I've seen many people lose their holdings to phishing links and to scammers cause they are ill educated on how to hold safely, so as we learn how to accumulate bitcoin, let's let's learn safety too.
Hmm, that's true, mate. I've also seen some people lose all of their Bitcoin investments due to a lack of privacy. I believe that if someone wants to go for a bitcoin investment, first of all he needs to put more emphasis on it that how to secure his bitcoin, like where to buy it or where to store it. I mean, the first and most important thing a buddy should know before going to invest in Bitcoin is security, which includes being aware of scammer traps and fraudulent exchanges, as well as using a more secure wallet for storage. after that, there will be no difficulty in investing in Bitcoin. If someone doesn't know how to protect himself, be it from a hacker, from a thief exchange like FTX, then, in my opinion, a Bitcoin investment can cause a loss for him. So be aware of phishing links; don't click on any links that lack of authenticity. Security is like the most important thing in hold, most holders end up losing their asset to phising Link, ponzi schemes and poor education, I think newbies that are interested in investing in bitcoin should take time to learn about it and find out the best way to observe safety, the kind of wallets to use like hardware wallet( trezor cause I plan on buyingone next month, or using closed source wallets, many newbies also make the mistake of leaving huge amount of bitcoin on trusted exchanges and fail to learn from past incidents like the hack on Mt gox and the bankruptcy of FTX exchange, this companies are major target for scammers and they don't guarantee any security to you holders if something happens, we should learn that security is our responsibility if we must keep our crypto safe. I myself try my best to secure my holdings although they are not very massive yet, I'm still on my accumulation stage. |
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I agree with you, its better to be strong in one asset (bitcoin), than to have so many weak investments. If I have build my bitcoin portfolio at least to maybe up to 5 years of accumulation I can now start think of diversifying but this might be too early in some case especially when i have not accumulated enough bitcoin, I always wanted to have at least 10 bitcoin before I considered any other investment, but you have also told me I should be prepared for a case where my investment doesn't give any return, and till now I've not actually understood the lesson you are trying to give me in respect to this, I'm building up myself in terms of cash too and I'm still consistent with buying bitcoin with DCA.
I suggest you to focus on Bitcoin for now instead of having a lot of investments. Once you can position yourself well in Bitcoin investment, you can start diversifying. But this diversification in altcoins may be more confusing because there are so many altcoins that we don't know which altcoins can rise. Moreover, it looks like altcoin season is about to start so if you have difficulty choosing an altcoin, you might have difficulty making a profit. But if you focus on accumulating Bitcoin, your chance of making a profit over the next 5 years could be greater. Moreover, in 4 years there will be another halving and maybe there will be another new ATH for Bitcoin. By preparing a Bitcoin portfolio, at least you have saved in the form of Bitcoin from now on which can provide benefits in the future. But please remember that when investing, whatever it is, whether in Bitcoin or anything else, you have to use the money you can afford so that it doesn't interfere with you meeting your daily needs because that's what's more important. Investing is highly recommended but you also have to think about meeting your daily needs. Personally, and in my own opinion, we plebs shouldn't treat our little/limited capital like it's Warren Buffett's billions that needs to be "diversified". It will slow down our ROI plus it's probably not needed. Diversification is made to protect capital and control risks because their billions has more to lose in every small market move. For us plebs, if we truly want to make life-changing profit, then, only my personal opinion, we should take more risks and concentrate capital to just one investment that we can have strong conviction to HODL long term. If you ask me, it's a golden opportunity to buy and HODL Bitcoin.  Yes I understand your point, people who are trying to climb up the ladder when it comes to investments shouldn't be more concerned about diversification, when it is obvious that our funds are not even enough to buy us complete 2 or 3 bitcoins. Plebs has no business with diversification as we might run into trouble trying to do that. Diversification should be for people like Elon Musk and likes of them who have lots of billion dollars. Plebs should stick to the golden opportunity that bitcoin has given to all of us and hodl it as the only way to climb up the ladder. Yes it won't be over night but if we act according to the name of the thread buy and Hodl we have a chance. I agree with you on this, we have no business diversifying for now and many of us couldn't even afford to buy up to 4 bitcoins at once to think of diversifying, we are not talking against diversifying but it shouldn't be for early investors like us that still have a long way to go, but if you have the funds and you dont want to feel over allocated then its fine, but for me I'll prefer to build myself up in terms of cash and bitcoin before I think of diversifying my portfolio. I agree with you, its better to be strong in one asset (bitcoin), than to have so many weak investments. If I have build my bitcoin portfolio at least to maybe up to 5 years of accumulation I can now start think of diversifying but this might be too early in some case especially when i have not accumulated enough bitcoin, I always wanted to have at least 10 bitcoin before I considered any other investment, but you have also told me I should be prepared for a case where my investment doesn't give any return, and till now I've not actually understood the lesson you are trying to give me in respect to this, I'm building up myself in terms of cash too and I'm still consistent with buying bitcoin with DCA.
Once you can position yourself well in Bitcoin investment, you can start diversifying. But this diversification in altcoins may be more confusing because there are so many altcoins that we don't know which altcoins can rise. Moreover, it looks like altcoin season is about to start so if you have difficulty choosing an altcoin, you might have difficulty making a profit. @michellee, for me i consider JJG'S advice that after building up your Bitcoin investment portfolio to a certain point of considering diversification, that it is advisable to diversify in to real life investment such as selling commodities, real estate or land, investing in altcoin is more like gambling than investment. Fuck shitcoins, it is important spreading your investment in to different assets classes of which shitcoins is a no no for me I don't know about you, is your choice. IMO to diversify in alt coins is just like gambling with your money, and most of all they they depend on bitcoin for their value, what's the need to drink from a well, when you could go to the ocean, I can't put my money in any altcoin, investing in bitcoin is okay for me and It would yeild greater result and is more safe than investing in Altcoins, besides the alcoin market is filled with scam projects and shit coins with no rela world utility, and they are not even solving any problem, some even have poor management or evil schemes surrounding them. |
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Cryptocurrency prices have increased by 118% compared to last year. Similarly, prices are increasing by almost 83% in the last 04 months.The dramatic history price of Bitcoin peaks and the recent buzz around its upcoming "halving" its only fair to pose the most obvious question in front of us that-
Did the Bitcoin flight already leave investors? or is there still time to buy a ticket?
The attractions of Bitcoin investments has always been double the potential for significant returns and its suggested role as digital gold.Historically Bitcoin has rewarded the bold to investors. For the next "halving" currently on track for April, another bull run seems highly likely. Recent price gains although this potential wave should take Bitcoin to a whole other level as it did after the May 2020, July 2016 and November 2012.
IMO its never too late to start buying bitcoin, this is a major excuse that most persons give themselves that hinders them, when bitcoin hit 5k some persons thought it was too late, until they saw 20k and 62k and now 51k, the truth is bitcoin would continue to get expensive and your ticket to follow the flight is to start buying, many are anticipating bitcoin to reach 100k this year and up to 500k in 4 years time, bitcoin might be very expensive now but it's not too late for you to enter the race, if you start now and hold for long then you might also be in profit, bitcoin price grows exponentially and its a scare asset hence it would always increase in value, unlike gold that is been minned everyday bitcoin has a fixed supply and the more people hold the more expensive it would continue to get. |
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Mate you can't think everyone usage of bitcoin are thesame I know friends that make transactions in bitcoin daily and hence they have to keep their funds in software wallet, you can't expect them to be moving bitcoin every time they want to run a transactions, so it's not stupidity, it's actually taking advantage to reduce the fees you would spend moving your asset All the time from cold wallet to soft wallet. But for holders its not cool to keep your asset in soft wallet for security reasons. Use an open-source wallet like Electrum if you are actively making a trade.
Use a hardware wallet if your purpose is storing long-term.
We choose what type of wallet depends on our needs, that is the thing we are supposed to do. Because if we just think about security, both are still prone to hacking but this can be avoided if we know how to securely keep our passwords. In fact, many holders are using Electrum wallet and they have no complaints of getting hacked. This means that it depends on the person and how cautious we are when visiting sites and opening links.
I totally agree with you we chose wallet based on usage, someone who trades often would prefer a wallet like electrum while a holder would think of buying a hardware wallet, but what matters most is our security measures and precautions, anyone can get scammed irrespective of the wallet he uses what matters is how security conscious you are. |
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I'm sorry for your I'll health condition and I hope Bitcoin really brings a smile to your face which it would, my advice don't stop here l, buy more bitcoin if possible use DCA be consistent with what you have started build your emergency funds and reserves, take advantage of every dip you can and keep on building your stash.
Keep your holdings safe, you know how hard it was for you to get them, so don't waste them, don't fall for any ponzi scheme or even farming pool that tell you to stake your bitcoin for higher rewards, just keep diligence and your reward would surely come.
