Topic: Who's brave/stupid enough to invest their life savings into Bitcoin? - page 21. (Read 33506 times)
August 02, 2014, 09:00:47 AM
never take the risk you can't afford to lose
August 02, 2014, 08:54:29 AM
Well, leaving your wallet in the cloud isnt much different that leaving it out in the street, and certainly removes any anonymity, but I think I might actually prefer that to an unencrypted cold wallet (which can be lost or stolen).
If the wallet is unencrypted, its the same as physical cash or gold, but without the instant fungibility. Armory is certainly one of the better solutions around. Common sense is another.
If the wallet is unencrypted, its the same as physical cash or gold, but without the instant fungibility. Armory is certainly one of the better solutions around. Common sense is another.
How leaving your wallet in the cloud removes anonymity? Nobody can reach for it there except me, and even if a hacker manages to bypass my 2FA Google authentication, he can not do absolutely anything with my wallet since it is encrypted. I may as well leave it in the street and it would be perfectly safe, but I'm not placing it in the public cloud just for anonymity reasons. Using Armory would bring me 0 benefits security wise.
August 02, 2014, 08:50:17 AM
It's better to encrypt your single wallet to prevent anyone from using it if he gets his hands on it, and than backup it in several places, including the cloud. My preferred backup is to email it to myself. Google will keep it safe forever, and it's easy to periodically email it again if you exceed the limit of unused keys, which will force the wallet to generate the new keys.
This post gave me cancer.Please just start using Armory. It's better in every way than what you're doing.
I don't have any intention using inferior solutions. Reference implementation (Bitcoin-QT) kicks ass, why would anyone use interpreted language based wallet, if he has C/C++ based one? You can use anything you like, but calling Bitcoin-QT "cancer" is giving yourself too many liberties.
August 02, 2014, 07:32:32 AM
For those in here who have expressed their faith in the US Dollar and banking institutions, and feel comfortable with their life savings being a number on a computer screen, please watch this:
https://www.youtube.com/watch?v=iFDe5kUUyT0
The presentation is aimed at a general audience (i.e. people who dont know about fractional reserve lending) and seems to go for shock and awe value, but everything presented is factual and clearly explained.
https://www.youtube.com/watch?v=iFDe5kUUyT0
The presentation is aimed at a general audience (i.e. people who dont know about fractional reserve lending) and seems to go for shock and awe value, but everything presented is factual and clearly explained.
We are likely to see markets fall nominally or most probably run away inflation
August 01, 2014, 08:00:44 PM
Reading a story from a few years ago where someone invested all their life savings into Bitcoin and started to live off Bitcoin. that guy was a lucky guy as now the price as more than tripled to when he invested in it. Anyone else brave enough to do this?
yes I know if my first bitcoin and I definitely got a lot of capital brave enough
I may now also quite brave, because bitcoin is worldwide, although there are many pros and cons
bitcoin future hopefully be the largest investment that many fields in the interest of people
August 01, 2014, 07:33:36 PM
For those in here who have expressed their faith in the US Dollar and banking institutions, and feel comfortable with their life savings being a number on a computer screen, please watch this:
https://www.youtube.com/watch?v=iFDe5kUUyT0
The presentation is aimed at a general audience (i.e. people who dont know about fractional reserve lending) and seems to go for shock and awe value, but everything presented is factual and clearly explained.
https://www.youtube.com/watch?v=iFDe5kUUyT0
The presentation is aimed at a general audience (i.e. people who dont know about fractional reserve lending) and seems to go for shock and awe value, but everything presented is factual and clearly explained.
August 01, 2014, 07:25:43 PM
It's better to encrypt your single wallet to prevent anyone from using it if he gets his hands on it, and than backup it in several places, including the cloud. My preferred backup is to email it to myself. Google will keep it safe forever, and it's easy to periodically email it again if you exceed the limit of unused keys, which will force the wallet to generate the new keys.
This post gave me cancer.Please just start using Armory. It's better in every way than what you're doing.
Well, leaving your wallet in the cloud isnt much different that leaving it out in the street, and certainly removes any anonymity, but I think I might actually prefer that to an unencrypted cold wallet (which can be lost or stolen).
If the wallet is unencrypted, its the same as physical cash or gold, but without the instant fungibility. Armory is certainly one of the better solutions around. Common sense is another.
August 01, 2014, 07:21:09 PM
It's better to encrypt your single wallet to prevent anyone from using it if he gets his hands on it, and than backup it in several places, including the cloud. My preferred backup is to email it to myself. Google will keep it safe forever, and it's easy to periodically email it again if you exceed the limit of unused keys, which will force the wallet to generate the new keys.
