Ruttoshi
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Baba God Noni
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June 01, 2024, 06:33:30 AM |
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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. Frankolala is right.... Any new beginner to bitcoin only need to know the basic knowledge of bitcoin which is how to buy bitcoin from exchange and the best wallet to use and how to transfer bitcoin to his wallet. It is good to start investing and don't need anyone to advice him on his bitcoin journey before he buys. This is because he is investing and hodli for 4-10 years and above. During that period, those years are big enough for the new bitcoin investor to learn whatever he needs and that is why you are at advantage to invest as you learn because practical and theory goes hand in hand. Theory will not teach you how to save money in the bank, you practice it. Theory will not teach you how to use the exact discretionary income to buy bitcoin regularly using DCA and how to control your emotions on bitcoin price fluctuations. It is traders or short-term hodlers that will run at loss if they enter the market with the basic knowledge of bitcoin. Buying and storing in cold storage wallet only overtime will not make you run at loss because as time passes on, bitcoin price increases in value and it is likely to continue like that. So if you are waiting to get all the knowledge of bitcoin before you want to start investing, you will end up buying bitcoin expensive than this price and also accumulating little quantity of bitcoin compare to if you were investing and learning. Time waste for no man, and we keep in getting older everyday. About the seed phrase the moment you create your wallet, you would be advised to keep it safe from third party which is still practical. I don't think that I have seen any investor who understands what investment is, and he wakes up one morning and decided he wants to invest in bitcoin without him asking someone or go to the internet to see how he learn about bitcoin and he will only focus on how to buy and store because that it his plan to invest, and after buying he can now have full interest to learn more about bitcoin because he has already invested and needs to keep his investment safe.
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cxtreenal
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June 01, 2024, 07:02:57 AM |
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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. Keeping a portion of disposable income through DCA strategy in the early stages of Bitcoin accumulation and doing so consistently can diversify your portfolio. Initially only continuous deposit is recommended and its duration is 4-10 years. If you are aggressive in collecting, it may seem at first that you will achieve your desired goals, but in reality it may cause the opposite. Your investment success depends not only on accumulating more bitcoins but also on holding them for a long time. The more cash you have, the longer you can grow your stash. Although it takes a little longer for early divergence signs to become visible, your decision to choose one asset over another is riskier. Focusing more on accumulating bitcoins while keeping all your assets where you are. Diversification will continue to increase as you comfortably increase your Bitcoin holdings without any constraints, which is a great option for the future.
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Cryptoprincess101
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June 01, 2024, 07:09:24 AM |
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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. Frankolala is right.... Any new beginner to bitcoin only need to know the basic knowledge of bitcoin which is how to buy bitcoin from exchange and the best wallet to use and how to transfer bitcoin to his wallet. It is good to start investing and don't need anyone to advice him on his bitcoin journey before he buys. This is because he is investing and hodli for 4-10 years and above. During that period, those years are big enough for the new bitcoin investor to learn whatever he needs and that is why you are at advantage to invest as you learn because practical and theory goes hand in hand. Theory will not teach you how to save money in the bank, you practice it. Theory will not teach you how to use the exact discretionary income to buy bitcoin regularly using DCA and how to control your emotions on bitcoin price fluctuations. It is traders or short-term hodlers that will run at loss if they enter the market with the basic knowledge of bitcoin. Buying and storing in cold storage wallet only overtime will not make you run at loss because as time passes on, bitcoin price increases in value and it is likely to continue like that. So if you are waiting to get all the knowledge of bitcoin before you want to start investing, you will end up buying bitcoin expensive than this price and also accumulating little quantity of bitcoin compare to if you were investing and learning. Time waste for no man, and we keep in getting older everyday. About the seed phrase the moment you create your wallet, you would be advised to keep it safe from third party which is still practical. I don't think that I have seen any investor who understands what investment is, and he wakes up one morning and decided he wants to invest in bitcoin without him asking someone or go to the internet to see how he learn about bitcoin and he will only focus on how to buy and store because that it his plan to invest, and after buying he can now have full interest to learn more about bitcoin because he has already invested and needs to keep his investment safe. You make a lot of sense here, it is very bad that people always feels like they need all the basic knowledge before making investments and these are people that maybe don't read news or doesn't have much exposure about the things happening around them because gone are those days when people were so scared of announcing that they are into bitcoin and are making profits from their investments. It is not bad to seek for knowledge while trying to invest in Bitcoin but the wisest decision is to buy and hodl while still seeking to accumulate more wisdom that will guide you all through your investment periods just like you said that being too theoretical without putting those theories in practice doesn't make any sense that is why beginners are advised to buy Bitcoin then sought for more knowledge. Bitcoin is a high volatile asset and if you want a complete conviction before making investments as a beginner you can lose interest because by the time you must have gotten all the knowledge you required by then the price of Bitcoin must have skyrocketed to a point that may be difficult to buy because if you want to buy at that point you won't acquire much and to maintain buying using the DCA will become so complex due to the high price. Every one wants safety for their investments but you can't ask for safety when no investment have been made so it's after you must have made accumulations that you will start asking for how to safeguard your assets because it is just almost the same with saving money in the bank but the clear difference is that with Bitcoin investment your investment can reach it's peak in the long run but saving money in the bank for a long time is just accompanied with little or low interests.
