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Topic: Would you store all your wealth in BTC? - page 2. (Read 4858 times)

legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
December 23, 2013, 02:48:16 PM
#71
I'm getting the impression here that lots of people on this site have no existing wealth.

Yeah, too young. When they've fought for 20-30 years to accumulate wealth their attitudes will change. Why would I ever have have an IRA when I can always invest it all in Beanie Babies. lol
member
Activity: 112
Merit: 10
December 23, 2013, 02:45:43 PM
#70
I have all of my wealth in StableCoin.

Maybe it wasn't a good idea, as it dropped a bit, but I have faith in the future of cryptos in general. Especially with news like this:

>The International Monetary Fund Lays The Groundwork For Global Wealth Confiscation
http://www.forbes.com/sites/billfrezza/2013/10/15/the-international-monetary-fund-lays-the-groundwork-for-global-wealth-confiscation/

>Federal Reserve's Tarullo details plans to counter bank runs
http://www.cnbc.com/id/101222045

>IMF report, pages 50, and 59, detail a plan for a 10% levy on all assets of all homes with a positive income:
http://www.imf.org/external/pubs/ft/fm/2013/02/pdf/fm1302.pdf

>Target cyber breach hits 40 million credit and debit cards at holiday peak
http://news.yahoo.com/target-stores-39-customers-hit-major-credit-card-013358444--sector.html

>Millions of Target shoppers face new DEBIT card limits
http://www.reuters.com/article/2013/12/21/us-target-jpmorgan-idUSBRE9BK0D020131221
member
Activity: 70
Merit: 10
December 23, 2013, 02:35:02 PM
#69
I'm getting the impression here that lots of people on this site have no existing wealth.
legendary
Activity: 1316
Merit: 1000
Si vis pacem, para bellum
December 23, 2013, 12:56:39 PM
#68
if he waits until 2014 or even 2016 he might be able to buy something much much nicer !
everyones got differnnt ideas ,some folks  may think the best strategy is to  live in a box and eat dog food for a year 
or two while holding loads of btc lol

i  trade them for goods  whenever i can but have never cashed any yet and i have a strong belief in this technology
hero member
Activity: 546
Merit: 500
hm
December 23, 2013, 12:00:22 PM
#67
I have most of my wealth in Bitcoin  and other altcoins. But that's so, because I am a student and have not much wealth. In a few month I will hopefully earn a good income and will invest in other things like Bitcoin. But I am confident. Maybe I put half or one third in crypto currencies (let's talk in one year again).



that's so reckless to put all your wealth into BTC. as far as we know,  there is a 50/50 chance that BTC will even make it. no one really knows what's going to happen. it's fine to be for the bitcoin movement, but you could easily end up losing almost everything.

There is a 50/50 chance that BTC will make it but there is a 0% chance that USD would make it, if BTC crushes you would still have your farm land, real estate, businesses, investments etc since you only keep "change" in BTC, I am amazed at how many people didn't ready the original post.

I think the austrian economics predict the end of the dollar for 50 years and more. I like austrian economics, but the USD does surprisingly well the last couple of years.


All my wealth is in Bitcoin, though all of it has come from mining and trading.  For the past two years I have been living in a dirt cheap apartment, eating noodles, and barely going out.  I'm extremely fiat poor but have resisted any temptation to sell my coins.

I'm now trying to decide how I'd like to retire.

I hope you have not much BTC. I imagine a man with 1000btc but lives like a homeless man, because he does not want to change his bitcoin in USD to buy something nice. Then with the last breathe of life I send you a cake with "Was it worth it?".
hero member
Activity: 740
Merit: 501
December 23, 2013, 10:48:26 AM
#66
It would be stupid to do so... I have 98% of my wealth in buildings and 2% in bitcoins.

Then you have 100% of your change in bitcoins, as per my original post.
sr. member
Activity: 476
Merit: 250
December 23, 2013, 10:40:06 AM
#65
It would be stupid to do so... I have 98% of my wealth in buildings and 2% in bitcoins.
hero member
Activity: 740
Merit: 501
December 23, 2013, 08:46:17 AM
#64
The funny thing is that there are nearly no people that would store all of their "change" in BTC yet people keep complaining about early adopters being rewarded disproportionately...
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
December 22, 2013, 10:42:33 PM
#63
I find it unlikely that the 1% will just hand over their wealth to the nerds. Be prepared for a fight.

