank neither 

Why not? There's no cost to having it in the bank as long as you meet the minimum monthly required balance

You must be young and have never heard of inflation.  Savings in a bank account slowly degrades over time.

Maybe just the commercial ads works well how clever it is to save money at Bank saving account with x% interest 

[Dabs]

I took out a loan from a bank. Fiat.

I bought bitcoins.

I pay back the bank in fiat. In full.

I have no debt.

And I still have bitcoins left over.

[dnaleor]

I have some cash on the bank (like 5% of my money)
and currenlty I have 66% in crypto. The remaining part is gold and silver

I must admit I started with 10% in crypto

[theonewhowaskazu]

USD is crap, becomes a bit more worthless every single day.  My bank gives me a whole 0.01% on savings, but only upto 25,000$

What the crap is this. What bank do you even use? That's nuts man, terrible rate.

[BitchicksHusband]

Would I or did I?

[geoffreyqp]

this totally depends on how much money you have.

if i only had like 5k to my name, sure why not.. through it all in btc

[PenAndPaper]

Putting all your saving money on BTC or taking loans on BTC or risking anything that you can't afford to lose is just overreaction to the price hype.

[aminorex]

What price hype?  It's still undervalued.

[JimboToronto]

Why not? There's no cost to having it in the bank as long as you meet the minimum monthly required balance

Cost?

Saving money shouldn't cost anything. They should be paying you.

If banks are paying you less than prime, you're getting ripped off

[JimboToronto]

In response to the OP, you should never put all your eggs in one basket.

Diversify. Just avoid fiat currencies.

[Bill Bisco]

I would put approximately half of my savings into Bitcoin.

[mb300sd]

Didn't put much of my savings into it, but bitcoin has become 99% of my savings over the past few years.

[PenAndPaper]

What price hype?  It's still undervalued.

Easy to say that but putting your wealth and future on a bet is to much.

[Shak]

This is insane. I wouldn't recommend putting any money into Bitcoin that could be needed within the next 12 month. The price is rising, yes. But it could also drop to zero, so you have to be able to write the money off the moment you invest.

Even if you have just some small money, I would recommend to keep at least 30-50% in fiat at your bank. What happens if your car brakes need to be renewed? If your oven fails or your refrigerator? Ah, the damn yearly car insurance is due all out of a sudden. And there, damn, I completely forgot about my legal protection insurance, has it always been charged in March? There can always arise more or less "unforseen" problems where you need to access your savings.

With this background you will definetly panic if the exchange value drops below a certain level, and you will panic-sell at a way too low point - giving you a nice loss in BTC and even in FIAT if the timing is bad.

Keep a buffer in FIAT in case something happens, keep some FIAT as savings for the things you will need in the next timespan. Better cut some of your unnecessary expenses and take this money to gamble with BTC. And always keep in mind that BTC is still a virtual toything without guarantee to success.

[JekyllIsland]

This is ridiculously insane. Any rational person would put 60% in bitcoin, 20% in LTC and 19% in other alt-coins like FTC and NMC.

Keep 1% in fiat for food purchases.

[notme]

This is insane. I wouldn't recommend putting any money into Bitcoin that could be needed within the next 12 month. The price is rising, yes. But it could also drop to zero, so you have to be able to write the money off the moment you invest.

Even if you have just some small money, I would recommend to keep at least 30-50% in fiat at your bank. What happens if your car brakes need to be renewed? If your oven fails or your refrigerator? Ah, the damn yearly car insurance is due all out of a sudden. And there, damn, I completely forgot about my legal protection insurance, has it always been charged in March? There can always arise more or less "unforseen" problems where you need to access your savings.

With this background you will definetly panic if the exchange value drops below a certain level, and you will panic-sell at a way too low point - giving you a nice loss in BTC and even in FIAT if the timing is bad.

Keep a buffer in FIAT in case something happens, keep some FIAT as savings for the things you will need in the next timespan. Better cut some of your unnecessary expenses and take this money to gamble with BTC. And always keep in mind that BTC is still a virtual toything without guarantee to success.

I agree that people should be prepared for unplanned expenses, but your examples are terrible.  They mostly involve forgetting something that happens on a regular basis.  Besides, even if I forget about my brakes until they chew through the rotor, I can get new rotors and pads for both sides for less than $100.  If i'm reasonable and replace my brakes when they should be replaces, the pads alone are like $20.

