Quote from: bitart on December 16, 2017, 09:51:48 PM

Quote from: hahahafr on December 16, 2017, 09:40:12 PM

My dad owns a few bitcoins, now he told me a few days ago that he is looking to sell his house in order to buy bitcoins, i told him that he was insane.

No one knows if bitcoin is going to crash or not, but risking a house is something very DIFFERENT from investing a few hundreds or thousands.

If you are looking to invest less than $10000, then do it, there is nothing to loss in there, you can easy recover $10k in a few months.

But if you are going to put all your life savings in here, do not do it, you are going to run with a huge risk.

If he already owns a few bitcoins, there can't be a real need to invest more and more, and risk the house and everything he has gathered. But, if he has a few houses, it can be a wise decision. Anyway, if he want to risk it, and he can afford to risk it, then risk it. He has 50% chance to win and to lose... In my opinion the way forward for the price is still up, but there could be some bumps on the road now, there won't be an easy ride... There are too many people investing now and fees are high, mempool is full. If LN starts that could help a lot, until then, we need to be careful...

Maybe after seeing a bitcoin jump this year of approximately 2k%, your father's mind becomes open and intends to sell the house and invested in bitcoin. If bitcoin really does go up, and that's what people predict, he'll get 2 or more houses after investing in bitcoin, but if not, at least he can still buy a worse home from now. I think that's what he's thinking.