ShakyhandsBTCer
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It's Money 2.0| It’s gold for nerds | It's Bitcoin
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June 16, 2014, 03:26:24 AM |
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I have just allocated some serious money and thinking about investing about $50k on bitcoin. Someone convince me why I should buy $50k worth of bitcoins right now!
If you need random anonymous strangers on the internet to convince you, then you should not invest. This. A public forum is a horrible place to get information when you are trying to determine where to put your money. With that being said I think that bitcoin will succeed over the long term and that the price will increase over the long term. well, to be fair, i could see someone posting some compelling TA charts, or links and explanation of fundamental analysis, and it could be quite useful in fact. this is a new asset class -- and there is not much from the professional sphere that breaks it down for retail investors. Maybe, but I would still not consider this forum to be a good place for information regarding where to put my money. For technical information, yes. But there is just too much of a conflict of interest (most people here hold bitcoin) and there are many scams here.
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keithers
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This is the land of wolves now & you're not a wolf
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June 16, 2014, 04:05:32 AM |
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Unless this is completely disposable investment money, I would not recommend allocating it all to BTC at once, unless you are looking at it from the medium to long term. Regardless, you should be diversifying it amongst several investments...
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ChiliPowder
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June 16, 2014, 05:19:45 AM |
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One of the double your bitcoins ponzi's
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JessyMatt (OP)
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June 16, 2014, 05:38:02 AM |
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I think you need to do your own homework rather than asking to be convinced. Its a risky investment. It could continue to grow or it could drop to zero.
Do you have specific questions?
Just want to hear other people's insight before I make a decision. I've already done some research but want to hear people that are already invested on this thing.
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JessyMatt (OP)
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June 16, 2014, 05:39:07 AM |
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One of the double your bitcoins ponzi's
I'm not looking for quick money making schemes
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sukamasoto
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Black Panther
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June 16, 2014, 07:20:43 AM |
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This might be your choice to invest cryptory
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boumalo
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June 16, 2014, 08:32:01 AM |
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Hey bro, you forget www.btcjam.com ! So, if you want to invest in sure way, buy some bitcoin, then send its to a paper wallet ! When price will rise up, sell it and get your money Why do foreign scammers always call everyone "bro". Why not just wear a sign that says, "I'm trying to hustle you, kind sir." Maybe it is the same guy trying to sc.am
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joele
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June 16, 2014, 08:56:30 AM Last edit: June 16, 2014, 09:32:06 AM by joele |
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My advice is to put your $50k in bitfinex.com and invest in lending, the interest rate now is 0.25% a day. So for $50k that is $125 daily interest, then buy bitcoin with your interest.
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boumalo
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June 16, 2014, 11:30:17 AM |
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Real estate price, over long term, will go up also.
You may need to consider investing in real estate than bitcoin.
Why would they? You don't really own the property since you need to pay a myriad of taxes and you need to repair it; if the taxes are raised or if the interest rates go up, the price of "your" property is likely to go down; I am not even talking about a revolution or a natural disaster that will reduce the price tremendously
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TheTracker
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June 16, 2014, 11:36:40 AM |
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I'd probably diversify my investment, putting all of your hard earned cash on one horse seems a little rash don't you think? Instead, buy bitcoins for 10k and use the rest for something else! Maybe buy some Gold & Silver (plus a safety deposit box) or invest in a start-up or two in your neighborhood.
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boumalo
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June 16, 2014, 11:50:01 AM |
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I'd probably diversify my investment, putting all of your hard earned cash on one horse seems a little rash don't you think? Instead, buy bitcoins for 10k and use the rest for something else! Maybe buy some Gold & Silver (plus a safety deposit box) or invest in a start-up or two in your neighborhood.
He is thinking of buying 50k$ worth of bitcoins but as stated previously he has more available; 50k$ out of a 1m$ portfolio isn't that extreme if you are young
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ljudotina
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June 16, 2014, 12:00:17 PM |
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I have just allocated some serious money and thinking about investing about $50k on bitcoin. Someone convince me why I should buy $50k worth of bitcoins right now!