But for the real emergencies, you either need some fiat or to just have so many BTC that it dropping to $100 still leaves you with enough for any reasonable contingency.

[medUSA]

BTC is on the rise, sure. But surely you need to have fiat to pay for your everyday needs right?

Like you need fiat for hospitals, fiat for insurance, fiat for rent, fiat for utilities.....
If you are a teenager who doesn't pay for any of the above, then yes, all in for BTC!
If not, why would you put all your savings money into BTC?

[Shak]

This is insane. I wouldn't recommend putting any money into Bitcoin that could be needed within the next 12 month. The price is rising, yes. But it could also drop to zero, so you have to be able to write the money off the moment you invest.

Even if you have just some small money, I would recommend to keep at least 30-50% in fiat at your bank. What happens if your car brakes need to be renewed? If your oven fails or your refrigerator? Ah, the damn yearly car insurance is due all out of a sudden. And there, damn, I completely forgot about my legal protection insurance, has it always been charged in March? There can always arise more or less "unforseen" problems where you need to access your savings.

With this background you will definetly panic if the exchange value drops below a certain level, and you will panic-sell at a way too low point - giving you a nice loss in BTC and even in FIAT if the timing is bad.

Keep a buffer in FIAT in case something happens, keep some FIAT as savings for the things you will need in the next timespan. Better cut some of your unnecessary expenses and take this money to gamble with BTC. And always keep in mind that BTC is still a virtual toything without guarantee to success.

I agree that people should be prepared for unplanned expenses, but your examples are terrible.  They mostly involve forgetting something that happens on a regular basis.  Besides, even if I forget about my brakes until they chew through the rotor, I can get new rotors and pads for both sides for less than $100.  If i'm reasonable and replace my brakes when they should be replaces, the pads alone are like $20.

But for the real emergencies, you either need some fiat or to just have so many BTC that it dropping to $100 still leaves you with enough for any reasonable contingency.

well, renewal of my brakes was around 450€ (and you renew all 4 of them). and yes, annual payments are usually underestimated. you sometimes just now roughly the time - something around spring. and then one morning you look at your bank account and see your insurence just took 600€ for your car and 500€ for legal protection - leaving you in the red for the rest of the month.

don't know about your "real emergencies". if your car is completely gone you will need a new one, yes. but it may be ok to get a loan in this case to buy it. and if your house burns down you're pretty pissed anyway, no way to prevent drastic losses here.

[notme]

This is insane. I wouldn't recommend putting any money into Bitcoin that could be needed within the next 12 month. The price is rising, yes. But it could also drop to zero, so you have to be able to write the money off the moment you invest.

Even if you have just some small money, I would recommend to keep at least 30-50% in fiat at your bank. What happens if your car brakes need to be renewed? If your oven fails or your refrigerator? Ah, the damn yearly car insurance is due all out of a sudden. And there, damn, I completely forgot about my legal protection insurance, has it always been charged in March? There can always arise more or less "unforseen" problems where you need to access your savings.

With this background you will definetly panic if the exchange value drops below a certain level, and you will panic-sell at a way too low point - giving you a nice loss in BTC and even in FIAT if the timing is bad.

Keep a buffer in FIAT in case something happens, keep some FIAT as savings for the things you will need in the next timespan. Better cut some of your unnecessary expenses and take this money to gamble with BTC. And always keep in mind that BTC is still a virtual toything without guarantee to success.

I agree that people should be prepared for unplanned expenses, but your examples are terrible.  They mostly involve forgetting something that happens on a regular basis.  Besides, even if I forget about my brakes until they chew through the rotor, I can get new rotors and pads for both sides for less than $100.  If i'm reasonable and replace my brakes when they should be replaces, the pads alone are like $20.

But for the real emergencies, you either need some fiat or to just have so many BTC that it dropping to $100 still leaves you with enough for any reasonable contingency.

well, renewal of my brakes was around 450€ (and you renew all 4 of them). and yes, annual payments are usually underestimated. you sometimes just now roughly the time - something around spring. and then one morning you look at your bank account and see your insurence just took 600€ for your car and 500€ for legal protection - leaving you in the red for the rest of the month.

don't know about your "real emergencies". if your car is completely gone you will need a new one, yes. but it may be ok to get a loan in this case to buy it. and if your house burns down you're pretty pissed anyway, no way to prevent drastic losses here.

If you pay someone to do your brakes you are an idiot or you make a shitload of money and can afford to throw some away.