Topic: Anyone else HAVE most or maybe ALL of their money in btc/crypto? - page 5. (Read 5595 times)
It is not a wise decision to store all your asset into one investment as you always need a back up plan if and when those investments gets back fired.Let me tell you a story ,hope you remember the financial meltdown ten years back,people have invested a lot of hard earned money in stock and when the stock market got hit by the recession majority of the people lost their shares and just think what if they invested everything into it,they should have filed for bankruptcy.So always diversify your investments for a better and safe growth.
I have 30% of my money invested to cryptocurrency. I can see that there is a lot to profit in venturing in this industry but I am still a bit cautious to not put all my eggs in one basket so I only invested part of my money to crypto and others to investment outside cryptocurrency. At least if one fails, the other can redeem it.
Nope, and I don't think I'll ever do. The reason being it feels insecure. I actually want my money (most of it) stored in my bank, I like the services my bank offers and the security around it. Also I don't wanna risk Bitcoin prices going down, which means all my fortune is suddenly worth 20% less. When I have 1000$ in my bank, I know for sure it is 1000$ and not 800-1200$.
@CoinCidental are you implying that you have invested all your money in crypto currency if so i would like to know what all coins you have invested in and how amount of coins do you have ,investing everything you have needs some bold and gutsy decision making and only by taking risk you could gain anything.Since i am not a risk taker i am playing it safe and i have my investments here and there in good long term investment.
More and more people will end up with insanely lopsided amounts of their wealth in crypto by doing nothing and waiting. The question is in that scenario could you bring yourself to diversify? What else is out there?
No much, government bonds are nothing but useless IOU, the stock market is nothing but a casino where only the big fish makes money, gold and silver are stagnant, cash and anything similar loses value every second, real estate may be an option but you need big capital, so there are not many options. 
More and more people will end up with insanely lopsided amounts of their wealth in crypto by doing nothing and waiting. The question is in that scenario could you bring yourself to diversify? What else is out there?
i have like 80% of my money on cryptos, mostly because the crisis in my country (venezuela), i have a work into the informatic world in an small company, so i use my montly sallary for normal debs, since i know crypto world, i have been trading and earning even more from trading than my work, off course small profits but from where i am, thanks to inflation, thats a lot of money, i earn 40$ in my work and i earn like 50$ montly trading, i think it work for me, having a job and trading has a "proffesional" hobby to have a decent income of money.
my opinion is: cryptos are the new way to introduce normal people to the exchange world.
my opinion is: cryptos are the new way to introduce normal people to the exchange world.
I'm nowhere near close to have most or all of my money in cryptos of any kind. I have some wealth in them but it is far from being anywhere close to a significant chunk of my net worth. There is no reason to be that involved with cryptos, and there is way too much volatility to have a large amount of your money in anything like Bitcoin and not being playing the market 24/7.
Then again though, I have a lot relatively speaking, so maybe I'm overestimating what others have invested in their own right.
Then again though, I have a lot relatively speaking, so maybe I'm overestimating what others have invested in their own right.
Nah, I woulodn't put that much faith into all the business relating to cryptos, I understand that some people do swear by it and say that the banks are out to get you or something but I just don't get how people could put faith in this when they know the bubble for these cryptos and Bitcoin is going to pop at some point. When is the question that we don't know the answer too.
I would advise not doing this bud, you wouldn't want to lose everything you have, banks may not make you money but you're not going to lose all of your hard earned money in a bank so -- yeah.
Good luck though, wish ya the best.
I would advise not doing this bud, you wouldn't want to lose everything you have, banks may not make you money but you're not going to lose all of your hard earned money in a bank so -- yeah.
Good luck though, wish ya the best.
Yes, as of January this year I am 100% in BTC and 9 other alt coins, and have more than quadrupled my investment. No one coin is more than 25% of my portfolio. I left the stock market which is tougher to get such big gains in. This was a gut wrenching decision for me, but I understand most block chain technology better than stocks. One reason I like the alt-coins is you can essentially get in coins at the VC stage. With stocks, by the time the stock IPO's all the easy money is made. VC's make the big big money. Sure, many of these alt-coins won't make it, but it only takes one.
I truly believe we are upon a blockchain revolution, and I plan on riding it as far as I can. Chaos seems to be rising in the world and that helps the block chain revolution take off. Now that being said, if things start to look a little too bubbly I will scale back some into to Fiat. But I have a pension coming my way when I retire so I can take more risks then most. Good luck everyone. You got to be in it, to win it.
