Bitcoin kwoledge is not complete without bitcoin investment

[Iranus]

I am still young at my late twenties and if I can DCA for ten years from now without selling, I believe that I will have a significant amount of bitcoin, which this I will try to achieve because I want to make bitcoin be part of my life since I believe that bitcoin has come to stay and it is worth investing in as an assest.

If you consider Bitcoin as part of your life, you will have to depend on Bitcoin all your life if you only have Bitcoin, and that doesn't mean you won't sell it at all for 10 years.
I mean, make Bitcoin a goal to help you in various stages of your life.

Is there anyone who invests all their earnings in Bitcoin only? I don't think so. You are correct if someone invests only in Bitcoin and doesn't invest in anything other than it. Then, they will have to rely on Bitcoin only. But who does this thing? Investing all your earnings only in Bitcoin is a crazy idea. If someone saves a thousand dollars, I would suggest they invest only 10 to 20 percent of their savings in Bitcoin. This is not too low and not too big. If someone invests a significant portion of their income and does not have other savings, they won't be able to hold it for a long time. They will have to sell their Bitcoin for emergencies and even daily needs. So, make it like you don't have to touch your Bitcoin.

I've seen some people claim that all their assets are in bitcoin, they don't trust banks, don't hold fiat, and I think that's a bad idea. It's not something to brag about and it doesn't make us stand out from anyone else. You're right, if they put all their income into bitcoin and don't have any savings or fiat for emergencies and daily needs. They will soon regret that bad plan. Whether we like it or not, fiat money is still the world's main currency, we will not be able to live without it.

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[Su-asa]

..then you can look into studying bitcoin some more and tweak the BTC accumulation plan..

Hey, I always love to read your long post which I enjoy reading it.
By the way, speaking of the accumulation plan is the right step when you want to start investing in Bitcoin and I tend to agree with you that starting small, like with any investment, can be a good step.  It allows us to dip our toes in the water without causing possible financial stress or anxiety.  It might take several weeks or even months before someone becomes more comfortable with the concept of investing in Bitcoin, both in terms of their budget and their psychological readiness.

One of the reasons why starting a new investment from a small amount is because, as a newcomer to the investment, it is not advised to rush and start accumulating, whether you already have knowledge of the investment or not, but since you have not invested before, you can be skeptical about what you are trying to do if it will give you what you are expecting or not. I use the word TRY because Bitcoin investment is not 100% guaranteed.
Some of the reasons why starting an investment from small, is just that we can tell ourselves when we have $50k, that's when we will start investing or accumulate more coins and, sometimes, even if we have the $50k, we can still end up not investing. Starting an investment from a small amount is also not a good idea.

[Sayeds56]

Most people on the street generally should know their budget well enough to know if they are able to buy $10 per week with bitcoin.. and if they do not have $10 to get started, then maybe they better get their shit together and get $10 to buy their first bitcoin.. and just get the fuck started, and yeah, maybe such people start in a way that is very small and non-threatening to their budget and their psychology... and so maybe it takes several weeks before starting to become more comfortable with what it is that they are investing into, but if you do not have time to study bitcoin, then at least you do the basics in terms of getting started right away, and then when you do have time, then you can look into studying bitcoin some more and tweak the BTC accumulation plan..

and another thing, everyone is responsible for their own choices regarding whether or not to buy bitcoin and if so how much to buy and how to go about it... so if some people are not comfortable enough to figure out how to buy bitcoin then those would be the first things to figure out and once they figure it out, then execute.. and just like OP said, getting started makes it much more concrete to be paying attention regarding learning and removes bitcoin from the theoretical and into the practical.. .. and  if you fuck up by buying $10 of bitcoin, don't come crying to me.. and also if you fuck up by not buying $10 right away, then at some point down the road, I will tell you, "I told you so."

Your strong and unwavering encouragement for the general public to make some savings even just $10 for investment in Bitcoin underscores your firm belief in Bitcoin's potential to positively impact the financial future of these individuals. I am also one of those who follow your investment guidance, taking full responsibility of this choice. I am fully aware that results of these decision are most likely to yield significant profits in the long term, but it is equally possible that outcome to go in a different direction.

[Learn Bitcoin]

Some people have all the money,  such people are still not fit to invest in Bitcoin because they don't have the knowledge, either you have the money or not, you have to seek for knowledge first.

That's the main point. This line goes against the thread title, and I am okay with that. I have learned many things out of curiosity. I have learned a little bit of video editing, a little bit of photo editing, CSS, HTML and many more things that I don't do these days. Does it mean my learnings are a waste of time? I don't think so because these things help me personally.

When it comes to Bitcoin, I have to learn first before I invest. The reason is apparent. If I don't learn about Bitcoin and start investing in it slowly but surely, I will be disappointed in Bitcoin when I see the market crashing.

[Wakate]

Some people have all the money,  such people are still not fit to invest in Bitcoin because they don't have the knowledge, either you have the money or not, you have to seek for knowledge first.

That's the main point. This line goes against the thread title, and I am okay with that. I have learned many things out of curiosity. I have learned a little bit of video editing, a little bit of photo editing, CSS, HTML and many more things that I don't do these days. Does it mean my learnings are a waste of time? I don't think so because these things help me personally.

When it comes to Bitcoin, I have to learn first before I invest. The reason is apparent. If I don't learn about Bitcoin and start investing in it slowly but surely, I will be disappointed in Bitcoin when I see the market crashing.

It is more beneficial to us when we learn first before we invest. This help us to be very conscious about making decisions that will help is grow well in making appropriate decisions that would be very effective to us. We need to be learning because we don't know when we are going to need such knowledge and the kind of greater benefits it's going to give us. Bitcoin investment need a lot of constant learn to help us make effective decisions that would bring more profits to us. There are people that are always looking for new means to scam people but if we have a good knowledge in cryptocurrency, we can defend ourselves from scammers.

[MainIbem]

Some people have all the money,  such people are still not fit to invest in Bitcoin because they don't have the knowledge, either you have the money or not, you have to seek for knowledge first.

That's the main point. This line goes against the thread title, and I am okay with that. I have learned many things out of curiosity. I have learned a little bit of video editing, a little bit of photo editing, CSS, HTML and many more things that I don't do these days. Does it mean my learnings are a waste of time? I don't think so because these things help me personally.

When it comes to Bitcoin, I have to learn first before I invest. The reason is apparent. If I don't learn about Bitcoin and start investing in it slowly but surely, I will be disappointed in Bitcoin when I see the market crashing.

It is more beneficial to us when we learn first before we invest. This help us to be very conscious about making decisions that will help is grow well in making appropriate decisions that would be very effective to us. We need to be learning because we don't know when we are going to need such knowledge and the kind of greater benefits it's going to give us. Bitcoin investment need a lot of constant learn to help us make effective decisions that would bring more profits to us. There are people that are always looking for new means to scam people but if we have a good knowledge in cryptocurrency, we can defend ourselves from scammers.

I think about the case of being scammed or fallen in the hands of scammers are people who are too desperate about making money online, they always want to utilize all single opportunity they comes across online which to me isn't proper most at times we should see some of those opportunities that looks so real to be fake. Money or profit doesn't comes that way it takes time to rise and with much knowledge invested in making research it would be very hard for someone to cheaply fall into the hands of scammers, so we should reduced too much pressure of utilizing every single opportunities, so it's the knowledge that gives guides on how to become a successful bitcoin investor or a strong holder.

[Blitzboy]

I am not suppose to say this here but i want forum members to advice and tell me on how I can go with my bitcoin journey as a newbie and become successful in it without losing my bitcoin. My Dad is late and he left us a building which I and my siblings inherited. I rented my own apartment because I stay in a more civilized area. Whenever my tenant pays me my rent, I just keep the money in the bank and sometimes it stays there for more than six months in my account because I have a job that takes care of my responsibilities. This year when I joined this forum, after reading through topics and comments from forum users on bitcoin investment, I said to myself that it will be wise if i give bitcoin investment a trial and see how it will feel like holding a bitcoin.

