I would want to have sold my house to buy bitcoins just an year ago in this period...
why only a year ago.. i would have done it 2 or 3 or 4 years ago.. i would have also mined if someone told me about it.
i would have done much better than you :-)
Topic: Who's brave/stupid enough to invest their life savings into Bitcoin? - page 22. (Read 33530 times)
July 30, 2014, 02:46:21 AM
why only a year ago.. i would have done it 2 or 3 or 4 years ago.. i would have also mined if someone told me about it.
i would have done much better than you :-)
July 30, 2014, 02:33:03 AM
I would want to have sold my house to buy bitcoins just an year ago in this period...
July 30, 2014, 02:30:50 AM
I personaly know people who sold property to buy bitcoin. I was surprised to see them sell all their bitcoins just for some quick profit. A risky gamble! As I was told, the man couldn't handle the instability the price had so he sticked with the fast profit. It did pay out eventually.
uhh yup.. sell property and buy bitcoin.. if it goes up.. sell. then profit?
a risky gamble. huh? are we reading different books
Well, selling something in real life to invest in a currency so volatile sounds risky to me... What if the next downtrend started the day after he bought in?
uhhm.. well then you dont sell.. just like everyone who got into bitcoin after december.. they keep explaining how they wont sell or buy stuff using btc until it reaches $1000 and then apparently they all will dump hence the price wall and weak hands. it will take us some time of reconciling before price moves anywhere.
July 30, 2014, 02:28:24 AM
Lots of people invest quite a bit of their saving in the early days of bitcoin when there is no usage and no adaptation.
Who is laughing now?
Who is laughing now?
yes. THOSE PPL HAD BIG speculative BALLS or a need to buy and sell on SR. it's still very speculative now but 2 years ago it was a pure gamble. believer or not.. many times similar schemes have been attempted and failed. even now the "idea" of bitcoin and decentralization is no more, so purist investors in technology are still gambling as they now trust the network. please tell me different.
July 30, 2014, 02:26:17 AM
I personaly know people who sold property to buy bitcoin. I was surprised to see them sell all their bitcoins just for some quick profit. A risky gamble! As I was told, the man couldn't handle the instability the price had so he sticked with the fast profit. It did pay out eventually.
uhh yup.. sell property and buy bitcoin.. if it goes up.. sell. then profit?
a risky gamble. huh? are we reading different books
Well, selling something in real life to invest in a currency so volatile sounds risky to me... What if the next downtrend started the day after he bought in?
July 30, 2014, 02:24:28 AM
I personaly know people who sold property to buy bitcoin. I was surprised to see them sell all their bitcoins just for some quick profit. A risky gamble! As I was told, the man couldn't handle the instability the price had so he sticked with the fast profit. It did pay out eventually.
uhh yup.. sell property and buy bitcoin.. if it goes up.. sell. then profit?
a risky gamble. huh? are we reading different books
July 30, 2014, 02:22:35 AM
i envy OP as this is the kind of posts i need to start. 7 pages of nothing.. not even trolling. is there a word for meanininglessness?
+1 to my post as an addition to worthless.
+1 to my post as an addition to worthless.
July 30, 2014, 02:22:14 AM
I personaly know people who sold property to buy bitcoin. I was surprised to see them sell all their bitcoins just for some quick profit. A risky gamble! As I was told, the man couldn't handle the instability the price had so he sticked with the fast profit. It did pay out eventually.
July 30, 2014, 02:19:14 AM
Lots of people invest quite a bit of their saving in the early days of bitcoin when there is no usage and no adaptation.
Who is laughing now?
Who is laughing now?
July 29, 2014, 05:27:00 PM
You don't need fiat to buy groceries at Whole Foods, Target and a bunch of restaurants.
http://www.gyft.com/buy-gift-cards/whole-foods-market/
http://www.gyft.com/buy-gift-cards/whole-foods-market/
I am aware I can buy gift cards to pay for stuff.
This isn't really living off bit coin though...I mean if I created some random currency people accepted and the only way they could cash them out was through Giftcards that were worth USD, I would say I am using USD to pay for the food.
Plus if I am in a hurry from work, or just want to stop quickly, I don't have time for that sometimes...
The point is that you are able to live off of bitcoins.
The fact that Dell uses a third party to handle bitcoin transactions makes the bitcoin purchase no less useful to bitcoin holders than if you were sending directly to a Dell bitcoin address. Same with a gift card company handling your bitcoin transaction in the physical world.
July 29, 2014, 03:26:51 PM
You don't need fiat to buy groceries at Whole Foods, Target and a bunch of restaurants.
http://www.gyft.com/buy-gift-cards/whole-foods-market/
http://www.gyft.com/buy-gift-cards/whole-foods-market/
I am aware I can buy gift cards to pay for stuff.
