He probably shouldn't be investing everything he has into anything because there are always risk in not diversifying.  He might look at it more like a long term game and figures it will pay off for him in 6 months to a year.  But who knows.  The strategy I'm using is building from nothing on here.  Just the $10 free steem power and then I'm putting up a lot of good post.  Here is my latest.  I just made a post about this.  Please consider upvoting me.  I just upvoted you!  https://steemit.com/steem/@brianphobos/linux-distributions-aren-t-confusing-but-crypto-forks-are-why-is-that

Well life is full of gambles right.  I personally lost 2k in HashOcean and if I had it to do over I would rather have invested it in Steem Power.  That's my 2 cents :)

I've seen this so many times before. Only invest what you can afford to lose. Crypto is volatile and what is mooning today could be cratering tomorrow.

Your friend has gambling problem.

bad news for you, steem power cannot be cashed out just like that

More power to him! Keep Steeming #steem

I think he is doing a risky move, but in the crypto world you never know, maybe there is another jump of 10x and he can then cash steempower for 2 yrs straight. I trust in Steem, really, like I trusted BTC back in 2013.

Yeah would be concerned with anybody putting any money they really can't afford to lose into any crypto coin/asset/platofrom including BTC. It's all high risk/reward. I totally get the excitement, pretty sure all of us here do except the trolls and people hired to spread FUD and cause divisions and fighting of course. Sometimes when someone has decided there is no reasoning with them, so here is to his success I hope. I certainly am not all in, I have a diversified crypto spread I think. But If you're luck lands on the side of reward and not risk when you want to cash out, then the all in people will gain the most. If not, they may lose everything. I would just say my personal experience is one of seeing lots of unforseen events taking place in this space. Sometimes good, sometimes bad. Recently I invested in ETH and the DAO, lots of hype around the DAO. They were the darling of the alt news. The code was supposed to be safe, was audited by a respectable crypto auditing company. And then as soon as it came it went. Hard fork saved DAO investors funds for now, but tha's another story. You never know what is going to happen around here. Anybody that tells you they do, is most likely ignorant. Good luck to us all!!

What could go wrong!?

you're friend is getting real wealthy while you're just stay poor! i can see the envy

I consider your views to be pessimistic, whereas I am more optimistic about this. Yes I do see inequality, and I do see others things which might raise the red flag. But I have not seen a behavior in the community, and the management, which gives me cause for concern. This thing is in beta and I think we owe them patience. Especially after they invented something which might change the world.

There are a lot of people like your friend that invests in steemit, that's why i think steemit will not fail in the short term. Just be optimistic.

Wow! He tied up his life savings in Steem Power. That's crazy! There is a good chance it could be worth nothing in 2 years when the cash out is complete. What's sad about it is that he has kids.

Any money I invest in crypto I assume is gone and then I'm pleasantly surprised if I turn a profit. You never know in this space. *Many have been burned before.*

Hope it works out for him.

Its never a good thing to have all of your asset in one single investment. So your friend should diversify. But I'm bullish on Steem and try to convince anybody to convert the SteemDollar they get from votes fully in SteemPower to help Steemit become a mega success. Read my article if you like: https://steemit.com/steemit/@capitalism/5-reasons-why-you-should-power-up-your-steemdollars-smd-to-steempower-sp

**"STEEM is created out of thin air everyday to pay for posts"**

Yes, and bitcoin is created out of "thin air" every 10 minutes to pay for mining. So?

In one year from now a very likely scenario would be  that you will hit your head to the nearest wall you find  after you check out your friend's wallet!

https://i.imgsafe.org/685d7b6c7c.jpg

Sometimes it's perfectly OK to take a risk with something you value. Let us create a new economy together.

Diversify is my strong suggestion

All In are every time a big risks, in every type of business. I hope your friend could earn a good amount of real dollars :)

<p><strong>Welcome </strong>to the Steemit community! I have added you to my list of people to follow and I hope that you will do the same.</p>
<p>I have also created a blog here and would like to ask if you would kindly <strong>contribute </strong>some of your <strong>knowledge </strong>to the <strong>community </strong>and perhaps <strong>answer a question</strong> or two I have posted on the links below.  </p>
<p>By simply answering a few general questions your help to build our <strong>collective knowledge base</strong>, and your input is valuable.</p>
<p><strong>How valuable is my input?</strong>  Well answers to the questions you post have the opportunity to earn <strong>STEEM </strong>which can be converted into Bitcoin and then your countries local currency!  <strong>IT IS TRULY AMAZING!</strong></p>
<p><strong>I once answered a question on here and received 59 STEEM which converted to roughly $177.00 in USD!  </strong> The reason was that my answer was of value to readers!  So please add your value and answer a few questions here:</p>
<p><a href="https://steemit.com/questions/@question-answers/what-should-every-foreigner-know-about-your-country">What should every foreigner know about your country?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-your-favorite-youtube-video-of-all-time">What is your favorite YouTube Video of all-time?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-your-favorite-quote-which-quote-inspires-you">What is your favorite quote: Which quote inspires you?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/payout-timer-when-do-you-get-paid-for-your-contributions">Payout timer.  When do you get paid for your contributions?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-the-role-of-religion-or-spirituality-in-your-life">What is the role of religion or spirituality in your life?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-the-best-habit-you-ve-taken-up-from-another-person">What is the best habit that you have taken up from another person?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-the-best-way-to-lose-weight-tell-us-how-you-did-it">What is the best way to lose weight and how did you do it?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-would-you-do-differently-if-you-knew-nobody-would-judge-you">What would you do differently if you knew no one would judge you?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-are-some-amazing-facts-that-sound-like-bs-but-are-actually-true">What are some amazing facts that sound like BS but are actually true?</a></p>
<p><a href="https://steemit.com/questions/@question-answers/what-is-the-best-music-video-of-all-time">What is your favorite music video of all time?</a></p>
<p><strong>YOUR CONTRIBUTIONS MATTER!  YOUR ANSWERS MATTER!  YOUR QUALITY ANSWERS PAY!</strong></p>
<p> #QUESTIONS #ANSWERS #CONTRIBUTE #TELLYOURSTORY #DISCUSS #VIVASTEEM </p>
<p><br /></p>