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Ask HN: How much to invest in bitcoin?
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?
- rms 13y agoI 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.
- nickb13 13y agoNever invest an amount of money that you can't afford to lose.
- sejje 13y agoThanks, 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.
- strwbrry 13y agoYou 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