Last week Monday, I recieved my rent, but guess what I was scared of investing it on bitcoin because I was having so many thoughts in my head telling me to invest and not to invest. I continued with my forum activities and kept on reading, at a point, I got to realize that what will I gain, if I have the knowledge of bitcoin and I don't invest in it to have the experience on using bitcoin and to also have the experience of holding in long term, so that i can talk about bitcoin from experience. This means that it is important for me to buy bitcoin to acquire more knowledge,and this will be an advantage for me  to buy bitcoin now that the price is dip, before it pumps back. Yesterday, I used 60% of the money my tenant paid me to buy bitcoin and I was relieved and happy. I have also created an electrum wallet which I have transfered my coins into, the reason why I chose electrum wallet because it is noncustodial with RBF and Ligthening Network features, which can allow you to double spend,incase the network is congested and your transaction fee is low,since sometimes bitcoin blockchain used to be congested with dust transactions.

I intend to hold by bitcoin for long, because I just started my bitcoin journey and, I know that it isn't going to be an easy one for a newbie like me. I will use 10% of my income to DCA every month, because I also noticed that fiat currency is depreciating due to inflation and that it is better that I save in bitcoin than to keep it in fiat. The moment my bitcoin reaches $1000, I will look on how to transfer my coins to a cold storage wallet for safety. I couldn't keep this to myself and I said let me bring this to the forum for advise from experienced members on precautions I need to take for me to achieve my bitcoin goal target.

If you haven't invested in bitcoin yet, you should try and do so, if you have the resources so that you can feel the vibes that am feeling right now.

Let's discuss.

I mean that's a good strategy I think the Dollar cost average is a great way to invest for sure since you minimize your risk and have an opportunity to invest most of the time so it wouldn't really matter if the market price is dropping or increasing since your investing every month. I mean having the knowledge on cryptocurrency and Bitcoin is surely necessary if you really want to invest in it, if you doesnt have the knowledge yet you cant really invest in Bitcoin and you might just end up losing your investment at that point so for sure having the knowledge is necessary. But I completely agree that knowledge is not complete if you not really going to invest since all of your knowledge is just gonna be a waste if you not really going to use it and start investing in cryptocurrency.

You have a great strategy already just make sure to not depend on the profits in cryptocurrency since it's not a sustainable income overall I mean yes you could pretty much earn a good amount of income here in cryptocurrency for sure but it wasn't really something that you could use as a main source of income because it is still a very risky investment because of the volatile market price if you're going to use it as your main income your just gonna end up selling your investment at a wrong market price, so make sure to have enough savings first so that you could still survive without your cryptocurrency investments, in my experience that is the trick so that you could easily HODL your cryptocurrency in long term.

DCA does reduce risk, but is there a "no risk" scenario in this economic puppet show? Reading between the large players' movements, the hidden decisions made in dimly lit rooms that change the market's rhythm, is deeper understanding.

Even with your cryptocurrency and Bitcoin understanding, you're a small fish in a big, uncertain sea. Its not about knowledge only; its about understanding the undercurrents that move this ocean.

Its wise not to rely on crypto profit. You think they want you to succeed? You think you have the map, but the fluctuating market is an unholy place. There are much more losers than winners in this game. Cryptocurrency, Bitcoin, yes, exciting and new, but they come with significant risks.

[JayJuanGee]

No knowledge is a waste. If you have the knowledge about bitcoins but do not yet have the money to buy bitcoins, it is still not a waste. If you cannot buy bitcoins today, you will be able to buy tomorrow, what is required is patience and planning. When you have knowledge about bitcoins, you will be able to properly keep your investment in it safe when you finally have the money to invest in it. The knowledge you have gathered even before you were able to get your bitcoins will be important in safeguarding what you have gotten.

Great point mate. Knowledge about Bitcoin never compels a person to invest in Bitcoin. Bitcoin is a digital currency.  Anyone with knowledge of which will understand its uses, and also its future prospects. In that case he is not bound to invest. Investment is a big thing because it involves financial situation. Everyone wants to invest and make profit. And that's why real investors take some time and do a lot of analysis to invest without panic investing. So after learning about Bitcoin there is no obligation to invest in Bitcoin. But before investing in Bitcoin it is definitely mandatory to gain knowledge about Bitcoin.  Otherwise Bitcoin cannot be held securely

Learning is not a waste, no knowledge is waste. Investment can be useless when their is no knowledge.  I take knowledge as very important because everything about investing is all about knowledge. Knowledge is the first thing for someone to have have,  then money us the last thing that is needed. If money comes first before knowledge their won't be positive results in investment.  I don't even see why one would have knowledge about bitcoin and choose not to invest.  Every investor needs knowledge first for successful investment.

