Would you store all your wealth in BTC? - page 4.

CoinCidental

legendary

Activity: 1316

Merit: 1000

Si vis pacem, para bellum

Quote from: yenom on December 22, 2013, 04:35:50 AM

I save about 10-15% of my income every month. It used to be in UK investment trusts, but it's now all going to bitcoin. I have played with the idea of maybe investing some in gold coins, but I don't trust the government to not confiscate it when the economy implodes because of the massive national debt burden and a time when treasury prices go no-bid. Having said that, predatory governments could say "Give me your bitcoin or go to jail", but I think that's unlikely.

I am now wondering if I should cash out a good portion of my investment trusts and convert to bitcoin. Not sure yet.

its harder for them to prove you have any BTC " or go to jail "
even if they can prove you bought some ,you could have accidently deleted your wallet.dat or had a hdd crash Wink

a lot safer than silver /gold in that respect

yenom

full member

Activity: 168

Merit: 100

I save about 10-15% of my income every month. It used to be in UK investment trusts, but it's now all going to bitcoin. I have played with the idea of maybe investing some in gold coins, but I don't trust the government to not confiscate it when the economy implodes because of the massive national debt burden and a time when treasury prices go no-bid. Having said that, predatory governments could say "Give me your bitcoin or go to jail", but I think that's unlikely.

I am now wondering if I should cash out a good portion of my investment trusts and convert to bitcoin. Not sure yet.

CoinCidental

legendary

Activity: 1316

Merit: 1000

Si vis pacem, para bellum

Quote from: Skoupi on December 22, 2013, 03:10:16 AM

I don't think that this is the time to ask about all our wealth...
These days the question is if you are going to store even a single dollar in BTC Embarrassed

YES!

Skoupi

sr. member

Activity: 252

Merit: 250

Skoupi the Great

I don't think that this is the time to ask about all our wealth...
These days the question is if you are going to store even a single dollar in BTC Embarrassed

prezbo

sr. member

Activity: 430

Merit: 250

I have a ridiculous amount stored in bitcoin (about 70%) but would *never* have it all, nor anyone with half a brain should, at least not until it somewhat stabilizes.

nSuper

newbie

Activity: 27

Merit: 0

I wouldn't store all in BTC but definitely some and some more in other coins and some in banks. Just for security.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

I use my bank accounts to receive my paycheck and pay my mortgage. The rest I send to the exchange to convert to real money.

beetcoin

sr. member

Activity: 434

Merit: 250

that's so reckless to put all your wealth into BTC. as far as we know, there is a 50/50 chance that BTC will even make it. no one really knows what's going to happen. it's fine to be for the bitcoin movement, but you could easily end up losing almost everything.

mindfulmojo

sr. member

Activity: 448

Merit: 250

Quote from: nowise on December 22, 2013, 12:33:04 AM

wow... the delusion is astounding. You fools should be taking 20% of profits every year to improve your life. You move forward and have less regret if it fails. Life is not a binary game of all or nothing. Learn to balance and move forward in steps.

The value system of a dirty neck beard in his parents basement doesn't go well with instant wealth. People binge, and they they end up where they started.

Take some profits now, and improve yourself:

buy some nice fucking clothes so you don't look like a dirty slob
buy a usd 7000 car (not one fucking cent more), you don't need a Porsche or a BMW, but you shouldn't be driving your 1998 pontiac anymore either
buy a nice shaving kit

life is never an all or nothing game. move forward in increments.

This ^^^^

and buy some precious metals... people compare to bitcoin to gold. Don't you think you ought to have both?

CoinCidental

legendary

Activity: 1316

Merit: 1000

Si vis pacem, para bellum

i think btc is safer than the hyper-inflation thats coming so i keep a lot of my wealth in coins
i still use fiat notes to spend becaise i live in thailand and AFAIK there are no stores accepting
btc yet even though most people have a smartphone by now including schoolchildren Cheesy

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

Everything I have in crypto now is "extra". So, ... um, because I don't exactly have any fiat wealth anyway.

twistedtrick

full member

Activity: 154

Merit: 100

Of course not...I also wouldn't store all my money in USD in a savings account.

Diversification is imperative.

nowise

newbie

Activity: 22

Merit: 0

wow... the delusion is astounding. You fools should be taking 20% of profits every year to improve your life. You move forward and have less regret if it fails. Life is not a binary game of all or nothing. Learn to balance and move forward in steps.

The value system of a dirty neck beard in his parents basement doesn't go well with instant wealth. People binge, and they they end up where they started.

Take some profits now, and improve yourself:

buy some nice fucking clothes so you don't look like a dirty slob
buy a usd 7000 car (not one fucking cent more), you don't need a Porsche or a BMW, but you shouldn't be driving your 1998 pontiac anymore either
buy a nice shaving kit

life is never an all or nothing game. move forward in increments.

Frost000

full member

Activity: 168

Merit: 100

I live cheaply (or as I'd like to call it: cost efficiently) but I wouldn't make a full switch anytime soon. There are still many advantages for me to use fiat. My bank accounts help me stay above inflation and my "bonuses" (credit cards with points, etc.) have permitted me to go on multiple trips these past couple of years.

Once more businesses accept Bitcoin, I may make more of a switch but right now I can't see myself being "all in". It's too early for that, in my opinion.

luv2drnkbr

hero member

Activity: 793

Merit: 1026

I'm also in the all-in-bitcoin, living cheaply, planning retirement camp.

BTCisthefuture

sr. member

Activity: 364

Merit: 250

No

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: TonyOliver on December 21, 2013, 09:28:57 PM

Its never a good idea to keep all your eggs in one basket.

Exactly, I would never trust all assets in any one investment vehicle. Especially one as young as Bitcoin. At this stage Bitcoin is like investing in a junk bond.

BrandonQ1995

newbie

Activity: 29

Merit: 0