Topic: I won £50 - should I use it to buy Bitcoin? - page 5. (Read 1062 times)

Everyone will have an opinion on this money on how best to use it even though the OP has already decided what he will use if for which is for bitcoins. Everybody's answer is good enough for them but for me the best use of such money if for further investment to multiply it and get more. So whether it is used to buy more bonds, invest more in bitcoins, they are investments to me and are good ways to spend the money.

That's yummy. Jet, you can do whatever you want with that 50 as you've said that you're not having any problems and you're retired already.
If that was me, I'll enjoy a meal with my family and eat outside but that was just me as that's what I did just this afternoon.

NVME M.2 is quick and if you haven't used such before, you'll be surprised how quick and efficient it is.

Bitcoin trend history somehow gives a hint for 4-5x right now.  It is not that a person is expecting without a base.  It is possible a normal occurrence in Bitcoin market after Bitcoin halves and obviously, as an investor, you wouldn't dare to miss it.  

I do agree that expecting without any solid bases is a bad thing but if there are hints and history then it would be a waste if we failed to invest in such a market.


Interesting idea, would it make a difference if you use different and faster internal storage?

Before investing in Bitcoin, it's important to consider your financial goals. Are you looking for a long-term investment or a short-term gain? Bitcoin is known for its volatility, so it's important to have a clear understanding of your financial goals before investing.

Bitcoin is a complex market, and it's important to do your research before investing. Look at the current market trends, historical data, and expert opinions to get a better understanding of the market.

Bitcoin is a high-risk investment, and it's important to understand the risks before investing. The market is highly volatile, and there is no guarantee of returns. It's important to be prepared for the possibility of losing your investment.

If you do decide to invest in Bitcoin, it's important to start small. Invest only what you can afford to lose and gradually increase your investment as you become more comfortable with the market.

Also Read: https://fintechguruji.in/bitcoin-btc-price-prediction-and-forecast/

Great choice, although being your age, I can't say with certainty that I'd do the same.
At the moment I'm still in my 30s and I'm a believer in bitcoin. I just know it's going to be worth more than it is now and that this wasn't it's last ATH in 2021. Knowing that and having years to wait (hopefully) I'm ready to put my trust in bitcoin and see how it goes. I bought years ago, not expecting much. I accepted that it could go up only 100% over the next 10 years and felt good holding it. It went up more than 10 times what I expected and I know it's going to keep on giving to people who aren't in a hurry and don't react to every market fear and panic.
To me buying and holding bitcoin is an obvious choice and it's probably the best thing you can do with your money, provided that you're able to forget about it for at least 3 years. For older people who might want to finally enjoy life and spend their savings, I don't know. Depends on their background, health, family needs and many other things.

Well, £50 is not so much money and can't really buy much in terms of investing the money in bitcoin, though this would have really been a great decision had it been the money was lager, reason being like you stated, we all are anticipating a bull run towards the end of this year or early next year, and if you buy £50 worth of bitcoin right now at this current price, even if the price of bitcoin skyrockets to $100,000, profit made from your £50 wouldnt be so significant..

So If I were you, I think I would buy more bonds with the money, so far I am already holding a bitcoin bag somewhere, but if it be that I am not holding a single bitcoin or satoshi, I would buy bitcoin with the money, for a start.

Nothing in your write-up denotes you own a Bitcoin before now, just that you know about Bitcoin. Naturally this is your money you have the right to do whatsoever you please with it from the point you raised but for me, I will see from this angle, which one will yield more profit to me in the next one year, after reaching a conclusion you act on your decision.

When I receive prizes or rewards from events or lotteries, I have two goals in mind. I have received them several times and before spending them, I always calculate the net profit from the prize because sometimes I pay some money to get it.

The first goal is to shop as a self-reward to motivate myself, the amount depends on my needs but it is definitely not more than 33% of the total prize I receive. I usually enjoy eating expensive food that I have never tasted before or buying sports equipment because I love sports. I do this purely because I like it and I feel happy when I buy or do it.

The second goal is to invest. The amount is always more than 66% of the total prize I receive. Sometimes I buy Bitcoin through a local exchange and sometimes I buy some necessities that will generate more money. This is because I also have other businesses in the real world. But the main point is to spend most of it on productive things, whether it is cryptocurrency or anything else that you think can bring in more money.

Your topic question would have been asked by a newbie, you are a legendary member and have known what is bitcoin and it important, so if you won £50, you know to do with it because you are an experience person in the ecosystem.

If I were you, I would. Have use it to invest what will bring more profit to my extra income. If buying of bonds will profit you then you go for it. And that was why I said, you are man of your own decisions. By right you do have to create thread for it but for discussion sake. You know the most valuable asset among the two. Since you said, you want to diversify your investment then that is a good plan. And one thing I will say, remember you got the money from the purchase of the bonds. So don't rush to invest on bitcoin but still try the bonds.

Nice advise I must say.
I have personally experienced that the more you want to be greedy with money, you tend to lose it.
Like you said, let go and enjoy his money before you end up losing it.

OP,  what are you expecting people to say or what kind of advice are you expecting people to give you? this is a bitcoin discussion thread and yes many people will say that you should buy Bitcoin instead but I would like to ask if you have any other source of income because $50 invested in Bitcoin today won't give you a better return tomorrow so if you really want to continue investing in Bitcoin then this is a good time to start.

You can invest this $50 you won into bitcoin but know that it is not enough for a long-term hold, make sure you keep dollar cost averaging into Bitcoin starting from now before bitcoin halving get here probably between April of the year 2024.

Between this period of time it will be too late to keep buying Bitcoin again because after every halving, bitcoin value tends to grow higher and the wisest way to make money out of Bitcoin investment is buying the dips and when the dips are no longer available it is over.

Just as 50£ won't get you all the pleasures in the world, so investing 50£ won't make you a millionaire. Actually, you are right, humanvelocity.

"Easy come - easy go": Spending 50£ is not such a bad idea, because it's prize money that can be treated as a bonus.  No effort was required for this, which means that if you had these 50£, that it were not there, nothing would have changed.


What to do with these 50£? It can give them to someone from relatives, to whom it will help or simply please. Yes, even to anyone in need on the street.

Better yet, buy bitcoin and give it to your friend to join bitcoin-community.

We don't decide for person to invest in bitcoin, but is person's choice to invest, you can use it investments or something things that can give you return of a profit. If you you want to invest, invest in other crypto projects that can give you a little profits or use that £50 to use small business that will gain from it. And if you want to buy bitcoin, buy and hold for long-term for you to get double of your your money that you use to invest.  Therefore, I am curious as to why you are contemplating investing £50 into Bitcoin when you could earn a modest amount instead. Even if the price of Bitcoin were to double after a year, you would only earn an additional £50.

Must you spend any extra money that comes your way? Turn the money into USD and keep it, there are many ways you can grow up with 51$ using crypto, if you know how to trade 50$ is enough to start.

Some people are accumulating Bitcoin using 50$ every week or month, if you think you can do the same then start from somewhere, Rome was not built in one day, you can also look onto other crypto projects, and you can make good money with 50$ invested in q good project and you can later exchange your profit to Bitcoin for long term hold.

That's well advised though because nowadays you don't know which businesses are yet to fall because of these conflicts all around the world and to have multiple sources of income with different choices of currencies and trades, you will easily survive if there will be chaos in the future because you have a variety of choices to fund yourself but most people don't really care that way because they only focus on today's happening. most of them don't have any future plans, especially in financing themselves and keeping their money in more trusted sources.

£25 will not gonna increase your winning chance rate by high percentage. Actually, it’s almost negligible if you will reinvest it on bonds while it doesn’t have any interest.

Bitcoin is your best option here to maximize your profit in long teem since this money is just an extra cash for you. You can consider it as DCA purchase if you will regularly use the lottery prize on purchasing Bitcoin. This will give you huge return in the future compared if you will just reinvest it on bonds with small amount. Maybe you can reinvest once your funds on Bitcoin is already huge.

I'm starting to get a feel for the variations in prices around the world. I'm in Hampshire in England, and that is a fairly prosperous county on the south coast. It includes Winchester, which is the former capital of England, well when it was largely Wessex. It also includes Winchester college which is one of the major public schools ( remember that in England public schools are the expensive private boarding schools like Eton), and the second most important crown court after the Old Baiuley. A single room in an out of town motel costs about £100 per night, and a decent bottle of wine in a good restaurant is likely to cost more than £50. It looks as if a Big Mac costs £4.79 according to a delivery company, although that isn't something thatr i would buy. A cleaner in the local supermarket earns £10 per hour before taxes. Petrol is currently £1.55 per litre in the cheaper supermarkets. That is for the lower calorific E10 variety, that the government is trying to get us to use under the guise of saving the planet. E5 petrol that gives me more miules per gallon, and is thus cleaner in reality is about 6 pence more expensive. Have you noticed that the green initiate that is supposed to be saving the planet always seems to result in the destruction of green trees and vegetation to be replaced by concrete, glass and other inert surfaces. I think I will start to refer to it as the grey new initiative.
Anyway back to the topic of this post. I am now certain that I will use the £50 to purchase a few Satoshis ( should the plural be Satoshii ). And I will use that to test my new Bitcoin node when I have downloaded the whole blockchain. It will be interesting to see how efficient an internal NVME M.2 will be. With the way things are going it will probably need to be a 2Tb version, and I hope this machine has a second slot for such a drive.

Alright, well, @humanvelocity, looks like you have a few options to choose from. Fine dining out, delicious steaks on the beach, or the thrill of restoring a classic car. But let me ask you this, why not eat your steak on the beach while restoring a classic car?

After all, what would life be without a little adventure and challenge. Talk about living a dream!

Hi, Jet Cash. If I am not wrong, You will be 81 on June 20. Keep that Cash for yourself and buy a good thing for yourself on your Birthday. Life is too short. You don't have to invest or save everything you win or earn. Sometimes we make and gather many things but cannot enjoy them. We don't have enough time to enjoy our life. We spend the most time on earning and savings for the future. But where is the future? What is the future? If you are old enough. Suppose you are over 70's. Enjoy every day. Don't overthink.

As You said many times, You are a Bitcoin Maximalist, and I believe you already hold a good portion of Bitcoin. Let it grow, and enjoy your fiat money. Give some good gifts to yourself. I may not be able to remember your Birthday on the exact day. But Happy Birthday in advance, Jet Cash. Live Long and Stay Strong.

if I was in your position, of course, the choice is very difficult but anyway (tell a little; I have been faced with a case that is almost similar to yours when I win a gamble, will I use the winning money to buy bitcoins or make it capital in multiples, in the end, I make it in 50:50 portions), all your choices are in your control, btw do you not have the plan to share it in 50:50 portions, I think it could be your option if you don't want to feel bad (like my case).