Serious question about Bitcoin. Is it a reliable and stable investment? - page 6.

jakelyson

legendary

Activity: 2240

Merit: 1069

Quote from: monalia on July 08, 2019, 03:14:23 PM

snip
If you do your own analysis you can personally take the decision on your own investment

Not everyone is financially literate. Even if you do your own analysis, making large investments have lots of pitfalls. 100K is already a large sum of money and I already have seen so many wasting money to investments because of unwise decisions. Financial advisers can help you in that aspect.

Quote from: monalia on July 08, 2019, 03:14:23 PM

You never need to hire any advisor for crypto investment. There are plenty of scammers in this forum as well as outside their to scam you so don't be the victim on hiring someone.
Hope you can understand what I am saying.

OP does not intend to push crypto-investment to his friend's parents anymore because of the risk. They will hire a portfolio manager which is a wise choice. And investment is not limited to crypto and no one will take any investment advice from this forum seriously.

ene1980

hero member

Activity: 2002

Merit: 535

Quote from: isamu on July 08, 2019, 03:46:42 AM

I mentioned to them that bitcoin is a possible alternative and one they can look into. Do you agree? Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)? Is it safe to assume the only direction(barring a few dips here and there) bitcoin will eventually go from here is up? Do you foresee it going below $10K, or even $9K ever again? Is it even possible to see the lows we saw a few months ago(ie $3500) ever again?

I will never advice anyone to invest into bitcoin if they are not interested in the market, if they are willing to learn about the market and can do everything on their own then it is a good thing, if not never advice anyone as they could sell the coins when they see a deep correction and then put the entire blame on you for their loss because of their foolishness as i have my experience advising others.
Bitcoin is not a stable market but in the long run the price will reach new levels but you can expect a correction anytime and hence there is no guarantee that the price wont go below $9k.

Pyr3x

full member

Activity: 602

Merit: 100

I think that everyone should be responsible for their own lives, including their own money. You can not rely only on the advice of other people, you need to think with your own head. My advice is to study the information about bitcoin and make a decision about investments on your own

izanagi narukami

legendary

Activity: 2030

Merit: 1028

The greater the interest , the more risk they must face if we talk about investment.
Yes, bitcoin can yield profit more than IRA but remember the risk
IRA can provide you some profit ( usually stable and government also support )

So it's depend on their decision

Herbet Fry

sr. member

Activity: 812

Merit: 253

●Social Crypto Trading●

You know.... A better idea would be this.

Hopefully you have a decent amount to invest so it turns enough profit for you.

There many companies that have been around for years and years even older then us. They offer anywhere between 8-12% per year. They make no promises but historically speaking this is accurate. (never trust and investment that makes you promises)

For convience, we will say you open an investment of 100k with 12% APR so it is 1% per month

Take that 1k each month and invest it into altcoins you believe in and funnel those through into bitcoin. Hopefully, you make a good turn over and get some crypto in your prort folio while taking a small risk investing with money you already got just for investing your fiat. You will always have the 100k as well.

Herbert2020

legendary

Activity: 1946

Merit: 1137

Quote from: subSTRATA on July 09, 2019, 07:06:02 AM

Quote from: killat on July 09, 2019, 02:01:55 AM

My tactic: keep buying small amounts of btc, this way you buy at low and high dollar/btc rates.

Eventually it will be worth much more.. my guess.

that's the sentiment most die hard bitcoin believers have. It's definitely paid off in the last few years for people with this mindset.

"die hard bitcoin believers" is a meaningless term in my opinion.
logically speaking you analyze bitcoin and see its potential, if you did then you start investing in it. but most people don't have a large sum of money lying around that they could dump into bitcoin! so they have to slowly buy bitcoin each week/month as they are left with a little bit of money after expenses. that means buying little by little and since you already know the long term potential buying at $3k then $4k then $10k isn't really a problem since you plan to hold long term and when it reaches something like $100k it wouldn't matter anyways.

NathanJB

sr. member

Activity: 756

Merit: 251

Stable, nope. Reliable, yes. It is not stable because its value is always fluctuating. It is up today and down tomorrow, or even up this hour and down the next. So stability is something you should not be looking for in Bitcoin. It is reliable because its value is generally appreciating no matter the rise and fall on an hourly and daily basis.

Vaskiy

legendary

Activity: 2646

Merit: 1106

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

That's good to know about your friends parents not getting satisfied about the investment plans. No investment provides with such an increased profiting same as bitcoin as well other cryptocurrencies. Another important thing, bitcoin serves as a good investment for people who are long term focused.

None can assure for short term or long term assured profit. Invest and the rest happens with the market, we need to make use of the opportunity.