This isn't really living off bit coin though...I mean if I created some random currency people accepted and the only way they could cash them out was through Giftcards that were worth USD, I would say I am using USD to pay for the food.
Plus if I am in a hurry from work, or just want to stop quickly, I don't have time for that sometimes...
July 29, 2014, 03:23:35 PM
But I can't go to the grocery store with my bitcoins, and provide food for my family, I need fiat for that.
You don't need fiat to buy groceries at Whole Foods, Target and a bunch of restaurants.
http://www.gyft.com/buy-gift-cards/whole-foods-market/
July 29, 2014, 12:39:45 PM
With Bitcoin's track record, it's hard to justify being in anything else.
This, and with the Dollar and Euro track records (and especially their bank-monopolized fundamentals of fractional reserve banking) it's hard to justify being in fiat at all, other than the necessary payments for services that don't accept Bitcoin yet (such as taxes and mortgage).Really? I'm a big believer in bitcoin but bitcoin doesn't really have a 'track record' as being stable. I think bitcoin is more of a risk than most strong fiat currencies at the moment but this could all change.
My point is not that Bitcoin is stable but that it has gone up like crazy over the last few years. I don't think that's going to change for the next several years as *still* almost nobody knows about Bitcoin in any meaningful way and even fewer have any.
It's going to have some shock rises and also some shock crashes. It's still early days and people need to understand that.
July 29, 2014, 12:36:50 PM
With Bitcoin's track record, it's hard to justify being in anything else.
This, and with the Dollar and Euro track records (and especially their bank-monopolized fundamentals of fractional reserve banking) it's hard to justify being in fiat at all, other than the necessary payments for services that don't accept Bitcoin yet (such as taxes and mortgage).Really? I'm a big believer in bitcoin but bitcoin doesn't really have a 'track record' as being stable. I think bitcoin is more of a risk than most strong fiat currencies at the moment but this could all change.
My point is not that Bitcoin is stable but that it has gone up like crazy over the last few years. I don't think that's going to change for the next several years as *still* almost nobody knows about Bitcoin in any meaningful way and even fewer have any.
July 29, 2014, 11:58:21 AM
If none of you have the balls/stupidity to invest all your savings then only invest a small amount every month and wait until you at least get double for profit.
July 29, 2014, 11:57:04 AM
Would be stupid to invest all saving into USD, bitcoin(or gold) is a hedge against losing all saving.
July 29, 2014, 11:51:03 AM
that my friends is called inflation
you think that putting in 10 weeks rent into a bank account for your retirement. will pay for 10 weeks rent in 40 years.. nope.
you think that putting in 10 weeks rent into a bank account for your retirement. will pay for 5 weeks rent in 40 years.. nope.
you think that putting in 10 weeks rent into a bank account for your retirement. will pay for 2 weeks rent in 40 years.. probably not.
so my point being if you invest 10% of your salary into bitcoin.. would you be left with less or more
well 10 weeks rent invested just in march would give you 15 weeks rent cashing out today
well 10 weeks rent invested just last year would give you 60 weeks rent cashing out today
well 10 weeks rent invested just 2 years ago would give you 1000 weeks rent cashing out today
you think that putting in 10 weeks rent into a bank account for your retirement. will pay for 10 weeks rent in 40 years.. nope.
you think that putting in 10 weeks rent into a bank account for your retirement. will pay for 5 weeks rent in 40 years.. nope.
you think that putting in 10 weeks rent into a bank account for your retirement. will pay for 2 weeks rent in 40 years.. probably not.
so my point being if you invest 10% of your salary into bitcoin.. would you be left with less or more
well 10 weeks rent invested just in march would give you 15 weeks rent cashing out today
well 10 weeks rent invested just last year would give you 60 weeks rent cashing out today
well 10 weeks rent invested just 2 years ago would give you 1000 weeks rent cashing out today
perfect example.
July 29, 2014, 10:27:09 AM
So what do you think is a safe/good amount of your savings to invest in Bitcoin? 20, 30 over 50 percent?
from my opinion, its safe enough but not good enough.
A villa on the Indonesian island of Bali has sold for over $500,000 worth of bitcoin in what is the largest purchase ever made with cryptocurrency. Thats HUGE for me
July 29, 2014, 09:58:56 AM
I do have dependents and obligations so, no. It will not be a good thing to do for me unless I can surely win in a lotto the day after I invested everything to Bitcoin. 
July 29, 2014, 09:58:01 AM
Right now i'm 90% in bitcoin lol
Jump to: