Topic: Moderately wealthy individual going cold-bloodedly all in (Read 5028 times)

But this thread is already 34 replies long and there has been only a single argument against the idea presented so far:

"There is a very real chance of bitcoin going to zero or otherwise so low that it will decimate any savings that were invested. You should only invest money that you can lose without remorse."

My friend replies: "I have a positive cash flow, a house and perhaps we'll keep $50000 or so in silver just in case. The rest (no matter how much it is) I can lose without it affecting our lifestyle, and that part I want to invest in bitcoin."

I think bitcoin is cheap at $50, if the present value is $2194.

Yeah, I personally subscribe to the 20-40% argument. Because that is also an unbelievable stash of purchasing power if/when bitcoin succeeds.


But this thread is already 34 replies long and there has been only a single argument against the idea presented so far:

"There is a very real chance of bitcoin going to zero or otherwise so low that it will decimate any savings that were invested. You should only invest money that you can lose without remorse."

My friend replies: "I have a positive cash flow, a house and perhaps we'll keep $50000 or so in silver just in case. The rest (no matter how much it is) I can lose without it affecting our lifestyle, and that part I want to invest in bitcoin."

In my work as precious metals dealer since 2006, I have got to know a variety of customers.

Now one of them revealed to me his plan of going all-in in bitcoin. I would like to follow your concerns to him.

As far as I know, this man (34) owns a house worth about € 400,000 and has a mortgage to about half that value. He also operates a business that does not have significant assets if realized, but is a specialist niche field and generates about € 100,000 profit per year. His wife is also a professional with high income but is 3 months pregnant to their 1st child. Their investments are in mostly in metals and also BTC, valued at least € 500,000 (this is hardest for me to estimate exactly).

He said that he thinks bitcoin will in all probability succeed and make them tremendously wealthy. Because nothing else is giving good returns just now, he thinks that there is no reason to keep money in other investments. Their financial situation is solid and both are able to generate income. They have their own house and live rather modest life as all Finns do. The investment is long term, there is no plan to use leverage or trade. Just go all-in and buy at least 15,000 BTC. I don't know what he wants to do with them when they are worth millions.

The argument that I just cannot refute is: "What is the point in having other investments that underperform, and what is the point in having cash, since BTC can be cashed when needed?"

+1. 10 BTC? Nuthin. $500 USD? Nervous.

I am not as "cold-blooded" as you are, only invested 20% of my savings, now whenever I trade it makes me super nervous coz when it's in BTCs it doesn't feel like much, when it's in fiats it feels like moving my whole bank account.

Not going to get into numbers, but it was about 80% of my total assets.

How "all in" were you? Mind some disclosure?

The argument that I just cannot refute is: "What is the point in having other investments that underperform, and what is the point in having cash, since BTC can be cashed when needed?"

I did the same thing a year ago. Dont regret it for a second 

I just wanted to make the distinction between doing something in a premeditated, calculating way, as opposed to arriving in the conclusion without the necessary time to think, and thorough analysis.