I PANICKED

[botany]

I just invested my life savings into Bitcoin

You should have done it with some leverage.
Go ahead and borrow.....

[SgtSpike]

Whoever is putting his life savings into BTC is a fool.  Doesn't matter what will happen (I still think BTC long term is a very good investment, but regardless).

Never invest what you can't afford to lose.

Eh, my life savings amounts to diddly.  But I'm glad I put that diddly into Bitcoin in 2011... I may retire yet!

[adamstgBit]

welcome to bitcoin.

I think you're in luck and the bull market has started again.

I hope it works out for you.

try not to panic if market goes for another test of bottom.

focus on learning as much as you can, secure your stacks, and help bitcoin succeed in wtv way you can.

good luck.

[realbtcdealers4real]

How much are we talkin?

[Unbelive]

I just invested my life savings into Bitcoin

Well done. You sold bed too?

[Wandererfromthenorth]

Whoever is putting his life savings into BTC is a fool.  Doesn't matter what will happen (I still think BTC long term is a very good investment, but regardless).

Never invest what you can't afford to lose.

Eh, my life savings amounts to diddly.  But I'm glad I put that diddly into Bitcoin in 2011... I may retire yet!

It went well, but it could have ended horribly bad.

If you invested something in 2011 you had all the time to accumulate without risking your "life savings".

I stand by what I said. BTC is still in early stages, investing more that you can afford to lose is not a wise choice, that's all I'm saying, regardless of what we can say in retrospect.

[adamstgBit]

Whoever is putting his life savings into BTC is a fool.  Doesn't matter what will happen (I still think BTC long term is a very good investment, but regardless).

Never invest what you can't afford to lose.

Eh, my life savings amounts to diddly.  But I'm glad I put that diddly into Bitcoin in 2011... I may retire yet!

It went well, but it could have ended horribly bad.

If you invested something in 2011 you had all the time to accumulate without risking your "life savings".

I stand by what I said. BTC is still in early stages, investing more that you can afford to lose is not a wise choice, that's all I'm saying, regardless of what we can say in retrospect.

i wonder which market out there is "safe" so that i can invest more then i can afford to lose so i can win with no risk.

[SgtSpike]

Whoever is putting his life savings into BTC is a fool.  Doesn't matter what will happen (I still think BTC long term is a very good investment, but regardless).

Never invest what you can't afford to lose.

Eh, my life savings amounts to diddly.  But I'm glad I put that diddly into Bitcoin in 2011... I may retire yet!

It went well, but it could have ended horribly bad.

If you invested something in 2011 you had all the time to accumulate without risking your "life savings".

I stand by what I said. BTC is still in early stages, investing more that you can afford to lose is not a wise choice, that's all I'm saying, regardless of what we can say in retrospect.

You're going wrong in saying that life savings = more than you could afford to lose.  In my case, life savings = pretty much nil.  I basically borrowed $1,000 to buy mining equipment to get Bitcoins.  But if I had lost it all, I could have still survived.  Likewise, most people can afford to lose their life savings.  It wouldn't be fun, but they could afford it.  That's why it's called savings.

I completely agree with you that no one should invest more than they can afford to lose.  But that's a completely different statement than investing your life savings.

[Wandererfromthenorth]

Whoever is putting his life savings into BTC is a fool.  Doesn't matter what will happen (I still think BTC long term is a very good investment, but regardless).

Never invest what you can't afford to lose.

Eh, my life savings amounts to diddly.  But I'm glad I put that diddly into Bitcoin in 2011... I may retire yet!

It went well, but it could have ended horribly bad.

If you invested something in 2011 you had all the time to accumulate without risking your "life savings".

I stand by what I said. BTC is still in early stages, investing more that you can afford to lose is not a wise choice, that's all I'm saying, regardless of what we can say in retrospect.

You're going wrong in saying that life savings = more than you could afford to lose.  In my case, life savings = pretty much nil.  I basically borrowed $1,000 to buy mining equipment to get Bitcoins.  But if I had lost it all, I could have still survived.  Likewise, most people can afford to lose their life savings.  It wouldn't be fun, but they could afford it.  That's why it's called savings.

I completely agree with you that no one should invest more than they can afford to lose.  But that's a completely different statement than investing your life savings.

Then we agree.   As I said my definition of "life savings" was basically something you could not afford to lose, maybe it's just me.

If you consider "your life savings" something that can vanish overnight and you wouldn't bat an eye, then sure, why not, it's not my definition of "life savings" to be honest, that's what the OP and I were referring to.

If what you meant by "life savings" is something you could actually afford to lose, then we are saying the same thing

[Wandererfromthenorth]

Whoever is putting his life savings into BTC is a fool.  Doesn't matter what will happen (I still think BTC long term is a very good investment, but regardless).

Never invest what you can't afford to lose.

Eh, my life savings amounts to diddly.  But I'm glad I put that diddly into Bitcoin in 2011... I may retire yet!

It went well, but it could have ended horribly bad.

If you invested something in 2011 you had all the time to accumulate without risking your "life savings".

