NO! Do Not Invest all you have on Bitcoin and Cryptocurrencies - page 33.

earnestoshodi

newbie

Activity: 75

Merit: 0

Quote from: solkinsolali on July 26, 2018, 12:27:16 PM

I have read several posts on this forum where people have claimed to have invested all the money they have on Bitcoin, I also read a post where a guy claimed to have used all the $20,000 his uncle gave him to also invest in Bitcoin, some even sold their landed property. The reason for these risks and others is the firm believe that Bitcoin would be $50,000 - $100,000 by the year 2019 or thereabout.

First, I must say that I admire the courage and high risk appetite of such persons. But, I must also warn.
Yes, It is good for everyone to have high hopes for Bitcoin, and also hope it gets to 100k USD in future, but you should also consider a safety factor in anything you do including investing.

Mathematically,

DO NOT Assume,
P(Success of future term) = 1 ; and
P(Failure of future term) = 0

This implies that, you must always leave a little fraction for probability of failure which in this case is the safety factor, no matter how little the fraction may be. Simply put, you don't have absolute control of what happens to Bitcoin and Cryptocurrencies in the future.

Invest wisely, only invest what you can afford to loose

Just a piece of advice.

What are your own suggestions?

There are no certainty in any investment, and much more so for cryptocurrency which are a new investment class.There is wisdom in diversification.

tunapa

jr. member

Activity: 667

Merit: 1

I think we need to warn against greed and let the wise hear and cut their greediness. This is very important. Just remember, nobody knows tomorrow. Nothing is certain, investment is risky, only invest what you can afford to lose, never borrow to invest, never borrow more than you can afford to pay back. All these are simple nuggets of investment that everyone needs to know so as to play safe investing.

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

I don't believe that investing all your money in crypto is more dangerous than investing in anything else. THere's always a chance of failure in everything you do. You can fail by getting cancer and dying, being killed in your car while driving home, getting robbed. To me cryptocurrency offers a very high probability of success. Much greater than real estate and other so called safe investments. When you're poor you have to take risk or you will never achieve anything.

emberbekas

legendary

Activity: 1904

Merit: 1000

Quote from: 3acaga on July 26, 2018, 02:00:50 PM

I'm interested in bitcoin for 2 years, and for me it's my hobby (a piggy bank for my pension). I have a job, family and children-how silly should I have my head to risk everything or the last? Grin

I, too, can not understand people who invest all means or the latter in bitcoin.

We should only invest some money that if we lose it, we will not suffer so much. And one more, investment would be ideal if we use the money that we will not use in a relatively long time. Thus, whatever happens with our investment, our minds can be a little quieter because we are not in a depressed state. Risking most of our money in investment for sure will give us a big presure that will lead us to make a panic decision when something unexpected occur.

cizatext

member

Activity: 952

Merit: 41

When it comes to investment we have always been advice not to invest all our found in one business platform and bitcoin is not an exception due to the fact that investment had to do with risk taking so at that you should always invest what you can afford to lost in any investment and also try to diversify your investment.

Vickyrichy

member

Activity: 209

Merit: 12

I perfectly agree with you. Most people see bitcoin investment as a means to become rich within a short period of time, so they invest all most all their money just to double or triple it. They have forgotten that bitcoin is a digital currency and its price value can change.

AngelSky

hero member

Activity: 1008

Merit: 537

You may find the bitcoin price drop again with in some weeks but price will be recovered end of the August month again then we will find the bitcoin directly go to skyrocket and touch its peak value again in the market.
I love to invest on the altcoins which is top in the rank nowadays. Then you will find the bitcoin price up dude.

Wendigo

legendary

Activity: 2604

Merit: 1036

Diversification of the investment portfolio is key. Putting all your net worth into Bitcoin is asking for trouble. Yes, you could luck out and become super rich if you get early on the bandwagon, but it's also true that you could lose everything and have to live on the streets afterwards. I think the real danger is for the late wannabe investors who are trying to emulate the rags-to-riches stories of early adopters. Those people, blinded by greed, can't day trade properly and once in a downward spiral incur massive losses. So be careful people and always remember that some people have to lose money in order for you to gain money and vice versa. Don't be on the losing end.