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avp2306
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 01, 2024, 07:52:58 AM |
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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. Frankolala is right.... Any new beginner to bitcoin only need to know the basic knowledge of bitcoin which is how to buy bitcoin from exchange and the best wallet to use and how to transfer bitcoin to his wallet. It is good to start investing and don't need anyone to advice him on his bitcoin journey before he buys. This is because he is investing and hodli for 4-10 years and above. During that period, those years are big enough for the new bitcoin investor to learn whatever he needs and that is why you are at advantage to invest as you learn because practical and theory goes hand in hand. Theory will not teach you how to save money in the bank, you practice it. Theory will not teach you how to use the exact discretionary income to buy bitcoin regularly using DCA and how to control your emotions on bitcoin price fluctuations. It is traders or short-term hodlers that will run at loss if they enter the market with the basic knowledge of bitcoin. Buying and storing in cold storage wallet only overtime will not make you run at loss because as time passes on, bitcoin price increases in value and it is likely to continue like that. So if you are waiting to get all the knowledge of bitcoin before you want to start investing, you will end up buying bitcoin expensive than this price and also accumulating little quantity of bitcoin compare to if you were investing and learning. Time waste for no man, and we keep in getting older everyday. About the seed phrase the moment you create your wallet, you would be advised to keep it safe from third party which is still practical. I don't think that I have seen any investor who understands what investment is, and he wakes up one morning and decided he wants to invest in bitcoin without him asking someone or go to the internet to see how he learn about bitcoin and he will only focus on how to buy and store because that it his plan to invest, and after buying he can now have full interest to learn more about bitcoin because he has already invested and needs to keep his investment safe. You make a lot of sense here, it is very bad that people always feels like they need all the basic knowledge before making investments and these are people that maybe don't read news or doesn't have much exposure about the things happening around them because gone are those days when people were so scared of announcing that they are into bitcoin and are making profits from their investments. It is not bad to seek for knowledge while trying to invest in Bitcoin but the wisest decision is to buy and hodl while still seeking to accumulate more wisdom that will guide you all through your investment periods just like you said that being too theoretical without putting those theories in practice doesn't make any sense that is why beginners are advised to buy Bitcoin then sought for more knowledge. Bitcoin is a high volatile asset and if you want a complete conviction before making investments as a beginner you can lose interest because by the time you must have gotten all the knowledge you required by then the price of Bitcoin must have skyrocketed to a point that may be difficult to buy because if you want to buy at that point you won't acquire much and to maintain buying using the DCA will become so complex due to the high price. Every one wants safety for their investments but you can't ask for safety when no investment have been made so it's after you must have made accumulations that you will start asking for how to safeguard your assets because it is just almost the same with saving money in the bank but the clear difference is that with Bitcoin investment your investment can reach it's peak in the long run but saving money in the bank for a long time is just accompanied with little or low interests. Crazy thoughts that they only need basic knowledge for their bitcoin investment since this could make them missed out something important to consider as an investor. Also provably they cannot create a good plan especially on when they sell since this is important to know that's why we should seek up for more knowledge by considering reading up the news or any factors that can expose us more on other bitcoin activities so that we could learn more. Bitcoin is really a high volatile asset that's why we need to have updated knowledge about it so there would be no fuds scare will happen since there would be a lot of that which challenge our belief and patience so its good for us as an investor to consider all things and try to learn new things that can help us build our confidence more into bitcoins. All of us want a safety investment but we can't find that since if someone offer you safe and 100% you can gain a profit then provably its scam. But in case of our bitcoin investment we can do something and ride up with good ideas also with knowledge shared by a lot of people then for sure that it can help us build certain strategies that can help us on our long term accumulation journey with bitcoin.
