Buy the DIP, and HODL!

[Tungbulu]

Diversifying one's investments is indeed an amazing strategy but just as you've rightly stated, filling one's bag with shitcoins isn't the best way to diversify, whoever tells you it is, is simply lying to you or is naive.
There are real life assets that also have long-term potentials just like bitcoin and you can consider those other options to diversify. Gold is an amazing option, it's been in the market, even long before bitcoin came into existence, and you can also consider it for its long-term potentials too just like bitcoin.
In China today, Silver is also a hot cake and quite a viable option for investment diversification.

There are so many of them to be considered.

Fuck gold and silver and the idea diversifying.

Figure out your bitcoin plan first, and then maybe if you have accumulated a decent amount of bitcoin, then maybe at some point it might become justifiable to diversify, but talking about diversification into gold and/or silver makes it sound like you are pumping inferior products and trying to compare them to bitcoin when bitcoin is likely in the ballpark of 1000x better then each of them...so no need to discuss any particulars of them or to pump them, especially here in this thread when we are talking about bitcoin.

I think you must've misunderstood my point...
I'm not trying to say diversifying from Bitcoin to other assets like gold and silver is an option, let alone being a better option.

No!

No!!

Noooo!!!

All I'm trying to say is that, for those who have indeed accumulated a good number of Bitcoin and are considering diversification, rather than filling their bags with variety of shitcoins which are totally unsafe and highly risky, it would be a lot more preferable and justifiable to even consider investing on real life assets that guarantees the safety of one's finance, and have a good track record or longevity and long-term potentials, but that doesn't mean gold's potential could be compared to Bitcoin, because bitcoin has undoubtedly proven to be the most profitable and safest asset to invest in.

I feel the reason why JJG reacted so is that you are too early in bitcoin accumulation to start thinking of diversifying into silver or Gold. Not actually that those listed diversification are so bad, but talking about diversification when you have not even accumulated much as expected and you are taking of diversification, it is a kind of situation that surely put you in confusion or even considering diversifying into things which should have be a second option rather bringing them up at an initial stage. What you should have been thinking right now is to accumulate more of bitcoin than talking about diversification. Though it is a reply to someone which you where advising, but sometimes advice we gave surely mean another thing in anticipation. What we advise is what we feel or what we are about to do so something it better we don't even have that though if not it will mislead us.

About diversification, I wasn't considering diversifying my investment, at least not just yet. I know better than to start thinking about diversification at this stage of my Bitcoin accumulation.

I was merely trying to make a point, which is that for people who have accumulated a good number of Bitcoins and are considering diversification, it'll be a lot more safer to consider investing in assets like Gold and Silver rather shitcoins.

Even though you have completed accumulating the quantity of bitcoin you want to accumulate and you decide to diversify your investment, it shouldn't be on assets like gold or silver because it will take you time before you will be in profit from a gold or silver investment. You should diversify your investment in investments that can yield a profit early so that it will help you earn money that will give you extra hands in holding your bitcoin investment for the long term, such as selling commodities.

The most important aspect of investment is the safety and assurance of profit overtime, how long it takes shouldn't be the problem, even Bitcoin takes even longer to give cool profits, but what makes Bitcoin investment exceptionally cool is the assurance and potential for profitability in the long run, so whether gold investment takes longer or shorter time before you get profit really doesn't matter as long as your profit is guaranteed and your wealth is free from inflation.
So the fact that gold and silver offers your asset safety just like land and other real estate properties makes it a viable option for diversification, or wouldn't you agree with me?

I understand your point, Mate. Everyone have different view, I buy your idea of diversifying but that will be valid when you have gone or have reached a certain stage of accumulation in Bitcoin (have enough stash of Bitcoin). It up to anyone to decide were he/she would like to invest because we cannot necessary build only our Bitcoin portfolio, there are still many areas, like me I have future intention of venturing into Oil and Gas, but for now heads down to build a solid Bitcoin portfolio first, this also relate to disposable income available, and your income generation in general.

Be consistent, focus on Bitcoin, and accumulate as much as you can with a strategic plan. Later on depending on how far you have gone in Bitcoin Investment, with readily disposable income you can then decide on your next line of action.

Most definitely.
The most important thing is to first have a solid bitcoin portfolio before even thinking about diversification to any other sector because bitcoin offers the highest assurance and profitability than every other asset, with a solid bitcoin portfolio, your financial future is secure and guaranteed, then you can have the opportunity and space to also focus on diversification and spreading your investment to other sectors that could put more money to your pocket.

[Mayor of ogba]

Diversifying one's investments is indeed an amazing strategy but just as you've rightly stated, filling one's bag with shitcoins isn't the best way to diversify, whoever tells you it is, is simply lying to you or is naive.
There are real life assets that also have long-term potentials just like bitcoin and you can consider those other options to diversify. Gold is an amazing option, it's been in the market, even long before bitcoin came into existence, and you can also consider it for its long-term potentials too just like bitcoin.
In China today, Silver is also a hot cake and quite a viable option for investment diversification.

There are so many of them to be considered.

Fuck gold and silver and the idea diversifying.

Figure out your bitcoin plan first, and then maybe if you have accumulated a decent amount of bitcoin, then maybe at some point it might become justifiable to diversify, but talking about diversification into gold and/or silver makes it sound like you are pumping inferior products and trying to compare them to bitcoin when bitcoin is likely in the ballpark of 1000x better then each of them...so no need to discuss any particulars of them or to pump them, especially here in this thread when we are talking about bitcoin.

I think you must've misunderstood my point...
I'm not trying to say diversifying from Bitcoin to other assets like gold and silver is an option, let alone being a better option.

No!

No!!

Noooo!!!

All I'm trying to say is that, for those who have indeed accumulated a good number of Bitcoin and are considering diversification, rather than filling their bags with variety of shitcoins which are totally unsafe and highly risky, it would be a lot more preferable and justifiable to even consider investing on real life assets that guarantees the safety of one's finance, and have a good track record or longevity and long-term potentials, but that doesn't mean gold's potential could be compared to Bitcoin, because bitcoin has undoubtedly proven to be the most profitable and safest asset to invest in.

I feel the reason why JJG reacted so is that you are too early in bitcoin accumulation to start thinking of diversifying into silver or Gold. Not actually that those listed diversification are so bad, but talking about diversification when you have not even accumulated much as expected and you are taking of diversification, it is a kind of situation that surely put you in confusion or even considering diversifying into things which should have be a second option rather bringing them up at an initial stage. What you should have been thinking right now is to accumulate more of bitcoin than talking about diversification. Though it is a reply to someone which you where advising, but sometimes advice we gave surely mean another thing in anticipation. What we advise is what we feel or what we are about to do so something it better we don't even have that though if not it will mislead us.

About diversification, I wasn't considering diversifying my investment, at least not just yet. I know better than to start thinking about diversification at this stage of my Bitcoin accumulation.

I was merely trying to make a point, which is that for people who have accumulated a good number of Bitcoins and are considering diversification, it'll be a lot more safer to consider investing in assets like Gold and Silver rather shitcoins.

Even though you have completed accumulating the quantity of bitcoin you want to accumulate and you decide to diversify your investment, it shouldn't be on assets like gold or silver because it will take you time before you will be in profit from a gold or silver investment. You should diversify your investment in investments that can yield a profit early so that it will help you earn money that will give you extra hands in holding your bitcoin investment for the long term, such as selling commodities.

The most important aspect of investment is the safety and assurance of profit overtime, how long it takes shouldn't be the problem, even Bitcoin takes even longer to give cool profits, but what makes Bitcoin investment exceptionally cool is the assurance and potential for profitability in the long run, so whether gold investment takes longer or shorter time before you get profit really doesn't matter as long as your profit is guaranteed and your wealth is free from inflation.
So the fact that gold and silver offers your asset safety just like land and other real estate properties makes it a viable option for diversification, or wouldn't you agree with me?

As long as you keep trying to prove that diversifying our investment in gold or silver is good, I disagree with you. Yes, bitcoin is a long-term investment. Before we can make a good profit from our bitcoin investment, we have to hold it for a long time, such as 5 years. But you fail to understand that since we have accumulated the quantity of bitcoin we intend to accumulate, it is not good for us to diversify our investments into another long-term investment, which should take the same number of years as bitcoin to give us a return. We should diversify our investments in something different from bitcoin so that we can use the money from the investment to solve our living expenses, and it will make us not to depend on our investment to survive or sell it in a hurry to solve unexpected problems.

