BTC India
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I’ll be be receiving a substantial cash settlement in the next couple weeks from a property sale. I don’t really “need” it for anything pressing in the next year or two.
Common sense says I should put in a jumbo CD or something conservative. But I’m seriously considering putting it all into BTC. Probably the wrong place to ask for an objective answer lol – but, am I nuts?
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View Reddit by Snoo-55749 – View Source
Name one other place to put your valuables that isn’t run by crooks.
Buy 4 BTC and chill
Do you smell it boys? That sweet scent of fomo in the air. It’s good to be home.
If you’re nuts, then this is the nuthouse and you’re in good company.
I wouldn’t want my money anywhere else. Especially now.
In whole honesty, I am currently selling my family home to go all in on BTC.
The only exception would be if I found a serious partner that would require me to purchase us a bigger place for future family.
Split 50/50 into gold and bitcoin.
Come back in a couple of years and enjoy your lambo shopping.
Put it all in BTC. Expect it to go up and down. Eventually BTC will hit 1,000,000$ or at least 100,000$.
Sorry for my ignorant question but what is a “jumbo CD”?
I was in similar situation a couple years ago and I had way too much fiat in my bank account which I didn’t need to use in the short term. I ended up converting most of it to Bitcoin by is something I still do to this day by buying every month on pay day. I have some fiat in my bank account for day to day expenses and unforeseen circumstances.
I was considering precious metals and stocks but then I started reading about what Bitcoin is, how it works and why it works that way. To me it is the ultimate form of money.
I don’t think you’re nuts. Personally I don’t see any other place where to put the money I don’t need to spend in the short term.
The only cons I see is;
Capital gains tax
‘Neewbie’ emotions with the volatility
Needing the money in 1-2 years. Imo you should be buying and holding for 5+
Buying it on the wrong exchange. Or keeping it on an exchange
Not enough research in ‘cold storage’ and sending it to the wrong place. Or losing/giving away your seed phrase.
Getting scammed. As a new person it’s so easy to get caught up. If you ever get asked anything about your account/s or bitcoin, make a post here. Hide all of your info if you screenshot. We’re all happy to tell you how silly you are, but more importantly, that it’s a scam.
Diversity is almost always the best strategy in investing.
Many of us who have been on this forum for a decade have in the past been through an ‘all in’ phase.
Be warned it very easily drops lower than your buy in price which feels shit, just as Michael Saylor who caught the bitcoin bug, went all in and watched prices halve.
But if you truly love bitcoin you’ll be so excited with going all in that it’s an incredible life journey and one that has set me up for life
Would you be asking this question in dec ‘22?
Youre in fomo.
If you’re comfortable with the possibility, however small it is with losing all your BTC. The government could screw up the financial system even more and that CD issued by a bank could also be worthless. I would split it, some bonds, some stocks, and some BTC. Or someone that reduces your bills, better windows, solar panels, better appliances.
Only you know your risk appetite and whether it is pure investment grade capital
Nothing at all wrong with diversifying into BTC though…
There is a good reason people are losing faith in long term tradfi investment vehicles…
I’m really not convinced pensions will exist when I retire
We have seen how close pension funds came to requiring Govt. bailouts after Trussenomics burned 35bn out of the UK economy in a day…..
It really all is a house of cards built on quicksand
Put 25% into BTC, 25% into property, 25% into savings and 25% into treating your self.
I would rather diversify. Put some in btc. Put some in stocks or ETF and put some in overnight money for interest. It’s better for your sleep.
Start with- you don’t have common sense and you can build from there. Why ALL in bitcoin? Why ALL in a CD (locked into pathetic rates)? You have too much of a black/white financial outlook to have common sense which means your emotions will ruin whatever you put your money into when something does become “pressing.”
Exchange a part of the settlement for bitcoin and spend on a solid hardware wallet as well as a solid way of backing it up.
Take another part to push your savings account and use the rest of it for an extended travel around the world to celebrate the above.
That’s what lil’ me would do, and it would butter my croissant just fine.
Look at the chart since its inception. What does it tell you?
You will learn more from spending a couple of hours studying the chart and the ‘4 year cycle theory’ than you will asking on a heavily biased public forum.
Bullets. Bullion. Bitcoin
This is investment advice: Do your own research
Why would you put it in a jumbo CD that’s inflating at unprecedented rates?
Never put all your eggs in one basket.
Diversify risks.
Not stupid at all
Do not invest more then you’re willing to lose, BTC and Precious metals
Put some in btc and the rest in tbills! They are yielding over 5% and ull get the bitcoin run if it plays out
What could go wrong?
Pretty damn good timing, tbh.
Btc all day long. Best investment on planet.
Stupid ? You mean smart.!
Learn about self custody and cold storage before you do anything!
Gold and bitcoin. A jumbo cd sounds jumbo dumbo