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Roseline492
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 01, 2024, 09:02:25 AM |
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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 .
Like already mentioned we cannot dispute the fact that buying at Dip has some certain advantages but don't you think it will actually be of no good on your investment if you focus your goal on buying only when the price is Dip?, perhaps this could be one of the reasons why most people normally miss out there chances of buying Bitcoin while they have the opportunity to and when they later realized themselves of the chances they had missed they engaged themselves on aggressive accumulation so that they will be able to meet up which could also results to another trouble on there investment. However I don't think you should compare this scenario with those normal market individuals because they are only based easy profit making which is buying and selling and in other words is contrary to our investment goal which is a long term holding, so the moment you realized the potential of Bitcoin you will know that depending on dip before accumulating of Bitcoin is not a wise decision.
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Lamkuthang
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June 01, 2024, 10:30:33 AM |
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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.
It's true, building wealth won't come quickly, it takes time and a process to get there. I think whatever type we will invest. However, when something easier and quicker comes along, I think why should I use another option. Yes, BTC really provides an opportunity to go there as an investment tool, whether you want to invest at the same time or use the DCA purchase method as many people are currently implementing.
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June 01, 2024, 10:57:24 AM |
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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.
It's true, building wealth won't come quickly, it takes time and a process to get there. I think whatever type we will invest. However, when something easier and quicker comes along, I think why should I use another option. Yes, BTC really provides an opportunity to go there as an investment tool, whether you want to invest at the same time or use the DCA purchase method as many people are currently implementing. The easiest opportunity to invest is investing in DCA method, if you invest in DCA method you will be successful very quickly. Because the DCA method controls the average price of buying bitcoins, due to which each person can accumulate this investment for a long time and it is present to give the most benefits. The DCA method is a great plan to build a mountain of wealth with little by little. As the saying goes (a small grain of sand is a water drop, a continent rises from the bottom of the ocean) because if you keep accumulating small amounts of money, you can eventually build a mountain of great wealth. That is why DCA method is currently the best method among all investors.
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Tmoonz
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June 01, 2024, 01:13:56 PM Last edit: June 01, 2024, 01:36:28 PM by Tmoonz Merited by JayJuanGee (1) |
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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. There is nothing wrong or risky for an investor investing 100% of his disposable or investing aggressively in to his Bitcoin investment, the idea of investing your disposable income has to do with a presumption that you have taken care of what you might have consider to be a basic needs with a provisional emergency funds inclusive which is very paramount towards your investment. However, before an investor must have been investing any where close to 100% of his disposable he must have been cutting down expenses such as not riding an extensive car, or not living in a more luxurious house, going on vacations so on and so forth for the purpose of increasing his disposable income as well as his reserved and float to enable him become aggressive in his accumulation without over doing it such that it will not affects his living expenses negatively. 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.
It's true, building wealth won't come quickly, it takes time and a process to get there. I think whatever type we will invest. However, when something easier and quicker comes along, I think why should I use another option. Yes, BTC really provides an opportunity to go there as an investment tool, whether you want to invest at the same time or use the DCA purchase method as many people are currently implementing. The easiest opportunity to invest is investing in DCA method, if you invest in DCA method you will be successful very quickly. Because the DCA method controls the average price of buying bitcoins, due to which each person can accumulate this investment for a long time and it is present to give the most benefits. The DCA method is a great plan to build a mountain of wealth with little by little. As the saying goes (a small grain of sand is a water drop, a continent rises from the bottom of the ocean) because if you keep accumulating small amounts of money, you can eventually build a mountain of great wealth. That is why DCA method is currently the best method among all investors.In as much as the dca strategy has numerous benefits there is no reason one should or trying make any form of comparison with other strategy as per which is the best method among all investor, every investor will only make that informed decisions of choice of strategy or strategies to be used in his accumulation process to suits him in terms of his, financial situation, risk tolerance level, investment goals and objectives, which all is aimed at maximizing every opportunities in the market to have a sizeable worth of Bitcoin.
