Justbillywitt
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July 22, 2024, 04:40:49 PM |
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especially since Trump supports Bitcoin, which is the first step for us to see Bitcoin reach $100k.
Hahaha, do you think Trump has the power or influence? Trump-supporting Bitcoin is not an assurance or the first step for Bitcoin to achieve the 100k price. One characteristic of Bitcoin is that it doesn't need political support to be successful. As an investor, I believe that I have come to know the factors that can influence the price which are mass adoption (demand and supply), advancement in technological development, regulatory enforcement, and other economic conditions but political promises/fallacies are not for me. Instead of focusing on political promises, investors should be more concerned about informed decisions, research, risk assessment, and engaging in Bitcoin discussions to improve their knowledge of Bitcoin which will help them with their investment. Bitcoin will keep increasing in value if there are more people chasing after it and that means more liquidity flowing into the market. With Trump publicly supporting bitcoin it means that some influencal people around the world will start developing interest/confidence in bitcoin and they will try to invest in it. If Trump should win the US election and he keeps his words by making the United States bitcoin friendly for miners and investors and make policies that will favour bitcoin, this will no doubt make bitcoin appreciate more in value, because other nations will want to follow that path. And this will help in wide spread and mass adoption of bitcoin. Even though Trump on his own cannot decide where bitcoin price will be, but his actions will bring more people in and when more people comes into bitcoin investment it will only result to more demand for bitcoin, and when the demand is higher and supply is limited you know what will happen to bitcoin price right? So political events plays certain roles that influences bitcoin prices either upward or downward.
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Samlucky O
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July 22, 2024, 05:06:28 PM Merited by JayJuanGee (1) |
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People who panic are not investors but they are traders.
People who are slow and full of hope are not loyal or long term investors but they are traders.
These two characteristics can be ignored in each of you.
Just buy BTC and save it until you have children and grandchildren because Bitcoin investment is very good for the long term.
I prefer the old style of investors who accumulate bitcoins gradually but they don't sell them at every recorded ATH. why don't they sell because they know bitcoin is very limited. Whatever happens, buy bitcoin even if it's $10, do it gradually.
Do you know that bitcoin investment is risk, what I will tell you is that don't bag your eggs with one bag, you can invest in bitcoin for long-term but is not something that you will invest for your future children because its clear that nobody knows if the technology of bitcoin blockchain will fade off one day, their is a place I read in this forum, it stated that you should make bitcoin your side hustle I put it to you that you don't really know what you are talking about, everything in this life is risky both investment and whatever. so bitcoin is not exception from them. I prefer risking a potential asset like bitcoin than risking on some gambling shitcoin. You have made alot of points as regard to bitcoin but I see it a little bit problematic . 1) you said do we know that bitcoin is risky? Answer, yes bitcoin is risky but also profitable do to its volatility. 2) you said we shouldn't put our eggs in one basket? Yes we shouldn't do so, but but for me investing in bitcoin should be a major priority of investment that we should consider before talking about diversification. 3) you said we should invest in lung term but not to invest for our future children? I think our investment in bitcoin is kept as a store of value for retirement and also an asset kept for our future generation just like other physical asset are kept for the future. so if our hairs decides not to continue our legacy to continue with bitcoin investment, they can use the accumulated bitcoin for whatever they chose to invest. we have discussed that we should not force our children to invest in bitcoin. 4) you said no body know if bitcoin will fade away one day so we make it a side hustle? it's depends on your choice or where you hear your speculation from, because as far as I know bitcoin will last more than 100 years. we have total of 21million bitcoin in existence 1.5million is left to mine. according to research the last block to be mine in bitcoin will take place in the year 2140 that is 116years from now. so I can tell you that bitcoin can last more than your speculation. for the side hustle, it depends on you but I will tell you that bitcoin is a major asset to recon on. if Michael J Saylor and somany business tycon can use bitcoin as a major asset investment why will I use it as a side hustle. and moreover when saying bitcoin should be used as a side hustle you make it look thus like a short term profit mechanism while it's a long term asset. so as your investing in cryptocurrency you have to be mindful and don't put all you hope on it, now bitcoin is increasing and everyone is ready and interested to buy more bitcoin, but never know that bitcoin price can crash from this high price to low price, and it has happened in this form so many times, and it's possible another currency that is higher that bitcoin can be introduced.
although it depends on how you think or feel about bitcoin. yes bitcoin may fall to even zero but there are many prove to why bitcoin may not fall to zero no matter the speculation. and I have strong believe and prove that bitcoin will not fall so soon and I have proven a little bit to you in the last explanation in no 4 of my reply. and another thing there is that the dip in price of bitcoin is not a bad signal or sign of bitcoin but an advantage to HODLers to capitalise to still accumulate more and not seeing a different picture.
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Yucky
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July 22, 2024, 07:32:09 PM |
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The fantasy to Invest on cryptocurrency is to actualize profit but after being invested and the market made frowning of Dipping while you expected increases based on your investment goal, you can actually panic to sell when you do not trust the coin you invested in but if invested on Bitcoin, I bet keep hodling and buy more at the Dip and keep hodling will incline you a whale accumulator because after the Cons comes the Pros.
Some new folks here might get confused trying to read down your explanation, did you know that cryptocurrency is a general name given to all the coin including Bitcoin and shitcoins? I almost got confused when reading it because you mentioned cryptocurrency how untrusted they are which means Bitcoin in included so try and give it a clear clearification so newbies will get full understanding of what you are actually talking about, if it is altcoins, shitcoins, or Bitcoin you specify the particular one you are talking about rather than generalizing it to cryptocurrency because Bitcoin is also part of cryptocurrency. @Zack5000 I think you misunderstood EluguHcman narratives as his explanations was not in any way suggesting or generalizing cryptocurrency in terms of Bitcoin and other coins perhaps he also made use of Bitcoin in his narrative as to adding meaning to his narration and I don't think there is any problem with that in as much as it is a Bitcoin thread his reference was very clear and understandable, the only problem I have with EluguHcman post is that he prioritized buying at the dip whereas the DCA strategy allows you to buy at all times irrespective of the market condition. while he might not be making any general statement, it's necessary we get used to making use of the word Bitcoin and not just mere coin or crypto. An average person out there is already getting misinformed with regards the difference between Bitcoin and some coins that's out there and with the way this thread is growing, we can't tell how useful it will be in the future and making use of a word that has the tendency of giving readers a mix or mared understanding of what Bitcoin is should be totally discouraged. It's necessary as we continue in this discussion that we make use of the right words at the right time and in the right way. It's also good that we learn to understand the reason why it's not advisable to only wait to buy during the DIP. as people continue joining the discussion, they will certainly come with an uninformed mindset and a lot of us came in with those kind of mindset, it was through regular correction and emphasis on these things that helped us get the right narrative on why it's not advisable to invest in a other digital asset outside of Bitcoin and we also got to know that it's right to buy Bitcoin as long as we have the means to doing so and hold it for a long time while we keep on buying which is what we've come to know as the DCA methord. We're all learning and striving for perfection and with a combined effort by all of us, we're going to grow together to have a strong Bitcoin portfolio through the advice and motivation we can gather from ourselves.
