Knowledge vs hodlings

[gunhell16]

To invest one must take risk, without taking risk investment is never possible but we have to make sure that we are taking risk in right place or taking risk in wrong place. Taking risks in altcoins to have bitcoins is definitely foolish.  

As we have to invest through money, it is our responsibility to ensure maximum security of money. Bitcoin is safe and Bitcoin will definitely guarantee you money but altcoins will never guarantee you money. A Bitcoin investor has high hopes that his investment will never fail and he will never be promoted by investing in Bitcoin. Such belief of an investor towards Bitcoin is enough to invest in Bitcoin. Since we have knowledge, we have to put that knowledge to good use. Instead of depending on others, I have to find out by myself where my money will be safe as well as where my money will grow if I invest. When a person tries to use his knowledge to know these things, he can find the right investment medium and that must be Bitcoin.

Why do we even have to discuss altcoins here? In general, they are a risky investment in my opinion. The risk is high because only a few of them are genuinely profitable as investments. Have you ever heard of developers exiting a project and taking the money? That happens in altcoins but never in Bitcoin because Bitcoin's developers are anonymous and not moving their funds. I'm talking about Satoshi. These altcoins are just copies, riding on the popularity of Bitcoin. If you've witnessed and experienced a bull run, it's Bitcoin that's driving that bull market. Altcoins just benefit from it. So, if you want to be on the safer side, always choose Bitcoin over any other project.

Thank you for being a voice of reason. So many people are so reluctantly discussing about Bitcoin forgetting this is where Bitcoin should be discussed and any conversations should be directed to Bitcoin. As far as Bitcoin is concerned, it is the only legitimate cryptocurrency all other alternative currency are scams, Inexpensive, imitations, appealing to the praises of developers. Even in their widespread in various technologies and adaptation to AI that doesn't make them useful, worthy, or worth being taken seriously like Bitcoin. Bitcoin has maintained its technology consistently without any failure over the years since its origin. Don't get me wrong. I have am not against the evolution of Altcoins am here to bring us back to the topic at hand and share a fresh perspective.

Many things were said about Bitcoin years ago, even though I didn't have much knowledge about it, I didn't listen. I bought a small amount, but I sold it at a low point due to my lack of knowledge. Now, I continue to invest in Bitcoin by Dacing on a weekly basis, and I hold all for long because I have gained a better understanding of how it works. Sometimes you just have to take a chance.

I think that as long as you know that the strategy you are taking is correct and that it helps you, just do it and keep doing it. Yes, it's true that altcoins have risks, but let's not forget that Bitcoin still has risks.

Sometimes this is also the mistake of most people here; they always say that the risk is high in altcoins. Why? is there a difference between high risk and low risk? For me, it makes no difference; they are still at the same risk. The difference is that we lack the information that is being said.

Yes, Bitcoin was proven and tested  when it comes to long-term matters. The question is, is Bitcoin the only proven and tested long-term investment in this field? what about the Ethereum, Bnb, Ltc, Doge, and others that are top-listed in the market are they proven and tested? Isn't that they also gave a lot of profit to al holders who believed in these altcoins?

[1714660053]

1714660053

[seanskie18]

That's sound advice for newcomers to the world of Bitcoin. It's true that you don't need to be an expert in the technical aspects of Bitcoin to start investing. Focusing on the basics, like how to securely buy and store your coins, is a smart first step. Understanding security measures is crucial to protect your investment. As you become more comfortable, you can delve deeper into the technical aspects of Bitcoin if you wish.

[JayJuanGee]

I think that as long as you know that the strategy you are taking is correct and that it helps you, just do it and keep doing it. Yes, it's true that altcoins have risks, but let's not forget that Bitcoin still has risks.

You are setting yourself up to be dumb, because your starting premise is that everything has risk, which is true.. but there still are needs to get into specifics regarding what are the kinds of risks and then what would be the measures in order to attempt to account for the risks.. .certain kinds of risks are more tolerable than others, but there is also individual variation including that sometimes people do not really understand what risks that they might be taking.. but you are here to explain that, right gunhell16?

