How true is this statement?

[Godlovesyou]

Wicked said! Lol, that's someone's name, he said the longer you use bitcoin as your unit of account, the more you begin to realize that it doesn't make sense to make any long term investments with your bitcoin savings...not even in some the best performing stocks from the past few years. They're all down in terms of bitcoin.

How true is this statement? I thought bitcoin wallet is best for storing long term investment, since no physical companies are to be trusted 100%, people uses bitcoin wallet to established good investment plans but seeing lead to ask questions of why and how true, which means no where is safe for life investment.

[odolvlobo]

... They're all down in terms of bitcoin.

How true is this statement?

It is true. However, that does not mean they will always be down in terms of bitcoin.

[cryptoaddictchie]

How true is this statement? I thought bitcoin wallet is best for storing long term investment, since no physical companies are to be trusted 100%, people uses bitcoin wallet to established good investment plans but seeing lead to ask questions of why and how true, which means no where is safe for life investment.

Yes provided you only store bitcoin with that since its only supported bitcoin and not other tokens and coins. It is also safe if you protect it from possible danger or hack. Cause even some might get compromise if not secured properly or been affected by virus.

[Maus0728]

he said the longer you use bitcoin as your unit of account, the more you begin to realize that it doesn't make sense to make any long term investments with your bitcoin savings...not even in some the best performing stocks from the past few years. They're all down in terms of bitcoin.

Who claimed Bitcoin was only used for speculative purposes? This person despises bitcoin because they are either uninformed or do not see Bitcoin's actual use case, which is the transfer of money without borders and with less intermediary concerns.

I don't care about whatever issues or nonsense they have with bitcoin as long as I can do anything I want with my money without worrying about an entity freezing or cutting what I've earned and I can make transactions with people who I have no idea where they are in the world. Remind them that bitcoin is multifaceted asset that relates to different knowledge areas and not just some tool to grow their wealth in an instant.

[ImThour]

Bitcoin has an intrinsic value and with that value comes the power of utilization. In my opinion, it totally depends from person to person and their way to use technology.
In the end, Bitcoin is just a blockchain-based currency that provides the freedom of being your own bank rather than using the government money so-called dollar.

I am sure as Simpson predicted, the dollar will not exist in the coming years... maybe paper money will for sure be gone in 10 years from now. I can be wrong too lol.
People from African countries are using Bitcoin to save their money from inflation and people from America are using it as gold, as I mentioned earlier, depending on person to person and their current financial situation.

If you have millions, you will see degen longing/shorting bitcoin worth millions and getting rekt so that also makes it a gambling currency. 

The only issue with it is that it take ages to get a confirmation on your deposit or withdrawal, without taproot it will not be able to grow and currency like Ethereum with lower gas fee will be future just like how electric vehicles are replacing petrol cars.

[Z390]

Ultimately, it's a free world. For me, Bitcoin is a good long-term investment, and nothing can change my mind.

If you do a blockchain scan, you will find thousands of crypto whales wallet addresses that have been holding millions of dollars in the same wallet for years.

Holding coins for the long term doesn't make your wallet weak or something, if you don't do anything stupid your coins will be where you keep them, all you need do to is keep your private keys safe.

Have you still not figured it out or do you still have doubts? Invest in a hardware wallet, it's the safest option.

[348Judah]

Wicked said! Lol, that's someone's name, he said the longer you use bitcoin as your unit of account, the more you begin to realize that it doesn't make sense to make any long term investments with your bitcoin savings...not even in some the best performing stocks from the past few years. They're all down in terms of bitcoin.

That was his own believe and approach towards bitcoin, which doesn't mean it was tge reality in it, bitcoin can be lost, hacked or even go highly volatile, but when you understand all this and how to avoid them, you can never fall a victim, now how do you ensure you don't end up with bad experience, avoid centralized exchanges, secure your private keys, buy the dip and hodl, make research about everything before starting, don't believe in everything you read online except you reconfirm it's true.

[Poker Player]

As odolvlobo says, the performance of past investments won't necessarily repeat indefinitely in the future.

