I PANICKED

[romerun]

your life saving stay the same, just different currency

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[Ibian]

So you "invested" your life savings in something that is not an investment?  
Panic is an appropriate response then. Very, very, risky move in my opinion.  

I see you saying that a lot. You are still wrong about it. Miners invest in mining equipment. Everyone who doesn't mine buy coins from miners, that is, we invest in the miners themselves. Net result is that everyone who holds any amount of bitcoin, however big or small, has invested in the network itself. Now you might not think of it as an investment or treat it as such and that's fine, but it is.

I understand your point, and I do agree that you are invested in bitcoin and the network just by owning some. What makes it risky is the perception that bitcoin is specifically some sort of investment. It was not conceived of as such and it's strengths are not in the area of a speculative vehicle. Bitcoin will gain in value if it catches on as a payment system, but it may not catch on. That makes it useful to buy some and spend it on online purchases, but risky to hold unless you are going to be attentive. I am also concerned about user Ibian because he claims he put his "life savings" into it. That is a terrible investment strategy. Putting all your money into even a safe investment is a bad idea. He should diversify and mitigate some of his risk. Otherwise his future depends entirely one the outcome of bitcoin. And that is entirely unclear.

Thanks for your concern, but the future is clear to me. I don't know what the price will be tomorrow or in a month, but the big picture is obvious: Up. I understand the tech, the economic theory, the cultural and political problems that will inevitably drive the price up. There is no risk, only impatience. There is also nothing else that can make me life-changing money from what little I have now.

[Zawamiya]

I just invested my life savings into Bitcoin

Good choice, now see it raise

[HarHarHar9965]

I just invested my life savings into Bitcoin

So you panic bought? How did that work out for you?

I'm glad I put some dough into bitcoin when I did. But life savings? That's crazy talk. Maybe for a young student or something. I hope you don't have a family to take care of, if serious.

[piramida]

What makes it risky is the perception that bitcoin is specifically some sort of investment. It was not conceived of as such and it's strengths are not in the area of a speculative vehicle. Bitcoin will gain in value if it catches on as a payment system, but it may not catch on.

Bitcoin has much more and wider possible uses than just an internet cash. It is a one and only widely distributed incorruptible consistent database, no other human technology comes close. So I think internet cash aspect was built-in just to get it rolling - needs to have value so the network will be created - once it is created, the value of the blockchain technology itself will be growing with every new application. Mostly everything that we do requires a ledger, so we have not yet started appreciating even the tiniest part of what blockchain can do to move our ways of doing things to a new level.

[Swordsoffreedom]

I just invested my life savings into Bitcoin

Welcome to Bitcoin Blatchcorn
I kid but in all honesty I respect you for it and hope this works out well for you, which it should seems like a no brainer to me if you hold for the longest time.
Merchant adoption, increasing awareness, it just needs a larger userbase which will take more time.

[Erdogan]

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?

This is confirmed.

[ensurance982]

The most important thing is not to go long on leverage, in my opinion. We've seen so many flash crashes in the past that such a position may completely wipe out your investment and you'll be left with 0 BTC. Also, don't borrow money to buy BTC in general, you may not be able to pay back your loan!

[HarHarHar9965]

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?

Mind-blowing. "The only real risk is that someone steals your private keys" -- really? No speculative risk at all. To the moon is the only option, yes? One of the safest investments possible? Bitcoin may be the blue chip of cryptocurrency, but you clearly know very little about the scope of investment assets....

[adamstgBit]

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?

Mind-blowing. "The only real risk is that someone steals your private keys" -- really? No speculative risk at all. To the moon is the only option, yes? One of the safest investments possible? Bitcoin may be the blue chip of cryptocurrency, but you clearly know very little about the scope of investment assets....

when the risk of not taking the risk is gr8er then the risk of taking the risk you have to take the risk.

risky business

[minerpumpkin]

I just invested my life savings into Bitcoin

Ha, nice play! Be careful though, if you really have done so! Keep at least some FIAT ready for sour times. And everyone, don't invest loaned money! If something goes wrong and you can't pay your lenders back, you're screwed! This is a dangerous game!

[messibtc]

If you want to invest in bitcoin you would better buy some of them gradually and not all together.