[Proty]

Diversifying one's investments is indeed an amazing strategy but just as you've rightly stated, filling one's bag with shitcoins isn't the best way to diversify, whoever tells you it is, is simply lying to you or is naive.
There are real life assets that also have long-term potentials just like bitcoin and you can consider those other options to diversify. Gold is an amazing option, it's been in the market, even long before bitcoin came into existence, and you can also consider it for its long-term potentials too just like bitcoin.
In China today, Silver is also a hot cake and quite a viable option for investment diversification.

There are so many of them to be considered.

Fuck gold and silver and the idea diversifying.

Figure out your bitcoin plan first, and then maybe if you have accumulated a decent amount of bitcoin, then maybe at some point it might become justifiable to diversify, but talking about diversification into gold and/or silver makes it sound like you are pumping inferior products and trying to compare them to bitcoin when bitcoin is likely in the ballpark of 1000x better then each of them...so no need to discuss any particulars of them or to pump them, especially here in this thread when we are talking about bitcoin.

I think you must've misunderstood my point...
I'm not trying to say diversifying from Bitcoin to other assets like gold and silver is an option, let alone being a better option.

No!

No!!

Noooo!!!

All I'm trying to say is that, for those who have indeed accumulated a good number of Bitcoin and are considering diversification, rather than filling their bags with variety of shitcoins which are totally unsafe and highly risky, it would be a lot more preferable and justifiable to even consider investing on real life assets that guarantees the safety of one's finance, and have a good track record or longevity and long-term potentials, but that doesn't mean gold's potential could be compared to Bitcoin, because bitcoin has undoubtedly proven to be the most profitable and safest asset to invest in.

I feel the reason why JJG reacted so is that you are too early in bitcoin accumulation to start thinking of diversifying into silver or Gold. Not actually that those listed diversification are so bad, but talking about diversification when you have not even accumulated much as expected and you are taking of diversification, it is a kind of situation that surely put you in confusion or even considering diversifying into things which should have be a second option rather bringing them up at an initial stage. What you should have been thinking right now is to accumulate more of bitcoin than talking about diversification. Though it is a reply to someone which you where advising, but sometimes advice we gave surely mean another thing in anticipation. What we advise is what we feel or what we are about to do so something it better we don't even have that though if not it will mislead us.

About diversification, I wasn't considering diversifying my investment, at least not just yet. I know better than to start thinking about diversification at this stage of my Bitcoin accumulation.

I was merely trying to make a point, which is that for people who have accumulated a good number of Bitcoins and are considering diversification, it'll be a lot more safer to consider investing in assets like Gold and Silver rather shitcoins.

Even though you have completed accumulating the quantity of bitcoin you want to accumulate and you decide to diversify your investment, it shouldn't be on assets like gold or silver because it will take you time before you will be in profit from a gold or silver investment. You should diversify your investment in investments that can yield a profit early so that it will help you earn money that will give you extra hands in holding your bitcoin investment for the long term, such as selling commodities.

It is quite wrong to say that gold is not a good portfolio diversifier because investors doesn't diversify their investment because they want to make early profit but rather because of the fear of losing their money. after you might have accumulated the amount of bitcoin you want you can invest your disposable income into other assets . more so you can only touch your bitcoin holding when you don't have an emergency fund. I  would also love it for you to be more specific in those  selling commodities , because gold is also a selling commodity.

[laijsica]

Investing a decent amount is also another way to say invest with an amount you can afford to lose. Even if one is responsible or irresponsible, he/she should know that it's very important to invest with an amount that they can always afford to risk. Everyone has an amount that they can afford to lose, but most people don't know.

I don't know if I'm getting you right but why do i feel that  your perception on Bitcoin investment is for trading because when you advised him to use the only money he can afford to lose, perhaps indirectly you are saying that there is a higher chance for him to lose his money Bitcoin or in other words referring to gambling investment, however in as much as nothing is guaranteed when it comes to investment but with Bitcoin success is certain if you are ready to hold, so actually the risk you are talking about should be actually dependent on the kind of investment you are talking about because if your pattern is for a long term holding I wouldn't use the word risk because it seems that you don't really understand or know the potential of Bitcoin you are investing on.

Any money you invest into bitcoin should come from disposable income.. so by definition it is extra money and/or money that you can afford to lose.

Your bitcoin investment could go to zero, so any money you invest could be lost 100%, and you should be prepared for that possibility with any money you invest into bitcoin.

Of course, every investor should make a decision to invest in Bitcoin based on holistic considerations. Overall consideration here is the possibility of high profit or investment loss. Consideration of disposable income as capital and the expectation of potential profit associated with it certainly helps to consolidate the consistency of each buying. Future determination of hard-earned income and the decision to hoard Bitcoin is definitely going to be positive as the system has often cheated one following the historical footsteps of the local currency investment journey.
An investment decision with potential returns like Bitcoin and its past price history is certainly a beacon of hope for small investors like us. Although you always say it can be high and it can also go to zero. Your whereabouts must be reasonable because none of us are sure where its value will go. But I think behind the negative attitude we must keep the positive influence which can encourage us to accumulate more Bitcoins. Long-term trends in holding and holding during bullish and overbought each dips.

Your whole post is a bit weird and unclear laijsica, yet it may be worth clarifying that one of the reasons that any of us might consider the possibility that bitcoin could go to zero or to have some kind of a negative rather than a positive performance outcome is so that we temper our investment amount in order to account for those kinds of considerations.

Sure the most aggressive of bitcoin investors might shoot to come closed to investing 100% of their disposable income into bitcoin, and surely there is value in being aggressive, yet at the same time, if they are investing close to 100% of their disposable income into bitcoin for long periods of time, they are likely going to be putting unnecessary and undue stress upon their finances and their psychology, especially since bitcoin is an asymmetric bet to the upside in which investors can lose up to 100% of what they put in, but there are also various great upside scenarios, so even relatively whimpy investors might well end up finding themselves to have had profited quite fantastically from their having had decided to p;ut some level of their disposable income into bitcoin (even if it was a relatively whimpy amount in the 1% to 5% territories.

None of us can decide the balance level for the investment levels of anyone else, so there can be ways to take a reasonably balanced or a somewhat aggressively leaning investment approach to bitcoin, and still maintaining a fair amount of balance and/or enjoyment in life because there is some value to spending some money while you are young rather than completely deferring gratification and neglecting your own psychological and/or social well-being that might sometimes be better off by spending some money while you live rather than completely deferring gratification based on choosing to invest on the high side of aggressiveness into bitcoin.

It is going to be risky for Bitcoin investors to invest 100% of their disposable income or accumulate aggressively, which may later negatively affect the investment for the duration of that emergency. I think I got the gist of what you said. If 10% or 20% of disposable income can be considered for investment, then the rest of the Floating Cash can be reserved for emergency needs and the amount of float should be such that the daily needs of the family can be met for 6 months or more. This arrangement is definitely going to be positive for long-term investment in the future as the amount of cash depends on increasing your Bitcoin stash and holding it for a long time.

[Ruttoshi]

Diversifying one's investments is indeed an amazing strategy but just as you've rightly stated, filling one's bag with shitcoins isn't the best way to diversify, whoever tells you it is, is simply lying to you or is naive.
There are real life assets that also have long-term potentials just like bitcoin and you can consider those other options to diversify. Gold is an amazing option, it's been in the market, even long before bitcoin came into existence, and you can also consider it for its long-term potentials too just like bitcoin.
In China today, Silver is also a hot cake and quite a viable option for investment diversification.

There are so many of them to be considered.

Fuck gold and silver and the idea diversifying.

Figure out your bitcoin plan first, and then maybe if you have accumulated a decent amount of bitcoin, then maybe at some point it might become justifiable to diversify, but talking about diversification into gold and/or silver makes it sound like you are pumping inferior products and trying to compare them to bitcoin when bitcoin is likely in the ballpark of 1000x better then each of them...so no need to discuss any particulars of them or to pump them, especially here in this thread when we are talking about bitcoin.