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sotelorene
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Eloncoin.org - Mars, here we come!
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July 22, 2024, 08:14:47 PM |
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Perhaps what @Onyeeze failed to understand is that his theory of not having all the eggs in one bag shouldn't reflect on Bitcoin investment because I don't think there is any other investment more better than Bitcoin investment in my mind now in terms of diversification, however from his statement he seem to have been having a doubt about the future of the technology behind Bitcoin, however on the contrary instead of the technology to decline it will even improve the more as time goes by so he should remove his mindset about the technology because Bitcoin can never be affected anyway, so actually if this is the reason why he is having a double thought about Bitcoin investment I would suggest he start accumulating Bitcoin now because if he did not he will surely regret in the future.
“Behold, the fool saith, "Put not all thine eggs in the one basket" - which is but a matter of saying, "Scatter your money and your attention"; but the wise man saith, "Pull all your eggs in the one basket and - WATCH THAT BASKET." - Pudd'nhead Wilson's Calendar”Author ― Mark Twain, Pudd'nhead WilsonHonestly, i think diversification has to do with one's financial level at every stage in life. If a bitcoin investor have enough money to diversify then he should do so, but prioritizing his Bitcoin investment should be a necessity. At some stage in life (especially to the grownups within the age of 50 and above) they might be more scared to diversify because it will be harder to recover if the investment does not turn out successful. They rather choose to protect their wealth, by so doing sticking to just one investment that has been working properly for them. But a young man in his 20s can choose to try other investments as long as he is capable of doing so if it doesn't go out well, he has more time to come back up. But I won't want to take that chance. Concentrating on one investment builds wealth and I have tried it and it worked. If I am to diversify then it is to protect that wealth but I will put in my money into a safer asset. I wish I can lay hands on a post that suggest that the way to becoming rich is to master one skill (can be a business, product, act, practice etc) and be efficient in it. The emphasis is on one skill and if you study the rich people of the world, most of them became rich through one product and are known for such product. Just take a mental picture of this, you will understand better. In my state, the richest man in one of the neighborhood deals on umbrella. He is richer than people in oil and gas and even politics but no one could imagine that an umbrella dealer who ship in several containers of umbrella could be that rich. What I'm saying in essence is that people should start focusing on bitcoin instead of this diversification of a thing that can turn out to be a big distraction. Bitcoin is enough for us here, if we master the act of buying and holding, we might be building wealth that we will be remembered for by generations to come. Imagine when bitcoin hit $1 million, how many people would have been made. It may seem impossible but it will happen, just that no one know when. You may be right to some extent but to me I don't think is wise to master only one skill I mean what if you went to a place that, that your skill is not functioning I mean they don't do something like that, it will be so unfortunate right. Having more than one skill will give one a big advantage over those that doesn't even to yourself and in case you have forgotten Bitcoin investment is not a skill and being a Bitcoiner doesn't mean you shouldn't invest in other things you know you can make out something from and moreover, diversification is very good but not investing in shitcoin and memecoin because that's going to be a waste depending sha.
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Felicity_Tide
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cout << "Bitcoin";
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July 22, 2024, 09:34:42 PM Merited by JayJuanGee (1) |
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Previously I said think about what you decide, that way you will have a strong mentality to face anything in bitcoin investment. People misunderstand and they are sucked in by fud, so don't fall for the talk that says bad things about Bitcoin.
I have observed that Bitcoin is very strong with a market cap that continues to grow, so from here you have to think that every day or every quarter new people continue to join Bitcoin in the sense that they trust Bitcoin more than others.
For that reason, don't misunderstand me because I said think before making a decision. So, that way, long-term planning will run more smoothly without any burden on your mind. Just keep buying and holding, especially since Trump supports Bitcoin, which is the first step for us to see Bitcoin reach $100k.
I would be careful if you are expecting bitcoin's performance or long-term viability is connected with politics. Sure, there can be some advantages in terms of having politicians seeming to be on the side of bitcoin rather than fighting against it, but any of us might also get mislead if we start to place too much faith in politicians and/or various regulatory outcomes.. whether we are referring to the USA or to El Salvador or any other country. Sure it is nice that some governments (or some politicians) are not fighting against bitcoin, yet bitcoin surely is not dependent upon politicians and regulations and there might even be some conflicts of interest or even some ways in which politicians and/or regulations that appear to be aligned with bitcoin are not aligned with bitcoin.. which surely many of us even have trouble agreeing upon what is bitcoin or what are the various purposes (and/or utility aspects) of bitcoin, ....so how would we necessarily expect that either politicians or the various regulation that they might propose or support would necessarily be aligned with what might be good for bitcoin, including good for regular and normal people rather than some of the interests that might be pumping certain agendas that may or may not line up well with interests of normal people.. aka normies... including but not limited to self-sovereignty and empowerment that may not even be the same as number go up, which even number go up helps incumbent bitcoiners, but might not be in the interest of good people who happen to be no coiners, low coiners and/or pre-coiners (and might not even know or appreciate that they are precoiners)... in other words, careful hitching your wagon too much to any politician and/or regulatory stance that may well be ambiguous and potentially in conflict with some of bitcoin's already existing qualities. . I have been staring at your reply for a while now, not knowing what exactly to write, as you've said it all. Though, they are lots of things on my mind, but I will try as much to make contributions without been to harsh towards politics(because am not a fan). Firstly, I am not a fan of politics. I really don't know why others still show interest, but I personally find it difficult to believe in all their say, or even bother to listen to what they have to say. The truth is, politics and Bitcoin are two different things that might not work in hand. My reason for saying this is because: Bitcoin happens to be very transparent and open. it is a system of decentralization where power belongs to everyone who is connected. This is unlike politics where power belongs to a certain group of people that categories themselves as same party members or dictators. Secondly, I am not motivated to invest in Bitcoin because a political candidate is showing interest or has made several promises. I am making my own investment for my own benefits. I think we should be cautious especially when someone begins to make too many promises (with Bitcoin) just to get the interest and vote of the people. I don't support anyone, but I think when promises like this keep coming, then not all would be fulfilled at the later end, leading to so many disappointment. And lastly, the past and present government(politicians) has already caused enough disappointment by failing to do the needful for the benefits of their nation. Making promises with Bitcoin isn't a green light for me at all. I shouldn't be motivated to invest in Bitcoin just because a politician has it in mind. But Incase those campaign promises becomes true at the end of the day, then it's still for the betterment (benefits) of everyone.
