Bitcoin Forum

The message to newbies has always been the same since the beginning of time. From bitcoin creation to the very time altcoin started to pop up, till the era of NFTs, airdrops and other silly nonsense that shows up to deceive the naive ones. This is the simple message being reiterated -  "Just buy bitcoin and hold your own keys or else you are going to get scammed"

https://www.talkimg.com/images/2023/10/15/RJo2m.jpeg

PS- Image source is from a Telegram group. I don't claim ownership of it.

It is indeed a powerful message and we all should follow it. But my dear friend not all fingers are the same, in the same way, this ecosystem (Earth) is full of different people with different mindsets and different purposes. If one is a businessman then the other is a farmer. Even if they both read in the same school and sat at the same bench. A mindset of a person takes him to where he has planned of. To those who think we thought to become X and become Y, they are just behind time, by making efforts and when the time comes, they will achieve their aim.

Now you must be wondering, why I am saying all this shit, which you might already know about. I am saying it because, if a person on the left (in pic) making different investments and taking risks then it is his choice and the person on the right believes in BTC then he is also taking risks and that is his own choice. We all can't be on the same page and that is the reality of this world. But at least we can try.

Let's say if a person is given two choices of choosing the ordinals or BTC and also taught by two persons, one is ordinal enthusiast who know, that there are people out there who made billions of dollars out of Ordinals and they will teach you how you can earn the same (either they are legit or fake) and at the same time there is a BTC enthusiast who will teach you about BTC and the same things that an ordinals enthusiast will teach you. And then there are many other options that a person has to choose from. What you/person will choose. he will make decisions according to the circumstances he is in.

Hold your own private keys and don't leak it to others. Others include the wallet software builders and anyone who don't trust or don't want them to inherit your bitcoin.

If you use a wallet software that has back doors, you even are not the only one who own private keys of your bitcoin.

Reminder: do not keep your coins in online accounts (https://bitcointalk.org/index.php?topic=5421039.0)

Use wallets are: non custodial, open source and reproducible and already tested by Bitcoin experts.

Check some reviews from reproducible tests.
https://walletscrutiny.com/

This message is the most underated yet most needed message anyone in crypto needs, not to only newbies, including some people that are guilty of safekeeping thier coins on exchange but the thing is, people that wil listen are going to listen, people that will take corrections will take especially the ones that have been affected by quick scam exit, hacks and insider misappropretition of funds like mismanagement and others.

Many people that are guilty of exchange hack and exits, if they know this earlier, they will not have been among the victims. Many of them are running after the next ROI altcoins on exchanges forgeting that chasing money without puting security into consideration is like trying to make money and live it your door step. I wish even the exchange can give warning to the users about how it is unsafe to keep coins with them, this will increased the rate of custodial savings of coins.

You are damn right, even if this statement looks easy to follow but many failed to follow it and lost all of their funds, not only in BTC but in other investments like those made in altcoins, nuts, metaverse-related projects, etc. These investments, no doubt, made many people millionaires overnight, but also made many millionaires poor too. And that also happens in BTC, where if a person bought some BTC and now holding it for like 10 years.

In the way, his BTC would be worth less than the amount he used to buy it and also would be more than that amount. I would say, to add another term of not watching your status if you have planned to do holding then don't look at your holding and how much you are making or losing.

Because, that way, a holder will get into market sentiments, and by becoming emotionally attached to the market, he will make dumb decisions and might lose all of the funds. So the best practice for holders is to keep their funds in a wallet, of which the key you hold, and don't act quickly upon any news regarding to the market.

To be honest if you want to be a crypto-currency enthusiast for a long time then I would say stick with Bitcoin especially if you are the type that can't handle losses. From experience those who are only involved with Bitcoin has lesser risk (not saying the risk is non existence) than those who goes in to other altcoins, projects, platforms.

Yes altcoins may hold opportunities investor yarns for and for a cheap price but the days of ICO or the days of when any shit altcoins was profitable are gone. Bitcoin has all the features to remain ever solid, the only issue holding Bitcoin is holding it properly against hackers, scammers or your own personal incompetence.

Indeed the message is very powerful and it still holds the truth till time. Many shit coins and Cryptos have come and gone but Bitcoin has long been in existence and will still be. The message passed across is so simple and short and does not need much explanations to for clarification. If you want to profit from Bitcoin, buy and hold and take proper security measures to protect your bitcoin by holding in your own personal custody. Make sure you do hold your coin in your own personal wallet or self custodial wallet for a long time. Avoid third party exchanges as they can not guarantee your coin safety.

Bitcoin is a digital crypto currency where there is no fear of being scammed when investing. If any coin is considered the most secure in the crypto world, it is undoubtedly Bitcoin. While people are regularly losing their money investing in other coins, people are sharing success stories investing in Bitcoin. If you want to invest in crypto platform then definitely do it in bitcoin because bitcoin will show you success not failure. And for those who think long-term investment in Bitcoin, remember that anyone who suggests long-term investment to you must have your best interests at heart. If you invest in Bitcoin for long period you will see good amount of profit at the end of long period but the advisor will not come to take your profit share so invest in Bitcoin and hold it for long period.

I like this advise that you are giving to the newbies, those that just joined the forum here. Before I come back to what I intended to talk about, I need the newbies here to learn a lot on this platform. They should take out of their judicious time to tour around this forum and learn, study and understand the intricacies of the Blockchain technology.

This forum is an encyclopedia of topics that ravel around the cryptocurrencies, not Bitcoin alone. But can also serve as a one stop shop for your Bitcoin knowledge. Therefore, I will advise the newbies in this forum to garner more knowledge on here especially at the Beginners and Help (https://bitcointalk.org/index.php?board=39.0) board.

Secondly, I will advise the newbies to also visit www.learnmeabitcoin.com (http://www.learnmeabitcoin.com) and take advantage of the knowledge of Bitcoin that's deposited in that website. A step-by-step knowledge on the basics that everyone need to know as far as Bitcoin is concerned. Including the private key, the public key, seed phrase amongst other numerous topics there.

