Currently I have $20k in my bank account. Am I so stupid if I buy a full Bitcoin right now (~@10k) and sell it probably next month when it goes up few thounds dollars? I usually don't take risks when it comes to money, but I think risk is the secret of becoming rich. What do you think. Ps. I'm new in industry and in my mid 20's. That's why I don't have much savings.
Trend following may not be the best way to start your investments. I recommend reading the 4 pillars of investing and putting your money in a mix of SPY and bond index funds. The more risk you want, the larger percentage would go into SPY. Warren Buffet on bitcoin: “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending.”
I don’t understand the utility of bitcoin. I understand it removes a third party (banks) but really it just adds a different third party (coinbase or binance or some other exchange) that charges you 1.49% to buy a bitcoin! So it’s a much worse third party. Seems like a bad product or me and yet it has a market cap of 170 billion... if you have conviction in it then sure invest in it but I think it’s overpriced
That’s not accurate. With traditional currency, you always go through the banks to send/receive. With bitcoin, once you have it, you can use it without involving an exchange.
The main utility is that it’s not controlled by any bank or government. The money you supposedly have in the bank can be frozen by the bank at any moment for a variety of reasons. Nobody can freeze your bitcoin.
To me you are asking like, “how to make my $20k disappear” Lol
screw it. buy 2 BTC. DOUBLE OR NOTHIN.
😂😂👍
Live like there is no tomorrow!!!!
Why do you have to buy a whole Bitcoin? Just put in like 3k and don't sweat it.
Is it a safe bet? In the crypto world, yes. In the outside world, no.
Bull crap. It can absolutely go down to $1000 - aka the same value it had 12 months ago. It is not a safe bet by any stretch.
It's safe if you can bear to lose it
Buy ethereum instead
look into neo to play safe and you might see a nice gainer over the year. Think ethos looks good too... then look into some speculative things but research on your own... I like vibe, trx (bring it on trolls), dragon chain, qsp, etc. Got eth myself earlier at near 800. But things could fall more, no where near outta the woods
Don't pay attention chatter around cause most probably don't know much. Many seem to have missed the boat , so I can understand they feel vindicated right now. Think of it this way, if this takes off in the next few years, are you willing to risk 20000. If I had age on my side I would probably do it, but different folks have different risk profiles.
Don’t. Invest in crypto only the money you can completely lose and don’t get stressed about it.