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Author Topic: Buy now or wait ? $41,000 to invest in bitcoins and litecoins  (Read 10241 times)
DieJohnny
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January 23, 2014, 11:08:16 PM
 #21

you should definitely keep some in liquid cash that you can access right away...you don't want to tie up all your money in crypto.  Yes, I know you can cash out pretty quickly if need be, but it is not yet the same as having cash on hand or in a checking account.   Diversification is key...

Depends on your comfort level.

Diversifying gets you 70k upside, or 20k if everything tanks, a nice little hedge for the long term investor that likes to not look at his computer at midnight.
 
letting it ride gets you 400k upside or 0 if your choice tanks, the choice of someone that may be tired of the long march towards his age 65, 1.2 million savings target.

I have some existing traditional investments that have got me exactly what you would expect over the last ten years. Average returns and an average progress towards retirement.

But in the past six months I am all in with new investment dollars into crypto. I am not going to stand by like I did with Apple, Netflix, Google and other great investments, and watch them all do great in my 2% of ownership diversified holding.

I am riding Bitcoin or other Cryptos (DOGE Smiley until tehy go to the moon or until the go to zero, one or the other. In two years, I will either be in the same place I am now, which is 20 years from retirement, or my life will be totally different. I do not see another opportunity like Bitcoin, and haven't as long as I can remember.

Diversification is for those that are planning to retire when they are 65, I have never met a single average guy that paid for their house in a year with a diversification strategy. Whether it was a business they built, or an investment strategy they chased, they were all in. Just saying.









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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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pungopete468
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January 23, 2014, 11:24:19 PM
 #22

you should definitely keep some in liquid cash that you can access right away...you don't want to tie up all your money in crypto.  Yes, I know you can cash out pretty quickly if need be, but it is not yet the same as having cash on hand or in a checking account.   Diversification is key...

Depends on your comfort level.

Diversifying gets you 70k upside, or 20k if everything tanks, a nice little hedge for the long term investor that likes to not look at his computer at midnight.
 
letting it ride gets you 400k upside or 0 if your choice tanks, the choice of someone that may be tired of the long march towards his age 65, 1.2 million savings target.

I have some existing traditional investments that have got me exactly what you would expect over the last ten years. Average returns and an average progress towards retirement.

But in the past six months I am all in with new investment dollars into crypto. I am not going to stand by like I did with Apple, Netflix, Google and other great investments, and watch them all do great in my 2% of ownership diversified holding.

I am riding Bitcoin or other Cryptos (DOGE Smiley until tehy go to the moon or until the go to zero, one or the other. In two years, I will either be in the same place I am now, which is 20 years from retirement, or my life will be totally different. I do not see another opportunity like Bitcoin, and haven't as long as I can remember.

Diversification is for those that are planning to retire when they are 65, I have never met a single average guy that paid for their house in a year with a diversification strategy. Whether it was a business they built, or an investment strategy they chased, they were all in. Just saying.

I love it. I share this enthusiasm for the great opportunity we have before us.

OP you will have to decide for yourself.

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bitcoinwebdesigner
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January 23, 2014, 11:27:02 PM
Last edit: January 24, 2014, 11:36:38 PM by bitcoinwebdesigner
 #23

Ever heard of the saying, Don't put all your eggs in 1 basket.
pungopete468
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January 23, 2014, 11:28:37 PM
 #24

Ever heard of the saying, Don't put all your money in 1 basket.

I thought it was eggs... Huh

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sakkosekk
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January 24, 2014, 01:13:06 AM
 #25

Ever heard of the saying, Don't put all your money in 1 basket.

I thought it was eggs... Huh
'

It is Grin
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January 24, 2014, 05:48:00 PM
 #26


Diversifying gets you 70k upside, or 20k if everything tanks, a nice little hedge for the long term investor that likes to not look at his computer at midnight.
 
letting it ride gets you 400k upside or 0 if your choice tanks, the choice of someone that may be tired of the long march towards his age 65, 1.2 million savings target.

I have some existing traditional investments that have got me exactly what you would expect over the last ten years. Average returns and an average progress towards retirement.

But in the past six months I am all in with new investment dollars into crypto. I am not going to stand by like I did with Apple, Netflix, Google and other great investments, and watch them all do great in my 2% of ownership diversified holding.

I am riding Bitcoin or other Cryptos (DOGE Smiley until tehy go to the moon or until the go to zero, one or the other. In two years, I will either be in the same place I am now, which is 20 years from retirement, or my life will be totally different. I do not see another opportunity like Bitcoin, and haven't as long as I can remember.

Diversification is for those that are planning to retire when they are 65, I have never met a single average guy that paid for their house in a year with a diversification strategy. Whether it was a business they built, or an investment strategy they chased, they were all in. Just saying.

Elegant  Smiley

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January 24, 2014, 06:00:29 PM
 #27

I would go with one ASIC mined coin, one gpu mined coin, and one CPU mined coin. Any of the three families could take off.

So get 40% BTC
30% ltc (or doge seems to be popular these days
30% quarkcoin or fairquark

I diversify in this manner at least, although tending towards btc alternatives more so.

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January 24, 2014, 06:39:39 PM
 #28

I would most certainly wait
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January 25, 2014, 03:46:32 AM
 #29

Learn enough about it so that you're not asking strangers (with urgency) on what to do with your money.
Buy some to hold and some to transact with so that you get some real world experience before going "all in" (or such a high amount in).
Get some financial advice, books, courses, anything to help you in making informed decisions.

Wish you well and prosperity.

There 'used' to be more truth in forums than anywhere else.  Twitter:  @cryptobitchicks  Spock: "I am expressing multiple attitudes simultaneously. To which are you referring?"  INTJ-A
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January 25, 2014, 09:58:02 PM
 #30

How much can you afford to lose?

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January 26, 2014, 07:19:43 PM
 #31

Don't invest in altcoins that aren't really innovative, all of them will become worthless. We don't need Dogecoin or Litecoin when we already have Bitcoin. The only one with potential of being worth a lot is Nxt, if PoS is really as secure and efficient as it seems.
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January 26, 2014, 07:26:36 PM
 #32

How much can you afford to lose?



you definitely don't want to be looking at it this way. Yes, every investment has the potential of going south, but if you are going into it with the mentality that you are going to lose money, you would be better off investing in CDs or something with guaranteed returns (although the returns in a year are about the amount of returns you could get in less than a day with crytpos
bitcoinlitcoinbtcltc
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January 27, 2014, 03:42:51 AM
 #33

Bitcoin is going to crash. Investing now, is signing your own death sentence mine friend.
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January 27, 2014, 03:47:10 AM
 #34


Ripple: First centralized coin, funded by Google. Very cheap and a promising future.
DOGE: Didn't like it at first, but this coin has proven itself to be good, buy some while it's cheap.

Ripple is not "funded by Google" and Doge hasnt been "proven" to be anything its barely a month old
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January 27, 2014, 08:16:38 AM
 #35


Ripple: First centralized coin, funded by Google. Very cheap and a promising future.
DOGE: Didn't like it at first, but this coin has proven itself to be good, buy some while it's cheap.

Ripple is not "funded by Google" and Doge hasnt been "proven" to be anything its barely a month old

Nobody will remember Dogecoin in a year.
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January 27, 2014, 11:36:01 AM
 #36

Don't listen to the sheep (no offense baaaahhhh) about putting all your money into Doge or Litecoin or spread your risk by buying 1 GPU coin, 1 CPU coin and 1 ASIC coin. There is no logical basis for any of that advice and comes from people that don't understand Bitcoin well enough except to provide heresay/rumour/snake oil advice on Bitcoin competitors (all the ALTs).

Also don't listen to the hype about moving your entire life into crypto currencies either as that would not be wise considering that the vast majority of the planet deals with fiat currencies (as imperfect as they are). There are definitely SOME people that are living entirely in this alternative universe of crypto currencies (like Bitcoin Jesus), but also understand that they probably watch Bitcoin value on a daily basis and have cold sweats when a major exchange is ready to implode (like MtGox for example). BTC value is inherently volatile, both in it's design and because it can't be regulated.

If you are prepared to spend 40k in this new frontier, then ask yourself if you are also prepared to spend the equivalent amount in gold or silver, or rubles, or yen, or any other globally accepted trading medium. Why not buy Coca cola stocks or Walmart or maybe buy a few shares of Warren Buffet's stocks? Or how about buy a piece of land in your city and speculate? Or buy a pre-sale apartment and sell for profit? Or how about invest in a startup? Or invest in your own education and earn more money? Or .. well the list goes on and on.

Bitcoin is still valued AGAINST fiats, and NOT the other way around (ie: USD are not valued in Bitcoins YET) so that should tell you that a tectonic global shift hasn't yet occurred in global Bitcoin awareness.
BUUUUTTT.. and it's a big one, even though it's VERY early days for Bitcoin, it's already at around 900 USD now.. and that's with the early adopters, geeks, crypto enthusiasts, and miners.  Has that price been artificially inflated? Is the whole Bitcoin movement run by hackers and coders and greasy haired bankers?

Many people don't know what to do. Part of the reason for this hesitance is that Bitcoin is technically more complex then say USD.  The basis for the currency (if we can call it that) is fundamentally different from everything else we have ever used before. It can't be centrally controlled, it can't be faked, it can't be double spent, and the entire spending ledger itself is public domain. It's almost as if someone took the central bank of an entire nation and posted every transaction for public scrutiny (a wet dream some still think will happen)

If all you want to do is grow your wealth, then it's probably worth listening to the 2nd richest man in the world who grew his own fortunes from scratch (so MAAAYYBEE he has something good to say? duh). On Warren Buffet's Investment checklist: Don't invest in something you don't understand.

If you are here asking for what to do with your 41k and if you should invest your money in Bitcoins (or whatever), then it's obvious you don't understand the implications of buying Bitcoins yet, so buy only as much as you would be willing to purchase in USD and freely give away to anyone on this forum (as a gift for example) and then keep researching.

Oh, also don't take my advice cause I'm a sheep too

BTC 1juX6F2mgRCMS6meMmH8yjtDXD16GwVfm
DOGE DFznCPX2usMnxzVto2hmcMckhPGyXWVXrZ
RDD RcCqrHqmVh1jF197psMBiYPGdtnoQwREVQ
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January 27, 2014, 11:41:38 AM
 #37


Ripple: First centralized coin, funded by Google. Very cheap and a promising future.
DOGE: Didn't like it at first, but this coin has proven itself to be good, buy some while it's cheap.

Ripple is not "funded by Google" and Doge hasnt been "proven" to be anything its barely a month old

Where is your source? Google did invest in Ripple, they funded the company behind the distribution exchange.
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January 27, 2014, 11:44:16 AM
 #38


Ripple: First centralized coin, funded by Google. Very cheap and a promising future.
DOGE: Didn't like it at first, but this coin has proven itself to be good, buy some while it's cheap.

Ripple is not "funded by Google" and Doge hasnt been "proven" to be anything its barely a month old

Where is your source? Google did invest in Ripple, it's a fact...

I don't think Google knows they did

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January 27, 2014, 12:40:14 PM
 #39

Invest now into bitcoin, litecoin, primecoin and dogecoin......... but be prepare to average down...
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January 27, 2014, 04:14:25 PM
 #40

I'd do a 10 week Dollar cost averaging and put everything in Bitcoin.
Not saying you should, just what I would do Smiley

Proud ASIC miner and long term Bitcoin investor
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