Yes
Audaces fortuna iuvat (the luck is favourable for the bold)
Topic: Have you invested more than you can afford to lose in Bitcoin? (Read 2441 times)
September 14, 2014, 02:13:25 AM
33 percent of my savings in. Sold my house last year which amounts to all my savings. So 1/3 in and the rest of the house money just sitting in a savings account.... I can't help but think that my money would be fairly safe parked in BTC with a sell order placed just below the market's farthest "dip" to save me in the case of a BTC disaster. Then, should things go north in a hurry, It'd be happy days.
September 13, 2014, 06:40:31 AM
No, but with hindsight, I wish I had done... 
September 13, 2014, 04:24:12 AM
No way man but I wish. 
If I could afford to do more I would but at the moment it is just not possible. Hopefully in a few months I'll have some extra funds to dump into Bitcoin.
If I could afford to do more I would but at the moment it is just not possible. Hopefully in a few months I'll have some extra funds to dump into Bitcoin. probably and may eventually invest alot more soon 
If the potential gains are worth less than the potential losses you sir have made a mistake. 
September 12, 2014, 11:35:09 PM
probably and may eventually invest alot more soon
If the potential gains are worth less than the potential losses you sir have made a mistake. September 12, 2014, 04:22:20 PM
I´ve invested 70% of my savings. I´ll sink with the ship, I don´t care. Without taking risks you never will have success.
Honestly, this. The bitcoin winners will be in this circle, while the rest of the "diversified investment crowd" will make some money but will be going "Damn, if only I had invested 5X more at the time....shit".
Remember, bitcoin gets 3x-5x orders of magnitude more expensive with each run up. So get it while it's cheap NOW.
Not really.
1 order of magnitude = factor of 10
Depends on the base you're applying
But yeah, there's actually no law that dictates how much Bitcoin has to go up in a single hype-cycle! It's crazy how some people take the next bubble for granted. 
September 12, 2014, 02:13:38 PM
I have cut all my expenses to the bones and put all the resulting spare money into bitcoins - I rarely eat meat and I literally haven't bought anything for myself other than food and bitcoins for a very long time now. I've also sold a lot of things that I never used anymore and put the money from that into bitcoins as well. These activities have resulted in a surprisingly large amount of wealth that I would never have imagined that I'd be able to accumulate.
So, no, I have not invested more money than I can afford to lose. It would not be fun for me if btc goes to zero, but I will not end up on the street or be in debt. On the other hand I have to gamble on this with a large enough bet that it can potentially change my life for the better. If you never do anything risky in life you'll never win either.
So, no, I have not invested more money than I can afford to lose. It would not be fun for me if btc goes to zero, but I will not end up on the street or be in debt. On the other hand I have to gamble on this with a large enough bet that it can potentially change my life for the better. If you never do anything risky in life you'll never win either.
Great story! I wonder whether bitcoin made you change your lifestyle (temporary), or you changed your lifesyle because of chasing early retirement/minimalism?
The change came by after realizing that I should have bought those few thousand coins back in 2010 when I first thought about it - and moving away from my girlfriend.
Being on your own means that you have more time for work and can lead a much simpler and cheaper life. The funny thing is, right now I much prefer this way of living. If bitcoin goes to the moon I will still be working, but I will shift my work entirely to my own projects - no Ferraris and retirement for me thank you
September 12, 2014, 01:38:35 PM
I can definitely afford to lose it. It would suck the big one all the same.
September 12, 2014, 01:37:35 PM
i think based on the general sentiment i have seen in Speculation over the past year or so, that MANY people are overextended here.
there was a guy on TV who claimed to have mortgaged his house to buy BTC > $1000.... lol...
there was a guy on TV who claimed to have mortgaged his house to buy BTC > $1000.... lol...
The sentiment is likely due to people seeing bitcoin slide down 60% from peak in January. Hard to remain excited when it just drops. Not sure how you get any sense of whether people are over invested as well.
September 12, 2014, 12:29:15 PM
i think based on the general sentiment i have seen in Speculation over the past year or so, that MANY people are overextended here.
there was a guy on TV who claimed to have mortgaged his house to buy BTC > $1000.... lol...
there was a guy on TV who claimed to have mortgaged his house to buy BTC > $1000.... lol...
September 12, 2014, 12:29:09 PM
I did once but luckily I have recovered from all the losses, won't gamble again.
September 12, 2014, 12:25:06 PM
I´ve invested 70% of my savings. I´ll sink with the ship, I don´t care. Without taking risks you never will have success.
Honestly, this. The bitcoin winners will be in this circle, while the rest of the "diversified investment crowd" will make some money but will be going "Damn, if only I had invested 5X more at the time....shit".
Remember, bitcoin gets 3x-5x orders of magnitude more expensive with each run up. So get it while it's cheap NOW.
Not really.