Sometimes this is also the mistake of most people here; they always say that the risk is high in altcoins. Why?

Think rug pull risk.

is there a difference between high risk and low risk?

no there is no difference if you are just talk about the same thing but giving a higher number, but if you are comparing different categories, then you need to get into a bit more nuance in terms of assessing.. well that is if you want to waste your time assessing the various shitcoin risks... and it seems that you have not really done that very well gunhell16, especially since you seem to be inclined to set everything up as if it were the same and just a matter of degree.

For me, it makes no difference; they are still at the same risk.

Yes for you it is the same, which goes to show that you likely do not know shit.. especially if you are trying to lump bitcoin with shitcoins and saying that it is just a matter of degree.  sounds like a gambling fallacy.  go ahead and gamble and then act like you have assessed the risks adequately because all risk is just random anyhow, right?

The difference is that we lack the information that is being said.

Well, this part is true.  If you are comparing, then you have to get into some details regarding what you are describing and comparing in order to attempt to figure out what the differences are and what kinds of risks you are taking and if you can identify most if not all of the risks (you might not need to identify all of the risks) then you can figure out the extent to which you might want to protect against it or even if you are willing to get into investing into some kinds of projects that might have certain kinds of risks that might be considered as unacceptable.

Yes, Bitcoin was proven and tested  when it comes to long-term matters.

Time proven and tested is not the ONLY thing that makes bitcoin less risky than various shitcoins.. and probably how bitcoin is less risky than any particular shitcoin that you are wanting to mention would depend upon which one you are mentioning rather than just speaking in generalities.

The question is, is Bitcoin the only proven and tested long-term investment in this field? what about the Ethereum, Bnb, Ltc, Doge, and others that are top-listed in the market are they proven and tested? Isn't that they also gave a lot of profit to al holders who believed in these altcoins?

Good luck with that crap... you will likely need it.. especially if your ONLY measure regards the adequacy of "time-testedness" of various shitcoins as compared with bitcoin.

Another way of thinking about the matter is that shitcoins have a presumption of being a scam and/or shit as is in their description.  So if you believe that any of them are "good investments" then you need to make sure that they overcome the shitcoin presumption.  If you want to persuade anyone, then the burden is on you to show it, and I doubt that merely looking at how long their chart is would be enough in order to persuade very many people besides you and maybe a few other gambler wannabes... nothing wrong with gambling as long as you realize that you are doing it and watch your position size and perhaps your in and out considerations.. and if you are thinking them in terms of long term like bitcoin, then you are likely assuming too much. .even though position size might help you in regards to making sure that you are not buying too much of any shitcoin and diluting your BTC investment because you are wanting to gamble rather than investing.

[Mr.suevie]

Yes, Bitcoin was proven and tested  when it comes to long-term matters. The question is, is Bitcoin the only proven and tested long-term investment in this field? what about the Ethereum, Bnb, Ltc, Doge, and others that are top-listed in the market are they proven and tested? Isn't that they also gave a lot of profit to al holders who believed in these altcoins?

That's your own take on this but I think alot of people who have been greatly affected by altcoins syndrome will certainly disagree with you on this because  although the above mentioned coins have been around for some time but the fact still remains that these altcoins are nothing comparable to Bitcoin in terms of market trust and reliability. Let's take one of the so called popular coins that was a hit a few years back as an example LUNA the coin had a big stand and alot of skeptical person like yourself who actually believe this stability actually invested their money on this coin and the after effect and toll was shown as all these coins belong to a central entity and can be controlled and manipulated which gives them the lower hand when it comes to their stand in reliability in the crypto space.

[Sanitough]

To invest one must take risk, without taking risk investment is never possible but we have to make sure that we are taking risk in right place or taking risk in wrong place. Taking risks in altcoins to have bitcoins is definitely foolish. 

As we have to invest through money, it is our responsibility to ensure maximum security of money. Bitcoin is safe and Bitcoin will definitely guarantee you money but altcoins will never guarantee you money. A Bitcoin investor has high hopes that his investment will never fail and he will never be promoted by investing in Bitcoin. Such belief of an investor towards Bitcoin is enough to invest in Bitcoin. Since we have knowledge, we have to put that knowledge to good use. Instead of depending on others, I have to find out by myself where my money will be safe as well as where my money will grow if I invest. When a person tries to use his knowledge to know these things, he can find the right investment medium and that must be Bitcoin.

Why do we even have to discuss altcoins here? In general, they are a risky investment in my opinion. The risk is high because only a few of them are genuinely profitable as investments. Have you ever heard of developers exiting a project and taking the money? That happens in altcoins but never in Bitcoin because Bitcoin's developers are anonymous and not moving their funds. I'm talking about Satoshi. These altcoins are just copies, riding on the popularity of Bitcoin. If you've witnessed and experienced a bull run, it's Bitcoin that's driving that bull market. Altcoins just benefit from it. So, if you want to be on the safer side, always choose Bitcoin over any other project.

Thank you for being a voice of reason. So many people are so reluctantly discussing about Bitcoin forgetting this is where Bitcoin should be discussed and any conversations should be directed to Bitcoin. As far as Bitcoin is concerned, it is the only legitimate cryptocurrency all other alternative currency are scams, Inexpensive, imitations, appealing to the praises of developers. Even in their widespread in various technologies and adaptation to AI that doesn't make them useful, worthy, or worth being taken seriously like Bitcoin. Bitcoin has maintained its technology consistently without any failure over the years since its origin. Don't get me wrong. I have am not against the evolution of Altcoins am here to bring us back to the topic at hand and share a fresh perspective.

Many things were said about Bitcoin years ago, even though I didn't have much knowledge about it, I didn't listen. I bought a small amount, but I sold it at a low point due to my lack of knowledge. Now, I continue to invest in Bitcoin by Dacing on a weekly basis, and I hold all for long because I have gained a better understanding of how it works. Sometimes you just have to take a chance.

Good for you! You're on the right path by investing in Bitcoin. It has a track record of being the powerhouse in the market. We refer to this market as the cryptocurrency space, and that includes altcoins too.

But remember, without Bitcoin, there wouldn't even be something called altcoins. They're essentially 'alternative coins' for a reason. In reality, there might not even be a need for these alternatives since Bitcoin is doing just fine with its intended purpose. So, yeah, tread carefully with altcoins; they can eat into your cash.

[Blitzboy]

`

Mistakes and bad decisions in life would really be that possible but doesnt mean that you wont really be able to changed up yourself for the better considering that mistakes would really be that a learning on which it would really be leading on something that will really be straighting things out that you had missed out earlier due to lack of knowledge and awareness of things. We do know that it isnt really that something that could be avoided since due to lack of knowledge, you would really be that committing those common mistakes and errors and this is something inevitable.The good thing on here is that you would really be making yourself that making some adjustment on which this is something that most common reaciton that you would be making.

We might be able to miss out those things earlier but doesnt mean that we cant really be able to caught up. If you do find yourself that been lacked of sufficient knowledge and awareness
on Bitcoin then it is really just that depending on you on how you would really be making out decisions on learning it up since every information could really be known
and be read up online.It is really just that a matter of effort and time that you would be spending.

Your comment stands a universal truth: humans make mistakes owing to their limits, especially in unfamiliar fields like Bitcoin and crypto. Understand that ignorance causes most mistakes. Does this lack absolve us of our actions? No. Cryptocurrencies are complex and dangerous. Every Bitcoin fact is a click away.

Overthinking previous mistakes won't change the present. Edify yourself instead by dedicating time and effort. Bitcoin and its foundations aren't just financial tools; they demonstrate human creativity and tenacity. When you complain about missed opportunities or a lack of comprehension, ask yourself if you've exhausted all avenues to learn? Or have you only skimmed the surface, hoping for enlightenment?

[Agbe]

@gunhell16, it is the risk in investment an businesses make people to be conscious about investment and business proper. If there was no risk everyone would be a negligent to their investment but because of the risk we have to be consciously doing and planning things very well. The risk in altcoins are not high, because they are much more stable than bitcoin. Fear on altcoins is the collapse in anytime. Just like some altcoins in the past which have collapsed and people funds also lost as well.  And that is one the major fear in altcoins.

[Viscore]

Yes, Bitcoin was proven and tested  when it comes to long-term matters. The question is, is Bitcoin the only proven and tested long-term investment in this field? what about the Ethereum, Bnb, Ltc, Doge, and others that are top-listed in the market are they proven and tested? Isn't that they also gave a lot of profit to al holders who believed in these altcoins?

That's your own take on this but I think alot of people who have been greatly affected by altcoins syndrome will certainly disagree with you on this because  although the above mentioned coins have been around for some time but the fact still remains that these altcoins are nothing comparable to Bitcoin in terms of market trust and reliability. Let's take one of the so called popular coins that was a hit a few years back as an example LUNA the coin had a big stand and alot of skeptical person like yourself who actually believe this stability actually invested their money on this coin and the after effect and toll was shown as all these coins belong to a central entity and can be controlled and manipulated which gives them the lower hand when it comes to their stand in reliability in the crypto space.

We can't deny that some altcoins have brought substantial profits to their investors, but when compared to Bitcoin, they can be riskier, even though Bitcoin remains relatively stable despite its occasional volatility. It ultimately boils down to personal choice, but we're here to talk about long-term investments that we can simply hold without the need for constant monitoring, as long as our Bitcoin is securely stored in our wallet.

The thing with altcoins is that there are some risks involved, and based on my personal observations, here are a couple to consider:

1-Developers: If the developers abandon a project, the price usually takes a hit. If you're not keeping a close eye on this, you might end up losing your investment. This has happened before, and it could happen again, turning you from a hero to zero.

1-Network Shift: I've experienced this myself when some of my Ethereum tokens switched to a different network without me realizing. I was just holding them in my wallet, and to make things worse, they imposed a deadline for swapping to a new coin; otherwise, your holdings become worthless.

These are just a few of the things to keep in mind when investing in altcoins. With Bitcoin, you can sit pretty, as it will remain Bitcoin, even 50 years from now.

[Ndabagi01]

To invest one must take risk, without taking risk investment is never possible but we have to make sure that we are taking risk in right place or taking risk in wrong place. Taking risks in altcoins to have bitcoins is definitely foolish. 

As we have to invest through money, it is our responsibility to ensure maximum security of money. Bitcoin is safe and Bitcoin will definitely guarantee you money but altcoins will never guarantee you money. A Bitcoin investor has high hopes that his investment will never fail and he will never be promoted by investing in Bitcoin. Such belief of an investor towards Bitcoin is enough to invest in Bitcoin. Since we have knowledge, we have to put that knowledge to good use. Instead of depending on others, I have to find out by myself where my money will be safe as well as where my money will grow if I invest. When a person tries to use his knowledge to know these things, he can find the right investment medium and that must be Bitcoin.

Taking risks is not the issue; what is important is that you take risks that are worthy of being taken, rather than risks that have no future or whose future is uncertain. When we talk about cryptocurrencies and include altcoins, you'll see that from the start of cryptocurrencies, only altcoins have fled the market multiple times due to market volatility. If it is about strength and a solid investment, it should be bitcoin because no other altcoin would exist today and would not have been compromised if bitcoin was still standing.

Most are simply hiding behind the plumage of bitcoin and can only utilise bitcoin as their reserve currency if things do not go good for them in the long run. Do you still need to be convinced that anltcoins are just high-risk, gamble investments after all of this? You'll never know the direction of these coins, but most of them will lose their value and their holders or investors or trades will lose all of their investments in them.

[red4slash]

@gunhell16, it is the risk in investment an businesses make people to be conscious about investment and business proper. If there was no risk everyone would be a negligent to their investment but because of the risk we have to be consciously doing and planning things very well. The risk in altcoins are not high, because they are much more stable than bitcoin. Fear on altcoins is the collapse in anytime. Just like some altcoins in the past which have collapsed and people funds also lost as well.  And that is one the major fear in altcoins.

Yes, maybe some people wouldn't think of something like this, like what you said about people being negligent if there is no risk. I won't talk about others, but this is my personal experience. Even though this has nothing to do with investing, there is nothing wrong with this as a lesson in investing. I once did something that I thought was careless, because I thought it was no risk at all. Even though I didn't lose anything because of my negligence, it still took away something that was supposed to be good for me.
Now, I apply it to something I do, which is investing, and now I never neglect anything even if it doesn't have a big risk.

[xzy887]

I love bitcoin hodling as well as trying to learn bitcoin. Because this is my own theoretical practice. When I learn something new about bitcoin and try to apply it to my hodling e. I can also do hodling and learn about Bitcoin. Do you think my way is right?
If you have a better way, please suggest me.

[Furious 7]

@gunhell16, it is the risk in investment an businesses make people to be conscious about investment and business proper. If there was no risk everyone would be a negligent to their investment but because of the risk we have to be consciously doing and planning things very well. The risk in altcoins are not high, because they are much more stable than bitcoin. Fear on altcoins is the collapse in anytime. Just like some altcoins in the past which have collapsed and people funds also lost as well.  And that is one the major fear in altcoins.

Actually, when talking about risk, all forms of actions that we take all have risks as well as the business or investment that is done.
Risks like this cannot be avoided because it is like a chain that cannot be interrupted in a process because when we want to make a decision we must know the consequences we have and when we are in investment then we must be aware that the risk of loss and something that is not wanted must exist. This is not to be feared but we are required if we really want good results then we must try to fight the risks we have or at least minimize so that the results we do are in accordance with our previous expectations.
bitcoin is a place of fixed risk in this case it depends on you putting yourself whether you just want to avoid it without doing anything or trying to face the risk because our goal is behind the risk we have to go through at this time.

[dunfida]

@gunhell16, it is the risk in investment an businesses make people to be conscious about investment and business proper. If there was no risk everyone would be a negligent to their investment but because of the risk we have to be consciously doing and planning things very well. The risk in altcoins are not high, because they are much more stable than bitcoin. Fear on altcoins is the collapse in anytime. Just like some altcoins in the past which have collapsed and people funds also lost as well.  And that is one the major fear in altcoins.

Actually, when talking about risk, all forms of actions that we take all have risks as well as the business or investment that is done.
Risks like this cannot be avoided because it is like a chain that cannot be interrupted in a process because when we want to make a decision we must know the consequences we have and when we are in investment then we must be aware that the risk of loss and something that is not wanted must exist. This is not to be feared but we are required if we really want good results then we must try to fight the risks we have or at least minimize so that the results we do are in accordance with our previous expectations.
bitcoin is a place of fixed risk in this case it depends on you putting yourself whether you just want to avoid it without doing anything or trying to face the risk because our goal is behind the risk we have to go through at this time.

Even on the simplest decisions made in life would really be imposing such risks and this is something that you should really be wary about and this is why it is really that important that you should really be knowing on what are the things needs to be done first before you would really be making out such decision or tending to dive on things. Knowledge is power as we do say because on the time that you've been wary on how things works then you do have already that idea on what you should gonna do but of course those knowledge could really be acquired through real experience on which we know that this isnt something that could really be acquired so easily.
On the time that you would really be making yourself that dealing up with something then knowledge could be acquired which means that on the time that you do decide some
holding then you do already have the idea on what you should gonna do.

It would really be normal that actions would really be basing up on the knowledge that you had gained. It isnt something that you could really be assure of about talking about success
but at least you do already have that idea on what are the steps that needing to be done.

[Learn Bitcoin]

I love bitcoin hodling as well as trying to learn bitcoin. Because this is my own theoretical practice. When I learn something new about bitcoin and try to apply it to my hodling e. I can also do hodling and learn about Bitcoin. Do you think my way is right?
If you have a better way, please suggest me.

I am not sure what you can do with your holding by learning new things about bitcoin except to secure it more. Once you learn something new about bitcoin, you have to do transactions to test those features. Your holding has nothing to do with it. But you can secure your wallet where you are holding your Bitcoin. For example, suppose you were holding your Bitcoin in exchanges but you learned that they don't give yo full access to your Bitcoin. So you decided to choose a new wallet that gives you your private key and you moved your Bitcoin out of exchange. That's what you can do to secure your holdings. I am unsure if you can apply anything else to your holding learning new things.

[DanWalker]

@gunhell16, it is the risk in investment an businesses make people to be conscious about investment and business proper. If there was no risk everyone would be a negligent to their investment but because of the risk we have to be consciously doing and planning things very well. The risk in altcoins are not high, because they are much more stable than bitcoin. Fear on altcoins is the collapse in anytime. Just like some altcoins in the past which have collapsed and people funds also lost as well.  And that is one the major fear in altcoins.

Are you sure about this or is this just a mistake? Because I think the opposite is more accurate, the risk of altcoins is extremely high and their volatility is also much greater than bitcoin. People are afraid of altcoins because they are too risky and can collapse at any time. When talking about altcoins, even topcoins are uncertain, they are all completely different from bitcoin.

Risk always exists around us and I believe everyone is aware of that, but because of greed, they forget about risk for a moment and end up paying a very expensive price for their greed.

[DabsPoorVersion]

I love bitcoin hodling as well as trying to learn bitcoin. Because this is my own theoretical practice. When I learn something new about bitcoin and try to apply it to my hodling e. I can also do hodling and learn about Bitcoin. Do you think my way is right?
If you have a better way, please suggest me.

I am not sure what you can do with your holding by learning new things about bitcoin except to secure it more. Once you learn something new about bitcoin, you have to do transactions to test those features. Your holding has nothing to do with it. But you can secure your wallet where you are holding your Bitcoin. For example, suppose you were holding your Bitcoin in exchanges but you learned that they don't give yo full access to your Bitcoin. So you decided to choose a new wallet that gives you your private key and you moved your Bitcoin out of exchange. That's what you can do to secure your holdings. I am unsure if you can apply anything else to your holding learning new things.

Maybe @xzy887 is referring to what he could possibly do more about his Bitcoin holding.
Not specific but I guess when he said, "Try to apply it to my holding", it was about trying new things, like making an extra income using his holdings. Possibly about staking or trading while he continues to hold and learn about Bitcoin.

[Agbe]

@gunhell16, it is the risk in investment an businesses make people to be conscious about investment and business proper. If there was no risk everyone would be a negligent to their investment but because of the risk we have to be consciously doing and planning things very well. The risk in altcoins are not high, because they are much more stable than bitcoin. Fear on altcoins is the collapse in anytime. Just like some altcoins in the past which have collapsed and people funds also lost as well.  And that is one the major fear in altcoins.

Are you sure about this or is this just a mistake? Because I think the opposite is more accurate, the risk of altcoins is extremely high and their volatility is also much greater than bitcoin. People are afraid of altcoins because they are too risky and can collapse at any time. When talking about altcoins, even topcoins are uncertain, they are all completely different from bitcoin.

Risk always exists around us and I believe everyone is aware of that, but because of greed, they forget about risk for a moment and end up paying a very expensive price for their greed.

I believed people are afraid on bitcoin because of the price movement and not any other thing, volatile nature of bitcoin make it risk for people to invest but in altcoins, me personally I am afraid of their collapse and not because of their volatile. There some time bitcoin price would $25k to $27k movement of horizontal and vertical line price but when you look at Eth, and others they would be in one place for some time and that was why I said so. And again I don't think anyone here is afraid of bitcoin collapse but they are in the neighbouring Coins. I don't know how you understand me. The risk here I am talking about is the collapse of the project and not the volatility.