3acaga

member

Activity: 462

Merit: 12

I'm interested in bitcoin for 2 years, and for me it's my hobby (a piggy bank for my pension). I have a job, family and children-how silly should I have my head to risk everything or the last? Grin

I, too, can not understand people who invest all means or the latter in bitcoin.

kanayaTabitha

sr. member

Activity: 980

Merit: 252

addition of me is you can manage the money you make from cryptocurrency into a real effort. do not forget you also have to sit down and wait to get great results. all that will be destroyed when you expect too much .. I think the risk to sell the land or house it is not recommended you can start all of the small ..

mrcash02

hero member

Activity: 1190

Merit: 525

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Responsability when investing money is always very important. Your advice is valid and very useful for those who are enchanted by Crypto-Currency world, what is very common in newbies case. They discover Bitcoin and think their money will be doubled, tripled, quadrupled in a short time period and invest more they can't afford to lose. The result can be a success or a disaster... Both consequences must be taken in consideration and a 'safety factor' strategy, as you say, should be used.

Invest in BTCs, but invest in other options too, even if the returns are low, but safer. Operating in different fronts you won't be surprised later by unexpected losses or worse, unrecoverable losses...

trecore4

sr. member

Activity: 658

Merit: 260

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Interestingly true. This is the fact and many people does go bizarre about the investments that they make in here. Many times people are too bitcoinholic, who dont even think before investing their money and later on they may see upside down situation. Later they argue about it, get stressed out and start calling the bitcoin as scam or ponzi scheme. I have read all of these over the forum only and seen how people have made big mistakes like you mentioned here. Its always great to stay safe with minimum investment or the money which you are affordable to loose. Thats the only advice in this case Cheesy

ethancer

newbie

Activity: 23

Merit: 0

If someone is considering investing all they have into crypto, they shouldn't be investing at all, anywhere. Never invest money you can't afford to lose.

Daniel91

legendary

Activity: 3374

Merit: 1824

Very good advice.
In fact, I think that everybody should understand that crypto market is the same as any other market, stock market, Forex etc.
It's very risky so please be careful before investing.
The best strategy, in my opinion, is to invest only money youcan afford to loose and to diversify your investment.

GabrielPontello

jr. member

Activity: 63

Merit: 1

It is good that you repeat this advise to newbies who cannot understand how dangerous it can be to invest in crypto. EVERY TIME that ANYONE is making an investment in crypto they should first ask themselves: CAN I AFFORD TO LOSE THIS SUM IF SOMETHING GOES WRONG?
If the answer is no, don't do that.

cryptoscion

newbie

Activity: 27

Merit: 0

Your advise is appreciable because never invest our all money in bitcoin or other crypto over hope gives u difficulties. we are investing on that platform where we are not sure that will give us profit or loss so don't do this, invest that money which we can afford when we loose because profit depend on right time market entry and exit.

okakaynam

newbie

Activity: 67

Merit: 0

You have a point investing all of money in crypto currency is a big risk that you will putting your money in a not sure platform of investment wheather it will gain profit or it will loss but the main reason is if the people who investing in crypto currency have knowledge of how crypto currency works because some people are just investing their money without a knowledge of what totally bitcoin is thats why they lost their money investing to it. So I prefer to all of investors in crypto currency to gain more knowledge about it before putting their money to crypto.

stefy77

full member

Activity: 658

Merit: 105

As in all best practices it is advisable to diversify with any type of investment. So even with bitcoins and alt.

solkinsolali

member

Activity: 154

Merit: 17

I have read several posts on this forum where people have claimed to have invested all the money they have on Bitcoin, I also read a post where a guy claimed to have used all the $20,000 his uncle gave him to also invest in Bitcoin, some even sold their landed property. The reason for these risks and others is the firm believe that Bitcoin would be $50,000 - $100,000 by the year 2019 or thereabout.

First, I must say that I admire the courage and high risk appetite of such persons. But, I must also warn.
Yes, It is good for everyone to have high hopes for Bitcoin, and also hope it gets to 100k USD in future, but you should also consider a safety factor in anything you do including investing.

Mathematically,

DO NOT Assume,
P(Success of future term) = 1 ; and
P(Failure of future term) = 0

This implies that, you must always leave a little fraction for probability of failure which in this case is the safety factor, no matter how little the fraction may be. Simply put, you don't have absolute control of what happens to Bitcoin and Cryptocurrencies in the future.

Invest wisely, only invest what you can afford to loose

Just a piece of advice.

What are your own suggestions?

Topic: NO! Do Not Invest all you have on Bitcoin and Cryptocurrencies - page 33. (Read 3884 times)