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June 01, 2024, 03:17:58 PM |
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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. What you said about other projects is correct, but when it comes to bitcoin investment, newbies don't need to have a wide knowledge of bitcoin before they can start their investments in bitcoin. Newbies can start their investments in bitcoin with the DCA strategy, and they will not need to time the market to buy bitcoin in a dip. With the DCA strategy, newbies can accumulate bitcoin either weekly or monthly when the money used to be readily available, and it will allow them to accumulate bitcoin even in bearish and bullish times. Newbies should be concerned about their personal finances. This thread is about holding bitcoin for the long term, and there is no need for technical analysis before newbies can start their investments in bitcoin because they are in bitcoin investment for the long term. Investors who see technical analysis as a compulsory skill in bitcoin are those who are in bitcoin for the short-term profit (day traders) so that it will allow them to have a clue of when to buy bitcoin at a low and sell it at a high to enable them to take their short-term profit.
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Frankolala
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June 01, 2024, 03:35:46 PM |
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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. There is nothing wrong or risky for an investor investing 100% of his disposable or investing aggressively in to his Bitcoin investment, the idea of investing your disposable income has to do with a presumption that you have taken care of what you might have consider to be a basic needs with a provisional emergency funds inclusive which is very paramount towards your investment. However, before an investor must have been investing any where close to 100% of his disposable he must have been cutting down expenses such as not riding an extensive car, or not living in a more luxurious house, going on vacations so on and so forth for the purpose of increasing his disposable income as well as his reserved and float to enable him become aggressive in his accumulation without over doing it such that it will not affects his living expenses negatively. Accumulating bitcoin in an aggressive way will determine on the size of your emergency funds. If the size of your emergency funds is up to 6 months size, you can buy bitcoin aggressively than someone whose emergency funds is 3 months. Reserve funds can be used to buy a new car or car repairs and vacations, so that your emergency funds will not be touched and floats can be used for going out to dinner or eat in a good restaurant. 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.
It's true, building wealth won't come quickly, it takes time and a process to get there. I think whatever type we will invest. However, when something easier and quicker comes along, I think why should I use another option. Yes, BTC really provides an opportunity to go there as an investment tool, whether you want to invest at the same time or use the DCA purchase method as many people are currently implementing. The easiest opportunity to invest is investing in DCA method, if you invest in DCA method you will be successful very quickly. Because the DCA method controls the average price of buying bitcoins, due to which each person can accumulate this investment for a long time and it is present to give the most benefits. The DCA method is a great plan to build a mountain of wealth with little by little. As the saying goes (a small grain of sand is a water drop, a continent rises from the bottom of the ocean) because if you keep accumulating small amounts of money, you can eventually build a mountain of great wealth. That is why DCA method is currently the best method among all investors.In as much as the dca strategy has numerous benefits there is no reason one should or trying make any form of comparison with other strategy as per which is the best method among all investor, every investor will only make that informed decisions of choice of strategy or strategies to be used in his accumulation process to suits him in terms of his, financial situation, risk tolerance level, investment goals and objectives, which all is aimed at maximizing every opportunities in the market to have a sizeable worth of Bitcoin. I believe DCA is the best method so far when it comes to building your bitcoin portfolio from the scratch as a new bitcoin investor, because you will be consistent in accumulating bitcoin every week or monthly without skipping any of the wee. Before you know it in four years time, your portfolio will have increased to an amount that you would have not being able to have to buy bitcoin once. DCA method is also flexible and stress free because you buy bitcoin with your discretionary income which you don't feel it as anything being deducted from your monthly income, and you can also buy bitcoin at various prices at the dip and at the bull giving your the opportunity to calculate your 200WMA. Lump sum will not give you the size of portfolio that someone that used DCA to buy will give to you in they hodli for the same number of years. This is because lump suming is a fixed price purchase, and buying at the dip is something a beginner don't even need because it is the worst strategy for them, it is hard to know when the price will dip and they will keep waiting and end up waiting wretched till old age because bitcoin price increases overtime.
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Tmoonz
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June 01, 2024, 04:20:00 PM |
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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. There is nothing wrong or risky for an investor investing 100% of his disposable or investing aggressively in to his Bitcoin investment, the idea of investing your disposable income has to do with a presumption that you have taken care of what you might have consider to be a basic needs with a provisional emergency funds inclusive which is very paramount towards your investment. However, before an investor must have been investing any where close to 100% of his disposable he must have been cutting down expenses such as not riding an extensive car, or not living in a more luxurious house, going on vacations so on and so forth for the purpose of increasing his disposable income as well as his reserved and float to enable him become aggressive in his accumulation without over doing it such that it will not affects his living expenses negatively. Accumulating bitcoin in an aggressive way will determine on the size of your emergency funds. If the size of your emergency funds is up to 6 months size, you can buy bitcoin aggressively than someone whose emergency funds is 3 months. Reserve funds can be used to buy a new car or car repairs and vacations, so that your emergency funds will not be touched and floats can be used for going out to dinner or eat in a good restaurant. 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.
It's true, building wealth won't come quickly, it takes time and a process to get there. I think whatever type we will invest. However, when something easier and quicker comes along, I think why should I use another option. Yes, BTC really provides an opportunity to go there as an investment tool, whether you want to invest at the same time or use the DCA purchase method as many people are currently implementing. The easiest opportunity to invest is investing in DCA method, if you invest in DCA method you will be successful very quickly. Because the DCA method controls the average price of buying bitcoins, due to which each person can accumulate this investment for a long time and it is present to give the most benefits. The DCA method is a great plan to build a mountain of wealth with little by little. As the saying goes (a small grain of sand is a water drop, a continent rises from the bottom of the ocean) because if you keep accumulating small amounts of money, you can eventually build a mountain of great wealth. That is why DCA method is currently the best method among all investors.In as much as the dca strategy has numerous benefits there is no reason one should or trying make any form of comparison with other strategy as per which is the best method among all investor, every investor will only make that informed decisions of choice of strategy or strategies to be used in his accumulation process to suits him in terms of his, financial situation, risk tolerance level, investment goals and objectives, which all is aimed at maximizing every opportunities in the market to have a sizeable worth of Bitcoin. I believe DCA is the best method so far when it comes to building your bitcoin portfolio from the scratch as a new bitcoin investor, because you will be consistent in accumulating bitcoin every week or monthly without skipping any of the wee. Before you know it in four years time, your portfolio will have increased to an amount that you would have not being able to have to buy bitcoin once. DCA method is also flexible and stress free because you buy bitcoin with your discretionary income which you don't feel it as anything being deducted from your monthly income, and you can also buy bitcoin at various prices at the dip and at the bull giving your the opportunity to calculate your 200WMA. Lump sum will not give you the size of portfolio that someone that used DCA to buy will give to you in they hodli for the same number of years. This is because lump suming is a fixed price purchase, and buying at the dip is something a beginner don't even need because it is the worst strategy for them, it is hard to know when the price will dip and they will keep waiting and end up waiting wretched till old age because bitcoin price increases overtime. It will be pointless having any form of arguments as regards to to the best method that is better or not, what is most important is how an investor can become consistence with their investment in order to have a good and sizeable worth of Bitcoin irrespective of the strategy or strategies that is being used, as each strategy has it's own functionality which can accessible to investors based on their general position in achieving their long goal and objectives.
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Eternad
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June 01, 2024, 04:52:38 PM |
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It’s very painful to read post on this thread since most of the users is committing violation of forum rule #1 which the use of quote pyramid. 1. Such posts as "SELL SELL SELL", "I agree", "+1", "Support", "Watching", "Interesting", "LOL", "SCAM", "LEGIT", "FAKE", other one word posts, posts consisting mostly of swearing, quote pyramids, useless introduction threads, threads about a topic already recently discussed in several other threads.
This thread is good in general for encouragement to buy and hold Bitcoin in long term, we should make the thread clean as much as possible by trimming previous quoted message or stop quoting the whole discussion. Just a friendly reminder for a neat discussion thread. Keep hodling!
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Smilevictorobinna
Jr. Member
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June 01, 2024, 04:56:45 PM |
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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.
It's true, building wealth won't come quickly, it takes time and a process to get there. I think whatever type we will invest. However, when something easier and quicker comes along, I think why should I use another option. Yes, BTC really provides an opportunity to go there as an investment tool, whether you want to invest at the same time or use the DCA purchase method as many people are currently implementing. The easiest opportunity to invest is investing in DCA method, if you invest in DCA method you will be successful very quickly. Because the DCA method controls the average price of buying bitcoins, due to which each person can accumulate this investment for a long time and it is present to give the most benefits. The DCA method is a great plan to build a mountain of wealth with little by little. As the saying goes (a small grain of sand is a water drop, a continent rises from the bottom of the ocean) because if you keep accumulating small amounts of money, you can eventually build a mountain of great wealth. That is why DCA method is currently the best method among all investors.In as much as the dca strategy has numerous benefits there is no reason one should or trying make any form of comparison with other strategy as per which is the best method among all investor, every investor will only make that informed decisions of choice of strategy or strategies to be used in his accumulation process to suits him in terms of his, financial situation, risk tolerance level, investment goals and objectives, which all is aimed at maximizing every opportunities in the market to have a sizeable worth of Bitcoin. I believe DCA is the best method so far when it comes to building your bitcoin portfolio from the scratch as a new bitcoin investor, because you will be consistent in accumulating bitcoin every week or monthly without skipping any of the wee. Before you know it in four years time, your portfolio will have increased to an amount that you would have not being able to have to buy bitcoin once. DCA method is also flexible and stress free because you buy bitcoin with your discretionary income which you don't feel it as anything being deducted from your monthly income, and you can also buy bitcoin at various prices at the dip and at the bull giving your the opportunity to calculate your 200WMA. Lump sum will not give you the size of portfolio that someone that used DCA to buy will give to you in they hodli for the same number of years. This is because lump suming is a fixed price purchase, and buying at the dip is something a beginner don't even need because it is the worst strategy for them, it is hard to know when the price will dip and they will keep waiting and end up waiting wretched till old age because bitcoin price increases overtime. Without beating about the bush, the DCA is a very good strategy, it will limit your risk for you, or should I say that it will average it for you on both the miss and the save sides where you might start the investment at a high price even when the asset will still move lower against your position (save), and you might start the investment at a very low price even when you can invest all and will be in your favour (miss). Regardless of the condition, DCA will always help investors to average their investments and will not miss too much which is the main thing here. But this can make you miss higher gains also, which is why the investment of all your money at once could be good at times. But you will have to understand the market before such can be risked. As a good speculator, one can know the bullish and the bearish times of the market, and one can know when the market has bottomed even if it is still bearish in trend. And with the knowledge of this, you can invest all your money at once if the market is bullish or has hit the bottom. The choice is yours, and some people observe the two to be better cautious.
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obuoma
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June 01, 2024, 06:58:38 PM |
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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. I am new to buying bitcoin to hold without being in a rush to sell and I can already agree with you on the risk not being significant for holding bitcoin for long. I know the fear and anxiety I was facing being a short term trader, it was draining me psychologically and most times I will sell and within few days regret why I sold so fast. The same with buying only to see the price go lower with a few days and I will be angry that I would have waited more. The possibilities of making mistakes with short time investment in bitcoin is just so high. Now I fell a bit relaxed and comfortable with bitcoin and even the spikes that do happen no longer bother me anymore. I don't even notice most of them because I no longer check the chat often unless when my money to purchase is ready, then I can look at the market and make an entry. 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.
This is a good observation you've got there. I never knew much about gold other than seeing the price movement in trading view. From the range I can see over the years, it is obvious bitcoin outperformed it in terms of returns so I will chose bitcoin over gold. I do not see much risk in bitcoin so it is a good choice for me and I am keenly interested in it.
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Churchillvv
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June 01, 2024, 10:12:32 PM |
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It’s very painful to read post on this thread since most of the users is committing violation of forum rule #1 which the use of quote pyramid. 1. Such posts as "SELL SELL SELL", "I agree", "+1", "Support", "Watching", "Interesting", "LOL", "SCAM", "LEGIT", "FAKE", other one word posts, posts consisting mostly of swearing, quote pyramids, useless introduction threads, threads about a topic already recently discussed in several other threads.