Lastly, if you will take your time to learn, page-by-page the guides that have beem provided in the website, you will be able to understand why it is not only important but paramount to secure your private key and wouldn't allow it out by any chance. In fact, therein, you're advised the best ways to which you can secure your private key and other technical stuffs included.

Exactly, The Biggest losses I have experienced in this crypto industry when it comes to investment were my investment in altcoin and shitcoins, and that was when I had less information regarding Bitcoin compared to what I know of now, I do think this is the same case story with most newbies that have also lost in one way or the other.

Information is key and this is why most investors who understand this now stick their investment only on Bitcoin or more percentage of their capital into BTC,  it is indeed safer with Bitcoin, just Hodl and have patience.

The message is lacking.  An investors need to learn about Bitcoin and the market movement.  Buying Bitcoin without knowing the market movement may make the investor end up buying at the top price.  This will render them to get paper losses and may take years to recover.  The advice on stashing it on the non-custodial wallet is a great advice but jumping into the Bitcoin market without any strategy or plan in mind may be disastrous if the person is just looking for a short term investment.

I believe the message is very clear - Buy only Bitcoin. But, what are we gonna do with these altcoins like Ethereum and BNB? For newbies, this should be the best option but for us who have been in the crypto market for many years, I don't think we just ignore altcoins. Maybe I was wrong but can't just ignore the fact that some altcoins are more profitable than Bitcoin. For me, altcoins are still a good investment but that is right, we should be careful in choosing them. And it also depends on the time we bought them.

Scams just happen to those who have no knowledge about crypto and those who are greedy. If we know how to secure our funds from the hands of these scammers, they will just fail.

I have enhanced the image for many to see, this should be shared it's a good example of why newbies should just focus on Bitcoin only and forget everything else, newbies keep on supporting these trending coins in the hope that what they failed on Bitcoin as a late investor they can do on these trending coins.

But they are not going to find it on these coins because they are pump and dump coins and they manipulate the price and do rug pull once you hold these coins
A picture really paints a thousand words and this is one of the images of investing only in Bitcoin and not taking chances on trending coins.

Hearing and reading about scammers, some people can think of scammers to be far away. The scammer can be your friend or even family, The scammer can be your mentor or someone you look up to and have made the mistake of trusting them with your keys. The scammer is not only an anonymous individual from somewhere around the world, the scammer can be someone close. If you always remember this, you will know that the only person you can really trust to hold your keys is you.

Let's just say the risk is greater in altcoins than bitcoin, altcoins still have owners while bitcoin does not - this is in my own view.

You are not wrong that actually altcoins are also profitable, but you must know that it cannot be long-term but must be short-term that is my principle, even though we know altcoins have an increase if the altcoin season arrives, it's just that a big risk can still overshadow you from any loss of coin value that does not increase anymore.

The best investment option is obviously Bitcoin by having its own key.

The Bitcoin network is arguably more secure because of its high hashrate, but I wouldn't necessarily agree with what you say about owners. Most popular altcoins have known creators or development teams but that doesn't mean they have any direct control of said project as it stands now, Litecoin being a prime example of this.

That makes sense and it's true story for the most. We've got friends that have been in that scenario that we told them to buy Bitcoin and they're completely good.

Well, honestly for those that have never listened but yet still made profit or did it the right time to sell that's good if that's what happened to many of them.

But the majority of them never took profit, bought not Bitcoin but instead meme coins and other altcoins that don't even have liquidity. They just don't want to listen but they want to have an idea and want to show that they're better from someone they've heard the idea of Bitcoin.

Well you are right but I must say, when it comes to your keys, trust is not an option. Funny that even yourself can't be trusted because you could misplace them that is why it's important to write your private keys and recovery phrases and store in a secure location to avoid a situation of misplacement.
It's a true and powerful message but people will still fall victims to these scammers because they are blinded by promises of getting rich quickly. Some fall quickly after being presented with a fake investment profile. That is why before investing, it is important to make a proper research so that you don't lose your keys to these as scammers as they tend to seek your private info such as security codes. Some go as far as tricking their victims into sending crypto to compromised wallets.

There are few times when the shitcoin market went crazy and the best time in my opinion was in 2017 when every project went to the moon and people who invested pennies made life-changing returns but it was one hell of a time and I don't think that time period will repeat.

And the typical middle-class mindset is also the reason why they want things to happen fast so they think that taking risks will pay back but what they don't know is they don't really understand the concept of taking risks with their investment choice and fall for scams and shitcoins.

This a simple but valid information not just for newbies but for everyone. Buying only Bitcoin and keeping it in a safe decentralised wallet is important. If you don't have your keys, then you can lose your funds anytime. People have failed to learn from the mistakes of others until they become victims.   


I think this is the reason why many people still put their money in shitcoins. The altcoin sector has been advertised as a get-rich-quick scheme and people don't care about the risk because of greed. Newbies are always the victims of these shitcoin scams because they lack the necessary knowledge about how the industry works. But some well-informed people don't care about the risk because of the projected gains but the best option anytime any day is Bitcoin.       

Even in 2017 lots of people invested thousands of dollars and got back pennies or nothing.

The hype meant that lots of scammers entered into the market with the aim to profit off the greedy investors. They copied successful altcoin project models and combined that with lots of marketing to create a very attractive product.
As investments rolled in, they slowly made for the door, by the time they finally made their exit, hundreds of investors with millions worth in capital were left bag holding a worthless token.

Buying into hype is very dangerous regardless of the asset.

This principle as always making by the newbies came from the other people that with the use of the crypto you can instantly millionaire with the help of the altcoins too, they keep making a risk to have this faith at the same time but they didnt realize its not applicable as always to everyone, if you make an investment and still not on your full custody of your coins, its not yours, reason why make a good investment with your own wallet and keep holding like meme said, we dont trust anymore the centralized platform theres no key, theres no assurance, and not full authorization.

This was not the reason why altcoins were created, they were created out of good intentions as well, but because most of them are centralized unlike bitcoin, individuals take advantage of that to create such projects in other to scam people, when everything first started, things weren't as this bad, NFTs are profitable, airdrops are rewarding, all memecoins are being trusted.

But when people realized that the whole process in doing these are not in a regulated manners, they take decisions on theirselves to use it on other's weakness and scam them, this is one of the reasons why every newbies should focus on bitcoin because it's secured, decentralized and consistent with trust.

This comes with a realization that only bitcoin is the most secured crypto investment of all time. Although there are always new born coins in the market that claim to be more secured and more profitable but in the end, they all lost and vanish like thin air, and only bitcoin serves the last coin standing. But I believe investing in bitcoin is not enough, since you have to be responsible as well to secure your private keys by keeping it to your own self and not disclosing it even to your close friends. Bitcoin is certainly a high risk asset, so you need to deal with the risks with knowledge and patience, that way you will come to lessen or definitely overcome its risks.

You know this type of message is what we should always bear in mind. That bitcoin is not just an option when every other investments are failing, but it should always be our priority so that we can avoid from different scams that this altcoin market has a lot to offer.

Well thats true but not for everyone who earned a lot from altcoins free airdrops or nft hypes. I love bitcoin but will not criticize altcoins and nfts who give me some profit way bigger if I bought bitcoin at that time too. Well Im saying this based on experience too and not just by the turn out of event on altcoins. Its a case to case basis so we cant neglect the fwct that altcoins helped also in your portfolio if you did the same. Being a full bitcoin investor is not bad but some people like to explore too and of course they must have level of knowledge before going into that cause its really very risky.

Yes, altcoins are useless. But not as useless as everyone says. If it were totally useless, nobody would have bought it. I am not criticizing any coins. Bitcoin is the one and only true coin. There is no denying that.
 
The key difference between Bitcoin and altcoins is that altcoins can't survive for long when Bitcoin is still running.
 
Yes, you are right. If you invest at the right time, altcoins can give you a big profit. Not just big, but massive. But we can't rely on that profit for long. As we all know, it will hit the bottom more than we think. Like Luna, Shiba Inu, etc. These projects were hyped the most. But now look where they are.

One thing I realized not everyone has the mental strength to hold or focus on Bitcoin (only one single coin) for long period of time. That's why a lot of people, invest in altcoins for a quick profit.
 

Regarding that Im not sure since its not happening yet but thats impossible right? Maybe for some literally low projects but not for quality one and old projects.

We really cant rely thats why you convert those profits into usdt or bitcoin or safe altcoins that are strong like ethereum. Just turn those profits into blue chips and good to go.

Yes, that's indeed the exact truth Bitcoin has and still telling newbies today, but due to lack of patience and ignorance people still falling victim to such scams as portrayed in the image above. Hence, this should be a guide to every newbie of how good/important it is to "Doing Your Own Research" because if only had they done the proper research before investing, I'm sure they would have taken the right decision by investing in a coin that have been proven to withstand the taste of time. And not a coin for people who aren't patient but wants to get rich quick. Since its known as an asset for long term investment.

The problem of newbies is that they don't asked, as soon as they get small information and are able to buy their first coin, they think they have arrived and knows everything meanwhile they lack the security measures and what it takes to keep safe their coins, mostly think having coin on exchanges with 2FA and phone number is enough to control scam not knowing that the exchange can run off one day.

Some of them complain that self custody of coins is even harder than managing coins on my exchanges, they don't know that the harder you keep coins from exchanges, the less worry you have when they cease to exist one day.

Those newbies just don't understand how to look after their coins properly so they still think like that until now, but for the small number of newbies who have experienced losing their coins through the exchange will definitely use a wiser method in looking after their own coins where they just will store them in a personal wallet by no longer relying on the exchange as a place to store their coins. They must cultivate the idea that the exchange is only a place to buy and sell coins, not a place to store any assets because the risk of losing is much greater than in their personal wallet.

I agree that you should buy bitcoin and hold it. But this advice is for those who are not very experienced with cryptocurrency. There are other cryptocurrencies and projects in the crypto sphere that someone with good information and knowledge can take advantage of and make money from it then take the profit and invest it or buy some bitcoins. These are all accumulation strategies. The caveat here is that if you know you are not experienced or knowledgeable enough about this, do not do it. Just buy and hold.

For those not looking to make a quick profit/ risky investment due diligence is extremely important. However, the current Bitcoin market, and to a lesser extent wider crypto market, is showing signs of more stability. This means many people are looking to BTC and others as a less risky hedge-style investment.

The idea of making quick wealth will always be the same pressure that is leading most of this people to invest in altcoins, leading to exposure of their private keys. They neglect the red flags for fast wealth which has caused them more damage than good for the crypto community. Not that many people are not informed, they just don’t care to practice what they’re being thought or what they’ve learned until they fall victims of circumstances before they amend their ways. I don’t wish bad for them, it’s just annoying to see people keep repeating the same mistakes that many people have being called victims for in the past and told several times about it.

You make some decently good points Faisal2202, yet you seem to be justifying why it is good for some people (perhaps also including yourself) to be shitcoiners, and personally, I am not even denying that people are going to differ in their decisions regarding how much to invest into a variety of assets, whether that includes bitcoin and a variety of other assets, but still it can be quite difficult to try to argue that just because people are free to make dumb choices, such as buying shitcoins, that it is a good idea because it helps the market.  Some choices and actions are better than other choices and actions, and surely there might be some folks who are from very similar backgrounds that will make different choices, and sometimes they are going to be successful in their own ways, but still those kinds of real world dynamics do not seem to justify taking much if any of a position in shitcoins. maybe until after you have figured out your bitcoin position first...   and yeah, sure some people are going to choose to involve themselves in shitcoins.. and that's their choice... even if on the surface and in general ways, it does not seem to be a good one.


Bitcoin is not necessarily a short term investment.

So history has shown that it is likely much better to get started with bitcoin as soon as possible rather than fucking around with waiting.  At the same time, it is likely possible that if the BTC price had pumped a lot just prior to entering, then maybe there can be ways in which the buying amounts are not as high as they otherwise might be, but at the same time, there is likely no real way to really know if bitcoin is at the top of its cycle or not.

So first get started, and then maybe second figure out about how to personally employ various methods of DCA, buying dips and/or lump sum investing in order to figure out what kind of a target position is desired.. with likely attempts to figure out bitcoin as a long term, rather than a short term investment... In other words, there probably is little to no value to be fucking around with one of the best (if not the best) investments that is available to people around the world by trying to trade it rather than accumulate it.


There is nothing wrong with people wanting to build their own path, but frequently a lot of people can get into shitcoins and be persuaded by various shitcoin talking points, so it can be quite difficult to persuade them otherwise in terms of how long that it might take for them to come around to bitcoin, and sometimes they could spend decades dabbling in various shitcoins.. like you mentioned, going from one kind of shitcoin to another, when the actual solution and the innovation (of bitcoin) is right in front of them but they remain blind to the innovation of bitcoin and even seemingly purposefully and stubbornly blind to it...so what can we do beyond just letting the process play out and to see if they are right or not.. which seems to not be the case, but still they have rights to be choosing their own destinies and even perhaps failing/refusing to take responsibilities for their likely failures.. but hey maybe they won't fail and they will just become a shitcoin influencer, instead.


I also like to suggest a back up to the back up.... so it can be a lot of work to have two back ups.. one in one location and the other in another location, so if the back up gets damaged there is a back up.. but surely the more places that you keep the back-up the more possibilities to compromise it, so I split my back ups into three parts.. but some people might choose to just split them into 2 parts.. so there can be choices regarding how much work to do which also might be based on how much value is being held in those locations.. is it $100, $1,000, $10,000, $100,000, $1,000,000, $10,000,000 or more?  The amount of value may also affect how much security to put into the holding of the coins and the various ways to keep backups sufficiently secure.

Well, yes, this actually makes me remember the fact that you can actually see an altcoin as being a potential coin but will still get disappointed because all altcoins don't follow a due bull and bear season like Bitcoin. For altcoins, it's just pump and dump, while Bitcoin has two market seasons, which are always certain. Some people, after investing in altcoins, fail to always check for updates with that token. The project can decide to swap their token, and those that don't check updates will be left out. But with Bitcoin, there is no coin swap; just buy the dip and hold and never share your seed phrase with anyone or store your coin on CEX.

Bitcoin in the end is still the future of the crypto market. No matter how stiff the competition in the market, but if you prioritize bitcoin over other crypto coins, your investment will always be secured and the chances to gain life changing profits will only be guaranteed by bitcoin and the rest are nothing but a destruction in our portfolio. So focus on the idea of sticking into bitcoin for long term, and secure your private keys by not disclosing it to others, that's the most effective way to get rid of scams and to find yourself stress free and free of unexpected losses.

However, such a very easy message but certainly hard to follow as people want to complicate things more rather than stick to what is basic and proven highly profitable.

Shitcoins are useless coins that only rely on market hype to become a trend after completion they disappear from the market or the price drops, that is the risk of choosing altcoins as an investment it is clear that this will be detrimental and will only please you misguided but in the end it becomes regrettable.

Bitcoin is most important for long-term assets to save for 5 to 10 years, also keep a private key to secure your assets because this is important to protect rather than storing on a centralized platform that has no meaning.
Always advise friends, do not invest in any altcoins because it is clearly risky do not also be affected by any hype in the market including FOMO, airdrops etc. that make you complacent so that you ignore bitcoin as an important asset.
Keep accumulating, wait a long time you will feel how bitcoin will be more valuable than anything.

If we talk about the most reliable coins in crypto currency, the name of Bitcoin will come first. Bitcoin is a coin that can be trusted a lot. Coins that have enough reliability and since Bitcoin is easily trusted, we can't think of anything other than buying Bitcoin and holding it for a long time. I think after investing in Bitcoin we don't need to worry about our investment but we need to worry about whether we have stored our wallet keys safely. Since our plan is to buy bitcoins and hold them for a long time, it is very important to keep our wallet keys safe because if we do not keep the wallet keys safe, we may lose access to our wallet after a long time.  

When we invest in other coins in the market, we not only worry about saving the wallet keys but also always have a worry in our mind that maybe our money is lost or if we invest in other coins, we might not get that money back. While there are similar concerns with other coins, there is no such concern with Bitcoin. Investing in bitcoins with only a small amount of money risk will definitely give an investor a lot of good.

We should invest only according to our ability and maintain that investment consistency and if an investor builds his investment portfolio above 90% of his investment should be in Bitcoin then in my view an ideal investment.

I was an investor before the era of crypto, and with my unbiased experience, what the OP said which you also corroborate is not particularly true. Bitcoin is an asset and it's not the only asset in the world, not even in the crypto space, we should continue to treat it as such without entirely demeaning the others. If you want to invest in Bitcoin, fine, but it's not right to entirely dissuade people from diversifying their portfolio which is a very wise idea.

I don't see how you would be getting scammed if you buy both Bitcoin and altcoins from the right channels and also store them correctly. Do not be deceived, if not all, almost all people here acting Bitcoin boss and preaching Bitcoin only might have tonnes of altcoins in their wallets, that's human beings for you. But I dislike misleading people.

Carefully selecting your altcoins will enrich you for real. You can see how some moved more than 3 times in the recent bullish run, and you call that faulty? Risk is part of the game, enjoy it while it lasts.

There are some people who are getting huge returns from NFT projects, Airdrops and other meme coins. Over time, these three methods have been abandoned by some people because they began to see the promising potential in Bitcoin. I am also happy to have been involved in these three models but so far have really stayed away because there is no potential to provide profits after investing and maybe there is not much understanding about the three so it is difficult to see the potential.

Currently and in recent years I have focused more on Bitcoin because there are strong reasons that can attract us to invest in it. Foresight should be the target and perhaps where we should stand to gain maximum profits rather than wasting time on coins that have no fundamental value in the long run because as far as I can see only bitcoin has a much better side compared to other coins.

The Image is shouting to say it's just greed and an Immature investment strategy, The person who is following this line is only messing with himself.

Such sort of mindset cant be found in the Bitcoiners, mostly shitcoin hunters stick to it, as they lose most of the time, they always consider this market as their lottery tick and they love to gamble. Bitcoiners are not gamblers they are wise ones and they're the only visionary people here.

How much to allocate to bitcoin can surely be a confusing framework.  I agree that if we are talking about bitcoin versus shitcoins (or altcoins), then bitcoin should likely be composed on at least 90% of that, absent some kind of a justification to be fucking around with some other investments in the "cypto" space.

Now if we are looking at bitcoin versus traditional asset classes such as stocks, bonds, property, commodities and cash(or cash equivalents), then if we are starting out our investment into bitcoin, and we already have those other asset classes in our investment portfolio, then we may well consider anything between 1% and 25% allocated to bitcoin as a starting proposition, and surely there could be reasons to invest outside of that range as well as long as the investor is studying why s/he might want to allocate more or less than the range.. but even 1% is seeming like a pretty small amount, so it would seem quite short-sighted for anyone to be choosing to invest less than 1% into bitcoin.

Another category of person is the absolute brand new investor, and questions whether to diversify or not.  I personally believe that it is not necessary to diversify until maybe reaching a certain percentage of your annual income... so if someone is investing 10% of his/her annual income, then it is going to take 10 years to have had invested 1 years worth of income, so in that kind of a case, probably there would not be any need to diversify beyond bitcoin and cash in less than 3 years time... but surely each person has to consider these kinds of matters in terms of how long is his/her investment timeline and what are the goals that s/he is wanting to achieve.. so frequently in traditional investments, it can take 30-40 years or more to build up enough investments to be able to retire, and if any of us were able to cut those numbers in half with bitcoin, then I would imagine that any of us should be happy with those kinds of results, but it still takes prudence, reasonableness, and consistency when it comes to ongoingly investing into something like bitcoin (and considering how much to potentially diversify along the way into other assets - and not talking about diversifying into shitcoins, unless it would be something like what Litzki1990 mentioned as less than 10% of the size of the bitcoin holdings.

Another related concept is how to treat your bitcoin portfolio if it may well end up appreciating faster than other assets that are in the investment portfolio, and I am personally of the concept to mostly let the bitcoin investment ride, but surely if you ONLY have bitcoin, then it may well be nice to make sure that you have some other investments that might fit into the stocks, bonds, property, commodities and cash categories.. .. and surely those kinds of decisions can vary quite a bit, but they could become real as someone accumulates bitcoin for a while and then starts to see that bitcoin is outperforming other assets, so then there could be some questions regarding how to deal with such outperformance and the extent to which some diversification might be needed (and again, I am not talking about getting into shitcoins, unless it is truly limited to small amounts)..


I think it is good to denigrate shitcoins, and also to dissuade people from diversifying for the mere sake of diversification.. especially into shitcoins.  In the "crypto" space, the idea of diversification is used as a way to distract people into thinking that they need shitcoins in their portfolio and they do not.  Learn bitcoin first, and then maybe after spending 300 or more hours studying bitcoin, then maybe at that point, the person might be ready to think about if there might be any need to fuck around with shitcoins.

Diversifying into other asset classes is another story, and surely more justifiable... even though some people wonder if they need any other investments besides bitcoin and cash and whether it might be overly complicated to be owning those other things, but sometimes it could be good to have ownership stakes in other things.. such as stocks, bonds, property, commodity and cash.. but that still might not become as big of an issue until the overall investment portfolio gets to a certain size.. maybe 25% or more of the annual income, then maybe at that point diversification might start to make sense.. as compared to a brand new investor just getting into bitcoin might not need to diversify at all besides figuring out his/her cash and bitcoin.


Fuck shitcoins.  No need to get distracted with that nonsense, absent if you have figured out bitcoin first.


You cannot just talk about shitcoins generally without getting into specifics, so just your statement in itself (that does not refer to any specific shitcoin) seems to validate that if someone needs to get into one shitcoin or another, then s/he is going to have to spend quite a bit of time studying that nonsense and if they first don't even know bitcoin, then why fuck around with that? Study bitcoin first, and then if after 300 hours or so of studying bitcoin then maybe at that point there might be some justification to dabble in crap, and maybe even after studying bitcoin first, there might become a realization that there is no need to fuck around with shitcoins, except maybe some small part of the size of one's bitcoin holdings, such as less than 10%...

...so why even talk about shitcoins if they were supposedly some kind of a valid investment category if we are not able to name which ones and why. If a person cannot establish which ones and why then that seems like gambling rather than investing... no problem if you want to gamble rather than invest, but it seems to me to be better to be investing and to have some solid goals rather than planning to fail by failing to plan.


How is someone going to carefully select shitcoins if s/he does not know bitcoin first, and do you really believe it is that easy to figure it out rather than getting fleeced.  Sure, after the fact any of us can see that some shitcoins did better than bitcoin at various points in time, but how is anyone supposed to know when to get in and when to get out? Seems like a big unnecessary distraction to me... but sure, people are free to do whatever they like, including getting lured into putting their money into crap and hoping that they time it correctly rather than having a more solid plan that involves steady and ongoing accumulation of bitcoin that likely is going to put someone into a pretty decent position (having more options) 4-10 years (or longer) down the road.. .and sure it is not guaranteed to pay off, but bitcoin remains a very good thing to build up in anyone's investment portfolio, so why dilute such efforts with a bunch of inferior crap that is largely correlated to bitcoin's performance anyhow.

By the way, if you had not noticed, bitcoin happens to be a paradigm shifting technology that is likely creating one of the largest wealth transfers in history,  so why get distracted and/or investment diluted into shitcoins?

You are right, and I did not say that. One of the two students who used to sit at the same desk in school, one of whom became a farmer, is not contributing to the economy; he is still playing an important role, while the other, who became a doctor or pilot (whatever you can assume), is also playing his role. In the same manner, the shitcoin buyer is making the market of alts so that by extending the diversified portfolio, we can minimize our risks and gain more, plus we can earn more due to the high volatility of alts than BTC.

Everyone is playing there role in this society either they are shitcoin buyer or BTC buyer as both have key role. I cannot agree more on this with you. It's only a emotion in the minds of people, which made them think that there this action and choices are better or not. Like the shitcoin buyer will praise his choice if it went well for him and the same goes for BTC and vice versa.

We will invest in Bitcoin and hold that investment for a long time here why we will depend on luck rather we will invest only with adequate due diligence and investment skills. In my view those who invest depending on luck are fools because investing is not gambling which depends on luck rather investing depends on one's skill. A gambler takes decisions mostly based on his luck in gambling but in investing there is no chance to make decisions based on luck or on his own impulses.

In the case of investment, an investor has to do adequate scrutiny of the market, monitor the market movements and have the ability to be patient enough time to invest, only then can an investor get success from his investment. I don't give importance to my luck when it comes to investing, to those who say I have bad luck that every time I invest in a coin the value of that coin goes down I would like to tell them that you are not unlucky but you are investing at the wrong time with the wrong strategy.  

Understand the market and have enough knowledge about the market and research the market regularly I assure you that you can make your investment with confidence. Investing may be easy but one of the most challenging things for an investor is to invest in the right coin and hold that investment for a long time. By investing in the right coin we mean Bitcoin and we should keep investing in this Bitcoin for a long time.

Well, I want to agree on what the OP has advised to us, but it would be better if you indicated in the subject title that this "Simple yet Powerful Message" are only for newbies out there who don't know where to invest their money with.

I believe that newbies really need to focus their money in investing into Bitcoin "ONLY" as it's considered the "SAFE" asset by many people. It might be a safe asset, but I would call it "the safest cryptocurrency you can invest your money with". That would be better, but overall, I guess OP already shared important details that a newbies must know. Focus on Bitcoin first, and be patient.

Now what about those not newbies anymore? Will you still recommend them to just invest only on Bitcoin, and disregards those altcoins out there especially those that are on the top in terms of market cap?

What you're trying to add right now, I think that it's going to complicate things, do you know about the adage one step at a time? I think that we should just let the beginners or newbies to experience first hand buying bitcoin, worrying about the prices is just a step I think they have to know when they finally bought bitcoin. Overwhelming them with all the unimportant stuff when they're just beginning with their journey will likely dishearten some of them.

I respect your warning but for many its other side of this story, altcoins have bring good ROI for them than Bitcoin will ever bring, many people don't even know when to buy, that's the problem, they fomo into altcoins and they get dumped on.

With Bitcoin you can start buying any time if we are in a bear market, with altcoins you can't do the same, you need to make sure that you get in early and watch the chart closely,  it's good to always have Bitcoin in your portfolio but altcoins will always bring you good amount than Bitcoin, the bad side of altcoins is too many scam projects but if you know how to find those gems you will still be in profits.

Bitcoin is safer and altcoins expose you to more risks, I have lost money in altcoins like OP said but I have made more with altcoins than my Bitcoin, few that I bought this year have done over 1000% gains already, one of these alts is injective protocol, if you have your doubts you can do your research, another is Solana, the so called shit coin that everyone thought it won't survive because FTX had a lot and dumped a lot too.

If you know how to calculate your risks very well altcoins are not completely bad like some are saying, in fact it's better than gambling with money in a casino, all you need to do is make sure the project is very good and still very early. Right now my altcoin bags is looking better than my Bitcoin bag, though both are in good shape as we speak.

Hypes makes these investors earn more from investing altcoins compared to Bitcoin and it gives them a reason to look for gems and take high risk rather than choosing the safe investment (Bitcoin). However, while many were earning a lot for altcoins, some had also suffered terrible losses and regrets and you're right - that is because they chose the wrong one or scam project and imperfect timing.
It doesn't matter if we choose altcoins provided that we are also securing funds allocated to Bitcoin as in this way, at least we have some assurance that our money will never vanish.

If you do not learn from the experience of others you would definitely have your own bitter experience where learning would be inevitable. The instructions on how to keep your bitcoins safe is so simple yet there are people who lose it because of their greed, their lack of attention to details, just plain laziness which may include, keeping your private key carelessness, drawing unwanted attention to your self in public as Bitcoin investor thereby making yourself a target and so on.

You can see holding the investment for a long time not as greed but as a great opportunity for financial income. Everyone has addiction to money income. This means you cannot compare income addiction with greed. It may be difficult for you to invest and hold that investment for a long time because you are satisfied with a small profit, but we are determined to hold our bitcoins for a long time so it is natural to have a little high expectation from our investment. If you haven't held your investment for a long time, you may be taking a risk of holding your investment for a long time. For the purpose of long term investment first you consider specific time till that time you will hold your investment, if you can hold your investment till specific time then I am sure then you will only think of long term investment. 

Investments always give us something good, because investments always give us something good, that is why we should think long-term about investing, because if we invest with long-term thinking, then that investment will give us something better than good. If you have not planned long term investment before then now you can plan long term investment and invest long term plan hopefully change your thinking about long term investment.

In the world of crypto currency Bitcoin is the number one of them all, if one wants to use any coins in the crypto currency to make as am example to some one that hasn't heard about Bitcoin even for the first the person will use Bitcoin first as an example.
If one have known about Bitcoin it will not be a good idea for the person to divert to any shit coin or any altcoins.

Bitcoin is one of the most popular currencies among cryptocurrencies. I have seen many people who have never heard of crypto currency but they have heard of Bitcoin. There is a big difference between hearing about Bitcoin and knowing about Bitcoin. We first came to know about Bitcoin by listening to someone talking about Bitcoin, it is a different thing, on the other hand, listening to his talk and being interested in learning about Bitcoin in a new way is a different thing. Newly when we try to learn about Bitcoin on our own we will learn a lot about Bitcoin and when we know roughly about Bitcoin we will have a better idea about investing in Bitcoin.  

People who have a rough idea about Bitcoin and people who have a rough idea about investing in Bitcoin I think if they are told about the investment they will decide to invest in Bitcoin without thinking anything. There are many coins in the market but not every coin can be trusted if any coin can be trusted it is Bitcoin.  
Never invest in other sheet coins, if you want to stay safe for a long time by investing then definitely choose to invest in Bitcoin. If we invest and hold that investment for a long period of time, this kind of worry will never work in the mind that we might lose our investment or we might not get our investment return.

If asked about investment I would say invest in Bitcoin and if asked about investment holding then I would say of course you hold your investment for a long time.

Many people get involved in cryptocurrencies with greed which makes them lose the ability to consider what would be the good or bad. An investor first understand the difference between Bitcoin and Shitcoin. There are many investors who hold shit coins for years and at some point the results are zero. When they have money they become attracted to shitcoins for their greed. When the market turns bearish, it's all over. A shit coin never get ath, it is very difficult. But in the case of Bitcoin it is possible if some one hold bitcoin.

An investor should invest in a platform that increases in value over time. So far many of us are aware of many crypto scams but still rely on altcoins. As an investor you can buy altcoins if you want to gamble. But if you want to benefit from a reliable long-term investment, then no one should move any other platform than Bitcoin.

This message may often be ignored by beginners who are new to Crypto, but if you translate it more deeply, the words that are repeated many times "Just buy bitcoin and hold onto your own keys or else you are going to get scammed" have a big meaning. I think beginners need to keep this message in their minds to always avoid momentary temptations. Altcoins and NFTs look really sweet when they are on an upward trend, but they won't last long. Prices will continue to decline which can drain the initial capital or worst case have no selling value in the market. Bitcoin has been tested and proven to be able to survive in any conditions, ignoring Bitcoin is the same as ignoring the opportunity to make big profits.

For long time market investors, I believe they already know where to invest and where to put their higher allocation of capital, and what coins to diversify aside from bitcoin. They have better experiences in the market so they are aware already what coins that will make them profitable and what coins that need to be avoided to prevent from losing.

However, this message is not actually for newbies but I can also tell that this is also applicable even for experienced investors. Bitcoin is still the best crypto and safest crypto asset so if we can’t stick to it, at least we should give bitcoin the biggest allocation and only invest to other potential altcoins and shitcoins with an amount that we can afford to lose.

I would never call anyone who comes to cryptocurrency and invests in any coin out of greed for the success of others an investor because an investor would never invest out of greed for the success of others. Someone else has achieved success in crypto currency but we must think about how he achieved success or in which coin he achieved success.  

If we buy any shitcoin we want and hold it for a long time without thinking about the right direction and if we expect to get a lot of good from this shitcoin then we are definitely living in a fool's kingdom. Investing does not mean rush, investment does not mean greed, investment does not mean following others directly but investment means investing in the right coin after doing enough market research and holding it for a long time. If we invest in the right coin and hold for a long time, we expect to get good from that coin. If we wait a thousand years to invest in any of the citcoins in the market without investing in the right coin, I don't think we will ever get anything good from that investment.  

An investor needs to have the mindset and patience to hold enough to invest and also an investor needs to select the right coin before investing. If the right coin is selected at the right time and can be held for a long time then an investor is successful in that investment.

This is having some atom of dishonesty in my opinion. Is there any Altcoin in the history of cryptocurrency that has given an ROI like Bitcoin? Google search the profit of Bitcoin from the day it was listed as compared to other altcoins, and they don't come near, even Ethereum does have half the return of what Bitcoin has printed if you do the maths from the first day it was listed on exchanges. The only problem is that Bitcoin has grown rapidly because the market cap alone is enough to give us more than 100 altcoins if we are to share the Bitcoin market cap with other altcoins that are top 100.

I am not sure if the survey result will be the same but if you ask around about how people have lost money to crypto, they will tell you that more than 80% of people lost money into altcoins than they did in Bitcoin. Fact check the bear market that we just had, altcoin is the reason why we are here today, and Terra Luna and Solana collapse is the reason why billions of dollars were wiped off the market. Not for one day you will hear that people panic and sold everything because Bitcoin had issues, it's always altcoins bullshit that brings fear, doubt and uncertainty.

I understood your point about the risks and scams that exist in the cryptocurrency world especially for newcomers. It is true that there are fraudulent activities targeting those who who don't know much. However, it's important to note that not all altcoins NFTs or airdrops are scams. You can see many projects are legitimate and gave huge airdrop to their users.

I agree with your message which showing the importance of holding your own keys. This is a fundamental principle.  Not your keys not your funds.

Yes of course, should only invest in Bitcoin. Investing in altcoins with a small amount of money can get a lot of profit, investing in altcoins is very risky, you can lose the whole money. Due to the huge price increase in Bitcoin at present time, investing in Bitcoin with small amount of money can expect small profit but long term holding can expect to get huge profit. If a loss is incurred by investing in alt coins, the chances of recovery are less. But if you invest in Bitcoin, you can easily recover if there is a loss. People who get new ideas about cryptocurrencies decide to invest in different types of alt coins without understanding the market. Investing in Bitcoin is much less risky than investing in other coins. So everyone should choose bitcoin and avoid alt coins.

It's not bad to diversify bitcoin with altcoins as long as you are in the right coins to invest, which can also sustain the market volatility and won't definitely end up with zero value. However, even if those altcoins are on top of the market cap, we can't be sure that they're not gonna fall in the long run as  majority of the altcoins are just profitable at the beginning but eventually lost their significant value in the end, which means these type of altcoins will only add to its higher risk of losing.

I have been in the same situation way back then and have trusted these altcoins but all I got are just losses. The reason why I just want to stick to bitcoin for long term investment and just continue doing DCA to maximize my portfolio before this bitcoin halving is supposed to happen.

No doubt,  the most important thing most often times looks too simple to us and will just joke with it until it gets us in trouble and within split seconds our sense of reasoning comes back to us and we now start crying,"if I hard known, I would have kept my keys safe right from the outset.

I still remember that when I opened my first wallet, I was too lazy to write out my passphrase but instead, I thought of making a screenshot of it and then I thought of the fact that I could misplace my phone or that my phone might be stolen by fraudulent people that will easily recognized my passphrase and will drain out whatever bitcoin I have accumulated so far. I had to get up immediately, take up a pen and I wrote down my passphrase and ensured that I kept it as secured as my other important documents.

