Buy Bitcoin, and HODL!

[boty]

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.

[JayJuanGee]

[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.

[FinePoine0]

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.

[laijsica]

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.

[Barikui1]

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.

[Andrija Branislav]

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.

For me, this discussion is just normal, just questions and answers. What makes it extraordinary is that people care that BTC is an investment that must be made in a long-term pattern, not traded. This will answer all the statements how people can earn their wealth when they invest in BTC.

Thank you to JJG who always provides direction and guidance and is happy to straighten out what is not straight so that we will have the same perception and goals.

[Justbillywitt]

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.

In bitcoin investment you have to find out which one works for you without complicating things for yourself. You have to access your risk tolerance level, your anxiety level and generally what you expect to gain from the investment you are making. It's good that you have finally come to realize that trading isn't working for you and it's not your thing and you have decided to switch to long term hodl, though long term hodl is not a smooth ride, it has its ups and downs too but your determination and  patience that will determine how far you will get in this journey. There are people that trading works for very well, that's because they have mastered the techniques in it, they invested their time to study how things works out there. You were having those anxiety and psychological challenges because you didn't spend time to understand the ethics of trading and what it is all about. In buy and Hodl I hope you won't also run away when you begin to see the challenges associated to it? No place is a safe heaven when it comes to bitcoin investment, your patience is what will get you far. If you are looking for quick money you will not find buy the dip and Hodl interesting because here we buy and Hodl without much expectations because nothing is certain and it doesn't matter how long you have hold or you intend holding.

[Tmoonz]

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.

Am happy for you and it is a good thing that you have learnt from experience, experience they said most times happens to be the best teacher, it has been frequently said here how trading can be Very complex and cause a lots  of emotional devastation even to experience ones let alone a newbie, it is good thing that you have found the true potential Bitcoin holds as best considered in terms of long term perspective by given you that peace of mind you needed to grow your asset.

[Smilevictorobinna]

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.

In bitcoin investment you have to find out which one works for you without complicating things for yourself. You have to access your risk tolerance level, your anxiety level and generally what you expect to gain from the investment you are making. It's good that you have finally come to realize that trading isn't working for you and it's not your thing and you have decided to switch to long term hodl, though long term hodl is not a smooth ride, it has its ups and downs too but your determination and  patience that will determine how far you will get in this journey. There are people that trading works for very well, that's because they have mastered the techniques in it, they invested their time to study how things works out there. You were having those anxiety and psychological challenges because you didn't spend time to understand the ethics of trading and what it is all about. In buy and Hodl I hope you won't also run away when you begin to see the challenges associated to it? No place is a safe heaven when it comes to bitcoin investment, your patience is what will get you far. If you are looking for quick money you will not find buy the dip and Hodl interesting because here we buy and Hodl without much expectations because nothing is certain and it doesn't matter how long you have hold or you intend holding.

Holding and trading in Bitcoin is very important.
Because it is definitely good to have an idea about Bitcoin holdings because gaining knowledge is always a good sign. Holdings are always long-term, and holding bitcoins is much less risky. Usually in a wallet you can hold bitcoins for a long time (repeatedly monthly or weekly, and also following the DCA method). Thus if you are holding bitcoins you need to use a secure wallet, which you can use a hardware wallet. Only a secure hardware wallet can store bitcoins for long periods of time with much less risk.

Trading is very sensitive. Because you should always keep updated news about the market. And a mistake is more likely to result in loss. Because the Bitcoin market is always up and down, if you can't trade on time, then you must do it at risk. This is why trading always involves a lot of risk.

Finally I would say holding is safer than trading. Because trading is always high risk and long term holding is low risk. Benefits are more in long term holding.

[Roseline492]

Holding and trading in Bitcoin is very important.

Trading is very sensitive. Because you should always keep updated news about the market. And a mistake is more likely to result in loss. Because the Bitcoin market is always up and down, if you can't trade on time, then you must do it at risk. This is why trading always involves a lot of risk.

I wonder why you will believe that trading is very important whn you know that the complexity in trading is beyond the accurate understanding of everyone especially those who are still new in Bitcoin, so do not regard trading as an important factor or an alternative of Bitcoin investment because you will be making a very huge mistake, perhaps the only thing that should be regarded is holding because whichever different perspective you view holding you will always arrived on a successful investment at the end or in the future, so actually if all the Short term holders and traders will see Bitcoin from my own direction they would not have been talking about trading.

