"I'm not planning on taking money out on a daily basis to live off of — I have a job for that," Ingram said. "This is for the long term. It's basically taking all of my savings so far and putting it towards it. It is a little risky, but I'm young."
Sounds like he knows what he is doing, so I am confident he will be fine.
But they're almost 40. They aren't so young that losing their life savings will have no impact.
I don't write any of this to criticize them. And I realize they could still see a positive ROI on the money they've spent. For me, their story sort of humanizes the whole thing. It's easy to look at this as just a bunch of abstract people losing money.
We'll see how it all works out. Between the time I wrote my first post and the time I'm writing this one, the price of Bitcoin has jumped from 7600 to 8300. Too volatile for me, but I'm sure someone, somewhere is having fun.