I am not even really opposed to what you are saying, Y3shot, because in theory what you are saying is correct.  However, what you are saying seems a bit patronizing because if we are dealing with adults rather than children, we have to presume some level of knowledge already exists with everyone. there are basic ideas about how much money is coming in versus what are the expenses and whether any money is left.  

Sure, young people probably need to spend a lot of time learning how to manage their money and figuring out how to invest, and what to invest in... but some of the learning comes from putting already existing knowledge to practice and learning along the way, rather than presuming that a lot of big and important things need to be learned about "the secrets of bitcoin" prior to our ability to start to take a stake into it.

The fact of the matter is that bitcoin is complicated as fuck when you come down to it, and so there is ONLY so much that each of us are going to know, so in order to develop an investment thesis, there are not necessarily needs to know everything from the start.

[edited out]

..... so make sure to have enough savings first so that you could still survive without your cryptocurrency investments, in my experience that is the trick so that you could easily HODL your cryptocurrency in long term.

From the context of your post Asuspawer09, I can see that you are talking about bitcoin, so why do you feel some kind of need to substitute the word "cryptocurrency?"  

Are you trying to sound smarter?

Do you believe that strategies in regards to bitcoin are equally applicable to shitcoins? or various distracting and scammy shitcoin projects?

Your conscious and several times use of the term "cryptocurrency" seems to show that you have some reluctance in your own abilities to focus on bitcoin.. because you seem to think that there is something more broad that is going on and being contributed to bitcoin by the various affinity scam projects in the shitcoin space in which you are also giving legitimacy to that crap by using the word crypto rather than focusing on bitcoin in the way that you chose to respond to Ruttoshi.

Actually your several times use of the term cryptocurrency rather than using the word bitcoin (if that might have been what you were talking about?), converted a potentially otherwise good post into "gobble-dee-gook."

[Ruttoshi]

I am still young at my late twenties and if I can DCA for ten years from now without selling, I believe that I will have a significant amount of bitcoin, which this I will try to achieve because I want to make bitcoin be part of my life since I believe that bitcoin has come to stay and it is worth investing in as an assest.

If you consider Bitcoin as part of your life, you will have to depend on Bitcoin all your life if you only have Bitcoin, and that doesn't mean you won't sell it at all for 10 years.
I mean, make Bitcoin a goal to help you in various stages of your life.

Is there anyone who invests all their earnings in Bitcoin only? I don't think so. You are correct if someone invests only in Bitcoin and doesn't invest in anything other than it. Then, they will have to rely on Bitcoin only. But who does this thing? Investing all your earnings only in Bitcoin is a crazy idea. If someone saves a thousand dollars, I would suggest they invest only 10 to 20 percent of their savings in Bitcoin. This is not too low and not too big. If someone invests a significant portion of their income and does not have other savings, they won't be able to hold it for a long time. They will have to sell their Bitcoin for emergencies and even daily needs. So, make it like you don't have to touch your Bitcoin.

I've seen some people claim that all their assets are in bitcoin, they don't trust banks, don't hold fiat, and I think that's a bad idea. It's not something to brag about and it doesn't make us stand out from anyone else. You're right, if they put all their income into bitcoin and don't have any savings or fiat for emergencies and daily needs. They will soon regret that bad plan. Whether we like it or not, fiat money is still the world's main currency, we will not be able to live without it.

What I mean, in that statement of making bitcoin to be part of my life means that I will always have a bitcoin investment even at old age. There will be no time that I will not be holding bitcoin, just like the way that we must need fiat to survive because it is a necessity. Bitcoin is not a necessity but it is worth holding and to be pass on to our heirs. This was why you guys are getting my point wrong, I wouldn't only have bitcoin as my investment but I will also have other investment around the corner, so that I don't end up shattering my  will.

 Emergency funds and other funds for up keeping must be among the budget for me to be able to stay off from touching my bitcoin investment portfolio.

so that you could still survive without your cryptocurrency investments, in my experience that is the trick so that you could easily HODL your cryptocurrency in long term.

Not all cryptocurrency can survive the long term and is worth holding except only bitcoin, because of its great potential, which we have seen from history. Most cryptocurrency are shitcoin and they can mess with your funds, and you will run at great loss just like what @JJG said, be used to the word bitcoin and not crypto, and let's be specific.

[Adbitco]

Your conscious and several times use of the term "cryptocurrency" seems to show that you have some reluctance in your own abilities to focus on bitcoin.. because you seem to think that there is something more broad that is going on and being contributed to bitcoin by the various affinity scam projects in the shitcoin space in which you are also giving legitimacy to that crap by using the word crypto rather than focusing on bitcoin in the way that you chose to respond to Ruttoshi.

Actually your several times use of the term cryptocurrency rather than using the word bitcoin (if that might have been what you were talking about?), converted a potentially otherwise good post into "gobble-dee-gook."

Sometimes we don't have to blame them or actually look at what they says because i sense they are trying to come up and with time they could get used with the word "Bitcoin" some people places cryptocurrency to bitcoin. Yes this is true initially at my early age or stage when I had little knowledge and joining the forum recently I never knew there are two seperate words for both but to me then was using cryptocurrencies to classified them both but i strongly believed with time and also as they gets involved with your discussion they would get corrected. That is why you are a boss over here so i believe following your ways isn't bad and that is where you plays your roles as a teacher and mentor who is to correct those people that doesn't have broad knowledge towards the industry.

[qwertyup23]

Some people have all the money,  such people are still not fit to invest in Bitcoin because they don't have the knowledge, either you have the money or not, you have to seek for knowledge first.

That's the main point. This line goes against the thread title, and I am okay with that. I have learned many things out of curiosity. I have learned a little bit of video editing, a little bit of photo editing, CSS, HTML and many more things that I don't do these days. Does it mean my learnings are a waste of time? I don't think so because these things help me personally.

When it comes to Bitcoin, I have to learn first before I invest. The reason is apparent. If I don't learn about Bitcoin and start investing in it slowly but surely, I will be disappointed in Bitcoin when I see the market crashing.

I agree but this also applies to all kinds of investment.

No matter how knowledgeable you are on a certain topic, if you lack the necessary application of using those information and knowledge, then nothing would come into fruition. For example, you may be knowledgeable about all the intrinsic and extrinsic factors affecting the price of BTC and you were also able to accurately forecast its price but if you fail to take any action to take advantage of such knowledge, then nothing would definitely happen.

This is where theories are being used as methodologies in actual experiments. Without actually trying and applying what you have learned, nothing would come out and sprout from the root of all of the knowledge you have learned.

[TimeTeller]

Some people have all the money,  such people are still not fit to invest in Bitcoin because they don't have the knowledge, either you have the money or not, you have to seek for knowledge first.

That's the main point. This line goes against the thread title, and I am okay with that. I have learned many things out of curiosity. I have learned a little bit of video editing, a little bit of photo editing, CSS, HTML and many more things that I don't do these days. Does it mean my learnings are a waste of time? I don't think so because these things help me personally.

When it comes to Bitcoin, I have to learn first before I invest. The reason is apparent. If I don't learn about Bitcoin and start investing in it slowly but surely, I will be disappointed in Bitcoin when I see the market crashing.

I agree but this also applies to all kinds of investment.

No matter how knowledgeable you are on a certain topic, if you lack the necessary application of using those information and knowledge, then nothing would come into fruition. For example, you may be knowledgeable about all the intrinsic and extrinsic factors affecting the price of BTC and you were also able to accurately forecast its price but if you fail to take any action to take advantage of such knowledge, then nothing would definitely happen.

This is where theories are being used as methodologies in actual experiments. Without actually trying and applying what you have learned, nothing would come out and sprout from the root of all of the knowledge you have learned.

In any investment, you should always have your contingencies in case it fails or not up to your expectations.
This is why, people are diversifying their investment portfolio to mitigate possible losses to any of their investment.
And I can agree with what the OP is doing, if you are already in this market, why not invest some especially with the top coin?
If you have done your job, studying the risks involved and you are all prepared, there's nothing wrong about buying some just to get the feel of it.
You would know what to do when you are already in the situation. If you lost some, treat it as a learning experience and see where you got it wrong.

