Topic: $50k to Invest - Convince Me! - page 4. (Read 9104 times)

I can add to your argumentation that you can travel with your wealth stored in a brain wallet and it's great to wire money

free advice: people on this forum will only push you to benefit their own position. so the general rule (around here) is: bullish always, UP UP UP! this is a forum full of holders (some of them with heavy bags)....

The cost to have the infrastructure running and electricity for mining (as well as confirmation) aren't cheap. The cost for miners is not cheap also, which indirectly guard against 51% attack.

Nice argumentation, I agree

+1

Lots of people think that Bitcoin is great to do payments. I'm not sure if payment-protocol is the perfect use-case for Bitcoin.
But what I do know is, that Bitcoin is great in what it was intentionally ment to be. Good for hoarding. Good to put your savings away.

Costs you 0.- to hold it over years, compared to other commodities

The clue is that bitcoin needs to attract people, but it's only attracting people if the price is right.
And the price is only right if the chart is right.

The difference between the .com bubble and the Bitcoin bubble is that the .com companies burn money every day (because they have to pay bills, employees..... ).
The Bitcoin value doesn't get burned away by just sitting there. It only goes down if people sell and quit with Bitcoin. If more people leave than enter.

I'm here to stay

Start a thread asking how many people regret not getting into BTC when they first learned about it.  Then ask them how many would still invest today and I have a feeling you will begin to have a clue of how Big BTC could be. 

I'd look for all different kinds of ways to invest not just in buying and holding BTC itself.  Ofcourse I'd have a hefty stash of coins, I just think their are other opportunities to bad had.

Bitcoin has many other competitors out there more than Paypal. And governments around the world are doing everything they can to discourage its usage.

I really think Bitcoin is going up. But of course there's a big risk.

I'd invest $50k only if I had $1M+, to be honest.

Bitcoin market cap is 7.7Billions it could reach hundreds of billions of market cap of today's dollar considering the potential

For exemple, Paypal valuation is 40Billions

Seem like everyone giving you advice think bitcoin still go up many folds over the foreseeable future.

Beside dotcom bubble which make a small number of early investors extremely wealthy, I can't think of any investment that will go up exponentially for late investors.

If you set buy orders you need to block some money on exchanges which is kind of risky

I have no problem with buying over the course of 3months 6months and a year as it may reduce your variance

Whoever is interested in longtherm investing in Bitcoin should buy longtherm. As you know Bitcoin is volatile, if you buy several times you avoid buying at tops. You get more some sort of an average price. But since Bitcoin has a golden future (maybe in 5 or 10 years, hopefully sooner) you will be paid very well.

Spread your investment over a longer period and set some buy orders at redicculose low levels (for example this 340 USD). You might be lucky and a spike down gets your order fullfilled.

...

@ JessyMatt

If $50,000 is a BIG part of your net wealth AND you were scared by the price volatility over just one weekend, then I would suggest that you not put all 50k in BTC...

Spread some of your money into other things, you will likely sleep better.

***

But, on Thursday I am going to a Meetup to learn more about BTC and do some buying myself...

I got a little scared over the weekend though...was going back and forth!

Not looking to gamble. I'm looking at bitcoin as a long term investment. I just don't know how solid that investment will be!

I'm thinking similarly. Once we crack this 610 resistance, we are headed to the 700s!

Sellers are exhausted here. I don't think we'll see under $500 for a long time, if ever.

Your money lent out on BFX is not that safe. Certainly not without risk. Lots of swaps borrowed, not so many bids in the order book...

If you believe in bitcoin, just buy some and put it away in cold storage.  These sites that are lending bitcoin and paying interest are just too risky.  There have been plenty of scams from various people over the years.  Plenty of people who thought their security was good and it wasn't.  Plenty of people who just made silly mistakes and lost coins (e.g. paying 20 BTC in mining fees because they were using raw transactions and didn't understand change).

I am not sure what exactly Adam Smith is trying to say above (e.g. "pay news to bitfinex from time to time"), but I would say that if any third party has control of your coins, you do not own them and you take the risk of being Gox'd because you do not own the coins - you have someone who OWES you coins and you are creditor to them.  And good luck getting them back if they Gox you. 

In short, if you need to be convinced, don't do it.  If you want to hear the pros and cons to help you decide, probably best not to do it.  That said, there are plenty of reasons that bitcoin has a lot of potential to appreciate over the years and many people believe it will, but it could also go to zero, so it is risky.  There are a ton of articles dealing with the pros of bitcoin all over the place, if you think they are accurate, buy.

:-)

You can make a lot more if you were lending on these forms.