Topic: [2017-08-28] This Swedish guy bet all his life savings on bitcoin (Read 3747 times)
I don't know whether to believe that this article is based on factual events or not but I must give credit to Mr Alexander with his calculated risk of investment its a long shot but i like it...just wonder how long we shall have to wait for our moon prices because waiting for more than a century to see prices as high as $300000 isn't on my bucket list
August 29, 2017, 05:08:10 PM
One word: stupid.
Even though it turned out good, he risked way too much.
It's the same as betting all of your live savings on red on roulette, and seeing it as a good descision after you've won. That's not how it works. It's just stupid.
Even though I'm hoping the best for bitcoin, it's just not worth the risk to put all your live savings at risk.
Even though it turned out good, he risked way too much.
It's the same as betting all of your live savings on red on roulette, and seeing it as a good descision after you've won. That's not how it works. It's just stupid.
Even though I'm hoping the best for bitcoin, it's just not worth the risk to put all your live savings at risk.
I disagree, investing in something is completely different than gambling on the green felt.
Investing such a big chunk of the bankroll might be irresponsible from a pure management point of view.
By the way, good call.
August 29, 2017, 05:03:05 PM
This guy had some balls. Paid off though. Now he's living the life
is it more insight or a random luck? bit of both, but luck seldom comes to people with disastrously bad ideas
August 29, 2017, 04:20:01 PM
I find it quite worrying and dangerous if someone is literally 'betting' his entire life savings on something. It did work out well for him, but what if he at some point in the future gets to make the same decision again?
Not everything can endlessly work out in his advantage. I am pretty sure that now he has done it at least once, it's quite likely for him to do it again. If things don't play out as planned, he will be facing a very hard life lesson.
Not everything can endlessly work out in his advantage. I am pretty sure that now he has done it at least once, it's quite likely for him to do it again. If things don't play out as planned, he will be facing a very hard life lesson.
August 29, 2017, 01:23:19 PM
My number 1 rule is that I never invest more than 50% of my savings into whatever asset or stock. I am pretty firm when it comes to these self made rules, because I know that I am not going to break them, period. I ended up investing like 30% of my savings into Bitcoin back in the days, and the results are very pleasing. As we speak, my my wealth consists of 70% Bitcoin, and around 30% savings. The huge difference comes mainly from the fact that Bitcoin increased dramatically in price very recently.
August 29, 2017, 01:13:22 PM
Same with OP, I would have done the same but I just graduate from college and my life savings were just actually spare change from my allowance back then. However, if I only knew about bitcoins back in 2009 and bought even just $10 worth, I would have been a millionaire today. Well, nobody really predicted how bitcoins will be this successful back then. Some just really got lucky by investing into something really uncertain.
August 29, 2017, 12:51:29 PM
By the way, he is still working for his previous employer. I did not escape to an island or up on a mountain.
He believes Bitcoin will reach higher prices in the future and he seems to be waiting for the good moment to retire for good.
He believes Bitcoin will reach higher prices in the future and he seems to be waiting for the good moment to retire for good.
August 29, 2017, 08:50:45 AM
nice gambler, if her can live with the bumpiness, he may earn a lot money. I think we are still at early stage of up trend for bitcoin.
August 29, 2017, 07:52:24 AM
One word: stupid.
Even though it turned out good, he risked way too much.
It's the same as betting all of your live savings on red on roulette, and seeing it as a good descision after you've won. That's not how it works. It's just stupid.
Even though I'm hoping the best for bitcoin, it's just not worth the risk to put all your live savings at risk.
Even though it turned out good, he risked way too much.
It's the same as betting all of your live savings on red on roulette, and seeing it as a good descision after you've won. That's not how it works. It's just stupid.
Even though I'm hoping the best for bitcoin, it's just not worth the risk to put all your live savings at risk.
So each its own I guess. He had the guts to put all in and gamble with bitcoin and it payed off. But I don't know if I want to take the same route as well, very complicated and for sure it really depend on the individual. He is in the IT industry, I'm sure he made careful study of bitcoin market before really putting all his life savings into it.
Quote
"He downloaded the technical description and the program code for the currency, and used all his knowledge and experience in studying the material."
Maybe he saw something that bitcoin was really a revolutionary and one of a kind that time, that's why he liquidated all of his stocks and went all in. It seems to me though that this is not the first time, there are really early adopters who really also went everything and now they are reaping the rewards. Some are really stupid but just like what Andy Grove of Intel used to say, "only the paranoid survive". LOL.
August 29, 2017, 07:41:22 AM
One word: stupid.
Even though it turned out good, he risked way too much.
It's the same as betting all of your live savings on red on roulette, and seeing it as a good descision after you've won. That's not how it works. It's just stupid.
Even though I'm hoping the best for bitcoin, it's just not worth the risk to put all your live savings at risk.
Even though it turned out good, he risked way too much.
It's the same as betting all of your live savings on red on roulette, and seeing it as a good descision after you've won. That's not how it works. It's just stupid.
Even though I'm hoping the best for bitcoin, it's just not worth the risk to put all your live savings at risk.
August 29, 2017, 07:38:12 AM
This guy had some balls. Paid off though. Now he's living the life
August 29, 2017, 01:22:54 AM
My personal note: I was almost going to do the same back then but my life savings were very very little 
Four years ago, Swedish expert programmer Alexander Bottema went from deep skepticism to considering bitcoin as an innovation with similar implications as the internet itself. In an exclusive interview, he reveals what happened after he went all in on bitcoin, and shares how other investors can walk in his footsteps.
Read the interview @ http://nordic.businessinsider.com/this-swedish-guy-put-all-his-life-savings-into-bitcoin--four-years-later-his-net-worth-has-grown-100x-2017-8/
Four years ago, Swedish expert programmer Alexander Bottema went from deep skepticism to considering bitcoin as an innovation with similar implications as the internet itself. In an exclusive interview, he reveals what happened after he went all in on bitcoin, and shares how other investors can walk in his footsteps.
Read the interview @ http://nordic.businessinsider.com/this-swedish-guy-put-all-his-life-savings-into-bitcoin--four-years-later-his-net-worth-has-grown-100x-2017-8/
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