Are people supposed to take huge risks for BTC?

[skottiejay]

I only ask this because I would say a fair portion of the community it seems have risked or are going to risk a large portion of their life savings and what not based on speculation that this coin will do well. Do people actually take these gigantic risks and how? I mean in the past week alone the price has tumbled from $600+, maybe even quicker than that. I just don't understand, I'm not much of a risk taker myself because I don't have the capitol or equity or whatever to put into it. Is there something I'm missing? Maybe I should read up about stocks and trading and what not.

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[Beliathon]

The risk is illusory. I promise.

[joshraban76]

It differs from person to person, and how they are able to read the market, and what previous exp. they had with bitcoin.

There is always risk in business, even in our normal, it's only each one of us who decides it's %.

[skottiejay]

I just wonder if maybe I should take a risk at all, the only chance I've got is the fxo sig campaigns and it's bringing in a decent amount of crypto but I definitely want to be secure in my future, if I have one or not. That isn't trying to sound cryptic and weird but it's true, I don't know what my own future holds I'd like to set something aside for those left behind me.

Maybe taking a risk or two would be a good idea, however I've never been one to be known to take them.

[Beliathon]

Maybe taking a risk or two would be a good idea, however I've never been one to be known to take them.

Fortune favors the bold.

[joshraban76]

I just wonder if maybe I should take a risk at all, the only chance I've got is the fxo sig campaigns and it's bringing in a decent amount of crypto but I definitely want to be secure in my future, if I have one or not. That isn't trying to sound cryptic and weird but it's true, I don't know what my own future holds I'd like to set something aside for those left behind me.

Maybe taking a risk or two would be a good idea, however I've never been one to be known to take them.

It's not weird to secure your future.

From my own humble view point, try taking one risk and see how it goes and then LEARN from it you've made profit/loss and continue basing on this.

[Cicero2.0]

Long term bitcoin looks like a great investment. In the short term there will be ups and downs obviously but you can decide what level of risk you are willing to take. As more business accept it and more investment flows in the risk for individuals gets smaller.

[nwfella]

The risk is illusory. I promise.

This is absolutely ridiculous.  You can't promise anything like this.  Fact is nobody even knows if bitcoin will be around in a year or three so don't go making promises you can't keep.

*To the OP guy: if your not much of a gambler then you really should probably stick to the sure thing with the sig. campaigns. 

*And if you are considering taking some small risk...I would suggest waiting till at least the 27th to see what kind of BTC'ers purchase the SR Fed coins.

[skottiejay]

I just wonder if maybe I should take a risk at all, the only chance I've got is the fxo sig campaigns and it's bringing in a decent amount of crypto but I definitely want to be secure in my future, if I have one or not. That isn't trying to sound cryptic and weird but it's true, I don't know what my own future holds I'd like to set something aside for those left behind me.

Maybe taking a risk or two would be a good idea, however I've never been one to be known to take them.

It's not weird to secure your future.

From my own humble view point, try taking one risk and see how it goes and then LEARN from it you've made profit/loss and continue basing on this.

This is good advice, however the capital needed to take the risk isn't there. I am unemployed, I am disabled and I don't have much if any income. I should have taken the risk when BTC was very low, and rode on the high when it was back up again but I was stupid then. The last few years have been tough that's why when I ask this question I wonder if I could be taking any risks at all, then again I've made some risky choices that don't involve money by selling everything I own and relocating somewhere there are no jobs and no opportunities.

I guess I have a lot of options to weigh here.

[Bit_Happy]

A couple months back when BTC was near ~$400 and many people were still screaming SELL! there was greatly reduced risk, since it was a fantastic time for brave people to go against the crowd. Now it takes more patience, since we already had a decent little rally, but ~$560 is a good time for some extra risk.

Are people supposed to take huge risks for BTC?
Huge "no", but without significant risk, you do not earn the big rewards later.

[skottiejay]

Are people supposed to take huge risks for BTC?
Huge "no", but without significant risk, you do not earn the big rewards later.

Then I have a lot of thinking to do, and maybe some studying up. There's a chance I could get approved for help, since I am disabled and fighting with the state to get SSI, if that does happen I will most assuredly try and put some risk into the factor. If the price ever comes down again, I will definitely leap on the chance to get a few btc's tucked away for the future.