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Can you post your Bitcoin address?
I can also say I bought Bitcoin when the price was $1 and hold it until now, I bought Bitcoin when the price was $3K during Covid-19 and sold at $69K etc.
Since you're a very highly smartest person who's know when to own Bitcoin, when and how much the bottom in this year?
I understand he might be trying to deceive us, but not everyone would be comfortable sharing their bitcoin address with you, some persons like to keep their holdings private for their own security, moreover if he is trying to deceive us for the sake of getting praise out of it then he is wasting his time and only deceiving himself cause the bull run is coming, people are serious about investing and your busy seeking Congrats, when we would be celebrating a new ATH, what would you say to yourself. My joy of buying bitcoin at the right time when bought my first Bitcoin has been excessive in this period that Bitcoin price have risen continuously.
My story
As a newbie and first-time investor and holder of Bitcoin, I made a decision that has led me to a stage of financial satisfaction within a short time, just by risking the right amount and at the right time.
I bought Bitcoin when the price was low at about $22,000 price and i went all in with the whole capital at my disposal, as a newbie i was sceptical, but also i was ready to take that risk.
Luckily for me, Bitcoin is now at 52 thousand dollars, and i feel so excited to see the number of profits that i have accumulated within the shortest time which no other investment can give such profits in such a time frame, so I am glad.
I'm not a believer of words but we'll done if you really bought Bitcoin, my advice is don't sell now we are still starting the bull run and I think they is a lot more of up trend along the way, I believe you are here for the long term and prioritize your security and keep you coins safe from scammers, try hard wallet if you can afford one. The major thing here is you have started your bitcoin journey and even with a big boost, many of us never had the money to buy up to a whole bitcoin but here you are a newbie making such progress, be ready for everything that might want to shake your hands and make you sell. Good luck |
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If I'm not conversant with the way gambling takes advantage of people's greed i would be surprised that an army officer who has gone through years of training and discipline would find himself in such dip shit of debt through gambling.
It's true that uncontrolled gambling addiction can end people in great debt and even cause financial instability to people, but like I said uncontrolled, your elder brother is not the only gambler I've also seen people who has gambled for years without getting themselves into major mess but when gambling has entered your mind it can destroy you. So I think the lessons should be on self control as gamblers in terms of our greed cause at the end of the we are still the once to make the decision to gamble too much or nor.
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this question has been asked before about which is better dca or lump sump, and people's answers may vary depending on their condition, some may prefer dca or lump sump. but i see that the important thing is not how someone chooses their investment method, because either lump sump or dca is equally good, depending on where investors can position their finances. but the most important thing is how investors can be consistent with their investments and can set their long-term goals when investing and how their risks are managed. because most people only focus on which investment method is the best, and ignore these things, even though they are much more important than just the lump sump or dca investment method.
Yeah, both have their merits and demerits, as you mentioned, and it depends on individual targets, financial goals, and knowledge and experience about the market. And, since we all know that the cryptocurrency market is highly volatile and unpredictable, this makes the DCA method more suitable and viable based on how the market moves in general. Those who have no knowledge and experience about the market will barely get any benefits from making lumpsum investments because they will barely be able to time the market perfectly or at least well so that they can get good returns on their investments and their investments don't start losing value right after they are done. However, those who have enough knowledge and experience might find this method useful because they know they can time the market pretty well and earn more profit this way. Your right about this lump sum requires more knowledge about bitcoin to be successful than DCA, if an investor buy at the wrong time with lump sum he might remain on a loss for 2 years like those who bought at the last ATH of bitcoin would still be on a loss in their portfolio, but with DCA we have to worry less about market volatility and we can easily accumulate bitcoin without any need to time the market since its a very flexible strategy, its also a cost effective one since you can just chunk down your investment into smaller bits to suit your income. |
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IMO I do t think we do, bitcoin has enough testimonials already to make anyone who sees its value invest and no matter who promotes bitcoin skeptics would always be that way, no coiners would remain that way. Bitcoin has nothing to with gender, you might even be wrong cause who knows if women has bitcoin more than men, besides gender is not written on any address, I don't understand why you feel a lot of women are not involved in bitcoin anyway, try checking out some social media on crypto you would see both gender like all active on the community so I think you are mis informed on this assumption that they are not enough women involved in crypto.
