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Ask HN: Should I buy bitcoin?
I've heard arguments for all variety of stratagem, am generally inclined to invest a good portion of my savings, but can't shake the feeling that a ridiculous rally is afoot and soon to come crashing down. I'd love to hear the advice of this esteemed community! Thanks.
- a3voices 13y agoCan you handle the risk? If so, yes. You should have a non-zero amount of Bitcoin in my opinion.
- flippyhead 13y agoYeah I can. It's more that I can't tell if it's going to soon drop and I should wait, or if that should even matter. Something feel wrong about buying today when things are at an all time high.
- bcjordan 13y agoIf you want long-term exposure to a stock but don't want to implicitly make a bet on short-term value, chunk your purchase up into smaller amounts and do it over time (1/10th every day over the next week). Forget what this is called, but think it's a standard maneuver for wading in to a big long-term position.
- jadeddrag 13y agoI believe that's called "dollar cost averaging". http://en.wikipedia.org/wiki/Dollar_cost_averaging http://en.wikipedia.org/wiki/Dollar_cost_averaging
- a3voices 13y agoIf you think there's a 1% chance that a Bitcoin could be a million dollars, then buy 0.01 Bitcoins or something right now. Just do a risk analysis and figure out how much and when you want to invest. I agree it could go down in the short term or long term.
- Anderkent 13y ago>If you think there's a 1% chance that a Bitcoin could be a million dollars, then buy 0.01 Bitcoins or something right now. That only tells you whether to invest, not how much. I.e. if you think there's a 1% chance a bitcoin might be worth a million dollars, that tells you you should buy it if it's worth less than $10k. (and then probably half that again to cover the delay)
- logjam 13y agoHere's a novel thought: do something good with your money instead: e.g., education, investment in socially-responsible companies, etc.
- flippyhead 13y agoLet's say I already do but I need quite a lot more to make any significant impact. I'll be pissed if I had the chance to make that happen but balked.