[stomachgrowls]

Some people have all the money,  such people are still not fit to invest in Bitcoin because they don't have the knowledge, either you have the money or not, you have to seek for knowledge first.

That's the main point. This line goes against the thread title, and I am okay with that. I have learned many things out of curiosity. I have learned a little bit of video editing, a little bit of photo editing, CSS, HTML and many more things that I don't do these days. Does it mean my learnings are a waste of time? I don't think so because these things help me personally.

When it comes to Bitcoin, I have to learn first before I invest. The reason is apparent. If I don't learn about Bitcoin and start investing in it slowly but surely, I will be disappointed in Bitcoin when I see the market crashing.

I agree but this also applies to all kinds of investment.

No matter how knowledgeable you are on a certain topic, if you lack the necessary application of using those information and knowledge, then nothing would come into fruition. For example, you may be knowledgeable about all the intrinsic and extrinsic factors affecting the price of BTC and you were also able to accurately forecast its price but if you fail to take any action to take advantage of such knowledge, then nothing would definitely happen.

This is where theories are being used as methodologies in actual experiments. Without actually trying and applying what you have learned, nothing would come out and sprout from the root of all of the knowledge you have learned.

And on the time that you do see that you do make money if you have invested, then you would really be ending up on banging up your head into the wall on why you had missed out or didnt tend to take actions basing up with those analysis of yours which turns out to be true. Just like been said by others above that there's no such thing about risk free on this world no matter how good you are on dealing with something then losing money would  really be just that so inevitable but on the time that you do able to have a good grasps within this market then most likely you would really be able to make yourself sustain and would  really be able to make yourself survive despite of being random and unpredictable.
Knowledge in overall which it isnt limited on Bitcoin would really be always relevant on which not taking any action despite of being wary about the situation or condition would really be just that a waste because
you wont really be making money if you do let yourself sitting idle or would really be just that simply taking no action which it would be resulting on having no gains at all.

Sometimes we don't have to blame them or actually look at what they says because i sense they are trying to come up and with time they could get used with the word "Bitcoin" some people places cryptocurrency to bitcoin. Yes this is true initially at my early age or stage when I had little knowledge and joining the forum recently I never knew there are two seperate words for both but to me then was using cryptocurrencies to classified them both but i strongly believed with time and also as they gets involved with your discussion they would get corrected. That is why you are a boss over here so i believe following your ways isn't bad and that is where you plays your roles as a teacher and mentor who is to correct those people that doesn't have broad knowledge towards the industry.

It would be really just that normal that you would really be going into the situation when you are still newbie on which information would really be that lacking or something that you had
put up into your mind with those bad ideas on which you would really be that able to change it out later on, on the time that you do able to read up those right informations
which are supposed to be read up and those past knowledge or information that you had read up will eventually be changed up directly.

[Sayeds56]

When it comes to Bitcoin, I have to learn first before I invest. The reason is apparent. If I don't learn about Bitcoin and start investing in it slowly but surely, I will be disappointed in Bitcoin when I see the market crashing.

Absolutely correct, it is essential to develop comprehensive understanding about Bitcoin, its historical price trends and patterns on longer timeframes like weekly or even monthly intervals, before venturing into Bitcoin investment. It can exhibit extreme volatility on occasions and newcomers can get disheartened by substantial price drops, sometimes to the extent of 80% or even more during the bear market cycle that can last for years. Exercising patience and emotional control during such bearish phases is crucial for securing remarkable profits in the long run.

[YUriy1991]

When it comes to Bitcoin, I have to learn first before I invest. The reason is apparent. If I don't learn about Bitcoin and start investing in it slowly but surely, I will be disappointed in Bitcoin when I see the market crashing.

Absolutely correct, it is essential to develop comprehensive understanding about Bitcoin, its historical price trends and patterns on longer timeframes like weekly or even monthly intervals, before venturing into Bitcoin investment. It can exhibit extreme volatility on occasions and newcomers can get disheartened by substantial price drops, sometimes to the extent of 80% or even more during the bear market cycle that can last for years. Exercising patience and emotional control during such bearish phases is crucial for securing remarkable profits in the long run.

