Who's brave/stupid enough to invest their life savings into Bitcoin? - page 25.

leex1528

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Quote from: Beliathon on July 28, 2014, 12:19:26 PM

Believe me, or don't. Fortunately for me, my getting rich from Bitcoin never depended on anyone else's belief in my intelligence. But hey, nullius in verba. Words are but wind, right?

I was just making a point, and I am willing to bet that you would agree with me on that point:) Wasn't out to start a fight or anything

Beliathon

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https://youtu.be/PZm8TTLR2NU

Quote from: leex1528 on July 28, 2014, 12:07:35 PM

Statistically speaking, there is a very high probability that people who claim to be smart, are actually not, dear poster. I know it's not nice to say, but it's the truth. Get over it.

Believe me, or don't. Fortunately for me, my getting rich from Bitcoin never depended on anyone else's belief in my intelligence. But hey, nullius in verba. Words are but wind, right?

fsm247

full member

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Never put all your eggs in one basket Wink

megashira1

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Quote from: protokol on July 27, 2014, 10:38:56 AM

Quote from: BitcoinAccepted on July 27, 2014, 10:08:05 AM

Quote from: CasinoBit on July 27, 2014, 09:25:08 AM

Investing your life savings into Bitcoin is borderline retarded and indicative of a low financial intelligence.

That statement is so true it hurts.

Quote from: Baitty on July 27, 2014, 10:17:47 AM

So what do you think is a safe/good amount of your savings to invest in Bitcoin? 20, 30 over 50 percent?

The key here is it all depends on how much savings you've got. Most people I know have life savings of less than a year's salary, and don't own any assets. For them, it would probably make sense to invest a lot, >50%, because they could make the money back by living very economically for a few years.

If you have a million dollars in the bank, then it would be pretty dumb to invest >50% of it IMO, I would say no more than 15%, more like 5%

But if you have a million dollars and own 10 houses worth a million each, why not invest 100% of your money? If it fails, sell one of your houses and you'll have your money back.

This is such bad advice. You're advising the guy who doesn't have money to invest a lot of it, and the guy who has tons to invest a little.

Lauda

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Terminated.

Anyone investing their life savings into anything is pretty dumb.
You can get lucky, yes but this happens to a very low % of people.
You're most likely to lose some if not all.

Although Bitcoin is most likely to give you a return, you never know.

leex1528

hero member

Activity: 784

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Quote from: Beliathon on July 28, 2014, 11:54:06 AM

Statistically speaking, there is a very high probability that I'm smarter than you, dear reader. I know it's not nice to say, but it's the truth. Get over it.

Statistically speaking, there is a very high probability that people who claim to be smart, are actually not, dear poster. I know it's not nice to say, but it's the truth. Get over it.

Beliathon

hero member

Activity: 784

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https://youtu.be/PZm8TTLR2NU

Quote from: CasinoBit on July 27, 2014, 09:25:08 AM

Investing your life savings into Bitcoin is borderline retarded and indicative of a low financial intelligence.

The naysayers know less about finances than they think they do.

I have under $500 in my bank account at all times. I consider the dollar to be an extremely dangerous asset at this time. Unlike BTC, it's value is artificially inflated in a number ways, many of which face a dubious near-future.

By contrast, I consider Bitcoin to be an extremely safe store of wealth. The rest of my wealth in in Bitcoin. Oh, by the way...

Statistically speaking, there is a very high probability that I'm smarter than you, dear reader. I know it's not nice to say, but it's the truth. Get over it.

BitcoinMillionaire

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Bling Bling

Have you ever thought about the people who owe Bitcoin their life savings? Cheesy

Some became millionaires to to BTC, baby!!! Hehe

BTCevo

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The price has remained pretty stable over the last few weeks though, maybe it will stay where it is for the time being

leex1528

hero member

Activity: 784

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Isn't that the biggest mistake you can make is to invest everything into 1 thing? I mean yes it can payout, but aren't you supposed to spread it out a little bit so you don't completely crash your life if it were to die?

I just couldn't imagine putting my life savings into anything and then 2 days later losing all of that work....Ugh...makes me sick thinking about it

madken7777

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Youth and youngster will risk whatever they have to gain fame and wealth.

Look at all the dotcom billionaire, none of them are conservative in any measure.

Elwar

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Viva Ut Vivas

Who would invest their life savings in fiat currency?

Meuh6879

legendary

Activity: 1512

Merit: 1012

I have all my economy in bitcoin.

because bank restrict me.
because credit card restrict me.
because fee on credit card is DEAD.
because ... i want control my money from inflation.

wake up... Roll Eyes

ajareselde

legendary

Activity: 1722

Merit: 1000

Satoshi is rolling in his grave. #bitcoin

Quote from: Baitty on July 27, 2014, 07:54:18 AM

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?

Definetly dumb decision to make, that limits with the sanity of persons mind.
If bitcoin is to become so widespread and mainstream, all you need to own to get rich is 0.1 bitcoin, so why risk everything then..

Like Buffet once said, "I would never risk something i like and need, for something i dont, its just dumb thing to do"

Speedy350

newbie

Activity: 4

Merit: 0

I think investing all your life saving in bitcoin is fine if you have a job and just enough money to eat pay taxes ect... Even now It isn't a bad time to invest of course you can invest 50% of your life saving not everything. I personally would invest like 30% of my money if I would have a solid sum for It.

InwardContour

sr. member

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I would invest a great part of my life savings in bitcoins, maybe not 100% of them, but 75% yes.
My problem is just that I cannot convince my wife to do so

Mowcore

hero member

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My coins turned into my life savings, else I wouldn't have any!

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Quote from: MegaHustlr on July 28, 2014, 03:20:37 AM

Quote from: BTCevo on July 28, 2014, 02:21:25 AM

Quote from: cbeast on July 27, 2014, 10:07:15 PM

I'm in my fifties. I have no retirement. I am not an heir. I have gone all in with other industries and lost everything. I recovered, but I have never seen anything like Bitcoin. I fell in love immediately in March 2011. All of my savings have gone into Bitcoin since 2011 and I am "letting it ride". I'm selling my house and buying more bitcoins. You would be crazy not to. This isn't the 1929 stock market. This isn't MySpace. Bitcoin is a fundamentally new technology that was twenty years in development and has network effect. You can have your altcoins, but you trade them with Bitcoins, Baby!

Is selling the house to buy bitcoin not a tad bit risky? I mean where will you live? Shocked

Maybe he's just downsizing and putting the money he has left over into bitcoins or perhaps he can stay with friends or family.

I'm going overseas to SEA. I don't need my house.

MegaHustlr

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Activity: 601

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Vote 4fryn :)

Quote from: BTCevo on July 28, 2014, 02:21:25 AM

Quote from: cbeast on July 27, 2014, 10:07:15 PM

I'm in my fifties. I have no retirement. I am not an heir. I have gone all in with other industries and lost everything. I recovered, but I have never seen anything like Bitcoin. I fell in love immediately in March 2011. All of my savings have gone into Bitcoin since 2011 and I am "letting it ride". I'm selling my house and buying more bitcoins. You would be crazy not to. This isn't the 1929 stock market. This isn't MySpace. Bitcoin is a fundamentally new technology that was twenty years in development and has network effect. You can have your altcoins, but you trade them with Bitcoins, Baby!

Is selling the house to buy bitcoin not a tad bit risky? I mean where will you live? Shocked

Maybe he's just downsizing and putting the money he has left over into bitcoins or perhaps he can stay with friends or family.

ThomasCrowne

full member

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★☆★ 777Coin - The Exciting Bitco

in the case of bitcoin

high risk = high reward || great loss

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