Topic: Don't invest more than you can afford to lose - page 6. (Read 6559 times)

I only got in this year, I'm down, meh, I agree with Elwar, I'm buying a bit more to average out, If it goes to $0 I still have income...

the thing I cant let go of is the thought of "what if I didin't invest and it did get big?" What would I miss out on there in terms of lifestyle change, being able to help my family, start more interesting and bigger businesses... personally I want to take the risk, live a big life, or at least aim for it and keep trying

YOLO your home could be a little too much, but...

How is this any different or any better advice? People shouldn't be encouraged to recklessly invest money into something just because it's 'their life' and they should 'live it' which is a given anyway.

"Don't invest more than you can afford to lose" is really good advice but for the new, inexperienced people, is very hard to make smart decision regarding any investment.
People often tend to believe in some ''new'' business concept and idea, and see this project as solution for their financial problems, way to get rid of regular job, boss etc.
If to much emotions involved, it's very easy to cross the line and invest much more than you can afford to loose.
In such situations is the best to talk with someone, wait and think twice.
Bitcoin can looks like great investment opportunity but in today's changing society you never know.
It's better to be careful than sorry because of to many unrealistic expectations.

Yea, if there is 100% way to get rich, noones talking about it. They are making money as fast as they can until masses came and bring profits down. If someone is telling you that bitcoin is sure deal, he is trying to play you for his personal gain. I think bitcoin is revolutary tech, but it is impossible for me to look person in the eye and tell this is sure deal. It is not.

"Don't invest more than you can afford to lose". This is one of the better sentence that I've ever heard, but you have to consider that if investment is good, people will try to invest all of their goods because all people wants to be rich.

My advice is to invest according to your personal belief in bitcoin. Like express your own belief by helping bitcoin ecosystem and buying stocks (coins). Dont buy because dudeX on the forums told you so.

It might be cliche but it's just a friendly warning and good advice. Some people come into bitcoin thinking it's a sure fire way to get rich quick when clearly it isn't. Those that rushed in to invest all their money buy buying in at its peak are now wishing they didn't, so it's good advice, but obviously pretty logical.

Yes

Basically you're telling us to invest all we have into a cryptocurrency that still hasn't fully proven itself and has been around for 5 years.

I agree that people should invest, but everything into 1 commodity/currency is much too risky.

"Never put all your eggs in one basket"

I cant lose nothing so i should invest nothing?
How much profit i might get with investing nothing?

We need all the investment we can make this Bitcoin market even more stable. It will also bring more people into it

Sell all your shit and yolo

I make money online , going to school and never spend my money  , so I think I can actually invest all my earnings . actually I only have less then 1 BTC , a lot less. I just don't know if it's worth it and if it will rise again and how much ... I know I know it's a long term investment

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.

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.