Sutters Mill
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July 10, 2019, 10:29:54 AM |
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Hi guys. I have a friend who's parents are looking for alternatives and want to invest money into something other than their IRA account. They have a fixed IRA with about $100K, but they are unsatisfied with the miserable amount of interest they're getting. I mentioned to them that bitcoin is a possible alternative and one they can look into. Do you agree? Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)?
Is bitcoin reliable or stable? Hell no. Is there the possibility to make a very decent return from bitcoin within 5-10 years? Hell yes. However, nothing is guaranteed and it's very risky so be advised. The potential for huge gains is there but also huge loses. Personally I think bitcoin will be worth a lot more than it is right now within 5-10 years, but I also expect it to go through several ups and downs also with huge crashes so it will also be worth much less than it is right now, but hopefully the new lows are always gradually getting higher and higher so there's gradual growth. Before you or they invest in bitcoin look at the performance over the past five years especially the peaks and bubbles. It wasn't that long ago that bitcoin was $1k and then it rallied all the way up to $20k before the bubble burst and it settled back down to about $5k or whatever it was and now it's back to $10k+. Those sorts of bubbles will probably happen again so be aware of that, but there is certainly money to be made in riding them out and I certainly think even long term (5-10 years) bitcoin could be worth multiples of what it is now but again nothing is guaranteed and I could be completely wrong. As people usually say, don't put all your eggs in one basket and don't invest more than you can afford to lose, but also remember you could lose everything or a good chunk of your initial investment. Have they thought about investing in property to rent out to people. That's usually a safe investment with a guaranteed income from tenants and it's always better than what the banks will give you and at least you have something physical of intrinsic value to show for it whatever happens with the markets.
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Johnzky
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July 10, 2019, 03:28:43 PM |
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Hi guys. I have a friend who's parents are looking for alternatives and want to invest money into something other than their IRA account. They have a fixed IRA with about $100K, but they are unsatisfied with the miserable amount of interest they're getting. I mentioned to them that bitcoin is a possible alternative and one they can look into. Do you agree? Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)? Is it safe to assume the only direction(barring a few dips here and there) bitcoin will eventually go from here is up? Do you foresee it going below $10K, or even $9K ever again? Is it even possible to see the lows we saw a few months ago(ie $3500) ever again?
Please give me your thoughts. IRA or Bitcoin for the long term?
If you will let them learn cryptocurrency first and become knowledgeable about everything from profiteering to losses?then I think you are in a good shot Don’t let people invest in crypto just to gain profit instead make them love bitcoin fist before thinking about profiteering because this is about technology and not just for earnings And having $100,000 for investing is good amount of money and not easy to risk for something that you don’t really understand
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Fundamentals Of
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July 11, 2019, 01:45:43 AM |
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To make it safest, advise them to set aside a moderate amount for crypto investment, primarily Bitcoin of course. It is always best to invest in different things, the old advice not to put all your eggs in one basket kind of thing. Bitcoin investment is best in terms of rising value. You cannot expect investments to simply double in so quick a time as Bitcoin.
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LogitechMouse
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July 11, 2019, 03:04:45 AM |
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I can say my opinion since Bitcoin for me is a reliable investment for the long run.
Since you are saying 5-10 years investment, I think investing in Bitcoin is a better choice but as an investor you must know that you need to diversify always your capital. Aside from investing in crypto, try to invest in other investments like real estate, stocks etc. One advice, just buy and hold Bitcoin and don't get affected on the news that are spreading across the Internet.
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Periodik
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August 08, 2019, 02:52:52 AM |
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Bitcoin is reliable in the term that you mentioned, that is, 5 to 10 years. If you lower that in say 1 or 2 years, it may not be. It may experience a serious dump and need a year or two to fully recover. In terms of stability, I'm afraid Bitcoin does not have that character. But again, in the next 5 to 10 years, I am sure you will already see a considerable growth of your investment value.
Whether it could fall again to $9,000 or $3,500, the possibility in this unpredictable market is unlimited so it could. We just hope it won't. And if worse comes to worse and it indeed falls on these prices, just be patient and hodl.
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vintages
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August 08, 2019, 05:14:32 AM |
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Is it even possible to see the lows we saw a few months ago(ie $3500) ever again?
Please give me your thoughts. IRA or Bitcoin for the long term?
This is very much possible because the market direction can not be determined most times. Left for investors and traders they will put in everything to prevent it, yet it is very much behold them expect for the whales. Please give me your thoughts. IRA or Bitcoin for the long term?