I think you must've misunderstood my point...
I'm not trying to say diversifying from Bitcoin to other assets like gold and silver is an option, let alone being a better option.

No!

No!!

Noooo!!!

All I'm trying to say is that, for those who have indeed accumulated a good number of Bitcoin and are considering diversification, rather than filling their bags with variety of shitcoins which are totally unsafe and highly risky, it would be a lot more preferable and justifiable to even consider investing on real life assets that guarantees the safety of one's finance, and have a good track record or longevity and long-term potentials, but that doesn't mean gold's potential could be compared to Bitcoin, because bitcoin has undoubtedly proven to be the most profitable and safest asset to invest in.

I feel the reason why JJG reacted so is that you are too early in bitcoin accumulation to start thinking of diversifying into silver or Gold. Not actually that those listed diversification are so bad, but talking about diversification when you have not even accumulated much as expected and you are taking of diversification, it is a kind of situation that surely put you in confusion or even considering diversifying into things which should have be a second option rather bringing them up at an initial stage. What you should have been thinking right now is to accumulate more of bitcoin than talking about diversification. Though it is a reply to someone which you where advising, but sometimes advice we gave surely mean another thing in anticipation. What we advise is what we feel or what we are about to do so something it better we don't even have that though if not it will mislead us.

About diversification, I wasn't considering diversifying my investment, at least not just yet. I know better than to start thinking about diversification at this stage of my Bitcoin accumulation.

I was merely trying to make a point, which is that for people who have accumulated a good number of Bitcoins and are considering diversification, it'll be a lot more safer to consider investing in assets like Gold and Silver rather shitcoins.

Even though you have completed accumulating the quantity of bitcoin you want to accumulate and you decide to diversify your investment, it shouldn't be on assets like gold or silver because it will take you time before you will be in profit from a gold or silver investment. You should diversify your investment in investments that can yield a profit early so that it will help you earn money that will give you extra hands in holding your bitcoin investment for the long term, such as selling commodities.

The most important aspect of investment is the safety and assurance of profit overtime, how long it takes shouldn't be the problem, even Bitcoin takes even longer to give cool profits, but what makes Bitcoin investment exceptionally cool is the assurance and potential for profitability in the long run, so whether gold investment takes longer or shorter time before you get profit really doesn't matter as long as your profit is guaranteed and your wealth is free from inflation.
So the fact that gold and silver offers your asset safety just like land and other real estate properties makes it a viable option for diversification, or wouldn't you agree with me?

As long as you keep trying to prove that diversifying our investment in gold or silver is good, I disagree with you. Yes, bitcoin is a long-term investment. Before we can make a good profit from our bitcoin investment, we have to hold it for a long time, such as 5 years. But you fail to understand that since we have accumulated the quantity of bitcoin we intend to accumulate, it is not good for us to diversify our investments into another long-term investment, which should take the same number of years as bitcoin to give us a return. We should diversify our investments in something different from bitcoin so that we can use the money from the investment to solve our living expenses, and it will make us not to depend on our investment to survive or sell it in a hurry to solve unexpected problems.

I disagree with you that if you diversify your investment into a different assest that is not in line with bitcoin, that is also a long term investment will become a problem for that investor, and that we should diversify into an investment that we can use to solve our living expenses in order for us not to touch sell our bitcoin investment to survive when we are faced with challenges.

 You are contradicting yourself, because any investor that wants to diversify must have reached a level that he feels he have enough Bitcoin and he wants to channel his resource into another asset that his not bitcoin so that he does not have all his investment on bitcoin so that if one is not doing well, the other can balance it. Such person have being investing into bitcoin for long and for him to reach that level, it means that he has every other things in place that has prevented him from selling his bitcoin investment until he reached the level of him feeling he has too much.

That investor already has an emergency funds, reserve funds and float and diversifying in another long term asset will not affect him financially, because he still have his means of income. Diversifying is good but it is only for people who have a broad knowledge of investing and the value of that investment overtime. I am poor at this, so I would prefer to hodli my bitcoin and maybe diversify into cash related properties, but the bottomline is that bitcoin can give you a higher profit that any other asset that you diversify into and the odds of bitcoin value to increase and last for long is high.

[I_Anime]

Diversifying one's investments is indeed an amazing strategy but just as you've rightly stated, filling one's bag with shitcoins isn't the best way to diversify, whoever tells you it is, is simply lying to you or is naive.
There are real life assets that also have long-term potentials just like bitcoin and you can consider those other options to diversify. Gold is an amazing option, it's been in the market, even long before bitcoin came into existence, and you can also consider it for its long-term potentials too just like bitcoin.
In China today, Silver is also a hot cake and quite a viable option for investment diversification.

There are so many of them to be considered.

Fuck gold and silver and the idea diversifying.

Figure out your bitcoin plan first, and then maybe if you have accumulated a decent amount of bitcoin, then maybe at some point it might become justifiable to diversify, but talking about diversification into gold and/or silver makes it sound like you are pumping inferior products and trying to compare them to bitcoin when bitcoin is likely in the ballpark of 1000x better then each of them...so no need to discuss any particulars of them or to pump them, especially here in this thread when we are talking about bitcoin.

I think you must've misunderstood my point...
I'm not trying to say diversifying from Bitcoin to other assets like gold and silver is an option, let alone being a better option.

No!

No!!

Noooo!!!

All I'm trying to say is that, for those who have indeed accumulated a good number of Bitcoin and are considering diversification, rather than filling their bags with variety of shitcoins which are totally unsafe and highly risky, it would be a lot more preferable and justifiable to even consider investing on real life assets that guarantees the safety of one's finance, and have a good track record or longevity and long-term potentials, but that doesn't mean gold's potential could be compared to Bitcoin, because bitcoin has undoubtedly proven to be the most profitable and safest asset to invest in.

I feel the reason why JJG reacted so is that you are too early in bitcoin accumulation to start thinking of diversifying into silver or Gold. Not actually that those listed diversification are so bad, but talking about diversification when you have not even accumulated much as expected and you are taking of diversification, it is a kind of situation that surely put you in confusion or even considering diversifying into things which should have be a second option rather bringing them up at an initial stage. What you should have been thinking right now is to accumulate more of bitcoin than talking about diversification. Though it is a reply to someone which you where advising, but sometimes advice we gave surely mean another thing in anticipation. What we advise is what we feel or what we are about to do so something it better we don't even have that though if not it will mislead us.

About diversification, I wasn't considering diversifying my investment, at least not just yet. I know better than to start thinking about diversification at this stage of my Bitcoin accumulation.

I was merely trying to make a point, which is that for people who have accumulated a good number of Bitcoins and are considering diversification, it'll be a lot more safer to consider investing in assets like Gold and Silver rather shitcoins.

Even though you have completed accumulating the quantity of bitcoin you want to accumulate and you decide to diversify your investment, it shouldn't be on assets like gold or silver because it will take you time before you will be in profit from a gold or silver investment. You should diversify your investment in investments that can yield a profit early so that it will help you earn money that will give you extra hands in holding your bitcoin investment for the long term, such as selling commodities.

It is quite wrong to say that gold is not a good portfolio diversifier because investors doesn't diversify their investment because they want to make early profit but rather because of the fear of losing their money. more so I would love it for you to be more precise in those  selling commodities , because gold is also a selling commodity.

Is not bad to diversify yah money in other investment apart from diversifying in shitcoins (which is not smart at all). But one thing you should know is that before thinking of diversifying your money in other investment, is that you should try to be in a better position in your Bitcoin Accumulation before thinking of diversifying, like having enough stashes in your portfolio. To be in a safer side before thinking of diversifying, because if you are accumulating Bitcoin and same time diversifying you will only slow down your Bitcoin accumulation, which may lead to you not having enough bitcoin stash in your portfolio, which may eventually lead to you not yielding a better profits.

And before diversifying always take your time to do some research before putting your cash any investment.

[Justinapeter]

I discussed the final investment decision directly with my family. People in my family don't know about Bitcoin but when I told them about Bitcoin and explained it to them for a while they got some idea about Bitcoin. I explained them about Bitcoin in such a way that they supported my investment. It's not like I misled my family into investing, I gave my family a real picture of Bitcoin investing which they really liked.  
My family members have assured me that I am planning my future where other children take money from their parents and buy drugs and other bad things with that money. They were happy with my plan and said that they would help me financially or otherwise in terms of investment.  

It is good that you have convinced your family members to invest in Bitcoin but have you told your family that investing involves risk. If you haven't informed them about this, you should discuss it with them and not just Bitcoin investment. I agree if you are willing to invest in Bitcoin, look for money accordingly but you should think before investing and do proper planning and judgment analysis before investing. Many people like you are interested in investing in Bitcoin with the help of their families in the new situation.

It turns out that you have been investing in your bitcoins for months and suddenly the price of bitcoins has dropped, will your family help you continue your bitcoin investment or do you have enough opportunities to invest without their help. Prepare yourself to invest in Bitcoin in such a way that you can continue your investment properly even if there are hundreds of hurdles. Investing in bitcoin requires a lot of patience and long time which will take you to your destination.

Everyone who studies the world of investment must understand that in this world all investments have their own risks. It's just that there are certain levels of risk in each different investment field.

But basically the risks that exist in every investment field can be minimized by developing our knowledge in the field we are going to enter.

Trust me if we invest in property that is said to have low risk. But for us it can be very high risk if we don't understand and study it first before entering it.

For example, if we buy property in a disaster-prone area. Then it's the same as us throwing away our money. Because the price will continue to fall. especially if it is land prone to landslides and so on. Which even the previous owner would have left behind.

But when we understand it properly and study it carefully first. Then we can minimize the risk as small as possible. Because we already know which ones have potential and which ones don't. Which ones are worth entering and which ones are not. Because basically investment is about seeing potential in the future.

So now we apply it in Bitcoin. Indeed, Bitcoin is also an asset that has a high level of volatility because its price fluctuates. And yes, this makes many people say that Bitcoin has a fairly high level of risk. But actually, some things are true and some are not.
Because it depends on how deep one's insight into bitcoin itself. If someone can enter Bitcoin investment at the right time after going through a lot of analysis and he has seen the potential in the future. So he can minimize the risk of loss because he entered at the right time. that is, when there is a decline. And then he plans to get out when the bull market comes.

But for beginners who don't study it in more depth. So they tend to enter without taking into account or without careful investment planning due to limited knowledge. This can make the beginner considered investing with high risk. Because he has entered in a field that he is not good at. So the conclusion is high risk is for those who enter in fields that they do not study. And the risk is low for those who enter a field they have mastered.

[Frankolala]

I discussed the final investment decision directly with my family. People in my family don't know about Bitcoin but when I told them about Bitcoin and explained it to them for a while they got some idea about Bitcoin. I explained them about Bitcoin in such a way that they supported my investment. It's not like I misled my family into investing, I gave my family a real picture of Bitcoin investing which they really liked.  
My family members have assured me that I am planning my future where other children take money from their parents and buy drugs and other bad things with that money. They were happy with my plan and said that they would help me financially or otherwise in terms of investment.  

It is good that you have convinced your family members to invest in Bitcoin but have you told your family that investing involves risk. If you haven't informed them about this, you should discuss it with them and not just Bitcoin investment. I agree if you are willing to invest in Bitcoin, look for money accordingly but you should think before investing and do proper planning and judgment analysis before investing. Many people like you are interested in investing in Bitcoin with the help of their families in the new situation.

It turns out that you have been investing in your bitcoins for months and suddenly the price of bitcoins has dropped, will your family help you continue your bitcoin investment or do you have enough opportunities to invest without their help. Prepare yourself to invest in Bitcoin in such a way that you can continue your investment properly even if there are hundreds of hurdles. Investing in bitcoin requires a lot of patience and long time which will take you to your destination.

Everyone who studies the world of investment must understand that in this world all investments have their own risks. It's just that there are certain levels of risk in each different investment field.

But basically the risks that exist in every investment field can be minimized by developing our knowledge in the field we are going to enter.

Trust me if we invest in property that is said to have low risk. But for us it can be very high risk if we don't understand and study it first before entering it.

For example, if we buy property in a disaster-prone area. Then it's the same as us throwing away our money. Because the price will continue to fall. especially if it is land prone to landslides and so on. Which even the previous owner would have left behind.

But when we understand it properly and study it carefully first. Then we can minimize the risk as small as possible. Because we already know which ones have potential and which ones don't. Which ones are worth entering and which ones are not. Because basically investment is about seeing potential in the future.

So now we apply it in Bitcoin. Indeed, Bitcoin is also an asset that has a high level of volatility because its price fluctuates. And yes, this makes many people say that Bitcoin has a fairly high level of risk. But actually, some things are true and some are not.
Because it depends on how deep one's insight into bitcoin itself. If someone can enter Bitcoin investment at the right time after going through a lot of analysis and he has seen the potential in the future. So he can minimize the risk of loss because he entered at the right time. that is, when there is a decline. And then he plans to get out when the bull market comes.

But for beginners who don't study it in more depth. So they tend to enter without taking into account or without careful investment planning due to limited knowledge. This can make the beginner considered investing with high risk. Because he has entered in a field that he is not good at. So the conclusion is high risk is for those who enter in fields that they do not study. And the risk is low for those who enter a field they have mastered.

Bitcoin investment is not like you think and you don't need to deep knowledge on bitcoin before you can invest and not run at loss. This is because, a new investor who just want to start his bitcoin investment journey is on a long term and when you are investing on a long-term, maybe 4-10yrs, you don't need any deep knowledge, but only the basic knowledge of bitcoin which is how to buy and send to your self custody wallet, precis a cold storage, since you are only accumulating and not selling.

There is no best time to buy for a new beginner in his long term bitcoin accumulation goal because he just started and needs to keep on accumulating bitcoin to his portfolio regularly using DCA method  so that he can reach his bitcoin target overtime. This is why the DCA method is best recommended for beginners because it gives them the opportunity to buy bitcoin always irrespective of bitcoin price. What a new beginner needs to figure out is how much of his discretionary income that he can use to buy bitcoin that he can be consistent with, so that he can continue buying with such amount regularly without stopping, and at the same time build his emergency funds from the other part of his discretionary income because it is very necessary, to become a successful long-term bitcoin hodler. A new beginner can start investing into bitcoin and learn about bitcoin at the same time, because in bitcoin accumulation experience is the best teacher than mere theory. Also the time that he will delay in learning cannot be recovered, that is why those that are just starting should not waste any time but start right away as long as they have the money.

It is impossible to learn everything about bitcoin in just one year so learn is a gradual process, and there is no need to have majority of the knowledge, because as time passes by the price of bitcoin will not remain the same.

[Miles2006]

Diversifying one's investments is indeed an amazing strategy but just as you've rightly stated, filling one's bag with shitcoins isn't the best way to diversify, whoever tells you it is, is simply lying to you or is naive.
There are real life assets that also have long-term potentials just like bitcoin and you can consider those other options to diversify. Gold is an amazing option, it's been in the market, even long before bitcoin came into existence, and you can also consider it for its long-term potentials too just like bitcoin.
In China today, Silver is also a hot cake and quite a viable option for investment diversification.

There are so many of them to be considered.

Fuck gold and silver and the idea diversifying.

Figure out your bitcoin plan first, and then maybe if you have accumulated a decent amount of bitcoin, then maybe at some point it might become justifiable to diversify, but talking about diversification into gold and/or silver makes it sound like you are pumping inferior products and trying to compare them to bitcoin when bitcoin is likely in the ballpark of 1000x better then each of them...so no need to discuss any particulars of them or to pump them, especially here in this thread when we are talking about bitcoin.

I think you must've misunderstood my point...
I'm not trying to say diversifying from Bitcoin to other assets like gold and silver is an option, let alone being a better option.

No!

No!!

Noooo!!!

All I'm trying to say is that, for those who have indeed accumulated a good number of Bitcoin and are considering diversification, rather than filling their bags with variety of shitcoins which are totally unsafe and highly risky, it would be a lot more preferable and justifiable to even consider investing on real life assets that guarantees the safety of one's finance, and have a good track record or longevity and long-term potentials, but that doesn't mean gold's potential could be compared to Bitcoin, because bitcoin has undoubtedly proven to be the most profitable and safest asset to invest in.

