Topic: This family bet it all on Bitcoin (Read 2883 times)

Great video. totally agree with that guy. Go all in when you find that sure thing investment. That's what bitcoin is and that's what I've done and that's what that family did.

I think they're too crazy. They'll lose everything if Bitcoin price stay stable for years. LOL. But lucky for them, Bitcoin price has increased very quickly until now and it'll keep increasing till the end of this year. For now I think they've sold almost of their Bitcoin to buy a new house.

It panned out. I still think they were incredibly dumb to do it.

Throw savings by all means. Depriving your family of stability is no good.

Trading is good for your future .You should inverse the unwanted money in trading,this only make you succeed in trading.If you spend the traded bitcoin for money sake.It will make you fool.Since the bitcoin price crossing many miles,you have to wait to sell the holding bitcoin.Holding  is the needed one after trading.

If you think you can trade and do better than just long term holding, you will get rekt.

When i first saw the article about that family I was thinking they are geniuses! There was no doubt Bitcoin will keep going up so hey they went all in to set themselves up for life. Obviously it is paying off tremendously so soon after they did it. Congrats to them. So many people are scared of Bitcoin's price rise but the smart people know to throw everything you've got into it and reap the incredible rewards.

I took out a loan in late October to buy Bitcoin because I had already spent all my money the past 6 months on Bitcoin and wouldn't be able to afford buying anymore at this point. Tried to convince my brother to take out a loan as well since he has much less Bitcoin than I do, but he kept saying he'd think about it and kept not doing it. Now less than a month and a half later I've more than doubled my loan already and I expect it'll end up making me hundreds of thousands of dollars in the next few years.

When you see the investment opportunity of a lifetime there's no room for being afraid. You just gotta jump in with everything you got and enjoy the ride! I'm always baffled by the people who fear getting into bitcoin, and every time the price rises they once again comfort themselves by saying "oh well now it really IS too late" and it just keeps going and they miss out on the financial opportunity of their lives!

Haha! This was exactly how my emotions were after reading this post and the attached report of this family. They have just kept this all aside while they could have done it in a better way. Many of the people might think that they will gain a lot of profit but in my opinion they have a chance of greater profit which this family is losing if they don't change their decision. They are losing the profit on the traditing and what they are holding today maybe become double in number in future and they will start living a better life if they start trading.

Yep. Watch this video! Best advice ever.

http://www.businessinsider.com/millionaire-mistakes-grant-cardone-student-debt-saving-investing-2016-8

And they've now made it big. Believe in something and go all in! All or nothing!

They are crazy no matter how you look at it, I believe that bitcoin is the future, but I'm not going to risk my entire life savings on that, I have some money invested on bitcoin and if bitcoin reaches its full potential I'm going to earn a lot of money, but risking everything is a huge mistake, what if bitcoin is banned or if bitcoin is replaced by a new crypto then they are going to lose all their money, efforts and time.

Oh no, this is not a good move price is already high and we don’t know if it goes more high or dropped down why they sold they could’ve buy bitcoins from there salary but this was not a good move at all maybe they will not be able to buy it again. Its a great risk to put all the money in bitcoins but i guess they have a very firm trust in bitcoins.

Not only that even if bitcoin skyrocketed to 100k it does not matter if bitcoin at first crashes and then they need to cash out to pay their bills, you need to be in bitcoin when that price is reached which is why most of us are holding in the first place, this is why it is important to have some fiat in hand that way you do not have to touch your bitcoin in case something goes wrong.

$10,000 is only a small target for the growth of Bitcoin in future.
Bitcoin can reaches this target as long as the cryptocurrency market still keep the bullish trending in next few years.
However, be careful the bubble of cryptocurrency, nothing guarantees this bubble will not burst someday.

Respect! Try to live with these rules too.

I can respect their decision. They seem to be aware of the risks and they know life is not about what you own and how much money and things you have. Having lived a minimalist lifestyle for 15 years myself I know that life can be beautiful and rich without having much money or possessions. I think it's a valuable life lesson, and personally now that I actually have money I still don't care about material stuff. I don't even own a car, and I don't see any reason to have one even now. Life is in what you make it and what you want out of it, and that can be very different for each person. I want to see a better world come of this, and just seeing that process evolve is already giving me plenty of satisfaction in life.

I don judge their decisions despite all given facts. Prices can stay over 10000$ level for a long time or it can hit low levels like 5000$ if there is bad news for cryptocurrency community. Let's wait and see who is smart and who is not.

I don't know what should i call them crazy because there is high uncertainty in the market of cryptos or should i call them smart because no doubt crypto will rule in future. This extreme level of trust is seriously amazing, either they will going to create a history after winning or they will going to be a part of history after loosing everything.

It's not the best thing to do if you have limited resources and assets. I'm a bitcoin believer but I don't have the guts to try this thing out. I bet this family has intense belief to bitcoin but I'm not on that stage. We do know that we're about to see bitcoin fly to the moon but still this is a risky thing betting on bitcoin all what you got. I can only sell 1/4 - 1/2 of my total assets but I can't move on to 100%.

wow that is surely the best thing to do if we have any cash or non usable assets we should also sell it off and go all in bitcoin i feel it can rise more in the upcoming months. it also has a steady price which is what makes it more profitable