Topic: Who's brave/stupid enough to invest their life savings into Bitcoin? - page 24. (Read 33509 times)

The point for me is moot as I have practically zero net worth
By that logic, I should fully invest in bitcoin as I have so little to lose

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).

If you have enough life savings to buy more than one bitcoin, you must have been IN before the end of 2012!

Yep, me. I have 95% of my net worth in bitcoins.

By the way it's typical how you categorize this as brave or stupid, rather than smart/wise/visionary.

Furthermore, this also leads to the question: who is brave/stupid enough to invest their live savings into fiat?

I would rather have my money in Bitcoin than the equity markets that look set to burst or Fiat that will be subject to bail-ins when the banks collapse again.

With Bitcoin's track record, it's hard to justify being in anything else.

That is not good logic. If someone were to invest that savings rather then let it sit in a bank account then they would have vastly more money at the end of the day.

^ Very good logic. A lot of things you can use the past to predict the future, however this is not true when it comes to investing. Past performance does not guarantee future gains. You picked data points that support your point very well, however I can also choose specific data points where someone entered and exited that will net a huge loss.

lets say the buying power of a employee in the 1970's was equivelent to $22ktoday
that would be $6600 in 1970's bank notes


imagine it. 40 years ago a guy saves what remains of his weekly pay cheque in a bank account lets say that is 10%($660 a year)

1970's average wage $6,670   
1980's average wage $12,530
1990's average wage $20,293
2000's average wage $28,343
2010's average wage $30,513

yes i even calculated the years in between and grabbed 10% per year


the total over 40 years is $79074.23

saving up 10% a year for 40 years you would think you would get atleast the equievelent of 4 years salary +more if you include bank interest rates... well you wont, it will be only 2 years 6 months.

and that first year's 10% which would on equivelence would have bought as much average rent or groceries that today would cost you $3k.. but remember you only put $660 into the pot. so you cant use that first years savings to buy 10% of your lifestyle today, only 2%

basically you lost 80% of your savings VALUE, just holding bank notes

so now think about your future. if your going to put $3k into a bank account today. work out the amount of rent it would pay off now.

then when you retire, divide that amount of rental weeks by 5, and thats all you will be able to pay using this years savings... in 40 years (if your lucky)

and thats before you realise that in the 1970's there was a nice 5-6% interest... where as the last few years interest is less than 1%. meaning in 40 years your $3k will by worth alot less than 20% true purchasing value.

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

This should help shed some light on your situation, if you're an American:

https://www.youtube.com/watch?v=huF3oFjGk-M

https://www.youtube.com/watch?v=uQVa55j8IQw

This is hard to do in my case, because all little savings I get get ravaged by bills, food, basic shit, taxes, so I can barely get any extra fiat for BTC.

It is the same for any investment, shouldn't put all your eggs in one basket.

you let all your money in 1 bank ... what the difference ?
in Europe, you can have bail out ... and it's legal since december 2013.

Gov freeze and steal money from customers holding by a failed bank.
to avoid bank run ... like in portugal or bulgaria.

you have all economy of a life in a bank (like 92% of people) and what ?

my btc are my life savings

That's a good point, but it really shouldn't even need to be said. If you have children, it's obviously totally unethical to take risks with their future in any way, shape, or form.

That being said, if you have children and aren't already independently wealthy, you have failed at financial life.

Investing your life savings into any one thing is idiotic.  Despite the fact that you could come out way ahead, you should always be at least a little diversified. 

I guess if you really want to put it on the line, it is ok to do so only if you only have yourself to look after

If you have children, or a family that depends on you to handle the finances, then you should NEVER put all of your money in one spot.

I've gone in with 20% of the money in my bank account. 

Fact: Nation-state fiat scrip = depreciating asset, year over year, always.
Fact: Bitcoin = appreciating asset, year over year, always.

Don't think about it as INVESTING in Bitcoin (appreciating asset).
Think about it as DIVESTING from fiat scrip (depreciating asset).

Suddenly everything will make a whole lot more sense.

Listen up fools, dump 100% of your wealth into Bitcoin and never look back. Do it right now!



Let the motherfucker burn. You don't wanna go down with that obsolete sinking ship.

Bitcoin is your lifeboat! JUMP IN! Hurry, before everyone else does!

one thing I think some of you need to realize... many people here are young, and their "life savings" amount to $2,000 or less. investing a substantial portion of that amount into bitcoin may not be such a bad idea, unless the money is needed in the short term, of course.

we're not advising a wealthy sixty year old man with $10 million to invest... (in which case investing no more than 1 or 2 percent would be wise). but telling 20 year olds to invest only a tiny fraction of their money into something like bitcoin is actually irresponsible, because this could be their one chance to become wealthy... lord knows they're up against enough hurdles with government debts over their lifetimes.

Your point is valid. In this case, however, I assure you it does not apply.