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- What if I put all my money in Bitcoin? : Bitcoin
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- Should You Be Tempted to Invest in Bitcoin?
In , the massive sell-off in cryptocurrencies, including bitcoin, was swift, brutal and worse than the bursting of the dot-com bubble in Each successive high is higher, and the lows are not quite as low, but bitcoin is certainly not immune to another major correction. Though for Taihuttu, the bitcoin play isn't all about making a profit. He's already given half of his money away to charity, and his family of five has spent the last four years traveling the world, in order to spread the gospel of decentralized digital currencies.
Skip Navigation. Markets Pre-Markets U. In this article. VIDEO Digital Original. When Covid shutdown department stores, this woman invested in inventory and changed her business strategy.
What if I put all my money in Bitcoin? : Bitcoin
Now business is booming. Robert Exley Jr. Small businesses have 2 more months to apply for forgivable PPP loans. Here's what you need to know. When you were looking at such a huge return on your investment, did you want to get your normal life back? There were a few times. There was a moment where we thought if we cashed out, we could have our life forever. But we wanted to live decentral. We need a few thousand a month to live. Just leave it forever. Did you ever have any regrets?
Were you ever bummed out about the crash? The glass is always half full. I still trade because I like it.
This Bitcoin Family life. I speak at conferences, we wrote a book, so why would I ever change that? Our mission has never been more vital than it is in this moment: to empower through understanding.
Should You Be Tempted to Invest in Bitcoin?
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Pay off you student loans, save k in an emergency fund, plus fund your retirement, and pay off your mortgage. Then buy bitcoin? Good point. Can you help the noobs and tell somebody who barely even knows what Bitcoin is how to tell legitimate alt coins as you described from the high percentage of pure-shit coins? Just to get this straight to the point, for everyone else What gets me are the people sending Bitcoin to scammers, thinking they'll be getting even more Bitcoin back. If you pick something that BTC is lacking in privacy, for example , there are a number of coins out there that fill that gap.
For example, zcash, dash, and monero. Out of those you can do your own research and find that the only one that has privacy enabled by default is monero, leading me to believe it is not a shit coin. The best starting place is if they have a working product though. For the beginner, the non-expert, they're safest staying away from alt-coins as a "get rich even faster than Bitcoin" bet. Second and third layer Bitcoin systems will be able to do everything any alt does, except all secured by the real blockchain. Smart contracts, distributed computing, bandwidth markets, you name it.
We already get near instant transactions and uncensorable encrypted Tor routed messaging through Lightning, just wait and see what the next decade brings. Privacy coins will have more users if BTC does gain some features, and it will always be better to use a coin where privacy is enabled by default. This is basically the Lightning Network, it's natively much more private than the main chain. Tor onion routing through multiple parallel channels is baked in. It is not private. There is no comparison between any BTC related technology and coins built for privacy. I believe that unless a person is an expert and has a specific need for a specific, legitimate alt coin, they'll be okay without owning any alt-coins.
Most of the people asking questions here can't even tell us what Bitcoin actually is. So, for them, for the general public, stay the fuck away from alt-coins because there are mostly but not all scams. You guys keep saying diversify and don't put everything in one basket. In times like these, what other baskets do we have than crypto and gold bars? This opinion is drowned out by more "rational" opinions. I don't see how traditional investing advice is relevant during an unprecedented shutdown that is contracting a global economy that runs on infinite growth.