Quote from: BitPirate on November 25, 2013, 09:01:09 AM

There is some extremely irrational investing advice in this forum, be careful.

Bitcoin has a very high potential upside. This galvanises people and turns us all into dreamers. We see people getting rich and want it too. A very high potential upside.

However it is also insanely risky. There is no law that states that Bitcoin will keep going up. In fact, it will go in the direction that will benefit the people who are already rich the most. If price outstrips adoption, price rises will not be exponential for a while.

Now, for most people, it is wise to take on high-risk investments. When you put the money in you accept it as lost, a sunk cost. If you are lucky, that pays off handsomely. It's a great idea. But the key is, you have to write off that initial investment.

For you, it is not -- the money was not yours, and you can't afford to lose it. You're in no position to write it off -- it was theft. You certainly can't take those decisions on behalf of others. In fact, your college is much more important, and many other opportunities will come in life.

You must also understand that easy riches is not the opportunity here. In life there are far more important opportunities that will make you into a person you can be proud of.

At this stage, if you are staying in due to potential greed, I'd advise you to liquidate some of your principal soon, and eventually keep only the BTC with which you could buy with profit. This will be very painful, especially when you see it go up, but it is wise to be careful when everyone else around you is greedy. Seeing all the responses here, I think you can judge for yourself, regardless of your age. These people who are so eager to see you buy now, will sell when the shit hits the fan. And they'll do it before you.

I couldn´t write it better. Thank you.

Now, for most people, it is wise to take on high-risk investments. When you put the money in you accept it as lost, a sunk cost. If you are lucky, that pays off handsomely. It's a great idea. But the key is, you have to write off that initial investment.

Young man, people on these boards are not evil. But neither are their your friends. Remember that when asking how to manage money of your family.