Topic: Who's brave/stupid enough to invest their life savings into Bitcoin? - page 18. (Read 33506 times)

I think the price decline is mainly due to leverage on bitfinex. There have even been a number of news articles about this.

In regards to the trolls they are only coming out because the price is declining semi-sharply. It is similar to how all the "pumpers" will say "to the moon" whenever bitcoin rises significantly.

Do you think it's their life savings they're investing? I highly doubt it. And with their kind of money they can afford to risk amounts that are astronomical to most of us.

Bitcoin behaves like something in between a fiat currency, a stock, and a commodity. So it's clearly investible. I recommend to everyone I know to invest at least 1% of their net worth into bitcoin and other digital currencies.

However, it's super risky, and there's no way that investing your life savings into bitcoin now or at any time in the past was a wise financial decision, UNLESS, you have/had very little money to begin with.

Why is this? Well, I come from a poker background and common poker wisdom and logic suggest that a poker player with a very small bankroll SHOULD risk it all. This is because they can easily replace their bankroll and get back into the action at the same stakes. Conversely, a player with a large bankroll must be way more conservative (and apply the Kelly Criterion or other methods of managing risk), because if they lose a significant percentage of their bankroll it will take them a long time to get it back, and they'll be foregoing earning potential in the meantime.

e.g.

Investor A earns $50,000/yr and has $1,000 in savings to invest. Well, he can just throw it all into any investment he thinks is a good bet. If he loses, all he has to do is work for a week or so and recoup his lost $1,000.

Investor B has a net worth of $10,000,000 and is a professional investor who's been earning 10% on his portfolio for 10yrs. For this guy to bet it all on bitcoin would be ludicrous, because he'd be risking the chance to keep earning $1,000,000 per year, and he'd be needlessly accepting a small chance that he goes completely bust (risk of ruin).

Scared money don't make no money

Ive yolo'ed at Bitcoin a few times haha

See what I did there? It's called soft sell.

Couple that with some alt-coins with good potential ... but that's more gambling if you buy into any new coin.

Now you're sounding like a used car salesman. Bitcoin sells itself. Look at the charts. Anyone can see what's going on here. Look at how many trolls are coming out from under their rocks. There is nothing but good news. Folks are selling because they can't spend bitcoins on their vacations yet. Their loss is our gain. Next year my vacation is on them.

Bitcoin @ under $500 means its the PERFECT time to buy!

Always keep your mind on the big picture, never the small (short term) one.

It's like slow motion dice. That's how I see it.

It's taking me several weeks to secure this loan. I've had earlier ones, but I re-lent those out to another company, and they have been paying my amortizations every month, so at least I have good credit.

You know what even though I don't think it is the best idea to take on a loan for BTC.  I can't help but feel this is the best form of gambling.  I'd almost like to take a small loan and see what happens as an experiment.  A story like that could be very news worthy in the future if Bitcoins takes off.

God you guys are ballsy!  I really really hope it pans out okay and you don't end up on the street begging for money:(

Its a heck of a gamble hopefully it pays off for you!

No guts no glory. Fiat loan incoming any time now. hahahahahahaah.... bitcoin price dropping .... will have to seriously think this when the fiat is in my hands. (I can always return all the money or lend it to someone else.)

That's some commitment you are making you must really believe in Bitcoin to do that I would like to do this some day but probably sell my house via Bitcoin.

I'd seriously doubt that Bitcoin will ever die with this much power behind it. It's still in beta, but to me it might as well be version 1,000 like FireFox is trying to work up to. It has it's flaws, but the development team is working to fix every last one of them and that's what counts. If tomorrow the value of a Bitcoin was $1, I could still see tons of people investing and driving the price up to at least $300. At this point it just seems too difficult to kill Bitcoin.

So, to answer your question, yes I would dump my savings into Bitcoin and i think a lot of us would.

I'm selling my house Monday and am going to at least buy back the coins I spent when it was much higher.

If I had a significant amount of fiat, then I would have no problem with putting at least 50% into BTC. 
100% would not be wise.

No way in hell. But I can consider itself more as a part-time action rather than putting my life savings into it.

FIAT system crash before bitcoin ... and why bitcoin crash ?
FIAT system is "by the hell" more weak than the bitcoin system.

That why, from 6 months, i only hold money in BTC.

That's a lot of eggs in one basket...I really hope it doesn't crash for your sake!