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Miles2006
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July 22, 2024, 10:42:19 PM |
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Perhaps what @Onyeeze failed to understand is that his theory of not having all the eggs in one bag shouldn't reflect on Bitcoin investment because I don't think there is any other investment more better than Bitcoin investment in my mind now in terms of diversification, however from his statement he seem to have been having a doubt about the future of the technology behind Bitcoin, however on the contrary instead of the technology to decline it will even improve the more as time goes by so he should remove his mindset about the technology because Bitcoin can never be affected anyway, so actually if this is the reason why he is having a double thought about Bitcoin investment I would suggest he start accumulating Bitcoin now because if he did not he will surely regret in the future.
“Behold, the fool saith, "Put not all thine eggs in the one basket" - which is but a matter of saying, "Scatter your money and your attention"; but the wise man saith, "Pull all your eggs in the one basket and - WATCH THAT BASKET." - Pudd'nhead Wilson's Calendar”Author ― Mark Twain, Pudd'nhead WilsonHonestly, i think diversification has to do with one's financial level at every stage in life. If a bitcoin investor have enough money to diversify then he should do so, but prioritizing his Bitcoin investment should be a necessity. At some stage in life (especially to the grownups within the age of 50 and above) they might be more scared to diversify because it will be harder to recover if the investment does not turn out successful. They rather choose to protect their wealth, by so doing sticking to just one investment that has been working properly for them. But a young man in his 20s can choose to try other investments as long as he is capable of doing so if it doesn't go out well, he has more time to come back up. But I won't want to take that chance. Concentrating on one investment builds wealth and I have tried it and it worked. If I am to diversify then it is to protect that wealth but I will put in my money into a safer asset. I wish I can lay hands on a post that suggest that the way to becoming rich is to master one skill (can be a business, product, act, practice etc) and be efficient in it. The emphasis is on one skill and if you study the rich people of the world, most of them became rich through one product and are known for such product. Just take a mental picture of this, you will understand better. In my state, the richest man in one of the neighborhood deals on umbrella. He is richer than people in oil and gas and even politics but no one could imagine that an umbrella dealer who ship in several containers of umbrella could be that rich. What I'm saying in essence is that people should start focusing on bitcoin instead of this diversification of a thing that can turn out to be a big distraction. Bitcoin is enough for us here, if we master the act of buying and holding, we might be building wealth that we will be remembered for by generations to come. Imagine when bitcoin hit $1 million, how many people would have been made. It may seem impossible but it will happen, just that no one know when. You may be right to some extent but to me I don't think is wise to master only one skill I mean what if you went to a place that, that your skill is not functioning I mean they don't do something like that, it will be so unfortunate right. Having more than one skill will give one a big advantage over those that doesn't even to yourself and in case you have forgotten Bitcoin investment is not a skill and being a Bitcoiner doesn't mean you shouldn't invest in other things you know you can make out something from and moreover, diversification is very good but not investing in shitcoin and memecoin because that's going to be a waste depending sha. It’s kinda complicated with the last word tho, there’s no such like profit when dealing with shitcoin, memecoin etc. The common reason investors still choose to invest only in bitcoin for the long run is because they know how reliable and comfortable bitcoin investing it, it’s okay when an investor want to diversify their investment because it’s not advisable anyone invest 100% but it’s a matter of choice. For clarity purpose, diversification should be considered when an investor has attained a balance portfolio secondly in terms of choosing an investment choice also matters but, more especially on an investor capacity for example, if any newbie should think of diversify at an early stage which I believe is not proper because they have not gotten to a balance stage where they can comfortably diversify.
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Justbillywitt
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July 22, 2024, 11:33:57 PM Merited by JayJuanGee (1) |
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Previously I said think about what you decide, that way you will have a strong mentality to face anything in bitcoin investment. People misunderstand and they are sucked in by fud, so don't fall for the talk that says bad things about Bitcoin.
I have observed that Bitcoin is very strong with a market cap that continues to grow, so from here you have to think that every day or every quarter new people continue to join Bitcoin in the sense that they trust Bitcoin more than others.
For that reason, don't misunderstand me because I said think before making a decision. So, that way, long-term planning will run more smoothly without any burden on your mind. Just keep buying and holding, especially since Trump supports Bitcoin, which is the first step for us to see Bitcoin reach $100k.
