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Author Topic: Okay. Billionaire investor says Millennials should invest in bitcoin. So?  (Read 718 times)
nanswook
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January 24, 2020, 09:09:09 AM
 #1




What do you guys think?

I am late 20s. So i think i am a millennial.

But only holding half BTC, should i go more for BTC?
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January 24, 2020, 09:18:27 AM
Merited by The Pharmacist (2), vapourminer (1), rijaljun (1), naikturun (1)
 #2

Let me guess, you're referring to Tim Draper?

Here's the thing. What you should invest in, and how much you should invest, is different for every single person.

For example. An 18 year old dude with zero responsibilities can go as far as investing 80% of his money, simply because he can afford to lose all that money as he might still be living in his parent's basement, and maybe because his total wealth isn't worth that much anyway.

At the same time, it wouldn't really be wise for lets say- a 26 year old dude in the United States, to put majority of his money on bitcoin if he has responsibilities like paying rent, paying for student loans, savings, and such. As bitcoin dropping in price would put the 26 year old dude in a bad financial position.

tldr; it completely depends on your circumstances.

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January 24, 2020, 09:20:21 AM
 #3




What do you guys think?

I am late 20s. So i think i am a millennial.

But only holding half BTC, should i go more for BTC?
if you have money you can buy it no one forbids you, so also in my country young entrepreneurs are invited to invest, so start investing with what you believe and research, if you have done deeper research on bitcoin and invest for it, you can add a few other bitcoins in the wallet
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January 24, 2020, 09:42:28 AM
Merited by LFC_Bitcoin (1)
 #4

Just because a billionaire said that millennials should invest in Bitcoin, you will also invest. There's nothing wrong investing in Bitcoin but it's not about who said it. Invest in Bitcoin because you want to, not just because someone said it.
While the amount of Bitcoin you are holding is up to your decision whether you'll invest more or not. If you still have enough money then you can choose to invest more.
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January 24, 2020, 10:30:48 AM
 #5


But only holding half BTC, should i go more for BTC?
Holding more bitcoin because why not? Yeah?
What's stopping you? If you think you most afford it then go. Perhaps by now you knew the risk and consequences along with it? If not, then you should.

On the contrary, don't believe in everything you hear and read in social media. Not because this is the trend then you'll just impulsively invest without any knowledge. Invest when you can and ready.

Regards.

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January 24, 2020, 10:36:50 AM
 #6

If you can afford more bitcoin then you can buy more. But keep in mind invest those money that you can afford to loss.Don’t invest all off your savings money in bitcoin.       
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January 24, 2020, 10:43:39 AM
 #7

What do you guys think?

I am late 20s. So i think i am a millennial.

But only holding half BTC, should i go more for BTC?
If you don't mind the risk that comes with it, go for it. Make sure your life won't be ruined if you lost all that money. It's unlikely but that the mindset that you should have when you're investing in a risky asset like Bitcoin. I myself store most of my wealth in Bitcoin. It's not much. Some people might call that very bad portfolio management but heck I believe in it. Return have been great so far because I bought mostly during the first half of last year.

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January 24, 2020, 10:44:31 AM
 #8

So this completely depens on your budget i would consider half a bitcoin for the average person as more than enough. SO there are around 7 billion people on earth and only 21 Bitcoins will be avaiable. Therefore if everyone wants a btc, you should be in a very comfortable position with you half bitcoin

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January 24, 2020, 10:48:25 AM
 #9

I think you should learn firstly how can you invest. Investment has to based on savings. No one should invest from needs money. So we have to pay something in life. We can't buy anything with our all money.
It would completely meaningless. Think about it, do you think to buy hamburger with all your money? Or shoes? No, no one does that. So it is very simple, you shouldn't also buy cryptocurrencies with all your money. You shouldn't buy same cryptoccurrency (inc. Bitcoin) with all your money also. You can split your investment with your favorites.

Exchange with other currencies (Euro, Dollar, GBP,...), gold, silver, house, car(s), stock, bitcoin, ethereum, dash, ripple or any other altcoins.

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January 24, 2020, 10:52:29 AM
 #10

Actually, IMO you're already good as you are by owning half BTC. Other than that, if you think that you want to add another half or so, add it and don't wait for others approval if you have to.
This is your own stash and everything that you will do it depends on you.



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January 24, 2020, 10:58:57 AM
 #11

If you have the resources to invest more then I would suggest you invest more because we are waiting for the bull run and speculations tell us that it could happen anytime time soon. Bitcoin for me is the best investment and despite it’s price that moves almost everyday but at the end of the day bitcoin will always shine and surprise is like no other.
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January 24, 2020, 11:07:36 AM
 #12

I think that it is crazy to take any sort of direct investment advice from a forum post, but I have to say in all due respect that it is a pretty risky move, if you are considering it. Before I found out about cryptocurrency I would just occasionally browse an online encyclopedia for investing, because I never had traded any stocks before but was always interested.

The name of the site is "Investopedia", it is a free (there are a few paid courses) resource of publicly decentralized information regarding all things in the line of financial investing.
https://www.investopedia.com/financial-term-dictionary-4769738

Another place I just recently found is called "babypips", it is a "free school" for learning how to properly trade forex, which is quite similar to cryptocurrency, so in other words, some of the information there is vital for any trading, like learning how to use technical analysis techniques. Theres the Fibonacci method, candlesticks, moving averages, etc. Some of the information can be universally applied across stocks, forex, or cryptocurrency trading.
https://www.babypips.com/learn

Remember to practice your due diligence brother!
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January 24, 2020, 11:16:47 AM
 #13

Your age is very young, right for you to start an investment business in bitcoin, if you already have half bitcoin, it's good enough, you can process it, you can get a lot of profit and do your trading well.
You are already using bitcoin from now on which is better because bitcoin will have a high value in the future so doing what you are now is much better.

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January 24, 2020, 11:19:10 AM
 #14

What do you guys think?

I am late 20s. So i think i am a millennial.

But only holding half BTC, should i go more for BTC?

this is not investment advice, but....yes. what do you expect to hear on a bitcoin forum, anyway? Wink

prospects are shitty for millennials. many of us are saddled with college debt, wages are flat, housing prices are through the roof, and all projections agree it's gonna get worse for us. unless you're already rich, the stock market doesn't offer enough upside to build for healthy savings and retirement funds.

draper is right about this:

Quote
Draper reminded millennials that what may have worked for "your father or your grandfather" will not work for them. He said putting money away, penny by penny, will not work.

that's why bitcoin is the millennial's best bet. perhaps it's a high risk investment, but the potential upside more than justifies that IMO. tbh i think a single BTC will be worth millions of dollars someday. people will look back at these days in awe that we were able to afford a whole bitcoin. these days won't last forever.

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January 24, 2020, 11:20:37 AM
 #15

Those who think bitcoin is future currency are investing into bitcoin with open heart n mind. OP if you have spare cashe then I suggest you must buy BTC n hodl. Sell when you see your target price dont greed.

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January 24, 2020, 11:51:30 AM
 #16

There is no rule that fits all. You should make a thorough assesement of your financial situation including income and future perspectives. If I were a highly skilled and knowledgeable individual with pretty insignificant savings in comparison to what I'm earning I'd put up to 50% my income into crypto. But that's my personal take on it. Everybody is different - remember that.
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January 24, 2020, 11:58:37 AM
 #17

People expect millennials to be risk taker. Bitcoin being really volatile includes a lot of risk. Thus, millennial can actually help in the adoption of bitcoin. traditional traders are not much into trading new and volatile currencies like Bitcoin.
But whether you should buy more or not, should depend upon the risk you are willing to take and how much are you willing to invest.
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January 24, 2020, 12:00:03 PM
 #18

who has inspired you so you have half bitcoin Huh do not let you be influenced by anyone. bitcoin does have a bright future (in my opinion), but on the basis of its trustworthiness of electability. do everything wisely, especially for matters of investment in cryptocurrency that have a great risk of loss.
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January 24, 2020, 12:06:18 PM
 #19




What do you guys think?

I am late 20s. So i think i am a millennial.

But only holding half BTC, should i go more for BTC?
It's your right but I encourage you to do that. because now I see that there are many millenials getting rich from crypto, they trade and do bounty. so now working freely and online can make a lot of money, especially working in the crypto market. If you can deduct about 30% of your salary to invest in bitcoin or some good stocks, in the future you will not worry about money. invest as soon as possible, you will get sweet fruit when you get old, bitcoin will soon make you rich.

 
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January 24, 2020, 12:14:22 PM
 #20




What do you guys think?

I am late 20s. So i think i am a millennial.

But only holding half BTC, should i go more for BTC?

The earlier the better, but you have to ask yourself, can you take the risk? How do you feel when the price seems to fluctuate that much? Or see that your investment is somewhat on the losing end?

So it's really hard to give someone financial advises here because of so many factors. It really depends on your risk-appetite.

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