You cannot eat your cake and have it - page 11.

yoseph

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Quote from: dabenko on September 27, 2018, 06:51:42 AM

There is a popular saying that invest only what you can afford to loose. Some people are making the mistake of investing all their life savings into crypto and other ventures. Some people even went as far as borrowing money or even using their properties as collaterals to borrow money so as to invest into crypto. This is a wrong idea and it might cost you a lot.
Every investment has its risks. So consider the the risk involved by taking each step at a time and do not jump in once.

Going for a loan just to invest into crypto currencies is indeed one of the stupidest idea that there is. Crypto investments is not 100% guaranteed to make profits so one should put their entire savings on it.

audaciousbeing

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Quote from: dabenko on September 27, 2018, 06:51:42 AM

There is a popular saying that invest only what you can afford to loose. Some people are making the mistake of investing all their life savings into crypto and other ventures. Some people even went as far as borrowing money or even using their properties as collaterals to borrow money so as to invest into crypto. This is a wrong idea and it might cost you a lot.
Every investment has its risks. So consider the the risk involved by taking each step at a time and do not jump in once.

Well you have made some serious valid point that should be a point of reference to anybody who wants to make an informed investment decision when it comes to crypto. Putting all your life saving into crypto does not have to do with money alone as there are other angles to look at things. I have seen people on the forum ask question about quitting from their day job to focus on crypto and some would be willing to advice someone to take such decision. The point is there is no gain without gain. I have read about someone who invested his life savings during low price era in which at the time was referred to as a fool and witnessed some significant return on investment to the amazement of many who had mocked him. I have also read about someone on the forum here who suggested to his grandmother to invest in crypto but was disturbed because of the recurrent downward volatility. Eventually, it paid off.

In summary, you can eat your cake and still have it if you are smart about by take half of the cake and keeping the rest. It means while investing and dedicating to crypto, there is nothing wrong in having a backup plan.

Semaj123

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Quote from: Rastafarian on September 27, 2018, 10:58:47 AM

I sold a precious coin and regretted totally for selling the coin at that cheaper. The coin was worth $120 that time and some weeks after, there was over 200 percent increment to my surprise.

Well, this is why we need to be a risk taker and also no one really knows what could be the outcome of that specific coin/s. It's still probably worth kind of decision, especially if you only earned that coin through bounty campaign.

farosa

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1 & 0 😏

In my opinion, many traders have lost a lot of money until this statement is created. There is nothing wrong, in the volatile market your deposit should be as much as you can risk and never get the money you deposit from the bank as a loan.

isaac_clarke22

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Quote from: The Sceptical Chymist on September 27, 2018, 08:29:36 AM

Quote from: dabenko on September 27, 2018, 06:51:42 AM

There is a popular saying that invest only what you can afford to loose.

And that saying gets written way too often on this forum. It should be blatantly obvious to anyone with half a brain, yet people feel the need to keep writing it as though it's some new piece of wisdom.

Yet no matter how many times it gets said here, people still invest money they're going to need to pay bills or otherwise can't afford to lose. People buy bitcoin using high-interest credit cards. They buy bitcoin on margin. People have sold their houses to buy bitcoin. All of that seems crazy to me, especially given how volatile bitcoin can be. It'd be stupid to do all of that for any investment, but it's even more insane for anything crypto-related.

Yeah I don't really understand particularly how these people think that they're gonna earn more than what they had sold for Bitcoin. Like they have those guts to go all-in at the turn card while still don't have the knowledge that their game be thrown off anytime. It's not like they invested in Bitcoin blindly but what could be the thing that runs in their minds while buying Bitcoin at that amount.

dothebeats

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That's why studying the basics before diving deeper is always a must in order to get your funds safe and secure. Bitcoin involves money, and there's always a high possibility that you'd go bust eventually so better prepare yourself for the worst. There are ways to minimize the risk or mitigate the losses and that's what every trader/investor should focus on, not only on profiting and gaining. Controllimg every aspect of trading/investinf would aurely lead to a successful venture and eventually, monetary gains.

1NV3ST0NM3

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Quote from: dabenko on September 27, 2018, 06:51:42 AM

There is a popular saying that invest only what you can afford to loose. Some people are making the mistake of investing all their life savings into crypto and other ventures. Some people even went as far as borrowing money or even using their properties as collaterals to borrow money so as to invest into crypto. This is a wrong idea and it might cost you a lot.
Every investment has its risks. So consider the the risk involved by taking each step at a time and do not jump in once.

That is wise enough to have your money invested in different or precisely saying diversified portfolios. That is a smart strategy. Obviously on who will lput his entire earnings into one thing, then there is a greater risk. And that is the only reason why everyone tries to divide their savings. No doubt bitcoin is a goodd option, but taking too much risk on part of bitcoin is not advisable.

