Reason why I put all my money in Bitcoin as a newbie

[Ojima-ojo]

Am still new in this space both in cryptocurrency and in this forum and seeing what is happening even to stable coins lately make me decide to put all my investment funds into Bitcoin since Bitcoin has never crashed or a billion coins getting minted out of no we're and dump into the market just like Luna tereUSTD did, so for your peace of mind I advise newbies to rely only on highly decentralized crypto Bitcoin. Until you learn enough to decide which risk to take and which not to.

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[hatshepsut93]

Putting literally all your money into Bitcoin is not a good idea, not in a sense that you should buy some alts, but in a sense that you should have other investments and free cash. Rule #1 is to never invest what you can't afford to lose, and no one can afford to lose all their money.

And as for alts, no one should be touching them, newbie or not. Fundamentally they have no value.

[_act_]

Putting literally all your money into Bitcoin is not a good idea, not in a sense that you should buy some alts, but in a sense that you should have other investments and free cash. Rule #1 is to never invest what you can't afford to lose, and no one can afford to lose all their money.

Free cash? You mean fiat, he can be able to convert some bitcoin to cash if he wants, I can easily convert bitcoin to cash if I want. Also he can easily convert bitcoin if he wants to invest in other assets like gold. I do not see anything bad to leave his asset in bitcoin but it will be good for him to know how the price of bitcoin can be volatile but leading to all-time-high again.

And as for alts, no one should be touching them, newbie or not. Fundamentally they have no value.

Some altcoins have value but just that we do not know the next that will follow luna, people should only risk what they can lose on altcoins, that is how I see altcoins.

[hatshepsut93]

Free cash? You mean fiat, he can be able to convert some bitcoin to cash if he wants, I can easily convert bitcoin to cash if I want. Also he can easily convert bitcoin if he wants to invest in other assets like gold. I do not see anything bad to leave his asset in bitcoin but it will be good for him to know how the price of bitcoin can be volatile but leading to all-time-high again.

Yes, it's stupid to not own any fiat. Any investment can crash, especially Bitcoin, with which it happens regularly, so converting it to fiat might be forced to be at a loss. A strong fiat currency like USD and Euro is not going to lose its value overnight. Inflation is predictable.

Some altcoins have value but just that we do not know the next that will follow luna, people should only risk what they can lose on altcoins, that is how I see altcoins.

Risks should be managed in a way that a potential reward is higher than the downside. With altcoins there's only downsides. They have no future, no one uses them, no one will use them. In 10 years globally nothing changed with altcoins - they have no adoption.

[Hypnosis00]

Am still new in this space both in cryptocurrency and in this forum and seeing what is happening even to stable coins lately make me decide to put all my investment funds into Bitcoin since Bitcoin has never crashed or a billion coins getting minted out of no we're and dump into the market just like Luna tereUSTD did, so for your peace of mind I advise newbies to rely only on highly decentralized crypto Bitcoin. Until you learn enough to decide which risk to take and which not to.

Your choice about Bitcoin is good but the idea of putting everything in a single coin or investment was not a smart move. I suggest for you split your funds to some altcoins, but not shitcoins. You can see a lot of potential altcoins, putting some chunks on them gives you some peace of mind that whatever happens to other investments you won't lose all your money, and they're still a way to help it recover.

As newbies, we need to widen and enhance our knowledge about crypto investment as there is no excuse for being not able to understand the risk.

[examplens]

Free cash? You mean fiat, he can be able to convert some bitcoin to cash if he wants, I can easily convert bitcoin to cash if I want. Also he can easily convert bitcoin if he wants to invest in other assets like gold. I do not see anything bad to leave his asset in bitcoin but it will be good for him to know how the price of bitcoin can be volatile but leading to all-time-high again.

Yes, it's stupid to not own any fiat. Any investment can crash, especially Bitcoin, with which it happens regularly, so converting it to fiat might be forced to be at a loss. A strong fiat currency like USD and Euro is not going to lose its value overnight. Inflation is predictable.

personally, I am no longer sure that the euro and the dollar are more stable than Bitcoin. I'm even in a big dilemma whether it's better to keep savings in Bitcoin than in Fiat. the strength of the euro has been much lower than just two years ago. (all triggered by the Covid crisis, now deepened by the war)
it would be very interesting to see some analysis of BTC vs FIAT in the last 2 or 3 years.

[_act_]

Yes, it's stupid to not own any fiat. Any investment can crash, especially Bitcoin, with which it happens regularly, so converting it to fiat might be forced to be at a loss. A strong fiat currency like USD and Euro is not going to lose its value overnight. Inflation is predictable.

What I just see is that it is ignorant of people that are leaving money in fiat because the government like to do one thing to fiat, to decrease its value. For spending, you are right, but I can not call it stupid, I will call it necessity because it is hard for some people to buy directly with bitcoin and they do not have option than to convert to fiat.

