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

[gentlemand]

I wish I had the balls to invest all my money into Bitcoin but im still concerned about the price how it is and isnt going high enough for me at the moment im just about breaking even give or take a few dollars.

You will find people who have invested their college money/ money from sale of house into bitcoin when the price was at $600-$1000 and regret it now.
Better not to invest more than what you can lose.

They should be thinking in a 3-10 year time frame. Anyone who put in a big blob expecting a vast payday a handful of months down the line is being naive.

Well to be fair this is what happened to the price of bitcoin in recent years. Up until early this year the price of bitcoin went almost exclusively up. The price also went up by ~15x last November when it crashed to less then $100 then spiked to over $1,200 in well under a month

True indeed, but in the great scheme of things $0 to a $5 billion market cap is achievable by a few hundred thousand enthusiasts.

To get beyond that you need to convince a nice chunk of the world at large. That takes time and patience.

[50ouncebrew]

well how much was it? and yeah i would put in some im saving all my btc and investing some into miners aswell

[botany]

brave enough or suicidal?
You never invest all your money into one category that is rule number 0 it goes without being said.

Bitcoin would never form more than 1% of your portfolio, if you took investment advice.
However, every one of us has a gambling streak within.

[Flashman]

Bitcoin would never form more than 1% of your portfolio, if you took investment advice.
However, every one of us has a gambling streak within.

Not if you're 90, but under 50s should be able to have higher risk profile investments as a larger proportion of total.

[LordSonjai]

Bitcoin would never form more than 1% of your portfolio, if you took investment advice.
However, every one of us has a gambling streak within.

Not if you're 90, but under 50s should be able to have higher risk profile investments as a larger proportion of total.

Honestly,everyone is just throwing around opinions,if thats how you feel thats how you feel. By 90 you should be sitting pretty with a top hate and tux in a lamborghini diablo monster truck by than...

[smoothie]

Investing your life savings into Bitcoin is borderline retarded and indicative of a low financial intelligence.

Your statement is only true on certain timelines.

lol people who bought BTC at $0.10 are golden.

[Flashman]

lol people who bought BTC at $0.10 are golden.

Imagine a 12 year old who blew the whole $100 he had to his name that his grandma gave him for Christmas and birthdays.... HE'S not worried about how to afford higher education right now.

[picolo]

brave enough or suicidal?
You never invest all your money into one category that is rule number 0 it goes without being said.

Bitcoin would never form more than 1% of your portfolio, if you took investment advice.
However, every one of us has a gambling streak within.

If your live savings are 500$ and you pour 100$ in Bitcoin it's not a huge risk if you don't desperately need the 100$ and you can work for 5$ or more an hour.

[botany]

brave enough or suicidal?
You never invest all your money into one category that is rule number 0 it goes without being said.

Bitcoin would never form more than 1% of your portfolio, if you took investment advice.
However, every one of us has a gambling streak within.

If your live savings are 500$ and you pour 100$ in Bitcoin it's not a huge risk if you don't desperately need the 100$ and you can work for 5$ or more an hour.

That is true. I was talking about the percentage you would invest in Bitcoin continuously, as you earn.
I guess you would be comfortable investing 1% whether you earn $10K or $100K.
Some people would have higher risk appetite and higher thresholds.

[picolo]

brave enough or suicidal?
You never invest all your money into one category that is rule number 0 it goes without being said.

Bitcoin would never form more than 1% of your portfolio, if you took investment advice.
However, every one of us has a gambling streak within.

If your live savings are 500$ and you pour 100$ in Bitcoin it's not a huge risk if you don't desperately need the 100$ and you can work for 5$ or more an hour.

That is true. I was talking about the percentage you would invest in Bitcoin continuously, as you earn.
I guess you would be comfortable investing 1% whether you earn $10K or $100K.
Some people would have higher risk appetite and higher thresholds.

If you earn 1000$/month and you are able to save 50$/month but expect higher wages in the future, buying 50$ worth of Bitcoin every month doesn't seem that risky.

It's only 50$ and you are likely to earn more in the future so you will be able to save on other commodities.

[cryptocoiner]

Investing in bitcon still kinda strange idea for me. It's unpredictable.

You better start using bitcoin as money. Sell stuff and services for bitcoins. Just use it as currency. Same as dollars/euro etc

And save bitcoins. If expect them to rise in price.