[Smilevictorobinna]

Holding and trading in Bitcoin is very important.

Trading is very sensitive. Because you should always keep updated news about the market. And a mistake is more likely to result in loss. Because the Bitcoin market is always up and down, if you can't trade on time, then you must do it at risk. This is why trading always involves a lot of risk.

I wonder why you will believe that trading is very important whn you know that the complexity in trading is beyond the accurate understanding of everyone especially those who are still new in Bitcoin, so do not regard trading as an important factor or an alternative of Bitcoin investment because you will be making a very huge mistake, perhaps the only thing that should be regarded is holding because whichever different perspective you view holding you will always arrived on a successful investment at the end or in the future, so actually if all the Short term holders and traders will see Bitcoin from my own direction they would not have been talking about trading.

Please try reading everything before you reply someone, if you read through you will see where I said hodling is the best and the safest when it comes to bitcoin investment.

Trading is also good for some people and I know a lot of people making money from it even with the risk involved when you know how it works you can make money from it however as a newbie is advised to focus only on hodling to avoid losing your money.

[B2Z]

Holding and trading in Bitcoin is very important.

Trading is very sensitive. Because you should always keep updated news about the market. And a mistake is more likely to result in loss. Because the Bitcoin market is always up and down, if you can't trade on time, then you must do it at risk. This is why trading always involves a lot of risk.

I wonder why you will believe that trading is very important whn you know that the complexity in trading is beyond the accurate understanding of everyone especially those who are still new in Bitcoin, so do not regard trading as an important factor or an alternative of Bitcoin investment because you will be making a very huge mistake, perhaps the only thing that should be regarded is holding because whichever different perspective you view holding you will always arrived on a successful investment at the end or in the future, so actually if all the Short term holders and traders will see Bitcoin from my own direction they would not have been talking about trading.

Before we decide to trade, I need to gain enough knowledge about the trade. If I don't understand the trade well, I will never live up to the expectations that I have with the trade.  But in trading, we must trade with the risk that is in the trade. Many times if we don't get success, then we lose the trade patience. Patience is very important. We must be patient before trading. If we can trade patiently, of course in the future. We will get success through trade. We always have to have a long-term plan. Sometimes we are in a hurry. We should not be in a hurry when trading. There are many people who trade, they are in a hurry, they think that they will become millionaires overnight, but it is not like that. Of course, you will gain money in trading, but for that, you need to be patient enough.

[Kliss]

[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.

I totally understand your point, When a person invests solely in bitcoin and cash they might start feeling a bit uneasy as their bitcoin holdings grow. It can feel like they are too heavily invested in one asset, especially if they are quite aggressive in their approach, like the example you mentioned about investing 15% of their annual salary in bitcoin. It could take quite a while, around 6.6 years, for them to accumulate an amount equivalent to one year's salary in bitcoin. That is a significant commitment. Sometimes it makes sense to diversify a bit as their bitcoin holdings increase to avoid being too one sided. Additionally for new investors in bitcoin, it's crucial for them to take time to build up their emergency fund, reserves, and financial cushion before going all in for bitcoin. Once a person has their cash management and reserves in good shape, they might start considering diversifying into other assets apart from just bitcoin and cash. Starting with adding things like stocks, properties, bonds, commodities, and cash equivalents one by one could be a wise move. Gold and silver could have a role in a person's holdings, but it's not necessary to prioritize them over other investment options, especially since bitcoin serves similar functions.

Some guys are saying there is no need to diversify beyond bitcoin because it offers the highest profits. But it's not just about profits, it's about sound money and not investing in inferior products. There might be a semantic argument about why bitcoin is considered the best asset currently available to everyone.

[Obim34]

Holding and trading in Bitcoin is very important.

Trading is very sensitive. Because you should always keep updated news about the market. And a mistake is more likely to result in loss. Because the Bitcoin market is always up and down, if you can't trade on time, then you must do it at risk. This is why trading always involves a lot of risk.

