I will invest the money to buy the land in Bitcoin. - page 4.

Renampun

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Quote from: Littlemini on December 03, 2023, 10:19:55 PM

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Since I have like 11 thousand dollars right now, I want to invest this amount in Bitcoin instead of keeping it in the bank. I know about investing in bitcoins and I know that there are risks involved, I am investing in the potential to grow money but I want to invest in bitcoins with the understanding that my money may go down due to market volatility. I decided to withdraw the money from the bank at the beginning of the new year and plan to invest the money in bitcoins. Now that I can't buy land, I will definitely hold this investment for a long time so that I get good returns at the end of the long term and I can also accumulate some more money through employment.

At the time I planned it I felt I should have planned it earlier.

a few months ago the price of bitcoin was still around $25k++ now the price is already $40k++ if you started buying bitcoin when the price was still under $30k then now your $11 thousand money has increased almost 1.5 times, well the price of bitcoin continues to increase as time goes by, so don't think long about buying bitcoin, rest assured that when you buy bitcoin at the current price then in the next few years the price of bitcoin will increase rapidly and you will get a profit of 3x or even 5x from the initial value you bought bitcoin at this price, when it's certain that your dream of buying land using Bitcoin will come true smoothly.

abel1337

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Quote from: SmartCharpa on December 07, 2023, 01:10:45 PM

Quote from: Littlemini on December 03, 2023, 10:19:55 PM

I am a government servant, working in regional land office. At the end of five years of my working life, I have spent part of the salary I received during these five years for family and saved part for future. I have been saving my money in the bank for more than five years for the purpose of saving for the future and purchasing a land. If I were to mention the amount of money I saved in five years, it would be about 11 thousand dollars if converted to US dollars. My plan was to buy a land with this amount of money but whenever looking for land to buy land my idea completely changes because the lands I like will not give me this amount of money. If I can't buy land in a position, I have no desire to buy land in a common place.

Since I have like 11 thousand dollars right now, I want to invest this amount in Bitcoin instead of keeping it in the bank. I know about investing in bitcoins and I know that there are risks involved, I am investing in the potential to grow money but I want to invest in bitcoins with the understanding that my money may go down due to market volatility. I decided to withdraw the money from the bank at the beginning of the new year and plan to invest the money in bitcoins. Now that I can't buy land, I will definitely hold this investment for a long time so that I get good returns at the end of the long term and I can also accumulate some more money through employment.

At the time I planned it I felt I should have planned it earlier.

You are making good decisions at this point, but in my opinion, you should have made this decision much earlier. The price of bitcoin is currently high, so I don't think it's a good idea for you to purchase it at this point when it's over $40k Instead, you would have take this decision when the price was still under $30k Although you've saved money for a good five years, I believe you should wait longer if you can't afford to buy now. I know that some people can still invest and take risks regardless of the price. Because of the current price, I will not encourage anyone to buy bitcoin at this point. however, I will suggest that you should use half of your money to buy land, use the other half to begin your journey into investment.

We have different perspective on where bitcoin price can go, it is speculative if bitcoin can go down to 30k again assuming that it is before the bull market. I myself believe that we can go that price point but I think that OP wouldn't want to miss the chance for him to invest in such price given that he is aware and has a knowledge about the risk of investing into cryptocurrency. If bitcoin go up more than 40k, the difference would only be the profit potential that OP can get but overall, I also think it's a good move investing in bitcoin even with the entry price he choose.

Dollar cost averaging would be also good strategy but again OP bought the bitcoin already and it will hardly depend on him if he will follow the advices we posted in his thread.

SmartCharpa

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Quote from: Littlemini on December 03, 2023, 10:19:55 PM

I am a government servant, working in regional land office. At the end of five years of my working life, I have spent part of the salary I received during these five years for family and saved part for future. I have been saving my money in the bank for more than five years for the purpose of saving for the future and purchasing a land. If I were to mention the amount of money I saved in five years, it would be about 11 thousand dollars if converted to US dollars. My plan was to buy a land with this amount of money but whenever looking for land to buy land my idea completely changes because the lands I like will not give me this amount of money. If I can't buy land in a position, I have no desire to buy land in a common place.

Since I have like 11 thousand dollars right now, I want to invest this amount in Bitcoin instead of keeping it in the bank. I know about investing in bitcoins and I know that there are risks involved, I am investing in the potential to grow money but I want to invest in bitcoins with the understanding that my money may go down due to market volatility. I decided to withdraw the money from the bank at the beginning of the new year and plan to invest the money in bitcoins. Now that I can't buy land, I will definitely hold this investment for a long time so that I get good returns at the end of the long term and I can also accumulate some more money through employment.

At the time I planned it I felt I should have planned it earlier.

You are making good decisions at this point, but in my opinion, you should have made this decision much earlier. The price of bitcoin is currently high, so I don't think it's a good idea for you to purchase it at this point when it's over $40k Instead, you would have take this decision when the price was still under $30k Although you've saved money for a good five years, I believe you should wait longer if you can't afford to buy now. I know that some people can still invest and take risks regardless of the price. Because of the current price, I will not encourage anyone to buy bitcoin at this point. however, I will suggest that you should use half of your money to buy land, use the other half to begin your journey into investment.

tjtonmoy

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This is the beauty of Bitcoin. You cannot invest into real estate or buy small portion of land with small amounts. But in Bitcoin investment, you can start with as low as $10. There's no limitation in Bitcoin investment which makes it a very powerful investment option. But if you are really going to invest into Bitcoin then I suggest you not to do it all at once. Focus more on doing DCA if you have less knowledge about trading and other stuff.

That's never a perfect time when it comes to Bitcoin investment. If you have the will to hold for a longer period of time, anytime you invest becomes the perfect time for you. Don't regret your decision. Just buy and hold until you see profits.

krista222

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That's great idea! Make sure you choose a reliable platform for your transactions. Diversifying your investments is crucial to reduce risk. Remember that markets can be unpredictable, so it's wise to only invest what you can afford to lose. Consult a financial advisor to make sure your decision is in line with your long-term goals and risk tolerance.

Dr.Osh

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it's a bold plan, and if it works, then it will really bring you huge profits. However, I think that you need to save some of the money you have in Fiat as an emergency fund. We don't know what will happen in the future, because as far as I know, there are many people who try to invest all the money they have, but they are forced to sell the investments they have cheaply because of an emergency.
So, I think if you want to try investing in bitcoin for the long term, to buy land, that's not a problem, many people do that, but make sure the money for daily needs, savings, emergency money, and others is also met. because if not, then it could threaten your investment in the future.

Victorik

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Quote from: Questat on December 05, 2023, 07:40:07 AM

Quote from: Victorik on December 05, 2023, 05:57:32 AM

I really envy your courage, not everyone will be that courageous to invest all their savings in Bitcoin.
Moreso I respect the fact that you understand that this your investment could become nothing tomorrow because of the volatility and risk involved in investing in Bitcoin.
It's a good thing, and who knows your $11k could become $20k in this next bull run.

Not everyone because not everyone has also seen the potential of Bitcoin. But OP has a positive view of Bitcoin and a kind of investment mindset which drive his decision to invest in Bitcoin rather than buying land. He came up with that decision believing that Bitcoin could give him more profit which was unlikely to earn if he acquired land.

Indeed, the potential of making $11k can be doubled or even more when properly managed. Perhaps he knows the risk he faces so we could assume that he was ready enough to whatever happen.

Not that they don't see the potential, but some are actually afraid to commit funds to investing in Bitcoin, especially life savings.
It is a risky venture and the OP is well informed and I am sure he is ready to bear the consequences of his failures and success.
But hopefully this results in a massive win for him eventually, he could make in a month what his banks can never afford to give in 10 years

Pablo-wood

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Quote from: Littlemini on December 03, 2023, 10:19:55 PM

Since I have like 11 thousand dollars right now, I want to invest this amount in Bitcoin instead of keeping it in the bank. I know about investing in bitcoins and I know that there are risks involved, I am investing in the potential to grow money but I want to invest in bitcoins with the understanding that my money may go down due to market volatility. I decided to withdraw the money from the bank at the beginning of the new year and plan to invest the money in bitcoins. Now that I can't buy land, I will definitely hold this investment for a long time so that I get good returns at the end of the long term and I can also accumulate some more money through employment.

It's better to play safe than risk it all. Land appreciates faster than Bitcoin in real sense except for Bull run seasons. Instead of risking all $11k on Bitcoin why not do a split on the money maybe a greater percentage could go for Bitcoin purchase while the rest on land. Reason been that no one can predict the future a need for the money might arise and that period might not be bullish enough to make some.profit before selling and might result in loss. To be on the safe side the land can be sold back while the Bitcoin remains even for longer term. Because so far the longer we wait the higher our chances of making something tangible out of our Bitcoin investment

Lanatsa

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Quote from: goldkingcoiner on December 05, 2023, 11:00:40 AM

Quote from: Littlemini on December 03, 2023, 10:19:55 PM

I am a government servant, working in regional land office. At the end of five years of my working life, I have spent part of the salary I received during these five years for family and saved part for future. I have been saving my money in the bank for more than five years for the purpose of saving for the future and purchasing a land. If I were to mention the amount of money I saved in five years, it would be about 11 thousand dollars if converted to US dollars. My plan was to buy a land with this amount of money but whenever looking for land to buy land my idea completely changes because the lands I like will not give me this amount of money. If I can't buy land in a position, I have no desire to buy land in a common place.

Since I have like 11 thousand dollars right now, I want to invest this amount in Bitcoin instead of keeping it in the bank. I know about investing in bitcoins and I know that there are risks involved, I am investing in the potential to grow money but I want to invest in bitcoins with the understanding that my money may go down due to market volatility. I decided to withdraw the money from the bank at the beginning of the new year and plan to invest the money in bitcoins. Now that I can't buy land, I will definitely hold this investment for a long time so that I get good returns at the end of the long term and I can also accumulate some more money through employment.

At the time I planned it I felt I should have planned it earlier.

Bitcoin has historically always been a safe bet. And while the future is not certain, our confidence in Bitcoin grows and grows. The price reflects this.

And soon Bitcoin will become really big - thats what I believe. ETFs are going to be offered to the average american Joe by the most professional brokers. This is going to pull in many old-world investors with immense fortunes.

There's no doubt with that and it had been proven already for a decade if we do speak about price potential on which it is really that worth on holding but i do agree into those words abotu safest bet
because there's no thing on this world that make out investment without having no risks. Yes, we can see that Bitcoin does have that kind of support but we know that not all would really be that having the confidence on investing through it because of those circumstances or things that they've seen online specially with government continous banning and involvement then it wont be that so shocking
that they would really be that hestiated on involving into. Now that you've decided whether you should invest the money you do have or not then its up to your own choice.

Just make it sure that you wouldnt really be making any regrets and dont invest on the amount on which you cant afford to lose. If you are planning on buying some lands
with investment profits then its not a bad idea but dont expect that prices or profits would really be that so easy.

The Cryptovator

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I appreciate your decision. At least you realised how Bitcoin could give us a good return. Land investment isn't very profitable lately, especially for those we are related to who could make more money from Bitcoin. We just need patience for that. Because Bitcoin is a volatile currency, any time could dump it. So you have to be mentally prepared to encounter any kind of dump. More importantly, don't forget to store your bitcoin in a non-custodial wallet. Try to buy a hardware wallet for safety reasons.

Dr.Bitcoin_Strange

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Quote from: Littlemini on December 03, 2023, 10:19:55 PM

I decided to withdraw the money from the bank at the beginning of the new year and plan to invest the money in bitcoins. Now that I can't buy land, I will definitely hold this investment for a long time so that I get good returns at the end of the long term and I can also accumulate some more money through employment.

At the time I planned it I felt I should have planned it earlier.

I don't understand if you are talking about withdrawing the money from the bank by next year (2024) or perhaps you have been withdrawing it since the beginning of this year. If you had withdrawn the money earlier this year, that means you should have invested it in Bitcoin already when the price was still around $20k+ and you would probably be making more profit by now. If you invest now, hopefully the price will grow more than it is right now, and you will still make a profit if the bull market sets in. Waiting until next year before you invest might not be a wise choice because you don't know if the price of Bitcoin might have grown more than what it is right now.

goldkingcoiner

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Quote from: Littlemini on December 03, 2023, 10:19:55 PM

I am a government servant, working in regional land office. At the end of five years of my working life, I have spent part of the salary I received during these five years for family and saved part for future. I have been saving my money in the bank for more than five years for the purpose of saving for the future and purchasing a land. If I were to mention the amount of money I saved in five years, it would be about 11 thousand dollars if converted to US dollars. My plan was to buy a land with this amount of money but whenever looking for land to buy land my idea completely changes because the lands I like will not give me this amount of money. If I can't buy land in a position, I have no desire to buy land in a common place.

Since I have like 11 thousand dollars right now, I want to invest this amount in Bitcoin instead of keeping it in the bank. I know about investing in bitcoins and I know that there are risks involved, I am investing in the potential to grow money but I want to invest in bitcoins with the understanding that my money may go down due to market volatility. I decided to withdraw the money from the bank at the beginning of the new year and plan to invest the money in bitcoins. Now that I can't buy land, I will definitely hold this investment for a long time so that I get good returns at the end of the long term and I can also accumulate some more money through employment.

At the time I planned it I felt I should have planned it earlier.

Bitcoin has historically always been a safe bet. And while the future is not certain, our confidence in Bitcoin grows and grows. The price reflects this.

And soon Bitcoin will become really big - thats what I believe. ETFs are going to be offered to the average american Joe by the most professional brokers. This is going to pull in many old-world investors with immense fortunes.