Rastafarian

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I sold a precious coin and regretted totally for selling the coin at that cheaper. The coin was worth $120 that time and some weeks after, there was over 200 percent increment to my surprise.

yuzefa

newbie

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I 100% agree with you mate... You can't eat the cake and have it.. You have to choose.
I personally prefer to NOT eat it but have it and... wait for some time Wink

KorakPawon

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Quote from: shulio on September 27, 2018, 06:59:15 AM

Well, in the bull market, I suggest everyone around me to maximize their investment by borrowing or by taking loan from bank. But it is not a good time to invest in crypto currency now. If you invest now with borrowed money, you will lose more than money. The time will come.

nothing easy in life there must be a struggle including in crypto maybe not as easy as you say, people will find it easy and even when they hear the success of people then people will follow in the footsteps of the person.

EllieBasti05

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It's a big gamble when you invest all of your money for nothing. If you have some $100 in you invest it and wait until it grow. Just make some income, not making any liabilities like borrowing money from the bank to invest in bitcoin, then after a months, it nothing ? whew.

Renal

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Before we invest with crypto, we must first think about the risks that will occur, especially when we invest with so much money and the money from the results of our borrowing will take a long time to return the money because the price of bitcoin is very fluctuative sometimes it rises sometimes down.

Tszunami98

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Quote from: shulio on September 27, 2018, 06:59:15 AM

Well, in the bull market, I suggest everyone around me to maximize their investment by borrowing or by taking loan from bank. But it is not a good time to invest in crypto currency now. If you invest now with borrowed money, you will lose more than money. The time will come.

I guess ''buy high, sell low'' is your financial advice then.

dabenko

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Quote from: 77clr010 on September 27, 2018, 09:21:05 AM

No, I can surely get my cake and eat it!
to the moon

You just came in here with a brand new account to spam, just for the sole purpose of making your posts count.
There is nothing like "I can get my cake and eat it". It is either " I can eat my cake and have it" or "I can have my cake and eat it".

77clr010

newbie

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No, I can surely get my cake and eat it!
to the moon

TranTrongit

member

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I agree with you. That was a big mistake. The higher the risk the higher the risk. Invest in knowledge and have limited. Only invest in the financial area allowed. If you invest in borrowed money you will always be in a state of anxiety and stress when investing.This will prevent you from making the right decision when investing.

The Sceptical Chymist

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Quote from: dabenko on September 27, 2018, 06:51:42 AM

There is a popular saying that invest only what you can afford to loose.

And that saying gets written way too often on this forum. It should be blatantly obvious to anyone with half a brain, yet people feel the need to keep writing it as though it's some new piece of wisdom.

Yet no matter how many times it gets said here, people still invest money they're going to need to pay bills or otherwise can't afford to lose. People buy bitcoin using high-interest credit cards. They buy bitcoin on margin. People have sold their houses to buy bitcoin. All of that seems crazy to me, especially given how volatile bitcoin can be. It'd be stupid to do all of that for any investment, but it's even more insane for anything crypto-related.

palle11

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Quote from: shulio on September 27, 2018, 06:59:15 AM

Well, in the bull market, I suggest everyone around me to maximize their investment by borrowing or by taking loan from bank. But it is not a good time to invest in crypto currency now. If you invest now with borrowed money, you will lose more than money. The time will come.

Well, from what I have read and know about business, it is not in bull time that we need to invest because you never know perhaps you will be entering while the bull has already been exhausted. Why don't we look at investing while the market price is still low? And that time is now.

Talking about the borrowing of money to chase a bull market, that can also be wrong. I have read of people who borrowed money to chase last December run thinking the move will continue in 2019 but here you and I are today Roll Eyes

Bull times are not the appropriate time to invest except you are lucky, otherwise, allow it to exhaust itself and fall back to correction.

unusualfacts30

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Quote from: dabenko on September 27, 2018, 06:51:42 AM

There is a popular saying that invest only what you can afford to loose. Some people are making the mistake of investing all their life savings into crypto and other ventures. Some people even went as far as borrowing money or even using their properties as collaterals to borrow money so as to invest into crypto. This is a wrong idea and it might cost you a lot.
Every investment has its risks. So consider the the risk involved by taking each step at a time and do not jump in once.

I believe I read an article somewhere last year about a guy who sold his everything and went all in crypto. He sold his only house, only car and his wife tried to stop him but he didn't listen and convinced her that it was okay to invest that much amount of money in crypto and taking so much risk. I wonder where he is today and whether he thinks it was a mistake. He was quite excited too.

BagzMM

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Quote from: dabenko on September 27, 2018, 06:51:42 AM

There is a popular saying that invest only what you can afford to loose. Some people are making the mistake of investing all their life savings into crypto and other ventures. Some people even went as far as borrowing money or even using their properties as collaterals to borrow money so as to invest into crypto. This is a wrong idea and it might cost you a lot.
Every investment has its risks. So consider the the risk involved by taking each step at a time and do not jump in once.

I think it must have to be in a wise and smart decision to make. Never involve to a situation without thinking and planning.

Topic: You cannot eat your cake and have it - page 11. (Read 1633 times)