I PANICKED - page 5. | Bitcointalksearch.org

itsAj

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Quote from: Ibian on August 29, 2014, 11:03:30 AM

Quote from: RodeoX on August 29, 2014, 10:37:43 AM

So you "invested" your life savings in something that is not an investment? Sad

Panic is an appropriate response then. Very, very, risky move in my opinion.

I see you saying that a lot. You are still wrong about it. Miners invest in mining equipment. Everyone who doesn't mine buy coins from miners, that is, we invest in the miners themselves. Net result is that everyone who holds any amount of bitcoin, however big or small, has invested in the network itself. Now you might not think of it as an investment or treat it as such and that's fine, but it is.

This is not what he is saying. He is saying that bitcoin itself is not an investment as it is very risky and it is far from certain that it will rise in price over the long term.

IMO it is nothing short of reckless for anyone to invest their life savings into something half as speculative as bitcoin.

CryptoCarmen

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Quote from: Zawamiya on August 30, 2014, 01:56:37 AM

Quote from: blatchcorn on August 28, 2014, 05:32:40 AM

I just invested my life savings into Bitcoin

Good choice, now see it raise

You seems to do it right about perfect time

chairforce1

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Quote from: adamstgBit on August 30, 2014, 12:50:59 PM

when the risk of not taking the risk is gr8er then the risk of taking the risk you have to take the risk.

+1MM

messibtc

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If you want to invest in bitcoin you would better buy some of them gradually and not all together.

minerpumpkin

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A pumpkin mines 27 hours a night

Quote from: blatchcorn on August 28, 2014, 05:32:40 AM

I just invested my life savings into Bitcoin

Ha, nice play! Be careful though, if you really have done so! Keep at least some FIAT ready for sour times. And everyone, don't invest loaned money! If something goes wrong and you can't pay your lenders back, you're screwed! This is a dangerous game!

adamstgBit

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Quote from: HarHarHar9965 on August 30, 2014, 12:46:56 PM

Quote from: Ibian on August 28, 2014, 12:40:31 PM

Why are people still talking about "risk"? The tech is solid, adoption is growing at an incredible pace, the economic theory underlying the system is sound. The only real risk is that someone steals your private keys, and with an offline install that risk is pretty much zero. I can't think of a better risk/reward investment. We are literally sitting on the investment opportunity of a lifetime, and at the same time it is among the safest of investments possible. What is wrong with you people?

Mind-blowing. "The only real risk is that someone steals your private keys" -- really? No speculative risk at all. To the moon is the only option, yes? One of the safest investments possible? Bitcoin may be the blue chip of cryptocurrency, but you clearly know very little about the scope of investment assets....

when the risk of not taking the risk is gr8er then the risk of taking the risk you have to take the risk.

risky business

HarHarHar9965

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Quote from: Ibian on August 28, 2014, 12:40:31 PM

Why are people still talking about "risk"? The tech is solid, adoption is growing at an incredible pace, the economic theory underlying the system is sound. The only real risk is that someone steals your private keys, and with an offline install that risk is pretty much zero. I can't think of a better risk/reward investment. We are literally sitting on the investment opportunity of a lifetime, and at the same time it is among the safest of investments possible. What is wrong with you people?

Mind-blowing. "The only real risk is that someone steals your private keys" -- really? No speculative risk at all. To the moon is the only option, yes? One of the safest investments possible? Bitcoin may be the blue chip of cryptocurrency, but you clearly know very little about the scope of investment assets....

ensurance982

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Trust me!

The most important thing is not to go long on leverage, in my opinion. We've seen so many flash crashes in the past that such a position may completely wipe out your investment and you'll be left with 0 BTC. Also, don't borrow money to buy BTC in general, you may not be able to pay back your loan!

Erdogan

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Quote from: Ibian on August 28, 2014, 12:40:31 PM

Why are people still talking about "risk"? The tech is solid, adoption is growing at an incredible pace, the economic theory underlying the system is sound. The only real risk is that someone steals your private keys, and with an offline install that risk is pretty much zero. I can't think of a better risk/reward investment. We are literally sitting on the investment opportunity of a lifetime, and at the same time it is among the safest of investments possible. What is wrong with you people?

This is confirmed.

Swordsoffreedom

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Leading Crypto Sports Betting & Casino Platform

Quote from: blatchcorn on August 28, 2014, 05:32:40 AM

I just invested my life savings into Bitcoin

Welcome to Bitcoin Blatchcorn
I kid but in all honesty I respect you for it and hope this works out well for you, which it should seems like a no brainer to me if you hold for the longest time.
Merchant adoption, increasing awareness, it just needs a larger userbase which will take more time.

piramida

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Borsche

Quote from: RodeoX on August 29, 2014, 04:49:51 PM

What makes it risky is the perception that bitcoin is specifically some sort of investment. It was not conceived of as such and it's strengths are not in the area of a speculative vehicle. Bitcoin will gain in value if it catches on as a payment system, but it may not catch on.

Bitcoin has much more and wider possible uses than just an internet cash. It is a one and only widely distributed incorruptible consistent database, no other human technology comes close. So I think internet cash aspect was built-in just to get it rolling - needs to have value so the network will be created - once it is created, the value of the blockchain technology itself will be growing with every new application. Mostly everything that we do requires a ledger, so we have not yet started appreciating even the tiniest part of what blockchain can do to move our ways of doing things to a new level.