[joshraban76]

I just wonder if maybe I should take a risk at all, the only chance I've got is the fxo sig campaigns and it's bringing in a decent amount of crypto but I definitely want to be secure in my future, if I have one or not. That isn't trying to sound cryptic and weird but it's true, I don't know what my own future holds I'd like to set something aside for those left behind me.

Maybe taking a risk or two would be a good idea, however I've never been one to be known to take them.

It's not weird to secure your future.

From my own humble view point, try taking one risk and see how it goes and then LEARN from it you've made profit/loss and continue basing on this.

This is good advice, however the capital needed to take the risk isn't there. I am unemployed, I am disabled and I don't have much if any income. I should have taken the risk when BTC was very low, and rode on the high when it was back up again but I was stupid then. The last few years have been tough that's why when I ask this question I wonder if I could be taking any risks at all, then again I've made some risky choices that don't involve money by selling everything I own and relocating somewhere there are no jobs and no opportunities.

I guess I have a lot of options to weigh here.

Well, let the past at past and move on.

You can still make money from Signature Camps., for many people, it's a job.

Focus on it and you will be making good amount of money and always use your mind for IDEAS.

Your brain nd style of thinking is your success.

[Bit_Happy]

Are people supposed to take huge risks for BTC?
Huge "no", but without significant risk, you do not earn the big rewards later.

Then I have a lot of thinking to do, and maybe some studying up. There's a chance I could get approved for help, since I am disabled and fighting with the state to get SSI, if that does happen I will most assuredly try and put some risk into the factor. If the price ever comes down again, I will definitely leap on the chance to get a few btc's tucked away for the future.

Taking time to learn more is a great plan.
Also, if you have any "eBay-type" items to sell you can get low risk BTC by selling things on a Bitcoin auction site like https://cryptothrift.com.

[nwfella]

Are people supposed to take huge risks for BTC?
Huge "no", but without significant risk, you do not earn the big rewards later.

Then I have a lot of thinking to do, and maybe some studying up. There's a chance I could get approved for help, since I am disabled and fighting with the state to get SSI, if that does happen I will most assuredly try and put some risk into the factor. If the price ever comes down again, I will definitely leap on the chance to get a few btc's tucked away for the future.

Absolutely, studying up always a good option when it comes to BTC.  The more you know the more informed your decisions will be.  And don't beat yourself up for mistakes made in the past, hindsight is always 20/20, believe me, if I beat myself up half as much as you are for not purchasing when it was much cheaper I would've jumped off a tall building by now.  (oh the horror stories I could tell you about my own mistakes :p)

*I would recommend heeding Bit_Happy's words as well, what he says about not taking huge risks not resulting in potentially huge rewards is absolutely true as well.

**Maybe start small and scale up accordingly based on how well you do.  Only risk what you can absolutely afford to lose though.

[skottiejay]

Are people supposed to take huge risks for BTC?
Huge "no", but without significant risk, you do not earn the big rewards later.

Then I have a lot of thinking to do, and maybe some studying up. There's a chance I could get approved for help, since I am disabled and fighting with the state to get SSI, if that does happen I will most assuredly try and put some risk into the factor. If the price ever comes down again, I will definitely leap on the chance to get a few btc's tucked away for the future.

Taking time to learn more is a great plan.
Also, if you have any "eBay-type" items to sell you can get low risk BTC by selling things on a Bitcoin auction site like https://cryptothrift.com.

I have a few things I probably could sell off for some BTC unfortunately I had to sell most of everything I did own, accumulating after 7 years of being in a small apartment, so I don't have much of worth right now. I'd imagine I could probably find something somewhere that might be of some small value.

Are people supposed to take huge risks for BTC?
Huge "no", but without significant risk, you do not earn the big rewards later.

Then I have a lot of thinking to do, and maybe some studying up. There's a chance I could get approved for help, since I am disabled and fighting with the state to get SSI, if that does happen I will most assuredly try and put some risk into the factor. If the price ever comes down again, I will definitely leap on the chance to get a few btc's tucked away for the future.