I stand by what I said. BTC is still in early stages, investing more that you can afford to lose is not a wise choice, that's all I'm saying, regardless of what we can say in retrospect.

i wonder which market out there is "safe" so that i can invest more then i can afford to lose so i can win with no risk.

Who said no risk?

You should never put more than you can afford to lose, regardless of what market we are talking about (no such thing as a "safe" market anyway), let alone the riskier ones.

[Ibian]

Why are people still talking about "risk"? The tech is solid, adoption is growing at an incredible pace, the economic theory underlying the system is sound. The only real risk is that someone steals your private keys, and with an offline install that risk is pretty much zero. I can't think of a better risk/reward investment. We are literally sitting on the investment opportunity of a lifetime, and at the same time it is among the safest of investments possible. What is wrong with you people?

[madken7777]

Why are people still talking about "risk"? The tech is solid, adoption is growing at an incredible pace, the economic theory underlying the system is sound. The only real risk is that someone steals your private keys, and with an offline install that risk is pretty much zero. I can't think of a better risk/reward investment. We are literally sitting on the investment opportunity of a lifetime, and at the same time it is among the safest of investments possible. What is wrong with you people?

All the pro do not automatically translate into price increase.

Price only depends on two factors, supply and demand.
 

[Sevvero]

I just invested my life savings into Bitcoin

Idiot.

[Sevvero]

you made a good decision in my view, bitcoin is a safe investent, the rising % per year say it

Another idiot.

[kireinaha]

Try not to panic sell now if it drops.

when it drops. Investing in bitcoin in 2014 is about one of the worst investment decisions anyone could make. You'd be better off investing your life savings in Solyndra.

[Gimmelfarb]

I just invested my life savings into Bitcoin

i still notice much of this kind of sentiment. i think we may see some real despair before this market turns around. the bulls are resilient, holding on tight, and yet, for 8 months we've been unable to cross increasingly lower upside resistances. the price is being held up by a lack of sellers -- but more apparent is the absence of $$ inflows. if this continues (and it looks like it will -- we just took a shot at a reversal on the 1-day chart and it's failing), a lot of people are going to be in a lot of pain in the coming months.

[Ibian]

I just invested my life savings into Bitcoin

i still notice much of this kind of sentiment. i think we may see some real despair before this market turns around. the bulls are resilient, holding on tight, and yet, for 8 months we've been unable to cross increasingly lower upside resistances. the price is being held up by a lack of sellers -- but more apparent is the absence of $$ inflows. if this continues (and it looks like it will -- we just took a shot at a reversal on the 1-day chart and it's failing), a lot of people are going to be in a lot of pain in the coming months.

Not me. The lower it goes the more coins I get for my fiat.

[Gimmelfarb]

I just invested my life savings into Bitcoin

i still notice much of this kind of sentiment. i think we may see some real despair before this market turns around. the bulls are resilient, holding on tight, and yet, for 8 months we've been unable to cross increasingly lower upside resistances. the price is being held up by a lack of sellers -- but more apparent is the absence of $$ inflows. if this continues (and it looks like it will -- we just took a shot at a reversal on the 1-day chart and it's failing), a lot of people are going to be in a lot of pain in the coming months.

Not me. The lower it goes the more coins I get for my fiat.

that's true. personally i love it. i took my initial investment out very long ago. i just keep half in cold storage and trade the other half. cheap coins, baby. might even be able to catch some more margin call coins.....

but the people in pain, imo, are the weak bubble chasers who bought at 700, 800, 1000.... and either don't have the funds or the follow-through to average down. and frankly, i can understand being very afraid of averaging down in the current market. when has bitcoin ever seen a bear market this long? 2011 chart is brutal in % lost, but the 2014 chart looks like a trip to zero on the back of a snail...

[btcxyzzz]

Was sensible to do that 2 years ago (which I did , but now... I would not put that much. Bitcoin bubble may come in few years...

[inca]

I just invested my life savings into Bitcoin

i still notice much of this kind of sentiment. i think we may see some real despair before this market turns around. the bulls are resilient, holding on tight, and yet, for 8 months we've been unable to cross increasingly lower upside resistances. the price is being held up by a lack of sellers -- but more apparent is the absence of $$ inflows. if this continues (and it looks like it will -- we just took a shot at a reversal on the 1-day chart and it's failing), a lot of people are going to be in a lot of pain in the coming months.

Not me. The lower it goes the more coins I get for my fiat.

that's true. personally i love it. i took my initial investment out very long ago. i just keep half in cold storage and trade the other half. cheap coins, baby. might even be able to catch some more margin call coins.....

but the people in pain, imo, are the weak bubble chasers who bought at 700, 800, 1000.... and either don't have the funds or the follow-through to average down. and frankly, i can understand being very afraid of averaging down in the current market. when has bitcoin ever seen a bear market this long? 2011 chart is brutal in % lost, but the 2014 chart looks like a trip to zero on the back of a snail...

You are aware the price hit 3xx several months ago and is significantly higher now? Everyone has had ample opportunity to average down..several times!