Bitcoin is risky

[AirtelBuzz]

Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him.

Bitcoin investment is risky due to its volatility. Investors should acknowledge that there are risks involved regardless of whether they invest in any of the coins in the cryptocurrency market. Bitcoin is no exception.

New investors should keep in mind that investing in Bitcoin is not a get-rich-quick scheme. Newbies need to be experienced about investing and know about market analysis and market volatility before investing. OP If you are able to explain the difference between bitcoin and altcoin to your friend, he won't consider bitcoin as too risky. We may see in the crypto market Altcoins are more volatile than Bitcoin. Moreover, since the price of Bitcoin has continuously increased since its creation, many people may be tempted to invest in this currency by seeing this trend of price increase.

[Wind_FURY]

Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him.

Bitcoin investment is risky due to its volatility. Investors should acknowledge that there are risks involved regardless of whether they invest in any of the coins in the cryptocurrency market. Bitcoin is no exception.

It's absolutely volatile. But if you're merely HODLing Bitcoin with a low time-preference strategy, then would it actually be that risky?

https://bitcoin.zorinaq.com/price/

New investors should keep in mind that investing in Bitcoin is not a get-rich-quick scheme. Newbies need to be experienced about investing and know about market analysis and market volatility before investing. OP If you are able to explain the difference between bitcoin and altcoin to your friend, he won't consider bitcoin as too risky. We may see in the crypto market Altcoins are more volatile than Bitcoin. Moreover, since the price of Bitcoin has continuously increased since its creation, many people may be tempted to invest in this currency by seeing this trend of price increase.

Or fiat currencies, what they actually are, and the Cabal's predisposition to inflate its supply. I believe that will be enough to make his friend save some percentage of his/her salary in Bitcoin.

[doomloop]

With so many wallet options available that we can use after going through the research process, for us, dealing with technical matters such as transactions has become a common thing to do while getting to know Bitcoin. Meanwhile, the process that you convey is the ease of using Bitcoin, if you choose the wrong wallet, then what we feel is an ease can become a problem.

Honestly if you have a bit of bitcoin, then going with something like ledger nano S isn't really that complicated to learn how to use. I normally do not give brand name because that's the only thing that matters, it sounds like marketing and then people ignore your comment when you say it, and because of that I try to avoid it as much as I possibly can and because of that I end up with no brand names normally.

However, they are the biggest and by far the best, if you want you can prefer Trezor too, but I do not know many other to be fair. This is why I think it's quite obvious that we should be considering this situation to be as normal as it gets, and we could make a profit whenever we possibly could get something decent for time.

[Shadiq]

Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him.

Bitcoin investment is risky due to its volatility. Investors should acknowledge that there are risks involved regardless of whether they invest in any of the coins in the cryptocurrency market. Bitcoin is no exception.

New investors should keep in mind that investing in Bitcoin is not a get-rich-quick scheme. Newbies need to be experienced about investing and know about market analysis and market volatility before investing. OP If you are able to explain the difference between bitcoin and altcoin to your friend, he won't consider bitcoin as too risky. We may see in the crypto market Altcoins are more volatile than Bitcoin. Moreover, since the price of Bitcoin has continuously increased since its creation, many people may be tempted to invest in this currency by seeing this trend of price increase.

First of all don't call Bitcoin an Altcoin, it's misleading. Bitcoin's price recovery sets it apart from all other altcoins. Yes, like Altcoins, Bitcoin also has risks as both markets are equally volatile. But you need to understand that market volatility is not the reason for risk, a coin becomes risky considering price recovery. If you plan on Bitcoin long term, I can almost guarantee that Bitcoin is not risky for you. I can't make such a guarantee on any other crypto, I can only question whether anyone else would dare to. But if you plan on Bitcoin short-term, its use is more likely to be similar to other cryptos. There is no mistaking that Bitcoin is risky in the short term.

[letteredhub]

Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him.

For we that have been in the crypto community for some time now we will be able to well appreciate the volatility of bitcoin when compared to altcoins for us to say bitcoin is less risk or no risky to an extend base on how you go about it with investing in it. The knowledge we already have makes us to know how to navigate around the risk which those outside are scared of due to their ignorance and shitty talks they get from bitcoin haters.  With how viral the word bitcoin has gone there's no much need stressing on convincing anyone about investing, it's about them doing their own research and getting back with whatever choice they make after that.

[hyudien]

Yeah, it is good we tell people the true nature of bitcoin. Because most people have that notion that bitcoin is a get rich quick scheme where you invest and make alot of profit, some people has also had the information that bitcoin is risky but never knew what makes it risky but telling them the true nature of bitcoin defines a good friend. You can include telling him about the early days of bitcoin when it was less than a cent and how it grew to $73k in the future. how buying and HODLing for long is more important than just thinking about the risk. Although it may be risky since it is volatile, but it's volatile nature make it increase as Time passes by. There is no business that is not risky so bitcoin is not an exception.