Suzume

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I think you can invest the money to buy land in bitcoin the idea isn't bad. If you are proparly able to invest your land money then go on. Becose you're buying land after few years the. Price of land increase but not that much increase. But if you invest in bitcoin in the right time then you can get 2x 3x profit easily. That's the reason if you want you can go for bitcoin investment.

Razmirraz

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The greater the profit offered, the greater the risks faced. The explanation you have given in Op indicates that you understand how Bitcoin works, the value of your money can change suddenly when market volatility occurs. I know, this is not about greed, but rather about future goals after comparing land with Bitcoin.
If you want to invest in Bitcoin, why wait until entering the new year. Aren't you free to withdraw money stored in the bank at any time, you can invest now, maybe when entering the new year Bitcoin will experience an increase in price which will make your money estimate increase even more.

tottong

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Quote from: G_Besar on December 05, 2023, 05:03:30 AM

Everyone has different ideas for something like this, although I also wouldn't put all my money into the bank if I still liked and could afford to put it somewhere else like the crypto space. But because I still have to use the bank for certain things, I will continue to allocate money separately into several places even though I will only put what is necessary into the bank and the rest into the crypto space. And I think the idea you offer is also not so bad for everyone even though we don't have to equate our mindset with other people in this matter.

We still need fiat money as a life support measure and taking all our savings to invest in bitcoin will force us to engage in short-term trading to make ends meet. Unless we have another job to make money to make ends meet and buy something we need, it may be necessary to allocate investments and cash for daily use so that we don't have to think about getting involved in short-term investments.

We also need cash because it is for children's education, health and other needs and perhaps the allocation can be adjusted according to needs. The steps taken by the OP are right, but he also needs to think about cash as a process for buying something he needs. If he has other income it may not be a problem when he withdraws all his savings from the bank to buy bitcoin.

bettercrypto

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I hope everyone who saves money in the bank will shift to Bitcoin savings in the future. But I know that this is impossible; there are and still are people who will use banks and even in the private sector, especially businessmen and employees, of course.

Now, for OP, I am impressed with the decision; he has a full heart and trust in Bitcoin; he saw its potential from 2008 until the present that we are living now. It is rare for an employee like him to realize what he discovered in Bitcoin.

Questat

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Quote from: Victorik on December 05, 2023, 05:57:32 AM

I really envy your courage, not everyone will be that courageous to invest all their savings in Bitcoin.
Moreso I respect the fact that you understand that this your investment could become nothing tomorrow because of the volatility and risk involved in investing in Bitcoin.
It's a good thing, and who knows your $11k could become $20k in this next bull run.

Not everyone because not everyone has also seen the potential of Bitcoin. But OP has a positive view of Bitcoin and a kind of investment mindset which drive his decision to invest in Bitcoin rather than buying land. He came up with that decision believing that Bitcoin could give him more profit which was unlikely to earn if he acquired land.

Indeed, the potential of making $11k can be doubled or even more when properly managed. Perhaps he knows the risk he faces so we could assume that he was ready enough to whatever happen.

Victorik

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I really envy your courage, not everyone will be that courageous to invest all their savings in Bitcoin.
Moreso I respect the fact that you understand that this your investment could become nothing tomorrow because of the volatility and risk involved in investing in Bitcoin.
It's a good thing, and who knows your $11k could become $20k in this next bull run.

Ojima-ojo

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Honestly, you should have planned this way earlier than now, bitcoin is currently trading above $41,000, and by the beginning of next year, there is a very high possibility that this price can increase even higher than it currently is, and this simply means that, you may be buying bitcoin around $50,000 by the beginning of next year when you finally withdraw your money from the bank.

Assuming you had planned this earlier, there was a time this year when the price of bitcoin was around $15,000 or even lower, if you had invested $11,000 on bitcoin then, you would have gotten almost one full bitcoin in you possession right now, you will be in a very huge profit by now.
But anyways, I guess it's not too late, bitcoin is going above $100,000 in the coming bull run, so, it's still early to invest now before its too late.

Z390

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It's not a bad thing at all, but isn't that amount too much? Why not use half to invest in Bitcoin? Anyways the choice is yours, I sold my land last year to buy some Bitcoin and I was discourged by almost everyone that k know, it was a easy decision because I have more than one properties, and with the way things are going I might have to leave my country in the future, I haven't made up my mind though but if I have to I might end up selling more, but this type of decisions are not bad when you have more than one property, you can easily sell one to invest and keep the other.

I think right now is not a good time to buy Bitcoin, because Bitcoin just pumped over 42k and that's a bit high for me, if you want to DCA it's still better than going all in, I would rather wait for some pull back, maybe it can happen in few weeks later or by the early of next year, be patience and hold your horses for now.

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