bitllionaire
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Activity: 1120
Merit: 1000
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September 29, 2014, 12:21:26 PM |
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I think that would really stupid more than brave you should not invest what you can't afford
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leex1528
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September 29, 2014, 06:39:37 PM |
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Bitcoin might go below $100 dollars:/
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a447513372
Sr. Member
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Activity: 336
Merit: 250
DLISK - Next Generation Coin
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September 30, 2014, 01:01:10 AM |
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There is a golden rule to live by: never invest what you cannot afford to lose. FOLLOW IT.
This ^^ a million times over! It's generally a good rule, though sometimes the people who take the risk and go YOLO are the ones who win big, but of course the opposite is also true. I'm a big believer in bitcoin, but I'm not a big believer in people and those are what we need for bitcoin to push through and become very succesful, so I only invest a little of my own money and try earn bitcoins in other ways as I know it's not a foolproof investment. Saying that though, you could invest all your money in bitcoins now and sell as soon as they double or something, which I think is likely to happen, but it's not guaranteed and of course is a risk. Whether you take that risk is down to you to make. Going "YOLO" is a very good way to end up broke and is essentially playing the lottery. As long as you will not need the money you are risking in a long time and have the ability to save to make up potential losses then it is acceptable to risk money that you will need in the future. This is essentially how people should save for retirement. The best investors will make calculated risks that have a good risk to reward ratio
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leex1528
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October 09, 2014, 12:50:54 PM |
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Well at least it is bouncing back up now...IT was below $300 for a bit and that was starting to worry me. Like many people said in this thread, don't invest what you cannot afford to lose!
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Q7
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October 09, 2014, 01:40:31 PM |
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Depends on what level you risk you want to take, the higher it is the more profound the impact. It can go both ways though...ask yourself are you willing to take the risk?
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Dabs
Legendary
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Activity: 3416
Merit: 1912
The Concierge of Crypto
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October 09, 2014, 02:14:51 PM |
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Fiat Loan Approved! haha!
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cexylikepie
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October 09, 2014, 03:41:34 PM |
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I wonder if anyone made a big buy with their life savings at 300...
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CoinFan10076
Newbie
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Activity: 9
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October 09, 2014, 04:12:21 PM |
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Putting all of your savings into anything is not a great idea. Easy example, look at the stock market, still baffles me why people continue to pour all their savings into that. A mix and diversification is key, but do agree with others being bullish on BTC that the long term opportunities are great for BTC if you can hang on for the ride.
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bitcoinmon
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October 11, 2014, 12:02:15 AM |
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Bitcoin might go below $100 dollars:/
If it did, I'd put most of my savings in it then
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picolo
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October 12, 2014, 10:56:24 AM |
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Putting all of your savings into anything is not a great idea. Easy example, look at the stock market, still baffles me why people continue to pour all their savings into that. A mix and diversification is key, but do agree with others being bullish on BTC that the long term opportunities are great for BTC if you can hang on for the ride. You would have do better pouring your money into the stock market than money fundsk, savings accounts or real estate in the USA but the stock market is probably overinflated and even if it will go up it may perform less than Bitcoin, Gold or foreign assets
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pitham1
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Activity: 1232
Merit: 1000
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October 12, 2014, 05:00:22 PM |
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Bitcoin might go below $100 dollars:/
If it did, I'd put most of my savings in it then And then you may see it go to $10.
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cbeast
Donator
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Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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October 12, 2014, 07:07:30 PM |
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Bitcoin might go below $100 dollars:/
If it did, I'd put most of my savings in it then And then you may see it go to $10. And then you might pull bitcoins out of your derriere. I might pay $10 to see that.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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chopstick
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Activity: 992
Merit: 1000
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October 12, 2014, 07:09:37 PM |
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All us BTC hodl'ers are gonna be rich I have SEENT it
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botany
Legendary
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Activity: 1582
Merit: 1064
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October 13, 2014, 12:31:30 AM |
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All us BTC hodl'ers are gonna be rich I have SEENT it Yup, and it doesn't matter if you have invested a small amount or your life savings into it.
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picolo
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October 16, 2014, 11:23:10 PM |
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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
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theskillzdatklls
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October 17, 2014, 01:57:34 AM |
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i am. i have had between 40-90% of my net worth in bitcoin depending on the month and im respectably wealthy.
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Argwai96
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Activity: 1036
Merit: 1000
Thug for life!
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October 17, 2014, 03:53:13 AM |
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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.
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picolo
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October 17, 2014, 04:57:22 AM |
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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
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keithers
Legendary
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Activity: 1456
Merit: 1001
This is the land of wolves now & you're not a wolf
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October 17, 2014, 06:58:23 AM |
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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.
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The Bad Guy
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October 17, 2014, 07:01:50 AM |
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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.
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