I would be careful if you are expecting bitcoin's performance or long-term viability is connected with politics. Sure, there can be some advantages in terms of having politicians seeming to be on the side of bitcoin rather than fighting against it, but any of us might also get mislead if we start to place too much faith in politicians and/or various regulatory outcomes.. whether we are referring to the USA or to El Salvador or any other country. Sure it is nice that some governments (or some politicians) are not fighting against bitcoin, yet bitcoin surely is not dependent upon politicians and regulations and there might even be some conflicts of interest or even some ways in which politicians and/or regulations that appear to be aligned with bitcoin are not aligned with bitcoin.. which surely many of us even have trouble agreeing upon what is bitcoin or what are the various purposes (and/or utility aspects) of bitcoin, ....so how would we necessarily expect that either politicians or the various regulation that they might propose or support would necessarily be aligned with what might be good for bitcoin, including good for regular and normal people rather than some of the interests that might be pumping certain agendas that may or may not line up well with interests of normal people.. aka normies... including but not limited to self-sovereignty and empowerment that may not even be the same as number go up, which even number go up helps incumbent bitcoiners, but might not be in the interest of good people who happen to be no coiners, low coiners and/or pre-coiners (and might not even know or appreciate that they are precoiners)... in other words, careful hitching your wagon too much to any politician and/or regulatory stance that may well be ambiguous and potentially in conflict with some of bitcoin's already existing qualities. . I have been staring at your reply for a while now, not knowing what exactly to write, as you've said it all. Though, they are lots of things on my mind, but I will try as much to make contributions without been to harsh towards politics(because am not a fan). Firstly, I am not a fan of politics. I really don't know why others still show interest, but I personally find it difficult to believe in all their say, or even bother to listen to what they have to say. The truth is, politics and Bitcoin are two different things that might not work in hand. My reason for saying this is because: Bitcoin happens to be very transparent and open. it is a system of decentralization where power belongs to everyone who is connected. This is unlike politics where power belongs to a certain group of people that categories themselves as same party members or dictators. Secondly, I am not motivated to invest in Bitcoin because a political candidate is showing interest or has made several promises. I am making my own investment for my own benefits. I think we should be cautious especially when someone begins to make too many promises (with Bitcoin) just to get the interest and vote of the people. I don't support anyone, but I think when promises like this keep coming, then not all would be fulfilled at the later end, leading to so many disappointment. And lastly, the past and present government(politicians) has already caused enough disappointment by failing to do the needful for the benefits of their nation. Making promises with Bitcoin isn't a green light for me at all. I shouldn't be motivated to invest in Bitcoin just because a politician has it in mind. But Incase those campaign promises becomes true at the end of the day, then it's still for the betterment (benefits) of everyone. Nobody is saying that bitcoin is relying on some political campaigns to make headlines or saying that without political endorsement of bitcoin by politicians that bitcoin will not keep breaking new heights, and setting records. No that's not the point, the picture I want you to see here is that bitcoin is gradually earning it's rightful place in the society, years ago there was nothing like politicians saying anything good about bitcoin, but today the story has changed, to the point that someone as big as Donald Trump is now building his political campaigns around bitcoin, saying some actual truth about bitcoin. Even though we can't actually be sure that he won't keep his promises if he wins the presidential election. But it is a win situation to the bitcoin community because bitcoin is gaining more grounds, and people who has been less concerned about bitcoin in the past, are now showing interest. People who probably must have not heard about bitcoin are now becoming aware of it. So either ways bitcoin is not losing here, rather it is gaining!!
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JayJuanGee
Legendary
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Self-Custody is a right. Say no to"Non-custodial"
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July 23, 2024, 02:28:07 AM |
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People who panic are not investors but they are traders.
People who are slow and full of hope are not loyal or long term investors but they are traders.
These two characteristics can be ignored in each of you.
Just buy BTC and save it until you have children and grandchildren because Bitcoin investment is very good for the long term.
I prefer the old style of investors who accumulate bitcoins gradually but they don't sell them at every recorded ATH. why don't they sell because they know bitcoin is very limited. Whatever happens, buy bitcoin even if it's $10, do it gradually.
Do you know that bitcoin investment is risk, what I will tell you is that don't bag your eggs with one bag, There are something you don't understand, everything around us, (both the ones we see and the ones we don't see) are risky, so if one can risk his life and travel by flight for hours, then what is money that one can't risk? The truth is there are risk we can take and ones we can't take, and it's for the person to make his/her choice, if you have other options for investment it's fine by you. We don't have to put all eggs in one bag and it's not advised to keep one on altcoins/shitcoins because they are not like Bitcoin, and IMO they shitcoins/altcoins are behind Bitcoin so when Bitcoin raises they also follow and many of them can't sustain price fluctuations for long so they give up and those who put money of them will lose. you can invest in bitcoin for long-term but is not something that you will invest for your future children because its clear that nobody knows if the technology of bitcoin blockchain will fade off one day,
What makes you think so? I have few questions for ya. - Do you think that technology will stop becoming more advanced?
- Will the internet crash?
If your answers are no which means the technology of Bitcoin will probably not not fade away because Bitcoin is not controlled by anyone. If people can save fiat all their money on their bank account what makes us think we can't invest on Bitcoin? Truth be told that technology is also what's holding the world today and if anything happens to technology we can't also access the money in our fair Bank. And as technology can't fade away Bitcoin will not fade away. To me it seems the idea of risk management and diversification frequently gets mixed up or jumbled together, and many of the active participants in this thread already realize that the creation of solid cash management practices helps with risk management and even provides some level of diversification at least in the sense of NOT having all of our eggs in one basket, yet at the same time, newbie investors are likely NOT working with a lot of capital, so they have to start their investment journey with small amounts and likely ONLY one investment, and realizing that it could take one or two years, just to get strong cash backup systems in place should also justify why there might not really be much of any ability to invest in more than one thing at a time, and in this case, and for the purpose of this thread we are referring to investing into bitcoin. Maybe at some point there will start to be (or feel) some level of luxury to start to add other investments besides bitcoin and cash, but those likely are not core investment strategies for building the investment (bitcoin) into some kind of a meaningful amount. Another point is that any investment is coming from disposable income, and by definition should be money that we are ready, willing and able to lose if the bitcoin market turns against us. Yeah, no one wants to lose money, but we should not be going into any investment, whether bitcoin or otherwise, expecting that the investment has 100% odds of performing in our favor. Accordingly, we are not using money that we need and we are using extra money to buy our bitcoin, so when we commit to our bitcoin investment for 4-10 years or longer, we should be able to appreciate that the "or longer" portion of that could be 20, 30, 40 years or it could be that we never get our investment principle back. I am not trying to be glib about this or even to suggest that bitcoin is a bad investment, since many here already likely appreciate that I believe it to be amongst the best of places to put any extra value, and it may well even be the best or the only place (beyond making sure that you have dollars/or your local fiat for expenses), so there may well not be any kind of need to diversify, yet I also get the sense that many folks are likely going to start to feel some needs to diversify beyond just having cash and bitcoin, yet I cannot say exactly when those preferences are going to trigger since some folks may want to start to diversify beyond merely bitcoin and cash after they have around 6 months of living cash of bitcoin in their bitcoin investment (and maybe they have somewhere between 3-6 months in cash with 3 months being in their emergency fund and the other 0-3 months could be in the emergency fund too or it might be in reserves and/or floating funds)... .. and surely I am also a fairly Big advocate of not overly valuating the value of your bitcoin, so it seems to me when making these kinds of bitcoin stash valuations, the use of the 200-WMA seems way better than using spot price in order to valuate what you have. and so it there might be desires to go beyond cash and bitcoin, then there are likely ways to be creative in terms of considering that diversification to merely be various alternative ways of holding cash and/or emergency funds to so that you don't ever have to sell your bitcoin, except completely under your own terms.. so whether you start to buy stocks, bonds, properties, commodities or other forms of cash / cash equivalents, those are likely going to be personal choices and maybe no rush to add them slowly while continuing to pay attention to how the cash and BTC funds balance out the other investments. Some folks might not start to feel any need to diversify beyond bitcoin and cash until maybe their bitcoin holdings goes above a couple years or more of their living expense levels.
