I think you'd have to be retarded to play your life savings on it. The advice any financial adviser would give you, and I think its good advice, is diversify.
Friendly retard here, chiming in: Nearly all my friends and colleagues listen to their financial advisors. Financial advisors' goals are to "preserve your capital, minimize risk". Unless you are less than 3 years from retirement, this is actually the worst strategy you can do. You need to get that money working for you, growing as fast as possible. Without risk, there's no reward. Just stagnation. And that's what's happening to my colleagues, year after year.
They make a measly 5-10% on their money, on good years, if that. Putting it in a couple of good tech stocks (I personally love great american companies that make kick-ass products or services like $AAPL) makes it double or triple every few years. And you don't care about dips or recessions because 3 years tends to clear those up. Don't day trade, that's a full time job. You need to pick a couple of stocks from companies you believe have wind in their sails and go all in on those. If you do, and you are successful, you will have made far, far more money than by investing in mutual funds or savings bonds or whatever "safe" investments. If you fail, well, you have time to recover, or just hold and let it recover. Just don't pick something like BlackBerry AFTER the iPhone was announced. You know? Keep an eye on things, disruptive things, and make a decision to switch to another stock if you have to.
The more you diversify, the less risk you have, the less results you'll have. Mix a bunch of colors together and you get brown.
Something with potential like bitcoin rarely ever comes around, let alone something solid like this. If you aren't affected by FUD and take a good hard look at how bitcoin really works, you might come to the conclusion that it is here to stay. If you do, then this is an incredible investment. You can lose your entire investment in the worst case scenario, but the sky is the limit for how big it can get if adoption increases. Remember, market cap of Bitcoin is a measly, paltry, pathetically small 1.5 Billion USD. It's like we are at the early stages of the "early adopters" phase of the Technology Adoption Lifecycle. The Chasm hasn't been crossed. Add your own famous book quote here.
Anyway, if you want to take your wealth to the next level, saving money isn't enough. You need to make moves that can potentially bring you to that next level. You have to take some risks. And man, to me, Bitcoin has so many things going for it.
Right now, I'm just a retard that invested 25% of his life's savings into Bitcoin. In a few years, I'll either be "that retard that invested 25% of his life's savings into Bitcoin and lost it, had to work extra hard to make it back", or I'll be "that retard that invested 25% of his life's savings and became a multi-millionaire, had the good life, donated millions to charity too.". I like one of those two outcomes more than the status-quo "the guy that worked hard, managed his money but took no real risks, eventually retired, average everything.".
TL;DR: Invest in Bitcoin. (Aren't you glad I didn't say "YOLO")
UR "no post" user as i am. But one of best i red ever on this forum since April - and I am reading few hours daily.
I totally agree with you on "average joe".
Lets' say it is 40% chance to 1BTC=$10K in 15 years + 40% chance to 1BTC=$100K in 5 years + 20% chance to 1BTC=$0.00 in 1 year - i think it is "retarded" to not invest 10-50% of life savings into it.
