Who's brave/stupid enough to invest their life savings into Bitcoin?

[gravitate]

I put 50% savings into btc and 50% into fiat for my kids savings I play it safe

[Daniel91]

Not me , I guess everyone belieave on Bitcoin but investing my life savings ? I would never gamble like that.
I only invest amounts that I can afford to lose.

I agree with you.
In today's world nothing is 100 % safe.
Even big banks or even whole countries can collapse (Argentina for example ) so to put trust and life savings into Bitcoin is really not smart move.
Invest only amount you can afford to loose and this is the best advice for all bitcoin users.

[bitcoin_bagholder]

There is a golden rule to live by: never invest what you cannot afford to lose.
FOLLOW IT.

This ^^ a million times over!

Let's say you are cannot afford to lose any of your savings so you don't invest anything then you have all your savings in fiat currency, investing in a currency that will lose its value over time

Your logic is flawed. The value of fiat savings actually generally will increase over time even though the principle will experience inflation as both investment returns and interest on bank savings generally will be greater then inflation.

Interest on bank savings will generally barely beat inflation if they beat it, it's the worst investment possible especially in this area of low interest rates and sunset of the Dollar which will lose most its purchasing power in the coming decade

If the FED keeps interest rates low and create a lot of USD it is very bad for fiat holders and this is exactly what the FED has been doing and will do even more when they think they need to to buy some more time

Interest on savings accounts almost never beat inflation. Interest on savings accounts is so pitifully low it's not even funny.

My main bank offers a "high interest" saving account, minimum $5K balance required. A whopping 1.05% interest. Wow, that's a real good place to park my money.

[Pulley3]

i am. i have had between 40-90% of my net worth in bitcoin depending on the month and im respectably wealthy.

And a bit cocky too. 

[picolo]

There is a golden rule to live by: never invest what you cannot afford to lose.
FOLLOW IT.

This ^^ a million times over!

Let's say you are cannot afford to lose any of your savings so you don't invest anything then you have all your savings in fiat currency, investing in a currency that will lose its value over time

Your logic is flawed. The value of fiat savings actually generally will increase over time even though the principle will experience inflation as both investment returns and interest on bank savings generally will be greater then inflation.

Interest on bank savings will generally barely beat inflation if they beat it, it's the worst investment possible especially in this area of low interest rates and sunset of the Dollar which will lose most its purchasing power in the coming decade

If the FED keeps interest rates low and create a lot of USD it is very bad for fiat holders and this is exactly what the FED has been doing and will do even more when they think they need to to buy some more time

Interest on savings accounts almost never beat inflation. Interest on savings accounts is so pitifully low it's not even funny.

My main bank offers a "high interest" saving account, minimum $5K balance required. A whopping 1.05% interest. Wow, that's a real good place to park my money.

Inflation at the grocery store is probably 4-8% last few years

Not me , I guess everyone belieave on Bitcoin but investing my life savings ? I would never gamble like that.
I only invest amounts that I can afford to lose.

If you invest 5 or 10% of your life savings in Bitcoin, it isn't too risky

[Beliathon]

What's up bitcoin noobs? Just dropping in to remind everyone what a cool cat I am.

Still got 97.5% of my life savings in Bitcoin. Still coasting at 250%+ ROI from time of divestment from that worthless scam called fiat.

[picolo]

What's up bitcoin noobs? Just dropping in to remind everyone what a cool cat I am.

Still got 97.5% of my life savings in Bitcoin. Still coasting at 250%+ ROI from time of divestment from that worthless scam called fiat.

It is not impressive if we don't know how much your life savings is

[segvec]

What's up bitcoin noobs? Just dropping in to remind everyone what a cool cat I am.

Still got 97.5% of my life savings in Bitcoin. Still coasting at 250%+ ROI from time of divestment from that worthless scam called fiat.

It is not impressive if we don't know how much your life savings is

Word.
+1.

[Beliathon]

What's up bitcoin noobs? Just dropping in to remind everyone what a cool cat I am.

Still got 97.5% of my life savings in Bitcoin. Still coasting at 250%+ ROI from time of divestment from that worthless scam called fiat.

It is not impressive if we don't know how much your life savings is

Tough shit, I'm not here to impress you, I'm here to remind everyone what a cool (and giant-ballsacked) cat I am.

I impress myself. Since I'm smarter, more popular, more athletic, bigger-balled, more humble, and more attractive than you, this is all that matters.

[Ruthful]

There is a golden rule to live by: never invest what you cannot afford to lose.
FOLLOW IT.

This ^^ a million times over!

Let's say you are cannot afford to lose any of your savings so you don't invest anything then you have all your savings in fiat currency, investing in a currency that will lose its value over time

Your logic is flawed. The value of fiat savings actually generally will increase over time even though the principle will experience inflation as both investment returns and interest on bank savings generally will be greater then inflation.

Interest on bank savings will generally barely beat inflation if they beat it, it's the worst investment possible especially in this area of low interest rates and sunset of the Dollar which will lose most its purchasing power in the coming decade

If the FED keeps interest rates low and create a lot of USD it is very bad for fiat holders and this is exactly what the FED has been doing and will do even more when they think they need to to buy some more time

Interest on savings accounts almost never beat inflation. Interest on savings accounts is so pitifully low it's not even funny.

My main bank offers a "high interest" saving account, minimum $5K balance required. A whopping 1.05% interest. Wow, that's a real good place to park my money.

Inflation at the grocery store is probably 4-8% last few years

Holy shit.I guess I can actually be thankful that  the inflation in my country isn't greater than my bank interest.

[Darwerft]

There is a golden rule to live by: never invest what you cannot afford to lose.
FOLLOW IT.

This ^^ a million times over!

Let's say you are cannot afford to lose any of your savings so you don't invest anything then you have all your savings in fiat currency, investing in a currency that will lose its value over time

Your logic is flawed. The value of fiat savings actually generally will increase over time even though the principle will experience inflation as both investment returns and interest on bank savings generally will be greater then inflation.

No your logic is flawed. Having fiat is one type of investment where if state fails so does your fiat.
Investing in a bank is another type of risk. The reason you get the 1% from the bank is beause of the risk that the bank goes bankrupt is about 1% per year.

When you put money in a bank its a double investment as you will lose money if either the bank or the fiat loses value.

Fiat savings will get smaller purchase power with time as the state will print more money, this is money 101 really.

[Kimowa]

There is a golden rule to live by: never invest what you cannot afford to lose.
FOLLOW IT.

This ^^ a million times over!

Let's say you are cannot afford to lose any of your savings so you don't invest anything then you have all your savings in fiat currency, investing in a currency that will lose its value over time

Your logic is flawed. The value of fiat savings actually generally will increase over time even though the principle will experience inflation as both investment returns and interest on bank savings generally will be greater then inflation.

No your logic is flawed. Having fiat is one type of investment where if state fails so does your fiat.
Investing in a bank is another type of risk. The reason you get the 1% from the bank is beause of the risk that the bank goes bankrupt is about 1% per year.

When you put money in a bank its a double investment as you will lose money if either the bank or the fiat loses value.

Fiat savings will get smaller purchase power with time as the state will print more money, this is money 101 really.

If you invest in a US bank then this logic holds up. It is generally accepted that the US is not going to fail. Also the US has FDIC insurance that protects depositors from bank failures

[keackh]

Personnaly, I would never do that, trust in Bitcoin!

[picolo]

There is a golden rule to live by: never invest what you cannot afford to lose.
FOLLOW IT.

This ^^ a million times over!

Let's say you are cannot afford to lose any of your savings so you don't invest anything then you have all your savings in fiat currency, investing in a currency that will lose its value over time

Your logic is flawed. The value of fiat savings actually generally will increase over time even though the principle will experience inflation as both investment returns and interest on bank savings generally will be greater then inflation.

No your logic is flawed. Having fiat is one type of investment where if state fails so does your fiat.
Investing in a bank is another type of risk. The reason you get the 1% from the bank is beause of the risk that the bank goes bankrupt is about 1% per year.

When you put money in a bank its a double investment as you will lose money if either the bank or the fiat loses value.

Fiat savings will get smaller purchase power with time as the state will print more money, this is money 101 really.

If you invest in a US bank then this logic holds up. It is generally accepted that the US is not going to fail. Also the US has FDIC insurance that protects depositors from bank failures

First of all a US bank can fail, many have, if the government decide to pay back depositors because they are not enough funds to pay them back in the legal order of repayment of creditors, they will inflate the currency so everyone will be poorer; the same will happen when the government inflate the currency to pay its obligations

Second of all banks in Europe start to have a negative interest rate meaning you are charge a % of your balance for the "benefice" of having it in your bank account

Finally, the FDIC only has a balance allowing to repay about 1% of the insured deposits of 250k of less; if you take into accounts deposits of more than 250k$ it is way less :

"A March 2008 memorandum to the FDIC board of directors shows a 2007 year-end Deposit Insurance Fund balance of about $52.4 billion, which represented a reserve ratio of 1.22% of its exposure to insured deposits, totaling about $4.29 trillion."  (wiki)

[Meuh6879]

Investing in a bank is another type of risk. The reason you get the 1% from the bank is beause of the risk that the bank goes bankrupt is about 1% per year.

Ooooh Yeaaaah ... you're a guy from the FED or from the ECB, right ?
The only banks (sic) in the world that they haven't gold to back up the economy.

Swiss have (gold)
BRICS have (big gold)
Bitcoin have (you can not forced or seized)

[leex1528]

You are always going to have risk pretty much anything you invest in.  So calling someone stupid/brave for investing is sort of silly.  Investing is just a MUCH SAFER way to gamble.

No matter what you think you are gambling with your money when you invest.  Hopefully it turns out for everyone though

[yeponlyone]

Not me that's for sure, but I still do a fair bit of investing in it!

[deluxeCITY]

First of all a US bank can fail, many have, if the government decide to pay back depositors because they are not enough funds to pay them back in the legal order of repayment of creditors, they will inflate the currency so everyone will be poorer; the same will happen when the government inflate the currency to pay its obligations

You are correct, banks in the US fail all the time. However the FDIC, by contract has to repay the depositors their account balances up to $250,000 per account type. The government does not borrow/print additional money to repay this debt, the money is taken from the FDIC trust fund.

Second of all banks in Europe start to have a negative interest rate meaning you are charge a % of your balance for the "benefice" of having it in your bank account

This is not happening on smaller balances period, anywhere, nor is it occurring in the US at all right now. The purpose of the negative interest rates is to discourage people from having large balances in their bank accounts, and to get people to withdraw excess amounts from the bank.

Finally, the FDIC only has a balance allowing to repay about 1% of the insured deposits of 250k of less; if you take into accounts deposits of more than 250k$ it is way less :

"A March 2008 memorandum to the FDIC board of directors shows a 2007 year-end Deposit Insurance Fund balance of about $52.4 billion, which represented a reserve ratio of 1.22% of its exposure to insured deposits, totaling about $4.29 trillion."  (wiki)

You are correct to say that the FDIC cannot pay if all of the banks were to fail, however the FDIC is designed to prevent this as since there is FDIC insurance people will not withdraw their money in panic if there is a chance an unrelated bank may fail.

You also fail to take into consideration that the FDIC will not need to use it's insurance fund for the entire deposit balance of the failed bank, as the failed bank will have assets (loans owed to it) that the FDIC can/will sell to (likely) another bank.

[Flashman]

Not for lack of trying, and due to being wiped out several times by various domestic emergencies, I don't have any significant life savings, so I guess you could say that what bitcoin I've got is it.

[leex1528]

Tough shit, I'm not here to impress you, I'm here to remind everyone what a cool (and giant-ballsacked) cat I am.

I impress myself. Since I'm smarter, more popular, more athletic, bigger-balled, more humble, and more attractive than you, this is all that matters.

Hmmm....you finish your post by posting a picture of Justin Bieber to show how much more popular, athletic...etc?  Fail.