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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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Btcdeybodi
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July 23, 2024, 04:06:06 AM |
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Previously I said think about what you decide, that way you will have a strong mentality to face anything in bitcoin investment. People misunderstand and they are sucked in by fud, so don't fall for the talk that says bad things about Bitcoin.
I have observed that Bitcoin is very strong with a market cap that continues to grow, so from here you have to think that every day or every quarter new people continue to join Bitcoin in the sense that they trust Bitcoin more than others.
For that reason, don't misunderstand me because I said think before making a decision. So, that way, long-term planning will run more smoothly without any burden on your mind. Just keep buying and holding, especially since Trump supports Bitcoin, which is the first step for us to see Bitcoin reach $100k.
I would be careful if you are expecting bitcoin's performance or long-term viability is connected with politics. Sure, there can be some advantages in terms of having politicians seeming to be on the side of bitcoin rather than fighting against it, but any of us might also get mislead if we start to place too much faith in politicians and/or various regulatory outcomes.. whether we are referring to the USA or to El Salvador or any other country. Sure it is nice that some governments (or some politicians) are not fighting against bitcoin, yet bitcoin surely is not dependent upon politicians and regulations and there might even be some conflicts of interest or even some ways in which politicians and/or regulations that appear to be aligned with bitcoin are not aligned with bitcoin.. which surely many of us even have trouble agreeing upon what is bitcoin or what are the various purposes (and/or utility aspects) of bitcoin, ....so how would we necessarily expect that either politicians or the various regulation that they might propose or support would necessarily be aligned with what might be good for bitcoin, including good for regular and normal people rather than some of the interests that might be pumping certain agendas that may or may not line up well with interests of normal people.. aka normies... including but not limited to self-sovereignty and empowerment that may not even be the same as number go up, which even number go up helps incumbent bitcoiners, but might not be in the interest of good people who happen to be no coiners, low coiners and/or pre-coiners (and might not even know or appreciate that they are precoiners)... in other words, careful hitching your wagon too much to any politician and/or regulatory stance that may well be ambiguous and potentially in conflict with some of bitcoin's already existing qualities. . I have been staring at your reply for a while now, not knowing what exactly to write, as you've said it all. Though, they are lots of things on my mind, but I will try as much to make contributions without been to harsh towards politics(because am not a fan). Firstly, I am not a fan of politics. I really don't know why others still show interest, but I personally find it difficult to believe in all their say, or even bother to listen to what they have to say. The truth is, politics and Bitcoin are two different things that might not work in hand. My reason for saying this is because: Bitcoin happens to be very transparent and open. it is a system of decentralization where power belongs to everyone who is connected. This is unlike politics where power belongs to a certain group of people that categories themselves as same party members or dictators. Secondly, I am not motivated to invest in Bitcoin because a political candidate is showing interest or has made several promises. I am making my own investment for my own benefits. I think we should be cautious especially when someone begins to make too many promises (with Bitcoin) just to get the interest and vote of the people. I don't support anyone, but I think when promises like this keep coming, then not all would be fulfilled at the later end, leading to so many disappointment. And lastly, the past and present government(politicians) has already caused enough disappointment by failing to do the needful for the benefits of their nation. Making promises with Bitcoin isn't a green light for me at all. I shouldn't be motivated to invest in Bitcoin just because a politician has it in mind. But Incase those campaign promises becomes true at the end of the day, then it's still for the betterment (benefits) of everyone. Nobody is saying that bitcoin is relying on some political campaigns to make headlines or saying that without political endorsement of bitcoin by politicians that bitcoin will not keep breaking new heights, and setting records. No that's not the point, the picture I want you to see here is that bitcoin is gradually earning it's rightful place in the society, years ago there was nothing like politicians saying anything good about bitcoin, but today the story has changed, to the point that someone as big as Donald Trump is now building his political campaigns around bitcoin, saying some actual truth about bitcoin. Even though we can't actually be sure that he won't keep his promises if he wins the presidential election. But it is a win situation to the bitcoin community because bitcoin is gaining more grounds, and people who has been less concerned about bitcoin in the past, are now showing interest. People who probably must have not heard about bitcoin are now becoming aware of it. So either ways bitcoin is not losing here, rather it is gaining!! You've made some good points here because ever since the news about Donald Trump acknowledging Bitcoin in some of his speech has also made the price of Bitcoin experience some significant gains lately since the price movements relies on several factors which means for the fact that Donald Trump who was a previous critics of Bitcoin is now coming open to say positive words about Bitcoin even to the extent of having the intentions of declaring bitcoin as a strategic reserved asset as seen in this link https://www.investing.com/news/cryptocurrency-news/trump-potentially-declaring-bitcoin-a-strategic-reserve-asset-seen-as-a-watershed-moment-3525595 and even chooses a pro-bitcoin activist J.D Vance as his V.C so all this are some of that factors that helps to boost the awareness of Bitcoin the more so I quite understand the angle you are talking about because it's not as if Bitcoin depends on political influence but they are part of what increases the fame of Bitcoin and more people begins to consider to invest in it.
