Anyone "all in" on bitcoin?

[piramida]

It all depends on how much you have saved. If it's 5k, then it does not really make any sense to diversify, you might as well take an educated guess and buy in. and in BitChick family case, they did it around $150 iirc, so it was a wise decision even.

Of course, if you have a million, betting it all on bitcoin is not wise. But if all your savings fall under "money you can lose", why not risk them. Especially when the odds are strongly in your favor.

[Boxman90]

Don't diversify. There's nothing in the world that can get close to the potential returns of Bitcoin. And no this isn't gambling, it's called calculated risk taking. People with balls do it

Possibly the worst advice on this board. Nothing comes close to the potential to lose a lot either. It goes both ways.

I've seen you panic all over this board during every single semi-big movement. "WAT DO WATDO !!!11!!!???". You're just talking your book, because right now bitcoin is up a bit. Haven't seen any of those balls you're talking about with you.

[ElectricMucus]

Don't diversify. There's nothing in the world that can get close to the potential returns of Bitcoin. And no this isn't gambling, it's called calculated risk taking. People with balls do it

Right, penny stocks do not exist.

[600watt]

I work in Afghanistan as a military contractor. I make a lot of money with no expenses (my house back home is being rented for the amount of the mortgage payment).

Every paycheck gets converted to bitcoins.

You can run silkroad dealership right out of Afghanistan. Wonders of globalization + bitcoin

Not on a military base on a military network that monitors me more than the NSA monitors US citizens.

always thought that´s the reason the troops went there first place 

[sir faps]

Don't diversify. There's nothing in the world that can get close to the potential returns of Bitcoin. And no this isn't gambling, it's called calculated risk taking. People with balls do it

Right, penny stocks do not exist.

Penny stocks and bitcoin can both have ridiculous returns, yes. But they are COMPLETELY different investments in almost every way besides that. If you are taking a calculated risk in a penny stock with a (relative-to-you) large investment, you would pretty much have to be a professional trader. There is no other way that you would accurately be able to calculate the risk.

Bitcoin does not require these years of experience or training. You don't have to pick the RIGHT bitcoin. There are alts, but I think we can agree that at least for now bitcoin is far and away the front runner.

Penny stocks /= bitcoin

[ElectricMucus]

I didn't say it's the same thing, but for all purposes mentioned above it works the same way.

[sir faps]

I didn't say it's the same thing, but for all purposes mentioned above it works the same way.

I agree that both penny stocks and bitcoin work the same way in the sense that they can have large returns.

But person needs years of experience to do penny stocks correctly, and none to do bitcoin. They work differently in that regard

[ElectricMucus]

And it's the same risk-reward strategy, and knowing what Bitcoin does next needs tons of experience too. Saying that it doesn't require experience are typical sings of a speculative bubble.

[lambdaE]

In 2004, I had $10,000 saved up and I had 2 choices. Invest all in to google at $90 per share or buy a brand new motorcycle.

I ended up buying the Motorcycle for $9,600 or so after taxes and other fees. Had I bought Google, I'd have a nice 100k+.
Motorcycle now is worth less than $3,500.

Yes, but you enjoyed your Motorcycle last few years. And the Google could fail...

[mistress_magpie]

I only put labour in, and I only take goods and services out. However I find that I will work hard for bitcoin

[GeniuSxBoY]

And no this isn't gambling, it's called calculated risk taking. People with balls do it

Your statement implies that people with balls don't gamble. In reality, people that gamble with a lot of money without calculation require bigger balls than those that perform calculated risk taking.

[BitChick]

And no this isn't gambling, it's called calculated risk taking. People with balls do it

Your statement implies that people with balls don't gamble. In reality, people that gamble with a lot of money without calculation require bigger balls than those that perform calculated risk taking.

I think that people that gamble are generally foolish to do so, especially at casinos.  If they only gamble what they are willing to lose then I guess it can be fun, but I am not sure I would say that they have "bigger balls."  Maybe less brain cells? 

The funny thing is that BitChicksHusband and I have never been gamblers.  We go to Vegas and don't gamble while we are there.  Why?  The chances of winning are pretty slim.  You would think only the gamblers would be the risk takers with Bitcoin but that is just not the case.

With Bitcoin it is a much better calculated risk and way less of a gamble then playing a game of cards or some slot machines.

So far the "gamble" if you want to call it that, has paid of nicely.

[Syke]

All-in scares me. I prefer a balanced 50/50 approach. I invest in equal quantities of USD and BTC.

[Boxman90]

And no this isn't gambling, it's called calculated risk taking. People with balls do it

Your statement implies that people with balls don't gamble. In reality, people that gamble with a lot of money without calculation require bigger balls than those that perform calculated risk taking.

I think that people that gamble are generally foolish to do so, especially at casinos.  If they only gamble what they are willing to lose then I guess it can be fun, but I am not sure I would say that they have "bigger balls."  Maybe less brain cells?  

The funny thing is that BitChicksHusband and I have never been gamblers.  We go to Vegas and don't gamble while we are there.  Why?  The chances of winning are pretty slim.  You would think only the gamblers would be the risk takers with Bitcoin but that is just not the case.

With Bitcoin it is a much better calculated risk and way less of a gamble then playing a game of cards or some slot machines.

So far the "gamble" if you want to call it that, has paid of nicely.

And your ultimate mistake will be holding on to the inductive "it paid off in the past so it will in the future"-reasoning indefinitely, like I said earlier. It has paid of thus far, no argument there. But you're still gambling and greedy as fuck. Never go all-out, never go all-in.

[theecoinomist]

As in, more than 80% of your savings are in it

Yes, but it didn't start that way

How will I be disappointed? It's not like there is looming global stock market crash in our future or anything. It's not like all of central and south America now has access to bitcoin. It's not like there is a debt crisis in the USA. It's not like the Fed is still printing $85 Billion a month.



oh shit.

[sir faps]

And it's the same risk-reward strategy, and knowing what Bitcoin does next needs tons of experience too. Saying that it doesn't require experience are typical sings of a speculative bubble.

An inexperienced person can succeed in Bitcoin. Buy at any price, wait 365 days, sell. You made money. Requires ZERO experience.

Try doing that with any penny stock and you will lose 95%+ of the time (and that is being conservative)

[ElectricMucus]

And it's the same risk-reward strategy, and knowing what Bitcoin does next needs tons of experience too. Saying that it doesn't require experience are typical sings of a speculative bubble.

An inexperienced person can succeed in Bitcoin. Buy at any price, wait 365 days, sell. You made money. Requires ZERO experience.

Try doing that with any penny stock and you will lose 95%+ of the time (and that is being conservative)

It's easy to claim that post et facto. If that holds to be true over the next decade remains to be seen.

[BlackBison]

You can just take some off the table and diversify into stocks or something. Rare earths or 3d printing are some interesting alternatives.

“Diversification is protection against ignorance. It makes little sense if you know what you are doing.”

― Warren Buffett

[Tisko]

I don't like the narrow way the OP question is formulated. For me it is:
Yes, my very little and all "savings" are held in bitcoin constantly. I'm all in.
No, I haven't had anything I could sell for bitcoin, nor have I EVER bought any bitcoin.
The few bitcoins I have I have earned. I have invested nothing but time and effort.
 

[OC19850520]

I dont think it is necessary to go all in, just start some Business accepting Bitcoin and invest your time. Dont be greedy