This post gave me cancer.Please just start using Armory. It's better in every way than what you're doing.
August 01, 2014, 06:33:54 PM
It's better to encrypt your single wallet to prevent anyone from using it if he gets his hands on it, and than backup it in several places, including the cloud. My preferred backup is to email it to myself. Google will keep it safe forever, and it's easy to periodically email it again if you exceed the limit of unused keys, which will force the wallet to generate the new keys.
This post gave me cancer.Please just start using Armory. It's better in every way than what you're doing.
August 01, 2014, 05:59:52 PM
Well if I had life savings I WOULD have invested a lot into it right now, but as it stands I am trying to use my BTC wallet as my bank. Keep all of my money in BTC and either use BTC to buy my stuff or transfer it to my bank account and withdraw is instantly.
If you are keeping ALL your money in BTC, I hope you are spreading it out amongst several wallets. You don't want all your money to be gone if something bad were to happen...
It's harder to secure several wallets than one. It's better to encrypt your single wallet to prevent anyone from using it if he gets his hands on it, and than backup it in several places, including the cloud. My preferred backup is to email it to myself. Google will keep it safe forever, and it's easy to periodically email it again if you exceed the limit of unused keys, which will force the wallet to generate the new keys.
August 01, 2014, 05:40:11 PM
Well if I had life savings I WOULD have invested a lot into it right now, but as it stands I am trying to use my BTC wallet as my bank. Keep all of my money in BTC and either use BTC to buy my stuff or transfer it to my bank account and withdraw is instantly.
If you are keeping ALL your money in BTC, I hope you are spreading it out amongst several wallets. You don't want all your money to be gone if something bad were to happen...
August 01, 2014, 05:28:22 PM
Ive got about 75% in BTC, the rest in gold and silver and a little bit of cash for emergencies. From now on, ever extra bit of money i have gets converted to BTC and put away in a wallet. Accumulating. BTC is my savings from now on.
That is extreme but it will give great results once Bitcoin and Gold reach their potential
July 30, 2014, 10:21:50 PM
I just invested $400,000 into Bitcoin
proof: 1DDWEQM11uMUKiqpGEWvBT2at3CjCw3Vra
Hahahahahaha CLOWNproof: 1DDWEQM11uMUKiqpGEWvBT2at3CjCw3Vra
That's the bitlaunder payout address you scammy piece of trash.
I invested $400,000 in bitcoin. I'm a little boy. I steal cause I can't succeed if it's legit!
July 30, 2014, 08:45:39 AM
Well if I had life savings I WOULD have invested a lot into it right now, but as it stands I am trying to use my BTC wallet as my bank. Keep all of my money in BTC and either use BTC to buy my stuff or transfer it to my bank account and withdraw is instantly.
July 30, 2014, 07:24:42 AM
Ive got about 75% in BTC, the rest in gold and silver and a little bit of cash for emergencies. From now on, ever extra bit of money i have gets converted to BTC and put away in a wallet. Accumulating. BTC is my savings from now on.
July 30, 2014, 04:47:23 AM
Investing your life savings in BTC may be a disaster. Chances are small for that to happen, but they are existing. However, *not* investing all you can afford to lose is stupid. If the bitcoin goes an order of magnitude up, or even more, you can lose one of few chances in life to really change your financial situation. When I say all you can afford to lose I mean exactly that, for instance: don't buy a new car, drive an old one for a few years more. Don't go on a fancy vacation, buy a dozen BTC with that money. One day you may own a place in the sun with the same money you've paid for it for to spend a few weeks there.
July 30, 2014, 04:07:18 AM
Not investing in Bitcoin is investing in fiat (in most cases), and who can honestly consider fiat an investment? Bitcoin seems like a good pick really
July 30, 2014, 03:22:19 AM
Investing your life saving in Bitcoin is quite risky.
July 30, 2014, 03:06:51 AM
I personally believe that the price will increase by at least a factor of 100 over the next 2 years. Therefore, investing all your life savings would be a very wise decision.
Where is technical and fundamental analysis behind these statements? Please provide us with your research. Thank you.Do you own one of these ?
July 30, 2014, 02:55:17 AM
I personally believe that the price will increase by at least a factor of 100 over the next 2 years. Therefore, investing all your life savings would be a very wise decision.
Where is technical and fundamental analysis behind these statements? Please provide us with your research. Thank you. Jump to: