Title: Bitcoin is risky Post by: Reatim on August 19, 2024, 02:15:14 AM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not.
Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Title: Re: Bitcoin is risky Post by: balotelli on August 19, 2024, 03:33:14 AM Sure, Bitcoin might be risky, but have you ever tried letting a Tesla drive you around in autopilot mode? Now that’s a thrill ride! Or how about sitting on a Boeing 737 and realizing that sometimes even the skies have their surprises? Compared to that, Bitcoin’s volatility is just a little spice in the investment soup. At least with Bitcoin, you’re in the pilot’s seat—no autopilot required!
Title: Re: Bitcoin is risky Post by: SquirrelJulietGarden on August 19, 2024, 03:44:39 AM He was confused at first because he heard that it was unstable and risky. You can enlighten him more by telling him that fortunately, with time, Bitcoin has less volatile price than past years and previous market cycles.Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. https://pbs.twimg.com/media/GIQMDJCaQAAeBCM?format=png&name=medium Correction drawdowns in Bull markets become smaller with time. https://studio.glassnode.com/workbench/bf532ce2-a66b-4798-6deb-bf3ba7decc59 Title: Re: Bitcoin is risky Post by: Darker45 on August 19, 2024, 03:55:51 AM I remember the story of the six blind mean describing an elephant by touching it. One describes it as like a tree, the other as like a wall, the other rope, snake, and so on because each of them was touching a different part of the animal. They were all right though, but their description was limited.
If I say Bitcoin grew from a hundredth of a cent to $74,000 in just a decade and a half, that's true. That's thousands and thousands of percentage in growth. And people might be immediately amazed at what it did and jump right into investing in it. But while true, that's limited. Because, on the other hand, Bitcoin had also lost 30%, 50%, 80%, even 99% of its price in a matter of mere hours and days. This is also true yet, again, limited. If one is to emphasize this, however, many might decide not to invest in it. So, I guess the most important thing is to provide them with the complete picture. There's risk and there's also reward. There's always rise and fall. There's always joy and sadness in any market. Title: Re: Bitcoin is risky Post by: OcTradism on August 19, 2024, 04:00:48 AM If I say Bitcoin grew from a hundredth of a cent to $74,000 in just a decade and a half, that's true. That's thousands and thousands of percentage in growth. And people might be immediately amazed at what it did and jump right into investing in it. But while true, that's limited. Because, on the other hand, Bitcoin had also lost 30%, 50%, 80%, even 99% of its price in a matter of mere hours and days. This is also true yet, again, limited. If one is to emphasize this, however, many might decide not to invest in it. Rather than convincing them with your explanation, you can give them this link to Bitcoin & Traditional Assets ROI (vs USD) (https://casebitcoin.com/charts) with a table for ROIs of Bitcoin compares to Gold, S&P500. If they need visualization, you can introduce the ROI chart (https://casebitcoin.com/charts#roi_chart).Both resources are helpful for them to see good ROI of Bitcoin with time, historically but if they can see smaller ROIs of Bitcoin in recent years. With time, Bitcoin has higher price and bigger market cap, so as explainable by financial rules, its ROI must shrink and become smaller. Title: Re: Bitcoin is risky Post by: Darker45 on August 19, 2024, 04:27:39 AM If I say Bitcoin grew from a hundredth of a cent to $74,000 in just a decade and a half, that's true. That's thousands and thousands of percentage in growth. And people might be immediately amazed at what it did and jump right into investing in it. But while true, that's limited. Because, on the other hand, Bitcoin had also lost 30%, 50%, 80%, even 99% of its price in a matter of mere hours and days. This is also true yet, again, limited. If one is to emphasize this, however, many might decide not to invest in it. Rather than convincing them with your explanation, you can give them this link to Bitcoin & Traditional Assets ROI (vs USD) (https://casebitcoin.com/charts) with a table for ROIs of Bitcoin compares to Gold, S&P500. If they need visualization, you can introduce the ROI chart (https://casebitcoin.com/charts#roi_chart).Both resources are helpful for them to see good ROI of Bitcoin with time, historically but if they can see smaller ROIs of Bitcoin in recent years. With time, Bitcoin has higher price and bigger market cap, so as explainable by financial rules, its ROI must shrink and become smaller. My point is that the intention is to either inform and educate or convince somebody. With the former, there's the complete picture. With the latter, there's bias. By presenting him/her the ROI chart, for example, the intention is probably to entice or attract him. He/she might be convinced and buy. However, in the process, you might have missed preparing him/her of the possibility or even eventually of Bitcoin losing big time in a very short period of time or a severe and continuous correction which needs years to recover. Many people have quit Bitcoin after losing patience, after being disappointed and frustrated repeatedly, and so on. It's probably because they were conditioned to expect only the good moments. In reality, there aren't only good days; there are also bad days. Title: Re: Bitcoin is risky Post by: Luzin on August 19, 2024, 04:43:21 AM Rather than convincing them with your explanation, you can give them this link to Bitcoin & Traditional Assets ROI (vs USD) (https://casebitcoin.com/charts) with a table for ROIs of Bitcoin compares to Gold, S&P500. If they need visualization, you can introduce the ROI chart (https://casebitcoin.com/charts#roi_chart). Indeed, the advantages provide a major attraction for Bitcoin. But remember there's an underlying technology, and that's also very important. For those who do not have mental and emotional control, Bitcoin investment will be a headache. Bitcoin investment requires more knowledge, as it relates to a wide range of Technology. Bitcoin will be a difficult investment for people who do not have the knowledge of today. In contrast to real investments such as property, gold, and land. Title: Re: Bitcoin is risky Post by: serjent05 on August 19, 2024, 04:44:48 AM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. It is a good thing that your friend consulted you about what he heard about Bitcoin. Bitcoin is indeed unstable and risky but beyond this being unstable and risky lies great opportunity. Despite the good liquidity, we know that Bitcoin is highly volatile because of its market maturity. Bitcoin is still discovering its price and due to its designed system (block halving), intensifies its speculative market. I agree that cryptocurrency is something worthwhile but we should do our best to research any cryptocurrency project we are interested in because most of them are created just for money grab. If we have to choose the safest cryptocurrency investment, Bitcoin is leading by a mile. My point is that the intention is to either inform and educate or convince somebody. With the former, there's the complete picture. With the latter, there's bias. By presenting him/her the ROI chart, for example, the intention is probably to entice or attract him. He/she might be convinced and buy. However, in the process, you might have missed preparing him/her of the possibility or even eventually of Bitcoin losing big time in a very short period of time or a severe and continuous correction which needs years to recover. I can't agree more, it is better to educate people than convince them with the profit hype. With giving the right information, we don't have to convince people into investing in Bitcoin. People can decide themselves after seeing the history, data and market swings of Bitcoin market. This way, we can keep ourselves from the troubles and blame of people. It is their money, they decide what they see fit for them. Many people have quit Bitcoin after losing patience, after being disappointed and frustrated repeatedly, and so on. It's probably because they were conditioned to expect only the good moments. In reality, there aren't only good days; there are also bad days. True! These people could have been holding on to their precious BTC if they were well informed. But because people who convinced them show only the good side, these people are shaken when bad things happens. Title: Re: Bitcoin is risky Post by: Wind_FURY on August 19, 2024, 05:10:41 AM OP, if I had such a friend I would ask him, "Risky?", then I would show him two graphs,
Bitcoin zoomed to the maximum graph, https://bitcoin.zorinaq.com/price/ The U.S. Dollar's value zoomed out graph from 1635 to 2020, https://www.statista.com/statistics/1032048/value-us-dollar-since-1640/ Leave, then let him decide if he's willing to take the trade-off of protecting himself financially by adopting Bitcoin as a back-up, fall-back in case the legacy financial system goes through a serious crisis and possibly crashes. Title: Re: Bitcoin is risky Post by: Hatchy on August 19, 2024, 05:51:15 AM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Just like everyone has already said, Bitcoin is volatile. volatility is a better word to describe the market. Something risky is something that's not to be trust as it could either be scam or a scheme of which Bitcoin isn't any. This is more reason why people should try their best to carry out enough research before investing on any new ideas they were introduced to. Sometimes it's their mindset that is actually wrong. They hear Bitcoin and think that they can become rich over night. That's not how it works. You can educate them about Bitcoin and tell them the difference from altcoins. Compared to Bitcoin, altcoins are more volatile in nature. 1% price dip in Bitcoin is a 100% for altcoins. Title: Re: Bitcoin is risky Post by: FinneysTrueVision on August 19, 2024, 05:52:07 AM If you only see Bitcoin as an investment then there is some risk involved. Independently of its financial value, Bitcoin’s values of decentralization and sovereignty make it a strong form of money that make people desire it and want to hold it. Even if you have a lot of faith in fiat currency, it is smart to be invested in an alternative, like Bitcoin and maybe gold, just in case.
Title: Re: Bitcoin is risky Post by: Bd officer on August 19, 2024, 07:07:33 AM OP, it's true bitcoin is risky. But currently I don't think Bitcoin is that risky because when the price of Bitcoin falls it is seen to recover again. In 2021 the price of Bitcoin reached $69k in Bullran and the market started to fall and in 2023 the price of Bitcoin dropped to $16k. But Bitcoin price recovered and broke the highest ATH and made a new ATH. So tell your friend that holding Bitcoin for long term is not risky, you can definitely profit. Investing in Bitcoin requires planning to hold Bitcoin for the long term. Don't invest more than you can afford to lose because you can't hold for the long term. So invest DCA method as per your ability and continue DCA for long term.
Title: Re: Bitcoin is risky Post by: Frankolala on August 19, 2024, 07:14:33 AM If you only see Bitcoin as an investment then there is some risk involved. Independently of its financial value, Bitcoin’s values of decentralization and sovereignty make it a strong form of money that make people desire it and want to hold it. Even if you have a lot of faith in fiat currency, it is smart to be invested in an alternative, like Bitcoin and maybe gold, just in case. Bitcoin as an investment is risky when to u invest with a wrong mindset of getting rich quick and that is where the volatility of bitcoin will be against you. However, if you invest in a long term and hodli, you will benefit from the volatile nature of bitcoin because the price goes higher overtime.The nature of cryptocurrency is volatile and if OP's friend does not understand this, he will hardly invest in bitcoin because he is scared of losing his funds due to lack of knowledge on bitcoin and how it works. In future he might regret his actions for doubting bitcoin as a good asset to invest in. Title: Re: Bitcoin is risky Post by: fuguebtc on August 19, 2024, 07:50:05 AM If you only see Bitcoin as an investment then there is some risk involved. Independently of its financial value, Bitcoin’s values of decentralization and sovereignty make it a strong form of money that make people desire it and want to hold it. Even if you have a lot of faith in fiat currency, it is smart to be invested in an alternative, like Bitcoin and maybe gold, just in case. Bitcoin as an investment is risky when to u invest with a wrong mindset of getting rich quick and that is where the volatility of bitcoin will be against you. However, if you invest in a long term and hodli, you will benefit from the volatile nature of bitcoin because the price goes higher overtime.Personally, I will still emphasize the risks of bitcoin every time someone asks me about bitcoin because, after all, bitcoin is only 15 years old and too new to claim that it is as safe as gold or other assets. Title: Re: Bitcoin is risky Post by: Marvelockg on August 19, 2024, 08:03:38 AM If I say Bitcoin grew from a hundredth of a cent to $74,000 in just a decade and a half, that's true. That's thousands and thousands of percentage in growth. And people might be immediately amazed at what it did and jump right into investing in it. But while true, that's limited. Because, on the other hand, Bitcoin had also lost 30%, 50%, 80%, even 99% of its price in a matter of mere hours and days. This is also true yet, again, limited. If one is to emphasize this, however, many might decide not to invest in it. Rather than convincing them with your explanation, you can give them this link to Bitcoin & Traditional Assets ROI (vs USD) (https://casebitcoin.com/charts) with a table for ROIs of Bitcoin compares to Gold, S&P500. If they need visualization, you can introduce the ROI chart (https://casebitcoin.com/charts#roi_chart).Both resources are helpful for them to see good ROI of Bitcoin with time, historically but if they can see smaller ROIs of Bitcoin in recent years. With time, Bitcoin has higher price and bigger market cap, so as explainable by financial rules, its ROI must shrink and become smaller. My point is that the intention is to either inform and educate or convince somebody. With the former, there's the complete picture. With the latter, there's bias. By presenting him/her the ROI chart, for example, the intention is probably to entice or attract him. He/she might be convinced and buy. However, in the process, you might have missed preparing him/her of the possibility or even eventually of Bitcoin losing big time in a very short period of time or a severe and continuous correction which needs years to recover. As long as the person isn't ready to accept the ups and down that's associated with Bitcoin, it's best not to give him promises on the potential of Bitcoin knowing that you aren't in any position to ascertain what becomes of the investment. Many people have quit Bitcoin after losing patience, after being disappointed and frustrated repeatedly, and so on. It's probably because they were conditioned to expect only the good moments. In reality, there aren't only good days; there are also bad days. once you have a wrong start, the rest of the journey will be crooked. It's even best to hope for the worse while expecting the best as an investor so that way whatever comes along your investment journey you're better prepared to manage it.Title: Re: Bitcoin is risky Post by: AprilioMP on August 19, 2024, 08:26:24 AM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. On another occasion in the ongoing discussion, I was reminded that the use of the words crypto and Bitcoin should be clarified so as not to confuse people when reading and understanding what I mean. Bitcoin is too big that most people don't know how to process it. This sentence was conveyed by the founder of PayPal in an interview. For me it is true. Bitcoin and crypto need to be distinguished in explaining them to people. I am also not someone who fully understands the advantages of Bitcoin, but I have been increasingly convinced that Bitcoin is something extraordinary whose scope is not only limited to price. https://talkimg.com/images/2024/08/19/7vxHl.jpeg Source image: bitcoinmagazine Title: Re: Bitcoin is risky Post by: Apocollapse on August 19, 2024, 08:34:34 AM People aren't lying when they talk about Bitcoin, but influencers, motivators, economist are.
These people always sell dream, they talk about financial freedom over and over, while the reality financial freedom is very very hard to get. Even you have a lot money and you can earn from capital gains from your investment, but there's no guarantee you will not sick in the rest of your life and cost you a big amount of money to pay medical heatlh. This will make you will not able to life from your investment anymore. After all, as a human we must work until we die. Title: Re: Bitcoin is risky Post by: Majestic-milf on August 19, 2024, 08:37:58 AM Sure, Bitcoin might be risky, but have you ever tried letting a Tesla drive you around in autopilot mode? Now that’s a thrill ride! Or how about sitting on a Boeing 737 and realizing that sometimes even the skies have their surprises? Compared to that, Bitcoin’s volatility is just a little spice in the investment soup. At least with Bitcoin, you’re in the pilot’s seat—no autopilot required! Hehehehe..that's something I don't think I'd try even though it promises a lot of thrill. Bitcoin is indeed risky but what isn't? Even the life you live is risky so instead of focusing on the risks and depriving yourself of what can be achieved when you take a little of the said risk, the best thing to do is not put in all you've got, but at least a small amount. More like you're testing the waters.Recently, the issue of Bitcoin being a profitable investment came up as a discussion between some colleagues of mine and I was within earshot. I should have told them there's downsides to it too but I just left the matter at that. They should do their research about it. The first and only time I tried telling someone about it; demerits and merits, I got told it's a sign of the end time, a currency developed by the new world order and then I rested my case.😒 Title: Re: Bitcoin is risky Post by: Catenaccio on August 19, 2024, 09:22:27 AM Peter Schiff does not like this graphics.
Bitcoin is too big that most people don't know how to process it. People can learn how to store bitcoin and use it for transactions very quickly. They don't have to sit down and code but only need to choose a good wallet to use with friendly interface like they use other applications nowadays. It's easy, not big, pressure or stressful to use Bitcoin or broadcast a Bitcoin transaction.Quote I am also not someone who fully understands the advantages of Bitcoin, but I have been increasingly convinced that Bitcoin is something extraordinary whose scope is not only limited to price. Bitcoin has advantages and disadvantages and it's unrealistic to say Bitcoin has no disadvantages.The bullish case for Bitcoin (https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1) is a good book about Bitcoin and its advantages. Title: Re: Bitcoin is risky Post by: Alana Arden on August 19, 2024, 09:49:44 AM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. . Title: Re: Bitcoin is risky Post by: Son Of Blockchain (SOB) on August 19, 2024, 09:53:13 AM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. As a Bitcoin enthusiast, you should be able to defend it instead of allowing people who got litte knowledge about Bitcoin confuse you about it, the first question you should've asked your friend was, is there any investment without risk? Every investment have their own risk factor and advantages, how to be successful in any is applying the risk management involved in it and if he applys the risk management involved in Bitcoin then he would be a successful Bitcoin investor.Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Secondly the Volatility of Bitcoin is what makes it unique, most top investors would tell you that you have to love the Dip if you want to excel in it and they're right cause over the years Bitcoin has set different heights and we are yet to witness it go back to the exact price it launched with rather what you'll see is an improvement after every Dip, I don't waste much time trying to argue or convince anyone about Bitcoin anymore but time would tell and they'll be forced to love it when they've understand and seen it's benefits. Title: Re: Bitcoin is risky Post by: Dunamisx on August 19, 2024, 01:15:41 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. One of the advantages of learning to do your own research is this, that even if one was misinformed about what bitcoin is, you would have seen it elsewhere the true identity of what bitcoin is, being made different from what you have been told earlier, and seeing a repeated information about bitcoin on different platforms shows on how true it is and consistent than when you're being contrary opinion, so many people were lazy in taking their own time to make findings, instead, they prefer someone doing that for them. Title: Re: Bitcoin is risky Post by: Casdinyard on August 19, 2024, 02:31:07 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. First off, duh, a massive no-brainer to not lie against people towards your favor. Besides, there's nothing in it for you if they do invest in bitcoin, the only one's who's going to profit or lose money off of their investments is them, and only them. Secondly, there are better ways to introduce crypto to people who are indifferent or against it, but it's always preferable to just shill cryptocurrencies you trust and stand behind with to people who already had brooding interest regarding cryptocurrency, that way you can bank on that pre-existent interest, and from there work towards making them do their own research, showing them the good with the bad of investing in crypto, so they could formulate educated decisions. Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Everything is individualistic when it comes to investing in bitcoin, or cryptocurrency in general, so with that being said, let these people have their own thoughts and opinions, regardless if it is good or bad. Title: Re: Bitcoin is risky Post by: LogitechMouse on August 19, 2024, 03:04:19 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. Telling to you that Bitcoin is unstable and risky doesn't mean that he already has a bad image of Bitcoin. He's just telling the truth, and we know that Bitcoin is unstable and risky. It would be riskier if you're a newbie and you're lacking of knowledge still.Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Bitcoin being unstable or volatile can go both ways. Bitcoin's volatility can be beneficial for those who knows when to enter and when to exit and vice-versa. This is why I always say to newbies to focus on knowledge first because profits will always be there, but scammers will also be there ready to scam you, and the only way for you to prevent getting scammed is to equip yourself with information that will help you. It's good that you said to him to learn first. Some mislead the newbies unfortunately. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. I can't see any benefit from me if I will lie to people about what's cryptocurrency. I mean if there's anybody here in our community that wants to learn about cryptocurrency then I will give some of my free time to teach them. Say to them that there's risk in investing. Say to them that Bitcoin is risky, and volatile. Say to them that Bitcoin is a good investment only if you have the knowledge. At the end of the day, teaching others is very fulfilling, isn't it? :DTitle: Re: Bitcoin is risky Post by: TheUltraElite on August 19, 2024, 03:32:06 PM I get asked about crypto from friends and family and I maintain a neutral stance in it even though I am a bitcoiner myself. I understand that my mentality is different from theirs and they would not be able to get through the amount of new information needed to process to start into the bitcoin investment journey.
Hence I explain the pros and the cons and show them how its done. I never give opinions as to what is good or bad, rather I explain the scenarios. The types of scams happening in crypto and how to keep themselves safe. I would also like to point out that most people get put off by such discussions, they just want quick bucks and hence I dont any of them actually putting money in crypto at the end of the discussion but only keeping themselves to traditional assets. Title: Re: Bitcoin is risky Post by: Hyphen(-) on August 19, 2024, 04:05:47 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Do you think the explanation you give your friend is right?I think he was not interested because of how you made him feel about the price of Bitcoin. Even though the Bitcoin market is volatile and unstable, Bitcoin investment is not bad because if your friend is not looking for a place to get quick money, he/she can invest their savings in Bitcoin for future reference. Convincing someone to join Bitcoin is not necessary, just explain to them how it works and give them reference materials for their research, they will decide if to go with financial freedom or to keep given banks their money. Title: Re: Bitcoin is risky Post by: knowngunman on August 19, 2024, 04:07:31 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. Knowing that the bitcoin price is unstable and risky a bad image about bitcoin? Isn't that the truth and reality? I see nothing to defend here but to build your explanation on that. I think it would be very easy for you to school your friend about bitcoin since he already has a little knowledge of how risky and unstable it can be. There's no point saying otherwise just to woo people to fall in love with bitcoin. Anything that deals with finance should be left for people to decide themselves whether it is worthy for them or not. Unless it is with like minds, I don't see any usefulness engaging with those who have no idea about cryptocurrencies talk more of feeding them with lies unless it's for learning purpose. Title: Re: Bitcoin is risky Post by: aoluain on August 19, 2024, 05:17:56 PM For me its a matter of perspectives.
If someone is looking to buy Bitcoin and make a profit within say 6 months, well I say that is risky If someone with no experience is looking to start trading Bitcoin, thats risky If someone is looking to sell everything they have to buy Bitcoin and HODL for a year or two, thats risky If someone is looking to buy Bitcoin and HODL for the long term, I dont see that as risky. If someone is looking to sell everything they do necessarily need to buy Bitcoin with a medium to long term outlook, thats not risky to me. He was confused at first because he heard that it was unstable and risky. You can enlighten him more by telling him that fortunately, with time, Bitcoin has less volatile price than past years and previous market cycles.Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. https://pbs.twimg.com/media/GIQMDJCaQAAeBCM?format=png&name=medium Correction drawdowns in Bull markets become smaller with time. https://studio.glassnode.com/workbench/bf532ce2-a66b-4798-6deb-bf3ba7decc59 The chart by SquirrelJulietGarden shows the difference between short term and long term Title: Re: Bitcoin is risky Post by: Zaguru12 on August 19, 2024, 05:28:33 PM Knowing that the bitcoin price is unstable and risky a bad image about bitcoin? Isn't that the truth and reality? I see nothing to defend here but to build your explanation on that. I think it would be very easy for you to school your friend about bitcoin since he already has a little knowledge of how risky and unstable it can be. Yes there is no denying the fact the bitcoin price is unstable and risky but i think i utterly understand why the OP needed to defend it probably it would be how the risk was actually been portrayed by the friend. There is absolutely nothing risk free, let’s take for example the most soughted metal which is Gold, isn’t Gold Also volatile, but what’s the degree of its volatility? Now isn’t Altcoin also risky? They definitely are risky too but to what certain degree?. Now the degree of bitcoin volatility is most at times overemphasized mostly by fudders and this could be the discussion OP’s friend might have drawn it to. Although I would have left him to make is financial decisions but there some clarity that should be made when discussions like this arises so that potential investors do not get the wrong narrative, clearing the air while stating the fact is different from urging someone to invest in it Title: Re: Bitcoin is risky Post by: Jewan420 on August 19, 2024, 05:31:35 PM Knowing that the bitcoin price is unstable and risky a bad image about bitcoin? Isn't that the truth and reality? I see nothing to defend here but to build your explanation on that. I think it would be very easy for you to school your friend about bitcoin since he already has a little knowledge of how risky and unstable it can be. There's no point saying otherwise just to woo people to fall in love with bitcoin. Anything that deals with finance should be left for people to decide themselves whether it is worthy for them or not. Unless it is with like minds, I don't see any usefulness engaging with those who have no idea about cryptocurrencies talk more of feeding them with lies unless it's for learning purpose. Not to deny your point completely. Bitcoin is risky and harmful in many ways. But I don't see any reason to call it risky for everyone. If you trade or gamble with Bitcoin then Bitcoin is definitely bad for you. Bitcoin is risky because its value can never be volatile. Unstable conditions bring opportunities for the wise. Can you name one thing whose price is stable? Everything is priced more or less unsustainably. Gambling is always risky and sometimes leads to huge losses. But if you can use Bitcoin properly then its volatile price will not affect you. You need to know about this and inform those who have negative thoughts about Bitcoin. This is all I can do to change their negative thinking about Bitcoin. If you hold Bitcoin long-term with DCA method, I can most guarantee that you will not be affected by the volatile price of Bitcoin and it will not be risky for you. Experts will advise you not to over invest money that you will need in the future or at any time. That means investing with money that you won't incur huge losses by losing. So proper use of Bitcoin is not risky. Gambling with Bitcoin is risky, investing is not. Title: Re: Bitcoin is risky Post by: passwordnow on August 19, 2024, 05:55:19 PM There is no need to lie to people about crypto or explaining to them what Bitcoin is all about. To be honest, I am done with that era and when I was so vocal to anyone, friends, family, relatives and anyone that I talk to about Bitcoin, I was too talkative about it personally. But when I have realized that all of those efforts and talks that were initiated to me, it seems that it has became vague.
IMO, if you are too happy to talk about it in the public forum or someone whom you want to talk to, there's no need to lie. You tell all that you know or at least the basics that you're willing to share. But it is best to still be careful and avoid talks about how much you are holding because that's most of them are interested are. They all want to listen how much you are holding but when you ask them if they're going to invest, they'll shut their mouths. And as another precaution, you don't open how much holdings you have to avoid being attacked with a $5 wrench attack or any kind of physical attack. Title: Re: Bitcoin is risky Post by: AprilioMP on August 19, 2024, 05:57:41 PM Bitcoin is too big that most people don't know how to process it. People can learn how to store bitcoin and use it for transactions very quickly. They don't have to sit down and code but only need to choose a good wallet to use with friendly interface like they use other applications nowadays. It's easy, not big, pressure or stressful to use Bitcoin or broadcast a Bitcoin transaction.With so many wallet options available that we can use after going through the research process, for us, dealing with technical matters such as transactions has become a common thing to do while getting to know Bitcoin. Meanwhile, the process that you convey is the ease of using Bitcoin, if you choose the wrong wallet, then what we feel is an ease can become a problem. I am also not someone who fully understands the advantages of Bitcoin, but I have been increasingly convinced that Bitcoin is something extraordinary whose scope is not only limited to price. Bitcoin has advantages and disadvantages and it's unrealistic to say Bitcoin has no disadvantages.I think the disadvantages of Bitcoin are almost non-existent even though they exist, although you also need to describe where the disadvantages are according to your knowledge. Bitcoin is almost perfect in my opinion. Title: Re: Bitcoin is risky Post by: Die_empty on August 19, 2024, 06:12:10 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. Bitcoin and altcoins are not the same. It will be good to always differentiate between Bitcoin and altcoins when you are discussing crypto. I had to bring this up because your topic said, " Bitcoin is risky", but you are discussing crypto in the post content.Quote Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. There is nothing to gain from lying about Bitcoin except you have the intention of benefitting from the person's investment in the sector. People should be told the true nature of crypto investment so that they can make the decision of investment or not. Bitcoin might be a risky investment but I think the profit is worth the risk. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Title: Re: Bitcoin is risky Post by: BABY SHOES on August 19, 2024, 06:27:16 PM Rather than convincing them with your explanation, you can give them this link to Bitcoin & Traditional Assets ROI (vs USD) (https://casebitcoin.com/charts) with a table for ROIs of Bitcoin compares to Gold, S&P500. If they need visualization, you can introduce the ROI chart (https://casebitcoin.com/charts#roi_chart). Indeed, the advantages provide a major attraction for Bitcoin. But remember there's an underlying technology, and that's also very important. For those who do not have mental and emotional control, Bitcoin investment will be a headache. Bitcoin investment requires more knowledge, as it relates to a wide range of Technology. Bitcoin will be a difficult investment for people who do not have the knowledge of today. In contrast to real investments such as property, gold, and land. If they invest by having a basis of knowledge then he can last a long time even though the price drops he believes bitcoin will go back up after seeing many diagrams of the increase from the beginning until now so that it can distinguish from other assets. Whereas they do not have basic knowledge, what exists is a lot of doubt and even anxiety for fear that bitcoin has no value anymore. Title: Re: Bitcoin is risky Post by: Furious 7 on August 19, 2024, 06:38:26 PM There are many wrong assumptions from beginners who really want to be in crypto but are not willing to take all forms of risks faced because the initial mindset about the views of some laymen and beginners about crypto is that they can get money instantly without any risk of loss. This is a common thing from the thoughts of some people because they always peg that bitcoin is a source of wealth quickly.
This is what must be improved in terms of mindset, especially when there are several colleagues or people around us who ask about bitcoin, we must strive to be someone neutral by providing input that bitcoin is definitely profitable if we can follow the process but on the other hand we also have to tell that this is a situation full of risks because we could lose the money we have when we are in bitcoin but do not know what bitcoin is like in terms of risk. An understanding of the risks must be given from the start so that those who want to be in bitcoin understand that this will not be easy and if they have half-hearted intentions then it would be better not to be in it so as not to make them feel deceived by the false expectations they create themselves in the end. Title: Re: Bitcoin is risky Post by: darkangel11 on August 19, 2024, 07:36:33 PM It is volatile, but that's what an open market looks like. If you ever get asked about this tell the other person that stock market is not free. It's governed and manipulated and if people want to sell too much, they come and shut it down, not allowing you to trade at all. Bitcoin is not like that, it doesn't get shut down when it loses 10% in a day.
You're never forced to sell, just as you are not forced to buy. When the price doesn't feel right, just wait until it gets better. It always does! Title: Re: Bitcoin is risky Post by: Baki202 on August 19, 2024, 09:32:27 PM One of the advantages of learning to do your own research is this, that even if one was misinformed about what bitcoin is, you would have seen it elsewhere the true identity of what bitcoin is, being made different from what you have been told earlier, and seeing a repeated information about bitcoin on different platforms shows on how true it is and consistent than when you're being contrary opinion, so many people were lazy in taking their own time to make findings, instead, they prefer someone doing that for them. Learning is the best you can do that can actually be of help to you, because you can not be empty headed and the only way you can know what you are doing is to have knowledge, what you hear about bitcoin is different from what people hear so when you have the knowledge, and when the knowledge is embedded in you that way you will be able to know things to avoid because their is a lot of risk when it comes to investing in bitcoin so the earlier the best you are fully aware of what you are doing. And their are people that enjoy deceiving people about bitcoin just because of the benefits they will get from it, either they want to collect money for tutor it will definitely be something they will benefit from, but if you have your own knowledge nobody can mislead you no matter what so knowledge is very very important, because it is when you don't have the knowledge you will fall victim of so many things. Title: Re: Bitcoin is risky Post by: Ojima-ojo on August 19, 2024, 09:42:32 PM The risk in Bitcoin is a positive risk, and for sure Bitcoin is one risk that I can gladly introduce to anyone because, the only people that don't benefit from Bitcoin are those that take Bitcoin for short term and get rich quick scheme, all this have no place in Bitcoin and at such everyone should avoid making Bitcoin investment based on urgency or pressure for financial gain's.
Let not get things twisted, Bitcoin if for any reasons get to 0.99 cent today, and you did not sell, you have the faith that the price will still recover back to normal a d even go ATH. Title: Re: Bitcoin is risky Post by: Nothingtodo on August 19, 2024, 10:44:39 PM It is known that investing in Bitcoin is completely risky, yet people invest in Bitcoin with risk. Even when you go for motorcycle driving but in a very risky environment if you get into an accident your life can be at risk. Similarly, to achieve anything in life, one must go through risky actions or else you cannot achieve success.
Title: Re: Bitcoin is risky Post by: CryptoHeadlineNews on August 19, 2024, 11:55:38 PM Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Title: Re: Bitcoin is risky Post by: Reatim on August 20, 2024, 12:32:44 AM If I say Bitcoin grew from a hundredth of a cent to $74,000 in just a decade and a half, that's true. That's thousands and thousands of percentage in growth. And people might be immediately amazed at what it did and jump right into investing in it. But while true, that's limited. Because, on the other hand, Bitcoin had also lost 30%, 50%, 80%, even 99% of its price in a matter of mere hours and days. This is also true yet, again, limited. If one is to emphasize this, however, many might decide not to invest in it. Rather than convincing them with your explanation, you can give them this link to Bitcoin & Traditional Assets ROI (vs USD) (https://casebitcoin.com/charts) with a table for ROIs of Bitcoin compares to Gold, S&P500. If they need visualization, you can introduce the ROI chart (https://casebitcoin.com/charts#roi_chart).Both resources are helpful for them to see good ROI of Bitcoin with time, historically but if they can see smaller ROIs of Bitcoin in recent years. With time, Bitcoin has higher price and bigger market cap, so as explainable by financial rules, its ROI must shrink and become smaller. My point is that the intention is to either inform and educate or convince somebody. With the former, there's the complete picture. With the latter, there's bias. By presenting him/her the ROI chart, for example, the intention is probably to entice or attract him. He/she might be convinced and buy. However, in the process, you might have missed preparing him/her of the possibility or even eventually of Bitcoin losing big time in a very short period of time or a severe and continuous correction which needs years to recover. I have read many cases here in the forum where bitcoin enthusiasts who introduced bitcoin to other people got blamed for their own losses in bitcoin. I realized that maybe because we weren't being realistic. This is also why some people still view bitcoin or crypto as a pyramid scheme. Yes bitcoin is good and it changed my life but I also had to be careful otherwise I would have lost a lot of my money. It is not all glory days but it sure is worth sticking through the bad ones. Anyway, thank you for all the replies and I would make sure to show this to my friend if he still is curious and would want to know about bitcoin more. Title: Re: Bitcoin is risky Post by: Blitz23 on August 20, 2024, 02:06:42 AM For sure Bitcoin is risky, but that's the main reason why it is backup by stats and facts. Show your friend the recent stats of uprising gains and benefits of bitcoin it will change his life.
Title: Re: Bitcoin is risky Post by: synchronym on August 20, 2024, 02:58:00 AM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. You have explained your friend rightly because in Bitcoin investment if we invest without awareness then we cannot achieve much success through this investment. Undoubtedly Bitcoin is risky but if we can invest properly with long term plan keeping that pair in mind then surely we can achieve enough success with Bitcoin investment which will make us more interested in investing. Many new investors lose patience in a short time so we should not lose patience in a short time we should always invest patiently with a long term plan and check the market so that we do not face losses. By checking the Bitcoin market and investing with patience, long-term planning and awareness of the market, we will definitely have time to achieve substantial success for the purpose for which we invest in Bitcoin.Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Title: Re: Bitcoin is risky Post by: retreat on August 20, 2024, 03:40:48 AM Calling it riskier is also not true and I don't really agree with it, because Bitcoin only has a price that tends to be volatile but that doesn't make it risky, it is trusted and can be relied on by users. And that's why I don't like to say "Bitcoin is risky" to ordinary users, because they will see Bitcoin as untrustworthy, but I prefer to say that Bitcoin is volatile and anyone who wants to invest in it should think about the risk of investing in volatile assets.
Title: Re: Bitcoin is risky Post by: Wind_FURY on August 20, 2024, 04:05:25 AM That's actually NOT right. Gold has also been going up, but a much slower speed, with much lesser volatility if we compare it to Bitcoin. It's currently in its own all time time high right now. For people who don't want the volatility, and merely want a slower surge in price, then Gold might be the more preferable investment. ¯\_(ツ)_/¯ But Gold has taken it more than 20 years for its 10x. Bitcoin can surge to 10x in mere months. Title: Re: Bitcoin is risky Post by: tottong on August 20, 2024, 04:32:01 AM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. When it comes to finances it is quite sensitive because people only think about the good stuff in making money. Most don't consider the process they have to go through and don't know how to make a comparable return. There is a lot of confusion for people who are new to bitcoin because they may talk about fluctuations, but once they get to know it well this is what drives them to get more involved in an investment. In order to be wiser and well-received by them, provide an understanding of minimizing risk and learning to recognize the process of bitcoin's journey in the market from when it was launched until now. Thus they have an idea before deciding to get involved in it or not and this can make them better understand how bitcoin really works. Quote Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. There is no point in lying and the public disclosure of information regarding crypto has grown so much. But maybe we should talk specifically about bitcoin, why it is important to talk about it so that there is no confusion for people who are new to it. When we have learned bitcoin properly, that is where we can think about maximizing the risks generated in bitcoin.Title: Re: Bitcoin is risky Post by: OcTradism on August 20, 2024, 04:43:31 AM My point is that the intention is to either inform and educate or convince somebody. With the former, there's the complete picture. With the latter, there's bias. By presenting him/her the ROI chart, for example, the intention is probably to entice or attract him. He/she might be convinced and buy. However, in the process, you might have missed preparing him/her of the possibility or even eventually of Bitcoin losing big time in a very short period of time or a severe and continuous correction which needs years to recover. You can show then a big view with long term trend, that is bullish, first. Later you can inform them about advantages of focusing investment plan and capital management on long term as well as risk of short term volatility in this volatile market. I see your point, that is true, and by showing and convincing them that short term approach involves more risk than long term approach, you can more likely direct them toward long term investment.The Bitcoin Sell-Off History (https://www.visualcapitalist.com/bitcoin-historical-corrections-from-all-time-highs/) Quote Many people have quit Bitcoin after losing patience, after being disappointed and frustrated repeatedly, and so on. It's probably because they were conditioned to expect only the good moments. In reality, there aren't only good days; there are also bad days. It is because they didn't do due diligent research for their capital and investment management. If they do such research, they will be able to know more about history of the market and know about short term and long term movements of Bitcoin market.By understanding these things well, they will have better preparation on capital management as well as mentality. Mentality or psychology preparation is important to help them avoid panic reactions when Bitcoin has sell-offs or crashes. Title: Re: Bitcoin is risky Post by: AprilioMP on August 20, 2024, 08:28:09 AM That's actually NOT right. Gold has also been going up, but a much slower speed, with much lesser volatility if we compare it to Bitcoin. It's currently in its own all time time high right now. For people who don't want the volatility, and merely want a slower surge in price, then Gold might be the more preferable investment. ¯\_(ツ)_/¯ But Gold has taken it more than 20 years for its 10x. Bitcoin can surge to 10x in mere months. True. Gold has increased. Regarding the image showing the Bitcoin, Gold and Fiat lines, I also do not fully agree, especially Gold, although on the one hand this flat Gold line can be justified because its rate is different from Bitcoin. This is not much different from what you said that Gold takes decades to reach the increasing line, while Bitcoin can reach a price spike in a short time. Making both of them quite good investment assets by grouping Gold as a reserve fund. Title: Re: Bitcoin is risky Post by: Smack That Ace on August 20, 2024, 08:53:58 AM Calling it riskier is also not true and I don't really agree with it, because Bitcoin only has a price that tends to be volatile but that doesn't make it risky, it is trusted and can be relied on by users. And that's why I don't like to say "Bitcoin is risky" to ordinary users, because they will see Bitcoin as untrustworthy, but I prefer to say that Bitcoin is volatile and anyone who wants to invest in it should think about the risk of investing in volatile assets. High volatility is also considered risky because it can cause large losses in a short period of time if someone is ignorant and rushes to invest in bitcoin. Additionally, if we evaluate it fairly and compare it with other assets such as gold or real estate, bitcoin has huge risks. Not only stability, legitimacy, popularity...bitcoin is incomparable to other assets. Some countries haven't even legalized bitcoin yet, and there's no guarantee that governments that have legalized it won't suddenly reverse their declarations. Or bitcoin could seriously lose value if the world experiences a major incident...These things can happen at any time. Meanwhile, assets that have been proven over thousands of years such as gold will be less affected. There is no investment that is both safe and can bring high profits. The higher the profit, the higher the risk. Title: Re: Bitcoin is risky Post by: EarnOnVictor on August 20, 2024, 09:32:01 AM You've done well my friend, many would tell their friends/associates the positive part of Bitcoin but will be silent about the negative part. When the issue arose, such an introducer would now be a bad person in the sight of the friend/associate which is supposed not to be. As I tell people about Bitcoin, I also tell them the pros and cons immediately and still mandate them to do their own research. By that, I've exonerated myself if they had a bad experience investing.
Like I always tell the bigots here, Bitcoin investment is not an automatic wealth creation and it is evident with what the majority can say about it based on their experience. Many are losing, it's a fact, which is why we should not be investing in Bitcoin blindly. It's good to strike it at the right price (low) and effectively monitor your investment to avoid some unforeseen circumstances. I've also discovered that investing and divesting at the right time suggested by chart reading is key to maximizing our Bitcoin earnings and not the popular HODLing that might no longer be feasible to earn you multiples of your gains, especially if Bitcoin remains at a high price of about $60,000 and above. Title: Re: Bitcoin is risky Post by: michellee on August 20, 2024, 10:15:02 AM Before we introduce Bitcoin or crypto to other people, we must search for people who can accept our explanation. Like what I gets with my neighbor. We discuss with crypto but I know that we can not argue with hard and nothing we can get from that discussion.
I let him with his understanding about crypto especially Bitcoin while I explain what I know about crypto. I tell them that investing in Bitcoin have the risks so if they don't want to get the big risks, they can start with the money they can afford. I tell them that the important is not panic when the market is down. But I don't force them to invest in Bitcoin. That will be their decision to invest in Bitcoin or not because I just only introduce to them and let them decide. That is why they must learn how to minimize the risks by only using the money they can afford to use and other things. Title: Re: Bitcoin is risky Post by: Smartvirus on August 20, 2024, 10:40:58 AM Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Every commodity experiences some level of volatility at some point. The thing is, some commodity are more volatile than others especially, when it’s not regulated by some authority as is the case with Bitcoin and many cryptocurrency assets.You did good having to explain these things to your friends understanding but, volatility isn’t a risk. The way you approach or choose to use it is what makes it bad or good for you. The unfortunate truth is, you can’t accurately predict the market and most times, people end up not taking actions on their predictions but, that’s how you survive in this, trusting in your own analysis which takes time to master. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. The worst thing you can do to someone is, just telling them all success stories and how they could build a fortune out of Bitcoin or crypto asserts. You might end up having that individual bugging the very peace out of your everyday.Title: Re: Bitcoin is risky Post by: Kelward on August 20, 2024, 11:01:11 AM Most of us were skeptical about Bitcoin at some point and eventually either by research or word of mouth we were able to see it as what it is, a store of value. I used to preach about the profitability of Bitcoin as a valuable asset when I first joined the forum as a newbie but the negative response that I got made me to only enlighten people that shows genuine interest to learn about it. Most of them either thought that I want to scam them or that I was introducing them to a Ponzi scheme but I'm glad that some are into cryptocurrency now. Bitcoin as a volatile crypto but you can't compere it to other cryptocurrencies that are risky, most will dip and never recover and they'll be dead with investors funds.
Title: Re: Bitcoin is risky Post by: benalexis12 on August 20, 2024, 11:37:25 AM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. What's up, Op? Did you go through being a newbie before in this field of the bitcoin industry? So you should also really know that he will not really get or understand Bitcoin or the crypto space right away. It's not because you explained it now that he will understand it right away. All of us here in the Bitcoin business community did not immediately understand bitcoin or crypto in the first day, first week, or first month; it took time before we became deeply understanding of this matter. No matter what you explain to your friend—that is a basic explanation—he still won't really understand it right away. Your friend needs to spend time learning this. It's not enough to just say that Bitcoin is risky, because that's a given. Then your friend needs willingness, determination, and passion if he really wants to understand Bitcoin. Though your intention is good to you friend. I understand you op. Title: Re: Bitcoin is risky Post by: Z_MBFM on August 20, 2024, 12:09:42 PM Sure, Bitcoin might be risky, but have you ever tried letting a Tesla drive you around in autopilot mode? Now that’s a thrill ride! Or how about sitting on a Boeing 737 and realizing that sometimes even the skies have their surprises? Compared to that, Bitcoin’s volatility is just a little spice in the investment soup. At least with Bitcoin, you’re in the pilot’s seat—no autopilot required! All investments in the world are risky. Will you invest in shares of companies like Tesla, Apple, Amazon, can you guarantee profit from them? Do they ever go down in price? Bitcoin is one of the most trusted currencies in the crypto world. If one cannot invest in Bitcoin then it is not safe to invest in any other coin. If you invest, there will be risk and if you don't accept risk, you can never gain. so I would say long term investment in Bitcoin is not risky as we know about the history of BitcoinTitle: Re: Bitcoin is risky Post by: Tmoonz on August 20, 2024, 01:38:12 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Yeah Bitcoin is risky but it is not as much risky as Many people claims and proclaims, it is always advisable to investment from your disposable or discretional income after you must taken care of whatever you might have considered to be a basic need, by investing the amount readily available for investment with as little as comfortably you can be with, Bitcoin investment is more like investing an amount that you are not going to make used of, you did well by telling him about volatility nature of Bitcoin but people who understands Bitcoin dynamics takes advantage of Bitcoin volatility by buying more Bitcoin, but however it is not by force for anyone to invest in Bitcoin as it has more to do with a personal conviction to ever consider investing in Bitcoin. The DCA strategy helps an inexperienced to have experience while already in market, consider teaching your friend about DCA. Title: Re: Bitcoin is risky Post by: kryptqnick on August 20, 2024, 02:42:21 PM I believe it's better to be honest about the risks. I mean, we don't want people to blame us when they invest and then lose their money to scams, panic selling during the bear market, accidentally typing the wrong address and sending it there, forgetting where they put information to access the wallets, etc. There are many things that can go wrong with Bitcoin investment, and people do need to take it seriously because it's quite different from centralized services they're used to dealing with all the time, where many mistakes can be fixed by contacting support.
Title: Re: Bitcoin is risky Post by: HajiBagi on August 20, 2024, 02:56:34 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. You are right, we should not lie to people about crypto just because we want to engage in it, it is very risky to lie to people about crypto because that can make people lose trust in you and they will never believe anyone about crypto again, I have seen many people who never believe in crypto and it’s because of what they have heard about crypto and how some people have been deceived, bitcoin is a very risky investment and it helps to those who know about it and be patient to hold for a long period. When you are trying to educate others about Bitcoin make sure you explain directly and clearly so that anyone interested will take the risk and buy Bitcoin, and also in the process of introducing Bitcoin to people make sure you give them some details that they will go through it and read more carefully to understand what bitcoin is all about so that at the end no one will say you didn’t explain to them that they will understand what bitcoin is about. Title: Re: Bitcoin is risky Post by: TsenTsen on August 20, 2024, 02:58:48 PM I couldn't agree more. Moreoever, I blame social media' investment influencers who are hyping young people to jump into cryptocurrency without making them understand the risk first, I was also one of them and had to learn it the hard way. We have to learn about cryptocurrency from someone who could give us the objective overviews on its pro and cons without trying to brainwash us into joining them but ended up selling some private classes.
We should do our own research and deep understanding about investment, trading, and cryptocurrency before deciding to join the hype Title: Re: Bitcoin is risky Post by: Adams0001 on August 20, 2024, 03:01:23 PM Calling it riskier is also not true and I don't really agree with it, because Bitcoin only has a price that tends to be volatile but that doesn't make it risky, it is trusted and can be relied on by users. And that's why I don't like to say "Bitcoin is risky" to ordinary users, because they will see Bitcoin as untrustworthy, but I prefer to say that Bitcoin is volatile and anyone who wants to invest in it should think about the risk of investing in volatile assets. Anything that is an investment or a company will undoubtedly be risky, and bitcoin, in my opinion, is risky since it is unpredictable and cannot be predicted, and I am sure even the professional understands this. If you invest for the long term, you will not recognize the danger as such because profiting from bitcoin requires long periods of time. They have many people that invest in bitcoin for short term to gain profit, and he can't be feasible some time, because sometimes the market doesn't go well and the price decreases, which affects your money, and if you are not someone who is patient when you so your money is decrease, you will started thinking that you will lose all your money and plan to sell it at lose before you lose all. If you do not have a source of income, you will not see the risk in bitcoin because you have funds to support your investment, and when the bitcoin falls, you will get something to top it off, or you will lose it for a long time because you believe you will get the capital and profits back because you understand how bitcoin works. If bitcoin is not risky, everyone will invest in it. If bitcoin is not risky, you will not make a profit, so saying you will make a profit every day without losing money is impossible. :) Title: Re: Bitcoin is risky Post by: Ca4gil on August 20, 2024, 03:05:09 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. I think this is the right position. If a person starts to be afraid, thinks it's risky, it's basically true, and you don't need to prove it to them. And if they are interested, then you can tell them more.Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Title: Re: Bitcoin is risky Post by: m2017 on August 20, 2024, 03:14:15 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. Any investment is unstable and risky. I would say that our whole life is a multitude of risks. But in the case of any risks, the final result is assessed first, that is, when investing in bitcoin - potential profit. Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Traders will agree with you about volatility, that it is not bad at all, because it is due to this very volatility that they earn.Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. And I think that we need to go further: to show how cryptocurrencies work and best of all, practically, at those moments when it is necessary. For example, you need to pay someone for a service, then pay in crypto and at that moment demonstrate all the advantages of this financial instrument.Title: Re: Bitcoin is risky Post by: Catenaccio on August 20, 2024, 03:22:01 PM Any investment is unstable and risky. I would say that our whole life is a multitude of risks. But in the case of any risks, the final result is assessed first, that is, when investing in bitcoin - potential profit. Investment is similar other things in life which require us to do consideration, assess risk and chance to make decisions. There is nothing in life only includes chance but does not have risk. It's only up to us ignoring risk and only blindly see opportunity and if we are seeing things in life this way, we are risk-ignorant people and will be charged expensive cost when risk turns to actual bad things in life.Quote Traders will agree with you about volatility, that it is not bad at all, because it is due to this very volatility that they earn. Traders are more risk takers than investors but both need to accept risk, afford to lose initial capital before starting investment or trading. By taking risk, they do see volatility in this market, accept it and even see chances to get profit from market volatility.Quote And I think that we need to go further: to show how cryptocurrencies work and best of all, practically, at those moments when it is necessary. For example, you need to pay someone for a service, then pay in crypto and at that moment demonstrate all the advantages of this financial instrument. From Bitcoin to cryptocurrency is big difference as we all know a fact that Bitcoin is less volatile than altcoins and Bitcoin is stronger than altcoins in survival in this market. People have to pay bigger cost with altcoins than with Bitcoin in case their invested altcoins go wild and lose prices in the market.Title: Re: Bitcoin is risky Post by: el kaka22 on August 20, 2024, 04:23:40 PM While I do agree that bitcoin has some sides that I would like to fix (energy efficiency, high transaction costs, low speed of transactions), I would not say that it is risky. Just because it is volatile doesn't mean it's risky, if you buy at 70k and sell at 30k then that's your risky move and not about crypto, any investment can fall, not selling is an option and you could DCA and drop your average and then sell for a lot more when it recovered. Most people think that you have to make a profit very quickly or it doesn't worth it, but in reality when it takes longer to recover then you have a chance to make a bigger profit.
Anyone who bought at 65k+ during 2021, had about two to three years to collect more and more, they could have collected way more and it could have been awesome for them and instead they just ended up with nothing at all. This is why always try to make as much profit as you can by DCA and holding, not trying to trade it quickly. When you do that, the risk factor of bitcoin is almost nothing, outside of gold there is nothing that is as safe as bitcoin investment in the world, even if you find any dangers in it then at least we can say that there are other assets which are worse. Title: Re: Bitcoin is risky Post by: Cookdata on August 20, 2024, 05:46:32 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. The fascinating days of crypto aren't here any more, I don't think anyone will want to get into crypto because of those hypes anymore. Many lessons were learnt during the 2021/22 when market fell and many people are yet to recover from those losses, the only coin that recovered from there is Bitcoin, this is why Bitcoin remain the true coin to recommend for anyone but do people really want to buy Bitcoin? They are all preferred that coin that will double quickly which are the altcoins. I have joined the gangs of I don't do Bitcoin anymore, ghat way of lying is the best way I can save myself the stress of explaining myself to them because when you tell them not to buy altcoins and but Bitcoin, they will see you like you don't know what yiua are doing. I have a guy that bought meme after consulting me for advice, I told him not to buy and he went in my absent to meet another guy and he was rugged but he didn't tell me, I heard it from another person and I acted like nothing happened because that wasn't on me. Title: Re: Bitcoin is risky Post by: Z-tight on August 20, 2024, 06:22:54 PM BTC is volatile and risky, but especially in the short term, in the long run there is a very high chance of your making returns. I usually recommend that weak hands and impatient people stay away from BTC, if you are buying BTC with money that you'd need only a few weeks later, then it may be better if you hadn't bought it.
However, some people many not be ready for the risks associated with BTC, and such people can buy assets like gold, it is stable and it can retain its value during the 'bad times'. Title: Re: Bitcoin is risky Post by: Obari on August 20, 2024, 08:56:27 PM You’ve done well op and not many people especially from my region would want to boldly speak this truth to aspiring holders and at the end of the day, getting them mislead and at the long run, they might even be blamed for any losses.
A lot of people that introduce others to bitcoin and cryptocurrency in general don’t even have the right knowledge themselves and end up leading their mentees astray because if they have the right knowledge, they would have to know that, the first thing to tell anyone about bitcoin and cryptocurrency is that, it is volatile. Title: Re: Bitcoin is risky Post by: Finestream on August 20, 2024, 09:26:37 PM Bitcoin is certainly risky, no doubt with that, but if you know how to manage the risk, you will gain advantage on bitcoin. However, for those who want to invest but are afraid to take the risk, that's normal, DYOR first and make thorough study until you will clearly understand how to invest in bitcoin safely without making yourself too much at loss in the end.
Title: Re: Bitcoin is risky Post by: tottong on August 21, 2024, 02:24:52 AM Bitcoin is certainly risky, no doubt with that, but if you know how to manage the risk, you will gain advantage on bitcoin. However, for those who want to invest but are afraid to take the risk, that's normal, DYOR first and make thorough study until you will clearly understand how to invest in bitcoin safely without making yourself too much at loss in the end. Because bitcoin has a slightly greater level of risk when invested, people must have the ability to minimize. Risk can be controlled by not panic in investing because Bitcoin has a recurring cycle and if followed well then someone can minimize it. If you are too afraid of risk, investing in crypto, especially bitcoin is not suitable to run because there will be many challenges that they will get after being in investment. But if we pay attention further wherever we are risk can never be separated just like that and what people need to do think of how to minimize. When the knowledge possessed is good, the risk will slowly be minimized because there is actually nothing completely free of risk wherever we are. Title: Re: Bitcoin is risky Post by: CryptoBuds on August 21, 2024, 03:11:15 AM While I do agree that bitcoin has some sides that I would like to fix (energy efficiency, high transaction costs, low speed of transactions), I would not say that it is risky. Even thousands of years old assets like gold or real estate have risks, so saying that virtual assets like bitcoin are risk-free is just baseless exaggeration and just personal thinking. Bitcoin is not even legal worldwide, many countries still do not recognize it. Capitalization is just over 1 trillion and is too small to say it is mature enough not to collapse. Not to mention the development of technology is happening so fast, there is no guarantee that it will not be decoded or broken in the future. Overall, the potential risks of bitcoin are still huge and that is why many governments are in no rush to adopt it. It needs more time to prove that it is truly useful and worth our trust in the long run. It took gold thousands of years to build the reputation and trust it has today, so it's naive to think that an asset that's only 15 years old is risk-free. We are bitcoin investors but let's be realistic, don't exaggerate or be too blind. Title: Re: Bitcoin is risky Post by: reagansimms on August 21, 2024, 03:45:15 AM He only knows that Bitcoin is constantly fluctuating and risky, but that is just a basic understanding for someone who wants to invest in Bitcoin. A broader explanation is needed to increase understanding of Bitcoin, its fluctuating price as a driving force for making profits. Bitcoin prices are not always at their lowest or highest point, if he is able to take advantage of this condition, there is very little risk that will come to him.
Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Just explain what needs to be explained without any engineering, if your friend is interested in Bitcoin investment, he will ask you to teach him further. There are certain limits that should not be crossed when trying to teach someone so that you are not blamed when the investment value starts to decrease.Title: Re: Bitcoin is risky Post by: Wind_FURY on August 21, 2024, 08:28:11 AM That's actually NOT right. Gold has also been going up, but a much slower speed, with much lesser volatility if we compare it to Bitcoin. It's currently in its own all time time high right now. For people who don't want the volatility, and merely want a slower surge in price, then Gold might be the more preferable investment. ¯\_(ツ)_/¯ But Gold has taken it more than 20 years for its 10x. Bitcoin can surge to 10x in mere months. True. Gold has increased. Regarding the image showing the Bitcoin, Gold and Fiat lines, I also do not fully agree, especially Gold, although on the one hand this flat Gold line can be justified because its rate is different from Bitcoin. This is not much different from what you said that Gold takes decades to reach the increasing line, while Bitcoin can reach a price spike in a short time. Making both of them quite good investment assets by grouping Gold as a reserve fund. Relative to Bitcoin, of course, but that's a mere illustration that should show the FACTS, not the actual graphs themselves. The person who made that illustration should draw the line for Gold slightly going upwards if you ask me. It may look like that I'm nit-picking, but we need to show the FACTS. Plus for the fiat lines, I definitely and FULLY agree. They're worthless worse than shitcoins, centralized and controlled by the Cabal of the usury-loving Central Banking scam. Title: Re: Bitcoin is risky Post by: Zigabel on August 21, 2024, 02:32:53 PM I wouldn't want to sound defensive for bitcoin but i would rather say bitcoin is just a better risk than some other investment risk, this is because with bitcoin, there's this level of assurance as to the chance you will be profitable if only you are committed to it is very high than with other where it may look like a blind risk, with bitcoin you just need so much of patience and you will be certain you are going to make some good profits off your capital at the end of the day.
Patience is what most investors do lack at times and that has not done so much for those who lack it but for those who do especially with bitcoin, they usually get the most of it and definitely end up making the kind of profits that most investors had wish to get of bitcoin. Title: Re: Bitcoin is risky Post by: Septex on August 21, 2024, 04:15:30 PM Currently, the price of Bitcoin is at 59 thousand dollars And looking at the past history of Bitcoin shows that the value of Bitcoin was still a bit up but currently its value is down a bit. But after reviewing everything, I don't think investing in Bitcoin is risky. Because if long term investment is made here it will eventually rise and there is a possibility of profit through it. As we can see at the beginning of 2023 the price of bitcoin was very low now in 2024 the price of bitcoin has increased comparatively and its stability is much higher than before. So I personally think investing in Bitcoin is comparatively less risky and profitable
Title: Re: Bitcoin is risky Post by: Mame89 on August 21, 2024, 08:51:28 PM Bitcoin is certainly risky, no doubt with that, but if you know how to manage the risk, you will gain advantage on bitcoin. However, for those who want to invest but are afraid to take the risk, that's normal, DYOR first and make thorough study until you will clearly understand how to invest in bitcoin safely without making yourself too much at loss in the end. Bitcoin if you do not have a good understanding is certainly very risky, especially if you invest without patience and do not have the right basics of wallet security, of course it will make you lose. In addition, when you do not have enough knowledge when there is a significant price fluctuation, it will make you panic. Because the high increase in the price of bitcoin is followed by a high decline. Therefore, bitcoin is often referred to as an asset with high risk and high profit.Another risk is that cybercrime is also a risk in bitcoin because of course the increase in the quality of digital currency will definitely be followed by digital currency criminals. Maybe another risk if there is an error during delivery because if there is a delivery of our assets cannot be returned. Maybe things like this should also be taught to friends so that they know that Bitcoin investment is not just buying but must be able to minimize the existing risks. Title: Re: Bitcoin is risky Post by: OgNasty on August 21, 2024, 08:55:48 PM Buying Bitcoin is risky. Not owning Bitcoin is risky. Choose your risky...
As always and with everything, diversity is important. I think that Bitcoin, as risky as it may be, still has a place in everyone's portfolio. Perhaps even a larger place in the portfolio's of the rich who wish to protect their assets. In a time when money can be printed out of thin air, and most people devote their entire lives to careers in hopes of obtaining enough money to live without worrying about it. Bitcoin is a clear answer to many worries and especially for those without investment experience or retirement portfolios. Title: Re: Bitcoin is risky Post by: Wakate on August 21, 2024, 09:58:04 PM BTC is volatile and risky, but especially in the short term, in the long run there is a very high chance of your making returns. I usually recommend that weak hands and impatient people stay away from BTC, if you are buying BTC with money that you'd need only a few weeks later, then it may be better if you hadn't bought it. It is good we keep informing anyone that want to invest in cryptocurrency of the risk so that they would know how to go about it without falling victim to scammers. There are so many time we ought to learn about the market that is why newbies need to be patient and learn thoroughly about the crypto market and how to keep their crypto portfolio safe from hackers or scammers. So many of us had made mistakes in the past that caused us huge fortune lost and that is why others needs to learn and not wait for when they would become a victim too. We all need to stay safe and keep our crypto portfolio safe from intruders. However, some people many not be ready for the risks associated with BTC, and such people can buy assets like gold, it is stable and it can retain its value during the 'bad times'. Title: Re: Bitcoin is risky Post by: Dzwaafu11 on August 21, 2024, 09:59:35 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Yeah. Lying to people about bitcoin will not spoil only your image, but the whole crypto currency will turn into a scam for them because they have already fed up with lies, and after practicing they don't get any positive return. So if another person goes to tell them they won't believe regardless of how knowledgeable you may think you are about crypto because of their first experience, so my own is two things. Advice and lying is not good to advise someone to invest or get themselves in anything crypto currency that will require them to use money; rather, teaching them is the best way to get people to adopt and the teaching should be both positive and negative side of it to avoid being blamed at the end of the day. for the fact that if anything happens, you will be the one to blame, even if they are the ones that make mistakes they won't remember. That is why bringing someone to this space has its own risk separate. Title: Re: Bitcoin is risky Post by: Rockstarguy on August 21, 2024, 10:05:21 PM Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. That is why people needs to understand the volatility of the market first before making decisions of going into the market to invest. It will be very risky for someone who does not have understanding of crypto to invest because it is possible for people of no knowledge to sell out of fear when the market is going dip. The volatility in cryptocurrency is very important and it is what makes crypto to be valuable and people needs to understand how the volatility works so that it can be of good advantage to make profit .Cryptocurrency is very risky for those who don't have knowledge about it and it is not advisable for people who have no understanding of it to think of investing in it. Title: Re: Bitcoin is risky Post by: kawetsriyanto on August 21, 2024, 10:57:22 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. In my opinion, your friend does not think Bitcoin has a bad reputation. He stated the truth about Bitcoin. There is nothing wrong with that, it is true that investing in Bitcoin is risky and its value is unstable. But you need to tell your friend that there is no investment that has no risk, right? Even other investment can be riskier than Bitcoin. Show him how the price growth of Bitcoin since it is created for the first time until now. When you showed it, I think your friend will realize the potential of Bitcoin. I'm very sure that your friend will conclude himself that Bitcoin has a low risk for holding a long term. Regarding the price, tell him that the instability of the price is the chance of gaining higher profits. If the price is stable, how we can get high profits? It there is no low price and no high price, it won't be an investment but it is only a saving. We are investing in Bitcoin, we aren't saving. The point is that we must know the cycle of Bitcoin price growth every 4 years. Advice him to learn it first, to know how the instability of Bitcoin price isn't a bad thing but it is a good thing for investors.References: 1. https://bitcoinmagazine.com/guides/bitcoin-price-history 2. https://www.investopedia.com/articles/forex/121815/bitcoins-price-history.asp Title: Re: Bitcoin is risky Post by: laijsica on August 22, 2024, 05:05:31 AM Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. That is why people needs to understand the volatility of the market first before making decisions of going into the market to invest. It will be very risky for someone who does not have understanding of crypto to invest because it is possible for people of no knowledge to sell out of fear when the market is going dip. The volatility in cryptocurrency is very important and it is what makes crypto to be valuable and people needs to understand how the volatility works so that it can be of good advantage to make profit .Cryptocurrency is very risky for those who don't have knowledge about it and it is not advisable for people who have no understanding of it to think of investing in it. Title: Re: Bitcoin is risky Post by: Cryptmuster on August 22, 2024, 07:05:38 AM That is why people needs to understand the volatility of the market first before making decisions of going into the market to invest. It will be very risky for someone who does not have understanding of crypto to invest because it is possible for people of no knowledge to sell out of fear when the market is going dip. The volatility in cryptocurrency is very important and it is what makes crypto to be valuable and people needs to understand how the volatility works so that it can be of good advantage to make profit . Cryptocurrency is very risky for those who don't have knowledge about it and it is not advisable for people who have no understanding of it to think of investing in it. Volatility is a risk for other coins that may not grow again after a big drop, but this does not apply to Bitcoin, because every time after corrections, or bear markets, it comes back and continues to grow. Therefore, Bitcoin can hardly be called risky, if you evaluate it in the context of the entire crypto market, then in my opinion it is the safest coin in which you can invest without consequences and without fear of losing your money. Of course, this will be true provided that you can hold it long enough to wait for the next bull market. Each new cycle, Bitcoin reaches a new ATH, this is a very good tradition that gives us confidence that it is difficult to imagine a better asset. Title: Re: Bitcoin is risky Post by: re-start on August 22, 2024, 08:13:21 AM In my opinion, no investment is 100% safe. How many thousands of people in Ukraine have left their luxury homes?
Investing in gold, land, oil, and even stocks can be risky. Like other things, Bitcoin can be a risky investment, considering that you need modern knowledge to invest and the price is constantly changing. However, I think that ordinary people have a better understanding of Bitcoin than in previous years, and it has become a little easier to convince them to invest in Bitcoin. Don't you think so? Title: Re: Bitcoin is risky Post by: Victorybit1 on August 22, 2024, 08:45:55 AM Sure, Bitcoin might be risky, but have you ever tried letting a Tesla drive you around in autopilot mode? Now that’s a thrill ride! Or how about sitting on a Boeing 737 and realizing that sometimes even the skies have their surprises? Compared to that, Bitcoin’s volatility is just a little spice in the investment soup. At least with Bitcoin, you’re in the pilot’s seat—no autopilot required! Lol 🤣, I think I can relate to the statement as everything in this world is risky whether you are a real estate business typhoon or just an ordinary business man or even a working class citizens there are so many situation that we can relate that revolves around that particular thing you are doing being risky. Bitcoin is no exceptions but understanding that its volatility is just what makes it really interesting and even the course of its massive popularity just make everything work fine with an investment in Bitcoin.Title: Re: Bitcoin is risky Post by: NotATether on August 22, 2024, 08:53:43 AM Bitcoin is risky but only in the short-term. Long term it appears to pose no risks for your financial holdings, unlike a bunch of other coins that can't even get their own futures secured, and it reflects on their prices when they can't even reach their own ATHs for several years.
So there is some risk when buying Bitcoin, but that should only be of concern to crypto traders. Normal people who just want to HODL bitcoin should not have to worry about this. Title: Re: Bitcoin is risky Post by: Don Pedro Dinero on August 22, 2024, 09:17:35 AM I would put it the other way around: what is risky is not having bitcoin. I am also not someone who fully understands the advantages of Bitcoin, but I have been increasingly convinced that Bitcoin is something extraordinary whose scope is not only limited to price. https://talkimg.com/images/2024/08/19/7vxHl.jpeg Source image: bitcoinmagazine That's actually NOT right. Gold has also been going up, but a much slower speed, with much lesser volatility if we compare it to Bitcoin. It's currently in its own all time time high right now. For people who don't want the volatility, and merely want a slower surge in price, then Gold might be the more preferable investment. ¯\_(ツ)_/¯ But Gold has taken it more than 20 years for its 10x. Bitcoin can surge to 10x in mere months. Yes, but it gives you an idea. Let's complete the chart with this one, the bitcoin vs USD purchasing power chart (https://www.researchgate.net/figure/Purchasing-Power-Over-Time-1-USD-vs-1-BTC_fig1_344877126): https://www.talkimg.com/images/2024/08/22/75B5b.png Is it becoming clear what is riskier and what is not? Risk, of losing capital or wealth, should not be confused with volatility. Title: Re: Bitcoin is risky Post by: Wind_FURY on August 22, 2024, 09:53:14 AM I would put it the other way around: what is risky is not having bitcoin. I am also not someone who fully understands the advantages of Bitcoin, but I have been increasingly convinced that Bitcoin is something extraordinary whose scope is not only limited to price. https://talkimg.com/images/2024/08/19/7vxHl.jpeg Source image: bitcoinmagazine That's actually NOT right. Gold has also been going up, but a much slower speed, with much lesser volatility if we compare it to Bitcoin. It's currently in its own all time time high right now. For people who don't want the volatility, and merely want a slower surge in price, then Gold might be the more preferable investment. ¯\_(ツ)_/¯ But Gold has taken it more than 20 years for its 10x. Bitcoin can surge to 10x in mere months. Yes, but it gives you an idea. Let's complete the chart with this one, the bitcoin vs USD purchasing power chart (https://www.researchgate.net/figure/Purchasing-Power-Over-Time-1-USD-vs-1-BTC_fig1_344877126): https://www.talkimg.com/images/2024/08/22/75B5b.png Is it becoming clear what is riskier and what is not? Risk, of losing capital or wealth, should not be confused with volatility. That's the point of the Central Banking scam. The Cabal is making the people poorer the longer we hold/use the fiat currencies that the Cabal has control over - The Money Printer. That's absolutely why we need to HODL Bitcoin as a back-up/fall-back. The people who discourage HODLing because "reasons" are probably not informed. Read - A History Of Central Banking And The Enslavement Of Mankind, https://archive.org/details/stephen-goodson-a-history-of-central-banking-and-the-enslavement-of-mankind.org Title: Re: Bitcoin is risky Post by: peter0425 on August 22, 2024, 10:25:19 AM Investing in gold, land, oil, and even stocks can be risky. Like other things, Bitcoin can be a risky investment, considering that you need modern knowledge to invest and the price is constantly changing. I think anything you put your money in will always have risk. If someone offers you 100% guarantee that your money will grow most likely that is a scam. Even well thought out businesses still have risks because there will always be factors we can’t control. Quote However, I think that ordinary people have a better understanding of Bitcoin than in previous years, and it has become a little easier to convince them to invest in Bitcoin. Don't you think so? I would agree. I think we can thank the fact that bitcoin has existed for this long and has continued to grow which has convinced a lot of people that bitcoin is not some scam and a legit investment opportunity.People got more open-minded with technology as well which helped. Not only young people but also even older generations Title: Re: Bitcoin is risky Post by: Oshio-man on August 22, 2024, 10:41:24 AM Quote from: Blitz23 For sure Bitcoin is risky, but that's the main reason why it is backup by stats and facts. Show your friend the recent stats of uprising gains and benefits of bitcoin it will change his life. Don't forget that anything that has risk, have some potential reward at the end which it take those that are bold in the industry to take the risk to invest in bitcoin, because they know that there will be reward when time of harvest come in the industry. Those your friends you show your gain and they show interest without learning the business, do you think they will earn gain like you that have the skills of the business, if they can go for the skill first, I think they can like what they are going to earn from the business in the future, there are some people that join the business based on the gain involved, but they never settle down to think about the basics things about bitcoin business, which are some of the things newbie need to have before embarking on bitcoin business.Title: Re: Bitcoin is risky Post by: AprilioMP on August 22, 2024, 11:39:47 AM That's the point of the Central Banking scam. The Cabal is making the people poorer the longer we hold/use the fiat currencies that the Cabal has control over - The Money Printer. People work day and night to get money to meet their daily needs. They can continue to print money without working so that the money we have is increasingly worthless. Indeed, this is a scam that is made so that people never think and study easily deceived by the system. Even such types of people continue to say Bitcoin is risky so there is no need to own Bitcoin, just collect fiat. Quote That's absolutely why we need to HODL Bitcoin as a back-up/fall-back. The people who discourage HODLing because "reasons" are probably not informed. For and in my opinion, I use Gold as a reserve fund that I can sell when I need funds for sudden needs. Bitcoin remains an asset that I hold long term, at least its age is based on a four-year cycle. Title: Re: Bitcoin is risky Post by: Blitzboy on August 22, 2024, 11:46:44 AM Bitcoin is more than an investment. An entirely new approach to money. Its volatility and disruptiveness are not for everyone. Everything wonderful began as a risk. Once, the stock market, digital banking, and even humans were gambles. Bitcoin has no distinction.
You must be smart to participate. Do your research on technology, market, and hazards. Dont join because someone made money quickly. Winners dont play that way. Bitcoin is not about instant riches. Being part of something bigger. Finance's future is at stake. I can tell you the future is bright. Definitely volatile. Volatility offers tremendous opportunity. If you're smart and prepared, you can make a lot. Dont allow Bitcoin's volatility deter you from investing. Take it in. Consider it a test of your intelligence and foresight. Title: Re: Bitcoin is risky Post by: CageMabok on August 22, 2024, 12:06:18 PM In my opinion, no investment is 100% safe. How many thousands of people in Ukraine have left their luxury homes? I think so too, but land and gold can also be considered as a form of investment as long as they don't make us lose in a certain period of time. Although assets such as land also need to be seen where they are located and the level of security of the environment itself, don't let us have land in a country that is at war like you said. As for Bitcoin itself, I think it is already a fairly complex investment because it is not that difficult to maintain and also continues to have the potential for further price increases and this has certainly made all eyes turn to see Bitcoin as a much better investment asset than the two assets I mentioned.Investing in gold, land, oil, and even stocks can be risky. Like other things, Bitcoin can be a risky investment, considering that you need modern knowledge to invest and the price is constantly changing. However, I think that ordinary people have a better understanding of Bitcoin than in previous years, and it has become a little easier to convince them to invest in Bitcoin. Don't you think so? Title: Re: Bitcoin is risky Post by: mirakal on August 22, 2024, 12:07:51 PM Doubts, uncertainty, worries, etc. All these things are expected to be heard from people around, as they never know yet about bitcoin. But that is understandable because we were also in that situation before, and we only gain interest and trust when we already understand it. That is why introducing this to other people needs some patience and understanding of their views. Telling them the truth helps them decide whether to invest or not, depending on their risk appetite.
This is the fact that we don't need to force people to invest but instead give them ample time to think because, in the end, their decision has a huge impact on their investment journey. Their willingness and trust are quite important because this is a key factor in success. Title: Re: Bitcoin is risky Post by: GeorgeJohn on August 22, 2024, 12:30:20 PM If you only see Bitcoin as an investment then there is some risk involved. Independently of its financial value, Already bitcoin is risk investment from the day it was established, that's why during 2020 people make different thread to educate others that we should not make bitcoin our main source of generating income, bitcoin investment have a higher risk because the price in the market never been stable, it always fluctuates in price, its obvious that you can purchase bitcoin now and in the next one week the price can start to crash, for accept of independent assets bitcoin is there, so for the investment don't give bitcoin 90%Just like everyone has already said, Bitcoin is volatile. volatility is a better word to describe the market. Something risky is something that's not to be trust as it could either be scam or a scheme of which Bitcoin isn't any. This is more reason why people should try their best to carry out enough research before investing on any new ideas they were introduced to. Sometimes it's their mindset that is actually wrong. They hear Bitcoin and think that they can become rich over night. That's not how it works. You can educate them about Bitcoin and tell them the difference from altcoins. Compared to Bitcoin, altcoins are more volatile in nature. 1% price dip in Bitcoin is a 100% for altcoins. That's one of the objectives of people who noticed bitcoin investment newly, they think if they ventured into bitcoin investment today probably They will make alot of money through bitcoin, so that's while they giot it wrongly, if someone want to succeed in anything what you need to do is to make sure you make your own research towards the thing you are looking up to, so I believe that with that you get it better, but people who is interested in bitcoin don't bother to do such, that's why they kept experiencing disadvantages aspects of bitcoin investment. Title: Re: Bitcoin is risky Post by: Hatchy on August 22, 2024, 12:50:50 PM but people who is interested in bitcoin don't bother to do such, that's why they kept experiencing disadvantages aspects of bitcoin investment. The truth about this is that they are introduced by the wrong people or individuals who obviously or in one way or the other wants to scam them of their money and since they are new to the crypto space they can barley different a scan from a legit person. In most countries people whom have little ideas about bitcoin turns it into a mean of making profit. They create books, ebooks and social channels just to pass on wrong informations to young wanna be investors. And to make it all look good, the money they steal from these people they use it to buy expensive items and post false updates to make others believe it's that easy. Title: Re: Bitcoin is risky Post by: ndutndut on August 22, 2024, 02:27:50 PM In my opinion, no investment is 100% safe. How many thousands of people in Ukraine have left their luxury homes? I think so too, but land and gold can also be considered as a form of investment as long as they don't make us lose in a certain period of time. Although assets such as land also need to be seen where they are located and the level of security of the environment itself, don't let us have land in a country that is at war like you said. As for Bitcoin itself, I think it is already a fairly complex investment because it is not that difficult to maintain and also continues to have the potential for further price increases and this has certainly made all eyes turn to see Bitcoin as a much better investment asset than the two assets I mentioned.Investing in gold, land, oil, and even stocks can be risky. Like other things, Bitcoin can be a risky investment, considering that you need modern knowledge to invest and the price is constantly changing. However, I think that ordinary people have a better understanding of Bitcoin than in previous years, and it has become a little easier to convince them to invest in Bitcoin. Don't you think so? And the risk that often occurs to beginners is not maintaining wallet security properly. Because so far bitcoin has often been the target of hacking and cyber attacks. Cybercriminals can steal bitcoins or access your wallet if it is not properly protected. So, it is very important to use a secure wallet and store the seed phrase in the safest place. Despite these risks, bitcoin may no longer be a high risk, especially if you invest in bitcoin for the long term. Title: Re: Bitcoin is risky Post by: BitGoba on August 22, 2024, 02:31:32 PM Bitcoin is not a crypto
Aside from a few superficial similarities, Bitcoin and crypto have nothing in common Bitcoin is a monetary network and the only currency that operates without a central leader or group of leaders. Its users don't have to trust anyone, which makes it truly peer-to-peer and resistant to censorship or control. In contrast, crypto is centrally controlled and created to generate quick profits for its creators or early investors at the expense of later investors. It relies on strong marketing of lies, deception, and fraud. As the saying goes, 'the house always wins,' and this is especially true for crypto Crypto is more similar to the fiat system The process of money creation is handed over to private bankers. The private owners of central banks are the ones who control the creation of fiat money.just like with crypto https://i.redd.it/h4pu6ggv5f0a1.jpg Title: Re: Bitcoin is risky Post by: BitGoba on August 22, 2024, 02:49:21 PM Very few people truly understand what Bitcoin is and why it is so valuable, which attracts scammers who exploit this ignorance. It is crucial to know the difference between Bitcoin and "crypto" or shitcoins. When you say Bitcoin, it refers to the invention of the hardest money ever in monetary history and a major leap in the evolution of money. It represents freedom and ultimate financial power for the sovereign individual. When you say "crypto," it means garbage, shitcoins, lies, deception, fraud.
Money has taken many forms throughout history, but it consistently fulfills three essential functions: a store of value, a unit of account, and a medium of exchange. Medium of exchange: Money allows people to exchange it for other goods or services. It is the ultimate good for which any other good or service can be purchased. With money, all products of human labor can be traded. Unit of account: Money serves as a means to express the value of a particular good or service. Store of value: It maintains its value over a long period so that it can be exchanged for goods and services when needed. Throughout history, many goods, objects, and materials have played the role of money. From glass beads, shells, copper, lead, aluminum, silver to livestock and gold. Over a long period of history, money has evolved to the point where goods, objects, and materials used as money can have value without serving any other 'essential' purpose, like gold. Instead, its sole use is as money, i.e., a store of value, a unit of account, and a simple means of exchange for other goods at any time you wish. Certain key characteristics of money, such as divisibility, portability, durability, scarcity, and ease of verification, have been common to the money that people have used throughout monetary history. Given that a quality currency is one that is scarce and difficult to multiply, gold was the dominant form of money throughout history (hard money). The reason for this lies in the fact that gold is extremely scarce in nature and very difficult to produce. Hence the term "hard currency" or "hard money" is used. Today, with a newly mined gold production rate of only about 2% per year, gold represents one of the rarest metals in the world and, until the discovery of Bitcoin, was the hardest money in monetary history. Gold and Bitcoin share numerous similarities in their concepts. The proof-of-work algorithm used for Bitcoin mining is very similar to the process of gold mining. In both cases, a lot of resources, money, time, and energy are needed to obtain gold or Bitcoin. Due to its fixed supply of 21 million, Bitcoin is the hardest money ever in monetary history and represents a significant leap in the evolution of money. Gold did not fulfill all the characteristics that good money should have. It was not easily portable, and it was not divisible, which led to the use of other metals like silver for smaller payments. Easy verification was not possible because counterfeit gold coins began to appear en masse, leading to the establishment of banks and the issuance of paper money, and eventually, today’s fiat central banking system. Gold was deposited in bank vaults, and banks issued paper certificates to depositors, certifying that they owned gold in the vaults. These paper certificates, known as banknotes, became the medium of exchange and currency. Later, bankers began printing many more paper certificates than the amount of gold in the vaults, giving rise to today’s fiat system. All easy currencies, such as central bank currencies like USD or EUR, become worthless over time because they can be easily multiplied, and central bankers can print them as much as they want. Currently, the inflation rate in the Eurozone is around 6%. This means that every year, fiat currencies lose about 6% of their value, and the 100 euros you have today are worth 6% less than the 100 euros you had last year. Therefore, fiat currencies do not perform well in one of the most important functions of money—acting as a store of value. With fiat money, due to excessive printing, there is the possibility of runaway hyperinflation caused by overprinting. As the name suggests, hyperinflation is inflation that develops rapidly and progressively, and even despite vigorous attempts to contain it, ends in a complete disaster of the fiat monetary system. For this reason, fiat money is unsuitable and highly risky for saving and long-term storage Bitcoin was launched at arguably the best possible moment. Rarely has the issue of money been more relevant than it is today. With its absolutely limited supply of 21 million, Bitcoin stands in complete contrast to fiat money from central banks, which can be printed without limit. Its limited supply provides protection against the devaluation of your money, as is the case with all fiat currencies issued by central banks today, which lose value daily. Due to its unique design, Bitcoin is created to preserve purchasing power over the long term. Title: Re: Bitcoin is risky Post by: DeathAngel on August 22, 2024, 06:46:24 PM I’d argue that owning zero Bitcoin is risky. Bitcoin is the best performing asset of the last 15 years. Sure we still have volatility but that’s a feature, not a bug, if you can use it to your advantage. Don’t get left on the sidelines, Bitcoin is about to pump hard soon.
Title: Re: Bitcoin is risky Post by: Value.Virtue on August 22, 2024, 08:37:35 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. Yes Bitcoin is volatile and when one invest in Bitcoin for long period of time it is only the price of Bitcoin that will fluctuate but the total number the individual bought will always remain intact, whereby if the investor purchases it with spare money and leaves it for a very long period of time he will surely make some good money, I think with these reasons they may want to try investing.Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Title: Re: Bitcoin is risky Post by: Distinctin on August 22, 2024, 09:21:17 PM Good thing if you end up convincing him and change his wrong concept towards bitcoin. But that's not always the case because I've met a lot of friends whom they really stick to their own beliefs even if they know at some point that what they believe are the false ones.
It pays to be honest actually and tell the people about the risks involved in bitcoin investment. If they think it'll be hard for them to deal with it, then they need to avoid bitcoin in the first place before big losses happen to them. Title: Re: Bitcoin is risky Post by: Wind_FURY on August 23, 2024, 09:33:24 AM That's the point of the Central Banking scam. The Cabal is making the people poorer the longer we hold/use the fiat currencies that the Cabal has control over - The Money Printer. People work day and night to get money to meet their daily needs. They can continue to print money without working so that the money we have is increasingly worthless. Indeed, this is a scam that is made so that people never think and study easily deceived by the system. Even such types of people continue to say Bitcoin is risky so there is no need to own Bitcoin, just collect fiat. Quote That's absolutely why we need to HODL Bitcoin as a back-up/fall-back. The people who discourage HODLing because "reasons" are probably not informed. For and in my opinion, I use Gold as a reserve fund that I can sell when I need funds for sudden needs. Bitcoin remains an asset that I hold long term, at least its age is based on a four-year cycle. You actually didn't include the most important part of that post, Quote Read - A History Of Central Banking And The Enslavement Of Mankind, https://archive.org/details/stephen-goodson-a-history-of-central-banking-and-the-enslavement-of-mankind.org Everyone of us plebs should READ that book and learn/understand how we're getting the shorter end of the stick! But if you don't read and/or lazy, there's an audio book! Listen - A History Of Central Banking And The Enslavement Of Mankind, https://youtube.com/playlist?list=PLZ7GdlPK75_tXJYVzkCId2SYEjBLjnU9E&si=sfedMi4n2ucwTpLZ Title: Re: Bitcoin is risky Post by: stadus on August 23, 2024, 09:47:54 AM Bitcoin is risky but only in the short-term. Long term it appears to pose no risks for your financial holdings, unlike a bunch of other coins that can't even get their own futures secured, and it reflects on their prices when they can't even reach their own ATHs for several years. Well, the risk is still there but undeniably, there is bigger risk in trading than hodling. But if you are completely aware about those risks and you’re knowledgeable enough on how to overcome those risks, I think you will end up lessening them instead and still make bigger returns at the end of the day. So there is some risk when buying Bitcoin, but that should only be of concern to crypto traders. Normal people who just want to HODL bitcoin should not have to worry about this. Always bear in mind that whatever has uncertain future will always be risky, even life itself. But we all know we don’t need to avoid those risks, but with knowledge, developed skills and enhanced strategies, we will slowly conquer those risks until we’re confident enough to just limit our losses and maximize our gains. Title: Re: Bitcoin is risky Post by: wahyuagung26 on August 23, 2024, 09:57:38 AM Bitcoin is indeed one of the risks, whether the user is a trader or who stores their assets as an investment in the form of savings or investments that have a time period, but from individuals who may have never understood this crypto, it tends to create feelings that are not good for them to do, and it seems they will consider a bad image of crypto when they never understand and live this crypto.
this is a natural thing for us to say, honestly they can change their perspective if they participate in understanding crypto today, they should know this is something valuable for every investor. Title: Re: Bitcoin is risky Post by: yudi09 on August 23, 2024, 12:46:14 PM Totally agree. Bitcoin’s volatile, but that’s the deal. Being honest about the risks and rewards helps keep things clear. If your friend’s curious, you can guide them through it. Voltage is what makes Bitcoin different from other assets like gold.Risk, everything has risks. There are risks with gold. One is that the process of getting returns takes too long. There are also risks with Bitcoin. One is the risk of not being able to properly maintain the private key or seed phrase. I didn't mention the risk of Bitcoin regarding the price because the price can change in a very short time. What is your opinion, why should you agree with other people's opinions. Title: Re: Bitcoin is risky Post by: Stable090 on August 23, 2024, 01:16:25 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Why will I lie about crypto? I'm going to tell anyone I'm introducing to crypto everything they need to know, and then it’s left for them to invest or not. I can’t lie to anyone just because I want them to invest, if they join and things don’t go well, I'm going to be blamed for that, and I will end up being a bad person to those people, so it’s just better if I tell them the truth. Yes, I know crypto is risky, but all investment is risky, and not only crypto, so any investment you trying to venture into has risk involved in it. If I tell anyone about bitcoin, if they are interested in it, then it’s fine, and if they are not interested, that’s their problem, I can’t force anyone to invest. Title: Re: Bitcoin is risky Post by: Dr.Osh on August 23, 2024, 01:31:38 PM Well, anyway, many people see that the fluctuations that occur in bitcoin are a big risk. However, some people also see it as an opportunity. I just think that people who see it as a negative are people who are not ready to accept bitcoin and how it works. Also, maybe the person is not suitable for trading, or investments that have high risks. So, I think rather than trying to convince him, it would be better if he finds out for himself and tries to analyze whether it is suitable for him or not.
Title: Re: Bitcoin is risky Post by: Awaklara on August 23, 2024, 01:32:12 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Why will I lie about crypto? I'm going to tell anyone I'm introducing to crypto everything they need to know, and then it’s left for them to invest or not. I can’t lie to anyone just because I want them to invest, if they join and things don’t go well, I'm going to be blamed for that, and I will end up being a bad person to those people, so it’s just better if I tell them the truth. Yes, I know crypto is risky, but all investment is risky, and not only crypto, so any investment you trying to venture into has risk involved in it. If I tell anyone about bitcoin, if they are interested in it, then it’s fine, and if they are not interested, that’s their problem, I can’t force anyone to invest. although Bitcoin is volatile, everyone can see how the growth of Bitcoin prices continues to move up over a certain period of time. if you only see fluctuations in a short time, for new people it will only cause panic and distrust. but look at the long-term growth progress that Bitcoin has, it is very promising to have. Title: Re: Bitcoin is risky Post by: Obim34 on August 23, 2024, 01:33:52 PM Bitcoin is indeed one of the risks, whether the user is a trader or who stores their assets as an investment in the form of savings or investments that have a time period, but from individuals who may have never understood this crypto, it tends to create feelings that are not good for them to do, and it seems they will consider a bad image of crypto when they never understand and live this crypto. A lot differences in your statement, Bitcoin doesn't impose any risk as per investing/holding, only for those who are quick enough to get back profits by holding for a shorter time and deciding to trade. As an investor, the goal is to purchase Bitcoin conveniently then hold for a long time, during the holding period there is always an increase in value worth of Bitcoin which guarantees profits to be made unlike the traders who risk portions of their portfolio just to earn more which they might end up getting no profits in return. this is a natural thing for us to say, honestly they can change their perspective if they participate in understanding crypto today, they should know this is something valuable for every investor. It will also be better identifying Bitcoin as Bitcoin and other Altcoins as Cryptocurrency because this are the one's with the actual risk, less secured Blockchain with less potentials, inability to keep the market running especially when experience the bear market. Title: Re: Bitcoin is risky Post by: Nheer on August 23, 2024, 02:32:34 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. A lot of people get the wrong idea about cryptocurrency and bitcoin which is probably due to misinformation. They cannot be blamed fully because they are ignorant about it and it’s easy for them to believe anything they hear about bitcoin. Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Defending bitcoin will only make you look like you’re dragging him into investing because you are into it. Next time you should just explain to them what bitcoin is like so they don’t get the wrong idea about it and let them decide for themselves if they are willing to invest in it. It’s just as you said it, Bitcoin and cryptocurrency is volatile in nature that why they are seen as an investment because they are capable of yielding profit but to get the best out of them one needs to study, learn and understand its basics and even more because it can also be as risky too. Title: Re: Bitcoin is risky Post by: Fivestar4everMVP on August 23, 2024, 03:12:39 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. Well, a good one actually, generally, it is very wrong to try to convince anyone to invest in bitcoin or any other cryptocurrency when such a person do not understand exactly the risk involved, this is something I've always tried my best to make sure people coming to me for Crypto advice and teachings understand.Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Crypto in general is risky, it's not just bitcoin, every crypto asset in the market that is not a stable coin is volatile and that's their nature, but if we critically look at this, it's more like a blessing in disguise, the volatility of or in crypto assets is the major driver to our being able to make money from it on daily basis, I mean, without the possibility of a crypto asset being $1 at this moment, and just a couple of minutes later, it's already $1.2, how would "buying low and selling high" be even possible? Those who understand crypto well know that the price fluntuations in crypto is a blessing, and not a curse, all we are required to do is learn how to effectively use this price fluntuations to our own advantage. Title: Re: Bitcoin is risky Post by: Baki202 on August 23, 2024, 06:43:12 PM Well, anyway, many people see that the fluctuations that occur in bitcoin are a big risk. However, some people also see it as an opportunity. I just think that people who see it as a negative are people who are not ready to accept bitcoin and how it works. Also, maybe the person is not suitable for trading, or investments that have high risks. So, I think rather than trying to convince him, it would be better if he finds out for himself and tries to analyze whether it is suitable for him or not. The fluntuation that bitcoin price comes with is all part of bitcoin because if the price keep going up it will not longer be an investment for the poor but for the rich and it will miss its purpose because satoshi made bitcoin to be available for everyone, and the fluctuations of bitcoin is supposed to be an advantage, if it's down you buy and if it's up you sell, the only place I see risk is not more than trading but for those holding long are the safest because were ever their price stop either down or up it will continue that, so holding is even better than trading and even trading if you trade with Sence you might lose money but it won't be much but if you don't want to trade with sence then you might lose everything, and if you know how to manage risk then you have less of a problem. Still looking for more money to buy and hold so for now am still prefer trading to keep my self in business, better than not doing anything. Title: Re: Bitcoin is risky Post by: Questat on August 23, 2024, 08:12:45 PM Bitcoin is certainly risky. There's no denying with that. One day you will see your investment skyrocketing its price, but the next day you'll find it already in the bottom, that's how risky bitcoin is. So if you're not patient and does not understand the market price fluctuations, you will definitely be pressured and become frustrated seeing your investment losing its value, but as long as you never decide to sell them at a low price, you'll never be at loss.
No need to sugar coat bitcoin. It's even a lot riskier than any other investments, that's why you have to study first and DYOR before you decide to risk your funds. Title: Re: Bitcoin is risky Post by: Ryu_Ar1 on August 23, 2024, 09:25:07 PM Good thing if you end up convincing him and change his wrong concept towards bitcoin. But that's not always the case because I've met a lot of friends whom they really stick to their own beliefs even if they know at some point that what they believe are the false ones. If in the end someone wants to make this a good thing in the end they cannot be someone who is naive because after all we must realize that with what is happening in bitcoin now there is definitely a risk and it cannot even be prevented so we cannot close our eyes to the risk.It pays to be honest actually and tell the people about the risks involved in bitcoin investment. If they think it'll be hard for them to deal with it, then they need to avoid bitcoin in the first place before big losses happen to them. It's just that often our view is a little closed, especially for the worst possibilities just because we always want good things. That's what always happens for some beginners who are always in bitcoin especially with the lure of instant profits, it is clear that they will not think about the risks they will have and what the process will be like because they are only focused on the benefits they will get later. Title: Re: Bitcoin is risky Post by: HelliumZ on August 24, 2024, 01:09:24 AM There's no denying that Bitcoin is an investment that carries risks. It is natural that investments other than Bitcoin will also carry risk but the psychological preparation to take that risk must be taken. There are many people who are not ready to take the risk of investing in Bitcoin and for them it is better not to invest in Bitcoin. The traditional rule is that just as there are profits to be made by investing in bitcoins, there are occasional risks involved in investing in bitcoins.
Title: Re: Bitcoin is risky Post by: MarjorieZimmermanGinger on August 24, 2024, 03:02:34 AM Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. There's no need to lie about anything because people can access information on the internet about it and now there is no hidden information when people want to find out. Bitcoin is speculative about its journey but one can be calm about the investment process that is carried out as long as they have knowledge. Bitcoin has shown resilience and there is always a recovery when facing corrections in the market and we also see that the recovery process is real.Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. What needs to be explained to people is how to deal with pressure mentally and not to panic in the investment that is carried out because bitcoin does not cause losses to anyone if invested properly and that can be achieved when people have knowledge when they want to start it. Title: Re: Bitcoin is risky Post by: Farma on August 24, 2024, 05:53:03 AM There's no denying that Bitcoin is an investment that carries risks. It is natural that investments other than Bitcoin will also carry risk but the psychological preparation to take that risk must be taken. There are many people who are not ready to take the risk of investing in Bitcoin and for them it is better not to invest in Bitcoin. The traditional rule is that just as there are profits to be made by investing in bitcoins, there are occasional risks involved in investing in bitcoins. Preparing yourself before deciding to invest is certainly very important for everyone who wants to invest, because we all realize that there is no type of investment that does not have risks in it, so without any preparation, someone who decides to invest will find it difficult for them to make a profit from the investment they are running and when someone wants to invest in Bitcoin, of course they must understand the investment well so that they can run it correctly and of course it benefits them because if they do not understand it well, they will make mistakes that are detrimental to themselves and for some people who do not dare to take risks in investing in Bitcoin, of course they only hear other people's stories about their failures in investing in Bitcoin but they themselves never try to learn so they also will not dare to invest in Bitcoin.Title: Re: Bitcoin is risky Post by: Cryptmuster on August 24, 2024, 08:47:59 AM Bitcoin is certainly risky. There's no denying with that. One day you will see your investment skyrocketing its price, but the next day you'll find it already in the bottom, that's how risky bitcoin is. So if you're not patient and does not understand the market price fluctuations, you will definitely be pressured and become frustrated seeing your investment losing its value, but as long as you never decide to sell them at a low price, you'll never be at loss. No need to sugar coat bitcoin. It's even a lot riskier than any other investments, that's why you have to study first and DYOR before you decide to risk your funds. There are risks in all investments, I used to think that real estate investments could be one of the safest, but when military actions started in my country, many lost everything they had, and if by some miracle this real estate remained intact, it became useless, because nothing can be done with it. So the only lesson that can be learned from this is that we need to diversify our money into different assets, and bitcoin in this situation could be a good solution, because it can be easily transported even to other countries (which would be difficult to do with money or other assets). Of course, there are risks in bitcoin too, if you urgently need money and you are forced to sell in a bear market, this can also happen, but if in addition to bitcoin you also have stablecoins available, you will avoid this. Title: Re: Bitcoin is risky Post by: Ale88 on August 25, 2024, 01:39:46 AM I just explained to that friend that that is why it requires much attention and studying. I only partially agree with this statement: bitcoin needs a lot of studying if you want to properly understand everything that happens behind the scenes but the reasons that brought Satoshi to create bitcoin are pretty easy to understand and simply based on that, for me, you get to decide whether you want to actually invest in it or not because if you disagree with Satoshi's vision then there is no point in buying bitcoin.Title: Re: Bitcoin is risky Post by: Samlucky O on August 25, 2024, 03:33:57 AM Yeah, it is good we tell people the true nature of bitcoin. Because most people have that notion that bitcoin is a get rich quick scheme where you invest and make alot of profit, some people has also had the information that bitcoin is risky but never knew what makes it risky but telling them the true nature of bitcoin defines a good friend. You can include telling him about the early days of bitcoin when it was less than a cent and how it grew to $73k in the future. how buying and HODLing for long is more important than just thinking about the risk. Although it may be risky since it is volatile, but it's volatile nature make it increase as Time passes by. There is no business that is not risky so bitcoin is not an exception.
Title: Re: Bitcoin is risky Post by: AirtelBuzz on August 25, 2024, 04:52:01 AM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Bitcoin investment is risky due to its volatility. Investors should acknowledge that there are risks involved regardless of whether they invest in any of the coins in the cryptocurrency market. Bitcoin is no exception.New investors should keep in mind that investing in Bitcoin is not a get-rich-quick scheme. Newbies need to be experienced about investing and know about market analysis and market volatility before investing. OP If you are able to explain the difference between bitcoin and altcoin to your friend, he won't consider bitcoin as too risky. We may see in the crypto market Altcoins are more volatile than Bitcoin. Moreover, since the price of Bitcoin has continuously increased since its creation, many people may be tempted to invest in this currency by seeing this trend of price increase. Title: Re: Bitcoin is risky Post by: Wind_FURY on August 25, 2024, 03:13:15 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Bitcoin investment is risky due to its volatility. Investors should acknowledge that there are risks involved regardless of whether they invest in any of the coins in the cryptocurrency market. Bitcoin is no exception. It's absolutely volatile. But if you're merely HODLing Bitcoin with a low time-preference strategy, then would it actually be that risky? https://bitcoin.zorinaq.com/price/ Quote New investors should keep in mind that investing in Bitcoin is not a get-rich-quick scheme. Newbies need to be experienced about investing and know about market analysis and market volatility before investing. OP If you are able to explain the difference between bitcoin and altcoin to your friend, he won't consider bitcoin as too risky. We may see in the crypto market Altcoins are more volatile than Bitcoin. Moreover, since the price of Bitcoin has continuously increased since its creation, many people may be tempted to invest in this currency by seeing this trend of price increase. Or fiat currencies, what they actually are, and the Cabal's predisposition to inflate its supply. I believe that will be enough to make his friend save some percentage of his/her salary in Bitcoin. Title: Re: Bitcoin is risky Post by: doomloop on August 25, 2024, 04:55:10 PM With so many wallet options available that we can use after going through the research process, for us, dealing with technical matters such as transactions has become a common thing to do while getting to know Bitcoin. Meanwhile, the process that you convey is the ease of using Bitcoin, if you choose the wrong wallet, then what we feel is an ease can become a problem. Honestly if you have a bit of bitcoin, then going with something like ledger nano S isn't really that complicated to learn how to use. I normally do not give brand name because that's the only thing that matters, it sounds like marketing and then people ignore your comment when you say it, and because of that I try to avoid it as much as I possibly can and because of that I end up with no brand names normally.However, they are the biggest and by far the best, if you want you can prefer Trezor too, but I do not know many other to be fair. This is why I think it's quite obvious that we should be considering this situation to be as normal as it gets, and we could make a profit whenever we possibly could get something decent for time. Title: Re: Bitcoin is risky Post by: Shadiq on August 25, 2024, 05:30:32 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Bitcoin investment is risky due to its volatility. Investors should acknowledge that there are risks involved regardless of whether they invest in any of the coins in the cryptocurrency market. Bitcoin is no exception.New investors should keep in mind that investing in Bitcoin is not a get-rich-quick scheme. Newbies need to be experienced about investing and know about market analysis and market volatility before investing. OP If you are able to explain the difference between bitcoin and altcoin to your friend, he won't consider bitcoin as too risky. We may see in the crypto market Altcoins are more volatile than Bitcoin. Moreover, since the price of Bitcoin has continuously increased since its creation, many people may be tempted to invest in this currency by seeing this trend of price increase. First of all don't call Bitcoin an Altcoin, it's misleading. Bitcoin's price recovery sets it apart from all other altcoins. Yes, like Altcoins, Bitcoin also has risks as both markets are equally volatile. But you need to understand that market volatility is not the reason for risk, a coin becomes risky considering price recovery. If you plan on Bitcoin long term, I can almost guarantee that Bitcoin is not risky for you. I can't make such a guarantee on any other crypto, I can only question whether anyone else would dare to. But if you plan on Bitcoin short-term, its use is more likely to be similar to other cryptos. There is no mistaking that Bitcoin is risky in the short term. Title: Re: Bitcoin is risky Post by: letteredhub on August 25, 2024, 06:39:10 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. For we that have been in the crypto community for some time now we will be able to well appreciate the volatility of bitcoin when compared to altcoins for us to say bitcoin is less risk or no risky to an extend base on how you go about it with investing in it. The knowledge we already have makes us to know how to navigate around the risk which those outside are scared of due to their ignorance and shitty talks they get from bitcoin haters. With how viral the word bitcoin has gone there's no much need stressing on convincing anyone about investing, it's about them doing their own research and getting back with whatever choice they make after that.Title: Re: Bitcoin is risky Post by: hyudien on August 25, 2024, 08:27:13 PM Yeah, it is good we tell people the true nature of bitcoin. Because most people have that notion that bitcoin is a get rich quick scheme where you invest and make alot of profit, some people has also had the information that bitcoin is risky but never knew what makes it risky but telling them the true nature of bitcoin defines a good friend. You can include telling him about the early days of bitcoin when it was less than a cent and how it grew to $73k in the future. how buying and HODLing for long is more important than just thinking about the risk. Although it may be risky since it is volatile, but it's volatile nature make it increase as Time passes by. There is no business that is not risky so bitcoin is not an exception. Everything has its risks, right? If people still think Bitcoin is very dangerous, high risk or other negative things then they will never succeed in investing in any asset even though the risk level is low. It is very difficult to convince them like the Chinese proverb (https://secrettruthoflife.com/2013/09/27/the-story-of-the-frog-in-the-well/) where there is a frog sitting at the bottom of a well looking up at the sky through the circle of the well and he thinks that the sky is only that wide. But in reality he does not know if he does not rise to the surface. Even if he sees Bitcoin from a small perspective, he will not know how wide and big Bitcoin will be in the future. 🤫https://www.talkimg.com/images/2024/08/25/9UIdN.png Title: Re: Bitcoin is risky Post by: Viscore on August 25, 2024, 09:45:58 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Why will I lie about crypto? I'm going to tell anyone I'm introducing to crypto everything they need to know, and then it’s left for them to invest or not. I can’t lie to anyone just because I want them to invest, if they join and things don’t go well, I'm going to be blamed for that, and I will end up being a bad person to those people, so it’s just better if I tell them the truth. Yes, I know crypto is risky, but all investment is risky, and not only crypto, so any investment you trying to venture into has risk involved in it. If I tell anyone about bitcoin, if they are interested in it, then it’s fine, and if they are not interested, that’s their problem, I can’t force anyone to invest. Bitcoin is indeed more risky than other investments. But you know what, the more risky it gets, the bigger possible returns in the future, and that's actually possible with bitcoin if you only know how to manage those risks and make it as your advantage. Title: Re: Bitcoin is risky Post by: kawetsriyanto on August 25, 2024, 11:15:54 PM It's absolutely volatile. But if you're merely HODLing Bitcoin with a low time-preference strategy, then would it actually be that risky? Bitcoin price is surely volatile. There is no doubt and no debate about it.https://bitcoin.zorinaq.com/price/ Factors influence volatility https://talkimg.com/images/2024/08/26/9adNN.jpeg investopedia (https://www.investopedia.com/articles/investing/052014/why-bitcoins-value-so-volatile.asp#:~:text=If%20you're%20looking%20to,are%20to%20make%20any%20gains.) Regarding how risky it is, it will depend on the holder's capability and what investment type to choose (short or long term). For the long term holding, I think we agree that Bitcoin investment isn't as risky as people assume. According the price growth history, Bitcoin never lied us to keep growing very well. People who assume it is too/very risky, they probably don't learn the Bitcoin price history yet. Bitcoin is indeed more risky than other investments. What other investments do you refer to?I don't think so. Bitcoin even becomes the most profitable asset if we compared with others assets/investments. Kindly check again the data of the research: https://smartvalor.com/sv/news/bitcoin-traditional-assets Bitcoin return compared to traditional assets https://talkimg.com/images/2024/08/26/9aXu9.jpeg Title: Re: Bitcoin is risky Post by: ThemePen on August 26, 2024, 12:33:45 AM Yeah, it is good we tell people the true nature of bitcoin. Because most people have that notion that bitcoin is a get rich quick scheme where you invest and make alot of profit, some people has also had the information that bitcoin is risky but never knew what makes it risky but telling them the true nature of bitcoin defines a good friend. You can include telling him about the early days of bitcoin when it was less than a cent and how it grew to $73k in the future. how buying and HODLing for long is more important than just thinking about the risk. Although it may be risky since it is volatile, but it's volatile nature make it increase as Time passes by. There is no business that is not risky so bitcoin is not an exception. I totally agree with you. We need to tell people truth about Bitcoin. Many think it is way to get rich fast but that is not true. We need to explain risks so they understand. Sharing Bitcoin story how it started small and grew big can help. We should encourage people to invest for long term not just think about risks. Bitcoin value can go up and down but that is what makes it grow over time. Every investment has risks but Bitcoin rewards can be big. By being honest about Bitcoin we can help others make smart choices and benefit from this new technology.Title: Re: Bitcoin is risky Post by: uneng on August 26, 2024, 01:03:52 AM Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. Cryptocurrencies are volatile, but at same time Bitcoin has been performing nicely on long run, so it's a good indicative in the end. You can defend Bitcoin without lying, just by showing people the evidences which corroborate to the points you are trying to make. It's just important to let it very clear that each investor is responsible for his own decisions and outcomes. You can't be blamed for anything futurely if a friend of yours decided investing in Bitcoin after talking to you regards this subject, because after all it was his personal choice.Title: Re: Bitcoin is risky Post by: ChiBitCTy on August 26, 2024, 01:22:40 AM One big problem with bitcoin, and it certainly seems to be one in this thread from all the posts I’ve been reading, is that too many people just equate Bitcoin with and investment, rather than looking at it as a digital currency, a breakthrough technology that utilizes a decentralized ledger, the blockchain, that could change many aspects in the way of how we transact (among other things). This is what we should be discussing.
