When investing in Bitcoin: what to consider?

[Mrbluntzy]

First how does Bitcoin operate? Bitcoin it's a digital currency uses Blockchain technology to support transactions between users. If you know how Bitcoin operates then you will also know the consideration that comes with. And critics say Bitcoin doesn't work as a currency, Citing volatility use in illegal activity, but supporters argue that it's too early to make  some of these claims, is already fixing many of those concerns. I know their are so many things to be consider with when it comes to anything investment. Mostly concerning the highest exchange in the world. So what are your opinion towards the people that are investing in Bitcoin?

When investing in Bitcoin I consider the notice that I will make profit in the future if Bitcoin keep reaching new ATH.
I don't care what the government are saying against Bitcoin, I don't care about the criticism of Bitcoin haters, what I care about is the good thoughts that other Bitcoinist have for Bitcoin and I want to make profit just like some many investors have made profit too.

[GbitG]

Volatility, usage of Bitcoin by criminals, irreversibility of transactions, environmental impact, occasionally high transaction fees etc. can all be considered if they are important to a certain person. But I'd say that this isn't what one should start from. The initial questions should be: how much money can I afford to lose and thus can dedicate to investment? Do I believe that Bitcoin's long-term upward price trend will continue for the years to come? Which wallet should I use, and which seed storage method will I choose? Will I sell when Bitcoin gets above/below a certain point?

It it true but anyway mate you forgot to mention decentralization which is one of the most prominent features of Bitcoin because it isn't in control or isn't controllable by any country or authority or third-party service just due to the decentralized nature of Bitcoin.

What might be surprising is that some people don't like decentralization, this is the reason why they don't like Bitcoin and prefer traditional financial systems over Bitcoin and cryptocurrencies because they believe that if you can't touch or feel something, it doesn't exist. However, the thoughts of such people should change after they come to know about Bitcoin which doesn't have a physical existence but has created a big name for itself in the world.

[Fiasem20]

The government or critics will always have an opposite thought about bitcoin,if the critics say that Bitcoin is not a currency,then what's the purpose of a currency?the purpose of a currency is to make payments for goods and services.Bitcoin is used as a method of payment for goods and services just that it appears in a different way, the payment isn't physical but an online payment that's decentralized.No matter what critics will say bitcoin is a currency and also an asset for investment.

[Kelward]

We have different opinion about Bitcoin so why bother what others or critics think of it?
They don't see it as a currency then move on we don't need to force them to see it that way, we have been using it however we want (payment option or investment tool).

Bitcoin is what it is, no matter what we or anybody thinks about it, and the truth is that it's a store of value that is changing the lives of it's holders, so it's a gem that is not hidden, only the bold takes advantage of it's values. The world has evolved, from trade by bater, to valuables like gold and silver, to fiat currencies, now we're in the digital age, and Bitcoin, being a digital cash is taking over the naretive as the future currency. Some people and governments like to remain in their comfort zones, where they'll continue to do things the old ways, but they forget that the only thing that's permanent in this world is change.

[LDL]

the critics say that Bitcoin is not a currency,then what's the purpose of a currency?the purpose of a currency is to make payments for goods and services.

,if Bitcoin is used as a method of payment for goods and services just that it appears in a different way, the payment isn't physical but an online payment that's decentralized.

Bitcoin is a currency as well as an asset. Bitcoin is accepted in a small number of countries around the world and will be considered as Bitcoin currency in those countries. For example, in El Salvador, Bitcoin is accepted and everyday services and products can be exchanged for Bitcoin, in which case Bitcoin will be used as a currency. As my country Bangladesh has strict ban on Bitcoin and we cannot exchange any product or service in exchange of Bitcoin, in this case I don't understand whether Bitcoin should be declared as a currency in general in my country. But while Bitcoin may not be recognized as a currency to me, it will definitely be recognized as a valuable asset.

[Iranus]

Volatility, usage of Bitcoin by criminals, irreversibility of transactions, environmental impact, occasionally high transaction fees etc. can all be considered if they are important to a certain person. But I'd say that this isn't what one should start from. The initial questions should be: how much money can I afford to lose and thus can dedicate to investment? Do I believe that Bitcoin's long-term upward price trend will continue for the years to come? Which wallet should I use, and which seed storage method will I choose? Will I sell when Bitcoin gets above/below a certain point?

It it true but anyway mate you forgot to mention decentralization which is one of the most prominent features of Bitcoin because it isn't in control or isn't controllable by any country or authority or third-party service just due to the decentralized nature of Bitcoin.

What might be surprising is that some people don't like decentralization, this is the reason why they don't like Bitcoin and prefer traditional financial systems over Bitcoin and cryptocurrencies because they believe that if you can't touch or feel something, it doesn't exist. However, the thoughts of such people should change after they come to know about Bitcoin which doesn't have a physical existence but has created a big name for itself in the world.

You also don't need to be surprised that some people don't like decentralization because nothing is so perfect that it has no disadvantages. For law-abiding people, or those who are not confident in their ability to preserve their own assets, it is understandable that they trust banks and centralized organizations. Just like our parents' generation, banks and governments are ingrained in their subconscious and whether you introduce bitcoin or decentralization to them, they will not care and will continue to trust the government. The world is full of color and we cannot force people to think like us or impose our thoughts on others.

[SmartGold01]

You also don't need to be surprised that some people don't like decentralization because nothing is so perfect that it has no disadvantages. For law-abiding people, or those who are not confident in their ability to preserve their own assets, it is understandable that they trust banks and centralized organizations. Just like our parents' generation, banks and governments are ingrained in their subconscious and whether you introduce bitcoin or decentralization to them, they will not care and will continue to trust the government. The world is full of color and we cannot force people to think like us or impose our thoughts on others.

It's hard to believe in most things especially now that the world is evolving there are people who are so premitive to accept that anything is possible and of course you can have them to be blamed because anyone who isn't exposed and doesn't accept that anything is possible would also think this way. Perfection is based on understanding especially in terms of digitalization, all we need is to gradually build trust and start using it along the line we could see the perfection in what we are using.

[kotajikikox]

Volatility, usage of Bitcoin by criminals, irreversibility of transactions, environmental impact, occasionally high transaction fees etc. can all be considered if they are important to a certain person. But I'd say that this isn't what one should start from. The initial questions should be: how much money can I afford to lose and thus can dedicate to investment? Do I believe that Bitcoin's long-term upward price trend will continue for the years to come? Which wallet should I use, and which seed storage method will I choose? Will I sell when Bitcoin gets above/below a certain point?

It it true but anyway mate you forgot to mention decentralization which is one of the most prominent features of Bitcoin because it isn't in control or isn't controllable by any country or authority or third-party service just due to the decentralized nature of Bitcoin.

What might be surprising is that some people don't like decentralization, this is the reason why they don't like Bitcoin and prefer traditional financial systems over Bitcoin and cryptocurrencies because they believe that if you can't touch or feel something, it doesn't exist. However, the thoughts of such people should change after they come to know about Bitcoin which doesn't have a physical existence but has created a big name for itself in the world.

You also don't need to be surprised that some people don't like decentralization because nothing is so perfect that it has no disadvantages. For law-abiding people, or those who are not confident in their ability to preserve their own assets, it is understandable that they trust banks and centralized organizations. Just like our parents' generation, banks and governments are ingrained in their subconscious and whether you introduce bitcoin or decentralization to them, they will not care and will continue to trust the government. The world is full of color and we cannot force people to think like us or impose our thoughts on others.

People do not like unknown things. Anything unknown seem to be scary for people so the concept of decentralization is something they are afraid of even if it just literally means you have full control of your money and no one is involved in controlling it for you besides yourself.they just need to be taught properly but if they do not want to listen then so be it.