If we knew with certainty that Bitcoin would outperform any other financial asset it would make sense to invest 100% of our net worth in Bitcoin, and there are people on the forum who do, if not 100% then an approximate percentage.

Being a little more cautious we can apply a principle of diversification and apart from investing in Bitcoin, have a house paid for or on the way to paying for it, having equity on it, and then you can invest a little in other sectors to taste, such as commodities, individual stocks or index funds such as the S&P 500.

[Agbe]

Op the information the person gave to you is not sacrosanct. It is misleading. And your first paragraph of the thread is not clear for some people. Bitcoin wallet is only for bitcoin and you can store bitcoin there for thousand of years so I don't know where you got your information that there is no place is safe for bitcoin Investment. Internet is like a community on it's own and everyone has their door with padlocks which are your accounts and passwords plus wallet and when your password is leaked out then definitely you be wipeout everything in the wallet so that is why you are asked to write down your keys and hide it in a safe place.

[tabas]

the longer you use bitcoin as your unit of account, the more you begin to realize that it doesn't make sense to make any long term investments with your bitcoin savings.

This does make sense to me because you don't want to spend your bitcoin with another investment as bitcoin itself is your actual long term investment already. But this depends if you're willing to lose that part of your holding for something else.

not even in some the best performing stocks from the past few years. They're all down in terms of bitcoin.

Well, it's the thought that counts but honestly I guess that the majority will agree to that because bitcoin is considered as the best performing asset within just a short range and period of time. But you'll never know if some tech stocks will skyrocket and more than the gain that bitcoin will and does.

[..] I thought bitcoin wallet is best for storing long term investment, since no physical companies are to be trusted 100%, people uses bitcoin wallet to established good investment plans but seeing lead to ask questions of why and how true, which means no where is safe for life investment.

Bitcoin wallet is for bitcoin and bitcoin is what we're considering as the best long term investment. And if the worry is all about the safety of the bitcoin that you're keeping, there are a lot of ways to protect yourself from such worries because all you need is to be educated and aware of the possible threats that may come to you.

[Viscore]

How true is this statement? I thought bitcoin wallet is best for storing long term investment, since no physical companies are to be trusted 100%, people uses bitcoin wallet to established good investment plans but seeing lead to ask questions of why and how true, which means no where is safe for life investment.

Yes provided you only store bitcoin with that since its only supported bitcoin and not other tokens and coins. It is also safe if you protect it from possible danger or hack. Cause even some might get compromise if not secured properly or been affected by virus.

There’s no 100% safe and secured investment. The reason why we have to chose the right investment and keep it secured all the time by being responsible on the safety of our own account. Otherwise, if you only store bitcoin without proper security, and not taking any action to avoid being scammed, you will eventually lost all your bitcoin without your awareness.

[Findingnemo]

Wicked said! Lol, that's someone's name, he said the longer you use bitcoin as your unit of account, the more you begin to realize that it doesn't make sense to make any long term investments with your bitcoin savings...not even in some the best performing stocks from the past few years. They're all down in terms of bitcoin.

How true is this statement? I thought bitcoin wallet is best for storing long term investment, since no physical companies are to be trusted 100%, people uses bitcoin wallet to established good investment plans but seeing lead to ask questions of why and how true, which means no where is safe for life investment.

If I am not wrong Tesla stocks were performing good compared to other well known tech stocks after 2021 but if you compare the ROI of best performed stocks with bitcoin the numbers have huge difference so it means more longer you hold bitcoin then you can expect higher returns than stock investment.

Moving on to next question whether we can trust the bitcoin wallets for storing of bitcoin for years, of course you can since you are in complete control of your wallet unlike stocks which is in account of centralized platforms you only access via that third party.

[SquirrelJulietGarden]

If I am not wrong Tesla stocks were performing good compared to other well known tech stocks after 2021 but if you compare the ROI of best performed stocks with bitcoin the numbers have huge difference so it means more longer you hold bitcoin then you can expect higher returns than stock investment.

