I would say don't put all your eggs in one basket!!
It is good to have a portion of your fiat into crypto, but not all of it..
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Topic: SELL ALL YOUR FIAT AND LIVE 100% CRYPTO!!!! - page 10. (Read 2499 times)
I would never do it as I´m perfectly comfortable with having like 20% of my savings in crypto. For me it´s just great risk and if you have family with children, it is quite irresponsible
I dare not, because the risk of cryptocurrency market is very high.
The risk is proportional to the benefit, so most of the time I just invest my spare cash.
The risk is proportional to the benefit, so most of the time I just invest my spare cash.
I am sure that such an act is very risky, but it has a chance of success. And in case of a positive result, your capital can grow tens of times.
It is insane. If you sell all of your fiat to get the cryptocurrency, and the market will fall, you will have no funds to survive even. yes, you can invest up to 30% in crypto but do not ever refuse from traditional money.
Well, why so? I think that people should invest only the money they are really ready to lose, today this is the principle of investing, because there is a lot of risk today in the crypto-currency segment. And if people sell everything in favor of the cryptvalut, they can stay without anything.
It's never worth investing all your money in crypto, it's a big risk and a great chance to consume all your money, especially if you're new! First of all it is necessary to understand all the nuances and make an informed decision!
Totally agree with you, because many lose their money! You do not have to invest money that is not ready to lose, because crypto currency is a very big risk. As a rule, only 10% of traders earn on the market. A while ago (2017) there was this Dutch family that sold all their assets for BTC and is now traveling around the world. He had around 500k USD worth of BTC and expects it will at least make 5x in the next 3 years. In the meanwhile, they are living modestly and using 20% of their cryptos to trade.
Would you dare to do the same? Sell all your FIAT for CRYPTO?
I would love to stop using fiat and just pay for everything with cryptocurrency, but the truth is we can't, we can't 100% get rid of fiat, because fiat is what is used by 99% of the world's population and the 1% of the people who use cryptocurrency can't really on it because there are not that many places that actually accept them, cryptocurrency is still not yet accepted by restaurants, supermarkets, hospitals, and all the main thing we need in our daily lives, so until it is accepted by every place in the world we are stuck with using fiat. Would you dare to do the same? Sell all your FIAT for CRYPTO?
I do admire people who took such a big risk to sell all assets for cryptoz
However, I am not ready to sell my assets for crypto yet. I have commitments for my parents and family. I guess I have to continue working for fiat money atm.
However, I am not ready to sell my assets for crypto yet. I have commitments for my parents and family. I guess I have to continue working for fiat money atm.
It's never worth investing all your money in crypto, it's a big risk and a great chance to consume all your money, especially if you're new! First of all it is necessary to understand all the nuances and make an informed decision!
This is all purely individual. Many people hold on to the fact that they have (property, bank accounts), they are afraid of losing everything. This is because many do not believe in crypto currency as a means of earning and saving their money.
Therefore, everyone chooses his own way. Risking, selling property and taking your money from bank accounts to invest in crypto currency. Or hold on to what you have ....
Therefore, everyone chooses his own way. Risking, selling property and taking your money from bank accounts to invest in crypto currency. Or hold on to what you have ....
this is a very risky step, it takes a lot of courage, they are very lucky. I would not have been able to do this, since my family will be totally against me.
Yeah, they are just pretty much lucky because any risk that is way beyond normal reasoning and the person getting the best from it is pretty much just luck as it could have been the other way round. I am not sure I can actually do something like this as well as that was way too off the hook and it only takes someone with so much gut and a don't care attitude to pull this off.He actually said it back then, that he believes this is the future and even if anything happens, the worst is that he will have to start over, but a risk he is willing to take. It paid him off though.
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Would you dare to do the same? Sell all your FIAT for CRYPTO?
I exchanged all my USD Tether holdings from the profits of past trades to various crypto assets. Thats all my risks at the moment. It is amount that can be lost without hurtful, that allows me get psychological comfort.
A while ago (2017) there was this Dutch family that sold all their assets for BTC and is now traveling around the world. He had around 500k USD worth of BTC and expects it will at least make 5x in the next 3 years. In the meanwhile, they are living modestly and using 20% of their cryptos to trade.
Would you dare to do the same? Sell all your FIAT for CRYPTO?
For me, it is not a wise decision to invest your money in a bucket. A wise investor always divide his investment into different parts. That's why portfolio is invented for us to have different coins. We can invest in bitcoin but we should also left a savings and investment in our real life. Atleast, if there is an emergency and BTC will fall down, we have assurance we have money to be withdrawn.Would you dare to do the same? Sell all your FIAT for CRYPTO?
The fact that he has even decided to use 20% of that to trade is enough for anyone to do pretty well and live well in the short term. Going with all-in is not at all recommended by any experts as it is a deviation of perfect trading plans. Not only with our capital money but with our savings too, we must follow the basics of diversification principles.
I am sure that such an act is very risky, but it has a chance of success. And in case of a positive result, your capital can grow tens of times.
Yeah, it is obviously a very risky thing to do and it takes a lot of balls for anyone to ever be able to do so, but I believe this guy is living very fine now as that would have been a risky thing worth it eventually based on when this story went round the net. However, in the real sense, it is basically an insane thing to do that could have ended up backfiring for him, so I would rather say he just got fortunate and anyone trying to copy him may not just be that fortunate. 
I dont think I can do that. First of all there is too much at stake and the risk is very high. If crypto market drops, all your money and assests will go down with it, but if the market soar high, so as your money. So its a 50-50 chance and I cant take that chance involving all my assets. Maybe I'll just put some portion of my assets into crypto but not all of it.
I can bet that mostly everyone will not do that. That was a high level of risk for anyone to take and when I saw this news back then, a lot of people said so many things on how stupid this guy must have been for taking such a risk at the detriment of his family. These guy practically sold everything, rented an apartment, started trading some part of it, and I guess it is paying well for him obviously now, considering the time this happened but like you said, that was more like a 50-50 chance which can be classified as a gamble, and too much risk to take in at once. 
Wrong approach to money! Never keep all your money in one basket! You can not say that one thing 100 percent is good, but other thing 100 percent is bad.
You always take risks. You should always remember that you need to invest money, only those that you are not afraid to lose.
You always take risks. You should always remember that you need to invest money, only those that you are not afraid to lose.
In 2014, one person tried to sell his house for 877.5 bitcoins (or $ 8,599,500 in today's prices). The article also says that so far, no houses have been sold for the bitcoins.
In the United Kingdom you can buy and sell houses with bitcoin, some realtors have expressed some serious interest in it.
I just quickly skimmed the article I read about it, but there seemed to be some nice tax advantages if you buy a house with bitcoin.
In 2014, one person tried to sell his house for 877.5 bitcoins (or $ 8,599,500 in today's prices). The article also says that so far, no houses have been sold for the bitcoins.
Although it does sound ideal in theory, I don't think it would be the safest choice in reality. What if something happens one day and the whole crypto market collapses and his coins are worthless or lost? It's not wise not to have any assets. If he losses his cryptocurrencies he will have nothing. No job, no fiat money, no social insurance contribution to assure a pension for his future. I don't think anyone can live completely independent from the centralized system.
Looking at the risk of cryptocurrency I dare not to divert all fiat money into bitcoin. I am not ready to lose so much that there is still a possibility to double the fiat money with bitcoin. I always think the worst outcome when doing an investment, and the worst result should be prepared both mentally and materially.
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