[caga]

Investing in bitcon still kinda strange idea for me. It's unpredictable.

You better start using bitcoin as money. Sell stuff and services for bitcoins. Just use it as currency. Same as dollars/euro etc

And save bitcoins. If expect them to rise in price.

Maybe once the difficulty goes up and the adoption phase happens,
only then can we say that the price would not be as volatile as it is now.
That would be the best time to get in.

[Rassah]

Investing in bitcon still kinda strange idea for me. It's unpredictable.

You better start using bitcoin as money. Sell stuff and services for bitcoins. Just use it as currency. Same as dollars/euro etc

And save bitcoins. If expect them to rise in price.

Maybe once the difficulty goes up and the adoption phase happens,
only then can we say that the price would not be as volatile as it is now.
That would be the best time to get in.

What does the difficulty going up have to do with anything?

[malaimult]

lol people who bought BTC at $0.10 are golden.

Imagine a 12 year old who blew the whole $100 he had to his name that his grandma gave him for Christmas and birthdays.... HE'S not worried about how to afford higher education right now.

I don't think many people would fit this category. I do think it would be very 'romantic' to be able to buy bitcoin at the right time and have the foresight to not sell until now, I somewhat doubt that many people were able to do this

[picolo]

lol people who bought BTC at $0.10 are golden.

Imagine a 12 year old who blew the whole $100 he had to his name that his grandma gave him for Christmas and birthdays.... HE'S not worried about how to afford higher education right now.

I don't think many people would fit this category. I do think it would be very 'romantic' to be able to buy bitcoin at the right time and have the foresight to not sell until now, I somewhat doubt that many people were able to do this

A few were able to do this. If you got thousands of bitcoins for free you probably sold them at 1-5$ and if you didn't you sold them at 10$. If you had any left at 30$ you unloaded there.

It is amazing that some kept them until now!

[Flashman]

I somewhat doubt that many people were able to do this

That "able" was a thing, I first heard of it when it was first establishing value, and would have bought $100 for a "what if" back then, but found you had to know the right people, no infrastructure... I think Gox had just kicked off, but you could probably have spent $300 to get $100 into it then.

[picolo]

I somewhat doubt that many people were able to do this

That "able" was a thing, I first heard of it when it was first establishing value, and would have bought $100 for a "what if" back then, but found you had to know the right people, no infrastructure... I think Gox had just kicked off, but you could probably have spent $300 to get $100 into it then.

Why 300$ to get 100$ into it?

If you bought 100$ worth of bitcoins back then you would have been very tempted to sell after a x10 or x100

[Flashman]

Why 300$ to get 100$ into it?

Intermediaries, unless you were in US or Japan, you probably had to go through a several scammy/scummy different services like liberty reserve, and $10 or so, 5% or so each hop you'd not end up with much at end. Depending on timing it might not have been a wise decision to deal with Gox even when apparently functioning though.

If you bought 100$ worth of bitcoins back then you would have been very tempted to sell after a x10 or x100

Also very true.

[picolo]

Why 300$ to get 100$ into it?

Intermediaries, unless you were in US or Japan, you probably had to go through a several scammy/scummy different services like liberty reserve, and $10 or so, 5% or so each hop you'd not end up with much at end. Depending on timing it might not have been a wise decision to deal with Gox even when apparently functioning though.

If you bought 100$ worth of bitcoins back then you would have been very tempted to sell after a x10 or x100

Also very true.

The risk was very high and it looked likely that Bitcoin will fail soon.

Those who were really lucky were those paid in bitcoins or mined bitcoins very early on then forgot about their bitcoins

[botany]

Why 300$ to get 100$ into it?

Intermediaries, unless you were in US or Japan, you probably had to go through a several scammy/scummy different services like liberty reserve, and $10 or so, 5% or so each hop you'd not end up with much at end. Depending on timing it might not have been a wise decision to deal with Gox even when apparently functioning though.

If you bought 100$ worth of bitcoins back then you would have been very tempted to sell after a x10 or x100

Also very true.

The risk was very high and it looked likely that Bitcoin will fail soon.

Those who were really lucky were those paid in bitcoins or mined bitcoins very early on then forgot about their bitcoins

There are some who not only forgot about their bitcoins, they forgot their private keys as well.
Can't really envy their position.