Risks should be managed in a way that a potential reward is higher than the downside. With altcoins there's only downsides. They have no future, no one uses them, no one will use them. In 10 years globally nothing changed with altcoins - they have no adoption.

I will agree to this, if I invest in altcoin and I am lucky and make profit, I will sell it for bitcoin, definitely.

personally, I am no longer sure that the euro and the dollar are more stable than Bitcoin. I'm even in a big dilemma whether it's better to keep savings in Bitcoin than in Fiat. the strength of the euro has been much lower than just two years ago. (all triggered by the Covid crisis, now deepened by the war)

To be sincere, bitcoin is a speculative asset, its price is volatile, but I understand your point, after long time, bitcoin price will have more value but fiat will have less value, which means you mean safe haven, not stable. For any fiat, what the amount of the fiat can buy today, it can no more buy it in 10 years more after, 10 years is even long, in 2 years especially in countries that have high inflation rate.

it would be very interesting to see some analysis of BTC vs FIAT in the last 2 or 3 years.

Next 2 or 3 years, I am expecting bitcoin to hit all-time-high above 100k.  

[sheenshane]

Bitcoin has never crashed or a billion coins getting minted out of no we're and dump into the market just like Luna tereUSTD did, so for your peace of mind I advise newbies to rely only on highly decentralized crypto Bitcoin. Until you learn enough to decide which risk to take and which not to.

Considering it was never crashed and turned the price to zero but you must understand the volatile nature of Bitcoin.  You didn't predict when the correction will occur and will it will pump, so the best thing that you can do is wait for the perfect opportunity to have a profit.  So my question now is, are you willing to wait for that perfect time that will come?  The comment above was right, invest only what you can afford, an amount that you're willing to spend, not the source of your daily need.

it would be very interesting to see some analysis of BTC vs FIAT in the last 2 or 3 years.

Next 2 or 3 years, I am expecting bitcoin to hit all-time-high above 100k. 

Or more than that, it will remain unpredictable.  But the price you've mentioned seems not possible, it could be also next year.

[Oluwa-btc]

Heard the saying about " All your eggs in one Basket " ? Huh ?
Mate! I think you should reconsider this for me, as diversification won't be a bad idea.
For long term purpose Bitcoin! For Profits making I'll say some alternative coins, but be sure of what you're delving into.
Asides Cryptocurrencies, there are others means you can put your racks Real Estate and some landed properties.
Don't chase quick money as you might get your ass Fvcked!!

[examplens]

Risks should be managed in a way that a potential reward is higher than the downside. With altcoins there's only downsides. They have no future, no one uses them, no one will use them. In 10 years globally nothing changed with altcoins - they have no adoption.

I will agree to this, if I invest in altcoin and I am lucky and make profit, I will sell it for bitcoin, definitely.

unlike Bitcoin, altcoin can make a 300% profit in a relatively short time. the same thing is the other way around in bear.

it would be very interesting to see some analysis of BTC vs FIAT in the last 2 or 3 years.

Next 2 or 3 years, I am expecting bitcoin to hit all-time-high above 100k. 

Or more than that, it will remain unpredictable.  But the price you've mentioned seems not possible, it could be also next year.

Just imagine, UKR/RUS war be over in next 6 months, how much investment will be needed to repair the damage, in addition, to a slight stabilization of the energy market. Bitcoin and crypto can be an ideal solution to make everything easier and faster. I would not exclude such a scenario.

[odolvlobo]

... since Bitcoin has never crashed ...

Bitcoin's price has crashed several times.

2011: 93% drop
2013: 70% drop
2013: 71% drop
2014: 78% drop
2018: 83% drop
2021: 54% drop
2022: 60% drop

[cryptoaddictchie]

Am still new in this space both in cryptocurrency and in this forum and seeing what is happening even to stable coins lately make me decide to put all my investment funds into Bitcoin since Bitcoin has never crashed or a billion coins getting minted out of no we're and dump into the market just like Luna tereUSTD did, so for your peace of mind I advise newbies to rely only on highly decentralized crypto Bitcoin. Until you learn enough to decide which risk to take and which not to.

Good choice but let me remind you that even bitcoin is decentralized dont hope for a no down scenario. Even its the number 1 coin it is still subject to risk and volatility. No project can even be safe, and even stablecoin arent see what happened to Ust and some stablecoin that shows depletion like dei. So its better to be cautious.

[lovesmayfamilis]

Am still new in this space

You yourself write that you are a beginner. Why do you advise everyone to invest in bitcoin so much? Did you make a profit? Have you heard the stories of people who also lost a lot during the bear market?

When advising all beginners to buy bitcoins, you should have good experience, having gone through both profits and losses. Otherwise, your beginners, believing you, and in the future, unable to withstand the proper time for growth, will begin to blame you for their losses. Feel free to tell the whole truth to people.

