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A lot of people don't know how to do that, but if you'd like to link to a simple guide then that'd be valuable. Emphasis on "simple." People put money into Bit

A lot of people don't know how to do that, but if you'd like to link to a simple guide then that'd be valuable. Emphasis on "simple." People put money into Bitcoin because it's simple to understand and to do. The volatility is the tradeoff.

derekp7 9y ago
Go to your bank, ask to speak with an investment specialist. Have then set up an automatic transfer every 2 weeks on your payday, to a Vanguard S&P 500 index fund.
pedrocr 9y ago
>People put money into Bitcoin because it's simple to understand and to do. If there are really people that are using Bitcoin as an investment because indexing isn't easy enough the situation is scarier than most people thought. Both because investing in index funds is very easy and because you have to be extremely bullish on Bitcoin to consider it more than a small percentage of your total retirement investments. If that really is the case then that's a reason to consider Bitcoin to be overpriced. The value is being propped up by the buying pressure of people who don't know how to do a simple stock purchase and have finally found a way to invest again after their experience with beanie babies.
- sillysaurus3 9y ago
  Well, most people don't have any investment training whatsoever. And by "any," I mean "literally nothing." It's not something you learn in school, and it's not something your parents teach you.
  - pedrocr 9y ago
    Which is why having those people "invest" in Bitcoin is crazy and risky both for them and for Bitcoin.
    - sillysaurus3 9y ago
      How could it be risky to Bitcoin? Also, Bitcoin isn't investing. It's speculation. But everyone knows that.
      - pedrocr 9y ago
        >How could it be risky to Bitcoin? By creating a bubble that bursts and drains all confidence from it. >Also, Bitcoin isn't investing. It's speculation. All the more reason for people that don't even know what index investing is to stay well away from bitcoin. >But everyone knows that. I've seen plenty of people defending bitcoin as an investment.
        sillysaurus3 9y ago
        Well, considering how many people got rich off of Bitcoin, they're not wrong. I disagree that bubbles are dangerous to Bitcoin. It's just the opposite: Bitcoin is defined by bubbles. I still remember selling five Bitcoin at the peak of $32/coin and feeling smug because it crashed to ~$12 after. That will happen, always. The world keeps turning. It doesn't matter if you ban it when people can participate via localbitcoins in person. So there doesn't appear to be any way for people to stop it or control it. I agree that putting your retirement money into it is a bad idea, but there's a wide range between that and putting in $2.
  - Steko 9y ago
    Most people work at companies with 401K plans and HR goes over the nuts and bolts of the plan early on when you first can enroll and they ask questions of their coworkers who have the same program.

derekp7 9y ago

Go to your bank, ask to speak with an investment specialist. Have then set up an automatic transfer every 2 weeks on your payday, to a Vanguard S&P 500 index fund.

pedrocr 9y ago

>People put money into Bitcoin because it's simple to understand and to do. If there are really people that are using Bitcoin as an investment because indexing isn't easy enough the situation is scarier than most people thought. Both because investing in index funds is very easy and because you have to be extremely bullish on Bitcoin to consider it more than a small percentage of your total retirement investments. If that really is the case then that's a reason to consider Bitcoin to be overpriced. The value is being propped up by the buying pressure of people who don't know how to do a simple stock purchase and have finally found a way to invest again after their experience with beanie babies.

sillysaurus3 9y ago
Well, most people don't have any investment training whatsoever. And by "any," I mean "literally nothing." It's not something you learn in school, and it's not something your parents teach you.
- pedrocr 9y ago
  Which is why having those people "invest" in Bitcoin is crazy and risky both for them and for Bitcoin.
  - sillysaurus3 9y ago
    How could it be risky to Bitcoin? Also, Bitcoin isn't investing. It's speculation. But everyone knows that.
    - pedrocr 9y ago
      >How could it be risky to Bitcoin? By creating a bubble that bursts and drains all confidence from it. >Also, Bitcoin isn't investing. It's speculation. All the more reason for people that don't even know what index investing is to stay well away from bitcoin. >But everyone knows that. I've seen plenty of people defending bitcoin as an investment.
      - sillysaurus3 9y ago
        Well, considering how many people got rich off of Bitcoin, they're not wrong. I disagree that bubbles are dangerous to Bitcoin. It's just the opposite: Bitcoin is defined by bubbles. I still remember selling five Bitcoin at the peak of $32/coin and feeling smug because it crashed to ~$12 after. That will happen, always. The world keeps turning. It doesn't matter if you ban it when people can participate via localbitcoins in person. So there doesn't appear to be any way for people to stop it or control it. I agree that putting your retirement money into it is a bad idea, but there's a wide range between that and putting in $2.
- Steko 9y ago
  Most people work at companies with 401K plans and HR goes over the nuts and bolts of the plan early on when you first can enroll and they ask questions of their coworkers who have the same program.