Have you invested more than you can afford to lose in Bitcoin?

[bitleif]

I'm on the edge but not over the edge. And that's where I feel most comfortable TBH.

[minerpumpkin]

I'm on the edge but not over the edge. And that's where I feel most comfortable TBH.

Ha, well if you're someone who's rather regretting missed chances, than chances you blew, this is the way to go. It's a bit of my mindset, as well. I don't see anything as potential as Bitcoin these days, so I just go and say "Hey, if this really didn't work out, at least I've tried, it would be far worse if it worked out and I regretted not investing in it"

[Odalv]

Invest 1 month salary. You will have to work 1 month longer or you can retire years earlier.

[minerpumpkin]

Invest 1 month salary. You will have to work 1 month longer or you can retire years earlier.

If you're really believing in Bitcoin, you can invest more than that, in my opinion. But you should be really certain if you invest more than a years' salary in my opinion. You will be able to make that back in case things go wrong, but more may put too much of a dent in your savings-plans.

[isov]

I can afford to lose my investment without going bankcrupt but it would totally suck balls if that happened. If I would sell right now I guess I would pretty much get my initial investment out but I'm no doing that. It's either going to be awesome brilliant idea that I put some money in to btc or otherwise I'll go down with the ship I guess. Lets hope that better days are still to come my friends.

[minerpumpkin]

I can afford to lose my investment without going bankcrupt but it would totally suck balls if that happened. If I would sell right now I guess I would pretty much get my initial investment out but I'm no doing that. It's either going to be awesome brilliant idea that I put some money in to btc or otherwise I'll go down with the ship I guess. Lets hope that better days are still to come my friends.

Ha, everyone doing this is helping keeping the ship afloat. Those 'bagholders', what a horrible term , are the long-term support. A lot of people also aren't willing to cut their losses, and rather wait for a recovery: Usually a bad thing when it comes to trading, but for Bitcoin this may save the price.

[ThatDGuy]

If that 30% is answering honestly, that's a bit scary.

[adaseb]

I only invested in my GPUs. Every single BTC I own is made from mining and trading.

The rigs are all paid for at the moment.

[oceans]

No, never have and never will. I don't see it wise to invest more than I can afford in bitcoin as even though I believe bitcoin has a long way to go yet and I don't see if failing any time soon you never know what could happen as nobody can predict the future so I always stick to what I know I can afford to lose rather than spend loads and end up losing everything if things do go bad.

[romerun]

what can I say, 99.99% in bitcoin, never had a real job for 3 years. If btc fails, I just have to get back to work, party ends, no big deal,

[Torque]

Invest 1 month salary. You will have to work 1 month longer or you can retire years earlier.

It amazes me that more guys are willing to invest "at least 2 months salary" on an engagement ring (as the public advice goes), but not even think about doing the same with bitcoin.

Especially when the divorce rate is heading north of 60%, lol.  And tens of thousands more spent on student loans, for college degrees that will never earn back their ROI.  You'll spend tens of thousands of lost dollars on your kids before they even reach their 18th birthday.  Even more if you get a divorce and your ex has you paying more way child support than you can adequately support, and left you wondering just exactly where all that money is going.  You'll buy a new car, just to see its value drop by thousands of $$ just by driving it off the lot.

The disillusion of priorities.  And people wonder why they're not wealthy.  Go figure.

[Chuckee]

invest your money in a low cost index fund with a ratio of bonds, depending on your age and how near retirement you are. if you invest a substantial amount of your savings into bitcoin, you will never be able to retire!

give up your false hopes for a recovery!

[bitebits]

I have cut all my expenses to the bones and put all the resulting spare money into bitcoins - I rarely eat meat and I literally haven't bought anything for myself other than food and bitcoins for a very long time now. I've also sold a lot of things that I never used anymore and put the money from that into bitcoins as well. These activities have resulted in a surprisingly large amount of wealth that I would never have imagined that I'd be able to accumulate.

So, no, I have not invested more money than I can afford to lose. It would not be fun for me if btc goes to zero, but I will not end up on the street or be in debt. On the other hand I have to gamble on this with a large enough bet that it can potentially change my life for the better. If you never do anything risky in life you'll never win either.

Great story! I wonder whether bitcoin made you change your lifestyle (temporary), or you changed your lifesyle because of chasing early retirement/minimalism?

[Wilhelm]

The only time you should borrow money to invest is if you have insider information.  So legally never.

Not quite true.

If you trade using a trading platform and want to short you essentially borrow money.
This does not dismiss the fact that you must at all times have enough margin on account to cover your losses.
With correct money management it isn't a problem.

Taking a loan from a bank and putting it into Bitcoin is a bad idea unless you want to be a debt slave the rest of your life.

[minerpumpkin]

If that 30% is answering honestly, that's a bit scary.

Oh yes, this is terrifying, although I believe quite a few votes are fake ones that just try to mess with people. But even if half of them are false, the number of people who are 'at the edge' right now has to be extremely high! This is worrying, but not that surprising. People are greedy and a lot of people here not very experienced when it comes to investing.

[blumangroup]

Investing money is one thing but being greedy is not good. Looking at the yes votes some people are in for a rough ride.

this is like the definition of investing tho, lol

No a rough ride is having to sell off your investements because you cannot pay your rent.
Investing in a smart and controlled way let's you sleep at night since you can still pay your bills and allow for some unexpected circumstances.

Exactly. Generally speaking people should only invest money that they will not need for a very long time (years). They should also diversify their investments so that if one does very bad, it will not ruin their overall portfolio. Chances are they will not get rich doing this but they will also not go broke either.

[UnDerDoG81]

Definitely not more than I can afford to lose! If we go down (i.e. sink completely) at this point, it will hurt. Quite a big bit, that's for sure. But I will still have conservative reserves, no outstanding debts to pay and am in no imminent danger of living in a cardboard box.

This.

As I said, I am 70% in. I bought them @680 and @780 (and just a few @250). The money was on the bank for 2 years and brought me about 1000 bucks a year. Thats rubbing. Thats nothing. I would prefer to keep my money under my bed instead of giving it to the banks. So I put 70% in BTC. I invested it because I know I wont need it in the near future. And as I said, I dont want to let it on the bank account. If I lose it, it will hurt. But it is not the end. Life will go on. It is only money. It comes, it goes. And it will not change my life if I will lose it/BTC goes to zero. So I wont sell it, no matter how deep BTC goes. I´ll sink with the ship. Have them BTCs on a paper wallet.

7-8 months ago, as I bought them, I was very worried and was checking BTC every hour. But after time passed, I stopped worrying more and more. Now I dont even check the BTC price daily on the internet. I have a BTC widget on my android phone that shows me the actual price.

[Wilhelm]

Fun thing I have >50% of my money in Bitcoin, but this is only due to the rising price of Bitcoin.
Hopefully I will soon (bubble) have 1000% more money in Bitcoin than fiat  

Currently I'm trading to earn more and have stopped putting more fiat in.

[Sophokles]

I´ve invested 70% of my savings. I´ll sink with the ship, I don´t care. Without taking risks you never will have success.

Honestly, this.  The bitcoin winners will be in this circle, while the rest of the "diversified investment crowd" will make some money but will be going "Damn, if only I had invested 5X more at the time....shit".  

Remember, bitcoin gets 3x-5x orders of magnitude more expensive with each run up.  So get it while it's cheap NOW.

Not really.
1 order of magnitude = factor of 10

[btcformat]

I did once but luckily I have recovered from all the losses, won't gamble again.