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

[Gimmelfarb]

i think based on the general sentiment i have seen in Speculation over the past year or so, that MANY people are overextended here.

there was a guy on TV who claimed to have mortgaged his house to buy BTC > $1000.... lol...

[inca]

i think based on the general sentiment i have seen in Speculation over the past year or so, that MANY people are overextended here.

there was a guy on TV who claimed to have mortgaged his house to buy BTC > $1000.... lol...

The sentiment is likely due to people seeing bitcoin slide down 60% from peak in January. Hard to remain excited when it just drops. Not sure how you get any sense of whether people are over invested as well.

[gentlemand]

I can definitely afford to lose it. It would suck the big one all the same.

[bananaControl]

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?

The change came by after realizing that I should have bought those few thousand coins back in 2010 when I first thought about it - and moving away from my girlfriend.

Being on your own means that you have more time for work and can lead a much simpler and cheaper life. The funny thing is, right now I much prefer this way of living. If bitcoin goes to the moon I will still be working, but I will shift my work entirely to my own projects - no Ferraris and retirement for me thank you

[FUR11]

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

Depends on the base you're applying But yeah, there's actually no law that dictates how much Bitcoin has to go up in a single hype-cycle! It's crazy how some people take the next bubble for granted.

[podyx]

probably and may eventually invest alot more soon

If the potential gains are worth less than the potential losses you sir have made a mistake.

 

[counter]

No way man but I wish.    If I could afford to do more I would but at the moment it is just not possible.  Hopefully in a few months I'll have some extra funds to dump into Bitcoin.  

probably and may eventually invest alot more soon

If the potential gains are worth less than the potential losses you sir have made a mistake.

 

[xDan]

No, but with hindsight, I wish I had done... 

[Tony Abbot]

33 percent of my savings in. Sold my house last year which amounts to all my savings. So 1/3 in and the rest of the house money just sitting in a savings account.... I can't help but think that my money would be fairly safe parked in BTC with a sell order placed just below the market's farthest "dip" to save me in the case of a BTC disaster. Then, should things go north in a hurry, It'd be happy days.

[Brewins]

Yes

Audaces fortuna iuvat (the luck is favourable for the bold)