.... this is one thing the 1% pretty much have the same vote as everybody else ... if no-one is using your crap money, it doesn't matter how much of it you have.

Bitcoin is about non-violence.

current problem is almost  100% of the world uses the "crap" money
its harder for the 0.1% who have a better solution to make a btc  economy
when 99.9% are stuck on the old system .....at least in the early days

... no-one said it would be easy, but that is why early adopters deserve bigger payout because the odds are smaller the smaller the usage, in equal proportion to the risk that it will become widespread.

Btw, everytime one of the 1% buys some bitcoin they are indeed handing over their wealth to nerds ... and pure greed will just about ensure that they keep doing it more and more even though it is probably not in their long term interests, we'll see how much those grand money holding 'elite' truly understand money won't we, I guess?
legendary
Activity: 1316
Merit: 1000
Si vis pacem, para bellum
December 22, 2013, 10:31:17 PM
#62
I find it unlikely that the 1% will just hand over their wealth to the nerds. Be prepared for a fight.

.... this is one thing the 1% pretty much have the same vote as everybody else ... if no-one is using your crap money, it doesn't matter how much of it you have.

Bitcoin is about non-violence.

current problem is almost  100% of the world uses the "crap" money
its harder for the 0.1% who have a better solution to make a btc  economy
when 99.9% are stuck on the old system .....at least in the early days
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
December 22, 2013, 10:23:46 PM
#61
I find it unlikely that the 1% will just hand over their wealth to the nerds. Be prepared for a fight.

.... this is one thing the 1% pretty much have the same vote as everybody else ... if no-one is using your crap money, it doesn't matter how much of it you have.

Bitcoin is about non-violence.
hero member
Activity: 1328
Merit: 563
MintDice.com | TG: t.me/MintDice
December 22, 2013, 09:01:50 PM
#60
i'm pretty much all in on btc.  swings are pretty massive but idc.
member
Activity: 70
Merit: 10
December 22, 2013, 07:38:20 PM
#59
I find it unlikely that the 1% will just hand over their wealth to the nerds. Be prepared for a fight.
sr. member
Activity: 341
Merit: 250
December 22, 2013, 07:14:51 PM
#58
i wouldn't have any wealth it wasn't for bitcoin and litecoin so its kind of hard for me to branch out at all.i do have pretty nice silver coin collection so i guess that would count too, but its insignificant compared to crypto, really just a way to deal with impulse spending.
newbie
Activity: 22
Merit: 0
December 22, 2013, 07:02:49 PM
#57
I think it depnds on what the future of all currencies will be. a total paradigm shift could occur - the nerds will now be the op 1%?
legendary
Activity: 1176
Merit: 1011
December 22, 2013, 07:02:15 PM
#56
But would you make the switch to completely close off all your bank accounts and store all that "change" in BTC?
I wouldn't originally, when I started with Bitcoin, not yet. But nowadays more than 95% of my total net worth is in BTC, and I have no intention to change that Smiley
legendary
Activity: 1988
Merit: 1012
Beyond Imagination
December 22, 2013, 07:00:25 PM
#55
Bitcoin is a wealth token  Grin
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
December 22, 2013, 01:27:16 PM
#54
Judging by the replies I don't think a single person has read the actual post...

I think they have. I think everyone assumes by "change" you mean disposable income. I wouldn't keep all of my disposable assets in any one form. I hold a few different forms like Bitcoin, gold, shares of common stock, IRA etc.

It's always preferable to diversify. Concentrating your assets is a recipe for failure.
full member
Activity: 182
Merit: 100
December 22, 2013, 01:05:06 PM
#53
No I can't think of reason why I would keep all my wealth in bitcoin. But more than money, one of the best things you have is yourself. By that I mean your skills and your relationships.
hero member
Activity: 740
Merit: 501
December 22, 2013, 01:04:27 PM
#52
Judging by the replies I don't think a single person has read the actual post...
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