Losing your life savings on BTC? Hurting everyday? - page 8.

Real14Hero

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Quote from: BitcoinNewbie15 on June 24, 2018, 05:00:25 PM

Quote from: NewCryptonian on June 24, 2018, 03:54:23 PM

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.

It will never drop below $100. If it did it would be game over and pointless to buy them anyways. Bitcoin will be the reserve currency of the cryptocurrency market. There is no point for it not to be.

Quote from: NewCryptonian on June 24, 2018, 04:33:15 PM

How many people here lost big on BTC? Stop the madness now while you still can! Russian government will soon flood market with crypto currencies

I doubt this, how do you know what the Russian government will do? Who cares anyway? Let them flood the market with cryptocurrencies. There are already thousands of them, what will a few thousand more do? This has nothing to do with Bitcoin. Bitcoin will always have a fixed supply, there is nothing any government can do to change that.

It can always drop to below $100, and beleive me people will still like to buy it and it will recover, not soon but at some point of time it will.

Tambu

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Of course, if you lose it hurts. Mostly if you bought a token when it was high then it really hurts.
But it can recover in the next quarter. Mostly the price increases on that time

m00nsh0t

newbie

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I think you can't compare cryptocurrencies with playing the lottery. The latter is pure luck, whereas with cryptocurrencies we're talking about an emerging industry, which created a totally new asset class and gave rise to a new market. If you believe in the tech, then there's nothing to fear. The problem with most people is that they only think short-term gains instead of long-term investments...

yvuj101

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Quote from: pooya87 on June 24, 2018, 10:26:21 PM

Quote from: NewCryptonian on June 24, 2018, 03:54:23 PM

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 think these two are the same thing then you are the idiot!

of course there is no argument that investing your whole life savings in bitcoin is a terrible idea but it is nothing like buying a lottery ticket. it is simply because of chances.
when you buy a lottery ticket first of all you have no way of speculating whether you will win or not and second you have a minuscule chance of winning.
on the other hand when you invest in bitcoin you do have a way of speculating whether you will make a profit (win) or not and also your chances are not at all small.

I cannot afford to loss my life just in gambling we are here to adopt new technologies even if I don't have profit but still yet I can earned knowledge on how to deals with businesses this is a big opportunity that BTC gives us. Don't feels hurt we are only assuming to be rich a good ambition of a good human.

etron

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it's a big mistake you make for gambling because in gambling if we're not lucky then we'll go bankrupt, better in this investment we do for our future and find a profitable investment place is not a disadvantage.

dohh

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Quote from: NewCryptonian on June 24, 2018, 03:54:23 PM

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!

Thats not a fair comparison. When people buy a lottery ticket, it has their expected negative ROI written on the back side (or on sellers web page). In case of Bitcoin people think, they invest into high tech future solution. That is called a fraud.

jose111

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Quote from: NewCryptonian on June 24, 2018, 03:54:23 PM

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!

Actually, every person has a different believes and prescription in life. We have different set of minds therefore we our own decisions making so I think encouraging others to finally stop involving to bitcoin is depends in ourselves. Most of us even they are experiencing downfall they still believe and strong foundation of trust to btc and its because they are proven and tested it. In fact, in a long period of this system existency as of now it's still remain strong and leading cryptocurrency for all times so I think that we are not in good position to tell to stop involving to it because I believe that the time only can tells.

spadaccino

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You had to buy what you can lose - as always - do not make that mistake again otherwise you'll get hurt

idex100

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Bitcoin will not likely be replaced by altcoins or other cryptos.rightly noted, crypto investments carry significant risk and we should not use all our savings

xandriel

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I totally agree with you that we should spend all your saving asset for Bitcoin. That is a gambling. but if you can spend time to research and trade BTC and altcoins, you will be richer.

Macai

full member

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If you know and you don’t have peace investing anymore then don’t go spend your money in Bitcoin rather spread to altcoins there a lot of altcoins now going out from the market. Choose carefully and search background if those coins are going to be stable someday. Instead of investing everything in Bitcoin which is dropping but of course we don’t know when will rise again. Be patient instead.

darkangelosme

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Quote from: NewCryptonian on June 24, 2018, 03:54:23 PM

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!

Maybe you're right sooner or later other cryptocurrencies will replace the lead of bitcoin someday, but it seems like and i feel you are only here to spread some fud Grin

, you are not concern at all in my opinion.

pooya87

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Quote from: NewCryptonian on June 24, 2018, 03:54:23 PM

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 think these two are the same thing then you are the idiot!

of course there is no argument that investing your whole life savings in bitcoin is a terrible idea but it is nothing like buying a lottery ticket. it is simply because of chances.
when you buy a lottery ticket first of all you have no way of speculating whether you will win or not and second you have a minuscule chance of winning.
on the other hand when you invest in bitcoin you do have a way of speculating whether you will make a profit (win) or not and also your chances are not at all small.

Dudeperfect

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It is always recommended again and again not to invest more than the loss-bearing capacity of the investor. Bitcoin and crypto industry is still in the early phase of development and no one is sure what is going to happen down the road so in worst case scenario the investor might lose his entire capital invested in the market so he should never invest the amount which he can not afford to lose. In fact, it is recommended not to invest more than 5% of investible surplus.

Remainder

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If they are planning to flood with new crypto and some crypto will replace bitcoin then I still use that opportunity for my self to have profit on it, but still I trust on bitcoin and I never loss hope, my life is already change because of bitcoin.

rollingstorm45

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I'm not fixated on bitcoin alone, there are still altcoins that have a pretty good future, of course we all will understand, which coin will replace the existence of bitcoin
only time will show us

Conney attack

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i hope we go back soon i buy bitcoin at 10k im little sad

KingScorpio

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Quote from: ralle14 on June 24, 2018, 05:42:47 PM

Quote from: NewCryptonian on June 24, 2018, 03:54:23 PM

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!

If Bitcoin reaches $100 these new coins including other altcoini will probably be worth less than a dollar because alts are mostly traded with BTC. It would take years before any crypto could take the spot of Bitcoin. Spending too much on something isn't always recommended and if someone did it's a lesson for them they should know the risks and expect to lose money every time they buy some Bitcoin.

Dont worry there will be countless corporate and infrastructure currencies that will take bitcoins place

For example Iter, fusion research or space exploration etc

ralle14

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Shuffle.com

Quote from: NewCryptonian on June 24, 2018, 03:54:23 PM

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!

If Bitcoin reaches $100 these new coins including other altcoini will probably be worth less than a dollar because alts are mostly traded with BTC. It would take years or a decade before any crypto could take the spot of Bitcoin. Spending too much on something isn't always recommended and if someone did it's a lesson for them not to be greedy they should know the risks and expect to lose money every time they buy some Bitcoin.

SportbetMaster

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https://assetsplit.org/

yes bitcoin is a lottery ticket, it was a winning ticket for those who adopted it early, and will always be for those who want to adopt it now, even if there will be other cryptocurrencies that will try to dethrone the bitcoin but they will be forced to go through the king BTC and follow the queue and walk behind, like all those who tried before.

Topic: Losing your life savings on BTC? Hurting everyday? - page 8. (Read 854 times)