LOOKING TO INVEST MY LIFE SAVINGS NEED ADVICE

noormcs5

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Quote from: Genamant on April 20, 2019, 11:08:39 AM

Rule number one of investing; don’t invest more than you can afford to lose.
well if you decide to invest youre life saving you as well be decided to lose it.

Well, if the life saving are invested in a proper way and place, they will never be lost. The best advise from me is to invest in bitcoins only. If you are not a trader and not a tech related person, saving the bitcoin in your wallet for long term could be the best and safest option and you cannot lose anything if you invest in bitcoin now. (As BTC is cheap these days).

virasog

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Quote from: yonjitsu on November 12, 2018, 06:16:45 PM

Mining is really very expensive one because of the fact that you have to build your mining rig with the most new model of its hardware. Also, don't forget to include your power consumption through mining that will certainly costs you a lot.

Mining will not be suitable if you do not have some technical knowledge about it and also if the electricity in your area is not cheap. I will not recommend mining at all.

Quote from: vteihdx on November 12, 2018, 07:28:00 PM

If you can, you can try investing in China's stock market, which is just like the US stock market ten years ago.

So you are advising investment outside cypto ? Well, people here want to look for the investments with the crypto currencies.

Genamant

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Rule number one of investing; don’t invest more than you can afford to lose.
well if you decide to invest youre life saving you as well be decided to lose it.

boyptc

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Quote from: cryptolord2077 on April 19, 2019, 02:41:21 PM

All that I can advise you is not to invest everything, limit yourself to a small part and even break this part into smaller parts. All the same, investments involve risks, and it is not so easy to accumulate now.

Remember the words of Warren Buffet about not putting your eggs in one basket though this guy hates bitcoin.

cryptolord2077

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All that I can advise you is not to invest everything, limit yourself to a small part and even break this part into smaller parts. All the same, investments involve risks, and it is not so easy to accumulate now.

gabmen

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Quote from: Akagum on February 22, 2019, 07:10:16 AM

The investment plan is good even though there isn't much profit in it these days .
I for one would not advice anyone to investall there life's savings in one investment.
You can diversify so your fingers don't get burnt in situations where the investment fumbles.

Well who would be foolish enough to advise such risk? And who would be foolish enough to heed such advise? It's common knowledge among investors to diversify your portfolio. And you'd also want to keep some as your savings in case of emergency pusposes.

ApocalypseNow

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That is why it is called life savings because it serves as an emergency fund for you in case anything happens to you that need immediate cash. You shouldn't use it and you should use an amount that is outside that savings like your money for your hobbies or vices.

Akagum

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The investment plan is good even though there isn't much profit in it these days .
I for one would not advice anyone to investall there life's savings in one investment.
You can diversify so your fingers don't get burnt in situations where the investment fumbles.

pedangrusak

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investment in mining tools is currently less profitable in my opinion because the price of bitcoin and altcoin continues to decline and this will burden the operational costs that must be paid every day or week, if you are serious for long-term investment then buy some potential crypto coins which are divided into portfolios and you must do in-depth research on the selection of coins to support profit and minimize losses

vteihdx

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If you can, you can try investing in China's stock market, which is just like the US stock market ten years ago.

yonjitsu

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Mining is really very expensive one because of the fact that you have to build your mining rig with the most new model of its hardware. Also, don't forget to include your power consumption through mining that will certainly costs you a lot.

acarli

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You posted in November 2017. I hope you sold quickly afterwards. Unfortunately, a lot of people were making some big investments. I think we are past the "Capitulation" phase of the chart below, and entering the "despair" phase. I hope I am wrong.

I think going forward BTC will be a vehicle for wealth, not a means of obtaining it.

gamechangers

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Did I get you right that you want to invest your life savings on cryptocurrency Mining? Please don't embark on what you may end up regretting. You may not recover your investment at all and this will affect you adversely. As at now, bitcoin and ethereum mining is a no for me.

hermankoles

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mining will continue to be used as long as bitcoin and ethereum exist and this is good for your future regardless of your fluctuating market prices you will still make a profit. buy an assistant for bitcoin mining and other types of minerals depending on the power hash and the price they sell, if you want mining ethereum then buy a VGA that is enough to be parallelized to produce a large hashrate to mine ETH. the settings are quite easy and profits will flow every time to your personal wallet

Lotermity91

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Quote from: shekt4 on October 23, 2018, 08:02:09 AM

Quote from: moeowaynat on November 14, 2017, 02:13:15 AM

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.