As a veteran and the first cryptocurrency, Bitcoin has been a major means of investment and creation of civilization. Bitcoin has created a breakthrough and extraordinary value in technology, and it is turning a new economy in the human community in different parts of the world. However, alongside Bitcoin, many altcoins and blockchain technologies are competing and new and creative projects are emerging. These new coins are designed for different functions, and their important features can make them attractive to various individual and venture investors. At this time, it is important to look at the competition between different cryptocurrencies, and for private enterprises to reach good technology and a balanced investment is now going to be effective. Above all else we should buy bitcoins and hold bitcoins.

Excellent advice.

I would also say that securing your seed phrase with the best practices and running your own node are also very important. I should have purchased steel plates and run my own node a lot sooner.

Best decisions I ever made.

I think this message is one of the best and said for the safety of all people. Buy bitcoins and hold your keys, and hold bitcoins for a long time, it will be good for you and for the future. When you use a hardware wallet or software wallet to make an investment, you will be given a key that must be collected. If you don't save the keys, then you are definitely risking your money and most likely losing money. Or never share or give the keys you collect to other people or else we know for sure that you will get scammed. So we should keep our invested money for a long time and keep the wallet keys in a safe place to avoid fraud. It's always important to keep in mind that your money is safe when your keys are safe, but your bitcoins will be safe in the future.

I like the picture. The message is also simple and really works. If we do it, we just have to say it by starting to buy a number of BTC according to the capital capabilities we have. Indeed, at first glance BTC looks expensive, but we can also buy it in installments and don't have to do it all at once, and it cannot be denied that with large funds, if it lasts 10 years, the benefits will be felt.

Yes, of course, if a person does not learn from the mistakes of others, then it can become a big problem and trouable for him. Often people are weak in the matter of privicy, they take such stances lightly while it is their biggest mistake, carelessness and laziness, which I say is a proof of the biggest stupidity of this person. Even iff he knows everything, if someone does not respond to any issues regarding privacy, then he is doing something rong with himself because, every day, similar cases are increasing. People underestimate the importance of their privacy, but it is a very serious matter. And if they don't protect their funds in the right way, they lose everything; that is, due to their own mistakes, they find their wallets empty in the hands of hackers.

Moreover, when most people create a wallet, they temporarily take a screenshot of their passphrase and can keep it on their phone. This YouTuber (https://youtube.com/@learnfastearn?si=rXvNxKvZHMHCvBRx) also did the same, and when the hackers monitored, the hacker hacked the email of the YouTuber, backed up all the data, and stole a million dollars of assets from his wallets by finding the phrase of this wallet.

So, it means that whenever you save a phrase in your wallet, you must write it down on paper and don't save it on your phone, because it can happen to you in the same way as it happened to this YouTuber. So be careful in terms of privacy.

Information is indeed the key while knowledge is power.  Many crypto investors have received the information needed to know that altcoin market are highly and it's the manipulation space for the whales now and once they get their profit they move it into BTC.
The point is that receiving the right information can lead to failure of the person don't have the knowledge to understand the information futuristic benefit.

Without going any further, this is evident to all beginners: purchasing another worthless coin that will cause you to lose your money is extremely risky, and this danger extends beyond novices to those who are incapable of losing money. Bitcoin is merely an investment that you can hold onto for a long time, during which time nothing will happen to your money as long as you keep your private key in your possession. I haven't purchased any other coins except for bitcoin because I don't want to lose money. I haven't seen anyone express dissatisfaction over holding bitcoin for an extended length of time, and many people on this forum recommend investing in bitcoin rather than other coins.

Another crucial aspect for a novice is safeguarding their secret keys. You should keep your secret key private, even from your closest friends, as if someone were to obtain it and gain access to your wallet, your bitcoin would be lost forever, and there would be no way to track down the scammers and get a refund. For this reason, it is advised that you conceal your secret key as well as possible.

The cryptocurrency world currently has various altcoins popping up, including Bitcoin. Moreover, people are now making many attempts to cheat people through NFT airdrops along with giveaways etc. I have seen a lot of airdrops and giveaways that are created just for scams where new people get scammed by messaging them when they connect their wallets here. That's why I think the wallet should never connect to an unknown website to avoid being a victim of such scams with the possibility of losing all money. I also got scammed by connecting a wallet to an Airdop website, that's why I think your message is very important. So it is very important for newbies to know that avoid all other scam websites and buy bitcoins and hold them and keep the keys in a safe place. When you buy and hold bitcoins and store your keys in a safe place, you can earn a large amount of money from bitcoins over a period of time.

For BTC, it is very undeniable. It's true that indirectly it depends on their infrastructure but, how to avoid third party exchanges when that's the only place where we are, for example, to carry out transactions and cash them into fiat if necessary at any time?

Your message is self-explanatory and straight forward, it is left for the concerned individuals to adhere strictly to the advice that's if they want to, people buy bitcoin without knowing about it in full, mastering your keys and keeping it safe for you alone should be one of the topmost concern of a bitcoin holder, the key safeguard your investment, and it should be your priority, bitcoin was created to teach people about how safe your money and your identify could be without anyone else knowing about it, but people has failed to maintained that standard and continue to chase shadow, if I may ask how many investors or holder has taken a good measure in other to secure their investments, pop I appreciate your effort in making this message public for people to know how important this aspect in investment is. 

Honestly, the message is so simple and so easy to follow, but a lot of us never understood it clearly. Instead of making bitcoin as our top priority, we always end up making it as an alternative probably because of its expensive price, and resort into altcoin investment as our major investment. Not only newbies are doing this, but I believe even to some of those who have been here investing in the market for quite long, its like they trusted altcoins more than bitcoin.

However, there's always a time for change. If we fail to make it last time and see our altcoin investment continues to drop, this time we will be sticking into bitcoin. Although we can still invest into altcoins with high potentials, but we should always put bitcoin as our top priority and should have the biggest allocation of funds.

Don't get sucked into shitcoins, and if you are not able to control yourself because you love gambling and you are easily distracted into "wanna get rich quick" schemes that are likely going to cause you to lose time, money and energies, at least if you could limit your exposure to shitcoins to be less than 10% of your bitcoin holdings, then you will at least put some kind of limitation that restricts you, and hopefully  if you keep losing from your shitcoins, you do not keep drawing from your bitcoin holdings to justify to continue to allow that less than 10% allocation to suck value from my lil precious.