I feel the reason why JJG reacted so is that you are too early in bitcoin accumulation to start thinking of diversifying into silver or Gold. Not actually that those listed diversification are so bad, but talking about diversification when you have not even accumulated much as expected and you are taking of diversification, it is a kind of situation that surely put you in confusion or even considering diversifying into things which should have be a second option rather bringing them up at an initial stage. What you should have been thinking right now is to accumulate more of bitcoin than talking about diversification. Though it is a reply to someone which you where advising, but sometimes advice we gave surely mean another thing in anticipation. What we advise is what we feel or what we are about to do so something it better we don't even have that though if not it will mislead us.

About diversification, I wasn't considering diversifying my investment, at least not just yet. I know better than to start thinking about diversification at this stage of my Bitcoin accumulation.

I was merely trying to make a point, which is that for people who have accumulated a good number of Bitcoins and are considering diversification, it'll be a lot more safer to consider investing in assets like Gold and Silver rather shitcoins.

Even though you have completed accumulating the quantity of bitcoin you want to accumulate and you decide to diversify your investment, it shouldn't be on assets like gold or silver because it will take you time before you will be in profit from a gold or silver investment. You should diversify your investment in investments that can yield a profit early so that it will help you earn money that will give you extra hands in holding your bitcoin investment for the long term, such as selling commodities.

Diversification is not something any investor should jump into so quickly seeing how most investment can’t yield profit secondly I don’t think it’s right giving any advice concerning Diversification on this thread as it’s talking about accumulating bitcoin. The real fact is basically about the asset at first but I believe before choosing any investment choice an investor must have gotten a balance portfolio in order for their investment to stand strongly, I don’t expect any newly investor to go for  Diversification when there’s a long way to go with their accumulation. What most people don’t understand is the investment choice and their accumulation stage should be considered first before anyone should diversify. Concerning a long term or short term investment choice our choice should be personally as long as we’re making a right choice because we can’t go fully into bitcoin or any investor can still decide to invest only holding bitcoin but depends, and it must not be compulsory we choose something similar as a long term investment, just know the perfect investment choice when it comes to Diversification.

[Tungbulu]

Diversifying one's investments is indeed an amazing strategy but just as you've rightly stated, filling one's bag with shitcoins isn't the best way to diversify, whoever tells you it is, is simply lying to you or is naive.
There are real life assets that also have long-term potentials just like bitcoin and you can consider those other options to diversify. Gold is an amazing option, it's been in the market, even long before bitcoin came into existence, and you can also consider it for its long-term potentials too just like bitcoin.
In China today, Silver is also a hot cake and quite a viable option for investment diversification.

There are so many of them to be considered.

Fuck gold and silver and the idea diversifying.

Figure out your bitcoin plan first, and then maybe if you have accumulated a decent amount of bitcoin, then maybe at some point it might become justifiable to diversify, but talking about diversification into gold and/or silver makes it sound like you are pumping inferior products and trying to compare them to bitcoin when bitcoin is likely in the ballpark of 1000x better then each of them...so no need to discuss any particulars of them or to pump them, especially here in this thread when we are talking about bitcoin.

I think you must've misunderstood my point...
I'm not trying to say diversifying from Bitcoin to other assets like gold and silver is an option, let alone being a better option.

No!

No!!

Noooo!!!

All I'm trying to say is that, for those who have indeed accumulated a good number of Bitcoin and are considering diversification, rather than filling their bags with variety of shitcoins which are totally unsafe and highly risky, it would be a lot more preferable and justifiable to even consider investing on real life assets that guarantees the safety of one's finance, and have a good track record or longevity and long-term potentials, but that doesn't mean gold's potential could be compared to Bitcoin, because bitcoin has undoubtedly proven to be the most profitable and safest asset to invest in.

I feel the reason why JJG reacted so is that you are too early in bitcoin accumulation to start thinking of diversifying into silver or Gold. Not actually that those listed diversification are so bad, but talking about diversification when you have not even accumulated much as expected and you are taking of diversification, it is a kind of situation that surely put you in confusion or even considering diversifying into things which should have be a second option rather bringing them up at an initial stage. What you should have been thinking right now is to accumulate more of bitcoin than talking about diversification. Though it is a reply to someone which you where advising, but sometimes advice we gave surely mean another thing in anticipation. What we advise is what we feel or what we are about to do so something it better we don't even have that though if not it will mislead us.

About diversification, I wasn't considering diversifying my investment, at least not just yet. I know better than to start thinking about diversification at this stage of my Bitcoin accumulation.

I was merely trying to make a point, which is that for people who have accumulated a good number of Bitcoins and are considering diversification, it'll be a lot more safer to consider investing in assets like Gold and Silver rather shitcoins.

Even though you have completed accumulating the quantity of bitcoin you want to accumulate and you decide to diversify your investment, it shouldn't be on assets like gold or silver because it will take you time before you will be in profit from a gold or silver investment. You should diversify your investment in investments that can yield a profit early so that it will help you earn money that will give you extra hands in holding your bitcoin investment for the long term, such as selling commodities.

The most important aspect of investment is the safety and assurance of profit overtime, how long it takes shouldn't be the problem, even Bitcoin takes even longer to give cool profits, but what makes Bitcoin investment exceptionally cool is the assurance and potential for profitability in the long run, so whether gold investment takes longer or shorter time before you get profit really doesn't matter as long as your profit is guaranteed and your wealth is free from inflation.
So the fact that gold and silver offers your asset safety just like land and other real estate properties makes it a viable option for diversification, or wouldn't you agree with me?

As long as you keep trying to prove that diversifying our investment in gold or silver is good, I disagree with you. Yes, bitcoin is a long-term investment. Before we can make a good profit from our bitcoin investment, we have to hold it for a long time, such as 5 years. But you fail to understand that since we have accumulated the quantity of bitcoin we intend to accumulate, it is not good for us to diversify our investments into another long-term investment, which should take the same number of years as bitcoin to give us a return. We should diversify our investments in something different from bitcoin so that we can use the money from the investment to solve our living expenses, and it will make us not to depend on our investment to survive or sell it in a hurry to solve unexpected problems.

Would you rather prefer diversifying to shitcoins that promises a short-term profit simply because you're satisfied with your bitcoin accumulation.
Before going into an investment, you must first have an investment goal and if your goals are long-term, it shouldn't be a problem, having two investments and having a long-term goal for both of 'em shouldn't be considered a bad thing. Besides patience they say, is virtue.

I understand the reason why you think or believe another long-term investment would be a bad choice when considering diversification options, because you're probably thinking that the other investment needs to be for the short-term so you can be able to get quick profits from there to sort out other stuffs in order to avoid touching your Bitcoin investment, But you should also remember that before you've accumulated enough bitcoin to the point that you now consider diversification, you must have already made availability for,

1. An emergency fund/float and reserve funds and
2. Other sources of income

And these would cover emergencies and other short-term expenses so when diversifying, you're not after making profits to sort out immediate needs because you must've already taken care of all that,it rather you're looking for an extra way to save your funds for the long-term and make more profits in the long run.

[ginsan]

Would you rather prefer diversifying to shitcoins that promises a short-term profit simply because you're satisfied with your bitcoin accumulation.
Before going into an investment, you must first have an investment goal and if your goals are long-term, it shouldn't be a problem, having two investments and having a long-term goal for both of 'em shouldn't be considered a bad thing. Besides patience they say, is virtue.

I understand the reason why you think or believe another long-term investment would be a bad choice when considering diversification options, because you're probably thinking that the other investment needs to be for the short-term so you can be able to get quick profits from there to sort out other stuffs in order to avoid touching your Bitcoin investment, But you should also remember that before you've accumulated enough bitcoin to the point that you now consider diversification, you must have already made availability for,

1. An emergency fund/float and reserve funds and
2. Other sources of income

And these would cover emergencies and other short-term expenses so when diversifying, you're not after making profits to sort out immediate needs because you must've already taken care of all that,it rather you're looking for an extra way to save your funds for the long-term and make more profits in the long run.

