is it risky to turn all my money to bitcoins? - page 181.

Coin12

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Quote from: ninabobo on October 06, 2017, 11:02:53 AM

Quote from: jonathan6655321 on October 05, 2017, 05:15:45 AM

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

I have been buying bitcoin with a sizeable amount. and the rest I buy for investment allcoin and ico. I had a lot of speculation, but it was worth the money I earned.

So wise if you can use your money like this. Split it into some different coin is very good strategy. And also use money that you can afford to lose.

mx667

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Quote from: oegarod on October 08, 2017, 02:03:34 AM

Quote from: wolfracer on October 08, 2017, 12:46:11 AM

If you live in a country with a currency in constant devaluation, really isn't anything risky, otherwise, it would be the option most logical and prudent you would take.

Investing everything into bitcoin is something risky, because nothing is assured for tomorrow. Issues arise quite often and to overcome the same people need a stability, when everything is invested into it sometimes can't overcome. So it's good to diversify even if the devaluation of the currency happens.

I think investing all your money into something is risky. But it also depend on the thing you invest. In this matter, Bitcoin is risky. Because the price of Bitcoin can dump and rise. We do not know how long the price will go down, and how long the price will rise. But if you invest in property such as house, you will not lose. Because the price of property like house will always increase and will not decrease.

So I guess I have made my decisions like this :

I will invest 50% of my salary in Bitcoin
The rest of 50% will go to my bank account to buy food and pay bills

So what do you guys think ? My salary is around $200 a month because I live in a third world country.

bitcoinvamp

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yeah it is insanely risky to turn all of the money into bitcoins. as bitcoin is highy volatile u don't know when its gonna drop and when its gonna rise . but could lead you to loss if you convert your whole money into bitcoins. instead you should covert some amount into bitcoins and let them in the wallet and whenever you see that the price has gone up you could again convert them into real money and save it the bank

Golerm

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Quote from: oegarod on October 08, 2017, 02:03:34 AM

Quote from: wolfracer on October 08, 2017, 12:46:11 AM

If you live in a country with a currency in constant devaluation, really isn't anything risky, otherwise, it would be the option most logical and prudent you would take.

Investing everything into bitcoin is something risky, because nothing is assured for tomorrow. Issues arise quite often and to overcome the same people need a stability, when everything is invested into it sometimes can't overcome. So it's good to diversify even if the devaluation of the currency happens.

Probably the best advice in this thread. I would never invest more than 50% of my money in a single asset, just in case something goes wrong.

Destroyeroff98

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Quote from: jonathan6655321 on October 05, 2017, 05:15:45 AM

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

Of course, it's risky. I would not advise you to buy Bitcoins for all the money.
Although I'm sure that Bitcoin will increase in price, but you can stay for a while simply without money, if you invest everything.

oegarod

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Quote from: wolfracer on October 08, 2017, 12:46:11 AM

If you live in a country with a currency in constant devaluation, really isn't anything risky, otherwise, it would be the option most logical and prudent you would take.

Investing everything into bitcoin is something risky, because nothing is assured for tomorrow. Issues arise quite often and to overcome the same people need a stability, when everything is invested into it sometimes can't overcome. So it's good to diversify even if the devaluation of the currency happens.

pragna

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Actually all things in a house is always risky. No need to do this i think though is has a bright future. It may hack then you will lose every investment. Good and bad people in everywhere. So you can invest a risk free amount that you can bear.

wolfracer

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If you live in a country with a currency in constant devaluation, really isn't anything risky, otherwise, it would be the option most logical and prudent you would take.

pecson134

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Quote from: jonathan6655321 on October 05, 2017, 05:15:45 AM

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

In my opinion I think it is better that you invest just a part of your money on bitcoins and observe if you are profiting from it. There will always be a risk on everything you do when it comes to money or the likes but it depends on what action you will take. Just like in trading it does impose a higher treat than others but it does give you a much larger profit in return if you were successful enough.

naocb

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many friends ask me wether purchase bitcoin now, and i always tell them to start dollar cost averaging. extreme volatility is friend of long-term investor...
putting all money into something at one time is definitely gambling. good luck Grin

bololord

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Quote from: jonathan6655321 on October 05, 2017, 05:15:45 AM

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

Yes it's so risky to invest all your money in bitcoin but if you have a faith and trust to bitcoin i'll sure that you'll get a lot of profit someday becuase when you see the value of bitcoin is totally increasing and bumping up so just believe to bitcoin.

cpfreeplz

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I wouldn't exactly convert everything to bitcoins because if you have an emergency and you need to spend money you don't want to find a plumber or electrician that accepts bitcoins in your area (and is licenced / has good reviews).

Sithara007

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Quote from: chesthing on October 07, 2017, 07:07:11 PM

btc just climbed 10x over a short period and is near it's ath. No, this is not the time to go all in.

Not 10x. It climbed 20x during the past 1.5 years. And my biggest worry is that we haven't witnessed a major correction since then. So either the demand is so strong that a correction will not occur, or a very sharp correction is going to occur sometime soon. I can't predict which one of these scenarios are going to happen in the near future.

Gabz999

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Quote from: jonathan6655321 on October 05, 2017, 05:15:45 AM

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

Yes ! In crypto currency theres always risk but if you are a risk taker you can go all in. The golden rule here is "Invest what you can afford to loose" so be it, if you can afford to loose it.

Ziomuro27

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Of course it is. Turning all your money without thinking first will lead you to a risky way because we don't know yet when bitcoin will increase and decrease of it's value sometimes it decrease a lot so be careful. If you wanted to invest something give your self a time or be patient this will help you to make your bitcoin money increase and when that happen buy the things that you wanted and give yourself a time to make a decision on where you will use it .

crypto4lambo

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Of course it is risky. As the saying gies do not put all the eggs in ine basket. Learn to diversify my friend. There are so many opportunities to earn, Just look for something that suit your way of investing. It is always smart thing to learn how to maximize your earning, but always proceed with caution. It is your hard earned money so invest it wisely.

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Quote from: jonathan6655321 on October 05, 2017, 05:15:45 AM

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

I think it is so risky, we still can not find merchant who accept bitcoin in our town. But there are many in american continent. But if you brave and take the risk you will be rich man in the future

chesthing

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btc just climbed 10x over a short period and is near it's ath. No, this is not the time to go all in.

ClvrGmr

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Quote from: jonathan6655321 on October 05, 2017, 05:15:45 AM

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

Ofcourse it is. Putting all your money in bitcoin is a one shot decision. If fortunate you can double it but more or less it will just go to waste. Why is it recommended to invest to many things? It is because if one of it will fail to succeed you won't be losing everything. Unlike what you want investing everything to bitcoin may lead to success but most likely it has a higher chance of failing.

PacePay

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Quote from: yonjitsu on October 06, 2017, 05:18:04 AM

Quote from: tr3yson on October 05, 2017, 05:47:10 AM

Definitely yes! It is very risky but it is still up to you if you are a risk taker then go. But for me, I won't going to do that, just remember the phrase "Only invest what you can afford to lose".

Indeed very risky but looking at the value of bitcoin, it's really surging and looks pretty fine. If only i got enough money, i would invest in trading too and willing to take the risk because i think bitcoin is a long term cryptocurrency.

There is only one person who can make the best decision regarding putting all the money at one place or splitting it and that person is none other than the one who owns that money. In my opinion, it is indeed very much risky for the one who don’t know much about bitcoin to invest his whole earning into bitcoin. You can invest all in bitcoin when you are confident enough that you will not suffer any loss.

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