Title: Re: Bitcoin is risky Post by: SickDayIn on August 26, 2024, 03:12:38 AM This is a good opportunity to educate your friend. Crypto only appears volatile because the fiat within which it is traded for and paired with, has inherent weaknesses. Crypto does move regularly on a daily basis, because it's a 24/7 market with no rules or circuit breakers. The week by week progression of crypto is a better indication.
Title: Re: Bitcoin is risky Post by: tottong on August 26, 2024, 03:33:58 AM Cryptocurrencies are volatile, but at same time Bitcoin has been performing nicely on long run, so it's a good indicative in the end. You can defend Bitcoin without lying, just by showing people the evidences which corroborate to the points you are trying to make. It's just important to let it very clear that each investor is responsible for his own decisions and outcomes. You can't be blamed for anything futurely if a friend of yours decided investing in Bitcoin after talking to you regards this subject, because after all it was his personal choice. Everyone has responsibility for the decisions they make and it should not affect the attitude of others. Explaining the function and benefits of investing to people is quite risky and when the dreams or hopes they want do not come true then they will try to blame us. Investments must be carried out responsibly and anyone who wants to get involved in it must try to understand how to run investments properly. In the end every decision must be seen from the ability to be responsible because investment requires money to run. If you intend to teach people to invest then they should be prepared for all the risks that will occur. Although if you pay attention to bitcoin has made quite rapid progress, we need to provide the right education to run it. Title: Re: Bitcoin is risky Post by: bubilas on August 26, 2024, 06:50:54 AM This is a good opportunity to educate your friend. Crypto only appears volatile because the fiat within which it is traded for and paired with, has inherent weaknesses. Crypto does move regularly on a daily basis, because it's a 24/7 market with no rules or circuit breakers. The week by week progression of crypto is a better indication. The main thing is not to forget that in the cryptocurrency market you can significantly reduce your deposit, so it is better not to forget the main rule: "buy low, sell high". After all, psychologically we all really like to follow the crowd, and "be the last to board the rocket". And in the crypto market, it is important to have your own opinion, and it does not necessarily coincide with the opinion of the crowd. Title: Re: Bitcoin is risky Post by: Wind_FURY on August 26, 2024, 07:50:27 AM It's absolutely volatile. But if you're merely HODLing Bitcoin with a low time-preference strategy, then would it actually be that risky? Bitcoin price is surely volatile. There is no doubt and no debate about it.https://bitcoin.zorinaq.com/price/ Factors influence volatility https://talkimg.com/images/2024/08/26/9adNN.jpeg investopedia (https://www.investopedia.com/articles/investing/052014/why-bitcoins-value-so-volatile.asp#:~:text=If%20you're%20looking%20to,are%20to%20make%20any%20gains.) Regarding how risky it is, it will depend on the holder's capability and what investment type to choose (short or long term). For the long term holding, I think we agree that Bitcoin investment isn't as risky as people assume. According the price growth history, Bitcoin never lied us to keep growing very well. People who assume it is too/very risky, they probably don't learn the Bitcoin price history yet. Plus it's not merely about the length of holding, or about the time-preference. It's also about Bitcoin as new technology and its potential to change the world by leading a new surge in a new kind of asset class. The invention of Bitcoin might be something parallel to the invention of the printing press, radio, the telephone, and the internet which changed the world in their own ways, giving new paths of possibilities. It might be "too risky", but it's a risk that should be taken that would move us forward in my personal opinion. Title: Re: Bitcoin is risky Post by: Sebas.tian on August 26, 2024, 08:32:26 AM Quote from: Samlucky O Yeah, it is good we tell people the true nature of bitcoin. Because most people have that notion that bitcoin is a get rich quick scheme where you invest and make alot of profit, some people has also had the information that bitcoin is risky but never knew what makes it risky but telling them the true nature of bitcoin defines a good friend. You can include telling him about the early days of bitcoin when it was less than a cent and how it grew to $73k in the future. how buying and HODLing for long is more important than just thinking about the risk. Although it may be risky since it is volatile, but it's volatile nature make it increase as Time passes by. There is no business that is not risky so bitcoin is not an exception. Once you speak the true nature of Bitcoin to people around you or to those people you want to impact about Bitcoin, it will make them comfortable to take the risk to embrace the Bitcoin, because there is a benefits to those that will be able to take the risk to invest their funds. If you can be able to explain the bullish season and bearish season to such people, I think they will not ignore your Bitcoin explanation, because they will understand that, if they purchase Bitcoin during the bearish season and hold for long, it will make them to like the risk involved in Bitcoin. Every good investment has risk which people must undergo before they can achieve what they want from the investment which is the same thing with Bitcoin investment, because you need to embrace the risk to be able to succeed in the bullish season. Title: Re: Bitcoin is risky Post by: summonerrk on August 26, 2024, 11:31:30 AM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Many people discuss that Bitcoin provides an excellent way to multiply the deposit: I am talking about compound interest. I mean that if you buy cheap and sell expensive several times, your deposit will multiply, no matter what its size. But few people think that if a trader does not guess the price movement several times, he will also lose in percentage of his deposit and this is a big risk. Title: Re: Bitcoin is risky Post by: Marvell1 on August 26, 2024, 12:59:41 PM One big problem with bitcoin, and it certainly seems to be one in this thread from all the posts I’ve been reading, is that too many people just equate Bitcoin with and investment, rather than looking at it as a digital currency, a breakthrough technology that utilizes a decentralized ledger, the blockchain, that could change many aspects in the way of how we transact (among other things). This is what we should be discussing. In today's modern world, when everything is valued in terms of money, people without money will not be respected and will find it difficult to survive. So there is nothing wrong with people focusing on exploiting the volatility aspect of bitcoin to make a profit. In your opinion, is money more important or is your privacy more important? If you don't have money, no one will care or notice whether you live or die, let alone care about your privacy. I know and everyone knows bitcoin was created to be a currency, a peer to peer payment method but we should adapt to the current situation instead of trying to fight it because that will not benefit us. Also, it doesn't matter what bitcoin is, what matters is that it benefits people even as an investment. Bitcoin is doing so well because it can help many people improve their lives. Is that not enough? Title: Re: Bitcoin is risky Post by: benalexis12 on August 26, 2024, 04:04:23 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. If we only focus on Bitcoin, it is normal to be risky because it is a volatile asset, but just remember that even though Bitcoin is volatile, there are many opportunities to profit from this thing. But that's not that easy because you still need knowledge of trading. Because you know that being a trader, you must have an idea or know that it's not possible just because someone said this, that's what you'll believe because you don't know anything and you'll just rely on luck, because if you or they do something like this, it will come out that will only take you to Fomo for sure in the end. Title: Re: Bitcoin is risky Post by: lixer on August 26, 2024, 05:28:33 PM One big problem with bitcoin, and it certainly seems to be one in this thread from all the posts I’ve been reading, is that too many people just equate Bitcoin with and investment, rather than looking at it as a digital currency, a breakthrough technology that utilizes a decentralized ledger, the blockchain, that could change many aspects in the way of how we transact (among other things). This is what we should be discussing. Yes, this can be a really debatable topic as Bitcoin's popularity grows and more people become aware of the coin. Hence, it is becoming a great source of future investment and like a savings project. Considering Bitcoin's past and present performance, people are increasingly leaning towards holding Bitcoin for the long term and maximizing its benefits.I fear that if bitcoins start to be stored, the daily transactions of bitcoins will be reduced to nothing and everyone will save their bitcoins. People seem to be drifting away from the real purpose of Bitcoin's creation. And there is a need to explain the real purpose of Bitcoin to people because a machine no matter how valuable it is if it is not used for the purpose it is designed for, one day it will be useless. Title: Re: Bitcoin is risky Post by: kawetsriyanto on August 26, 2024, 11:56:44 PM Plus it's not merely about the length of holding, or about the time-preference. It's also about Bitcoin as new technilogy and its potential to change the world by leading a new surge in a new kind of asset class. The invention of Bitcoin might be something parallel to the invention of the printing press, radio, the telephone, and the internet which changed the world in their own ways, giving new paths of possibilities. Exactly. If we are talking about Bitcoin, we don't only focus on holding or investing. We also should realize about the potential of Bitcoin as a new technology. Even Satoshi didn't make Bitcoin for investment tool, he made it for an alternative way of digital currency. Sure, we are here to support the change of the world through Bitcoin/crypto. Since there is a country that already makes it as legal tender, it will be easier to achieve the Bitcoin goal. I got your point that it is not only about investment purpose but it is also about Bitcoin adoption in every field of life.It might be "too risky", but it's a risk that should be taken that would move us forward in my personal opinion. If we want to succeed, we must deal with the risk. Investing in Bitcoin with high volatility is no doubt quite risky. But if we consider the price growth in the long run, we must be aware that Bitcoin isn't too risky as people think. ;)I fear that if bitcoins start to be stored, the daily transactions of bitcoins will be reduced to nothing and everyone will save their bitcoins. People seem to be drifting away from the real purpose of Bitcoin's creation. Is it possible that every one only stores it and leads to no Bitcoin transaction in the exchanges? ???I think it is unlikely to happen. There will be always Bitcoin transactions in the exchanges, no every single Bitcoiner keeps it as a long term holding. Title: Re: Bitcoin is risky Post by: Sonia_123 on August 27, 2024, 01:55:50 AM He was confused at first because he heard that it was unstable and risky. You can enlighten him more by telling him that fortunately, with time, Bitcoin has less volatile price than past years and previous market cycles.Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. https://pbs.twimg.com/media/GIQMDJCaQAAeBCM?format=png&name=medium Correction drawdowns in Bull markets become smaller with time. https://studio.glassnode.com/workbench/bf532ce2-a66b-4798-6deb-bf3ba7decc59 Title: Re: Bitcoin is risky Post by: tottong on August 27, 2024, 03:01:26 AM It might be "too risky", but it's a risk that should be taken that would move us forward in my personal opinion. If we want to succeed, we must deal with the risk. Investing in Bitcoin with high volatility is no doubt quite risky. But if we consider the price growth in the long run, we must be aware that Bitcoin isn't too risky as people think. ;)Without taking risks we will never know the level of success we will run, but that does not mean that the risk is not calculated at the beginning. Bitcoin volatility is indeed quite risky to lose, but this volatility can also provide a commensurate return if the investment is carried out correctly. When it comes to the long term, the resulting risk will not affect anything if people understand the process of bitcoin itself. I fear that if bitcoins start to be stored, the daily transactions of bitcoins will be reduced to nothing and everyone will save their bitcoins. People seem to be drifting away from the real purpose of Bitcoin's creation. Is it possible that every one only stores it and leads to no Bitcoin transaction in the exchanges? ???I think it is unlikely to happen. There will be always Bitcoin transactions in the exchanges, no every single Bitcoiner keeps it as a long term holding. There are hundreds or even thousands of people involved in bitcoin so it is impossible for transactions on the exchange not to run. If not, the exchange will not operate properly because there is no balance between buying and selling, this is a simple thought of every product produced where the product must continue to run. Moreover, not everyone does long-term holding because traders have a certain time period to engage in trading. Title: Re: Bitcoin is risky Post by: EarnOnVictor on August 27, 2024, 03:44:10 AM He was confused at first because he heard that it was unstable and risky. You can enlighten him more by telling him that fortunately, with time, Bitcoin has less volatile price than past years and previous market cycles.Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. https://pbs.twimg.com/media/GIQMDJCaQAAeBCM?format=png&name=medium Correction drawdowns in Bull markets become smaller with time. https://studio.glassnode.com/workbench/bf532ce2-a66b-4798-6deb-bf3ba7decc59 Bitcoin when it was low in price and has a low market cap is different from when the price is now high with over $1.2T market capitalization. No doubt that Bitcoin will continue to attract more investors where the economics of demand and supply will continue to play out but the pace will not be about doubling, tripling etc of the current price and market capitalisation as people believe. It took Bitcoin over a decade to achieve the current market cap, do you think Bitcoin will do a miracle to at least double that high liquidity? We should not deceive ourselves, there will be some negative surprises and disappointment for sure especially if people have too much expectation on the coin. Title: Re: Bitcoin is risky Post by: FinePoine0 on August 27, 2024, 05:10:13 AM Bitcoin is always more bullish, you will notice that Bitcoin has been between $65k and $60k for a long time. But we see the Bitcoin halving cycle starting in 2025 as the Bitcoin peak bull run begins, and now is just the moment before the Bitcoin price spikes. So if you look at the current price of Bitcoin, you can definitely see the rules. Because the price of Bitcoin will hit it's highest due to which current dumping is going on in the Bitcoin market this may be the last opportunity for investors to invest. So one should never despair seeing this bitcoin dumping as there is a bull market signal to follow.
Title: Re: Bitcoin is risky Post by: Wind_FURY on August 27, 2024, 06:22:30 AM Plus it's not merely about the length of holding, or about the time-preference. It's also about Bitcoin as new technilogy and its potential to change the world by leading a new surge in a new kind of asset class. The invention of Bitcoin might be something parallel to the invention of the printing press, radio, the telephone, and the internet which changed the world in their own ways, giving new paths of possibilities. Exactly. If we are talking about Bitcoin, we don't only focus on holding or investing. We also should realize about the potential of Bitcoin as a new technology. Even Satoshi didn't make Bitcoin for investment tool, he made it for an alternative way of digital currency. Sure, we are here to support the change of the world through Bitcoin/crypto. Since there is a country that already makes it as legal tender, it will be easier to achieve the Bitcoin goal. I got your point that it is not only about investment purpose but it is also about Bitcoin adoption in every field of life. But because Bitcoin is ground-breaking technology, HODLing it those units in the blockchain as an "investment" SHOULD BE an understandable side-effect. I believe those people who tell everyone that Bitcoin shouldn't be HODLed are merely saying that. They actually don't want to put some of their savings in Bitcoin, and watch its value grow? OK, the can save their salaries in fiat. ¯\_(ツ)_/¯ Quote It might be "too risky", but it's a risk that should be taken that would move us forward in my personal opinion. If we want to succeed, we must deal with the risk. Investing in Bitcoin with high volatility is no doubt quite risky. But if we consider the price growth in the long run, we must be aware that Bitcoin isn't too risky as people think. ;) I fear that if bitcoins start to be stored, the daily transactions of bitcoins will be reduced to nothing and everyone will save their bitcoins. People seem to be drifting away from the real purpose of Bitcoin's creation. Is it possible that every one only stores it and leads to no Bitcoin transaction in the exchanges? ??? I think it is unlikely to happen. There will be always Bitcoin transactions in the exchanges, no every single Bitcoiner keeps it as a long term holding. To the users who don't want to HODL Bitcoin because "it's not its real purpose", where do you store your savings? 🤔 Title: Re: Bitcoin is risky Post by: kawetsriyanto on August 27, 2024, 11:56:01 PM Without taking risks we will never know the level of success we will run, but that does not mean that the risk is not calculated at the beginning. Even if we didn't do it, we can know the level of the risk through learning on some sources. There are many articles or videos that explaining the level of investment. However, it is impossible to succeed if we don't take the risks.Bitcoin volatility is indeed quite risky to lose, but this volatility can also provide a commensurate return if the investment is carried out correctly. When it comes to the long term, the resulting risk will not affect anything if people understand the process of bitcoin itself. The volatility in Bitcon can be bad or good side in Bitcoin investment. It is bad because people may panic when the price drops significantly. People who don't understand it, they may decide selling for losses. But it can be good thing for the people who understand Bitcoin price cycle. It has a cycle that provide for the bullrun-bearish season. People can take advantage of its price volatility through those seasons. There are hundreds or even thousands of people involved in bitcoin so it is impossible for transactions on the exchange not to run. You're right. We have many people involved in Bitcoin. Some of them can be traders of Bitcoin, they are not holding but trading Bitcoin. The exchanges are made for them, for a place of trading. I'm very sure people don't only take advantage by holding Bitcoin but they also earn profits by trading the Bitcoin.If not, the exchange will not operate properly because there is no balance between buying and selling, this is a simple thought of every product produced where the product must continue to run. Moreover, not everyone does long-term holding because traders have a certain time period to engage in trading. Yep. This is what I exactly stated in my previous post.To the users who don't want to HODL Bitcoin because "it's not its real purpose", where do you store your savings? 🤔 Those people may have no purpose for savings in Bitcoin, they invest in Bitcoin. ;DMost people will concern more on the possibility of earning money. Many people don't really care about the real purpose of Bitcoin. As long as they can earn money by holding or trading Bitcoin, they will keep doing it. Title: Re: Bitcoin is risky Post by: tottong on August 28, 2024, 04:25:41 AM Even if we didn't do it, we can know the level of the risk through learning on some sources. There are many articles or videos that explaining the level of investment. However, it is impossible to succeed if we don't take the risks. The volatility in Bitcon can be bad or good side in Bitcoin investment. It is bad because people may panic when the price drops significantly. People who don't understand it, they may decide selling for losses. But it can be good thing for the people who understand Bitcoin price cycle. It has a cycle that provide for the bullrun-bearish season. People can take advantage of its price volatility through those seasons. The risk will be very proportional to knowledge so that someone can minimize it according to the resulting process. Now there are many learning methods that we can learn and the openness of information in any media allows someone to learn to understand better. Greed and panic are things that need to be avoided because they can endanger the investment made. Volatility also has a positive side when people understand the journey of bitcoin because people can take advantage of the decline to make purchases and vice versa can take advantage of the perfect increase to generate appropriate returns. If it can be utilized then we agree that Volatility will be something more positive in its journey. Quote You're right. We have many people involved in Bitcoin. Some of them can be traders of Bitcoin, they are not holding but trading Bitcoin. The exchanges are made for them, for a place of trading. I'm very sure people don't only take advantage by holding Bitcoin but they also earn profits by trading the Bitcoin. If this does not happen then the exchange will not be able to develop as big as it is now because they need to match the trading pattern, both buying and selling.Everyone has different investment steps and sometimes they hold and sometimes they sell. Although in our understanding who do not really understand trading consider holding bitcoin in the long term is a good choice. But for those who understand trading and have the courage, trading is definitely the best way to make money. It's just a different pattern and that's why there are many ways to make money in bitcoin and it really depends on how someone can take advantage of opportunities. Title: Re: Bitcoin is risky Post by: jasonjm on August 28, 2024, 06:18:24 AM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. Bitcoin investment is risky, and so is any other kind of investment (stocks, property, etc.). Bitcoin is highly volatile but will give you good ROI compared to any other investment. Bitcoin is giving people an ideal opportunity to get rich in the next few years; just trust the process and be patient. The long-term investment in Bitcoin is less riskier than trading and short-term profit earning. The best option for you is to refer to some sources of information explaining BTC's progress over the years compared to other classes of assets and let them decide for themselves. Title: Re: Bitcoin is risky Post by: Wind_FURY on August 28, 2024, 10:01:04 AM To the users who don't want to HODL Bitcoin because "it's not its real purpose", where do you store your savings? 🤔 Those people may have no purpose for savings in Bitcoin, they invest in Bitcoin. ;D Most people will concern more on the possibility of earning money. Many people don't really care about the real purpose of Bitcoin. As long as they can earn money by holding or trading Bitcoin, they will keep doing it. You may call it "saving" or "investing", but it's not the HODLers' fault if Bitcoin's value is always going up, WHICH makes it a preferable Store Of Value, an asset for savings, or an "investment"? It's the fault of the Central Banking scheme, or scam, and their endless money-printing. 8) Plus it may not only be "saving" or "investing", it may also be called "hedging" against the legacy financial system. ¯\_(ツ)_/¯ Title: Re: Bitcoin is risky Post by: Smartvirus on August 28, 2024, 10:16:12 AM He was confused at first because he heard that it was unstable and risky. You can enlighten him more by telling him that fortunately, with time, Bitcoin has less volatile price than past years and previous market cycles.Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. https://pbs.twimg.com/media/GIQMDJCaQAAeBCM?format=png&name=medium Correction drawdowns in Bull markets become smaller with time. https://studio.glassnode.com/workbench/bf532ce2-a66b-4798-6deb-bf3ba7decc59 The dumps, corrections, pullbacks is sadly not considers in this plan and when Bitcoin starts retracing even before it advances, you find them panicking. This is what leads to panic sales, no proper information and plan that covers the event of a bearish move. However, the chart as presented in quote shows a relative consistency in growth through the times and the people that are at the top of the benefits are those that have been hodling Bitcoin through these times. That’s what newbie investors should be looking to do, DCA and hodl for a longer time. Title: Re: Bitcoin is risky Post by: Wind_FURY on August 28, 2024, 01:26:31 PM He was confused at first because he heard that it was unstable and risky. You can enlighten him more by telling him that fortunately, with time, Bitcoin has less volatile price than past years and previous market cycles.Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. https://pbs.twimg.com/media/GIQMDJCaQAAeBCM?format=png&name=medium Correction drawdowns in Bull markets become smaller with time. https://studio.glassnode.com/workbench/bf532ce2-a66b-4798-6deb-bf3ba7decc59 This happens to be true eventually, people come into Bitcoin investment without having a definite plan on ground. At most, they just invest and start hoping to see a pump, take profit and get out. That’s the plan for most of these newbie investors (not referring to forum ranks). The dumps, corrections, pullbacks is sadly not considers in this plan and when Bitcoin starts retracing even before it advances, you find them panicking. This is what leads to panic sales, no proper information and plan that covers the event of a bearish move. However, the chart as presented in quote shows a relative consistency in growth through the times and the people that are at the top of the benefits are those that have been hodling Bitcoin through these times. That’s what newbie investors should be looking to do, DCA and hodl for a longer time. Or without the proper education and without a deeper understanding of what Bitcoin might be and its importance in a world where our money is controlled by the Cabal behind the Central Banks. But many of those people who merely want to take profit and get out will definitely learn the hard way, and feel very VERY disappointed in 15 to 20 years, when they remember that what they merely had to do was accumulate and HODL. Title: Re: Bitcoin is risky Post by: Peanutswar on August 28, 2024, 01:36:11 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. People deceive by what they see on different social media platforms how do the influencers and crypto referral people engage with the cryptocurrency so they can earn a lot to their followers as their benefit at the same time, some of those say that they can earn here with free money with a casual gain income but once they joined already and get overcommitted and they make a mistake due to lack of knowledge now they will realize that once you join in crypto not all the time you've got earning is assured. All time and effort will be given just to make sure the spot with a good project and of course how does the market move if they want to make an investment. Frankly I always tell to those newbie have a bigger sight with the crypto it could be a life changing it depends how you handle in the situation if your asset. Title: Re: Bitcoin is risky Post by: Smartvirus on August 28, 2024, 06:25:28 PM But many of those people who merely want to take profit and get out will definitely learn the hard way, and feel very VERY disappointed in 15 to 20 years, when they remember that what they merely had to do was accumulate and HODL. Of course they will eventually. You know, when we talk 15 - 20years, it might seem so long a time well, it practically is. Judging from a point of your age at the time but the thing about investments is, it’s for a lifetime and you can actually transfer it to your kids or it’s form to what gives you comfort. I think that would be a more sustainable way to take profit no matter your age and the limitations it might come with.The charts says it all, it’s doable and it’s profitable with time. You don’t get a better chance by procrastinating on investment or investing in the future. The time is actually now! Title: Re: Bitcoin is risky Post by: Wind_FURY on August 29, 2024, 06:08:34 AM But many of those people who merely want to take profit and get out will definitely learn the hard way, and feel very VERY disappointed in 15 to 20 years, when they remember that what they merely had to do was accumulate and HODL. Of course they will eventually. You know, when we talk 15 - 20years, it might seem so long a time well, it practically is. Judging from a point of your age at the time but the thing about investments is, it’s for a lifetime and you can actually transfer it to your kids or it’s form to what gives you comfort. I think that would be a more sustainable way to take profit no matter your age and the limitations it might come with. The charts says it all, it’s doable and it’s profitable with time. You don’t get a better chance by procrastinating on investment or investing in the future. The time is actually now! BUT, to put it in the HODLer's viewpoint - in that 15 to 20 years, compare the "active traders" and the mere HODLer, then check their wallets and actually SEE who has actually made life-changing profit and who has ZERO. I truly believe that there's a much higher probability for Bitcoin HODLers to make life-changing profit because MOST of those shitcoin blockchains will NOT continue to exist because of the design decisions made by their "developers". Bitcoin is designed to keep chugging along, producing block after block for DECADES. Title: Re: Bitcoin is risky Post by: Yatsan on August 29, 2024, 12:26:02 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. The discussion you had with your friend on Bitcoin and crypto is balanced, actually down-to-earth. You mention the volatility and risks around Bitcoin yet point out education and proper judgment; that indeed is a sign of information. It is good to be honest about the state of cryptocurrencies since indeed those are well-known for being volatile. You help paint a correct picture of investment by explaining risks and the need for rational decisions without being openly promotional about Bitcoin. This approach not only will help you meet your friend's expectations but also manifest that you are serious and situation-conscious. If interested, it opens up your willingness to read further and leads into an informed, thoughtful crypto conversation. Title: Re: Bitcoin is risky Post by: Blitzboy on August 29, 2024, 03:59:46 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. People deceive by what they see on different social media platforms how do the influencers and crypto referral people engage with the cryptocurrency so they can earn a lot to their followers as their benefit at the same time, some of those say that they can earn here with free money with a casual gain income but once they joined already and get overcommitted and they make a mistake due to lack of knowledge now they will realize that once you join in crypto not all the time you've got earning is assured. All time and effort will be given just to make sure the spot with a good project and of course how does the market move if they want to make an investment. Frankly I always tell to those newbie have a bigger sight with the crypto it could be a life changing it depends how you handle in the situation if your asset. Thus, avoid being sucked into the hype. Never pursue short gains. Do your research, understand the risks, and think long term. The crypto space moves quickly, hence only informed and ready will flourish. Remember, Bitcoin is the king. That is the real stuff. It is not about becoming wealthy over night, though. It's about realizing the future of money, the need of decentralization, and the revolution in development right before our eyes. Title: Re: Bitcoin is risky Post by: Tmoonz on August 29, 2024, 04:38:36 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. . Undoubtedly, Bitcoin investment can be risky but not as risky as most people may have it, it is always advisable to invest the amount of money that is more like a Left over or disposable income after taken care of our living expenses which is very important and essential, even though we can not completely rely on history which of course has given us so much guides, Bitcoin has proven to be a good coin with a solid foundation which is also meant to reduce the feeling of risk that should attached to it. However, one may not necessarily need to have much of the knowledge before getting involved in Bitcoin since you can learn more while already in the market, what is mostly important is to have the basic knowledge and learn more on your way up. Title: Re: Bitcoin is risky Post by: Zoomic on August 29, 2024, 07:32:08 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. People deceive by what they see on different social media platforms how do the influencers and crypto referral people engage with the cryptocurrency so they can earn a lot to their followers as their benefit at the same time, some of those say that they can earn here with free money with a casual gain income but once they joined already and get overcommitted and they make a mistake due to lack of knowledge now they will realize that once you join in crypto not all the time you've got earning is assured. All time and effort will be given just to make sure the spot with a good project and of course how does the market move if they want to make an investment. Frankly I always tell to those newbie have a bigger sight with the crypto it could be a life changing it depends how you handle in the situation if your asset. Thus, avoid being sucked into the hype. Never pursue short gains. Do your research, understand the risks, and think long term. The crypto space moves quickly, hence only informed and ready will flourish. Remember, Bitcoin is the king. That is the real stuff. It is not about becoming wealthy over night, though. It's about realizing the future of money, the need of decentralization, and the revolution in development right before our eyes. Bitcoin truly is not an investment for impatient people. Bitcoiners really do not need to prove to everyone that bitcoin is the best. Yea, it might be the best for an investor that knows how to use it and still be an entirely different thing to the other person. People should know everything they need to know about bitcoin before deciding to invest. A one sided testimony might not be helping matters. Title: Re: Bitcoin is risky Post by: Farma on August 30, 2024, 07:51:24 AM Undoubtedly, Bitcoin investment can be risky but not as risky as most people may have it, it is always advisable to invest the amount of money that is more like a Left over or disposable income after taken care of our living expenses which is very important and essential, even though we can not completely rely on history which of course has given us so much guides, Bitcoin has proven to be a good coin with a solid foundation which is also meant to reduce the feeling of risk that should attached to it. However, one may not necessarily need to have much of the knowledge before getting involved in Bitcoin since you can learn more while already in the market, what is mostly important is to have the basic knowledge and learn more on your way up. Every investment certainly has risks in it and to be able to avoid risks, good knowledge is needed about the investment that we will run, because for those who think Bitcoin has risks and they have never studied it, of course they will not dare to try it and invest funds that we can afford if we lose the funds, of course it will be very important because if we invest all the funds we have in an investment and we fail in the investment, of course we will not be able to survive the situation and I also agree with you, we cannot rely on past history that may not be repeated in the future. Having basic knowledge before deciding to invest is of course very important so that when we invest the funds we have, we can properly maintain the wallet key so that we can access the funds we have invested again and the rest we can learn while running the investment.Title: Re: Bitcoin is risky Post by: Wildwest on August 30, 2024, 08:27:37 AM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Bitcoin is the safest place for long-term investment in the online world. I always tell my friends that if you want to change assets in the future, the best choice is Bitcoin. Everyone admits that Bitcoin is a big risk when predictions in the opposite direction do not match our expectations. For me, it only changes once a year, so the future investment in Bitcoin is very feasible. Title: Re: Bitcoin is risky Post by: Altryist on August 30, 2024, 02:18:18 PM The discussion you had with your friend on Bitcoin and crypto is balanced, actually down-to-earth. You mention the volatility and risks around Bitcoin yet point out education and proper judgment; that indeed is a sign of information. It is good to be honest about the state of cryptocurrencies since indeed those are well-known for being volatile. You help paint a correct picture of investment by explaining risks and the need for rational decisions without being openly promotional about Bitcoin. This approach not only will help you meet your friend's expectations but also manifest that you are serious and situation-conscious. If interested, it opens up your willingness to read further and leads into an informed, thoughtful crypto conversation. Title: Re: Bitcoin is risky Post by: Shadiq on August 30, 2024, 06:13:42 PM Bitcoin is the safest place for long-term investment in the online world. I always tell my friends that if you want to change assets in the future, the best choice is Bitcoin. Everyone admits that Bitcoin is a big risk when predictions in the opposite direction do not match our expectations. For me, it only changes once a year, so the future investment in Bitcoin is very feasible. The risk in long term bitcoin is very low, but I think a person should not over invest in bitcoin. Bitcoin is the ideal investment area to invest in. Just because it's long, doesn't mean you should invest all your money in Bitcoin. Such investments are likely to incur losses. Title: Re: Bitcoin is risky Post by: kawetsriyanto on August 30, 2024, 11:07:19 PM Volatility also has a positive side when people understand the journey of bitcoin because people can take advantage of the decline to make purchases and vice versa can take advantage of the perfect increase to generate appropriate returns. If it can be utilized then we agree that Volatility will be something more positive in its journey. The chart (https://bitcointalk.org/index.php?topic=5506553.msg64440613#msg64440613) posted by SquirrelJulietGarden above perfectly described about this. When someone the price history of Bitcoin, they must realize the potential of Bitcoin and won't be afraid to hold Bitcoin for a long term.Everyone has different investment steps and sometimes they hold and sometimes they sell. Although in our understanding who do not really understand trading consider holding bitcoin in the long term is a good choice. It is not a step, but it is people choice in utilizing Bitcoin. Sure, sometimes people trade although they are holding Bitcoin as well. Although someone decide to be a long term holder, it is not impossible that they will trade Bitcoin at any time. Ideally, they must trade because they know how trade properly. Trading Bitcoin will be more secure because even people fail trading it, people can hold it for a long term goal.But for those who understand trading and have the courage, trading is definitely the best way to make money. It is the same as you claim someone is better to invest if he understands more investment. ;DHowever, someone can do both trading and investing together. There is no problem to do both as long as someone has good knowledge. It is not a must to choose one of them. Even, doing both will open up opportunities for more profits. You may call it "saving" or "investing", but it's not the HODLers' fault if Bitcoin's value is always going up ~ Why its the fault of Hodlers? They do the right way, it is nonsense to call "HODLers' fault". :DPlus it may not only be "saving" or "investing", it may also be called "hedging" against the legacy financial system. Yep, you can call whatever it is. But there will be always the risk.Title: Re: Bitcoin is risky Post by: legendbtc on August 31, 2024, 12:19:47 AM The discussion you had with your friend on Bitcoin and crypto is balanced, actually down-to-earth. You mention the volatility and risks around Bitcoin yet point out education and proper judgment; that indeed is a sign of information. It is good to be honest about the state of cryptocurrencies since indeed those are well-known for being volatile. You help paint a correct picture of investment by explaining risks and the need for rational decisions without being openly promotional about Bitcoin. This approach not only will help you meet your friend's expectations but also manifest that you are serious and situation-conscious. If interested, it opens up your willingness to read further and leads into an informed, thoughtful crypto conversation. Many people think that bitcoin is risky because of its high volatility and if one understands its volatility, investing in bitcoin is almost risk-free. That is a misconception, bitcoin has a lot of potential risks that we need to be concerned about. Risks like legality and popularity, it is not globally recognized yet and can be banned at any time. Not to mention it is just a virtual asset based on the internet and storing it can sometimes be considered convenient but potentially risky if the user does not have basic knowledge of security...Overall, investing in bitcoin is not as safe as we think. I still stand by my view on bitcoin, high return high risk, low return low risk. No asset can give high return low risk including bitcoin. Title: Re: Bitcoin is risky Post by: COBRAS on August 31, 2024, 02:48:12 AM Bitcoin like scam investments,but with no way take all money and go with money away from investors.But if someone crack BTC, price drop to 0 in a minutes.Bitcoin have strong security, some other coins not,some people's drain wallets of a users,but users dont know what they use not secure coins before coins go away...
Title: Re: Bitcoin is risky Post by: Rustam Meraj on August 31, 2024, 03:00:51 AM The discussion you had with your friend on Bitcoin and crypto is balanced, actually down-to-earth. You mention the volatility and risks around Bitcoin yet point out education and proper judgment; that indeed is a sign of information. It is good to be honest about the state of cryptocurrencies since indeed those are well-known for being volatile. You help paint a correct picture of investment by explaining risks and the need for rational decisions without being openly promotional about Bitcoin. This approach not only will help you meet your friend's expectations but also manifest that you are serious and situation-conscious. If interested, it opens up your willingness to read further and leads into an informed, thoughtful crypto conversation. Title: Re: Bitcoin is risky Post by: blackberrman on August 31, 2024, 10:47:32 AM Yes it is true that Bitcoin is very profitable while being risky. If we want to beat this risk, we must hold it for a long time.
Title: Re: Bitcoin is risky Post by: fredericktaylor on August 31, 2024, 12:10:55 PM Because Bitcoin's price fluctuates so much, investing in it carries risk just like any other investment. Bitcoin's price is never steady. Once more, investing in Bitcoin has the potential to yield the highest returns because there is always a good moment to make an investment and a proper time to hold and sell it. Because novices who want to invest in bitcoin without knowing the ins and outs of the market are, in my opinion, naturally risk-averse, I believe that bitcoin is a safe place to make investments.
Title: Re: Bitcoin is risky Post by: CageMabok on August 31, 2024, 12:23:43 PM Bitcoin is the safest place for long-term investment in the online world. I always tell my friends that if you want to change assets in the future, the best choice is Bitcoin. Everyone admits that Bitcoin is a big risk when predictions in the opposite direction do not match our expectations. For me, it only changes once a year, so the future investment in Bitcoin is very feasible. The trigger for Bitcoin price changes will always be there every year because it is also related to the panic in the minds of investors and Bitcoin holders in large numbers when they see events that can harm the world's economic sector. However, for investment assets, Bitcoin is clearly an asset that is very worthy to be chosen and owned by everyone who really understands its performance and also really knows about Bitcoin. And for those of you who still give advice to your friends so that they can invest in Bitcoin, you must also explain the level of risk in Bitcoin investment so that they not only have to have capital, but also have a level of knowledge and patience in investing in Bitcoin.Title: Re: Bitcoin is risky Post by: CoinFoxs on August 31, 2024, 01:21:30 PM The risk in long term bitcoin is very low, but I think a person should not over invest in bitcoin. Bitcoin is the ideal investment area to invest in. Just because it's long, doesn't mean you should invest all your money in Bitcoin. Such investments are likely to incur losses. Every business in the world is risk associated and if you earn profit you have to take risks, these risks will make you millionaires or billionaires. So with bitcoin both short term and long term investments are profitable only when you done market analysis before investing the capital amount. It usually depends on your capital amount, if your capital amount is above 100k US dollars then go for short term trading you can easily earn between 1200$ to 1650$ weekly or after 3-4 days as the price is fluctuates daily. Title: Re: Bitcoin is risky Post by: Onyeeze on August 31, 2024, 02:22:31 PM Sure, Bitcoin might be risky, but have you ever tried letting a Tesla drive you around in autopilot mode? Now that’s a thrill ride! Or how about sitting on a Boeing 737 and realizing that sometimes even the skies have their surprises? Compared to that, Bitcoin’s volatility is just a little spice in the investment soup. At least with Bitcoin, you’re in the pilot’s seat—no autopilot required! there is no business without risk and the way I'm seeing things bitcoin is not the worst investment that involve risk but the thing is that we need to understand the procedures of Bitcoin before we invest in it that has been the major lapses many people normally find themselves for bitcoin investment, it is clear and understanding that when you invest in Bitcoin with the understanding which is you have make much inquiring different research concerning Bitcoin you will not consider it any longer as a risk investment based on you have known they advantages and the disadvantages of Bitcoin before you invest the people that consider bitcoin investment as a risk and the people who have not understand it very wellTitle: Re: Bitcoin is risky Post by: Raflesia on August 31, 2024, 04:39:41 PM Because Bitcoin's price fluctuates so much, investing in it carries risk just like any other investment. Bitcoin's price is never steady. Once more, investing in Bitcoin has the potential to yield the highest returns because there is always a good moment to make an investment and a proper time to hold and sell it. Because novices who want to invest in bitcoin without knowing the ins and outs of the market are, in my opinion, naturally risk-averse, I believe that bitcoin is a safe place to make investments. It tends to be more of a trading concept, my friend, compared to investing because after all, for investing in bitcoin, the initial context is definitely only based on the long term, so the current market situation will not have any impact because our goal is not today, especially since we will continue to hold the investment that we make in the end because the goal is for the long term, so why look at market conditions that only make you worry? In addition, buying and selling quickly is also not a context in investing because you buy and sell when you make a profit, even though it is a good thing, but the concept is a trading concept not investment. And you should know that trading and investment are different, even though the context is still in bitcoin as a reference, but they are 2 different things.Title: Re: Bitcoin is risky Post by: Antotena on August 31, 2024, 05:33:16 PM Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. I'm not sure if someone has told you already but next time, use a good caption because your post didn't match your caption. Bitcoin is risky, everybody knows that. The only investment that is not risky in this life is scam and ofcourse, you know the direction where scams goes, you will lose everything while Bitcoin still has the opportunity to give you second chance if the market settle again, when you are scam you are going to lose everything that you have on their scheme. On the introduction of Bitcoin to second party, I think literally everyone knows much about Bitcoin. The aidrops that has been going on the past few months and weeks gave everybody some money to know about crypto and I'm very sure they know how volatile the market is already. Sugar sweeting Bitcoin to anyone right now is a waste of energy and saliva. Title: Re: Bitcoin is risky Post by: Dzwaafu11 on August 31, 2024, 06:10:35 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. Your friend did not see any bad image of bitcoin; what he thinks is real and true. Of course, bitcoin investment is risky, and also the market is unstable (volatility). He heard that the market is very volatile, and there is also a risk that is attached to bitcoin investment. But still, you can defend this because, to me, it is just something simple that everybody knows about bitcoin. You can simply educate him on how to come over these two things he thinks can stop him from investing in bitcoin. You just have to let him know that in every investment there is risk, and one must take risk before being successful in a bitcoin investment. So to me, this is a normal thing that he knows and happens in the crypto space. Also, let him know about the instability of the market, which is the nature of the cryptocurrency market that no one controls. Operating on its own and investing for a long time will make him money after holding for a long time, so he should have no fear about that. Title: Re: Bitcoin is risky Post by: kbhutto on September 01, 2024, 10:26:40 AM Yes, of course there is a risk in every person who wants to make something that makes a big profit and cannot be separated from the word risk. In the real world, if you want to develop, especially be prepared for the risks you will accept, as is the case with Bitcoin. Let's look at bitcoin in general, its value is very high, so we want to put money into investment and if in doubt, switch to property or real assets to make it safer, such as gold and land, there is no risk in investing.
