cbeast
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Let's talk governance, lipstick, and pigs.
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August 09, 2014, 12:59:37 PM |
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Part of me thinks it would be a good idea to invest a lot of money in bitcoins as I see the potential and think its going to rise greatly, yet I also know it's unwise to invest a lot in something so risky, so I'd say it's a mix of bravery and stupidity hehe.
I'm coming into a small windfall and it is tempting to dump into a buy all at once, but don't. Always use dollar cost averaging and keep cash on hand for opportunities with flash crashes. |
Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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Beliathon
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August 09, 2014, 02:54:55 PM |
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Part of me thinks it would be a good idea to invest a lot of money in bitcoins as I see the potential and think its going to rise greatly, yet I also know it's unwise to invest a lot in something so risky, so I'd say it's a mix of bravery and stupidity hehe.
I'm coming into a small windfall and it is tempting to dump into a buy all at once, but don't. Always use dollar cost averaging and keep cash on hand for opportunities with flash crashes. Even better, keep open bids on exchanges at amounts of your choice - such as $300, $200, or even $100. Hey, you never know! It could crash down to $100 for 3 seconds and if you're the one with the open buy order.. well, you win. |
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Daniel91
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August 09, 2014, 02:57:04 PM |
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Any business, no matter how big or important, even national banks and huge world companies, even countries, can financially collapse at any moment.
So, to invest everything in something at such early stage, as bitcoin, will be foolish.
Invest just amount you can afford to loose.
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leex1528
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August 13, 2014, 03:51:52 PM |
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Any business, no matter how big or important, even national banks and huge world companies, even countries, can financially collapse at any moment.
So, to invest everything in something at such early stage, as bitcoin, will be foolish.
Invest just amount you can afford to loose.
This over and over. I have been stressing it since day 1. Here is the thing, if you invest in bitcoins even moderately, if it takes off you will still be doing just fine. Greed is influencing so many people to make it tough for them to think. If you invest everything in it and it crashes, well I feel bad for you:( |
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Dabs
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The Concierge of Crypto
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August 13, 2014, 04:26:09 PM |
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I think bitcoin is gambling.
So far, it seems to me, I can borrow money (while making sure I can pay it back even without bitcoin), buy bitcoins, then either further invest it somewhere else, or just hold it, then pay off the loan slowly. Over several months, your principal amount should have shrunk but your bitcoin holdings or investments would remain.
At the end of the term, you would have paid off your debt, but still have some bitcoin left over, which could be worth what you put into it, or even more. It's possible it might be worth less, but over 2 or 3 years?
When I look at it that way, it doesn't seem that foolish, but it still is.
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zedicus
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CryptoTalk.Org - Get Paid for every Post!
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August 14, 2014, 10:47:59 PM |
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I think bitcoin is gambling.
So far, it seems to me, I can borrow money (while making sure I can pay it back even without bitcoin), buy bitcoins, then either further invest it somewhere else, or just hold it, then pay off the loan slowly. Over several months, your principal amount should have shrunk but your bitcoin holdings or investments would remain.
At the end of the term, you would have paid off your debt, but still have some bitcoin left over, which could be worth what you put into it, or even more. It's possible it might be worth less, but over 2 or 3 years?
When I look at it that way, it doesn't seem that foolish, but it still is.
Buying and/or using bitcoin is not at all gambling, as it does have a lot of long term potential, although it will likely have a lot of price swings before it reaches it's ideal level of adoption. With that being said, borrowing money for no reason other then to buy bitcoin with the hopes that it's price will rise is nothing more then speculation and is very risky. |
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leex1528
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August 15, 2014, 01:03:14 PM |
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Buying and/or using bitcoin is not at all gambling, as it does have a lot of long term potential, although it will likely have a lot of price swings before it reaches it's ideal level of adoption.
With that being said, borrowing money for no reason other then to buy bitcoin with the hopes that it's price will rise is nothing more then speculation and is very risky.
Of course Buying Bitcoin is gambling....how is it not? You are spending money in hopes you return more money without doing anything....Pretty much the definition of gambling....just like the stock market. |
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sharpiedeluxe
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August 15, 2014, 01:42:02 PM |
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Investing your life savings into Bitcoin is borderline retarded and indicative of a low financial intelligence.
This is me. I invested over 80% so far. HODLING but yeah. I'm too scared to cut my losses, so I just HODL. |
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leex1528
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August 15, 2014, 01:48:16 PM |
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This is me. I invested over 80% so far. HODLING but yeah. I'm too scared to cut my losses, so I just HODL.
That's a lot of eggs in one basket...I really hope it doesn't crash for your sake! |
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Meuh6879
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August 15, 2014, 01:56:30 PM |
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FIAT system crash before bitcoin ... and why bitcoin crash ?
FIAT system is "by the hell" more weak than the bitcoin system.
That why, from 6 months, i only hold money in BTC.
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bornil267645
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August 15, 2014, 01:58:39 PM |
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No way in hell. But I can consider itself more as a part-time action rather than putting my life savings into it.  |
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Bit_Happy
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A Great Time to Start Something!
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August 15, 2014, 03:28:29 PM |
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If I had a significant amount of fiat, then I would have no problem with putting at least 50% into BTC.  100% would not be wise. |
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cbeast
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Let's talk governance, lipstick, and pigs.
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August 15, 2014, 03:30:30 PM |
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I'm selling my house Monday and am going to at least buy back the coins I spent when it was much higher.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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CozyLife
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Activity: 84
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Theymos, unban my account.
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August 15, 2014, 04:09:47 PM |
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I'd seriously doubt that Bitcoin will ever die with this much power behind it. It's still in beta, but to me it might as well be version 1,000 like FireFox is trying to work up to. It has it's flaws, but the development team is working to fix every last one of them and that's what counts. If tomorrow the value of a Bitcoin was $1, I could still see tons of people investing and driving the price up to at least $300. At this point it just seems too difficult to kill Bitcoin.
So, to answer your question, yes I would dump my savings into Bitcoin and i think a lot of us would.
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MakeBelieve
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August 15, 2014, 04:20:41 PM |
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I'm selling my house Monday and am going to at least buy back the coins I spent when it was much higher.
That's some commitment you are making you must really believe in Bitcoin to do that I would like to do this some day but probably sell my house via Bitcoin. |
On a mission to make Bitcointalk.org Marketplace a safer place to Buy/Sell/Trade
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Dabs
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Activity: 3416
Merit: 1912
The Concierge of Crypto
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August 15, 2014, 04:49:21 PM |
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No guts no glory. Fiat loan incoming any time now. hahahahahahaah.... bitcoin price dropping .... will have to seriously think this when the fiat is in my hands. (I can always return all the money or lend it to someone else.)
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leex1528
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August 15, 2014, 04:55:04 PM |
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God you guys are ballsy! I really really hope it pans out okay and you don't end up on the street begging for money:(
Its a heck of a gamble hopefully it pays off for you!
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counter
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August 15, 2014, 05:28:08 PM |
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No guts no glory. Fiat loan incoming any time now. hahahahahahaah.... bitcoin price dropping .... will have to seriously think this when the fiat is in my hands. (I can always return all the money or lend it to someone else.)
You know what even though I don't think it is the best idea to take on a loan for BTC. I can't help but feel this is the best form of gambling. I'd almost like to take a small loan and see what happens as an experiment. A story like that could be very news worthy in the future if Bitcoins takes off. |
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Dabs
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Activity: 3416
Merit: 1912
The Concierge of Crypto
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August 15, 2014, 05:45:26 PM |
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It's like slow motion dice. That's how I see it.
It's taking me several weeks to secure this loan. I've had earlier ones, but I re-lent those out to another company, and they have been paying my amortizations every month, so at least I have good credit.
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Beliathon
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August 15, 2014, 05:57:40 PM |
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No guts no glory. Fiat loan incoming any time now. hahahahahahaah.... bitcoin price dropping .... will have to seriously think this when the fiat is in my hands. (I can always return all the money or lend it to someone else.) Bitcoin @ under $500 means its the PERFECT time to buy! Always keep your mind on the big picture, never the small (short term) one. |
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