I wonder why you will believe that trading is very important whn you know that the complexity in trading is beyond the accurate understanding of everyone especially those who are still new in Bitcoin, so do not regard trading as an important factor or an alternative of Bitcoin investment because you will be making a very huge mistake, perhaps the only thing that should be regarded is holding because whichever different perspective you view holding you will always arrived on a successful investment at the end or in the future, so actually if all the Short term holders and traders will see Bitcoin from my own direction they would not have been talking about trading.

Practically I may not accept that user @Smilevictorobinna understands what trading is, in his context what way do we agree that trading is very sensitive just for the benefit of getting updated news and price market value, all of these are unreal. Even a person who do not participate in Bitcoin trading is aswell updated, you must not be a trader to be inquisitive to new ideas and information, here in this forum we often get Bitcoin updated news by users which doesn't implies them as a trader.  Knowing quite well that trading possesses the trait of loosing huge funds in a short period of time, how then do we still find it sensitive enough with as much benefit to lure a person into trading.

[Moreno233]

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.

After thinking this properly, I think I can now understand why people do diversify in their investment. I noticed that there is usually a point where one feel the need not to also have investment in other asset especially physical assets to avoid the idea of "laying all eggs in one basket". Such diversification may not necessarily be because the physical asset is more profitable than Bitcoin, it could just be a hedge which is normal in business. Areas to diversify to depends largely on passion, knowledge and level of financial capacity. Some might have passion for real estate, some import/export which is popular in my place, some agriculture, the list is endless. The bottom-line is that diversification is not a bad business approach as it does not constitute any distraction to Bitcoin accumulation. Having been investing in Bitcoin for a while and have been able to get reasonable quantity of Bitcoin, I do feel the urge to also invest in other areas just as a backup and to also keep me busy as Bitcoin investment does not really consume much of my time.

What I do not consider diversification is buying shitcoin and calling it diversification. I know some people do this and think they are diversifying but I don't consider it a great way to diversify because Bitcoin is just enough to consider base on the low risk level and the high level of reliability it has. It will not be fine if what is supposed to be a hedge to Bitcoin to turn out as scam.

[Jon pyagbara]

[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.

You have made a point on how Bitcoin is serving similar roles to gold and silver,  but investors may still find some more value in the allocation of part portion of their samples to some valuable metals and other assets for specific reasons, which can be seeing In the aspects  risk management of market volatility , and inflations.

It is also paramount to identify individual financial goals, risk tolerance, And strategy of investment being so unique. Bitcoin can be a great part of one's investment, diversification can help ensure risk management and keep them all working together for a long term purpose.

[Zackz5000]

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.

In bitcoin investment you have to find out which one works for you without complicating things for yourself. You have to access your risk tolerance level, your anxiety level and generally what you expect to gain from the investment you are making. It's good that you have finally come to realize that trading isn't working for you and it's not your thing and you have decided to switch to long term hodl, though long term hodl is not a smooth ride, it has its ups and downs too but your determination and  patience that will determine how far you will get in this journey. There are people that trading works for very well, that's because they have mastered the techniques in it, they invested their time to study how things works out there. You were having those anxiety and psychological challenges because you didn't spend time to understand the ethics of trading and what it is all about. In buy and Hodl I hope you won't also run away when you begin to see the challenges associated to it? No place is a safe heaven when it comes to bitcoin investment, your patience is what will get you far. If you are looking for quick money you will not find buy the dip and Hodl interesting because here we buy and Hodl without much expectations because nothing is certain and it doesn't matter how long you have hold or you intend holding.

Holding and trading in Bitcoin is very important.
Because it is definitely good to have an idea about Bitcoin holdings because gaining knowledge is always a good sign. Holdings are always long-term, and holding bitcoins is much less risky. Usually in a wallet you can hold bitcoins for a long time (repeatedly monthly or weekly, and also following the DCA method). Thus if you are holding bitcoins you need to use a secure wallet, which you can use a hardware wallet. Only a secure hardware wallet can store bitcoins for long periods of time with much less risk.

Trading is very sensitive. Because you should always keep updated news about the market. And a mistake is more likely to result in loss. Because the Bitcoin market is always up and down, if you can't trade on time, then you must do it at risk. This is why trading always involves a lot of risk.

Finally I would say holding is safer than trading. Because trading is always high risk and long term holding is low risk. Benefits are more in long term holding.

