btbrae
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December 31, 2013, 02:51:21 AM |
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My target is to have 50% of my savings in BTC, so what do you think, is this a good strategy?
No, it is a terrible strategy. If you are able to save money and want to receive interest over the amount for a certain period of time, you should use a saving account at your local bank. It is the most safe and better way to secure your savings for the unforeseen future. The best strategy to secure your savings against inflation is invest 0% in BTC. Do not fall for the trick that speculators want you to believe. Everyone which suggests you should buy any quantity of BTC to hold as investment is only doing a favour for the speculators, whose are ready to sell for the next fool the idea the world have an infinite supply of people willing to pay more and more for BTC. It's trickier than that because most savings accounts offer real negative returns (ie. less purchasing power after inflation is taken into account). In this day and age you cannot simply stash money in a savings account and hope it will one day buy you the house you wanted or the pension you dreamed of. You have to consider all kinds of things like how long you have until you need it, what you intend to use it for, economic conditions, risk of other investments etc to make an informed decision. Invest in things you understand and believe in for the future and always keep some reserves liquid for opportunities that arise.
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Kenshin
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December 31, 2013, 02:55:20 AM |
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Why not put 100% in it? It all depends what you feel and think about the value and if you trust BTC in general...
I have 100% saving in Bitcoin only. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) Because fiat currency saving accounts in the UK charge too much tax. Whereas Bitcoin doesn't have any tax currently.
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PolkRB
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January 09, 2014, 12:12:11 AM |
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I put 100%+ into BTC. Every penny I have left over from paycheck goes into BTC and GROWWWS ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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mcleo
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January 09, 2014, 12:25:57 AM |
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Approximately 50%. Enough to make me worried.
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lnternet
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January 09, 2014, 12:45:36 AM |
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Started at 1%, is at 6% now. Think that's a comfortable spot for me. At 10% I'll start selling.
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1ntemetqbXokPSSkuHH4iuAJRTQMP6uJ9
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PolkRB
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January 09, 2014, 12:47:52 AM |
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I will start selling only if I'm out of USD income source and when BTC costs at least $20,000 ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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fluidjax
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January 09, 2014, 12:49:39 AM |
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Why not put 100% in it? It all depends what you feel and think about the value and if you trust BTC in general...
I have 100% saving in Bitcoin only. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) Because fiat currency saving accounts in the UK charge too much tax. Whereas Bitcoin doesn't have any tax currently. Bitcoin doesn't have interest... so there is no need for any income tax like savings. But Bitcoin does attract CGT.
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PolkRB
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January 09, 2014, 12:52:52 AM |
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Why not put 100% in it? It all depends what you feel and think about the value and if you trust BTC in general...
I have 100% saving in Bitcoin only. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) Because fiat currency saving accounts in the UK charge too much tax. Whereas Bitcoin doesn't have any tax currently. Bitcoin doesn't have interest... so there is no need for any income tax like savings. But Bitcoin does attract CGT. It's not interest that will be taxes (if it will be), but rather a capital gain (like stocks). Though if such law passes in the US, I don't know how it's going to be executed cause BTC is almost untraceable. I guess those BTC holders who want to tell IRS how much they have will be taxes and those who don't want, will not.
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billyjoeallen
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January 09, 2014, 01:11:31 AM |
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I'm at 102% if you factor in debt. I know that's ridiculously high, but I just can't sell in a down market. I rode out two crashes, one more rally and I'll sell enough to drop below 90%. I can wait three months before needing to get a second job and I'll wait two years before capitulating and cutting my losses. Hey, the profit is secondary. I wanna see this thing succeed.
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insert coin here: Dash XfXZL8WL18zzNhaAqWqEziX2bUvyJbrC8s
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc
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empoweoqwj
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January 09, 2014, 02:31:00 AM |
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I'm at 102% if you factor in debt. I know that's ridiculously high, but I just can't sell in a down market. I rode out two crashes, one more rally and I'll sell enough to drop below 90%. I can wait three months before needing to get a second job and I'll wait two years before capitulating and cutting my losses. Hey, the profit is secondary. I wanna see this thing succeed.
Profit might indeed be secondary. But a big loss certainly wouldn't be .... hope none of us face that situation !!
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BitDreams
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January 09, 2014, 02:48:25 AM |
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Started at 1%, is at 6% now. Think that's a comfortable spot for me. At 10% I'll start selling.
Your 1% is likely many others 99% - congrats ;->
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bg002h
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I outlived my lifetime membership:)
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January 09, 2014, 02:58:05 AM |
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Well, it used to be like <1%...but now it's like 80%
...but I had to wait a few years.
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PolkRB
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January 09, 2014, 05:25:42 AM |
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I'm gladly using debt in USD because dollar inflates and bitcoin deflates ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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jonanon
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January 09, 2014, 06:47:22 AM |
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I'd say about 15% - if I loose it never mind, I would be more upset if I could have had BTC and have none available when the price skyrockets ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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PolkRB
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January 09, 2014, 06:48:49 AM |
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I'd say about 15% - if I loose it never mind, I would be more upset if I could have had BTC and have none available when the price skyrockets ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) I don't see a way to loose it really. Just look at million dollar investors. If they invest, I'm sure they have more to loose than any of us here.
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empoweoqwj
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January 09, 2014, 10:52:47 AM |
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About 80%. Other is gold and cash. Always have an emergency fund in forms of gold and/or cash.
Whatever spare cash I have I buy tinned bins and blankets just in case bitcoin crashes to zero overnight ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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billyjoeallen
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January 09, 2014, 02:12:44 PM |
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I'm at 102% if you factor in debt. I know that's ridiculously high, but I just can't sell in a down market. I rode out two crashes, one more rally and I'll sell enough to drop below 90%. I can wait three months before needing to get a second job and I'll wait two years before capitulating and cutting my losses. Hey, the profit is secondary. I wanna see this thing succeed.
Profit might indeed be secondary. But a big loss certainly wouldn't be .... hope none of us face that situation !! depends on what you call a loss. I had no savings before I bought BTC at around $10 so it would have to fall back into that range before I'd call bitcoin a poor savings vehicle.
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insert coin here: Dash XfXZL8WL18zzNhaAqWqEziX2bUvyJbrC8s
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc
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Paashaas
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January 09, 2014, 03:15:30 PM |
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40% Bitcoin 60% fiat atm feeling comfort with that however, i will buy more to 60% Bitcoin ore when its passes 1k then i dont buy anymore. Bitcoin is still fresh and there is much growth to come with all those good news. The odds are really high to make a nice profit over 3-5 years hodling.
I got no wife/kids who spend my money so over some years i hope i can atleast pay a huge chunk of a new mortgage.
Also i got 1 Bitcoin to spend on pizza ore whatever over time, the rest i keep them longterm.
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qfdev
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January 09, 2014, 05:04:02 PM |
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I have 80% of my Grandma's savings in Bitcoin, we're doing good so far ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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