I suggest your friend should leave the fund they have in IRA, they may not be getting much interest at least the money has zero chances of dipping. He should invest in Bitcoin with spare funds and then be ready for anything in the future. In the future, Bitcoin price may triple in price or even reduce more than the present price.
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nankers
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August 08, 2019, 06:29:50 AM |
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Hi guys. I have a friend who's parents are looking for alternatives and want to invest money into something other than their IRA account. They have a fixed IRA with about $100K, but they are unsatisfied with the miserable amount of interest they're getting. I mentioned to them that bitcoin is a possible alternative and one they can look into. Do you agree? Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)? Is it safe to assume the only direction(barring a few dips here and there) bitcoin will eventually go from here is up? Do you foresee it going below $10K, or even $9K ever again? Is it even possible to see the lows we saw a few months ago(ie $3500) ever again?
Please give me your thoughts. IRA or Bitcoin for the long term?
just like members here say, bitcoin is not stable and very risky if you don't have knowledge. I suggest if you still choose bitcoin as a long-term investment, it would be good for you to learn and find out various information about bitcoin. just a little bit of information that you can tell your friend's parents, all the news about bitcoin (good or bad) in various countries, slightly affects the bitcoin price itself
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stadus
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August 08, 2019, 06:43:02 AM |
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It's hard to tell but suggest you let them study the market first and they should understand that bitcoin is considered as a high risk investment.
If you will ask me, I believe the future of bitcoin is good and in 5 to 10 years of holding, its expected that the value will rise since adoption would certainly increase due to the entrance of institutional money.
But we need to suggest to them that they dont think twice to invest in bitcoin, even if btc has risky. Someday you will not regret it, because btc gives a high profit, for just only holding it and spend more patience to wait, because someday they will getting better profit. Even if others says that its not stable, but dont worry about on btc. When you suggest, it's also important to tell them the risk of investing, true, bitcoin is a good investment but you can't deny there is no assurance that it's growth will continue, and that's what the risk stands for in crypto investing.
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Prateek_sharma
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August 08, 2019, 09:05:26 AM |
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Hi guys. I have a friend who's parents are looking for alternatives and want to invest money into something other than their IRA account. They have a fixed IRA with about $100K, but they are unsatisfied with the miserable amount of interest they're getting. I mentioned to them that bitcoin is a possible alternative and one they can look into. Do you agree? Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)? Is it safe to assume the only direction(barring a few dips here and there) bitcoin will eventually go from here is up? Do you foresee it going below $10K, or even $9K ever again? Is it even possible to see the lows we saw a few months ago(ie $3500) ever again?
Please give me your thoughts. IRA or Bitcoin for the long term?
Yeah, bitcoin is one of most popular crypto in the market, investment in bitcoin will give a better return on investment.
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Darker45
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August 08, 2019, 09:36:07 AM |
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Of course, you may suggest Bitcoin to your friend. But do not ever forget to emphasize the need to learn more about it first before finally deciding to invest. In fact, suggest Bitcoin to your friend not to invest on it right away but to study it first. Let him decide later on after knowing enough of what Bitcoin is, the advantages and disadvantages of investing into it, as well as the possibilities in terms of the rise and fall of its price. Also, it is best to retain the IRA investment. Diversity of investments is always the best way to go.
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CBANX Ltd.
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August 08, 2019, 10:01:27 AM |
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Reliable and Stable are two different things and like us, all BTC is a highly volatile digital asset so how it can be stable? It has to move gradually or rapidly and yes! It is reliable for those who keep themselves update with the market and follow the bullish move and no bearish one.
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DoublerHunter
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August 08, 2019, 10:44:24 AM |
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First, this not stable investment that they should know. Maybe they will earn a lot but there are some circumstances that they also got lost. Introducing bitcoin as good in investment is not bad but first, let them know how bitcoin works and how volatile it is because the word risk is always the in investing bitcoin and this is not for short term investment. After knowing how the technology works behind the bitcoin currency then, you are safe of possible blaming when they get the lost or good thing if they get earned a profit.
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thunderbitz2717
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August 08, 2019, 11:59:21 AM |
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In terms of investment, yes! bitcoin was a good one for this things. Now in terms of reliable, it is also yes! because if it is not reliable why would most merchants or company will accept it as mode of payment to their business if it is not reliable, and why some country regulated it to their own territory to become secondary or alternative currency?
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dat.ho12492
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August 08, 2019, 02:57:38 PM |
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This has tto be define by individual based on their perspectives. Bitcoin is a risks investment and not stable investment but there are ways to minimize your risk while you do your investment, and also, if you want o invest in Bitcoin ensure to invest what you can afford to lose. The reward of long-term investment is better than short-term.