I truly believe we are upon a blockchain revolution, and I plan on riding it as far as I can. Chaos seems to be rising in the world and that helps the block chain revolution take off. Now that being said, if things start to look a little too bubbly I will scale back some into to Fiat. But I have a pension coming my way when I retire so I can take more risks then most. Good luck everyone. You got to be in it, to win it.
I don't know why anyone would have all of their money in any form of crypto, but for some people I've seen they have a good chunk of their money in Bitcoin or other cryptos and trade them relatively constantly. Not exactly the best move in my opinion, but if it works for them I won't argue.
Right now anything I earn from cryptos I'm keeping in a crypto form, no point trying to convert it right now. At least not while you can still ride the bull trend.
Right now anything I earn from cryptos I'm keeping in a crypto form, no point trying to convert it right now. At least not while you can still ride the bull trend.
dear taxman i have x% of my money in bitcoin and have not been paying my taxes, i am declaring this on public forum that a lot of you 3 letter agencies are watching so you can come after me and screw me over. thanks for your services. <3
I suppose it depends on your jurisdiction or your willingness to participate in evasion. Bitcoin is not an interest bearing instrument, so there are no taxes to be paid on interest. If I buy something with BTC, the merchant will slap sales tax on the cost of the purchase. If I exchange my BTC for fiat, I may or may not be liable for capital gains tax. Taxes paid or not applicable.
As far as I know, the bitcoin you are holding now, regardless if you earned it, is not yet taxable if it is in bitcoin form. At the moment you convert it into fiat, then that money is then taxable. Correct me if I am wrong, I just read this information weeks ago from this forum.
I agree that we also pay taxes if we purchased something from a merchant, that is if the merchant/ business is registered legally, which is called the value added tax. Bottom line, we are still paying tax in an indirect manner.
i don't change all of my money to btc or other crypto because i still need my money to fill my need in my real life and i only use a little part from my money in btc and the rest i get bitcoin by doing some work in online jobs. i think its not good to exchange all of our money into btc because we have real life and we need that money to buy something.
yes there are people who are investing a lot of their salary in bitcoins.on the other hand it will happen that the price of bitcoins is increasind day by day,so it is predictable that many people are keeping their btc.it will be not any surprise if the people who are in the signature campaign are earning through signature campaign.
Sold a bunch of useless stuff that just gathered dust and used that money to buy bitcoins a year ago.... everyone said I was bonkers and were
wasting good money. I have since tripled the money I invested in BTC and some odd Alt coins and these same people are phoning me for some
advice on doing the same. This gives you that "told ya so" feeling, every time this happens.
wasting good money. I have since tripled the money I invested in BTC and some odd Alt coins and these same people are phoning me for some
advice on doing the same. This gives you that "told ya so" feeling, every time this happens.
I'm not also buying that we should put all our money in bitcoin or any other crypto out there. What if this bubble burst? What will happened to you if you have all money in there? Safe to put around 10% as other poster said above, at least if you got busted, you still have money left for you to invest to others like real estate or stocks.
I have at least my half money in BTC and the rest of them in cash. And if something will happen, I will have money to survive cash or BTC 
It's a good way to be sure that you'll have money no matter what.
It's a good way to be sure that you'll have money no matter what.
No i dont have all of my money in bitcoins or crypto currency as i am bullish on bitcoin but i wont be taking risk of my life, i have my money split in between gold, fiat currency and bitcoin.
Or is it just me lol?
Can't complain thesedays, fat stacks just getting fatter
Can't complain thesedays, fat stacks just getting fatter
Lol, but you are not the only one involved in this as I am happy I didn't sell earlier that what is being witnessed these days, it would have been the worst financial decisions I would have made till date but I am here sharing this testimony with you. We are aiming higher and higher.
It doesn't make sense to go all in on anything. That's the biggest mistake one can make in his/her financial life.
Always make a portfolio, divide your wealth in various assets. Bitcoin maybe one of them. It maybe the major one or the minor one. It all depends on the risk you are willing to take.
I am not much of a risk taker so I keep it around %10.
That should be the principle of a trade or investor. Meanwhile, I put 20% of my savings in bitcoin since I see its potential to rise more than we could expect. It's just a matter of time in order to reach that and I don't see any reason for bitcoin to volitile again as I see too many good news in crypto currency. Always make a portfolio, divide your wealth in various assets. Bitcoin maybe one of them. It maybe the major one or the minor one. It all depends on the risk you are willing to take.
I am not much of a risk taker so I keep it around %10.
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