Rassah
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Activity: 1680
Merit: 1035
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August 25, 2014, 02:23:17 PM |
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Reading a story from a few years ago where someone invested all their life savings into Bitcoin and started to live off Bitcoin. that guy was a lucky guy as now the price as more than tripled to when he invested in it. Anyone else brave enough to do this?
Was that story about me, or Rick Falkvinge? Hey Dmitry... Did u invest your life savings in Bitcoin ? Who's this Dmitry character <.< >.> I moved my savings into bitcoin about same time as Rick, and moved my checking into it in June of last year. I've been using Bitcoin as my main money for over a year now, mostly relying on Gyft and Purse.io Off-topic: Are u really 76 ? From your pic it seems that you are not more than 67 !!!  Why thanks! Glad I look younger  (no, I'm nowhere near any of those ages) |
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Hobbes2
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Activity: 54
Merit: 0
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August 27, 2014, 02:50:50 AM |
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I would invest maybe half my savings into bitcoin, but not all my money. Im talking savings here as well, not daily money. I could afford to lose my whole savings but if something happened
I would be stuck. I dont think its time to invest everything you have on bitcoin.
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picolo
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August 29, 2014, 03:26:34 PM |
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I would invest maybe half my savings into bitcoin, but not all my money. Im talking savings here as well, not daily money. I could afford to lose my whole savings but if something happened
I would be stuck. I dont think its time to invest everything you have on bitcoin.
It is always a good idea to have a few different investments but if you want to hit big and you don't have much to start with it can make sense to invest heavily in Bitcoin |
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BitcoinBadger
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Activity: 111
Merit: 10
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August 29, 2014, 04:09:18 PM |
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If I knew whats going in future then I will take multiple loans and invest in BTC. Maybe the guy just invested out of something in mind..
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Dabs
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Activity: 3416
Merit: 1912
The Concierge of Crypto
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September 01, 2014, 02:44:58 PM |
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Ok, I'm going to get a 1.8 Million (peso) loan soon..... then buying 80+ BTC with it. hehehheheeh.... i'm such small fries, but gotta start somewhere, or die trying.
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minerpumpkin
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September 01, 2014, 02:48:43 PM |
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Phew, I guess it depends on the absolute amount of money you invest, as well. If you are in a western country and invest $1000 you most likely won't suffer much when you lose that. But if you've saved $50000 over 10 or 20 years, you may regret the loss a lot! People also need to make absolutely sure, they don't invest money they loaned from someone!
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I should have gotten into Bitcoin back in 1992...
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EndlessStory
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Activity: 66
Merit: 10
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September 01, 2014, 02:55:43 PM |
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The guy actually got guts. If you have studied market well then you can take large risks like this.
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Timetwister
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Activity: 1199
Merit: 1047
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September 02, 2014, 02:02:26 PM |
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Reading a story from a few years ago where someone invested all their life savings into Bitcoin and started to live off Bitcoin. that guy was a lucky guy as now the price as more than tripled to when he invested in it. Anyone else brave enough to do this?
Diversification is essential. Anyone that invests so recklessly will lose everything in the end. |
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Kickstart4
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Activity: 67
Merit: 10
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September 02, 2014, 02:03:53 PM |
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This guy has guts to invest! I wonder what if all the money became a cent, Lucky!
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johncarpe64
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September 04, 2014, 05:27:51 AM |
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Reading a story from a few years ago where someone invested all their life savings into Bitcoin and started to live off Bitcoin. that guy was a lucky guy as now the price as more than tripled to when he invested in it. Anyone else brave enough to do this?
Diversification is essential. Anyone that invests so recklessly will lose everything in the end. This is very good advice. You may get lucky if you invest in something ends up appreciating substantially however it is near impossible to know for sure which investments will go up and which ones will crash and burn. |
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MaryKris
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Activity: 109
Merit: 10
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September 05, 2014, 11:45:53 AM |
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this will never be an issue of brave... The correct word will always be stupid.
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cbeast
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Activity: 1736
Merit: 1014
Let's talk governance, lipstick, and pigs.
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September 05, 2014, 12:18:54 PM |
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Buy low, sell high. You will always win.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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beaknuke
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September 05, 2014, 12:32:30 PM |
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there is a few people on the Crypto::Stocks posts here that say they invested life-savings in stocks that they thought were legit, only to loose out to evils.
What is safe here? hmmm. anything?
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Beliathon
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September 05, 2014, 01:29:28 PM |
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It is always a good idea to have a few different investments... This statement ceased to be true the moment Bitcoin first came online. Now there is only one investment that will outperform every other in history. |
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X7
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Activity: 1175
Merit: 1016
Let he who is without sin cast the first stone
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September 05, 2014, 03:34:20 PM |
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Had all my money in BTC but I made the 100BTC move to DuckDuckCoin a while ago.... You don't know my life...  |
For what shall it profit a man, if he shall gain the world, and lose his own soul?
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MoonTime
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Activity: 96
Merit: 10
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September 05, 2014, 04:13:53 PM |
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The man really got guts to invest his life savings into bitcoins. And yeah nice money multiplier xD
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Fearless
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Activity: 89
Merit: 10
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September 05, 2014, 06:48:01 PM |
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I don't think he randomly invested in bitcoins[ nobody would be stupid enough to invest all their life's earnings into one thing].Although he took a great risk according to investors but this did pay him!
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master-P
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September 06, 2014, 05:08:51 AM |
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Buy low, sell high. You will always win.
This is much easier said then done. There is always the possibility that a price is high but would continue to rise, or that the price is low but will continue to fall. If it was possible to know when the price is low or high then the price would never become low or high because people would trade ahead of these price levels which would make the price essentially stay almost exactly the same. |
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BayAreaCoins
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Activity: 4004
Merit: 1250
Owner at AltQuick.com
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September 06, 2014, 05:14:30 AM |
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Buy low, sell high. You will always win.
This is much easier said then done. There is always the possibility that a price is high but would continue to rise, or that the price is low but will continue to fall. If it was possible to know when the price is low or high then the price would never become low or high because people would trade ahead of these price levels which would make the price essentially stay almost exactly the same. I just shake my magic 8ball and yolo my life savings at it |
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picolo
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September 06, 2014, 11:41:03 AM |
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Buy low, sell high. You will always win.
This is much easier said then done. There is always the possibility that a price is high but would continue to rise, or that the price is low but will continue to fall. If it was possible to know when the price is low or high then the price would never become low or high because people would trade ahead of these price levels which would make the price essentially stay almost exactly the same. It is easier to sell low and buy high |
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