Thank you

Lol...cool !! It's a great idea! More people going into mining is a great way forward; just that currently, mining isn't really profitable for the individual miner....except of course institutional....group of wealthy guys can decide to form partnership and go into mining btc or eth and get some really profits....i will recommend you just look buy some good crypto and hold for the long....bitcoin must be in your portfolio with good amount invested in some altcoins......if possible invest in some good ICOs....

Of course all will give the suggestion to invest half of the savings because it is the best option, although he can invest all his money at one time and in one currency. But when he asked for advice now it is his right to give him the best advice. Observe the market, select a coin or different coins and put your money in it, that all. Leave the rest on time.

tradjecide

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Quote from: primer61 on October 20, 2018, 08:05:41 AM

Quote

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.

I would strongly advice against investing all your life savings in anything related to Crypto. But if you`re so determined, I`d suggest investing not in mining equipment, but in Crypto trading - this way you more or less have conrol over the situation and your funds, while with mining you have very limited control over what`s going on with your investment.
Just avoid ICOs - invest in more stable coins to make your invesment more stable.

I would like to advice you not to put all your money in cryptocurrency. It is very risky and if the price go down you may lose all your money. You can try this world from small investment and if you find it good then the doors are open you can invest more in it. If you want to invest all of your money then split your investment in different coins. it is much better than buying one crypto.

ThankThake

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Quote from: moeowaynat on November 14, 2017, 02:13:15 AM

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.

Thank you

Investing your life savings is a huge risk to take, you might invest your money with plans that the price will increase at a particular time but things might happen not to go that way as you expected it to be and you will end up losing a huge percentage of your investment. Some people tried that earlier this year and price dropped and most of them lost more than fifty percent of their money out of thinking that price will continue to rise.

splacque

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Quote from: Barbut on October 20, 2018, 12:49:10 AM

Invest in yourself and you will not make a mistake. Invest education, if you have money for that go to school, learn something that will make you more money. Learn about programming, web design, or something else, that depends from what is your passion in life. Invest a little part in cryptocurrencies, but investing in education is much better option.

Quote from: IndeecV on October 14, 2018, 02:01:31 PM

Why are you discussing this? A man asked for advice almost a year ago, I do not think that this is relevant for him now, as well as mining in general for individual mining is not a very promising direction for a very long time.

Why not? You don`t need to mine bitcoin, there are other good mining options. Its all about what kind of equipment you have, with good equipment you can mine bitcoin but for that you need a lot of money. People still discuss this cause they don`t pay attention on previous posts, I discuss it cause I think I gave another point of view, nobody say nothing about learning and education, maybe some new people will check this and see some good suggestions.

May be he has done all that you are suggesting him. Now he wants to invest in cryptocurrency. You should tell something about crypto world. Anyway I want to tell you should split your money between different coins. If you have big money, you should buy some bitcoin, Ethereum and Ripple, so that your profit chances will be more because all the currencies will not drop at one time.

shekt4

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Quote from: moeowaynat on November 14, 2017, 02:13:15 AM

Hello Everyone,

I need your help! I have been doing research on what hardware to buy to mine Ether and Bitcoin. I'm investing my life savings so this is really serious for me so if you can help it would mean alot. I have alot of space for equipment so that wont be a problem. I need help figuring out what equipment to buy for ether and bitcoin minning, and how much it will cost me? Any advice will be much appreciated.

Thank you

Lol...cool !! It's a great idea! More people going into mining is a great way forward; just that currently, mining isn't really profitable for the individual miner....except of course institutional....group of wealthy guys can decide to form partnership and go into mining btc or eth and get some really profits....i will recommend you just look buy some good crypto and hold for the long....bitcoin must be in your portfolio with good amount invested in some altcoins......if possible invest in some good ICOs....

Beegovere

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Quote from: db-zz on October 18, 2018, 10:39:33 PM

Totally agree that all-out investment is not a smart decision. For investment purpose, voalidity and risk should be always put into consideration. In cryptocurrency world, there're mainly business forms like this: opeing exchange, mining machine, wallet in payment field and other deriviate product. I personally suggest invest in payment field with either less volatile and lower cost to run. Bitcoin ATM would be the best choice to most of ordinary investors to get involed in cryptocurrency business. Here is one for your reference.
www.dobiatm.com/twowayatm-violet.html
Email me if you need help with Bitcoin ATM. [email protected]

Everyone will advise you to invest a part of your investment in cryptocurrency and see the results. If you are satisfied and think that it is good than any other investment, then you can add more money in your investment. If you did not satisfy with this investment, you can put the rest of your money in some other business. But it is not good to invest all your money together.

Topic: LOOKING TO INVEST MY LIFE SAVINGS NEED ADVICE (Read 6030 times)