A general rule of thumb in investing would be to not have all your resources invested in one thing only, what you're doing (investing in different commodities other than cryptos) is already good but I would try to spread my assets out even more to reduce potential losses and maximize potential gain.

Do a combination of both! Have you ever heard the phrase "Don't put all your eggs in one basket.", by allocating your resources in this way you minimize the risk of losses.

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As others have said before me, in the first place, one should only invest what one is willing to lose. Risk is present in any investment. A key principle that was mentioned by a professor of mine, regarding investments in stock, was that even though prices are declining you don't technically lose anything as long as you haven't cashed out yet. So applying that principle, I figured I should be able to buy more coins since they were cheaper. So I bought more in the hopes that prices will come back up. 

While I think bitcoin can be a source of additional income for low wage workers (if they knew about BTC and had the resources to invest and/or mine them), it is naive to say that bitcoin can solve world poverty.

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Bitcoin was created to serve as a decentralized currency meaning it is currency that is not held by an authority such as the government, it would serve as a peer-to-peer currency this eliminates a "middle-man" such as banks when conducting transactions. BTC unlike regular fiat currency is not tied to real-world entities which means you are untraceable. So basically, I think BTC was made as a big FU to authority and I think that's pretty cool.

As with any investment, risk is always present we cannot assure when prices will go up or down (although a bit of research could help). In my opinion, a smart way to go about this is to only invest what you are willing to lose.

Better to invest now than to sit and wait, and regret your inaction when prices soar.

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Hi newbie here, so it's been a week and prices have been going up and down a little bit at a relatively same rate and not really making any drastic changes. Is this normally how btc price behaves and I'm just a wee bit impatient? Was it just the holidays that caused prices to soar in the last month?

Thanks guys, lots of helpful stuff ehehe. Oh one more thing, I'm just a student and I still don't have a job and at the time I can only invest a maximum amount of $100 worth of btc (holiday handouts). Should I spend my $100 all at once to buy coins (since I know $100 of coins isn't that much in the context of investment) or, like knien stated, apply dollar cost averaging and buy portions on a weekly basis?

Ohhhh okay this helped a lot. Thanks!   

Newbie here, I've been wondering when is the best time to buy coins? Is it a good idea to wait for prices to dip a bit or should I buy them as soon as possible to avoid anymore increases in price?

Coming from someone who knows just a minimal amount of information about BTC, this was pretty helpful. It was in-depth enough for me to understand where the bitcoins come from and how they work and it wasn't overly technical to the point of confusion. I was looking for a good and simple video explaining btc to show to my friends, thanks for this! 

It could no longer be accessed unless they shared their wallet credentials to someone they know so sharing it with trusted individuals such as trusted family members would be a good idea.

In my opinion, you shouldn't quit your job. Have you ever heard the phrase "Don't put all your eggs in one basket"? Don't take unnecessary risks, investing all of your time and effort into btc would just be reckless.

What keeps them from selling is their belief that its gonna bounce back and continue to go up. This is commonly done in stock investments and sometimes does lead to major losses so one should be careful in analyzing and measuring risks like this.

Well more and more people are investing in bitcoin since word is getting out that its value is blowing up and they have this notion that investing in btc is a get-rich-quick scheme.

The primary factor that drives/motivates people to keep holding is the belief that btc is gonna keep on rising. People just want to maximize the amount of potential profit that they could gain.