We should not discuss diversification in this thread because diversification is a discussion that is out of the main discussion that should be discussed in this thread. I don't understand why it is difficult for them to reverse the facts because here we only focus on bitcoin and not shitcoins. It would be better to forget about shitcoins and just focus on bitcoin, which is one of our goals for investing.

The input that must be considered should not be that the discussion goes off topic, so that this will continue if someone continues it. For this reason, stop providing input about diversification in investment. So in this case we only choose bitcoin as one of the coins in our portfolio.

So whatever your goal is, of course it's your decision, but I just remind you to use your money as best as possible and one of the best options is to buy bitcoin and as the OP said buy in the dips and hold on.

[Tungbulu]

Would you rather prefer diversifying to shitcoins that promises a short-term profit simply because you're satisfied with your bitcoin accumulation.
Before going into an investment, you must first have an investment goal and if your goals are long-term, it shouldn't be a problem, having two investments and having a long-term goal for both of 'em shouldn't be considered a bad thing. Besides patience they say, is virtue.

I understand the reason why you think or believe another long-term investment would be a bad choice when considering diversification options, because you're probably thinking that the other investment needs to be for the short-term so you can be able to get quick profits from there to sort out other stuffs in order to avoid touching your Bitcoin investment, But you should also remember that before you've accumulated enough bitcoin to the point that you now consider diversification, you must have already made availability for,

1. An emergency fund/float and reserve funds and
2. Other sources of income

And these would cover emergencies and other short-term expenses so when diversifying, you're not after making profits to sort out immediate needs because you must've already taken care of all that,it rather you're looking for an extra way to save your funds for the long-term and make more profits in the long run.

We should not discuss diversification in this thread because diversification is a discussion that is out of the main discussion that should be discussed in this thread. I don't understand why it is difficult for them to reverse the facts because here we only focus on bitcoin and not shitcoins. It would be better to forget about shitcoins and just focus on bitcoin, which is one of our goals for investing.

The input that must be considered should not be that the discussion goes off topic, so that this will continue if someone continues it. For this reason, stop providing input about diversification in investment. So in this case we only choose bitcoin as one of the coins in our portfolio.

So whatever your goal is, of course it's your decision, but I just remind you to use your money as best as possible and one of the best options is to buy bitcoin and as the OP said buy in the dips and hold on.

I do understand your point vividly.
But sometimes I think it's important to mention stuffs like this for people to learn, because these are the most common mistakes people make with their investments, it's important for investors, especially those that are relatively young and new in the crypto space to know exactly when and how diversification works, to avoid making terrible mistakes that'll affect their bitcoin accumulation and portfolio, but seeing this discussion on this tgread may equally serve as a guide to them to learn how diversification should work.

Because most people would think that it's okay to diversify when you're still accumulating Bitcoin, and by doing so, they end up making mistakes that'll affect their bitcoin accumulation process, but by seeing this discussion, it could serve as an avenue of learning because they'll be able to see that, before they can even think of diversification or try to consider it as an option, they should first have a very solid Bitcoin Stash and portfolio.

[Renampun]

Unfortunately, at this time we no longer have the opportunity to buy Bitcoin at a cheap price, currently the price of Bitcoin has risen too high. But we can still buy Bitcoin, it doesn't have to be one Bitcoin. At a minimum we can buy Bitcoin with an amount of $100.

Now we can see that the price of Bitcoin is in a very good position and the current state of Bitcoin price is near the peak price of Bitcoin. The price of Bitcoin was at its peak when it was regularly dropping between $15k to $20k and many people discussed at that time that buying Bitcoin during this peak price would not be the right decision for them. Today you see the value of Bitcoin has almost doubled from there. Now if Bitcoin goes up another factor or two from the position we think is the highest point in the price of Bitcoin, we will regret it because we missed the opportunity that we had. If we are thinking of investing in long term plan then we can invest during any price of the market and invest and hold it in long term plan. There are many investors who regularly invest in Bitcoins by investing during the lowest price and investing during the highest price thereby increasing their chances of profit.

bitcoin has reached ATH just a few weeks ago and it is very likely that the price of bitcoin will fall to its lowest level in the last few months (the time cannot be confirmed when), therefore buying bitcoin with the DCA method and buying bitcoin consistently when a bear occurs is a strategy which is good, many people regret that they didn't buy bitcoin when the price was only around $20k, bitcoin will continue to fluctuate and that has become the nature of bitcoin.

[Smilevictorobinna]

I discussed the final investment decision directly with my family. People in my family don't know about Bitcoin but when I told them about Bitcoin and explained it to them for a while they got some idea about Bitcoin. I explained them about Bitcoin in such a way that they supported my investment. It's not like I misled my family into investing, I gave my family a real picture of Bitcoin investing which they really liked.  
My family members have assured me that I am planning my future where other children take money from their parents and buy drugs and other bad things with that money. They were happy with my plan and said that they would help me financially or otherwise in terms of investment.  

It is good that you have convinced your family members to invest in Bitcoin but have you told your family that investing involves risk. If you haven't informed them about this, you should discuss it with them and not just Bitcoin investment. I agree if you are willing to invest in Bitcoin, look for money accordingly but you should think before investing and do proper planning and judgment analysis before investing. Many people like you are interested in investing in Bitcoin with the help of their families in the new situation.

It turns out that you have been investing in your bitcoins for months and suddenly the price of bitcoins has dropped, will your family help you continue your bitcoin investment or do you have enough opportunities to invest without their help. Prepare yourself to invest in Bitcoin in such a way that you can continue your investment properly even if there are hundreds of hurdles. Investing in bitcoin requires a lot of patience and long time which will take you to your destination.

Everyone who studies the world of investment must understand that in this world all investments have their own risks. It's just that there are certain levels of risk in each different investment field.

But basically the risks that exist in every investment field can be minimized by developing our knowledge in the field we are going to enter.

Trust me if we invest in property that is said to have low risk. But for us it can be very high risk if we don't understand and study it first before entering it.

For example, if we buy property in a disaster-prone area. Then it's the same as us throwing away our money. Because the price will continue to fall. especially if it is land prone to landslides and so on. Which even the previous owner would have left behind.

But when we understand it properly and study it carefully first. Then we can minimize the risk as small as possible. Because we already know which ones have potential and which ones don't. Which ones are worth entering and which ones are not. Because basically investment is about seeing potential in the future.

So now we apply it in Bitcoin. Indeed, Bitcoin is also an asset that has a high level of volatility because its price fluctuates. And yes, this makes many people say that Bitcoin has a fairly high level of risk. But actually, some things are true and some are not.
Because it depends on how deep one's insight into bitcoin itself. If someone can enter Bitcoin investment at the right time after going through a lot of analysis and he has seen the potential in the future. So he can minimize the risk of loss because he entered at the right time. that is, when there is a decline. And then he plans to get out when the bull market comes.

But for beginners who don't study it in more depth. So they tend to enter without taking into account or without careful investment planning due to limited knowledge. This can make the beginner considered investing with high risk. Because he has entered in a field that he is not good at. So the conclusion is high risk is for those who enter in fields that they do not study. And the risk is low for those who enter a field they have mastered.

Bitcoin investment is not like you think and you don't need to deep knowledge on bitcoin before you can invest and not run at loss. This is because, a new investor who just want to start his bitcoin investment journey is on a long term and when you are investing on a long-term, maybe 4-10yrs, you don't need any deep knowledge, but only the basic knowledge of bitcoin which is how to buy and send to your self custody wallet, precis a cold storage, since you are only accumulating and not selling.

There is no best time to buy for a new beginner in his long term bitcoin accumulation goal because he just started and needs to keep on accumulating bitcoin to his portfolio regularly using DCA method  so that he can reach his bitcoin target overtime. This is why the DCA method is best recommended for beginners because it gives them the opportunity to buy bitcoin always irrespective of bitcoin price. What a new beginner needs to figure out is how much of his discretionary income that he can use to buy bitcoin that he can be consistent with, so that he can continue buying with such amount regularly without stopping, and at the same time build his emergency funds from the other part of his discretionary income because it is very necessary, to become a successful long-term bitcoin hodler. A new beginner can start investing into bitcoin and learn about bitcoin at the same time, because in bitcoin accumulation experience is the best teacher than mere theory. Also the time that he will delay in learning cannot be recovered, that is why those that are just starting should not waste any time but start right away as long as they have the money.

It is impossible to learn everything about bitcoin in just one year so learn is a gradual process, and there is no need to have majority of the knowledge, because as time passes by the price of bitcoin will not remain the same.

It is wrong for someone who has no knowledge about bitcoin to buy bitcoin and looking for advice from people for help. I think people who invest this way without having any knowledge are just desperate to get rich from bitcoin. It looks so unreasonable for someone to decide to invest on something that is unknown and without any understanding, that means the person just only care about profit  and not about bitcoin. Someone who is really Interested to invest in bitcoin will go after knowledge first before proceeding of buying Bitcoin to  invest.

Without knowledge buying Bitcoin is a waste because it will look so complicated to the person when their is fall in the market. Knowledge about bitcoin is not just about investing but how to use the right wallet and also helps to give good Understanding in securing the seed phrase.  No matter the amount used in buying Bitcoin, no bitcoin if their is no knowledge on how  to invest because their can't be magic to end up with a positive result by the end of the investment.

[teamsherry]

Diversifying one's investments is indeed an amazing strategy but just as you've rightly stated, filling one's bag with shitcoins isn't the best way to diversify, whoever tells you it is, is simply lying to you or is naive.
There are real life assets that also have long-term potentials just like bitcoin and you can consider those other options to diversify. Gold is an amazing option, it's been in the market, even long before bitcoin came into existence, and you can also consider it for its long-term potentials too just like bitcoin.
In China today, Silver is also a hot cake and quite a viable option for investment diversification.

There are so many of them to be considered.

Fuck gold and silver and the idea diversifying.

Figure out your bitcoin plan first, and then maybe if you have accumulated a decent amount of bitcoin, then maybe at some point it might become justifiable to diversify, but talking about diversification into gold and/or silver makes it sound like you are pumping inferior products and trying to compare them to bitcoin when bitcoin is likely in the ballpark of 1000x better then each of them...so no need to discuss any particulars of them or to pump them, especially here in this thread when we are talking about bitcoin.

I think you must've misunderstood my point...
I'm not trying to say diversifying from Bitcoin to other assets like gold and silver is an option, let alone being a better option.

No!

No!!

Noooo!!!

All I'm trying to say is that, for those who have indeed accumulated a good number of Bitcoin and are considering diversification, rather than filling their bags with variety of shitcoins which are totally unsafe and highly risky, it would be a lot more preferable and justifiable to even consider investing on real life assets that guarantees the safety of one's finance, and have a good track record or longevity and long-term potentials, but that doesn't mean gold's potential could be compared to Bitcoin, because bitcoin has undoubtedly proven to be the most profitable and safest asset to invest in.

The probem here isn't that gold or silver isnt a good asset and if its about track record gold has been a very good option for a very long time even longer than bitcoin, but where you are getting it wrong is thinking of diversifying, the question you should ask yourself is can I afford to build a good stash in both asset, then if not you should focus one building up your stash in bitcoin and when it's has gotten to at least a year of your living expense then you can consider diversification.

The problem with early diversification is that you would end up having little of so many asset neglecting the law of concentration which means you gain wealth from building one asset and maintain it from diversifying, so diversification is not a good option for someone trying to build wealth.

[Gallar]

Unfortunately, at this time we no longer have the opportunity to buy Bitcoin at a cheap price, currently the price of Bitcoin has risen too high. But we can still buy Bitcoin, it doesn't have to be one Bitcoin. At a minimum we can buy Bitcoin with an amount of $100.

Now we can see that the price of Bitcoin is in a very good position and the current state of Bitcoin price is near the peak price of Bitcoin. The price of Bitcoin was at its peak when it was regularly dropping between $15k to $20k and many people discussed at that time that buying Bitcoin during this peak price would not be the right decision for them. Today you see the value of Bitcoin has almost doubled from there. Now if Bitcoin goes up another factor or two from the position we think is the highest point in the price of Bitcoin, we will regret it because we missed the opportunity that we had. If we are thinking of investing in long term plan then we can invest during any price of the market and invest and hold it in long term plan. There are many investors who regularly invest in Bitcoins by investing during the lowest price and investing during the highest price thereby increasing their chances of profit.

Yes, for medium and short term investors, buying bitcoin at the current high price still has the opportunity to make a profit. Because we don't know what the highest price Bitcoin will reach at this time. So instead of thinking it's too late to buy bitcoin now, it's better to just start buying it. Because it could be that in the bull market this year or next year Bitcoin will reach a price of $90K-$100K. This will of course be very profitable if, for example, we buy bitcoin at the current price.

Moreover, for long-term investors, as we know, it doesn't matter what the current price of Bitcoin is. Because the most important thing is that we accumulate money into bitcoin, namely by using the DCA technique. In my opinion, it is easier and better to make long-term investments in Bitcoin. Because we don't need to be confused or afraid to buy bitcoin at any price. However, everyone definitely has different desires and perspectives regarding investment decisions. So I personally just emphasize never feel like it's too late to buy bitcoin.

Because if you think deeper, if for example we buy bitcoin at a very high price, then after that the price will fall. We didn't need to worry because four years later we were definitely still making a profit. Because as we know, the price of bitcoin every four-year cycle (Halving) always experiences a higher price increase compared to the previous 4 years.

[Uhwuchukwu53]

Unfortunately, at this time we no longer have the opportunity to buy Bitcoin at a cheap price, currently the price of Bitcoin has risen too high. But we can still buy Bitcoin, it doesn't have to be one Bitcoin. At a minimum we can buy Bitcoin with an amount of $100.

Now we can see that the price of Bitcoin is in a very good position and the current state of Bitcoin price is near the peak price of Bitcoin. The price of Bitcoin was at its peak when it was regularly dropping between $15k to $20k and many people discussed at that time that buying Bitcoin during this peak price would not be the right decision for them. Today you see the value of Bitcoin has almost doubled from there. Now if Bitcoin goes up another factor or two from the position we think is the highest point in the price of Bitcoin, we will regret it because we missed the opportunity that we had. If we are thinking of investing in long term plan then we can invest during any price of the market and invest and hold it in long term plan. There are many investors who regularly invest in Bitcoins by investing during the lowest price and investing during the highest price thereby increasing their chances of profit.

Yes, for medium and short term investors, buying bitcoin at the current high price still has the opportunity to make a profit. Because we don't know what the highest price Bitcoin will reach at this time. So instead of thinking it's too late to buy bitcoin now, it's better to just start buying it. Because it could be that in the bull market this year or next year Bitcoin will reach a price of $90K-$100K. This will of course be very profitable if, for example, we buy bitcoin at the current price.

Moreover, for long-term investors, as we know, it doesn't matter what the current price of Bitcoin is. Because the most important thing is that we accumulate money into bitcoin, namely by using the DCA technique. In my opinion, it is easier and better to make long-term investments in Bitcoin. Because we don't need to be confused or afraid to buy bitcoin at any price. However, everyone definitely has different desires and perspectives regarding investment decisions. So I personally just emphasize never feel like it's too late to buy bitcoin.

Because if you think deeper, if for example we buy bitcoin at a very high price, then after that the price will fall. We didn't need to worry because four years later we were definitely still making a profit. Because as we know, the price of bitcoin every four-year cycle (Halving) always experiences a higher price increase compared to the previous 4 years.

I hardly dispute this as facts surrounded it, but many still see there is need to wait if there may be a dip to buy because buy when the price is high may no give them what they are speculated to afford when there is a step down in price it's good to advice investor but I believe every good investor has a target on how to enter the market and make something out if it mostly when it has to buying Bitcoin for holding, this occurred in our local market as the laws of demand and supply can't be overruled in the life of a good investor when it comes to buying a particular products the target is usually where to get more and there is no other means than when price step down, I realized that before now there is an ATH if $73k before fall to $60k though this is actually a serious Dip but I will assure you in the life of good investor the little drop has allot to add to him, the reason people bargain in our local market is to get profit so it's to investor who wait for little drop before buying that my view .

