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/biz/ - Business & Finance

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656328 No.656328 [Reply] [Original]

Is it too late to buy bitcoin and cash in in a few years time?

>I don't make that much money, but I could afford to dump in around 75 dollars every two weeks, starting tomorrow.

>> No.656332

>>656328
Silly you

>> No.656360

>>656328
>n't make that much money, but I could afford to dump in around 75 dollars every two weeks, starting tomorrow.
>>>
do it, faggot.

>> No.656374
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656374

Not too late. Go for the moon anon.

>> No.656442

>>656328
>I don't make that much money

You don't say

>> No.656474

>buy $75 worth of bitcoin
>cash in in a few years time for $.75

>> No.656499

>>656328
If you're asking that question here it's already too late. If you're lucky you might get your money back but you won't become rich or be able to retire early.

>> No.656613

>>656328
If you don't have a lot of money, I would argue it's a terrible idea to put your money into Bitcoin. You would be doing nothing but speculating (gambling).

If you believe the talk of the Bitcoin proponents, Bitcoin is nothing but money with a technology backing. But ultimately, it is money. By buying Bitcoins, you're in a sense trading currencies. Money sitting in a mattress does not gain purchasing power. A well-run currency will maintain purchasing power and maybe have periods of overvaluation.

Your purchase of Bitcoins would be counting on another period of overvaluation, assuming Bitcoin is not already overvalued. None of the power-that-be hold Bitcoin so, no, it's not Gold 2.0 as some people claim either.

You would be best off investing that $75 every two weeks into diversified, low-fee index funds. While I believe the markets are currently overvalued, at least your money will be invested in profitable businesses that will pay some of their profits out as dividends and likely grow. Be steadfast in your contributions, do not stop contributing just because the market has gone down. Do this for years on end and you are almost guaranteed, to make a profit and have increased the purchasing power of your invested money.