It's true, annoyed, bored and happy are always mixed up when entering this world of trading. So, what is needed now is to be good at reading the direction of where the market is going and of course with a careful mindset and studying the factors that influence volatility because prices can rise quickly and fall in an instant. Yes. We know that BTC is an investment instrument with a long-term strategic pattern if you want maximum returns.

[JayJuanGee]

In any investment, you should always have your contingencies in case it fails or not up to your expectations.
This is why, people are diversifying their investment portfolio to mitigate possible losses to any of their investment.

It's a misuse of the term diversification, and that is how people get sucked into shitcoins because it is meant to sound like it is normal to diversify into shitcoins - merely because you don't know what is bitcoin and you cannot tell the difference between what is bitcoin and what are shitcoins.

The real idea of smart diversification goes into different kinds of asset classes rather than in the same asset class, and yeah sure if you are dumb and don't know what is bitcoin, then you will be led into false regarding various possibilities of various shitcoins.

Now in terms of gambling rather than investing, then diversifying might make some sense.  Diversify some of your gambling items, but OP has already stated several times that he is not gambling, he is investing and he is doing it for the long term, not the short term, so it does not really make any sense to diversify for the mere sake of it.. especially since you don't even seem to understand the concept of diversification very well.

Another aspect of diversification that can screw up your investment is when you end up diluting, and it could be the case that new investors should not be diluting their investment, and there may well not be any need to add additional assets until maybe your investment portfolio (potentially ONLY starting with bitcoin and cash) gets to be a certain size.. perhaps 20% to 50% of your annual salary, or maybe even a larger number.. which may well depend also on how much discretionary income a person might have.  There are a lot of people who ONLY are able to invest 10% of their annual salary at most, and so at that pace it would take them 10 years to get to a point in which they have invested a whole year's salary, so then it may well depend on how well their investments performed to be able to see if they have more than a whole years worth of income (or living expenses) in their investment portfolio. ..

The mere fact that some people are ONLY able to invest small amounts seems to justify a whole hell of a lot less diversification rather than fucking around with diluting the small amounts that they are actually able to invest (or save).  

And I can agree with what the OP is doing, if you are already in this market, why not invest some especially with the top coin?

Again pushing shitcoins.. Merely because they are at the top does not necessarily convert them into either an investment or within a category that is even close to as good as bitcoin.. so then a question becomes why waste your time, energy and/or money on such distractions?

If you have done your job, studying the risks involved and you are all prepared, there's nothing wrong about buying some just to get the feel of it.
You would know what to do when you are already in the situation. If you lost some, treat it as a learning experience and see where you got it wrong.

Fuck shitcoins.. there is no need to practice with them without having a better investment thesis than diversification for the sake of it or they happen to be in the top coins or dumb shit like that.  When investing into shitcoins as contrasted with bitcoin there are more reasons to have to look into the overwhelming crap that is out there trying to act like they are either equal to or better than bitcoin.. so the best is to start out with bitcoin first and no need to study very many details and just get the fuck started with bitcoin and learn along the way... if you are going to fuck around with other coins and or projects, you are going to need to do your homework first because an overwhelming majority are pure nonsense and in need of babysitting and/or getting in and out rather than just buying and forgetting about it for 10 years (which way closer to the case with bitcoin.. being able to invest and forget about it).

[tygeade]

OP, I commend you on this. You took a bold step by putting to test your convinction and faith in Bitcoin by investing in it. That's what every Bitcoin fan should do. They've to at least own a bit of it in their own private wallet. That way, they've a basic knowledge and feel of what Bitcoin is. It's like a man who tells everyone that he's a carpenter but doesn't have a single couch at home. Let's even see it the other way round, the knowledge is the theory while the investment part is the practical. Both should go hand in hand to give a better result and increase success rate.

I agree, I did this many years ago but I agree with it as well. I feel like it's obvious that we are not doing anything that would be smart to handle all these kind of stuff, it just doesn't make sense to handle it any differently. I really hope that people could make it change a bit more and we could see some changes on the long term, but for the time being I believe that we are going to end up with a result that would be a lot better if we follow where our heart takes us.