1 order of magnitude = factor of 10
September 12, 2014, 11:47:18 AM
Fun thing I have >50% of my money in Bitcoin, but this is only due to the rising price of Bitcoin.
Hopefully I will soon (bubble) have 1000% more money in Bitcoin than fiat
Currently I'm trading to earn more and have stopped putting more fiat in.
Hopefully I will soon (bubble) have 1000% more money in Bitcoin than fiat
Currently I'm trading to earn more and have stopped putting more fiat in.
September 12, 2014, 11:44:29 AM
Definitely not more than I can afford to lose! If we go down (i.e. sink completely) at this point, it will hurt. Quite a big bit, that's for sure. But I will still have conservative reserves, no outstanding debts to pay and am in no imminent danger of living in a cardboard box.
This.
As I said, I am 70% in. I bought them @680 and @780 (and just a few @250). The money was on the bank for 2 years and brought me about 1000 bucks a year. Thats rubbing. Thats nothing. I would prefer to keep my money under my bed instead of giving it to the banks. So I put 70% in BTC. I invested it because I know I wont need it in the near future. And as I said, I dont want to let it on the bank account. If I lose it, it will hurt. But it is not the end. Life will go on. It is only money. It comes, it goes. And it will not change my life if I will lose it/BTC goes to zero. So I wont sell it, no matter how deep BTC goes. I´ll sink with the ship. Have them BTCs on a paper wallet.
7-8 months ago, as I bought them, I was very worried and was checking BTC every hour. But after time passed, I stopped worrying more and more. Now I dont even check the BTC price daily on the internet. I have a BTC widget on my android phone that shows me the actual price.
September 12, 2014, 11:42:27 AM
Investing money is one thing but being greedy is not good. Looking at the yes votes some people are in for a rough ride.
this is like the definition of investing tho, lol
No a rough ride is having to sell off your investements because you cannot pay your rent.
Investing in a smart and controlled way let's you sleep at night since you can still pay your bills and allow for some unexpected circumstances.
September 12, 2014, 11:40:31 AM
If that 30% is answering honestly, that's a bit scary.
Oh yes, this is terrifying, although I believe quite a few votes are fake ones that just try to mess with people. But even if half of them are false, the number of people who are 'at the edge' right now has to be extremely high! This is worrying, but not that surprising. People are greedy and a lot of people here not very experienced when it comes to investing.
September 12, 2014, 11:34:45 AM
The only time you should borrow money to invest is if you have insider information. So legally never.
Not quite true.
If you trade using a trading platform and want to short you essentially borrow money.
This does not dismiss the fact that you must at all times have enough margin on account to cover your losses.
With correct money management it isn't a problem.
Taking a loan from a bank and putting it into Bitcoin is a bad idea unless you want to be a debt slave the rest of your life.
September 12, 2014, 11:29:30 AM
I have cut all my expenses to the bones and put all the resulting spare money into bitcoins - I rarely eat meat and I literally haven't bought anything for myself other than food and bitcoins for a very long time now. I've also sold a lot of things that I never used anymore and put the money from that into bitcoins as well. These activities have resulted in a surprisingly large amount of wealth that I would never have imagined that I'd be able to accumulate.
So, no, I have not invested more money than I can afford to lose. It would not be fun for me if btc goes to zero, but I will not end up on the street or be in debt. On the other hand I have to gamble on this with a large enough bet that it can potentially change my life for the better. If you never do anything risky in life you'll never win either.
So, no, I have not invested more money than I can afford to lose. It would not be fun for me if btc goes to zero, but I will not end up on the street or be in debt. On the other hand I have to gamble on this with a large enough bet that it can potentially change my life for the better. If you never do anything risky in life you'll never win either.
Great story! I wonder whether bitcoin made you change your lifestyle (temporary), or you changed your lifesyle because of chasing early retirement/minimalism?
September 12, 2014, 11:17:49 AM
invest your money in a low cost index fund with a ratio of bonds, depending on your age and how near retirement you are. if you invest a substantial amount of your savings into bitcoin, you will never be able to retire!
give up your false hopes for a recovery!
give up your false hopes for a recovery!
September 12, 2014, 11:13:35 AM
Invest 1 month salary. You will have to work 1 month longer or you can retire years earlier.
It amazes me that more guys are willing to invest "at least 2 months salary" on an engagement ring (as the public advice goes), but not even think about doing the same with bitcoin.
Especially when the divorce rate is heading north of 60%, lol. And tens of thousands more spent on student loans, for college degrees that will never earn back their ROI. You'll spend tens of thousands of lost dollars on your kids before they even reach their 18th birthday. Even more if you get a divorce and your ex has you paying more way child support than you can adequately support, and left you wondering just exactly where all that money is going. You'll buy a new car, just to see its value drop by thousands of $$ just by driving it off the lot.
The disillusion of priorities. And people wonder why they're not wealthy. Go figure.
Jump to: