Topic: Losing your life savings on BTC? Hurting everyday? - page 2. (Read 854 times)
So smart people will do that, smart investors only invest the EXTRA BUCKS, not everything they have.
absolutely do not agree with the author. bitcoin will cost crazy amounts in the future
Although I agree that it is easy to lose your hard earned money on bitcoins, do keep in mind that when it comes to digital currency, it is important that you learn and understand about cryptocurrency before you start buying or trading. It is risky, that much is true, but if you are patient and continues to learn about bitcoin and crypto, then you will not lose your hard earned money just like that.
It is even stupid if experts in gambling would gamble with over 30% of their networth, let alone 100%. With its high volatility rate, investing one's life savings on BTC is extreme foolishness in my opinion, though i doubt if anyone will even take that risk. But if you're considering it, please take a pause and pray for wisdom... thats the worst decision anybody can ever make in the crypto world.
I do not think it's worth spending all your savings on bitcoins. It's wrong to take that risk. Of course, everything can work and you are lucky, but on the other hand you can lose all your money and be poor and sad 
You shouldn't compare bitcoin with a lottery ticket, like comparing people who looking for lucky and money and people who believe in something and spend money want it to grown and develop to change the world.
Well, although I lost some good amount of money this year to bitcoin trading, I have picked up the pieces of my life and decided to move on. I can't regret everyday, it's in the past. I am sure bitcoin holds something great for us in future. I just need to be careful this time. But I not thinking about my loss anymore.
I also think like you, you can invest but do not use all your money, you have to leave a little for your own needs, something stupid when boldly sell all the assets that have to play in the world of crypto.
People buy lottery ticket all the time, that’s total fine, spending $5 here and there for fun. But if you mortgage your house to buy lottery tickets you are crazy.
Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.
If you spent your life savings buy Bitcoin, get out now while you still have something left! New crypto currencies are coming to replace BTC. Stop torment yourself everyday watching your money goes into red day after day after weeks after months.... you will spend your retirement working at McDonald’s trying to earn it back!
Losing life savings in bitcoin would literally hurt you everyday, but its up to you on how you manage your bitcoin. Thats why they always say investing in bitcoin would be risky. It depends on you if you are willing to invest or not. You need to have right and enough knowledge so you can hadle different bad scenarios in bitcoin. Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.
If you spent your life savings buy Bitcoin, get out now while you still have something left! New crypto currencies are coming to replace BTC. Stop torment yourself everyday watching your money goes into red day after day after weeks after months.... you will spend your retirement working at McDonald’s trying to earn it back!
People buy lottery ticket all the time, that’s total fine, spending $5 here and there for fun. But if you mortgage your house to buy lottery tickets you are crazy.
Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.
If you spent your life savings buy Bitcoin, get out now while you still have something left! New crypto currencies are coming to replace BTC. Stop torment yourself everyday watching your money goes into red day after day after weeks after months.... you will spend your retirement working at McDonald’s trying to earn it back!
Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.
If you spent your life savings buy Bitcoin, get out now while you still have something left! New crypto currencies are coming to replace BTC. Stop torment yourself everyday watching your money goes into red day after day after weeks after months.... you will spend your retirement working at McDonald’s trying to earn it back!
That would really hurt if they loose all their savings specially if they had invested all in bitcoin and it goes down all the way. But i think it will not happen bitcoin will recover we just have to wait and believe and do not invest all your lifetime savings into one basket keep something for the future.
I think the price of Bitcoin isn't always an upward movement.This fluctuates from time to time, very volatile.Learning how it works and how the market goes is very important before entering the crypto world. but before investing in bitcoin,you need to do market research first because it is necessary to know the price you bought.If you buy for a long time,you can make a profit in the future.
I deleted more than 100 btcs of wallets when Bitcoin just started, yeap hurting every single day
Yes it is true that losing your life saving on BTC. Hurt everyday because here in crypto it is normal to lose if you are just a newbie and you do not know yet the crypto industry. You should also know how to invest properly and how you will not lose and you should not invest all of your savings so that you will not lose what you can't afford and if you lose you still have some money that you can use for your daily needs.
Maybe because people take chances that's is why they're doing it, they just want to take a risk in expense of something they believe is great, well people have diiferent views in life and we cannot force them to believe what we believed, but the thing is they were challenge to do so and when they hit it, jackpot! they feel great as well and their pride seems to boast and they thought they made a right decision and so spend it to whatever they want or planned to do.there is a saying that says wisdom is profitable to direct. it is adviceable not to put your whole eggs in one basket what do i meant, it is just simple, as you carryon wirh plan A you should have a plan B for backup. it is not reasonable to put your whole life savings in bitcoin the market is not stable as we all know as a wise person you should know it and avoid anything of such nature. it is very hurting to wake up one morning discover that all your whole life savings just vanished through just one source. be wise!
I would like to say that the idea of selling get your house to buy Btc is absolutely a bad decision in the first place because the golden rule is and has been to invest ands much abyss you can afford to lose.
However, I don't think it is a torment to see Btc value fall irrespective of how much you have on vested if you actually understand Btc.
However, I don't think it is a torment to see Btc value fall irrespective of how much you have on vested if you actually understand Btc.
People buy lottery ticket all the time, that’s total fine, spending $5 here and there for fun. But if you mortgage your house to buy lottery tickets you are crazy.
Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.
If you spent your life savings buy Bitcoin, get out now while you still have something left! New crypto currencies are coming to replace BTC. Stop torment yourself everyday watching your money goes into red day after day after weeks after months.... you will spend your retirement working at McDonald’s trying to earn it back!
Same thing with bitcoin. Spend a few grand for chuckle is fine, chances are you won’t see your money again. Heck I would pick up a few bitcoins too when it drops below $100.
If you spent your life savings buy Bitcoin, get out now while you still have something left! New crypto currencies are coming to replace BTC. Stop torment yourself everyday watching your money goes into red day after day after weeks after months.... you will spend your retirement working at McDonald’s trying to earn it back!
Yes like you stated above, if you want to do something, never put all your effort or money to it, it will be great if you could achieve your target, but if you couldn't that's just make you feel down.
As for me. I have never lost any coins because i am sticking to the long-term holding strategy and think that it is possible to earn good money if i am patient and can wait unil the price increases
What's the essences of losing your life saving on BTC!! who's going to use the money you have worked for after many years of labor!
Who would ever put his life savings to an investment? We'll I think some guy who can afford to lose his life savings by taking risks to a very risky and volatile investment. There is no assurance whether he'll earn profit or totally lose all his savings. And if you think you can buy bitcoin at $100, that will never happen cause bitcoin will fall down but not that far. Maybe you should wait up to $3k, that is more possible than a $100 price of bitcoin.
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