Topic: is it risky to turn all my money to bitcoins? - page 12. (Read 37346 times)

All kinds of investments are never certain and always guarantee profit, let alone bitcoin investment is full of turmoil, it is too risky to put all money into bitcoin because if the price goes down will certainly make us depressed.

First of all, you need to eat. Secondly, you have to have some savings for your sudden need. Investment is not a job, so you should have a job before investing. Because there are also fools who quit their jobs to invest. And he had a child and wife who must be fed, how stupid. Investment may not be able to give us a profit, may give us a loss. Even investment in gold, land, and homes can be fatal in the event of an economic crisis. Especially if we hang our money on the crypto that we know is always uncertain and the price is always up and down drastically. You must be sure and never sell if you can not profit.

Yes it is risky to turn your money to bitcoin as all . And also same to put all your money in the bank nobody knows when will those collapse. In my opinion turn 75% of your total to bitcoin, All things have risk too.

Only a greedy individual would turn of his money into something as volatile as Bitcoin. It is highly risky.

It is only risky if you are not 100% sure what you are doing.

Yes, that would be an obviously insane and foolish thing to do. Even if the volatility was greatly reduced, it would still be a foolish decision - there is far too much regulatory uncertainty to commit to that as a strategy, and anyone who says otherwise its being intentionally ignorant. That said, its not bad to hold a substantial sum, but to hold everything in any single investment would be crazy.

yes it is risky to turn all money into bitcoin u should enough fait to play very often

Yes its risky but the risk will be reduced if you study more about bitcoin and the crypto market and learn how to have strong hands. If you want to earn big, risk big.

Yes, it's highly risky to turn all your money into bitcoin. «Only invest what you can afford to lose» - basic investment rule. One can invest in altcoins. Altcoin is also a good investment.

I think Bitcoin potential is still too high. But still it is not advisable to put all your eggs in one basket. Why not diversify it. Maybe half into Bitcoin and the other into other promising altcoins or just put it in your bank account for emergency purposes.

As a matter of fact it is risky That's very risky. L BTC market is still very volatile, means if all u need is bitcoin dependant n with those up and downs. You might be in need when the price is down therefore you won't be able to supply your needs. I advise you to keep some for your safety.

When you have enough money except bank you can  try to invest like this but it's risky anyway because price is very volatile and you can lose everything at any moment.

I suppose the author of this post has not done it and now he is not sitting being shocked that Bitcoin is in a dip. It is always risky to invest all the money into crypto. Try using not more than 30% of your funds.

It all depends what you do, so if you move your treasure to bitcoin, it is just to your luck alone, if it goes up then you must be lucky that you have ..

It's always good to make your money work when you have an opportunity but be careful with investments because sometimes you can lose everything at once.

Depends on how much you can lose and why you are doing it.

I think it’s a great idea to get at least some exposure, but converting 100% of your life savings is highly risky if you don’t have emergency money.

Only if you are prepared to lose all of your savings. Bitcoin is an extremely risky investment, though with a large potential upside if you believe it could become a mainstream payment protocol and currency. It's about as high-risk high-reward as it gets.

Government Policy Risk: While the government of US has not acted directly against the currency, its not clear what the policy is. If the government were to take action against Bitcoin exchanges etc your money could become inaccessible for months/years/indefinitely.
Exchange and Online Platform Risk: There are exchanges like Mt Gox that are facilitating the Bitcoin trades but they are not decades old proven entities like Goldman Sachs or even an E*Trade. Errors on their part may result in huge losses for you.
Technology Risk: While everything I have read so far makes it seem like Bitcoin is designed by a genius (or a group of geniuses), the only way you know something is built to last is to wait. We just haven't had enough time pass for us to know what if anything could be fundamentally or implementation-wise is broken and/or can be broken by crooks. Remember, we just found out that the NSA was breaking SSL. So never say never.
Bitcoin Uniqueness Risk: Bitcoin has lots and lots of unique features and advantages that you can read about. However, I find one particular risk that you can drive a truck through. Compared to US Dollar (or Euro, Pound, any national currency) which by definition can have only one of each - and therefore is limited in number of 'types' of currency. So while in theory the Federal Reserve can print infinite dollars, there is only one Federal Reserve with only one dollar. But nothing prevents "multiple Feds" to exist in the virtual coin world - you can imagine an infinite number of currencies each with a finite number of coins. We already have Litecoin. What prevents me/you/anyone from creating Goatcoin, Sheepcoin, Bitcoin2, Bitcoin3,..BitCoinN? Why should Bitcoin then retain its purchasing power except for the first mover advantage.

Usually. The best choice is diversification all money into different cryptocurrencies.

We all take risk because we want to make money by investing but it's not wise to put everything we have as investing was never
guaranteed a way to grow our money, there are chances that we might lose so we have to consider that possibility as well.
The golden rule is always invest what you can afford to lose, that's all.