100% of my savings go to crypto...I am 500% in averaged profit, so i would call myself rather brave than stupid 
Topic: Who's brave/stupid enough to invest their life savings into Bitcoin? - page 8. (Read 33530 times)
November 14, 2014, 09:23:55 AM
I am stupid / brave enough to do this, i already did it and i am doing it every month 100% of my savings go to crypto...I am 500% in averaged profit, so i would call myself rather brave than stupid
100% of my savings go to crypto...I am 500% in averaged profit, so i would call myself rather brave than stupid 
November 14, 2014, 08:36:29 AM
When you can haz cheezeburger for BTC, you guys are fucked ... https://www.youtube.com/watch?v=-8cbBNM63T0
November 14, 2014, 12:44:37 AM
What's up bitcoin noobs? Just dropping in to remind everyone what a cool cat I am.
Still got 97.5% of my life savings in Bitcoin. Still coasting at 250%+ ROI from time of divestment from that worthless scam called fiat.
It is not impressive if we don't know how much your life savings is
Fuck you, you poser. Not only do I have my life savings in bitcoin, and I am a cool cat, but I have a cool cat avatar to prove it. You're not cool until you get one yourself
November 13, 2014, 11:24:05 AM
If young and employed and little life savings, I guess it makes sense. If any of those cinditions is untrue, I'd call it unwise to foolish.
The younger you are, the more risks and long term investments you can make but a good way to accumulate wealth without leverage is to keep saving, diversify and not loose money on investments.
November 13, 2014, 10:20:43 AM
That would definitely be a bold move.
November 13, 2014, 09:23:53 AM
If young and employed and little life savings, I guess it makes sense. If any of those cinditions is untrue, I'd call it unwise to foolish.
November 13, 2014, 09:08:19 AM
It's always going to be a risk but I'm also starting to think it might be fairly safe to buy in at a low and then just dump when these price rises happen because of the wild fluctuations. Would've made quite a tasty profit recently. Might give it a go next time the price falls to a low 
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. November 12, 2014, 09:20:40 AM
Someone brave and enough I guess...answer into question.
November 12, 2014, 08:33:29 AM
Tough shit, I'm not here to impress you, I'm here to remind everyone what a cool (and giant-ballsacked) cat I am.
I impress myself. Since I'm smarter, more popular, more athletic, bigger-balled, more humble, and more attractive than you, this is all that matters.
I impress myself. Since I'm smarter, more popular, more athletic, bigger-balled, more humble, and more attractive than you, this is all that matters.
Hmmm....you finish your post by posting a picture of Justin Bieber to show how much more popular, athletic...etc? Fail.
November 11, 2014, 08:04:55 PM
Not for lack of trying, and due to being wiped out several times by various domestic emergencies, I don't have any significant life savings, so I guess you could say that what bitcoin I've got is it.
November 11, 2014, 05:10:47 PM
First of all a US bank can fail, many have, if the government decide to pay back depositors because they are not enough funds to pay them back in the legal order of repayment of creditors, they will inflate the currency so everyone will be poorer; the same will happen when the government inflate the currency to pay its obligations
You are correct, banks in the US fail all the time. However the FDIC, by contract has to repay the depositors their account balances up to $250,000 per account type. The government does not borrow/print additional money to repay this debt, the money is taken from the FDIC trust fund. Quote
Second of all banks in Europe start to have a negative interest rate meaning you are charge a % of your balance for the "benefice" of having it in your bank account
This is not happening on smaller balances period, anywhere, nor is it occurring in the US at all right now. The purpose of the negative interest rates is to discourage people from having large balances in their bank accounts, and to get people to withdraw excess amounts from the bank.Quote
Finally, the FDIC only has a balance allowing to repay about 1% of the insured deposits of 250k of less; if you take into accounts deposits of more than 250k$ it is way less :
"A March 2008 memorandum to the FDIC board of directors shows a 2007 year-end Deposit Insurance Fund balance of about $52.4 billion, which represented a reserve ratio of 1.22% of its exposure to insured deposits, totaling about $4.29 trillion." (wiki)
You are correct to say that the FDIC cannot pay if all of the banks were to fail, however the FDIC is designed to prevent this as since there is FDIC insurance people will not withdraw their money in panic if there is a chance an unrelated bank may fail."A March 2008 memorandum to the FDIC board of directors shows a 2007 year-end Deposit Insurance Fund balance of about $52.4 billion, which represented a reserve ratio of 1.22% of its exposure to insured deposits, totaling about $4.29 trillion." (wiki)
You also fail to take into consideration that the FDIC will not need to use it's insurance fund for the entire deposit balance of the failed bank, as the failed bank will have assets (loans owed to it) that the FDIC can/will sell to (likely) another bank.
November 11, 2014, 03:40:27 PM
Not me that's for sure, but I still do a fair bit of investing in it!
November 11, 2014, 03:37:42 PM
You are always going to have risk pretty much anything you invest in. So calling someone stupid/brave for investing is sort of silly. Investing is just a MUCH SAFER way to gamble.