[CCMS]

You should consider the safety and the length of the holding. Short terms may also give you quick gains but in long run you will have good profit.

[serjent05]

So what are your opinion towards the people that are investing in Bitcoin?

My opinion towards the people who are investing in Bitcoin is that the majority of them are spending money to accumulate Bitcoin to make a profit one day.  There are only a few that use Bitcoin as a currency, many of the investors are attracted to Bitcoin because of the potential profit they can get if they hold for it for some time and sell at a target price.

As for the title, I think one should consider they financial capability when investing in Bitcoin.  They should make sure that they have more than enough money to sustain their needs while holding Bitcoin so that they won't be in a situation where they have to sell their holdings at a loss due to emergency needs.

You should consider the safety and the length of the holding. Short terms may also give you quick gains but in long run you will have good profit.

Aside from that he should also consider his knowledge about the securities and safety of his holdings.  He must learn the curve of keeping Bitcoin safely.  There are many instructions online that can guide him in securing his Bitcoin holdings.

[ancafe]

The government or critics will always have an opposite thought about bitcoin,if the critics say that Bitcoin is not a currency,then what's the purpose of a currency?the purpose of a currency is to make payments for goods and services.Bitcoin is used as a method of payment for goods and services just that it appears in a different way, the payment isn't physical but an online payment that's decentralized.No matter what critics will say bitcoin is a currency and also an asset for investment.

Don't think too much about it when we get involved in bitcoin investment because people who have a negative view of bitcoin will continue to make the opposite effort. Investing in bitcoin also has no relationship with the government because we can do it ourselves responsibly even though we live in a country that prohibits bitcoin completely. We just need to act carefully and it is better to be anonymous for the security measures we implement.

Not many places accept payments using bitcoin and many more are not available. Avoid something that causes problems for us because many countries prohibit payments using bitcoin. Let's put aside Bitcoin as a currency first because not many places implement and recommend the benefits of Bitcoin as an investment step.

[MusaMohamed]

As for the title, I think one should consider they financial capability when investing in Bitcoin.  They should make sure that they have more than enough money to sustain their needs while holding Bitcoin so that they won't be in a situation where they have to sell their holdings at a loss due to emergency needs.

People can spend money to buy bitcoin but will it be considered as an investment or a gamble, it will depend on their financial status and position when they purchase bitcoin and their plan for their finance in future.

If they use their savings, better part of their savings, to invest in bitcoin, it is an actual investment because they have other money to use, from their savings, from their salary for other spendings and won't have to touch their bitcoins.

If they use all money they have to purchase bitcoin, without any saving left for other spendings, they will have to sell their bitcoins each month or each week, to use for other spendings, it is no longer considered as an actual investment but more like a gamble.

Aside from that he should also consider his knowledge about the securities and safety of his holdings.  He must learn the curve of keeping Bitcoin safely.  There are many instructions online that can guide him in securing his Bitcoin holdings.

Not their private keys, not their bitcoin. Knowing this warning will help them to choose non custodial and open source wallet to store their bitcoin.
Reminder: do not keep your money in online accounts
Recommended Bitcoin wallets

Wallet Basics:

Do not use wallets that don't give you recovery data; these wallets are likely controlling your keys.
Do not use paper wallets unless you're an advanced user who understands all the risks.
Do not store large amounts of value in single signature wallets.
Make sure your heirs know how to recover your wallets without you!

Choose a wallet
https://bitcoin.org/en/choose-your-wallet

Check wallet review
https://walletscrutiny.com/

[Smack That Ace]

As for the title, I think one should consider they financial capability when investing in Bitcoin.  They should make sure that they have more than enough money to sustain their needs while holding Bitcoin so that they won't be in a situation where they have to sell their holdings at a loss due to emergency needs.

