Crypto News: September 17, 2018

Getting Rich With Bitcoin! Really?

Update :

Should You Invest all your money, or lifesavings into BITCOIN?

Well, let me tell you that BITCOIN and crypto have run circles around all other investments, including bonds and the stockmarket, but there's more to this question than meets the eye.

Here is recent look to what has been happening with bitcoin prices in just the last few months.

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You can see how the chart above has violent swings, probably the most violent we have seen in any asset class, since the dot com boom. The swings can last days, or weeks, and can go up hundreds of percent, so perhaps if you are asking should you put your life savings into something this risky, the answer might be pretty obvious.

Social Security was never designed to be a primary income source, yet we see countless people put their checks into this sort of a commodity and with the recent 70% drop in prices, we do feel for these people.

But what you may not realize about Social Security is that it's not exactly a program designed to be a primary income source -- even if 62% of existing aged beneficiaries rely on it as exactly that. The Social Security Administration (SSA) suggests that beneficiaries lean on their benefit to replace about 40% of their working wages. Though this percentage could be a bit higher for lower-income folks and lower for those people with higher annual earnings, the gist is simple: Social Security isn't a primary income source.

Should you go long on the bitcoin with your Social Security income and lifesavings?

One idea that's commonly referenced is that of putting your lifesaving or 100% of your work income to work in the bitcoin. But is this a good idea?

Over the long run, there's little disputing the fact that the performance of bitcoin is a fantastic creator of wealth. Despite 36 stock market corrections in the S&P 500 of at least 10% since 1950, each and every one of these downturns has eventually been erased by a bull market rally, people are now moving over to bitcoin to be a creator of wealth. Is this really an astute thing to do.

But if you had your money in bitcoin since about 2011, you would be still up in profits of about 10,000%, and that even takes in account the recent heavy falls and losses witnessed in the prices of bitcoin in 2018.

Timing is everything, and you simply can't time the crypto market with any consistency over the long run, even our members who claim our crypto chatter bot is highly accurate in calling the big ups and downs in the market, we have to admit this is not financial advice and we do not actually know what happens next, we are just formulating information prescribed to us from text, and chatter picked up on the blockchain, and handing that data over to you when we feel it necessary. You can get the full releases here and back issued calls as well below…..

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No one really knows what is going to happen to crypto by tomorrow, next week and next year 2019. After all, longevity has increased dramatically over the past couple of decades, which means we need our money to last longer than ever. So if that is the case, taking all your money out of the bank, and putting every cent into crypto would be the most stupidest thing you could think of, and setting you up for pure devastation down the track.

Sure the bitcoin could be a nice way to bolster your nest egg, short term and even longer term, but one should always put money into something like this, that would be income that is disposable. Meaning, money you can afford to lose on any given day.

If you are one of the people who already got rich in bitcoin, congratulations! We have been in for many years and done well. But let me tell you, this is the wild west, and crypto is just getting started. If you cannot stomach the big drops and big risks along the way, you need to get out of this game immediately. The amount of hacking, theft, and security breaches we have seen since the start is worse than what is was back 5 years ago. That being the case, we cannot tell you what to do with your money, this is a risky investment and we would hate to see you put you and your families financial future at risk by playing this game.

So our warning to you today is, yes, bitcoin is a high risk high reward game. Do not be tempted by the fact you can get rich over night. While I wish you nothing good luck and fortune the chance of this actually happening, is almost nil. Once you let this sink in you will release that lot of people are not seeing this as an investment but as a way to get rich quick! DO NOT THINK THIS! I can assure you that is not the case, we take this game day by day as a new tech and new way to buy and sell without physical money is born.

This feels like the dot com boom all over again. Yes, we see a time coming where some coins just wither away into the morning breeze, into nothingness, and if you do not jump in the right coins, at the right time and know when to get out, it could set yourself up for total financial inhalation. The bots in the blockchain have already hinted that, and this is our warning to you today!.

We will continue to help you along your investing career, because we feel this is the greatest time to be alive in terms of a new shifting dynamic in the investment world. Bitcoin just being one of them. We believe that making money is good, and getting rich is even your birthright, but you need to understand the risks in this game before getting involved and hopefully we have done that for you today!

More updates coming….

Have a great day.

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