So one of my relatives wants to buy bitcoins with about more than 75% of their savings...

so one of my relatives wants to buy bitcoins with about more than 75% of their savings. Is there anything I should know about before pulling the trigger? or any advice?

Depends on how much money it is and whether this person has responsibilities like being a parent.

Is bitcoin all of a sudden becomes illegal, drops 50%, or if they just happened to fuck up by sending it to a non-existant address would it destroy their life...?

aka are they investing money they can afford to lose? Do they already have an emergency fund and their other finances in check? Are they willing to actually do this research themselves as opposed to letting an artic fox user on a cantonese basket weaving forum do all the research for them?

like most of their money, $50k, yeah its a parent.

they sound dumb as hell

50% on the top10 50% gamble alts

wait for it to dip back to 5k or somthing

nah they won't be trading, just byuy btc and leave it in a wallet, wait long term for it to grow in price. No trading.

did you convince them to buy?
if you did and this shit drops they will kick you out of the basement.

No I just told that person, I told them the risk that it might drop to 0 and she could lose everything

I'm a huge bull on the bitcoin price and invested a sizable amount but I'm not convinced that it's a good idea to put 75% of that into bitcoin under these circumstances. Maybe 50% and pretend that all this money is lost. Seriously, this is kinda irresponsible. I don't know.

kek literally asking the parent to buy BTC near the fork. once the fork ends this shit is going down down down.

>once the fork ends this shit is going down down down.
As in the case of BTG? You will be very, very surprised.

What should they do then? They're old and want to stop working, they're tired of working and want money.

Buying at ATH is fucking retarded

Amazon and Microsoft accepts BTC as a valid means of exchange though

how many btc can they afford?

Its around $50000, most of their money...

More worried about the Segwit2x fork

Tell them that their first lesson in buying BTC is patience and to put their money into Coinbase via USD deposits. So that when BTC crashes 30% after S2x they can buy 30% more BTC.

> Buying at ATH is fucking retarded

BTC is almost always at ATH, that's how it gains 600% in a year

don't buy $50k of a shitcoin that's being pump and dumped

Wtf are you talking about? the major fork that caused the price to rise is Segwit2x. People just got out of alts early to get BTG since theyre going for Segwit2x in a few weeks anyway.

Tell your relative not to invest money they can't afford to lose.. If they're going to put money into bitcoin, then they should prepare to lose it all. Otherwise they're just setting themselves up to get fucked.

Not saying bitcoin is a bad investment, but the risk is real. Anything could happen. Never invest money that you can't accept losing.

most OG traders seem like they're calling the top on bitcoin soon lol, seems fitting that someone is going in hard with their life savings near the same time people are starting to cash out

she's PROBABLY going to get fucked super hard user, just saying

but its her problem, so my recommendation for you is get hardware wallets and learn how to back them up to keep your shit safe.

No I mean I don't have to get her to invest into BTC right away, it could be anytime. Like after it goes down in price