There are a lot of things that need to be considered before we invest in bitcoin and listing all those factors I think would be very long. I agree with you, in investing, profit and risk are the things we all care about first, so it can be said that considering our financial capability is what we need to pay attention to the most and most importantly.

Bitcoin is a very volatile investment, it can generate huge profits but can also make us lose, so only invest with idle money, that is something we should consider and consider. As long as we have not solved the problem of capital for investment, do not rush to consider other factors because capital is the most important thing when it comes to investment.

[rodskee]

You should consider the safety and the length of the holding. Short terms may also give you quick gains but in long run you will have good profit.

exactly and since he is specifically investing in Bitcoin then that must be safer comparing to
altcoins in which there are tons of numbers considered as shitcoin or trash coins so better settle in bitcoin
with Longer term than just short term that mostly the return is tin that  you should also consider the fee
when taking it out so yes try to buy bitcoin now while its cheap and keep holding for at least a year or 4 .

[Iranus]

Volatility, usage of Bitcoin by criminals, irreversibility of transactions, environmental impact, occasionally high transaction fees etc. can all be considered if they are important to a certain person. But I'd say that this isn't what one should start from. The initial questions should be: how much money can I afford to lose and thus can dedicate to investment? Do I believe that Bitcoin's long-term upward price trend will continue for the years to come? Which wallet should I use, and which seed storage method will I choose? Will I sell when Bitcoin gets above/below a certain point?

It it true but anyway mate you forgot to mention decentralization which is one of the most prominent features of Bitcoin because it isn't in control or isn't controllable by any country or authority or third-party service just due to the decentralized nature of Bitcoin.

What might be surprising is that some people don't like decentralization, this is the reason why they don't like Bitcoin and prefer traditional financial systems over Bitcoin and cryptocurrencies because they believe that if you can't touch or feel something, it doesn't exist. However, the thoughts of such people should change after they come to know about Bitcoin which doesn't have a physical existence but has created a big name for itself in the world.

You also don't need to be surprised that some people don't like decentralization because nothing is so perfect that it has no disadvantages. For law-abiding people, or those who are not confident in their ability to preserve their own assets, it is understandable that they trust banks and centralized organizations. Just like our parents' generation, banks and governments are ingrained in their subconscious and whether you introduce bitcoin or decentralization to them, they will not care and will continue to trust the government. The world is full of color and we cannot force people to think like us or impose our thoughts on others.

People do not like unknown things. Anything unknown seem to be scary for people so the concept of decentralization is something they are afraid of even if it just literally means you have full control of your money and no one is involved in controlling it for you besides yourself.they just need to be taught properly but if they do not want to listen then so be it.

Aside from bitcoin investors, I bet the rest of the world has never heard of or cared about decentralization, bitcoin has only existed for 15 years, the concept of decentralization is still too new.

Indeed, things take time to become popular, many bitcoin investors have become too impatient to expect everyone to accept decentralization when the concept is only 15 years old. Not to mention, as I said, everything has pros and cons, decentralization is not perfect and each person will have their own choice. We need to respect each other's decisions, don't try to impose our thoughts on others.

[Oasisman]

First how does Bitcoin operate? Bitcoin it's a digital currency uses Blockchain technology to support transactions between users. If you know how Bitcoin operates then you will also know the consideration that comes with. And critics say Bitcoin doesn't work as a currency, Citing volatility use in illegal activity, but supporters argue that it's too early to make  some of these claims, is already fixing many of those concerns. I know their are so many things to be consider with when it comes to anything investment. Mostly concerning the highest exchange in the world. So what are your opinion towards the people that are investing in Bitcoin?

We can cut out the bitcoin critics about being used for illegal activities because fiat currency and other form of digital currencies were all being used for illegal transactions long before the existence of bitcoin.
Who ever says bitcoin is not a currency might start his own research and check the market, merchants, and any other companies that accepts bitcoin for their service. I'm sure he'll plenty of those.
Now, for you main question ; first thing to consider when investing bitcoin is to be financially ready before you buy your first bitcoin. That means, you need to have back up funds, emergency funds, savings, or whatever funds you call it, in order for you to avoid sudden bitcoin withdrawals (which may incur losses especially during bear market) when you need funds for emergency. To cut things short, you need to invest what you can afford to lose. That is the very basic rule of investment, but people tend to overlook the deeper meaning of it.

[yazher]

Bitcoin is a very volatile investment, it can generate huge profits but can also make us lose, so only invest with idle money, that is something we should consider and consider. As long as we have not solved the problem of capital for investment, do not rush to consider other factors because capital is the most important thing when it comes to investment.

When you always stick to the golden rule about investing only what you can afford to lose even if it's little as long as you decide to invest in it for the long term, you will eventually become successful and also while you are holding some bitcoins, you need to make sure that you have all the knowledge how to prevent yourselves from getting hack of getting victims to those exchanges that are suddenly close. Having enough patience and knowing where to go to catch positivity when the crypto market is not looking well is also an important aspect of this journey because people are panicking when they see all-red in the crypto market while others are just chilling because they know exactly when it would gonna happen.

[Baki202]

The government or critics will always have an opposite thought about bitcoin,if the critics say that Bitcoin is not a currency,then what's the purpose of a currency?the purpose of a currency is to make payments for goods and services.Bitcoin is used as a method of payment for goods and services just that it appears in a different way, the payment isn't physical but an online payment that's decentralized.No matter what critics will say bitcoin is a currency and also an asset for investment.

one of the enemies that the government thinks they have today is bitcoin because they want to regulate it by all means and they think that will happen because in my country, currently, they are not making investing in bitcoin easy. and even going to the extent of making exchanges remove p2p, they are feeling as if Bitcoin is behind the fall of our currency, and if it is the way they are going about it, they are just trying to create more problems because if they get rid of all the p2p, there will be alternatives, and things will eventually get worse. because they wont have anything to lay their hands on. because they can not hold anyone responsible. I wonder where these people get their advisers from.

They are not even trying to look at the good side of Bitcoin all they are putting their focus on is the negative side of it, They are not looking at the opportunities it has given them they can provide jobs but they are trying to fight the opportunity and its usage. they don't want to learn from countries that are making use of Bitcoin as a legal tender. and a lot of people consider profit to be the secondary goal of involvement.

[Bloodseekers]

When you always stick to the golden rule about investing only what you can afford to lose even if it's little as long as you decide to invest in it for the long term, you will eventually become successful and also while you are holding some bitcoins, you need to make sure that you have all the knowledge how to prevent yourselves from getting hack of getting victims to those exchanges that are suddenly close. Having enough patience and knowing where to go to catch positivity when the crypto market is not looking well is also an important aspect of this journey because people are panicking when they see all-red in the crypto market while others are just chilling because they know exactly when it would gonna happen.

When someone makes an investment, of course they must actually use funds that they do not need for other purposes and also if they fail in the investment they make then this will not cause them to experience financial difficulties as a result of the investment they make and hinder their investment in the long term. Of course, this is very important because they have to be patient in order to get a profit from what they invest.

To be patient in investing, of course we must first understand the investment well and it is absolutely impossible for someone to persist in investing without properly understanding the investment they are making, that is what is experienced by those who panic when they see the price. Bitcoin is decreasing because they don't understand how it works. Bitcoin is good and for some people who understand it well, there are also those who take advantage of this opportunity to be able to collect more than usual so they can profit from the investments they make.

[Woodie]

Honestly, I don't think everyone  out there before investing in Bitcoin needs to know how it works or how to use it  unless you are a hands on person and inquisitive enough to want to know your way around BTC , for the guys with big pockets...these will get financial advisors to do the heavy lifting for them and will invest in BTC without even knowing the mechanics of BTC itself .