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

The gist I'm getting from the OP's people is that they'll be the very first to sell in a panic and spend the rest of their life cursing BTC. The idea of it being a viable route for your nice retirement funds is plain stupid.

You need to go into it with your eyes and your legs wide open. Anything could happen. They sound like the type of person who shouldn't be putting any more than 1-5% of their originally planned amount in. Even then that might break their spirit.

People get awfully funny about money and us lot are so far gone we're the worst to ask about Bitcoin's prospects.

subSTRATA

legendary

Activity: 1288

Merit: 1043

:^)

Quote from: killat on July 09, 2019, 02:01:55 AM

My tactic: keep buying small amounts of btc, this way you buy at low and high dollar/btc rates.

Eventually it will be worth much more.. my guess.

that's the sentiment most die hard bitcoin believers have. It's definitely paid off in the last few years for people with this mindset.

Quote from: figmentofmyass on July 09, 2019, 04:33:30 AM

i would say the prospects are good. personally, i'm betting the price will be much higher in 5-10 years.

nothing is set in stone though. it would surprise me a lot, but bitcoin could still return to a bear market from here to sub-$3k levels. the odds are low considering the momentum and gains of this rally, but it's possible. keep that in mind when investing with retirement money. usually people put those funds into very conservative investments, not assets that could possible halve in value over the next month.

this exact this has happened in the last few years, and it can definitely happen again. however, my personal belief is that with cryptocurrencies taking offthe way it is now, I don't believe any significant crash is likely without some major event setting it off. likewise, I think the price is starting to stabilize quite a bit, and without some major stimulus, I don't see the price rising in any significant way anytime soon.

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

Quote from: figmentofmyass on July 09, 2019, 04:33:30 AM

Quote from: isamu on July 08, 2019, 03:46:42 AM

Hi guys. I have a friend who's parents are looking for alternatives and want to invest money into something other than their IRA account. They have a fixed IRA with about $100K, but they are unsatisfied with the miserable amount of interest they're getting. I mentioned to them that bitcoin is a possible alternative and one they can look into. Do you agree? Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)?

i would say the prospects are good. personally, i'm betting the price will be much higher in 5-10 years.

nothing is set in stone though. it would surprise me a lot, but bitcoin could still return to a bear market from here to sub-$3k levels. the odds are low considering the momentum and gains of this rally, but it's possible. keep that in mind when investing with retirement money. usually people put those funds into very conservative investments, not assets that could possible halve in value over the next month.

in my experience in bitcoin market when a trend changes for good, there is no way to change it back no matter what happens. for example in 2018 when we entered the bear market as the year began there was no way anything could change it at all. and similarly right now that we have entered the bull market and have already risen more than 250% in the past 6 months there is no way to change that trend. so I would say with confidence that there is no way bitcoin could enter bear market and drop anywhere near $3k!

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: isamu on July 08, 2019, 03:46:42 AM

Hi guys. I have a friend who's parents are looking for alternatives and want to invest money into something other than their IRA account. They have a fixed IRA with about $100K, but they are unsatisfied with the miserable amount of interest they're getting. I mentioned to them that bitcoin is a possible alternative and one they can look into. Do you agree? Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)?

i would say the prospects are good. personally, i'm betting the price will be much higher in 5-10 years.

nothing is set in stone though. it would surprise me a lot, but bitcoin could still return to a bear market from here to sub-$3k levels. the odds are low considering the momentum and gains of this rally, but it's possible. keep that in mind when investing with retirement money. usually people put those funds into very conservative investments, not assets that could possible halve in value over the next month.

kennen1113

jr. member

Activity: 224

Merit: 3

Quote from: bering on July 09, 2019, 02:50:08 AM

Bitcoin is risky investment but decent to be considering as future investment because the development of bitcoin still possible to increase in the future and for long term purpose i think bitcoin is good option and regarding the price i think people cannot provide the exact answers at what range bitcoin will be hitting but i'm sure for next few years bitcoin price will be more expensive than the current price

As you said, even though people always consider bitcoin as an investment that can become developed in the future but they still don't deny the risks in bitcoin, so there is no reason for you to be sure that bitcoin will become more expensive in the future, accurate predictions about the future are impossible. And facing this topic, bitcoin is probably not a reliable and stable investment with the risks it has but people are not too concerned when this is still a trend, it can still maintain for a while, benefits are still too big and enough for people to accept the danger to invest

bering

legendary

Activity: 2898

Merit: 1006

Leading Crypto Sports Betting & Casino Platform

Bitcoin is risky investment but decent to be considering as future investment because the development of bitcoin still possible to increase in the future and for long term purpose i think bitcoin is good option and regarding the price i think people cannot provide the exact answers at what range bitcoin will be hitting but i'm sure for next few years bitcoin price will be more expensive than the current price

killat

member

Activity: 742

Merit: 21

Be the reason someone smiles today

My tactic: keep buying small amounts of btc, this way you buy at low and high dollar/btc rates.

Eventually it will be worth much more.. my guess.

proTECH77

member

Activity: 1120

Merit: 30

Bisq Market Day - March 20th 2023

Will start by saying that; Bitcoin is an investment and not a stable type of investment like the stable coins or the Fiat type. Investment in Bitcoin is a total risk and if an investor can take the risk, it's always pay off at the end, as a testifier, I had made some reasonable profits from my investment into Bitcoin, this investment is reliable on a long term and not on Short term.

Kakmakr

legendary

Activity: 3514

Merit: 1963

Leading Crypto Sports Betting & Casino Platform

Bitcoin is very volatile and unpredictable and also a high risk investment, because it is still experimental. In spite of all these negative aspects, I still think people can still make lots of profit, if they manage the risk. A lot of people says Bitcoin is a long-term investment, but I beg to differ, because you have to profit in the short term on the volatility, if you want a risk free investment.

I did this when Bitcoin reached it's ATH of $18 000+ in 2017 and I quadrupled my in investment capital and just sold enough coins to get my initial investment capital back. Wink

(That profit is equal to 8 years of the highest interest that I would have received from a fixed deposit on a savings account) Grin

b3llsf1l3s

member

Activity: 616

Merit: 12

Send&Receive Money Instantly, w/ no hidden costs

Quote from: isamu on July 08, 2019, 03:46:42 AM

Hi guys. I have a friend who's parents are looking for alternatives and want to invest money into something other than their IRA account. They have a fixed IRA with about $100K, but they are unsatisfied with the miserable amount of interest they're getting. I mentioned to them that bitcoin is a possible alternative and one they can look into. Do you agree? Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)? Is it safe to assume the only direction(barring a few dips here and there) bitcoin will eventually go from here is up? Do you foresee it going below $10K, or even $9K ever again? Is it even possible to see the lows we saw a few months ago(ie $3500) ever again?

Please give me your thoughts. IRA or Bitcoin for the long term?

If you ask for this right here, of course the majority will answer Bitcoin above from the IRA. Bitcoin I don't think it will and it won't be a stable currency.

Is it reliable? My opinion is that was in the middle between yes and no.

Artemis3

legendary

Activity: 2030

Merit: 1568

CLEAN non GPL infringing code made in Rust lang

Quote from: isamu on July 08, 2019, 03:46:42 AM

Hi guys. I have a friend who's parents are looking for alternatives and want to invest money into something other than their IRA account. They have a fixed IRA with about $100K, but they are unsatisfied with the miserable amount of interest they're getting. I mentioned to them that bitcoin is a possible alternative and one they can look into. Do you agree? Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)? Is it safe to assume the only direction(barring a few dips here and there) bitcoin will eventually go from here is up? Do you foresee it going below $10K, or even $9K ever again? Is it even possible to see the lows we saw a few months ago(ie $3500) ever again?

Please give me your thoughts. IRA or Bitcoin for the long term?

How about both? Ever heard the phrase, "Don't put all your eggs in the same basket"? I'm sure in the long run bitcoin is better, but still you have to take rational action, not emotional.

And, bitcoin can be lent for even further profit. But always diversify your investing portfolio. Some people don't have discipline, if you invest in bitcoin now at 12k and it falls back to 6k, you have to wait, however long it takes, to return back to 12k. That can be months, years or decades.

So as long as you explain them clearly what they are getting into, and that the invested money might not be available when they want it, then sure.

funchiestz

sr. member

Activity: 1134

Merit: 342

Quote from: isamu on July 08, 2019, 03:46:42 AM

Hi guys. I have a friend who's parents are looking for alternatives and want to invest money into something other than their IRA account. They have a fixed IRA with about $100K, but they are unsatisfied with the miserable amount of interest they're getting. I mentioned to them that bitcoin is a possible alternative and one they can look into. Do you agree? Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)? Is it safe to assume the only direction(barring a few dips here and there) bitcoin will eventually go from here is up? Do you foresee it going below $10K, or even $9K ever again? Is it even possible to see the lows we saw a few months ago(ie $3500) ever again?

Please give me your thoughts. IRA or Bitcoin for the long term?

If you ( or they) looking for reliable investment, Bitcoin would be the greatest choice for the long term. I think Bitcoin is the most potential way of earning money now. But you're looking or stability at the same time. Sorry Bitcoin investment doesn't offer this to you. You may look at Bitcoin/USDT price charts. Its price constantly goes up&down.

Topic: Serious question about Bitcoin. Is it a reliable and stable investment? - page 6. (Read 1440 times)