[acroman08]

Putting literally all your money into Bitcoin is not a good idea, not in a sense that you should buy some alts, but in a sense that you should have other investments and free cash. Rule #1 is to never invest what you can't afford to lose, and no one can afford to lose all their money.

And as for alts, no one should be touching them, newbie or not. Fundamentally they have no value.

yeah, true, that is the stupidest thing someone can do but when OP said "all my money" he probably meant his investment fund(which he mentioned in the original post), but yeah, it would be a lot smarter to also invest in other things and not just focus on one and don't ever think about touching shitcoins.

OP should probably need to clarify when he says "all my money" in the title.

[Renampun]

Am still new in this space both in cryptocurrency and in this forum and seeing what is happening even to stable coins lately make me decide to put all my investment funds into Bitcoin since Bitcoin has never crashed or a billion coins getting minted out of no we're and dump into the market just like Luna tereUSTD did, so for your peace of mind I advise newbies to rely only on highly decentralized crypto Bitcoin. Until you learn enough to decide which risk to take and which not to.

Bitcoin is one of the most trusted and safest crypto coins for everyone (not only newbie)...

until now Bitcoin is the only crypto asset that is decentralized and safe from rug pull and also scams. the identity of the satoshi (the creator of bitcoin) has never been revealed which makes Bitcoin very strong and reliable. centralized assets such as LUNA at any time can be rug pulled or delisted from the exchange, never buy LUNA.

[goaldigger]

Bitcoin is a good coin but you should still not put all your money to Bitcoin, that’s too risky and that is not the rule of investments here, diversification is still possible. Honestly, the incident with LUNA wakes up many hodlers because that is a sign that there’s no stable coin here at all and everything can dump in just a week and it can also happen to BTC, not a FUD but a more possible scenario. Bitcoin dumped so many times before, its just that investors are keep on coming back so be careful and don’t trust that much, better to take profit all the time.

[Jating]

Am still new in this space both in cryptocurrency and in this forum and seeing what is happening even to stable coins lately make me decide to put all my investment funds into Bitcoin since Bitcoin has never crashed or a billion coins getting minted out of no we're and dump into the market just like Luna tereUSTD did, so for your peace of mind I advise newbies to rely only on highly decentralized crypto Bitcoin. Until you learn enough to decide which risk to take and which not to.

Well good decision on your end, hopefully though, the money you put into bitcoin will not be withdraw in short amount of time because maybe instead of gaining some, you will lose short term. As for the Terra, well it's shitcoin anyways so we really don't trust those kind of projects long term and it really damage crypto space in this worsening situation after the covid-19 ripple effect globally.

[TravelMug]

Putting literally all your money into Bitcoin is not a good idea, not in a sense that you should buy some alts, but in a sense that you should have other investments and free cash. Rule #1 is to never invest what you can't afford to lose, and no one can afford to lose all their money.

Yes, I would tend to agree on this, at least in my case this is what I did early invest money that I can't afford to lose so I didn't profit that much. So I will just talk about experience and and say that it's not a good idea to put everything in one basket, just saying.

And as for alts, no one should be touching them, newbie or not. Fundamentally they have no value.

Maybe except Ethereum, but then again, it has it's own problem but at least the chance of the price going literally to 0 might be slim as compare to other altcoins.

[lornadane]

Am still new in this space both in cryptocurrency and in this forum and seeing what is happening even to stable coins lately make me decide to put all my investment funds into Bitcoin since Bitcoin has never crashed or a billion coins getting minted out of no we're and dump into the market just like Luna tereUSTD did, so for your peace of mind I advise newbies to rely only on highly decentralized crypto Bitcoin. Until you learn enough to decide which risk to take and which not to.

Bitcoin is one of the most trusted and safest crypto coins for everyone (not only newbie)...

until now Bitcoin is the only crypto asset that is decentralized and safe from rug pull and also scams. the identity of the satoshi (the creator of bitcoin) has never been revealed which makes Bitcoin very strong and reliable. centralized assets such as LUNA at any time can be rug pulled or delisted from the exchange, never buy LUNA.

Yes many of our friends have become victims because they have bought a lot of Luna.
Even though it is true that bitcoin is the right coin for us to invest in the short or long term, at this time I am still hesitant to buy it because the market is still signaling that there will be another decline.

[Wexnident]

Probably don't do that? If it was solely for crypto investments portfolio then I guess it's okay but if it's overall investments then you should really widen your portfolio and start investing in say, stocks or others. It isn't really a great idea to invest only on one asset/investment, even if we do consider how good of a project said the investment is. As for altcoin investment, you can try investing on them but never let it stay for too long. Most altcoins are carried by hype so once a certain period passes, it just goes and buries itself down to the ground.