Bitcoin is an amazing asset and having some of it couldn't hurt you if the money you are putting in is not some money that you will need. Some people put in their salary, that's a wrong move, do not make that type of investments at all.

[Su-asa]

Fuck shitcoins.. there is no need to practice with them without having a better investment thesis than diversification for the sake of it or they happen to be in the top coins or dumb shit like that.  When investing into shitcoins as contrasted with bitcoin there are more reasons to have to look into the overwhelming crap that is out there trying to act like they are either equal to or better than bitcoin.. so the best is to start out with bitcoin first and no need to study very many details and just get the fuck started with bitcoin and learn along the way... if you are going to fuck around with other coins and or projects, you are going to need to do your homework first because an overwhelming majority are pure nonsense and in need of babysitting and/or getting in and out rather than just buying and forgetting about it for 10 years (which way closer to the case with bitcoin.. being able to invest and forget about it).

@JJG, you have a clear point.
Some shitcoins end up being scams sometimes, whether they are the top shitcoins or not. As long as it's a shitcoin, fuck them all.
Although altcoins are not the best to recommend for a new investor, altcoins are more savable than shitcoins and this is a useful link.

When we talk about a good crypto currency, we should always remember BTC because Bitcoin is the only crypto currency in the market that investors are planning to accumulate.
Shitcoins can never grow above $10K because it is only those that don't know what Bitcoin is all about that put their money on it. The ethereum coin can be more profitable sometimes, but Bitcoin is more profitable when an investor holds it for a long time.

[Inwestour]

Fuck shitcoins.. there is no need to practice with them without having a better investment thesis than diversification for the sake of it or they happen to be in the top coins or dumb shit like that.  When investing into shitcoins as contrasted with bitcoin there are more reasons to have to look into the overwhelming crap that is out there trying to act like they are either equal to or better than bitcoin.. so the best is to start out with bitcoin first and no need to study very many details and just get the fuck started with bitcoin and learn along the way... if you are going to fuck around with other coins and or projects, you are going to need to do your homework first because an overwhelming majority are pure nonsense and in need of babysitting and/or getting in and out rather than just buying and forgetting about it for 10 years (which way closer to the case with bitcoin.. being able to invest and forget about it).

You are right, if you buy shitcoins and forget about most of them for several years, I'm not even talking about 10 years or more, then you can forget not only about this investment but also about your money. I'm talking about this from my own experience because when I learned about Bitcoin and saw how altcoins could rise, and I decided that this was a good way to increase the Bitcoin in my wallet, but I only lost everything I had because I didn't sell, when I could do it.

There are doubts that I will be able to achieve at least any satisfactory result with shitcoins, so I decided not to take any more risks and buy bitcoin, everything ingenious is simple.

[Out of mind]

Some people have all the money,  such people are still not fit to invest in Bitcoin because they don't have the knowledge, either you have the money or not, you have to seek for knowledge first.

That's the main point. This line goes against the thread title, and I am okay with that. I have learned many things out of curiosity. I have learned a little bit of video editing, a little bit of photo editing, CSS, HTML and many more things that I don't do these days. Does it mean my learnings are a waste of time? I don't think so because these things help me personally.

When it comes to Bitcoin, I have to learn first before I invest. The reason is apparent. If I don't learn about Bitcoin and start investing in it slowly but surely, I will be disappointed in Bitcoin when I see the market crashing.

Yes' I agree with you, before learning anything one must have knowledge of that subject, otherwise one can never learn those subjects. Because you learn a lot of things over time, and you don't do them, but the fact that you learn them is the greatest thing, and I think it's never a waste of time. Learning a subject will surely be needed one day in the future, and can certainly help you personally in this learning. If you had not learned these things you would never have been able to talk about them in the future if they were discussed in any detail, so this education of yours I think was best and necessary.

The same goes for Bitcoin investing. If I had no idea about Bitcoin, I would never have learned one without taking an education. In that case, I definitely need to learn about Bitcoin and how to invest and know the basics of Bitcoin. Of course, if I'm not well versed in Bitcoin and invest without knowing it, I'll most likely lose my money. And if I invest knowing everything, then surely I can expect profit from Bitcoin in the future, so learn everything first, but experience in everything will increase.