Well, when people become serious about investment, the general view that people can realize that no investment is reliable, it always has certain risk numbers, and we can only accepted, too perfect is an impossible thing, and in addition, if we take the time to read more about bitcoin, it's not difficult to determine that it's an unstable investment. It sounds very dangerous but we should know the value of these investments, profit from this category can always change a person's life, poverty can become rich quickly, so, just to be reasonably safe, people will participate in bitcoin regardless of its hidden risks.
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Coyster
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August 08, 2019, 08:49:00 PM |
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Bitcoin for long-term investment will be better as long as investors, the parents of your friend in this case, can wait for a long period of time and will not panic when they see a fall in price
And there is every tendency that they will do that, the more reason why OP shouldnt go all out in just telling them to invest, but should firstly teach them what the network is all about, bringing to their knowledge it's good and also bad sides. If one is firstly educated on the intricacies of the bitcoin network before he or she goes into investing, they tend to do better and are less likely to be affected by FUD or being rushed into panic sales.
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nydiacaskey01
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August 08, 2019, 09:42:23 PM |
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Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)? Is it safe to assume the only direction(barring a few dips here and there) bitcoin will eventually go from here is up?
If you are going to ask a banker, they will say Bitcoin is a high risk investment because of course those guys always wants to make sure their investments are safe if ever they put the pool of money they hold somewhere, but they will ask you first what kind of investor are you, they will classify if you are a moderate or risk taker, risk takers are those who are open to investments that price changes a lot, that's where Bitcoin comes in however, in terms of direction, we can say 100% that it will continue to go up, no one can. All we can do is speculate.
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fullhdpixel
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August 09, 2019, 10:08:00 AM |
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Please give me your thoughts. IRA or Bitcoin for the long term?
If you are not new to bitcoin, you would realize that bitcoin price fluctuates a lot because of its volatility and no one can guarantee the status of what bitcoin would be when they need the money, it could be in the bear market then, so 5 to 10 years is a very long time, although many of us believe that bitcoin may have even reached $150k per one by then, but that I still based on speculation. If I were you, what I would have them do is to put the money in bitcoin right now before the bull run start, which I can guarantee you that within the next 1 or 2 years, we will have bitcoin bull run in that market, and by the time, it peak, their investment would have double, they can remove their capital then, and then leave the profit for the 5 to 10 years they desire while they use the capital for an Investment outside crypto.
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deisik
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August 09, 2019, 10:32:08 AM |
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Hi guys. I have a friend who's parents are looking for alternatives and want to invest money into something other than their IRA account. They have a fixed IRA with about $100K, but they are unsatisfied with the miserable amount of interest they're getting. I mentioned to them that bitcoin is a possible alternative and one they can look into It would have been better if you made them aware of this alternative indirectly What I mean to say is that if they invest in Bitcoin their lifetime savings (or some part thereof) and it doesn't work out as expected, you may be the one who is to be blamed for their failure. And it won't really matter if it might be entirely their fault (like "do your own due diligence in all cases") Regarding Bitcoin as a reliable and stable investment for the long term, the answer is a big fat no. No cryptocurrency is a reliable investment since there is virtually no real value behind it which would prop up its price no matter the circumstance. In simple terms, don't invest your lifetime savings in purely speculative assets
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gangem07
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August 10, 2019, 08:49:10 AM |
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Yes,Bitcoin is a good investment all the way but the question is your friend parents is ready to take the risks?The market is unpredictable bearish and bull market happens maybe 50% of their capital must invest in bitcoin and the other 50% in IRA or other alts.
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pragna
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August 10, 2019, 10:20:04 AM |
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Hi guys. I have a friend who's parents are looking for alternatives and want to invest money into something other than their IRA account. They have a fixed IRA with about $100K, but they are unsatisfied with the miserable amount of interest they're getting. I mentioned to them that bitcoin is a possible alternative and one they can look into. Do you agree? Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)? Is it safe to assume the only direction(barring a few dips here and there) bitcoin will eventually go from here is up? Do you foresee it going below $10K, or even $9K ever again? Is it even possible to see the lows we saw a few months ago(ie $3500) ever again?
Please give me your thoughts. IRA or Bitcoin for the long term?
Still i love BTC and will carry this love also to BTC because it have given a good feedback when i engaged into it. But i can not suggest you to invest here as market is too much volatile and there is no controlling body in the world that people can complain about market down and up. So that last year market fall into 4k$ from 20k$. But matter of hope that market is going up again and if you gonna invest you have take risk in your own way. I may wish you for batter days. best of luck.
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