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Now Is The Time To Invest Your Life Savings In Cryptocurrency. $150,000 invested.

Discussion in 'CryptoCurrency' started by imoneyboy1, May 20, 2017.

  1. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    I would not put all my savings into those stocks either.

    Diversification is the name of the game and risk levels change as you age.

    I remember taking a huge shot when I was 24 and telling my Mother that if it failed I was only 24 and would recover.

    At this stage of the game my risk tolerance is significantly lower but in either situation I would not go all in with my life savings.
     
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  2. issorc

    issorc Jr. VIP Jr. VIP

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    I wouldn't be too sure about such stuff. If for some reasons, for example, the USA invent some strong laws against cryptocurrency, they'll drop hard. Really hard. Something like that could lead to the end of some coins. 3-4 coins are not well enough diversified inside cryptocurrencies and buying only cryptocurrencies is no great idea at all imo. I wrote an essay about Bitcoin three years ago and many of the problems I found to be the most important are still there. Bitcoin is just an example, but most of the cryptocurrencies have some serious weaknesses imo.
     
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  3. MakeGreenM8

    MakeGreenM8 Jr. VIP Jr. VIP

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  4. invictum777

    invictum777 Registered Member

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    "because they are the future, and the future is now." so there's no real reason.
     
  5. SEO

    SEO Jr. VIP Jr. VIP

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    Everything is awesome until the government regulates it. As for the consequences of risking life savings, it's simple. Picture when you were living with your parents. Then, picture one of your parents coming home and saying "we've lost everything." Worst case scenario, but it plays out everyday somewhere.
     
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  6. JV1999

    JV1999 Jr. VIP Jr. VIP

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    I mean you're right. But it's very unlikely. I mean some years ago I laughed at crypto too, and just chalked it up as some kind of risky digital thing that would fail because lol wtf is "internet money." And I thought only nerds would use it, and it was bound to have some kind of huge issue because most new things have issues.

    But so you wrote your paper 3 years ago, and I think btc is now 2x the price from back then (if not more). And I laughed at crypto probably around that same time, and same results.

    I'm not saying invest in crypto long-term. I'm just saying, for the next few months or year(s), throwing a life saving's into crypto (and not the bad coins) is not really that much of a risk. I mean they're getting international attention and being adopted across governments and industries. They're making laws to regulate them. You have multi-billion exchanges and companies spending millions to make coin miners.

    The general public is still either unaware or unsure about crypto much like we were. And it's for that reason that I would've thrown my life savings in right now and then leave when it bursts.

    Ofc your paper and everyone's doubts about crypto are probably right. But that's only in the very long run, when we've already taken profit.
     
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  7. issorc

    issorc Jr. VIP Jr. VIP

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    I'm sure there's potential to make a profit with cryptocurrencies like you said, but I'll stay away from it for now (maybe I'll kick myself in the ass for that in a few years but who knows). Another reason for me personally is that I don't have a lot of money to invest (or even gamble) right now and that is much better used in my IM projects.

    And you're right about the time of my paper, much happened since then and I've not followed the development of the most coins since then. When I wrote it, Bitcoin was like 400 bucks.
     
  8. ehinoze

    ehinoze Power Member

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    No need to Flame the Op. Whoever has money to invest should invest. I was making about 50% of my funds selling btc and buying back. It's just like gambling but worked cos there's always a dance
     
  9. soa0611

    soa0611 Power Member

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    honestly i lold:D though this crypto idea is inspiring one. I even read what is blockchain on Wikipedia
     
  10. shapsp

    shapsp Power Member

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    Honestly, when BTC had a dip in pricing (back in April 2017), I was about to invest $10K. But, I already lost too much in stocks. So, steered clear. Haiz. I would have been like what $20K richer in 1 or so month.
     
  11. imoneyboy1

    imoneyboy1 Regular Member

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    Yes, this is what I have discovered also. I may be more fond of XRP's future, it is a tough call. I, and anyone can simply trade over some of the Litecoin (LTC) investments over to Ripple (XRP). These and plenty other coins must be observed daily if you plan to invest.
     
  12. NoHypeNeeded

    NoHypeNeeded Junior Member

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    I truly can't even believe there are people on here saying "fuck yeah, I'd put my life savings into it" and anything close to that.

    Your LIFE SAVINGS? I think that's the most ridiculous thing anyone can say, to put literally all your eggs ever saved up in one basket, is just ridiculous. Your argument of "well if you had invested in Google around that time you'd be Bill Gates" is moot because we're not talking about a website or a product. This is something that (as mentioned) could one day soon be regulated or fucked with by the U.S government and as mentioned, if that happens, game over. I mean, really.

    I don't know, I'm sitting here literally saying to myself "your whole life savings into one thing" and it just never adds up. That's just simply not smart.
     
  13. SEO

    SEO Jr. VIP Jr. VIP

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    Yep. The Gubmint doesn't like competition. I wouldn't be surprised if they're already working out their plans. I'd invest, but I certainly wouldn't throw everything I have into it.

    Last time I heard about someone competing with the government with their own currency
    http://www.nytimes.com/2012/10/25/us/liberty-dollar-creator-awaits-his-fate-behind-bars.html

    The only reason I think crypto has gotten along as far as it has is because of its decentralized nature. No doubt in my mind that governments will get involved on this. It could be something as simple as taxing any transactions settled in crypto via the merchant, then fees get passed along to the customer.
     
  14. datsunguy

    datsunguy Supreme Member

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    Looks like OP suffers from savaxitis, heard its incurable too.
     
  15. ttmschine

    ttmschine Regular Member

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    There's a difference between investing and speculating.

    Investing requires putting your money into companies with sound underlying fundmentals that have performed well over many years and shown growth in that time - that is what Warren Buffet does.

    Speculating involved throwing your money into something in the expectation that it will become more valuable, often on the basis that the price of some similar commodity/business has grown rapidly before, and / or because it's the "in thing" and is being hyped to oblivion.

    With speculating it's a cross between a coin toss - either you luckily make money or you lose money, and a pyramid scheme - if you get in early before the major hype you make money.

    But in reality what's often happening is that (as with pyramid schemes) the early birds "make money" by sucking up the money of the suckers who join later on.

    Then it all collapses.

    Good luck but this is not an investment, it's a gamble.
     
  16. ProfessorFalken

    ProfessorFalken Registered Member

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    OP, so how much have you earned from the 15$ you invested?
     
  17. roki4ka

    roki4ka Power Member

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    I don't like putting money in things I have so little control.

    I'm scared, OP
     
  18. crazzy89

    crazzy89 Registered Member

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    All that money put in, on those few coins, when there are so many potential ones out there that you could make so much more on with so much less invested. NMC for example, IXC for example.. $5,000 in each of these 2. and you wouldnt have risked a house.... and youd be in with the same chance of success...
     
  19. lovepreet

    lovepreet Newbie

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    Do You think that only Ripple Market Cap will be increased, But According to Many predictions after 1 year Ripple Market Cap will be $100 Billions than Bitcoin market cap will also be accrued. In 2018 BTC Marketcap will be over $150 Billions Because now bitcoin value is $2289/BTC and it will be more than $6000?BTC in future.
     
  20. yuuzokun

    yuuzokun Power Member

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    Did the same , invested around 7K$ but here is an advice for you.

    Never invest all your money (life savings) in one thing. You'll regret it.

    Anyway good luck to you. Hope you'll get a nice return from that .