I listened to an radio interview on this and the reason the person give was that, most people who go contrary to them are newbies. Because they do not yet have a lot of bitcoin holdings, they do not see the need in using a decentralized exchange. According to them, they are more familiar with it.

Another reason is that rule/law regarding bitcoin in some countries has made centralized exchanges like Binance the saviour for people to easily conduct peer-to-peer exchange. They have created the platform for them. In addition, there are some free incentives they get for using centralized exchanges.

I disagree with this statement. It is my believe that anyone who really wants to invest in bitcoin would irrespective of the rise or drop in price. They would have done their homework and learned that Dollar-Cost-Averaging strategy
helps them to buy bitcoin consistently at a specific time whether the price is high or. That is to say, the price wouldn't be their concern. Additionally, investing in bitcoin has nothing to do with the price rather with the individual.

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This is the biggest mistake that beginners can ever make because they won't even be able to tell that these exchanges have higher fees or that the transaction times are slower than a snail. In addition, the exchange rates that are terrible. Inappropriate crypto exchange platforms are a cesspool for all sorts of security breaches - hacks, identity theft, etc.

Dear beginners, ask your friends to recommend top exchange platforms and follow up with other questions too. It is better you learn from the experience or mistakes of others than your as it will save you time.

 

It isn't easy to not be afraid when you check the market daily especially when you know that you have little bitcoin and the process to buy them was arduous. Well, I think that we do not have any option than to keep holding. We have too much knowledge and faith in bitcoin's potential backed up with historical evidence to chicken out now.

Stay on course guys. Stop looking at the price. Stay consistent with your strategy and keep buy small portions weekly, monthly or whatever way you have decided to buy more. It is when the market price shakes that we must hold for dear life.

There's always a popular non-financial crypto advice to not take out a loan to invest in Bitcoin or go all in. These are useful and crucial advice. However, I am starting to think that it doesn't apply to everyone in the Bitcoin ecosystem particularly institutional investors.

This is stale news but I have to bring it back to buttress my point. This JUN 6 2022 headline of this CNBC report reads "Microstrategy takes on $2.4 billion in debt to buy bitcoin despite recent volatility"

This company actually took out a loan to buy Bitcoin. They are one of the top companies when it comes to Bitcoin holdings. I wonder what Michael Saylor was thinking. Is there a possibility that the warning to not take out a loan to buy Bitcoin doesn't apply to institutional investors being that they have been performing well?

The summary of what I think from the topic -
1. Do not trust anyone: People make promises to make you feel good and they my immediately regret it because they would have discovered that they can fulfill their promises but won't tell you. Instead they'll just ghost you.

2. Work hard and work smart for your money: Most times having your own momey and practicing financial prudence through hardwork and smart work  is far better than waiting on someone else because you will be their mercy.

3. Focus on what is in your control: Like your friend who went into gambling. Avoid it. You can't control that outcome. Instead focus on what you can control or is in your control not on luck or chance.

4. Have more than one option: If someone promises to give you money, never believe them. Look for other options so that if they fail you, you'd still be fine.

People who benefit from war are not the parties fighting but those who seem to be on the sidelines but are behind fuelling the conflict through whatever means.

We do not always know who these people behind the scenes are but we know that they are powerful people from developed countries that have to score a point with war regarding defense budget, neocolonialism, resources exploitation etc.

And these people are everywhere whether in war between countries (Russia vs Ukraine) or among countries (for example what is going on in Sudan right now)

If you are a trader do not get stuck on your last trader because you made a loss. Do not overthink it. If you do, you will remain stuck there, you will refuse to see the bigger picture.

You should realize that most times we do not have control over the market. We may have done or thought we did everything to make us profit but then the market does its thing. Despite this, keep executing on the market.

Furthermore someone said that the losses incurred in trading especially when you were disciplined enough to stick to your plans and the proper risks management strategies should not be considered losses. He said they are akin to operational costs for running a business.

What do you think?

Is the pension fund money that the pensioner can afford to lose? How much percentage of the funds can the person really afford to lose. How much knowledge does the individual have about bitcoin investment.

Because where their knowledge is minimal, they are the ones who are very quick to sue whoever it was that introduced them into cryptocurrency.

It is too risky to invest and the person should consider a more stable market like the real estate market than bitcoin. Next to real estate investing is stocks and bonds they are also relative stable.

Lastly, unless you are financial adviser do not make any decision for your friend. Get him or them a financial adviser.

I like your honest take on this which I believe comes from a place of deep self-awareness. You seem like an easy-going person who doesn't see the accumulation of bitcoin as a "I must get it by all means." People like you eventually no matter how long, would get it 1 bitcoin.

And what you said is the truth, it is a statistical destiny that most of us won't become rich or earn a great deal of money through Bitcoin. However, bitcoin will be able to make some positive changes in our lives. Such as helping us to meet an urgent need, help us to bypass country-restricted border transactions.

Summarily, we should diversify our portfolio - a little bitcoin here, a little stock there, a little real-estate investment here, a little other investment there. That's how it should be. And everyone lives happily ever after.

This so-called measure has several benefits and drawbacks. The elder employees can benefit from their years of experience if they are retained on the job for longer, which is one advantage. The drawback of this is that many workplaces will report low performance because there is an inverse relationship between a person's success at work and their deterioration in cognitive and physical capacities.

Regardless, what I think is that the government shouldn't shove it down the throat of people. Workers who are approaching retirement age should be given a choice after appraisal to keep working or retire.

What sense does this make? Would you agree or disagree?

I see bitcoin as a financial instrument that doesn't exit alone or is in a world of its own. It exists with other financial instruments - stocks, bonds, etc. Thus, it is logical that what affects one may have an indirect effect on the other one.

We recall how during the inflation in some countries people moved their wealth to bitcoin and held it there. They didn't even want their net worth to drop even if it was a split second. These people already know that stocks and bonds would be affected by the inflation and they would be affect pretty badly.

However, once there economy has returned to its normal state, that it the inflation has dropped and they would most likely return to having their trust in the financial system and keep their funds either in the bank, or buy stocks and bonds rather than bitcoin. We have seen this happen a lot of the times since bitcoin was created.

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Ban on crypto is a joke. The truth remains that the world, or government can't do anything about bitcoin.
The worse they can do is go after institutions promoting bitcoin and cause them to fall so that they may have reasons to paint bitcoin in a negative light. They went after miners, the miners left the country, it is over them now and they should be more accommodating of bitcoin because it is the future.

Bitcoin will increase people's trust in their government, especially in public office holders in nations with high corruption indices.
particularly those who are in charge of carrying out a major project. Since bitcoin transactions are recorded on a public ledger, it will be simple for citizens to review the ledger and determine whether funds allocated to a project or budgeted for that purpose were actually spent that way or whether they were diverted by a government official for personal gain. These public office holders will be unable to forge financial transactions. Corruption will reduce, and openness, transparency, accountability, and fairness will all be encouraged.

The key to emotional control is strategy.
I view traders who lose control as lacking in strategy. Alternately, they may have had a plan but abandoned it.
Having a trading strategy and taking action on it can help you avoid making decisions on the spur of the moment that are motivated by FUD or another factor.

Check it out: those with emotional control have well-thought-out analyses, exit strategies from markets, and plans for how to handle risk effectively.

I am just thinking that now this sounds quite good, they are paying their debts and nothing is happening to the price of bitcoin.
The what if question I have is, what if other institutional investors decide to follow suite will anything happen to the price of bitcoin in the long run.
I may be wrong but isn't this not the same as whale selling-off their bitcoins.

I agree with your initial statement, so I paid attention to it.
To support your argument even further, I will point out that without economic power, which is the foundation upon which political power is formed, it will be challenging for individuals, groups, businesses, governments, and entire countries to achieve any worthwhile aims and objectives.
Consider for a moment that during the COVID-19 era, the nations who suffered the most in terms of being able to offer relief supplies and palliatives for their inhabitants were those that lacked the economic might of their governments.

You can understand thus why I concur with the OP's first premise.