No matter what you think you are gambling with your money when you invest. Hopefully it turns out for everyone though
No matter what you think you are gambling with your money when you invest. Hopefully it turns out for everyone though
November 07, 2014, 02:57:37 PM
Investing in a bank is another type of risk. The reason you get the 1% from the bank is beause of the risk that the bank goes bankrupt is about 1% per year.
Ooooh Yeaaaah ... you're a guy from the FED or from the ECB, right ?
The only banks (sic) in the world that they haven't gold to back up the economy.
Swiss have (gold)
BRICS have (big gold)
Bitcoin have (you can not forced or seized)
November 07, 2014, 02:34:55 PM
There is a golden rule to live by: never invest what you cannot afford to lose.
FOLLOW IT.
FOLLOW IT.
This ^^ a million times over!
Let's say you are cannot afford to lose any of your savings so you don't invest anything then you have all your savings in fiat currency, investing in a currency that will lose its value over time
No your logic is flawed. Having fiat is one type of investment where if state fails so does your fiat.
Investing in a bank is another type of risk. The reason you get the 1% from the bank is beause of the risk that the bank goes bankrupt is about 1% per year.
When you put money in a bank its a double investment as you will lose money if either the bank or the fiat loses value.
Fiat savings will get smaller purchase power with time as the state will print more money, this is money 101 really.
First of all a US bank can fail, many have, if the government decide to pay back depositors because they are not enough funds to pay them back in the legal order of repayment of creditors, they will inflate the currency so everyone will be poorer; the same will happen when the government inflate the currency to pay its obligations
Second of all banks in Europe start to have a negative interest rate meaning you are charge a % of your balance for the "benefice" of having it in your bank account
Finally, the FDIC only has a balance allowing to repay about 1% of the insured deposits of 250k of less; if you take into accounts deposits of more than 250k$ it is way less :
"A March 2008 memorandum to the FDIC board of directors shows a 2007 year-end Deposit Insurance Fund balance of about $52.4 billion, which represented a reserve ratio of 1.22% of its exposure to insured deposits, totaling about $4.29 trillion." (wiki)
November 07, 2014, 10:17:40 AM
Personnaly, I would never do that, trust in Bitcoin!
November 05, 2014, 11:35:47 PM
There is a golden rule to live by: never invest what you cannot afford to lose.
FOLLOW IT.
FOLLOW IT.
This ^^ a million times over!
Let's say you are cannot afford to lose any of your savings so you don't invest anything then you have all your savings in fiat currency, investing in a currency that will lose its value over time
No your logic is flawed. Having fiat is one type of investment where if state fails so does your fiat.
Investing in a bank is another type of risk. The reason you get the 1% from the bank is beause of the risk that the bank goes bankrupt is about 1% per year.
When you put money in a bank its a double investment as you will lose money if either the bank or the fiat loses value.
Fiat savings will get smaller purchase power with time as the state will print more money, this is money 101 really.
November 05, 2014, 11:14:11 PM
There is a golden rule to live by: never invest what you cannot afford to lose.
FOLLOW IT.
FOLLOW IT.
This ^^ a million times over!
Let's say you are cannot afford to lose any of your savings so you don't invest anything then you have all your savings in fiat currency, investing in a currency that will lose its value over time
No your logic is flawed. Having fiat is one type of investment where if state fails so does your fiat.
Investing in a bank is another type of risk. The reason you get the 1% from the bank is beause of the risk that the bank goes bankrupt is about 1% per year.
When you put money in a bank its a double investment as you will lose money if either the bank or the fiat loses value.
Fiat savings will get smaller purchase power with time as the state will print more money, this is money 101 really.
November 05, 2014, 09:07:24 PM
There is a golden rule to live by: never invest what you cannot afford to lose.
FOLLOW IT.
FOLLOW IT.
This ^^ a million times over!
Let's say you are cannot afford to lose any of your savings so you don't invest anything then you have all your savings in fiat currency, investing in a currency that will lose its value over time
Interest on bank savings will generally barely beat inflation if they beat it, it's the worst investment possible especially in this area of low interest rates and sunset of the Dollar which will lose most its purchasing power in the coming decade
If the FED keeps interest rates low and create a lot of USD it is very bad for fiat holders and this is exactly what the FED has been doing and will do even more when they think they need to to buy some more time
My main bank offers a "high interest" saving account, minimum $5K balance required. A whopping 1.05% interest. Wow, that's a real good place to park my money.
Inflation at the grocery store is probably 4-8% last few years
Holy shit.I guess I can actually be thankful that the inflation in my country isn't greater than my bank interest.
November 05, 2014, 06:21:04 PM
What's up bitcoin noobs? Just dropping in to remind everyone what a cool cat I am.
Still got 97.5% of my life savings in Bitcoin. Still coasting at 250%+ ROI from time of divestment from that worthless scam called fiat.
It is not impressive if we don't know how much your life savings is
I impress myself. Since I'm smarter, more popular, more athletic, bigger-balled, more humble, and more attractive than you, this is all that matters.
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