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Author Topic: Losing your life savings on BTC? Hurting everyday?  (Read 530 times)
darkangelosme
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June 25, 2018, 03:30:29 AM
 #21

People buy lottery ticket all the time, that’s total fine, spending $5 here and there for fun. But if you mortgage your house to buy lottery tickets you are crazy.

Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.

If you spent your life savings buy Bitcoin, get out now while you still have something left! New crypto currencies are coming to replace BTC. Stop torment yourself everyday watching your money goes into red day after day after weeks after months.... you will spend your retirement working at McDonald’s trying to earn it back!
Maybe you're right sooner or later other cryptocurrencies will replace the lead of bitcoin someday, but it seems like and i feel you are only here to spread some fud  Grin, you are not concern at all in my opinion.

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June 25, 2018, 03:34:10 AM
 #22

If you know and you don’t have peace investing anymore then don’t go spend your money in Bitcoin rather spread to altcoins there a lot of altcoins now going out from the market. Choose carefully and search background if those coins are going to be stable someday. Instead of investing everything in Bitcoin which is dropping but of course we don’t know when will rise again. Be patient instead.

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June 25, 2018, 06:34:23 AM
 #23

I totally agree with you that we should spend all your saving asset for Bitcoin. That is a gambling. but if you can spend time to research and trade BTC and altcoins, you will be richer.

                                                                               
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June 25, 2018, 06:43:00 AM
 #24

Bitcoin will not likely  be replaced by altcoins or other cryptos.rightly noted, crypto investments carry significant  risk and we should  not use all our savings
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June 25, 2018, 06:43:51 AM
 #25

You had to buy what you can lose - as always - do not make that mistake again otherwise you'll get hurt

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June 25, 2018, 08:39:43 AM
 #26

People buy lottery ticket all the time, that’s total fine, spending $5 here and there for fun. But if you mortgage your house to buy lottery tickets you are crazy.

Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.

If you spent your life savings buy Bitcoin, get out now while you still have something left! New crypto currencies are coming to replace BTC. Stop torment yourself everyday watching your money goes into red day after day after weeks after months.... you will spend your retirement working at McDonald’s trying to earn it back!
Actually, every person has a different believes and prescription in life. We have different set of minds therefore we our own decisions making so I think encouraging others to finally stop involving to bitcoin is depends in ourselves. Most of us even they are experiencing downfall  they still believe and strong foundation of trust to btc and its because they are proven and tested it. In fact, in a long period of this system existency as of now it's still remain strong and leading cryptocurrency for all times so I think that we are not in good position to tell to stop involving to it because I believe that the time only can tells.

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June 25, 2018, 08:44:38 AM
 #27

People buy lottery ticket all the time, that’s total fine, spending $5 here and there for fun. But if you mortgage your house to buy lottery tickets you are crazy.

Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.

If you spent your life savings buy Bitcoin, get out now while you still have something left! New crypto currencies are coming to replace BTC. Stop torment yourself everyday watching your money goes into red day after day after weeks after months.... you will spend your retirement working at McDonald’s trying to earn it back!

Thats not a fair comparison. When people buy a lottery ticket, it has their expected negative ROI written on the back side (or on sellers web page). In case of Bitcoin people think, they invest into high tech future solution. That is called a fraud.
etron
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June 25, 2018, 08:52:17 AM
 #28

it's a big mistake you make for gambling because in gambling if we're not lucky then we'll go bankrupt, better in this investment we do for our future and find a profitable investment place is not a disadvantage.
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June 25, 2018, 08:53:21 AM
 #29

People buy lottery ticket all the time, that’s total fine, spending $5 here and there for fun. But if you mortgage your house to buy lottery tickets you are crazy.

Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.

if you think these two are the same thing then you are the idiot!

of course there is no argument that investing your whole life savings in bitcoin is a terrible idea but it is nothing like buying a lottery ticket. it is simply because of chances.
when you buy a lottery ticket first of all you have no way of speculating whether you will win or not and second you have a minuscule chance of winning.
on the other hand when you invest in bitcoin you do have a way of speculating whether you will make a profit (win) or not and also your chances are not at all small.

I cannot afford to loss my life just in gambling we are here to adopt new technologies even if I don't have profit but still yet I can earned knowledge on how to deals with businesses this is a big opportunity that BTC  gives us.  Don't feels hurt we are only assuming to be rich a good ambition of a good human.
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June 25, 2018, 08:56:49 AM
 #30

I think you can't compare cryptocurrencies with playing the lottery. The latter is pure luck, whereas with cryptocurrencies we're talking about an emerging industry, which created a totally new asset class and gave rise to a new market. If you believe in the tech, then there's nothing to fear. The problem with most people is that they only think short-term gains instead of long-term investments...
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June 25, 2018, 08:58:24 AM
 #31

Of course, if you lose it hurts. Mostly if you bought a token when it was high then it really hurts.
But it can recover in the next quarter. Mostly the price increases on that time

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June 25, 2018, 08:59:43 AM
 #32

People buy lottery ticket all the time, that’s total fine, spending $5 here and there for fun. But if you mortgage your house to buy lottery tickets you are crazy.

Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.

It will never drop below $100. If it did it would be game over and pointless to buy them anyways. Bitcoin will be the reserve currency of the cryptocurrency market. There is no point for it not to be.

How many people here lost big on BTC? Stop the madness now while you still can! Russian government will soon flood market with crypto currencies

I doubt this, how do you know what the Russian government will do? Who cares anyway? Let them flood the market with cryptocurrencies. There are already thousands of them, what will a few thousand more do? This has nothing to do with Bitcoin. Bitcoin will always have a fixed supply, there is nothing any government can do to change that.
It can always drop to below $100, and beleive me people will still like to buy it and it will recover, not soon but at some point of time it will.

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June 25, 2018, 09:00:58 AM
 #33


if you think these two are the same thing then you are the idiot!

of course there is no argument that investing your whole life savings in bitcoin is a terrible idea but it is nothing like buying a lottery ticket. it is simply because of chances.
when you buy a lottery ticket first of all you have no way of speculating whether you will win or not and second you have a minuscule chance of winning.
on the other hand when you invest in bitcoin you do have a way of speculating whether you will make a profit (win) or not and also your chances are not at all small.

If we start to calculate, what are the odds of actually getting a coin via mining, You would find it VERY similar to lottery winning. If we want to look at Your expenses on electricity and hardware as a lottery ticket, the similarity even grows.

Its is actually written here very well: https://www.quora.com/What-is-the-probability-of-mining-a-bitcoin-over-one-minute-time-period-using-a-1-Gh-s-rig

I of course doubt, that You are able to understand the math at this level...
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June 25, 2018, 09:03:21 AM
 #34

As a rule of thumb,  invest in cryptocurrency what you can afford to lose. This bearish market should be considered as a good opportunity in buying more btc and altcoins,  then hodl for the time being until the market could recover from it's dip. Don't worry much on the dip as this market will normalize in due time.

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June 25, 2018, 09:14:46 AM
 #35

People buy lottery ticket all the time, that’s total fine, spending $5 here and there for fun. But if you mortgage your house to buy lottery tickets you are crazy.

Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.

If you spent your life savings buy Bitcoin, get out now while you still have something left! New crypto currencies are coming to replace BTC. Stop torment yourself everyday watching your money goes into red day after day after weeks after months.... you will spend your retirement working at McDonald’s trying to earn it back!
To be on the safer side you have to always have to invest part of your income which you can afford to loose. But buying Bitcoin and holding is an investment venture and not lottery so don't compare it to lottery. You must try to understand the investment of Bitcoin and know how to control your emotions  if you want to invest in Cryptos. So that you won't get emotional breakdowns.
Bitcoin investment is very profitable especially when done right, that is long term investment.
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June 25, 2018, 09:20:03 AM
 #36

OP seriously, you should stop causing FUD and panic to those who wants to invest and HODL bitcoin. If you really want to sell of your coins, you can gladly do so and stop putting or forcing people into your decision. And for those thinking that bitcoin will go below the price of $100; it really sounds ridiculous stating that though. Bitcoin price may go below $5k but not below $100.
Yep exactly. I really don't think the price of bitcoin can fall to $100k. this is a way too low a target the OP has set for the price of the bitcoin. And there is no need to panic because of this stupid rumors that have been spread by the peeps around on this forum. If the price is low now, you must use your brains, instead of tormenting over the situation, you must try to learn to make best out of this situation. This is the time when you can buy new coins and HODL in order to make long term gains in the future. N doubt this era in 2k18 has been the most distressing time for the bitcoin community, but never mind, tough times also have a lot to teach!!

  

 
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June 25, 2018, 09:29:11 AM
 #37

Why are you so certain that something is going to replace Bitcoin? Why would any cryptocurrency replace it? So far no one was able to create cryptocurrency which would overcome Bitcoin. I don't mind seeing a lot of red on the market. How much money have you lost so far? It looks like because of your poor trading skills you are now blaming Bitcoin.

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June 25, 2018, 09:31:42 AM
 #38

what comes to people for them to sell their life belongings for bitcoins which is highly risk investment without any certainty?. It is better to trade in bitcoins and make profit from the rise and fall of it price than holdl.

HODL is the answer yeah, but OP guy said true, soon will be new currencies that will kill bitcoin, blockchain is great technology, BITCOIN ISNT!

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June 25, 2018, 09:39:53 AM
 #39

Patience and risk diversification are very important in the cryptocurrency market. This must be understood. If you do not have time to understand this yourself, it's better to transfer your investments to professionals.

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June 25, 2018, 09:51:18 AM
 #40

People buy lottery ticket all the time, that’s total fine, spending $5 here and there for fun. But if you mortgage your house to buy lottery tickets you are crazy.

Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.

If you spent your life savings buy Bitcoin, get out now while you still have something left! New crypto currencies are coming to replace BTC. Stop torment yourself everyday watching your money goes into red day after day after weeks after months.... you will spend your retirement working at McDonald’s trying to earn it back!

I invest on btc the amount which I can afford to lose so even the price is keep on decreasing I don't give a damn on it. But still i don't lose my hope that it will going to bounce back very soon.
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