Topic: Don't invest more than you can afford to lose - page 5. (Read 6575 times)

This is horrible advice. Bitcoin is far from certain to succeed over the long term, and even if it is successful it is far from certain that it's price will continue to see the dramatic returns that we saw over the past few years.

In your "story" you failed to mention the overall value of your IRA as well as what happened to your investment gamble in bitcoin.

I see this quote all the time, thanks dad but I can figure out how much I have to invest. When the price was $17 I took out $10k from my Roth IRA and bought bitcoins. Was that more than I could afford to lose? What does that even mean? Most people with a job can lose everything and because they still have a job they can keep going.

So fuck it, here's my advice. Invest everything you can put together. The price is damn low and we're probably within 10-20% of the bottom (current price, $325). Drop your damn Roth...they'll find a way to tax it when you retire. Investing more than your company's matching into your 401k? Fuck that, dump it into Bitcoin. Any equity on your house? Refinance, put all of that money into bitcoins...the dollar will lose value in the next 30 years to the point where your $100-$300k mortgage will be pocket change.

Do you have a job? If tomorrow your Bitcoin investment went to $0 would you still be able to live? Then dump it all into bitcoins...now.

I am sure this thread will be riddled by people trying to "save you" from yourself. I'm here to help you. Am I just trying to pump up the price? No, the people reading this thread likely do not have enough money to change the price but a few dollars. Plus I sold the bitcoins I got from my Roth back when the price was $12, below what I paid for them (though I am still buying). I've just seen the warnings year after year since the price dropped to $2 and people were panic selling.

Investing involves risk, higher risks tend to come with higher rewards. Donald Trump is worth billions but at one point was in debt over $900 million. Was $900 million more than he could afford to lose?

Invest what you want, it's your life. Live it.

Here is a nice wall of shame of a sampling of posts saving people from themselves when the price was in the single and double digits.

I see this quote all the time, thanks dad but I can figure out how much I have to invest. When the price was $17 I took out $10k from my Roth IRA and bought bitcoins. Was that more than I could afford to lose? What does that even mean? Most people with a job can lose everything and because they still have a job they can keep going.

So fuck it, here's my advice. Invest everything you can put together. The price is damn low and we're probably within 10-20% of the bottom (current price, $325). Drop your damn Roth...they'll find a way to tax it when you retire. Investing more than your company's matching into your 401k? Fuck that, dump it into Bitcoin. Any equity on your house? Refinance, put all of that money into bitcoins...the dollar will lose value in the next 30 years to the point where your $100-$300k mortgage will be pocket change.

Good thing but people are very stupid and wants to invest to get more and more money when in the more case they lose all of their investment ! (I say this for people which invest many money in HYIP).

Don't get into debt, but as long as you got a job that pays for your daily expenses: all in.

Never invest more that you want to loose.
Welcome to crypto 

Most people who invest or want to invest do so to get rich, so they're going to get angry with themselves whatever happens. If it tanks they'll cry, if it rises exponentially they'll cry that they didn't invest more. Some people will never win.

The problem with investing is that some people will be very angry with themselves if they do lose their money. You naturally think "Argh, why did I invest in Bitcoin? I should have invested in xyz."

But as you say, you have to take risks if you want to earn big.

If shell die, just dont question her if she will pay you a visit.

My grandma is dying. Should I pay her medical medical bills? Nah, I can afford to lose her. Jks.

The problem with investing is that some people will be very angry with themselves if they do lose their money. You naturally think "Argh, why did I invest in Bitcoin? I should have invested in xyz."

But as you say, you have to take risks if you want to earn big.