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Satoshi envisioned bitcoin for p2p transactions but I Don see the reality of that happening now gas fees are still outrageous and I won't like to pay such amount for my daily transactions, and not every one can run a node to use lightning network, bitcoin is mainly uses as an asset that would yeild high income, satoshi did good job in building the framework for the world's greatest asset making it so scare, I won't say this is the reality he wanted but at least his dream got to stay alive and I am still enjoying decentralization out of it.
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We have talked a lot about patient to hold bitcoin for long and I think we also need to talk about building up ourselves in term of emergency, nothing disturbs our bitcoin holdings like emergencies that occur, just imagine planning to hold your bitcoin for 7 years and 3 years or even months in an emergency like health challenge occurs or even some unwanted billing that you must take care of, and if you don't have cash at hand you would have no choice than to dip your hands in your bitcoin and solve that problem.
The solution to emergencies in investment is to build ourselves up in cash as we invest and I mean saving money for emergency that may occur along the line to claim our effort and also building up reserves, a smart investor doesn't only invest in asset but also knows to keep money around in case something happens that can threaten his investment.
What I recommend doing is for us to allocate a percentage of our earnings to savings that we can bounce back to in case we encounter emergencies in the future, and this savings are not to solve just any problem but only emergency and that's why we label them emergency funds.
I owe this knowledge to the buy the dip and hold tread and courtesy @JayJuanGee
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Again, you must be talking down the road because I see no reason to focus on anything beyond bitcoin and cash in the beginning, and then once you build up your investment portfolio, then you might consider something like land and/or maybe equities.. but gold? bitcoin serves a similar purpose as gold but better, so I don't see any reason to get exposure to gold unless you already have it then maybe you figure out if you are going to keep it. But getting exposure to gold seems like a pretty BIGASS waste of time and not necessary, unless you happen to live in a situation or location that people are already accustom in trading in it.. but that seems less and less likely these days... but hey, whatever. Guys can do what they like in terms of those allocations and when (at what stage in their investment life) they might allocate in some of the assets that are neither bitcoin and cash.
I agree with you, its better to be strong in one asset (bitcoin), than to have so many weak investments. If I have build my bitcoin portfolio at least to maybe up to 5 years of accumulation I can now start think of diversifying but this might be too early in some case especially when i have not accumulated enough bitcoin, I always wanted to have at least 10 bitcoin before I considered any other investment, but you have also told me I should be prepared for a case where my investment doesn't give any return, and till now I've not actually understood the lesson you are trying to give me in respect to this, I'm building up myself in terms of cash too and I'm still consistent with buying bitcoin with DCA. |
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For long term holders I don't think we prioritize making profits from bitcoin right away expecially when the plan is to get up to 10 or 20 bitcoin over a long period of time, at this point dips becomes more favourable to us since we can use this opportunity to get more bitcoin at lower prices. I think k it depends on your approach and what you are doing, if you are trading then there is every tendency that you would make losses before you hone the skill and even as a professional you still make loses as some point. So i think this is not the case for everyone.
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Ignorance can really be more risky than people think, lack of information can lead to making bad decisions, In the crypto space news of scam never fade away as scammera always target new and ignorant persons, you would see people lose their holdings to phishing links and even simple scam format like taking advantage of their greed to get them to invest in fraudulent websites that offers outrageous profits.
People also make bad decisions in terms how they store their holdings, people still keep their bitcoin in online exchange instead of holding it in cold wallets.
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As a newbie, you should be more concerned about learning the forum rules so you don't get banned so early on the forum, lots of things can implicate you here like using AI to generate post or copying information from other sources without providing Link to reference the right source you copied from can be seen as plagiarism, this is a common mistake newbies make and it often implicates them.
Then you must priotise learning about bitcoin and how it works, that's the primary reason we are here.
