Is Bitcoin such a big risk?

[Mpamaegbu]

Is it riskier to place your money in Bitcoin or hold them in a fiat savings account? What's your opinion?

Let me plunge directly into your question while leaving out your bias in the first paragraph (of course, every business is risky). Having said that, I think the technicality of your question still beggars choice. However, relating it with today's world (giving the pandemic) you can easily see that it's a better choice to hold one's money in Bitcoin than in fiat. Amidst this pandemic a lot of countries have suffered loss to the strength of their currencies and financial records, yet Bitcoin keeps soaring in price and value. This, as it stands now, is a simple testament that Bitcoin is the choice to make.

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[Inkdatar]

Bitcoin is not a big risk, but the problem is most people don't have the right and proper knowledge about crypto currency in general. They don't know how it works and how they can benefit from it. Like when I knew about Bitcoin in 2017 I didn't take it seriously and then Bitcoin was not as expensive as it is today, and so I didn't invest in it because I thought it was Ponzi scheme and would crash the way other Ponzi scheme crashed. But today bitcoin has lasted test of time and it's still making progress and changed the stories of many people.

Actually a lot of people have the regret of not buying of bitcon when it was not well known. Though, moving forward we can still catch this opportunity on accumulating some bitcoin. Every investment is a risk and I agree with you that there's a need for proper knowledge to know how it really works so we can have a deep understanding of every detail before we jump in this industry.

[Bitcoinenthusiasts23]

It may be a risk, but I can guarantee you its the future. Money has the problem of inflation. If we could switch to bitcoin being a standard unit of account and not price it in usdt, this solves the most basic problem of money. However, we would need to peg a value for Bitcoin for this to happen. Only if Satoshi had thought of this.

[s1mer]

In my opinion, the risk of investing in Bitcoin drops every day.

Recently MicroStrategy bought $175M worth of Bitcoin and now their crypto assets are valued at $425M, so, based on that, I guess BTC is a pretty good investment right now for years to come.

[BITCOIN4X]

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In the context of investing, I think everything has risk and of course these risk can be minimized in the right way. In my opinion, bitcoin can be categorized as one of the asset to invest safely during a pandemic beside that we still have many other option.

But in reality, not everyone in the community and business people like bitcoin because of the risk. There are many consideration that potential bitcoin investor should pay attention to, especially for beginner and bitcoin investing is not suitable for experimentation for those who dont know how it work. Volatility is the main reason and safety the second, in my opinion. During this pandemic I only believed in two investment asset and that was bitcoin and gold.

[panganib999]

Yes, certainly Bitcoin is risky is a beginner or a newbie in the field would hold such crypto. Someone who still do not know how to handle and duly understand how Bitcoin works will really be into the phase of facing the risks associated on investing into Bitcoin. Well actually whether it is fiat or crypto, investment do always have certain risks but that could be manageable if you would make yourself educated about stuffs related on it to better do manage on how will you act on certain situations knowing that your money is at stake. There are really certain risks associated upon doing any investments which makes you in need to make yourself knowledgeable so you can lessen the risks for you do know how to deal with such risks. Actually among other crypto, Bitcoin can be considered to be the most stabilized and trusted crypto so being well-informed about it will make you understand fully Bitcoin. People just find it risky because they haven't even tried it, they are misinformed and they certainly do not know anything about it.

[Zionatin]

If you have a weak local currency that loses value often then keeping your money with bitcoins might be a better choice. YOu also won't need to pay banking fees and things like that. Though if you live in a country where the currency is weak you might not have that many options to spend it. I don't think you should look at bitcoin as investing in the traditional sense of the word. More like investing your interest in another form of currency.

[ekeh]

Bitcoin is a digital assets, that is always keep appreciate from time to time, which is normally seen it as a movement in the crypto currency industries, hence, bitcoin is not a risk, but is a very cool business to invest on, from financial Freedom.

[seoincorporation]

To understand how big a risk it is, then you have to think big.

Suppose you spend $10M on btc today at $10,000 each btc, and in one week it goes down to $8,000... At that point you already lose the 10% of your investment, $2M are gone on that point... That' means it's high risk. Now imagine what happens if it goes down to $5,000. On that point, you will lose 50% of your investment. That's what i call big risk,

[shamimal93]

If you want to keep all your hard earned money in Bitcoin then of course it is risky.  But yes, if you have a lot of extra money, you can try.  Risks are everywhere.  Be it small business or big.  If you do not take risks, you will never be able to do great things.  However, it is also better not to deposit all the money of life in Bitcoin.

[carlisle1]

If you want to keep all your hard earned money in Bitcoin then of course it is risky.  But yes, if you have a lot of extra money, you can try.  Risks are everywhere.  Be it small business or big.  If you do not take risks, you will never be able to do great things.  However, it is also better not to deposit all the money of life in Bitcoin.