Absolutely, studying up always a good option when it comes to BTC.  The more you know the more informed your decisions will be.  And don't beat yourself up for mistakes made in the past, hindsight is always 20/20, believe me, if I beat myself up half as much as you are for not purchasing when it was much cheaper I would've jumped off a tall building by now.  (oh the horror stories I could tell you about my own mistakes :p)

*I would recommend heeding Bit_Happy's words as well, what he says about not taking huge risks not resulting in potentially huge rewards is absolutely true as well.

**Maybe start small and scale up accordingly based on how well you do.  Only risk what you can absolutely afford to lose though.

Where would I start studying up on the market per say, that's what I'd like to know. All I know about btc is that they are surging, the GHash thing, and that it's hard to get them by mining unless you own superior hardware.

[nwfella]

Right here is an excellent place to start.  bitcointalk.org literally has thousands of threads that you should find useful.  Start exploring, get active, ask questions.  For the most part you will find that most bitcoiners will be more than happy to help if they can.

For a nice news related site for bitcoin I prefer the following:
coindesk.com (great daily news summaries)
bitcoinmagazine.com (at times detailed discussion of 2.0 based tech's (i.e. Ethereum)

For price tracking:
bitcoinwisdom.com
tradingview.com (expert traders, live chat channel as well, many experienced forex traders exploring BTC here, excellent place to get a better idea about market trends, etc.)

[Beliathon]

The risk is illusory. I promise.

You can't promise anything like this.  Fact is nobody even knows if bitcoin will be around in a year or three so don't go making promises you can't keep.

I know, I'm making the promise, and I'm going to keep it. Maybe I'm a time traveler, or maybe I'm just super-duper smart. Well dear reader, you'll never know, but that doesn't make me any less correct in my assertion that there is no TRUE risk.

Cryptocurrency is a Pandora's box that has been opened. There will be no closing it, there is no going back from this; no stopping it. For once, democracy will have its way.

[BillyBobJoe]

The risk is illusory. I promise.

OMG. You promise? What a nut case.

[franky1]

I only ask this because I would say a fair portion of the community it seems have risked or are going to risk a large portion of their life savings and what not based on speculation that this coin will do well. Do people actually take these gigantic risks and how? I mean in the past week alone the price has tumbled from $600+, maybe even quicker than that. I just don't understand, I'm not much of a risk taker myself because I don't have the capitol or equity or whatever to put into it. Is there something I'm missing? Maybe I should read up about stocks and trading and what not.

if you consider it a risk. dont do it. instead only put half of what you consider as risky into bitcoin. that way you have automatically halved your risk.

if you cant afford 2 golden eggs then dont put all your eggs into one basket when your eventually ready to buy the eggs.

if you get a monthly salary, do not put the whole income into bitcoin. as you do not know how long a price will stay flat (like the february-may $450) instead each month put in what you would describe as the total bill of a night out getting drunk, buying a meal and getting a taxi home.

basically 'disposible income', (money that you will never see again) that way you do not become emotionally attached to it to make silly desicions. examples of stupid decisions

1)buying 1btc at $1000, selling at $450 because you got scared it would go to zero. then waiting until $650 to buy back in and selling again at $560. (mathematically leaving you $391) all due to emotional attachment of not wanting to lose it all.

2) buying at $1000 and selling ALL at $450 leaving no btc spare to reap any benefits of the eventual rise. and costing you more to buy back in once it did rise, meaning your left with 0.7btc because you bought back in at $650

3)buying at $1000 and then selling at $450 because december-may was too long and you really needed the money

unless you understand day trading to grow your holdings.. dont be worrying about changes, dont be trying to buy and sell based on emotional attachment of what that holdings can or could have bought you. if your emotional about trading, you should not trade.

[Dsellerz]

I'm kinda new to BTC as well, and I found youtube to be a good source of info.

The first thing I started with was this series of vids http://www.youtube.com/channel/UCgo7FCCPuylVk4luP3JAgVw/videos
I mostly viewed the basic 101 clips as the advanced coding stuff is over my head. You learn a lot of important stuff about storing and securing your coins as well as other beginner stuff.

Then I started looking at how to read the numourus charts and graphs that BTC traders use to locate trends for trading.
There are lots of vids for that through out youtube.

But as always, buy low (now) sell high (next month)