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--snip--
Probably who ever buys an account will exit scam then
Why dont people keep it real
There are reasons why one would have multiple accounts... For example, one that's anonymous and one that can be linked to their real identity. Or an account that's coupled to one's brand and one personal account... As for account sales: people could buy an account to level up faster... In the past this happened out in the open, everybody knew an account could change hands and one should always be careful dealing with anybody cause you never knew if the account was still owned by the same owner. Somewhere around 2015/2016 (IIRC), the community took a harsher stand against account sales, and even tough it's technically still allowed to sell accounts, the community usually tags sold accounts to warn other people they're not dealing with the original owner. Nowadays, account sales probably happen off-forum, and i personally think this makes people less vigilant. Personally, i don't care if you have two accounts or buy an account without malicious intent: if you don't scam, don't spam and treat me fairly, i couldn't care less if you're using a sold account or not... But yeah, sold accounts can be used to scam, and multi accounts can be used to join campaigns with multiple users at the same time, i certainly don't condone this behaviour. Change of identity can really affect the trust system on the forum, another person with bad intentions could buy a high profile account and use it to scam others on the profile, selling account puts others at risk. Having multiple accounts is legal just that account managers, put rules against alt account on one camping cause you might eating up space for other people who want to participate in the campaign and cheating is against campaign rules so they do have the right to give you a negative trust for cheating in campaign. |
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The truth is, people weren't so serious about Bitcoin when it was so cheap. They just bought it and left it as is. They forgot about their holdings; once Bitcoin reached a significant price, they recalled their holdings. They start finding out about their Bitcoin wallet data. A few people got their data perfectly, and a few lost their data. This is a mistake and the result of not being serious. So we have to learn the right way when we intend to invest in something. However, it would be traced if the recovery team stole the funds. The victim should know the address and check the transaction details. Hackers will definitely move the funds.
Your right , most person never thought bitcoin would become this valuable and some didn't take it serious and forgot about it, but this guy had only remembered that he had such amount of Bitcoin after a very long time and it sounds some how to me, most people would have remembered about 3 years ago or even when it reached 20k and some 2k but this guy had to wait so long to remember, the story seems made up in a way, and even if it's true then the guy must have been very ill educated about how to store his bitcoin, he should have kept copies to the file or even have hard copy well hidden, but as you said he must have been very less concerned about it and didn't believe in bitcoin. |
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DCA strategy is one the best strategy in bitcoin investment.An investor that wants to be successful in bitcoin investment must adopt the DCA strategy
No doubt, dca strategy has enormous benefits as regards to Bitcoin investment the reason why it dominates the thread, but on the contrary a lump sum buyer can as well be successful in his Bitcoin investment, in my opinion that lump sum buying can as well leads to significant returns, you can actually set up a portfolio through the lump sum buying and allow it to grow. the very best strategy is any of the strategy that allows an investor to hodl his investment and sleep well at night, whether it is dca or lump sum, the main factor to be successful or not in Bitcoin investment is the ability to hodl long term to take advantage of it's comp youounding value,the right strategy is unique to every investor that is why it is of great importance for any investor to tailor their strategy to their own risk tolerance and financial situation as well as their own conviction level to prevent a situation that could lead to emotional decision and selling too soon. Your quite right, what really matters is the hold, some investors has even more funds than others and yet they can't develop the emotional intelligence to apply self control on themselves to hold for long term to yeild better results, some persons prefer to engage in short term investment cause they can't hold bitcoin for long, so it doesn't matter how you accumulate either lump sum or DCA is good, just that with lump sum you buy at a particular point in the market and DCA we buy At different points in the market at a continuous intervals, and with this we accumulate some coins at a lower price than others and thus we are at advantage while a lump sum investor suffers more from market volatility than a DCA investor. But irrespective of the method of buying, long term holding is what pays off the most. |
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IMO you cant really get anywhere by doing research on altcoins, cause I've seen many altcoins with good background and all the hype still go flat and end up beign a shit project, what I do myself when I want to invest in altcoins is that I just go for exchange altcoins like bnb, Ethereum, tron and all that although they might not give you the kind of return of investment you are expecting but at least this are well filtered coins with reputation to keep.
I also go for others but i just follow the hype and do a little research myself, but I'll try implementing your strategy to see where I gets me. Investing in Altcoins is risky and everone should have that in mind.
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At some point we need to pick sides on what to invest in, you stated that in times of economic crisis we chose natural asset but that's you trying to play safe with investment, and you know you won't be getting any much return of investment from tron apart from trying to store your monetary value and at the end of the day you would still change back to dollar and dollar is suffering from inflation as most other fait currency in the world, I think it's good you pick a side like investing in bitcoin or Ethereum, great capitalist and investors would chose the right asset and hold.
I'm not saying what you are doing is bad but come to think of it your playing safe and it's good, but to plan for the future better I think it's good you take some risks that would give you a good 10x on your investment after a time range of 10 years like bitcoin.
What I'm saying try diversifying your investment, one could play out well, and putting all your hopes in tron is bad, what if things go wrong, your playing safe not smart. Smart investors knows the risk and find out ways to handle them.
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