If you need someone to convince you to invest into something, than you should NOT invest! You should invest into something you understand and if you need convincing, than you don't understand BTC at all. Plus....what if you'r investment, for a reason or two fails...that you can blame others for convincing you? That's not the way it goes. Your money, your decision, your responsibility.
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AdamSmith
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June 16, 2014, 04:31:30 PM |
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My advice is to put your $50k in bitfinex.com and invest in lending, the interest rate now is 0.25% a day. So for $50k that is $125 daily interest, then buy bitcoin with your interest.
Good strategy. Just make sure to pay news to bitfinex from time to time in case they try to gox depositors.
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scribbles
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June 16, 2014, 04:58:57 PM |
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Real estate price, over long term, will go up also.
You may need to consider investing in real estate than bitcoin.
Why would they? You don't really own the property since you need to pay a myriad of taxes and you need to repair it; if the taxes are raised or if the interest rates go up, the price of "your" property is likely to go down; I am not even talking about a revolution or a natural disaster that will reduce the price tremendously Don't really own the property? That's a negative oversimplification of real property rights. Also, my last mortgage was LESS per month (including taxes and ins) than the going rate for rent in my area. Then I sold the house after three years of ownership and net profited 70k USD. That's net profit. I'm sure you can find plenty of negative stories too, but to say you can't make money in real estate right now is patently false. It just takes a smart investment.
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ShakyhandsBTCer
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It's Money 2.0| It’s gold for nerds | It's Bitcoin
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June 16, 2014, 05:32:15 PM |
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My advice is to put your $50k in bitfinex.com and invest in lending, the interest rate now is 0.25% a day. So for $50k that is $125 daily interest, then buy bitcoin with your interest.
Good strategy. Just make sure to pay news to bitfinex from time to time in case they try to gox depositors. You can make a lot more if you were lending on these forms.
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cr1776
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June 16, 2014, 05:52:33 PM |
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My advice is to put your $50k in bitfinex.com and invest in lending, the interest rate now is 0.25% a day. So for $50k that is $125 daily interest, then buy bitcoin with your interest.
Good strategy. Just make sure to pay news to bitfinex from time to time in case they try to gox depositors. If you believe in bitcoin, just buy some and put it away in cold storage. These sites that are lending bitcoin and paying interest are just too risky. There have been plenty of scams from various people over the years. Plenty of people who thought their security was good and it wasn't. Plenty of people who just made silly mistakes and lost coins (e.g. paying 20 BTC in mining fees because they were using raw transactions and didn't understand change). I am not sure what exactly Adam Smith is trying to say above (e.g. "pay news to bitfinex from time to time"), but I would say that if any third party has control of your coins, you do not own them and you take the risk of being Gox'd because you do not own the coins - you have someone who OWES you coins and you are creditor to them. And good luck getting them back if they Gox you. In short, if you need to be convinced, don't do it. If you want to hear the pros and cons to help you decide, probably best not to do it. That said, there are plenty of reasons that bitcoin has a lot of potential to appreciate over the years and many people believe it will, but it could also go to zero, so it is risky. There are a ton of articles dealing with the pros of bitcoin all over the place, if you think they are accurate, buy. :-)
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DannyElfman
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June 16, 2014, 05:54:05 PM |
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Your money lent out on BFX is not that safe. Certainly not without risk. Lots of swaps borrowed, not so many bids in the order book...
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This spot for rent.
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Essex343
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June 16, 2014, 07:19:23 PM |
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Sellers are exhausted here. I don't think we'll see under $500 for a long time, if ever.
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DannyElfman
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June 16, 2014, 07:35:06 PM |
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Sellers are exhausted here. I don't think we'll see under $500 for a long time, if ever.
I'm thinking similarly. Once we crack this 610 resistance, we are headed to the 700s!
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This spot for rent.
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