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Moreno233
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You've made some good points here because ever since the news about Donald Trump acknowledging Bitcoin in some of his speech has also made the price of Bitcoin experience some significant gains lately since the price movements relies on several factors which means for the fact that Donald Trump who was a previous critics of Bitcoin is now coming open to say positive words about Bitcoin even to the extent of having the intentions of declaring bitcoin as a strategic reserved asset as seen in this link https://www.investing.com/news/cryptocurrency-news/trump-potentially-declaring-bitcoin-a-strategic-reserve-asset-seen-as-a-watershed-moment-3525595 and even chooses a pro-bitcoin activist J.D Vance as his V.C so all this are some of that factors that helps to boost the awareness of Bitcoin the more so I quite understand the angle you are talking about because it's not as if Bitcoin depends on political influence but they are part of what increases the fame of Bitcoin and more people begins to consider to invest in it. I think people are not really paying attention to how much global politics can influence the price movement of some assets including Bitcoin. It may not be all that drives the market but market do respond to those news due to market speculations and uncertainties. So political news impact on the market but usually dissipate quickly most times, hence the reason I consider it as a tool for short term traders. As a long term investor, the news might not make much difference to us unless when we position ourselves to take advantage of whatever the market throw at us after the news. For instance, if the market dips after the news release, it becomes an opportunity to buy more but if the market pumped after the news, it becomes an opportunity to hold tight. So we can learn to make good use of the news but it is definitely not a time to panic or sell.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | | | [ | 1,000x LEVERAGE | ] | [ | . COMPETITIVE FEES | ] | [ | INSTANT EXECUTION | ] | | | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ | ████████████████████████████████████████████████████████ . TRADE NOW . ████████████████████████████████████████████████████████ | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ |
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Hewlet
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July 23, 2024, 05:49:47 AM |
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You've made some good points here because ever since the news about Donald Trump acknowledging Bitcoin in some of his speech has also made the price of Bitcoin experience some significant gains lately since the price movements relies on several factors which means for the fact that Donald Trump who was a previous critics of Bitcoin is now coming open to say positive words about Bitcoin even to the extent of having the intentions of declaring bitcoin as a strategic reserved asset as seen in this link https://www.investing.com/news/cryptocurrency-news/trump-potentially-declaring-bitcoin-a-strategic-reserve-asset-seen-as-a-watershed-moment-3525595 and even chooses a pro-bitcoin activist J.D Vance as his V.C so all this are some of that factors that helps to boost the awareness of Bitcoin the more so I quite understand the angle you are talking about because it's not as if Bitcoin depends on political influence but they are part of what increases the fame of Bitcoin and more people begins to consider to invest in it. I think people are not really paying attention to how much global politics can influence the price movement of some assets including Bitcoin. It may not be all that drives the market but market do respond to those news due to market speculations and uncertainties. So political news impact on the market but usually dissipate quickly most times, hence the reason I consider it as a tool for short term traders. while global politics works hand in hand with demand and supply which is the core factor responsible for Bitcoin price movement, it's worthy of note that it's not just about global politics but global politics that affects Bitcoin in a way. If Trump was neutral about his view on Bitcoin, it wouldn't be looked at as a big deal that his chances of winning election is becoming high and that it will have an effect on Bitcoin price in some way. We've practically seen a lot of ripples and speculation going around as a result of Trump's view on Bitcoin but like you've said already, it's just a big thing for traders and individual that are short termed in Thier investment. If you're a long term HODLer, along your accumilation stages, a whole lot of event will play out that will affect the whole demand and supply framework which has been what's responsible for the bulls and the correction we've been seeing on a regular bases but they are all combined recipes that comes with Bitcoin accumilation. Regardless of the effect of the current global politics, you still continue to DCA and never get tempted to sell too soon even when it causes us to experience a new ATH sooner that expected. As a long term investor, the news might not make much difference to us unless when we position ourselves to take advantage of whatever the market throw at us after the news. For instance, if the market dips after the news release, it becomes an opportunity to buy more but if the market pumped after the news, it becomes an opportunity to hold tight. So we can learn to make good use of the news but it is definitely not a time to panic or sell.
so in essence, Global politics will come and go and it effect might be visible or not but the consistency on our accumilation will always remain.
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wxa7115
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July 23, 2024, 09:58:56 AM |
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I wish I can lay hands on a post that suggest that the way to becoming rich is to master one skill (can be a business, product, act, practice etc) and be efficient in it. The emphasis is on one skill and if you study the rich people of the world, most of them became rich through one product and are known for such product. Just take a mental picture of this, you will understand better. In my state, the richest man in one of the neighborhood deals on umbrella. He is richer than people in oil and gas and even politics but no one could imagine that an umbrella dealer who ship in several containers of umbrella could be that rich. What I'm saying in essence is that people should start focusing on bitcoin instead of this diversification of a thing that can turn out to be a big distraction.
Bitcoin is enough for us here, if we master the act of buying and holding, we might be building wealth that we will be remembered for by generations to come. Imagine when bitcoin hit $1 million, how many people would have been made. It may seem impossible but it will happen, just that no one know when.
I think that it was Keynes that thought that it was better for people to specialize in an economic activity, earn money that way and then use that money to buy whatever they may need, and I agree on principle with that view, since the only successful trader I know does exactly that, as he trades Google and only Google stock. And while such specialization may seem to take things too far, the guy can recite all kind of facts about Google from memory that I doubt even some of its executives could do so, so by concentrating all his efforts towards a single stock he has been able to obtain the success he is looking for, which is not too different from what many forum members here do, which concentrate exclusively on bitcoin and nothing else.
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Roseline492
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July 23, 2024, 10:02:07 AM Merited by JayJuanGee (1) |
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while global politics works hand in hand with demand and supply which is the core factor responsible for Bitcoin price movement,
Actually I want you to understand that the growth of Bitcoin has never for once depend on the politics, so perhaps I wonder why you would think that global politics is one of the factors behind the growth of Bitcoin, however may I remind you that Bitcoin has been doing very well right from the beginning even when most people were against it, so perhaps I wonder why all of a sudden because of Donald Trump statement about Bitcoin almost everybody began to conclude that the growth of Bitcoin depends on politics, actually I totally disagree with that, though the only good thing about it is that after what he said concerning Bitcoin people who were skeptical about Bitcoin will now realize that Bitcoin is the only way and also change the wrong mindset most people normally have on Bitcoin investment.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | | | [ | 1,000x LEVERAGE | ] | [ | . COMPETITIVE FEES | ] | [ | INSTANT EXECUTION | ] | | | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ | ████████████████████████████████████████████████████████ . TRADE NOW . ████████████████████████████████████████████████████████ | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ |
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Kliss
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July 23, 2024, 12:04:19 PM Last edit: July 23, 2024, 12:56:50 PM by Kliss |
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while global politics works hand in hand with demand and supply which is the core factor responsible for Bitcoin price movement,
Actually I want you to understand that the growth of Bitcoin has never for once depend on the politics, so perhaps I wonder why you would think that global politics is one of the factors behind the growth of Bitcoin, however may I remind you that Bitcoin has been doing very well right from the beginning even when most people were against it, so perhaps I wonder why all of a sudden because of Donald Trump statement about Bitcoin almost everybody began to conclude that the growth of Bitcoin depends on politics, actually I totally disagree with that, though the only good thing about it is that after what he said concerning Bitcoin people who were skeptical about Bitcoin will now realize that Bitcoin is the only way and also change the wrong mindset most people normally have on Bitcoin investment. The growth of Bitcoin doesn't depend on politics, no doubt to that fact. But in regards to this context or development, what we should picture is that America is influential and most powerful nation globally in (politics, Economically etc.) An Aspirant during their campaigns mentioning or emphasizing on bitcoin simply shows how important and relevant Bitcoin is, it's a boost to the bitcoin community. So many countries looks up to US Economically, there are large percentage (%) of world population who haven't adopted bitcoin but the development can trigger adoption of bitcoin especially nations, organisations and individuals etc who looks up to US Economically. Bitcoin is still growing and their is more room for expansion, so when prominent nation like US discusses bitcoin it can have impact on adoption and growth globally. Perhaps what @Onyeeze failed to understand is that his theory of not having all the eggs in one bag shouldn't reflect on Bitcoin investment because I don't think there is any other investment more better than Bitcoin investment in my mind now in terms of diversification, however from his statement he seem to have been having a doubt about the future of the technology behind Bitcoin, however on the contrary instead of the technology to decline it will even improve the more as time goes by so he should remove his mindset about the technology because Bitcoin can never be affected anyway, so actually if this is the reason why he is having a double thought about Bitcoin investment I would suggest he start accumulating Bitcoin now because if he did not he will surely regret in the future.