This thread is good in general for encouragement to buy and hold Bitcoin in long term, we should make the thread clean as much as possible by trimming previous quoted message or stop quoting the whole discussion. Just a friendly reminder for a neat discussion thread. Keep hodling! Perhaps I have corrected some of us here on this issues of walls of text quoting but some did listen and took the correction while other must have not seen any comments regarding that as it have been over 15-20 pages back. it's also good you brought up this issue I guess it will be taking not of. To everyone currently participating on this thread, either learning or sharing knowledge, take notes of this rules regarding quote pyramid and use the following to indicate yiu tailored the post to your area of interest, you can follow this below to indicate; [edited out] ~Snip~ Or you can even use the emoji and/or sign to show you edited so part out, ✂️. Etc - you can also use other synonyms relating to edited out that suits you. - Perhaps you can also learn from JayJuanGee on how he cuts out texts to respond to a particular area.
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boty
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June 02, 2024, 02:10:32 AM |
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The easiest opportunity to invest is investing in DCA method, if you invest in DCA method you will be successful very quickly. Because the DCA method controls the average price of buying bitcoins, due to which each person can accumulate this investment for a long time and it is present to give the most benefits. The DCA method is a great plan to build a mountain of wealth with little by little. As the saying goes (a small grain of sand is a water drop, a continent rises from the bottom of the ocean) because if you keep accumulating small amounts of money, you can eventually build a mountain of great wealth. That is why DCA method is currently the best method among all investors.
In as much as the dca strategy has numerous benefits there is no reason one should or trying make any form of comparison with other strategy as per which is the best method among all investor, every investor will only make that informed decisions of choice of strategy or strategies to be used in his accumulation process to suits him in terms of his, financial situation, risk tolerance level, investment goals and objectives, which all is aimed at maximizing every opportunities in the market to have a sizeable worth of Bitcoin. That's right, indeed everyone who wants to accumulate Bitcoins is certainly very beneficial for them if they really want to use this method when accumulating their Bitcoins and the most important thing is for them to do it consistently so they can look forward to future profits when prices increase, but before doing this of course They must have emergency fund savings so that when carrying out investments they do not experience interference with the need for these funds. Choosing a strategy that suits our abilities is of course very important and we should not do things beyond our abilities because if we continue to push ourselves, of course it will be difficult for us to achieve the targets we set.
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JayJuanGee
Legendary
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Self-Custody is a right. Say no to"Non-custodial"
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June 02, 2024, 02:43:12 AM |
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[edited out]
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. Maybe it could be a good idea to describe why a bitcoin accumulator might start feel more and more needs to diversify as his bitcoin investment grows. Let's just start with the accumulator who does not have any other investments. So the only investments/savings that he has is bitcoin and cash (or cash equivalents).. so yeah, in the beginning that cash and cash equivalents are used to bolster his emergency fund, reserves and float, yet as his bitcoin stash size continues to grow, he might start to feel especially lopsided in terms of his bitcoin accumulation. Let's take an example of a person who might be a bit more aggressive than usual, and he is aiming to invest/save into bitcoin around 15% of his annual salary/expenses. So it is still going to take such a person around 6.6 years just to reach 1 years worth of his salary invested into the accumulation of bitcoin. I am not sure that we need to describe exact numbers, but sometimes exact numbers can be helpful in order to provide more concrete examples... Yet if we consider that any kind of newer investor into bitcoin might spend 1-2 years getting used to the practice of investing into bitcoin and getting used to making sure that he has an emergency fund, reserves and float. Once he has his cash management and his various reserves in a decent position of management, then he might start to consider that once he gets up to a year or two of bitcoin value in terms of value, then he might realize that all of his various cash reserves still might ONLY add up to around 6 months or so of his income, but he also might consider that he does not really need to keep more than 6 months of cash around, yet if his bitcoin investment is 50% or 75% or more of his total investment portfolio that at that time ONLY constitutes cash and bitcoin, then he starts to think that he has to figure out ways to earn o his cash rather than realizing that the cash is not really working for him.. so in that sense he may well justify diversify into some of other kinds of assets rather than keeping his value in ONLY bitcoin and cash.. so usually the other kinds of assets might be some what particularized