Ask HN: How much to invest in bitcoin?

https://news.ycombinator.com/item?id=6818337

by sejje • 13 years ago

1 8 13 years ago

news.ycombinator.com

I have approximately 12 months' worth of living expenses. I'm single, young, no pets or children, and live very cheaply. I saved that much over a year, but this week I doubled my salary, as well.

If I lost all of the money it would really suck, but I would survive.

How much (if any) would you invest? If none, do you have other sensible advice?

rms2• 13 years ago

I haven't heard anyone suggest that it is responsible to put more than 10% of one's net worth into Bitcoin, but I would do that anyway.

sejje3• 13 years ago

Meaning you would put more than 10%? (It is a bit unclear the way you worded it)

rms2• 13 years ago

Yes, if I was in your situation I would put in more than 10%.

nickb13• 13 years ago

Never invest an amount of money that you can't afford to lose.

sejje3• 13 years ago

Thanks, but I tried to paint the impression that I can, in fact, afford to lose all of it.

Nothing will change about my lifestyle, rather only my bank account points and my progress in savings.

farabove• 13 years ago

Then invest all you can ?

strwbrry• 13 years ago

You have two options (there are more but let's not make this decision harder by throwing more options in)!

The first is to throw all of your money into investing in bit coins. You could do it right now. You then sit tight. Next challenge - when do you sell?

The second is you approach this in a lean way. Say if you have $10,000, you might buy $1,000 and then monitor this daily for the next 30 days - you then have some personal and realistic idea of which way your luck is flowing!

You could also setup a spreadsheet and pretend you have invested all of your money and track this - day 30 how are you feeling looking at the results?

I would also look at the likes of litecoin which is also showing some growth.

Best way, do it. Minimise the risk by testing it. 30 days is a great way to test.

Don't forget we're 90% wrong most of the time about everything - hey but that's ok!

Keep on keeping on

@scottsbarlow

Ask HN: How much to invest in bitcoin?

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