HarHarHar9965

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Quote from: blatchcorn on August 28, 2014, 05:32:40 AM

I just invested my life savings into Bitcoin

So you panic bought? How did that work out for you? Tongue

I'm glad I put some dough into bitcoin when I did. But life savings? That's crazy talk. Maybe for a young student or something. I hope you don't have a family to take care of, if serious.

Zawamiya

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Quote from: blatchcorn on August 28, 2014, 05:32:40 AM

I just invested my life savings into Bitcoin

Good choice, now see it raise

Ibian

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Quote from: RodeoX on August 29, 2014, 04:49:51 PM

Quote from: Ibian on August 29, 2014, 11:03:30 AM

Quote from: RodeoX on August 29, 2014, 10:37:43 AM

So you "invested" your life savings in something that is not an investment? Sad

Panic is an appropriate response then. Very, very, risky move in my opinion.

I see you saying that a lot. You are still wrong about it. Miners invest in mining equipment. Everyone who doesn't mine buy coins from miners, that is, we invest in the miners themselves. Net result is that everyone who holds any amount of bitcoin, however big or small, has invested in the network itself. Now you might not think of it as an investment or treat it as such and that's fine, but it is.

I understand your point, and I do agree that you are invested in bitcoin and the network just by owning some. What makes it risky is the perception that bitcoin is specifically some sort of investment. It was not conceived of as such and it's strengths are not in the area of a speculative vehicle. Bitcoin will gain in value if it catches on as a payment system, but it may not catch on. That makes it useful to buy some and spend it on online purchases, but risky to hold unless you are going to be attentive. I am also concerned about user Ibian because he claims he put his "life savings" into it. That is a terrible investment strategy. Putting all your money into even a safe investment is a bad idea. He should diversify and mitigate some of his risk. Otherwise his future depends entirely one the outcome of bitcoin. And that is entirely unclear.

Thanks for your concern, but the future is clear to me. I don't know what the price will be tomorrow or in a month, but the big picture is obvious: Up. I understand the tech, the economic theory, the cultural and political problems that will inevitably drive the price up. There is no risk, only impatience. There is also nothing else that can make me life-changing money from what little I have now.

romerun

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Bitcoin is new, makes sense to hodl.

your life saving stay the same, just different currency

RodeoX

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The revolution will be monetized!

Quote from: Ibian on August 29, 2014, 11:03:30 AM

Quote from: RodeoX on August 29, 2014, 10:37:43 AM

So you "invested" your life savings in something that is not an investment? Sad

Panic is an appropriate response then. Very, very, risky move in my opinion.

I see you saying that a lot. You are still wrong about it. Miners invest in mining equipment. Everyone who doesn't mine buy coins from miners, that is, we invest in the miners themselves. Net result is that everyone who holds any amount of bitcoin, however big or small, has invested in the network itself. Now you might not think of it as an investment or treat it as such and that's fine, but it is.

I understand your point, and I do agree that you are invested in bitcoin and the network just by owning some. What makes it risky is the perception that bitcoin is specifically some sort of investment. It was not conceived of as such and it's strengths are not in the area of a speculative vehicle. Bitcoin will gain in value if it catches on as a payment system, but it may not catch on. That makes it useful to buy some and spend it on online purchases, but risky to hold unless you are going to be attentive. I am also concerned about user Ibian because he claims he put his "life savings" into it. That is a terrible investment strategy. Putting all your money into even a safe investment is a bad idea. He should diversify and mitigate some of his risk. Otherwise his future depends entirely one the outcome of bitcoin. And that is entirely unclear.

piramida

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Borsche

Quote from: MichaelBliss on August 28, 2014, 01:54:44 PM

Quote from: nuff on August 28, 2014, 07:42:45 AM

Quote from: blatchcorn on August 28, 2014, 05:32:40 AM

I just invested my life savings into Bitcoin

I wished I did too when the price was around $120 Undecided

When the price was $120, people missed out by wishing they got in at $12, and so on.

Exactly. Mostly nobody here understands that simple fact. Even though I understand this, I have to physically force myself to buy now ignoring psychological fear, remembering how I skipped much buying at $100 levels thinking I will buy lower. Never did.

Ibian

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Quote from: RodeoX on August 29, 2014, 10:37:43 AM

So you "invested" your life savings in something that is not an investment? Sad

Panic is an appropriate response then. Very, very, risky move in my opinion.

I see you saying that a lot. You are still wrong about it. Miners invest in mining equipment. Everyone who doesn't mine buy coins from miners, that is, we invest in the miners themselves. Net result is that everyone who holds any amount of bitcoin, however big or small, has invested in the network itself. Now you might not think of it as an investment or treat it as such and that's fine, but it is.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

So you "invested" your life savings in something that is not an investment? Sad

Panic is an appropriate response then. Very, very, risky move in my opinion.

bit tired

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Quote from: Ringumbau on August 29, 2014, 09:54:34 AM

^^This

OP is still legit insane tho.

You think the OP is right to invest his life savings in bitcoin, but insane for doing it? Huh

Topic: I PANICKED - page 5. (Read 10897 times)