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

[leex1528]

It looks like if you got into Bitcoins late, you lost.  Grats to those who did it early enough to make some fiat, for those that held on, I suggest you sell now so you can get max amount of money back!

[botany]

It looks like if you got into Bitcoins late, you lost.  Grats to those who did it early enough to make some fiat, for those that held on, I suggest you sell now so you can get max amount of money back!

Sell now? People who saw bitcoin go up to $1200 won't sell at $300.
They expect the next bull run to be just around the corner.

[picolo]

It looks like if you got into Bitcoins late, you lost.  Grats to those who did it early enough to make some fiat, for those that held on, I suggest you sell now so you can get max amount of money back!

Sell now? People who saw bitcoin go up to $1200 won't sell at $300.
They expect the next bull run to be just around the corner.

Bitcoin could go to 1000$ in 2 or 3 months if the USD crash and if it becomes a seller market.

[heartastack]

I bitcoined my entire bitcoin in bitcoin and all I can bitcoin is that it's been bitcoin

[Gyfts]

That's stupid. Never invest your full life savings in ANYTHING. Providing no security if things go south...For someone to invest after the crash last year, they would see and prove to themselves it was a stupid decision.

[picolo]

That's stupid. Never invest your full life savings in ANYTHING. Providing no security if things go south...For someone to invest after the crash last year, they would see and prove to themselves it was a stupid decision.

Future will tell if it was a successful trade or not but I agree you should not generally invest all your life savings in one asset if your life savings are sizable. I have seen people invest their whole wealth in an asset and do great though because they know the asset and can extract a lot of value from it.

[itod]

That's stupid. Never invest your full life savings in ANYTHING. Providing no security if things go south...For someone to invest after the crash last year, they would see and prove to themselves it was a stupid decision.

Well you have to invest it in *something*. If you invest it in currency, you have to keep it in the bank if you don't want to get robbed, and we've seen money in the bank can turn out to be really ugly really quick. Remember USA in the 1930's when 10% is confiscated or Cyprus few years ago when 30% was confiscated by the state. In USA people couldn't even open their safe deposit boxes without the IRS official who was entitled to take 10% out of them. All that in the best case scenario than your bank never fails, which also is not 100% sure.

[cbeast]

I put all my life savings into life! Bitcoin is life. 

[itsAj]

We are all invested in something.

[leex1528]

That's stupid. Never invest your full life savings in ANYTHING. Providing no security if things go south...For someone to invest after the crash last year, they would see and prove to themselves it was a stupid decision.

100% agree.  I don't care if I had a 99% chance of making money, I am not going to invest all of my eggs into 1 basket.  The simplest thing you learn when investing is this.

[Zendikar]

That is like gambling your life savings away, just not a good idea.

[Rassah]

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

Or those who understood the technology behind it, believed that there are no other serious options to replace it, and thought there was very little chance that it will fail, and a bug chance that it will take off and replace much of the financial system. There are quite a few of us who thought the concept of "cashing out" of bitcoin made as much sense as "cashing out" of dollars.

By the way, how many people have 100% of their savings invested in dollars, or euros?

[jaberwock]

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 I take the economic advices seriously then I will need to save for one decade or two before doing any investment that has real odds of giving a decent revenue. If I get mega luck and don't take long to get a new job after being fired, what would eat all my savings.

Without BTC I would be stuck forever in the same situation for ever maybe.

If I will lose anyway by playing safe, why should I play safe?

[picolo]

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

Or those who understood the technology behind it, believed that there are no other serious options to replace it, and thought there was very little chance that it will fail, and a bug chance that it will take off and replace much of the financial system. There are quite a few of us who thought the concept of "cashing out" of bitcoin made as much sense as "cashing out" of dollars.

By the way, how many people have 100% of their savings invested in dollars, or euros?

You can think of a solution to replace Bitcoin but it is not there and Bitcoin has a size that matters : if you want to safely and anonymously transfer hundreds of thousands or millions you need Bitcoin.

[Flashman]

If I will lose anyway by playing safe, why should I play safe?

That's true, I think headline inflation is massaged, and it's truly more like 5% PA, leading to losing nearly half the value of your money in 10 years, meanwhile you can get a maximum of about 2% interest in "high yield" savings accounts.

[picolo]

If I will lose anyway by playing safe, why should I play safe?

That's true, I think headline inflation is massaged, and it's truly more like 5% PA, leading to losing nearly half the value of your money in 10 years, meanwhile you can get a maximum of about 2% interest in "high yield" savings accounts.

7% inflation a year means you lose 50% of the value of your money in 10 years.

[Willisius]

If I will lose anyway by playing safe, why should I play safe?

That's true, I think headline inflation is massaged, and it's truly more like 5% PA, leading to losing nearly half the value of your money in 10 years, meanwhile you can get a maximum of about 2% interest in "high yield" savings accounts.

I am pretty sure both of your numbers are overstated. Inflation over the past year has been roughly 1.7% and interest rates on savings accounts tend to max out well under 1% (probably closer to .5%).

The return on things like bonds and stocks however are vastly exceeding inflation so if you invest your money in these kinds of investments (as you should if you have a long term timeframe) you will overall gain money after inflation

[pattu1]

If I will lose anyway by playing safe, why should I play safe?

That's true, I think headline inflation is massaged, and it's truly more like 5% PA, leading to losing nearly half the value of your money in 10 years, meanwhile you can get a maximum of about 2% interest in "high yield" savings accounts.

I am pretty sure both of your numbers are overstated. Inflation over the past year has been roughly 1.7% and interest rates on savings accounts tend to max out well under 1% (probably closer to .5%).

The return on things like bonds and stocks however are vastly exceeding inflation so if you invest your money in these kinds of investments (as you should if you have a long term timeframe) you will overall gain money after inflation

Maybe the numbers correspond to a region other than the United States?

[Flashman]

I don't care what official figure is, it's BS.

Could be wrong about what you can actually get in a savings account though, if I've seen 2% it's probably one of those $50,000+ term deposits.

[deluxeCITY]

I don't care what official figure is, it's BS.

Could be wrong about what you can actually get in a savings account though, if I've seen 2% it's probably one of those $50,000+ term deposits.

According to bankrate the highest interest rates that are publicly available (that they know about) is 1.05% APY on savings accounts. It lists one offer for a 5 year CD with a $100,000 minimum deposit with a APY of 2.4%.

The core inflation rate really over estimates inflation because people will adjust their habits when prices adjust. For example when the price of chicken increases they will buy beef instead, or when the price of gas goes up they will consolidate their trips to the store