In the last one year, many stocks from big tech companies have big drops like 50%, 60% or higher. I don't know it is bad enough for those stocks but let's see their drops as abnormal and see how normal it is with Bitcoin in its past bear market. At today price ~ 30,000, Bitcoin is about a half of its all time high that is not worse than those big tech companies' stocks.

Bitcoin historical corrections from all time highs

Moving on to next question whether we can trust the bitcoin wallets for storing of bitcoin for years, of course you can since you are in complete control of your wallet unlike stocks which is in account of centralized platforms you only access via that third party.

Don't store it on online accounts, on exchanges. Reminder: do not keep your money in online accounts

You will have more safety when you store it in your non custodial wallets like Bitcoin Core, Electrum.

[Daniel91]

You asked this question in the bitcoin forum and of course you could have predicted what kind of answers you would get 
If you had asked your question on a stock market investing forum, you would have gotten a very different answer.
In my opinion there are no right or wrong answers here and every investment has its pros and cons.
The advice of experienced investors is to always diversify your investments by never investing in just one investment project, but in several investment projects, i.e. in different asset classes.
It is important to analyze the market in detail and, in accordance with your own financial capabilities, make a concrete investment plan and have a clear exit strategy.

[hugeblack]

There is no investment based on facts, but rather plans and analysis, and that plan may change according to circumstances and situations, and therefore the phrase is generally correct, but try not to believe in anything to a large extent, especially if it is in the future.

In short, if you have money that you do not need and you are not afraid of losing it, then the saying is completely true.

[BTCGalaxyA12]

I'm not in the mood to talk about wallets. I want to give you a story about long-term investing.

Let's say the age of a father is now 60 years. At his current age he only has gold as an invested asset since he was 20 years old.
The father first bought gold at a price of $1,000 and the price of Bitcoin at that time was $100.

Now the price of Bitcoin has reached $ 30K while the price of gold, for example, is $1,500. What percentage of profit did the father get from investing in gold and how much profit would he get if the father had been investing in Bitcoin since he was 20 years old.

Cheers,

[reagansimms]

Your attitude and belief in Bitcoin determines how suitable Bitcoin is for long-term investment. The knowledge and information you get here will really help you find direction and determine how you treat Bitcoin.
People who already know and understand bitcoin's journey from year to year will always use it as an asset that must be kept. Secure your assets properly, avoid things that might be infiltrated by other parties with malicious intent. Asset safety is in your hands, never let anyone enjoy the results of the savings that you have kept for a long time.

[mk4]

Bitcoin has heavily outperformed a huge majority of investments simply because bitcoin back then was in its heavy growth stage. The better question is — how good will bitcoin perform in the next decade? Maybe good, maybe bad, but definitely not exceptionally good as the last decade.

[Upgrade00]

— how good will bitcoin perform in the next decade? Maybe good, maybe bad, but definitely not exceptionally good as the last decade.

And that could be a good thing. The market has become saturated with speculative investors who understand little about Bitcoin and are only interested in profits. Don't get me wrong, profits are good and everyone of us wants a bit of it, but if that becomes the sole reason why people hold it, you have buyers who are only waiting to dump on the next set of investors.

Some more stability would attract those who are interested in the features of Bitcoin and not just the price.

[Fiatless]

Wicked said! Lol, that's someone's name, he said the longer you use bitcoin as your unit of account, the more you begin to realize that it doesn't make sense to make any long term investments with your bitcoin savings...not even in some the best performing stocks from the past few years. They're all down in terms of bitcoin.

I don't know why the person concluded that Bitcoin is not a viable long term, but did he give your an alternative investment? But I think everybody is entitled to his own decision or belief. For me, I have not come across any crypto investment that is more genuine, durable, and somehow profitable than Bitcoin.

How true is this statement? I thought bitcoin wallet is best for storing long term investment, since no physical companies are to be trusted 100%, people uses bitcoin wallet to established good investment plans but seeing lead to ask questions of why and how true, which means no where is safe for life investment.

Decentralized wallets are the best to store your coin but you also have the responsibility to keep your investment safe. There are risks attached to all forms of business so we can not conclude that there is a safe place to invest funds or savings.