Why don't you say buying and hodling in Bitcoin is very important rather than saying buying and trading in Bitcoin is very important, what we are discussing in this thread is not about your trading but buying Bitcoin and HODL for a longer period of time from 4-10 and above.
And besides Bitcoin can never be tradable coin those that trade in Bitcoin sees Bitcoin investment as a get rich quick scheme and they are like gamblers that strive for a short term investment going for a smaller profit instead of accumulating more Bitcoin and hold in order to have a better profit, moreover what you should have been talking about is how investors can buy more Bitcoin and hodl for a longer period of time.

[ginsan]

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Some guys are saying there is no need to diversify beyond bitcoin because it offers the highest profits. But it's not just about profits, it's about sound money and not investing in inferior products. There might be a semantic argument about why bitcoin is considered the best asset currently available to everyone.

Of course, there were many inaccurate assumptions previously which meant that diversification was towards shitcoins, not gold or silver. Well, of course many people refuse to do that, but if you diversify it to gold or silver, of course many people do that and maybe that's a good choice if we are satisfied with our bitcoin holdings.

For myself, I am not satisfied with my BTC holdings, which means I will continue to focus on my plan to continue accumulating Bitcoin for years to come and hopefully I will have a long life to be able to do that.

Apart from that, the uniqueness of Bitcoin compared to gold and silver is of course the scarcity that will occur because Bitcoin has a limited supply and that is what attracts me to continue buying BTC.

[GeorgeJohn]

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.

To accumulate bitcoin is needful and from my own way of understanding the concept of Bitcoin accumulations, its good to accumulate your bitcoin without having anything in mind, because some persons today when they purchase bitcoin to hold for long-term maybe few issues will make them to sell out their bitcoin, in normal circumstances an investor supposed to have a duration to sell their bitcoin, because I can see that some of us do have interest to accumulate bitcoin but they don't know the proposed time to sell their bitcoin, so I'm emphasizing that bitcoin accumulation to neither new investor or old investors should have a particular time it supposed to have as target..so person will purchase bitcoin now in the name of accumulation and it will not be up one month and they sell out of their bitcoin they recently purchased.

Practically I may not accept that user @Smilevictorobinna understands what trading is, in his context what way do we agree that trading is very sensitive just for the benefit of getting updated news and price market value, all of these are unreal. Even a person who do not participate in Bitcoin trading is aswell updated, you must not be a trader to be inquisitive to new ideas and information, here in this forum we often get Bitcoin updated news by users which doesn't implies them as a trader.  Knowing quite well that trading possesses the trait of loosing huge funds in a short period of time, how then do we still find it sensitive enough with as much benefit to lure a person into trading.

actually many people doesn't peruse into trading and understand the concept before they ventured into it, sometimes it's people who introduced some people into trading that mislead them to see trading as one of major tools or criteria to make funds to rain, not knowing that trading is a risk and it has it's procedures, in norms, its obvious and understandable that any beneficiary of trading in quantum have undergoes different examinations of training, you can't wake up and kickoff trading journey with have a comprehensive understanding of it and you expect something profitable.

[BABY SHOES]

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Some guys are saying there is no need to diversify beyond bitcoin because it offers the highest profits. But it's not just about profits, it's about sound money and not investing in inferior products. There might be a semantic argument about why bitcoin is considered the best asset currently available to everyone.

Of course, there were many inaccurate assumptions previously which meant that diversification was towards shitcoins, not gold or silver. Well, of course many people refuse to do that, but if you diversify it to gold or silver, of course many people do that and maybe that's a good choice if we are satisfied with our bitcoin holdings.

For myself, I am not satisfied with my BTC holdings, which means I will continue to focus on my plan to continue accumulating Bitcoin for years to come and hopefully I will have a long life to be able to do that.

Apart from that, the uniqueness of Bitcoin compared to gold and silver is of course the scarcity that will occur because Bitcoin has a limited supply and that is what attracts me to continue buying BTC.

Shitcoin is not an asset it is just dust that is not valuable at all make sure to avoid it while gold and silver assets are of stable value but most women like these items, I myself leave my wife alone to handle it.

While you can still earn to do DCA to bitcoin keep going because the bigger your portfolio the higher the future profits, I don't know how long I have 1 BTC but at least try to accumulate if you can still do it.

Even bitcoin can be used as an asset for your pension fund, education funds for your children, can be made a safer investment in the sense that bitcoin is much bigger.