to the guy and maybe he ONLY adds one thing at a time, which could be stocks, properties, bonds, commodities and cash equivalents (and I don't think shitcoins are necessary, but if someone cannot resist getting into shitcoins to keep that less than 10% of the size of his bitcoin holdings). And as far as gold and silver, sure there could be some role for those in a guy's holdings, but there surely are no needs to emphasize them as being particular more important than other places that money could be put.. especially since bitcoin is largely serving similar roles as either of them, but int the ball park of at least 1,000x better than each of them, too.. so becomes a bit difficult to justify wasting too much efforts giving any kind of priority or special emphasis to either of those two. Many members are suggesting that there is no need to diversify outside of bitcoin because bitcoin gives the greatest profits, and even though that may end up being true, I doubt that the mere idea of greater profits or greater profit potentiality is the reason that some of us might merely just keep our value in bitcoin can cash and ONLY start to diversify into other assets much later down the road.. And, instead of labelling it and calling it profits, perhaps it would be better to label and/or call it sound money and/or no real need to justify investing in inferior products... but yeah, that could just be a bit of a semantical argument in terms of the term "profits" sounding like a wrong way of describing why bitcoin is the best and/or most prestine of assets currently available to anyone and/or everyone.
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1) Self-Custody is a right. There is no such thing as "non-custodial" or "un-hosted." 2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized. 3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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FinePoine0
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June 02, 2024, 05:37:37 AM |
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This thread is good in general for encouragement to buy and hold Bitcoin in long term, we should make the thread clean as much as possible by trimming previous quoted message or stop quoting the whole discussion. Just a friendly reminder for a neat discussion thread.
Keep hodling!
Discussions are very important here, as a bitcoin holder can share his plans and express his opinions here. Opinions based on which each other will get massive corrections from here, how to save bitcoin long term and holdings are available from here. But I want it to be more long-term.
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laijsica
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June 02, 2024, 07:21:59 AM |
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This thread is good in general for encouragement to buy and hold Bitcoin in long term, we should make the thread clean as much as possible by trimming previous quoted message or stop quoting the whole discussion. Just a friendly reminder for a neat discussion thread.
Keep hodling!
Discussions are very important here, as a bitcoin holder can share his plans and express his opinions here. Opinions based on which each other will get massive corrections from here, how to save bitcoin long term and holdings are available from here. But I want it to be more long-term. I also agree with you that this thread should be longer. Investors are expected to make positive decisions based on various suggestions. Especially important planning before investing/depositing in Bitcoin is to have a solid base of disposable income. Because most of the investors can get greedy and start investing/depositing with their precious margin after seeing the high trend of bitcoin price but if they don't manage it for long due to their proper planning or lack of floating cash, they are likely to lose. These topics are basically the most discussed in this thread which is very important.
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Barikui1
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June 02, 2024, 07:34:22 AM |
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It’s very painful to read post on this thread since most of the users is committing violation of forum rule #1 which the use of quote pyramid. 1. Such posts as "SELL SELL SELL", "I agree", "+1", "Support", "Watching", "Interesting", "LOL", "SCAM", "LEGIT", "FAKE", other one word posts, posts consisting mostly of swearing, quote pyramids, useless introduction threads, threads about a topic already recently discussed in several other threads.
This thread is good in general for encouragement to buy and hold Bitcoin in long term, we should make the thread clean as much as possible by trimming previous quoted message or stop quoting the whole discussion. Just a friendly reminder for a neat discussion thread. Keep hodling! I actually understand what you are saying, but please be understanding that this is a mega thread, you need to quote someone, like highlighting the statement or paragraph you are actually talking about, most times, we try to highlight only the statement or paragraph we want to talk about but, as newbies that we are, most of us don't know how to do it right, by trimming previous discussion, which am sorry for, as you have brought it to my notice I will try on my own part to do it right. And as for this thread, I think it's the brain box behind the ability of newbies like me to buy and hold effectively, because the knowledge and the teaching of JJG have really been helpful in my accumulating of Bitcoin so far, so it's definitely a good idea that this thread be kept as clean as possible.
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