Topic: I never spent any savings on Bitcoin and I'm not broke - page 5. (Read 3899 times)

Yeah that topic was quite interesting and I learn quite a bit from it. But this topic is just so weird and doesn't deserve to be here.

this is just a troll topic, i am surprised why isn't it (re)moved already. the other topic which he is mocking at least had some good arguments inside about using USB and the risk of keeping it for long term without connecting to computer (without charge)

Well why are you telling us this? I saw another thread where someone spent all their money on Bitcoin, are you just trying to mock that person?

I thought this post seemed to ring familiar in the wording that was shown in the title. The topic cries of some one that regrets of what they have done and now wants comfort in their actions.

Do you ever want to spend a currency that only gains value over time?  Eventually yes, but it definitely isn't good to keep all your money in bitcoin.  And it certainly isn't guaranteed to gain over time.  Nothing is certain.

Yes. I love bitcoin, but it's truly an investment, since the value is only pegged to user confidence, and as We have seen, that confidence is strapped to a roller coaster. Therefore, when buying bitcoin, treat it like any other investment and only risk what you can afford to lose. Bitcoin, in some form, May be the future of money. But we are very much still in the present.

Well it depends on when you sell off your Bitcoin stash. For example if you had bought before the $1250 bubble burst and sold everything when the price was at its peak you would have made a lot of cash probably more than what you would have made on your regular job. If you had missed the pump and had bought in after the dump you would need to wait for the next pump to break even and get a profit. You will be flat broke only when Bitcoin hits rock bottom.

OP, that may well be the case for you today. But different people have different situations as far as when they first learned and decided to spend anything on bitcoin.

In five, ten, twenty or more years from now, you might even be able to make the same claim you make today, that you "never spent any savings on bitcoin and you're not broke". It's possible bitcoin could be defunct and worthless by then. OR it could have shot the moon and beyond also.

As the saying goes, "Nothing ventured, nothing gained."

No problem if you bought at 1200 USD but when you sold at 200 USD you are very shortsighted.

Well, if you do that, it makes a great loss and broke. you just have to do well, such as bitcoin buy when the price is really low and save it, it is a good investment. try to save bitcoin and feel the sensation

But the fact is, he hasn't bought any bitcoin yet (I assumed that from op's post). Considering the current trend, we see that bitcoin is quite profitable starting now as there is a lean that the value might go up.

1.Who asked you to ? That no way sounds like a plan to get rich.

2.Bitcoin is an experimental currency in its mediocre stages,you can't risk your entire savings on it.

3.About the "being broke" part ,that depends how lucky you're.Going back 2011,people who kept their savings,turned out to be millionaires of today.Never know what's in it for you next ,except for cases like emergencies,hospitals don't accept bitcoins yet.So it will be clever to save a part of it and not everything.  

Bitcoin is not only for saving, you should try to grow it as much as you can before halving, the more number of coins will give you higher profits by selling at the right time.

but if you just save it. in the end you will be bankrupt by the needs of your future

it would be better if you save as bitcoin, because prices will someday rise high, then you sell and get many benefits

Yes, this is similar to another post that was floating around about if you invest in bitcoin will you be broke.  Is this a real question, I dont even understand the point of asking it.  There is a search function where OP can type in "broke" and go to town.  boring drivel.  thank god I have recently discovered the "ignore" button.

haha, it looks like this is in response to The other post about the guy with the birdbath

anyways they are both looking like a joke to me and doesn't contribute to the forum in any sense.

you shouldn't go all the way in any direction, not the full investment and not the full out.

Don't know from taking what reference you are claiming so that you may have been broken if you have put your savings in bitcoin. Price is increasing from 200 to over 400 within last few months. You may have doubled your savings if you have put those in bitcoin few months ago.

If you bought a mere six months ago (when the price was between $200-$250) you would have nearly doubled your money by now...

I'm sure plenty have gone broke with Bitcoin. You could've bought at $1200 and sold at $200. If you'd dabbled in trading as well there's no shortage of capacity for setting your money on fire. As for gambling...

a smart person would never put all of their eggs into one basket.

here is a sliding scale of risk. where the top is the most risky and the bottom is most safest based on a LONG TERM investment
1. altcoins
2. pennyshares
3. real estate
4. fiat
5. bitcoin
6. stable bluechip share portfolio
7. precious metals

many people will cry and whine and show their total blind devotion that bitcoin should be the safest investment ever.
well this may be true based on the codebase of 2014 and the ease of buying and selling of that period.
but if you look passed your faith and think of the logistics of moving between bitcoin-fiat-bitcoin its a more harsh environment compared to 1-4 and about the same as 6-7. and future legal issues worldwide make bitcoin slightly less investable compared to 5-6

some people may whine and cry that real estate is safer then just hoarding fiat. but once you realise that a $250k house turns into $300k+ once you account the interest. then the maintenance, insurance, taxes pushes a house upto $350k costs.. most people dont always get their $350k let alone any profits to cover inflation.

so my advice is after you have paid your bills and a few luxuries.. if you have an example $100 left over.. split it up as

$20 fiat
$40 bitcoin
$10 shares
$20 precious metals

and keep an eye on the prices of each.. if one rises and another falls, invest less in the one that rises and more in the one that falls. that way you get more of the cheap stuff and less of the expensive stuff.

the reason i suggest $40 of bitcoin is because its still fresh and the fluctuations in price allow for more potential returns.  but keep in mind my last paragraph about adjusting the amounts based on price fluctuations.

and last tip. if you buy bitcoin at $450. and it drops to anything below $450 dont be a dummy and cash out crying at the loss.. hold and keep investing for cheaper coins. remember its only a loss when you cash out. so dont cash out at a loss. unless there are signs of a disaster scenario where it can drop to 0. think of any drop in price as an opportunity to grab more, cheaply