No one will do that BS unless he is too sure about the currency he is betting.

I have read a Man that sold His house and all His assets just to Buy Bitcoin and i am not sure if he sold the Bitcoin when the price pump above his buying price.

but for me?i will never do the same because i don't wanna be a hero or a fool risking everything i have in something i am not sure off.

[Mahdirakib]

If you want to keep all your hard earned money in Bitcoin then of course it is risky.  But yes, if you have a lot of extra money, you can try.  Risks are everywhere.  Be it small business or big.  If you do not take risks, you will never be able to do great things.  However, it is also better not to deposit all the money of life in Bitcoin.

Bitcoin investment isn't something like addiction. So no one will use his whole life earning in bitcoin investment. But it's not a bad choice to invest large part of your earnings in bitcoin. Even a small investment in bitcoin may become worthy in future. You can get some inspiration by reading this article.

[XEsseKasper]

My personal view is that as long there is volatility on crypto market, there will be investor’s interest to invest here. Majority of people on this market are driven by its earning potential. Without it, I am not sure if there would be any interest

[GeorgeJohn]

Its encouraging to invest in bitcoin because is decentralized especially interpreneurs who are into different business because fiat which is popular normally reduces its values in fiat savings account, but in bitcoin provided that the price of bitcoin is in constant acceleration the money is saved.
Shall both have similar value but is more preferable to invest in bitcoin because of prob and is decentralized as I stated above.

[Twentyonepaylots]

If you want to keep all your hard earned money in Bitcoin then of course it is risky.  But yes, if you have a lot of extra money, you can try.  Risks are everywhere.  Be it small business or big.  If you do not take risks, you will never be able to do great things.  However, it is also better not to deposit all the money of life in Bitcoin.

No one will do that BS unless he is too sure about the currency he is betting.

I have read a Man that sold His house and all His assets just to Buy Bitcoin and i am not sure if he sold the Bitcoin when the price pump above his buying price.

I also had read that story, I don't know what happened to that man now if he already pull it off and enjoy his life or still waiting til bitcoin pumps to his desired price but yea that's a total bullshit putting the rest of your life in a volatile coin, it's like playing russian roulette online.

but for me?i will never do the same because i don't wanna be a hero or a fool risking everything i have in something i am not sure off.

There will be only two things that will happen, it's either you'll be a crypto history for putting your life in bitcoin, or your money will be just a history 

[AakZaki]

To understand how big a risk it is, then you have to think big.

Suppose you spend $10M on btc today at $10,000 each btc, and in one week it goes down to $8,000... At that point you already lose the 10% of your investment, $2M are gone on that point... That' means it's high risk. Now imagine what happens if it goes down to $5,000. On that point, you will lose 50% of your investment. That's what i call big risk,

I think it's very risky, I can say this because:
1. Value fluctuates, can be controlled by large fund owners.
2. Bitcoin as a non-functioning currency is just an empty speculative asset.
3. Bitcoin does not yet have a legal basis that regulates and agrees to the whole world.
4. Bitcoin is considered illegal in some countries.

In the end, risk management is the best alternative in dealing with high risk  Bitcoin's .

[Bitcoinislife09]

Many people I know formed a bias that cryptocurrencies are inherently risky and you shouldn't invest in them more than you can afford to lose.

I agree with the above statement in a certain extent, but I'd like to ask the community. Is it riskier to place your money in Bitcoin or hold them in a fiat savings account? What's your opinion?

So curious to see the response especially today when we live in times of crisis.

Bitcoin is risky because you are just investing in digital money that does not have a physical form comparing it to other digital currency which you could convert in physical money or fiat money. A lot of people know and understand bitcoin technology and they know how risky it is and they are willing to take the risk investing in bitcoin even though it is risky the demand of people today in bitcoin is just high and even me I cant imagine how bitcoin marketplace is going to go down easily.

[yeamin.rsl]

In some points bitcoin is risky such as Technology Reliance,Cybertheft (Cryptocurrency is technology-based, which leaves this investment open to cyberattacks), Limited Use , New Technology (Cryptocurrency is still a very young technology. Bitcoin came about roughly 10 years ago, and it has yet to develop into something solid), Unregulated ( cryptocurrencies are currently unregulated by both governments and central banks).

“Make sure that you diversify your portfolio, only dip your toe into this, and don’t put more into it than you can actually afford to lose,” Jenkin said.

[PhilEilhart]

Bitcoin, like other cryptocurrencies, is still beneath improvement. Hence, something totally startling seem happen to it, which perpetually happens at the advancement organize not as it were with financial objects but too with test innovations.

[CasherUp]

To be honest with you personally I prefer bitcoin for the simple reason that it is decentralized, there is no bank that will tell me how much money I can send daily, of course cryptocurrencies have fluctuations in the market that can be very favorable as against but I am very sure that I prefer a thousand times to save money in cryptocurrencies