Title: Re: Bitcoin is risky Post by: Churchillvv on September 01, 2024, 10:44:11 AM OP I like the fact that you accept that bitcoin is also a risky investment, apparently everything on earth is risky but it's our choice and duty to chose the type of risk we want to be taking, in the current situation of things inflation has become the biggest risk of all time become whether you're concerned or not it affects you in one way or the other, so perhaps everyone on earth takes risk and investing in bitcoin is quite less risky to other currencies e.g fiat faces inflation in a long term, other cryptocurrencies faces high volatility that could bankrupt you but in bitcoin you have full control of your money and the risk isn't that much if have a good knowledge of how it works which is paramount in every investment including real Estate you must know how they work before you invest in it.
Title: Re: Bitcoin is risky Post by: gunhell16 on September 01, 2024, 11:14:03 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Yes, it is true that investing in Bitcoin is risky, but even so, it is already proven and tested for long-term investment, and most people who try to invest in it know this. And we investors just need to be smart about investing. And it's only right that we remind people who ask us about Bitcoin, so that at least if they try, we don't lack a reminder. Title: Re: Bitcoin is risky Post by: summonerrk on September 02, 2024, 12:46:31 PM Yes, of course there is a risk in every person who wants to make something that makes a big profit and cannot be separated from the word risk. In the real world, if you want to develop, especially be prepared for the risks you will accept, as is the case with Bitcoin. Let's look at bitcoin in general, its value is very high, so we want to put money into investment and if in doubt, switch to property or real assets to make it safer, such as gold and land, there is no risk in investing. Cryptocurrencies are often called high-risk assets, but in fact, we are constantly taking risks. Regular stocks on exchanges are also very risky. They collapse more than many shitcoins, and this is despite the fact that the stocks are backed by physical objects! Therefore, my choice is only Bitcoin. Because I can hold it without intermediaries, and stocks from exchanges do not have this advantage. They are always nominally with an intermediary. Title: Re: Bitcoin is risky Post by: bigvilley on September 02, 2024, 01:14:51 PM I had a similar chat with a friend recently about Bitcoin. They were skeptical because of its reputation for being so unstable. I was tempted to defend it, but honestly, Bitcoin is pretty volatile, and that’s a fact. I just told him straight up that it's not all sunshine and rainbows, and you need to keep an eye on it if you’re involved.
Title: Re: Bitcoin is risky Post by: reagansimms on September 02, 2024, 02:34:38 PM Bitcoin is the safest place for long-term investment in the online world. I always tell my friends that if you want to change assets in the future, the best choice is Bitcoin. Everyone admits that Bitcoin is a big risk when predictions in the opposite direction do not match our expectations. For me, it only changes once a year, so the future investment in Bitcoin is very feasible. The risk in long term bitcoin is very low, but I think a person should not over invest in bitcoin. Bitcoin is the ideal investment area to invest in. Just because it's long, doesn't mean you should invest all your money in Bitcoin. Such investments are likely to incur losses. Title: Re: Bitcoin is risky Post by: Just Say on September 02, 2024, 02:56:17 PM Because Bitcoin's price fluctuates so much, investing in it carries risk just like any other investment. Bitcoin's price is never steady. Once more, investing in Bitcoin has the potential to yield the highest returns because there is always a good moment to make an investment and a proper time to hold and sell it. Because novices who want to invest in bitcoin without knowing the ins and outs of the market are, in my opinion, naturally risk-averse, I believe that bitcoin is a safe place to make investments. The price of every coin in the crypto currency market is associated with volatility i.e. every coin's price fluctuates constantly and no coin's price is stable. Any coin you invest in cryptocurrency involves risk. So if you want to invest, invest by accepting the risk and invest as much as you can afford to lose. Investing in Bitcoin is less risky than investing in other coins. If we are able to buy bitcoins at the right time and hold them for a long time then our success from here may be inevitable. One of the easiest ways to invest in Bitcoin for beginners is the Dollar Cost Averaging method. By adopting this method, you can start your Bitcoin investment journey with a small amount of money and increase it gradually according to your needs. Title: Re: Bitcoin is risky Post by: moneystery on September 02, 2024, 03:29:00 PM bitcoin is risky if someone invests in short-term mode, because the price tends to be unstable and at any time someone can lose a few percent of the value of their investment. and to overcome this, someone needs to invest in a longer period of time, according to the explanation from @squirreljulietgarden that the longer the time bitcoin has less volatile price and that already explains how someone can get maximum profit when they choose to invest in a longer period of time than bitcoin.
Title: Re: Bitcoin is risky Post by: GxSTxV on September 02, 2024, 03:47:36 PM Everyone should do his own research before making any statements, nobody should force anyone else into Crypto or Bitcoin without knowing all the risks, and understanding the market.
For us, the situation is different since we already learned so much about it, we liked the idea of Bitcoin years ago, and most of us have made profits from it, even some of us are rich and made fortunes from it. In case you wanted to teach him and explain everything to your friend, you have to know the amount of responsibility and risk you are taking with him, if he ever invested or anything bad happens in the process. Do not neglect the importance of security and understanding how to protect yourself from hackers, malicious softwares…. Way before going into market volatility and the price change. Title: Re: Bitcoin is risky Post by: Huppercase on September 02, 2024, 04:07:54 PM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Why is this looking irrelevant to me? I don't know why anyone in their right state of mind will want to lie for people to buy or invest in Bitcoin, it's not like they are going to gain something doing that rather they are only giving false hope which in my opinion can back fire if the market doesn't do as he said in the beginning or might turn out well for the person. So there is nothing to lie about to someone buying or investing in Bitcoin just to persuade them. The only thing I can persuade someone to do is to make sure they back up their seed phrase and make sure their coins are been sent to their personal wallet. Those are the mistakes I know might back fire because I have experience a situation where a person bought a coin in his personal wallet and because he was still having access to his wallet through his phone, forgot to back up his wallet and when the phone got stolen, he lost access to his wallet and was sober the whole time. Title: Re: Bitcoin is risky Post by: ringgo96 on September 02, 2024, 04:52:49 PM bitcoin is risky if someone invests in short-term mode, because the price tends to be unstable and at any time someone can lose a few percent of the value of their investment. and to overcome this, someone needs to invest in a longer period of time, according to the explanation from @squirreljulietgarden that the longer the time bitcoin has less volatile price and that already explains how someone can get maximum profit when they choose to invest in a longer period of time than bitcoin. everyone is afraid to take risks, therefore we need the courage to step forward and be ready to accept all the challenges that apply, bitcoin is currently very high in value so that those of us who have capital should invest in the long term because we will definitely feel the benefits even though we have to go through twists and turns but everything will feel comfortable if we have bitcoin, so investing is the solution to increase our assets, and we must always monitor every movement of bitcoin so that our assets can be maintained.Title: Re: Bitcoin is risky Post by: Issa56 on September 02, 2024, 06:03:39 PM bitcoin is risky if someone invests in short-term mode, because the price tends to be unstable and at any time someone can lose a few percent of the value of their investment. If you are ready to hold bitcoin for a long period of time, then I don’t think you are going to lose, as long as the bitcoin is properly stored, then I don’t know how the person is going to lose, and I don’t know if there is any investment in which there is no risk, anything you are investing in, then there is risk involved in it. Most people that do think crypto investment is so risky are the ones that do invest in bitcoin for a short period of time, or the set of people that do invest in shitcoins, but if my money is in bitcoin, then I don’t panic because I know it is secured, and as long as my aim is for the long term, then I don’t have any reason to panic because of price movement. Title: Re: Bitcoin is risky Post by: wahyuagung26 on September 02, 2024, 08:22:39 PM There is no profit without risk, that is the law that applies in investment. When someone cannot bear the risk, then never make an investment, especially Bitcoin investment which is known to be very volatile. Someone who is already familiar with Bitcoin will try to increase the amount of their investment periodically because they believe that the price of Bitcoin will continue to increase in the future. Positive assumptions will always overcome fear, even though investors know there are risks in Bitcoin investments, but Bitcoin's past history makes their confidence grow in the great potential that Bitcoin will produce in the future. Investing in Bitcoin requires using money that is not used for other needs, in this way your investment will be safe because when you need money suddenly, you don't need to ruin your investment plan. Those who do not understand the pattern in Investment will always tend to make mistakes due to several factors that they will face, such as risk and also fear of loss, in fact Investment is one of the risks, including Bitcoin, those who always do not understand the fluctuations that occur will often make mistakes in their Bitcoin Investment. However, it is different from those who have been able to master it well enough, and they will always pocket their Bitcoin and continue to save and persist in choosing the time or waiting for the time for them to get profit or choose to continue adding to their Bitcoin periodically or DCA which is continuously done. Title: Re: Bitcoin is risky Post by: kawetsriyanto on September 02, 2024, 10:23:03 PM Yes it is true that Bitcoin is very profitable while being risky. If we want to beat this risk, we must hold it for a long time. It is not a must to hold a long time. If you don't brave for holding a long term, you can hold it for a short term. It purely depends on your goal. If you don't set a too high profits, you can set for a short term holding. Not every holder hold for a long term, some only hold for a short term. By the way, having good knowledge is the way to deal with the risks.~ there is a risk in every person who wants to make something that makes a big profit and cannot be separated from the word risk. TBH, I'm not really sure your point, dude.However, the risk isn't on the person but it lies on the investment. Expecting for big profits is normal, nothing wrong with this matter. It is only considered a wrong perception if someone expects big profits but he does it in an improper (careless) way. Investing with lack of knowledge is an example of an improper way. There is no way to succeed if we invest with lack of knowledge. Title: Re: Bitcoin is risky Post by: Nothingtodo on September 02, 2024, 10:32:25 PM The more profitable your investment, the riskier your investment is, it is natural and a prerequisite in every investment. The more profitable Bitcoin is, the more risky it is. Sometimes the Bitcoin market gets pumped so much that a lot of profit is made but then the price of the Bitcoin market declines so much that the losses are even bigger than the past profits.
Title: Re: Bitcoin is risky Post by: Farma on September 03, 2024, 05:38:08 AM The more profitable your investment, the riskier your investment is, it is natural and a prerequisite in every investment. The more profitable Bitcoin is, the more risky it is. Sometimes the Bitcoin market gets pumped so much that a lot of profit is made but then the price of the Bitcoin market declines so much that the losses are even bigger than the past profits. It is true that this is very natural, when someone has a large amount of funds to invest, the profit they will get will also be large and of course they have a good understanding of the investment they are running because if they do not understand it well, it is very likely that they will experience a loss on the investment they are running, so it is very important for anyone who wants to invest in Bitcoin to understand how Bitcoin works so that they do not make mistakes in investing and they must also know that the decline in the price of Bitcoin is not a loss experienced by investors because when there is a decline, this condition will be utilized by those who have sufficient funds to buy and hold to make a profit when the price goes up again.Title: Re: Bitcoin is risky Post by: dezoel on September 03, 2024, 05:10:33 PM Undoubtedly, Bitcoin investment can be risky but not as risky as most people may have it, it is always advisable to invest the amount of money that is more like a Left over or disposable income after taken care of our living expenses which is very important and essential, even though we can not completely rely on history which of course has given us so much guides, Bitcoin has proven to be a good coin with a solid foundation which is also meant to reduce the feeling of risk that should attached to it. It's all about doing enough research and understanding everything before one gets involved financially because when you are entering a financial market, you need to understand how things work around it and how to avoid or mitigate the risks involved with trades or whatever you do there. When it comes to the cryptocurrency market, it is extremely volatile and unpredictable, so when someone is starting their journey here, they should do enough research before they begin even if they are going to invest in Bitcoin.Every investment certainly has risks in it and to be able to avoid risks, good knowledge is needed about the investment that we will run Exactly, most newbie investors make the mistake of ignoring the fact that they need to have enough knowledge before they start, so they start buying cryptocurrencies right after hearing about the market because they think it's very easy to earn money from this market which isn't true.Title: Re: Bitcoin is risky Post by: Richbased on September 03, 2024, 05:36:16 PM bitcoin is risky if someone invests in short-term mode, because the price tends to be unstable and at any time someone can lose a few percent of the value of their investment. and to overcome this, someone needs to invest in a longer period of time, according to the explanation from @squirreljulietgarden that the longer the time bitcoin has less volatile price and that already explains how someone can get maximum profit when they choose to invest in a longer period of time than bitcoin. Literally, anyone who is not in for long term hodling should rather not invest in Bitcoin. A valuable asset like Bitcoin shouldn't be used for short term investments. Investing for short term profits is more likely a gamble because of it's volatility, you can buy with the hope that the price will rise but instead it decreases and those short term investors can use out of fear that the price might continue to fall and involve in panic selling which results in losses and since they have short term investment targets it's always difficult for them to HODL when the price is falling due to their impatience, fear and anxiety. Title: Re: Bitcoin is risky Post by: Tmoonz on September 03, 2024, 07:07:17 PM Undoubtedly, Bitcoin investment can be risky but not as risky as most people may have it, it is always advisable to invest the amount of money that is more like a Left over or disposable income after taken care of our living expenses which is very important and essential, even though we can not completely rely on history which of course has given us so much guides, Bitcoin has proven to be a good coin with a solid foundation which is also meant to reduce the feeling of risk that should attached to it. It's all about doing enough research and understanding everything before one gets involved financially because when you are entering a financial market, you need to understand how things work around it and how to avoid or mitigate the risks involved with trades or whatever you do there. When it comes to the cryptocurrency market, it is extremely volatile and unpredictable, so when someone is starting their journey here, they should do enough research before they begin even if they are going to invest in Bitcoin.Every investment certainly has risks in it and to be able to avoid risks, good knowledge is needed about the investment that we will run Exactly, most newbie investors make the mistake of ignoring the fact that they need to have enough knowledge before they start, so they start buying cryptocurrencies right after hearing about the market because they think it's very easy to earn money from this market which isn't true.I don't think investing in Bitcoin requires having enough knowledge, having a basic knowledge of the market dynamics is enough for anyone to start accumulating Bitcoin and figure out other things while already in the market, Bitcoin is a growing asset where new things are prone to be introduced in to the market hence anyone ever considering of getting enough knowledge before venturing in to Bitcoin might end up not investing because he or she may not be satisfied with the knowledge they have and Bitcoin is not going to be waiting for anyone, so the logic should be invest with the money made available for investment and figure out other things on your way up which is far better than wanting to have enough knowledge first before starting up your investment, the DCA strategy of accumulating Bitcoin is a lead of gaining experience investment while already in the market. Title: Re: Bitcoin is risky Post by: _BlackStar on September 03, 2024, 08:01:25 PM -snip- There is no profit without risk, that is the law that applies in investment. When someone cannot bear the risk, then never make an investment, especially Bitcoin investment which is known to be very volatile. Someone who is already familiar with Bitcoin will try to increase the amount of their investment periodically because they believe that the price of Bitcoin will continue to increase in the future. Positive assumptions will always overcome fear, even though investors know there are risks in Bitcoin investments, but Bitcoin's past history makes their confidence grow in the great potential that Bitcoin will produce in the future. Investing in Bitcoin requires using money that is not used for other needs, in this way your investment will be safe because when you need money suddenly, you don't need to ruin your investment plan.Before anyone invests [in anything] they should make a proper plan. This plan includes how you invest your money without ruining your investment plan - meaning you should not invest all the money you have. In this case you need an emergency fund that can prevent you from ruining your investment plan - but I am sure many users ignore this one. Of course, none of you need to be perfect from the start - but over time you have to learn and change your strategic approach to investing. I admit that I made mistakes in the beginning - it was because of my poor money management, but now everything seems to be fine. Title: Re: Bitcoin is risky Post by: Popkon6 on September 04, 2024, 04:09:42 AM bitcoin is risky if someone invests in short-term mode, because the price tends to be unstable and at any time someone can lose a few percent of the value of their investment. and to overcome this, someone needs to invest in a longer period of time, according to the explanation from @squirreljulietgarden that the longer the time bitcoin has less volatile price and that already explains how someone can get maximum profit when they choose to invest in a longer period of time than bitcoin. If you want to invest in bitcoins risk-free, you need to use the DCA strategy. Using the DCA strategy saves on the purchase price, allowing you to invest Bitcoins for several weeks. Because if you use DCA strategy in Bitcoin when the price of Bitcoin is rising you will still get savings, and you will get huge savings with DCA strategy in Deep Coin when Bitcoin price is dumping in Bitcoin market. So I never consider risk to invest in bitcoin, I don't consider much risk in bitcoin investment. Because I participate in Bitcoin investment following DCA strategy and I am able to achieve massive success. Title: Re: Bitcoin is risky Post by: Minor Miner on September 04, 2024, 05:18:40 AM bitcoin is risky if someone invests in short-term mode, because the price tends to be unstable and at any time someone can lose a few percent of the value of their investment. and to overcome this, someone needs to invest in a longer period of time, according to the explanation from @squirreljulietgarden that the longer the time bitcoin has less volatile price and that already explains how someone can get maximum profit when they choose to invest in a longer period of time than bitcoin. If you want to invest in bitcoins risk-free, you need to use the DCA strategy. Using the DCA strategy saves on the purchase price, allowing you to invest Bitcoins for several weeks. Because if you use DCA strategy in Bitcoin when the price of Bitcoin is rising you will still get savings, and you will get huge savings with DCA strategy in Deep Coin when Bitcoin price is dumping in Bitcoin market. So I never consider risk to invest in bitcoin, I don't consider much risk in bitcoin investment. Because I participate in Bitcoin investment following DCA strategy and I am able to achieve massive success. Investing in bitcoin long term or short term has risks, risks not only come from bitcoin volatility but also from many other factors. No investment is without risk, especially investments that can bring high returns will have higher risks, Bitcoin is no exception. DCA and long-term investment is a smart strategy, it gives us the opportunity to achieve high returns and minimize risks, but it cannot guarantee that we will never encounter risks. What would happen to our investments if suddenly governments banned bitcoin en masse? That is also a possible risk. That's just one of many risks, so don't be subjective into thinking that long-term bitcoin investing is risk-free. Title: Re: Bitcoin is risky Post by: Solokan on September 04, 2024, 10:02:04 AM Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. . yes, the point is not lying, of course it is a good thing to explain what bitcoin is and what crypto is and of course if for example you don't explain about the risks of btc and the uses of btc, of course it will make people think of it as an asset that is not risky and can make people rich overnight. yes, indeed for some people who cannot control their emotions, of course it will be difficult when investing in btc because btc has a fluctuating nature which is certainly very dangerous for people who cannot control their emotions. but yes, if for example we explain it honestly, of course it will make people think that btc is an asset that contains risk and of course that person will consider investing in btc because of course they will be ready for the risk of loss and profit and also of course they will be ready for anything caused by btc. it is true that what you said is that the safest investment in crypto is in bitcoin, but yes, we still have to be prepared for the risk before buying btc and of course long-term investment in btc is the best thing and most importantly, continue to increase insight. Title: Re: Bitcoin is risky Post by: summonerrk on September 04, 2024, 11:31:13 AM I had a similar chat with a friend recently about Bitcoin. They were skeptical because of its reputation for being so unstable. I was tempted to defend it, but honestly, Bitcoin is pretty volatile, and that’s a fact. I just told him straight up that it's not all sunshine and rainbows, and you need to keep an eye on it if you’re involved. It is very difficult to convince someone who does not want to develop and learn new information. Especially if it contradicts established views on life. My colleague also says that cryptocurrencies are a financial pyramid. I said that this is not true and asked what are the features of blockchain? He did not know what to answer, because he did not even know such a simple thing as the principles of blockchain technology. I decided not to argue with him further - why do I need it? Everyone has their own path. Title: Re: Bitcoin is risky Post by: Justbillywitt on September 04, 2024, 03:54:12 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. It is wrong to compare bitcoin and crypto together. Bitcoin should be known for bitcoin and separated from whatever shit that are being done out there in the name of crypto currencies. A lot of scams has been done out there in the name of crypto currencies. Many projects has rugged pulled in the name of crypto currencies. But bitcoin hasn't done any of those things. So the earlier we start telling people that bitcoin is different from crypto currencies the better for everyone. And it will also make people start to understand that bitcoin is not as risky as they are seeing it. Yes bitcoin has some associated risk, but it hasn't gone back to the first price it was listed with in exchange, and that's the worst that can happen to bitcoin. In nutshell, bitcoin on it's own is not as risky as you are painting it. The worst that can happen is that bitcoin will go back to zero, that's why people are always encouraged to invest what they can afford to do without for a long time. Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying. Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Title: Re: Bitcoin is risky Post by: Woodie on September 04, 2024, 04:07:28 PM Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not. The sad reality talking about crypto or bitcoin to be particular to total noobs...you are usually put to your defense because so many scams going on everywhere....hackers asking to be paid in BTC, Ransomewares usually asking for BTC etcetera and I personally don't get shocked about people being against BTC for their own valid concerns as lots of lost money to cheap scams.Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. The instability is because of the lack of a centralised player to regulate and keep prices stable...but because it's decentralised and markets never closing it's one reason many overlook for prices constantly changing.Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him. Agreed, but they should not take our word for it without doing their own research because you can't play the blame game were money is involved. |