Would you store all your wealth in BTC?

[TonyOliver]

Something terrible could happen to the internet like an solar flare knocking out half of the worlds computer systems - there is still a place for traditional commodities. A wise man would have a mix of investments - a balanced portfolio as it were.

[madmadmax]

Something terrible could happen to the internet like an solar flare knocking out half of the worlds computer systems - there is still a place for traditional commodities. A wise man would have a mix of investments - a balanced portfolio as it were.

It was the same thing that I suggested in the original post though! Please read it as well as the title, also if there was a solar flare you could wipe your ass with dollar bills and only fools would accept them in exchange for real world goods, however I would use the opportunity to hoard some BTC as soon as the interwebz is up if that ever happens.

[SilverandBitcoins]

I'm not rich, but I have physical silver in about 4 locations, some gold, I purchased a very small amount of palladium and platinum,saved 100% copper pennies, I save all nickles I get as change, I have some BTC,LTC,PPC,QRK,DVC, I try to keep some cash on hand, a tiny amount in checking, I've got well off relatives, and my signifigant other ownes her house outright, has a lot in stocks, has lots of cash and credit and a wealthy, elderly dad.  Also, I have almost zero debt.

[tclo]

All your wealth means 100% and no I woudn't store 100% of it in there.

[CoinCidental]

when the solar flare hits your fiat atms are not going to be working either
if it takes out the internet and power on your continent it will take out the regular banking as well
(atms and debit cards  wont be much use without their network to connect to so no benefits over btc )

you think high street banks are going to let people withdraw if they cant turn on their  computers to see how much  ?

any natural disaster that could wipe out the bitcoins coud wipe out fiat currency  equally well since all money
its pretty much digitally controlled  anyway

unless you have a bedroom full of cash youre going to be screwed  either way

[C10H15N]

Not only no, but hell no.  I have a diversified portfolio and bitcoin is part of that diversification.

[bryant.coleman]

Oh! Come on! Who will risk all his money on Bitcoin? If you are a hard core BTC enthusiast, then 20% should be the maximum limit. That doesn't man that I don't have faith in Bitcoin. But rather, I have quite a bit of bad experience with various HYIPs.

[TonyOliver]

Even if you did decide to do it - it would be a really bad idea to put it all in at once. If you use a principle called pound/dollar cost averaging - and move your money into bitcoins in chunks over time - you can reduce the effects of volatility - on days when bitcoin is up and you can buy less with your fiat currency - you are benefiting from the capital growth you have made on your existing holdings. On days when it is down - you can benefit from buying bitcoins at a reduced price.

If I did decide to put all my eggs into the bitcoin basket - I would do it this way - over maybe 5 years. If over time I noticed the general trend in bitcoin prices was downward - I would abandon my investment strategy and look for something that worked better.

[davedx]

Cash under my bed
Bitcoin in my head


Nah, actually I'm not that paranoid, yet. I buy a small amount of BTC (around 1) every couple of months, but to me it's still more of a hobby than a serious investment. I'm currently saving for a house, and I'm using fiat for that.

I am a true believer though. I think BTC definitely has a real future, which is why I'm keeping my BTC as BTC and won't be cashing out in the forseable future.

[polarhei]

Nope.

Only few will be in BTC for the time being.

[Nikinger]

No, because putting all the wealth in just one pot increases the danger of a total loss.

[madmadmax]

Judging by the replies I don't think a single person has read the actual post...

[Ecurb123]

No I can't think of reason why I would keep all my wealth in bitcoin. But more than money, one of the best things you have is yourself. By that I mean your skills and your relationships.

[QuestionAuthority]

Judging by the replies I don't think a single person has read the actual post...

I think they have. I think everyone assumes by "change" you mean disposable income. I wouldn't keep all of my disposable assets in any one form. I hold a few different forms like Bitcoin, gold, shares of common stock, IRA etc.

It's always preferable to diversify. Concentrating your assets is a recipe for failure.

[johnyj]

Bitcoin is a wealth token 

[Kazimir]

But would you make the switch to completely close off all your bank accounts and store all that "change" in BTC?

I wouldn't originally, when I started with Bitcoin, not yet. But nowadays more than 95% of my total net worth is in BTC, and I have no intention to change that

[birdynbee]

I think it depnds on what the future of all currencies will be. a total paradigm shift could occur - the nerds will now be the op 1%?

[illpoet]

i wouldn't have any wealth it wasn't for bitcoin and litecoin so its kind of hard for me to branch out at all.i do have pretty nice silver coin collection so i guess that would count too, but its insignificant compared to crypto, really just a way to deal with impulse spending.

[TonyOliver]

I find it unlikely that the 1% will just hand over their wealth to the nerds. Be prepared for a fight.

[theskillzdatklls]

i'm pretty much all in on btc.  swings are pretty massive but idc.