[chairforce1]

when the risk of not taking the risk is gr8er then the risk of taking the risk you have to take the risk.

+1MM

[CryptoCarmen]

I just invested my life savings into Bitcoin

Good choice, now see it raise

You seems to do it right about perfect time

[itsAj]

So you "invested" your life savings in something that is not an investment? 
Panic is an appropriate response then. Very, very, risky move in my opinion.   

I see you saying that a lot. You are still wrong about it. Miners invest in mining equipment. Everyone who doesn't mine buy coins from miners, that is, we invest in the miners themselves. Net result is that everyone who holds any amount of bitcoin, however big or small, has invested in the network itself. Now you might not think of it as an investment or treat it as such and that's fine, but it is.

This is not what he is saying. He is saying that bitcoin itself is not an investment as it is very risky and it is far from certain that it will rise in price over the long term.

IMO it is nothing short of reckless for anyone to invest their life savings into something half as speculative as bitcoin.

[Ibian]

So you "invested" your life savings in something that is not an investment? 
Panic is an appropriate response then. Very, very, risky move in my opinion.   

I see you saying that a lot. You are still wrong about it. Miners invest in mining equipment. Everyone who doesn't mine buy coins from miners, that is, we invest in the miners themselves. Net result is that everyone who holds any amount of bitcoin, however big or small, has invested in the network itself. Now you might not think of it as an investment or treat it as such and that's fine, but it is.

This is not what he is saying. He is saying that bitcoin itself is not an investment as it is very risky and it is far from certain that it will rise in price over the long term.

IMO it is nothing short of reckless for anyone to invest their life savings into something half as speculative as bitcoin.

It's an investment too if you decide to treat it like that. Bitcoin is not whatever any one person want it to be, it is what the code specifies. What people decide to do with it is another matter.

[itsAj]

So you "invested" your life savings in something that is not an investment? 
Panic is an appropriate response then. Very, very, risky move in my opinion.   

I see you saying that a lot. You are still wrong about it. Miners invest in mining equipment. Everyone who doesn't mine buy coins from miners, that is, we invest in the miners themselves. Net result is that everyone who holds any amount of bitcoin, however big or small, has invested in the network itself. Now you might not think of it as an investment or treat it as such and that's fine, but it is.

This is not what he is saying. He is saying that bitcoin itself is not an investment as it is very risky and it is far from certain that it will rise in price over the long term.

IMO it is nothing short of reckless for anyone to invest their life savings into something half as speculative as bitcoin.

It's an investment too if you decide to treat it like that. Bitcoin is not whatever any one person want it to be, it is what the code specifies. What people decide to do with it is another matter.

The amount of risk that you would be taking when you put money into bitcoin would dictate that it is something that is speculative.

[Ibian]

So you "invested" your life savings in something that is not an investment? 
Panic is an appropriate response then. Very, very, risky move in my opinion.   

I see you saying that a lot. You are still wrong about it. Miners invest in mining equipment. Everyone who doesn't mine buy coins from miners, that is, we invest in the miners themselves. Net result is that everyone who holds any amount of bitcoin, however big or small, has invested in the network itself. Now you might not think of it as an investment or treat it as such and that's fine, but it is.

This is not what he is saying. He is saying that bitcoin itself is not an investment as it is very risky and it is far from certain that it will rise in price over the long term.

IMO it is nothing short of reckless for anyone to invest their life savings into something half as speculative as bitcoin.

It's an investment too if you decide to treat it like that. Bitcoin is not whatever any one person want it to be, it is what the code specifies. What people decide to do with it is another matter.

The amount of risk that you would be taking when you put money into bitcoin would dictate that it is something that is speculative.

So what about it?

[dropt]

IMO it is nothing short of reckless for anyone to invest their life savings into something half as speculative as bitcoin.

That's all relative.  If I make $150,000/yr but only have $1000 in "life savings" and decide to invest it all into Bitcoin, big deal.  Likewise if I'm 18 and my "life savings" is $2,500.  You'll have more than enough time to recoup those losses.

[HarHarHar9965]

If I make $150,000/yr but only have $1000 in "life savings" and decide to invest it all into Bitcoin, big deal. 

What kind of dope makes $150,000/yr and has $1000 in "life savings"? I suppose that type of person would dump their last 1000 bucks into magic internet money....