“Behold, the fool saith, "Put not all thine eggs in the one basket" - which is but a matter of saying, "Scatter your money and your attention"; but the wise man saith, "Pull all your eggs in the one basket and - WATCH THAT BASKET." - Pudd'nhead Wilson's Calendar”Author ― Mark Twain, Pudd'nhead WilsonHonestly, i think diversification has to do with one's financial level at every stage in life. If a bitcoin investor have enough money to diversify then he should do so, but prioritizing his Bitcoin investment should be a necessity. At some stage in life (especially to the grownups within the age of 50 and above) they might be more scared to diversify because it will be harder to recover if the investment does not turn out successful. They rather choose to protect their wealth, by so doing sticking to just one investment that has been working properly for them. But a young man in his 20s can choose to try other investments as long as he is capable of doing so if it doesn't go out well, he has more time to come back up. But I won't want to take that chance. Concentrating on one investment builds wealth and I have tried it and it worked. If I am to diversify then it is to protect that wealth but I will put in my money into a safer asset. I'm inclined to your emphasis @Dailyscript, it all about mastering in a specific investment rather than diversifying when a specific purpose is not yet achieved. It's important to to focus on managing one resource, keeping close eye and managing such investment effectively. Our focus in Bitcoin in bitcoin investment, is to accumulate steadily and to hit a satisfactory level in our investment . Thinking about diversification as a newbie or not having a solid finance can be of distraction, so why not focus on achieving a specific investment purpose.
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sotelorene
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Eloncoin.org - Mars, here we come!
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July 23, 2024, 03:38:11 PM |
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while global politics works hand in hand with demand and supply which is the core factor responsible for Bitcoin price movement,
Actually I want you to understand that the growth of Bitcoin has never for once depend on the politics, so perhaps I wonder why you would think that global politics is one of the factors behind the growth of Bitcoin, however may I remind you that Bitcoin has been doing very well right from the beginning even when most people were against it, so perhaps I wonder why all of a sudden because of Donald Trump statement about Bitcoin almost everybody began to conclude that the growth of Bitcoin depends on politics, actually I totally disagree with that, though the only good thing about it is that after what he said concerning Bitcoin people who were skeptical about Bitcoin will now realize that Bitcoin is the only way and also change the wrong mindset most people normally have on Bitcoin investment. Exactly, Bitcoin has been doing well before now and even with or without what Donald trump said Bitcoin will still do well I could remember years back when same Donald trump was saying bad about Bitcoin yet it doesn't change anything and now he is saying he want the remaining Bitcoin to be made in USA which will or may not be possible or happen and I want to believe that he is up to something but people are yet to find out and remember he's a politician and he would've probably map out things I mean this could be a strategy for him who knows...
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Pi-network314159
Sr. Member
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[btc] or nothing more 📈💹 up we go
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July 23, 2024, 03:44:45 PM |
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Nobody is saying that bitcoin is relying on some political campaigns to make headlines or saying that without political endorsement of bitcoin by politicians that bitcoin will not keep breaking new heights, and setting records. No that's not the point, the picture I want you to see here is that bitcoin is gradually earning it's rightful place in the society, years ago there was nothing like politicians saying anything good about bitcoin, but today the story has changed, to the point that someone as big as Donald Trump is now building his political campaigns around bitcoin, saying some actual truth about bitcoin. Even though we can't actually be sure that he won't keep his promises if he wins the presidential election. But it is a win situation to the bitcoin community because bitcoin is gaining more grounds, and people who has been less concerned about bitcoin in the past, are now showing interest. People who probably must have not heard about bitcoin are now becoming aware of it. So either ways bitcoin is not losing here, rather it is gaining!!
You've made some good points here because ever since the news about Donald Trump acknowledging Bitcoin in some of his speech has also made the price of Bitcoin experience some significant gains lately since the price movements relies on several factors which means for the fact that Donald Trump who was a previous critics of Bitcoin is now coming open to say positive words about Bitcoin even to the extent of having the intentions of declaring bitcoin as a strategic reserved asset as seen in this link https://www.investing.com/news/cryptocurrency-news/trump-potentially-declaring-bitcoin-a-strategic-reserve-asset-seen-as-a-watershed-moment-3525595 and even chooses a pro-bitcoin activist J.D Vance as his V.C so all this are some of that factors that helps to boost the awareness of Bitcoin the more so I quite understand the angle you are talking about because it's not as if Bitcoin depends on political influence but they are part of what increases the fame of Bitcoin and more people begins to consider to invest in it. politics has influence in bitcoin growth don't say it as if you are not sure because if you check properly the factors that help to increase or decrease bitcoin growth, you will come across something like 1 demand and supply 2 market sentiment 3 rumor 4 media and news 5 regulation and the number 5 which is regulation, falls under government or politics that affect bitcoin. in which ever way you guys put it politics have a role to play in bitcoin growth not saying it as if you are not sure. Donald Trump knows truely that he can use political power to influence the people to vote for him because he knows people love bitcoin. and people believe that if Donald Trump is elected he will do more better this time in making bitcoin popular and more people would love to invest in bitcoin and increase the growth of bitcoin. and more people will develop interest and adopt bitcoin massively. which Donald Trump would have done when he was in power maybe he reserved bitcoin interest to use it against the next election to capture the minds of other to vote him because he knows more people are bitcoin fan. and when he preach about the father "bitcoin"the children will have no option than to follow. you can see that politics has influence on bitcoin. not only politic, business tycon and celebrity and other influencers has a role to play in bitcoin growth. just like I see the footballer Messi as an ambassador of bitget exchange. that will make most of his fans to use that exchange. so anything is possible in bitcoin growth.
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Salahmu
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politics has influence in bitcoin growth don't say it as if you are not sure because if you check properly the factors that help to increase or decrease bitcoin growth, you will come across something like
Let me ask you a question, are you trying to say that the only reason why Bitcoin price has gone this far from beginning to this point is as a result of political influence?, let me tell you if politics had influence on Bitcoin from the beginning most government would actually influence there citizens to stop investing on it since they cannot control it, don't get me wrong I have nothing against politics but the idea most people are having about politics in contributing to the growth of Bitcoin is what I don't really understand, or are you saying that if there was no politics Bitcoin would not have gone this far?. 1 demand and supply 2 market sentiment 3 rumor 4 media and news 5 regulation
and the number 5 which is regulation, falls under government or politics that affect bitcoin. in which ever way you guys put it politics have a role to play in bitcoin growth not saying it as if you are not sure.
However even the five factors you believed has influence on Bitcoin growth actually had nothing to do with politics and also we know that market is all about demand and supply but in terms of media I don't think it has any serious effect on Bitcoin because Bitcoin is not any kind of coin that would possibly be manipulated by media influencers however on the aspect you mentioned Rumors I don't really understand what you meant by that.
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Pi-network314159
Sr. Member
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[btc] or nothing more 📈💹 up we go
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July 23, 2024, 05:19:24 PM |
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politics has influence in bitcoin growth don't say it as if you are not sure because if you check properly the factors that help to increase or decrease bitcoin growth, you will come across something like
Let me ask you a question, are you trying to say that the only reason why Bitcoin price has gone this far from beginning to this point is as a result of political influence?, let me tell you if politics had influence on Bitcoin from the beginning most government would actually influence there citizens to stop investing on it since they cannot control it, don't get me wrong I have nothing against politics but the idea most people are having about politics in contributing to the growth of Bitcoin is what I don't really understand, or are you saying that if there was no politics Bitcoin would not have gone this far?. 1 demand and supply 2 market sentiment 3 rumor 4 media and news 5 regulation
and the number 5 which is regulation, falls under government or politics that affect bitcoin. in which ever way you guys put it politics have a role to play in bitcoin growth not saying it as if you are not sure.
However even the five factors you believed has influence on Bitcoin growth actually had nothing to do with politics and also we know that market is all about demand and supply but in terms of media I don't think it has any serious effect on Bitcoin because Bitcoin is not any kind of coin that would possibly be manipulated by media influencers however on the aspect you mentioned Rumors I don't really understand what you meant by that. You are misunderstanding me @salamuh what I said is that politics has influence in bitcoin growth both increase and decrease but I did not say it's only politics that made bitcoin go this far, you can recheck my statement. I made references to others factors that increases the growth of bitcoin but I was saying in reference to the conversation between @jutsbilwith and @btcdeybody, but from your statement it make me understand that you don't know that the factored I mentioned are factors that cause increase and decrease in bitcoin you can take a look at this link and lean more.
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Justbillywitt
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 23, 2024, 05:34:55 PM |
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politics has influence in bitcoin growth don't say it as if you are not sure because if you check properly the factors that help to increase or decrease bitcoin growth, you will come across something like
Let me ask you a question, are you trying to say that the only reason why Bitcoin price has gone this far from beginning to this point is as a result of political influence?, let me tell you if politics had influence on Bitcoin from the beginning most government would actually influence there citizens to stop investing on it since they cannot control it, don't get me wrong I have nothing against politics but the idea most people are having about politics in contributing to the growth of Bitcoin is what I don't really understand, or are you saying that if there was no politics Bitcoin would not have gone this far?. 1 demand and supply 2 market sentiment 3 rumor 4 media and news 5 regulation
and the number 5 which is regulation, falls under government or politics that affect bitcoin. in which ever way you guys put it politics have a role to play in bitcoin growth not saying it as if you are not sure.
However even the five factors you believed has influence on Bitcoin growth actually had nothing to do with politics and also we know that market is all about demand and supply but in terms of media I don't think it has any serious effect on Bitcoin because Bitcoin is not any kind of coin that would possibly be manipulated by media influencers however on the aspect you mentioned Rumors I don't really understand what you meant by that. When you hear of regulations what comes into your mind? If you don't know let me tell you the answers is government authorities. And how does new government comes into office? It is by political process. Let me tell you if there are strict government regulations in every country against bitcoin, it will hit hard on the bitcoin community. Even though it won't halt the full operation of bitcoin, it will instigate fear in the minds of majority and there will be a declined interest in bitcoin investment, because nobody would want a total clamp down from their government. You have seen some countries that has strict regulations on bitcoin, tell me how robust is bitcoin activities in those countries and compare it to countries that are bitcoin friendly like El Salvador whose government has made bitcoin a legal tender. You will see that there is a clear difference, that's how far political regulations can influence bitcoin investment. Now let's narrow it down to the point where government at all levels around the world recognise bitcoin as legal tender and right to self custody, don't you agree that more investor will come in? And the demand and supply you are talking about will be more intense, and it will have an impact on bitcoin pricing.
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AirtelBuzz
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July 23, 2024, 05:45:49 PM |
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Investing in Bitcoin is not risk free especially to investors who do not invest appropriately with the right approach and strategy, and also not sticking to their investment plans (long-term).
I disagree with your statement partly because long term investing is not risk free. Investing in Bitcoin or other coins certainly involves risk. If you are a professional investor then you are used to taking risks as the price of any currency is not always the same and fluctuates constantly. This is the picture we see in the cryptocurrency market. However, although the investment involves risk, the level of risk in Bitcoin investment is relatively low. The risk level of Bitcoin investment is low because investors buy and hold the currency for a long period of time by buying and accumulating small amounts in what we call the Dollar Cost Averaging method. If you want to earn substantial profits, investing in this method requires you to plan to hold the investment for a long period of time.
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