[MarjorieZimmermanGinger]

Figure out your bitcoin plan first, and then maybe if you have accumulated a decent amount of bitcoin, then maybe at some point it might become justifiable to diversify, but talking about diversification into gold and/or silver makes it sound like you are pumping inferior products and trying to compare them to bitcoin when bitcoin is likely in the ballpark of 1000x better then each of them...so no need to discuss any particulars of them or to pump them, especially here in this thread when we are talking about bitcoin.

About the idea of diversifying into several forms of investment and it's not much better than trying to make a percentage purchase of bitcoin. In the past, I was one of the people who bought gold to save and the price movement was not much better even though I had kept it for more than five years. Finally I decided to buy bitcoin as an investment asset that I held and the comparison in the same five years was much more favorable to bitcoin. Regarding the risk that is often talked about and I think it really depends on our mental readiness, if bitcoin is bought and held then it should not be part of short-term trading so we will not experience any risk.

The bitcoin cycle will continue to repeat itself and if we don't panic when holding then that's where we will get big profits from the process that will occur towards the next ATH. Gold does not offer such a concept and it is much more stable in making small profits and I have experienced this in the last 10 years.

[red4slash]

It is wrong for someone who has no knowledge about bitcoin to buy bitcoin and looking for advice from people for help. I think people who invest this way without having any knowledge are just desperate to get rich from bitcoin. It looks so unreasonable for someone to decide to invest on something that is unknown and without any understanding, that means the person just only care about profit  and not about bitcoin. Someone who is really Interested to invest in bitcoin will go after knowledge first before proceeding of buying Bitcoin to  invest.

Without knowledge buying Bitcoin is a waste because it will look so complicated to the person when their is fall in the market. Knowledge about bitcoin is not just about investing but how to use the right wallet and also helps to give good Understanding in securing the seed phrase.  No matter the amount used in buying Bitcoin, no bitcoin if their is no knowledge on how  to invest because their can't be magic to end up with a positive result by the end of the investment.

I don't think we can judge that this is a mistake even though the initial method was not correct, but we don't have to consider this a mistake. Seeing from what always happens now, many people always buy first and then immediately invest in bitcoin because they already have it, so they don't want to make a wrong move in ownership. Even though things like this are not good, believe it or not, this is a common thing nowadays.
The ideal is that we have to learn first before actually buying, but for now we always feel that sometimes learning can be done while we are making purchases, so there are fewer people learning about bitcoin and then buying than buying bitcoin and then learning while we continue to collect bitcoin. .

It's true that things like this are actually risky and it's not good to normalize them too much, but in this case we also can't judge that it's a mistake because many people actually have different methods and schemes when it comes to bitcoin.

[Zackz5000]

I discussed the final investment decision directly with my family. People in my family don't know about Bitcoin but when I told them about Bitcoin and explained it to them for a while they got some idea about Bitcoin. I explained them about Bitcoin in such a way that they supported my investment. It's not like I misled my family into investing, I gave my family a real picture of Bitcoin investing which they really liked.  
My family members have assured me that I am planning my future where other children take money from their parents and buy drugs and other bad things with that money. They were happy with my plan and said that they would help me financially or otherwise in terms of investment.  

It is good that you have convinced your family members to invest in Bitcoin but have you told your family that investing involves risk. If you haven't informed them about this, you should discuss it with them and not just Bitcoin investment. I agree if you are willing to invest in Bitcoin, look for money accordingly but you should think before investing and do proper planning and judgment analysis before investing. Many people like you are interested in investing in Bitcoin with the help of their families in the new situation.

It turns out that you have been investing in your bitcoins for months and suddenly the price of bitcoins has dropped, will your family help you continue your bitcoin investment or do you have enough opportunities to invest without their help. Prepare yourself to invest in Bitcoin in such a way that you can continue your investment properly even if there are hundreds of hurdles. Investing in bitcoin requires a lot of patience and long time which will take you to your destination.

Everyone who studies the world of investment must understand that in this world all investments have their own risks. It's just that there are certain levels of risk in each different investment field.

But basically the risks that exist in every investment field can be minimized by developing our knowledge in the field we are going to enter.

Trust me if we invest in property that is said to have low risk. But for us it can be very high risk if we don't understand and study it first before entering it.

For example, if we buy property in a disaster-prone area. Then it's the same as us throwing away our money. Because the price will continue to fall. especially if it is land prone to landslides and so on. Which even the previous owner would have left behind.

But when we understand it properly and study it carefully first. Then we can minimize the risk as small as possible. Because we already know which ones have potential and which ones don't. Which ones are worth entering and which ones are not. Because basically investment is about seeing potential in the future.

So now we apply it in Bitcoin. Indeed, Bitcoin is also an asset that has a high level of volatility because its price fluctuates. And yes, this makes many people say that Bitcoin has a fairly high level of risk. But actually, some things are true and some are not.
Because it depends on how deep one's insight into bitcoin itself. If someone can enter Bitcoin investment at the right time after going through a lot of analysis and he has seen the potential in the future. So he can minimize the risk of loss because he entered at the right time. that is, when there is a decline. And then he plans to get out when the bull market comes.

But for beginners who don't study it in more depth. So they tend to enter without taking into account or without careful investment planning due to limited knowledge. This can make the beginner considered investing with high risk. Because he has entered in a field that he is not good at. So the conclusion is high risk is for those who enter in fields that they do not study. And the risk is low for those who enter a field they have mastered.

Bitcoin investment is not like you think and you don't need to deep knowledge on bitcoin before you can invest and not run at loss. This is because, a new investor who just want to start his bitcoin investment journey is on a long term and when you are investing on a long-term, maybe 4-10yrs, you don't need any deep knowledge, but only the basic knowledge of bitcoin which is how to buy and send to your self custody wallet, precis a cold storage, since you are only accumulating and not selling.

There is no best time to buy for a new beginner in his long term bitcoin accumulation goal because he just started and needs to keep on accumulating bitcoin to his portfolio regularly using DCA method  so that he can reach his bitcoin target overtime. This is why the DCA method is best recommended for beginners because it gives them the opportunity to buy bitcoin always irrespective of bitcoin price. What a new beginner needs to figure out is how much of his discretionary income that he can use to buy bitcoin that he can be consistent with, so that he can continue buying with such amount regularly without stopping, and at the same time build his emergency funds from the other part of his discretionary income because it is very necessary, to become a successful long-term bitcoin hodler. A new beginner can start investing into bitcoin and learn about bitcoin at the same time, because in bitcoin accumulation experience is the best teacher than mere theory. Also the time that he will delay in learning cannot be recovered, that is why those that are just starting should not waste any time but start right away as long as they have the money.

It is impossible to learn everything about bitcoin in just one year so learn is a gradual process, and there is no need to have majority of the knowledge, because as time passes by the price of bitcoin will not remain the same.

It is wrong for someone who has no knowledge about bitcoin to buy bitcoin and looking for advice from people for help. I think people who invest this way without having any knowledge are just desperate to get rich from bitcoin. It looks so unreasonable for someone to decide to invest on something that is unknown and without any understanding, that means the person just only care about profit  and not about bitcoin. Someone who is really Interested to invest in bitcoin will go after knowledge first before proceeding of buying Bitcoin to  invest.

Without knowledge buying Bitcoin is a waste because it will look so complicated to the person when their is fall in the market. Knowledge about bitcoin is not just about investing but how to use the right wallet and also helps to give good Understanding in securing the seed phrase.  No matter the amount used in buying Bitcoin, no bitcoin if their is no knowledge on how  to invest because their can't be magic to end up with a positive result by the end of the investment.

If you understand Frankolala very well he was actually saying that one don't need have deep knowledge about Bitcoin investment before venturing into it but having a basic knowledge about Bitcoin investment is enough to start up your Bitcoin investment journey.
One without deep knowledge about Bitcoin investment can actually go into it as long as such person has a basic knowledge about it then on the process of your Bitcoin investment journey one can learn more about it while you are into it already because the more you wait to have deep knowledge about Bitcoin investment the more time and opportunity is passing you by so for me I don't think it is necessary for one to first gain full knowledge about Bitcoin investment before going into it but having basis knowledge about Bitcoin investment can go a long way reason been that there is no time waiting and learning one can learn when he or she is already into Bitcoin investment.