Everything has its risks, right? If people still think Bitcoin is very dangerous, high risk or other negative things then they will never succeed in investing in any asset even though the risk level is low. It is very difficult to convince them like the Chinese proverb where there is a frog sitting at the bottom of a well looking up at the sky through the circle of the well and he thinks that the sky is only that wide. But in reality he does not know if he does not rise to the surface. Even if he sees Bitcoin from a small perspective, he will not know how wide and big Bitcoin will be in the future. 🤫

[Viscore]

Do not lie to people about what crypto is just so they would not think of it as something not worthwhile.

Why will I lie about crypto? I'm going to tell anyone I'm introducing to crypto everything they need to know, and then it’s left for them to invest or not. I can’t lie to anyone just because I want them to invest, if they join and things don’t go well, I'm going to be blamed for that, and I will end up being a bad person to those people, so it’s just better if I tell them the truth. Yes, I know crypto is risky, but all investment is risky, and not only crypto, so any investment you trying to venture into has risk involved in it.
 
If I tell anyone about bitcoin, if they are interested in it, then it’s fine, and if they are not interested, that’s their problem, I can’t force anyone to invest.

Yes, lying about bitcoin just for others to invest would only mean putting the blame on me when everything's not working out. So I won't definitely do that, it would only bring stress for me if ever.

Bitcoin is indeed more risky than other investments. But you know what, the more risky it gets, the bigger possible returns in the future, and that's actually possible with bitcoin if you only know how to manage those risks and make it as your advantage.

[kawetsriyanto]

It's absolutely volatile. But if you're merely HODLing Bitcoin with a low time-preference strategy, then would it actually be that risky?
https://bitcoin.zorinaq.com/price/

Bitcoin price is surely volatile. There is no doubt and no debate about it.

Factors influence volatility


investopedia

Regarding how risky it is, it will depend on the holder's capability and what investment type to choose (short or long term).
For the long term holding, I think we agree that Bitcoin investment isn't as risky as people assume. According the price growth history, Bitcoin never lied us to keep growing very well. People who assume it is too/very risky, they probably don't learn the Bitcoin price history yet.

Bitcoin is indeed more risky than other investments.

What other investments do you refer to?
I don't think so. Bitcoin even becomes the most profitable asset if we compared with others assets/investments.
Kindly check again the data of the research: https://smartvalor.com/sv/news/bitcoin-traditional-assets

Bitcoin return compared to traditional assets

[ThemePen]

Yeah, it is good we tell people the true nature of bitcoin. Because most people have that notion that bitcoin is a get rich quick scheme where you invest and make alot of profit, some people has also had the information that bitcoin is risky but never knew what makes it risky but telling them the true nature of bitcoin defines a good friend. You can include telling him about the early days of bitcoin when it was less than a cent and how it grew to $73k in the future. how buying and HODLing for long is more important than just thinking about the risk. Although it may be risky since it is volatile, but it's volatile nature make it increase as Time passes by. There is no business that is not risky so bitcoin is not an exception.

I totally agree with you. We need to tell people truth about Bitcoin. Many think it is way to get rich fast but that is not true. We need to explain risks so they understand. Sharing Bitcoin story how it started small and grew big can help. We should encourage people to invest for long term not just think about risks. Bitcoin value can go up and down but that is what makes it grow over time. Every investment has risks but Bitcoin rewards can be big. By being honest about Bitcoin we can help others make smart choices and benefit from this new technology.

[uneng]

Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable.

Cryptocurrencies are volatile, but at same time Bitcoin has been performing nicely on long run, so it's a good indicative in the end. You can defend Bitcoin without lying, just by showing people the evidences which corroborate to the points you are trying to make. It's just important to let it very clear that each investor is responsible for his own decisions and outcomes. You can't be blamed for anything futurely if a friend of yours decided investing in Bitcoin after talking to you regards this subject, because after all it was his personal choice.

[ChiBitCTy]

One big problem with bitcoin, and it certainly seems to be one in this thread from all the posts I’ve been reading, is that too many people just equate Bitcoin with and investment, rather than looking at it as a digital currency, a breakthrough technology that utilizes a decentralized ledger, the blockchain, that could change many aspects in the way of how we transact (among other things). This is what we should be discussing.

[SickDayIn]

This is a good opportunity to educate your friend. Crypto only appears volatile because the fiat within which it is traded for and paired with, has inherent weaknesses. Crypto does move regularly on a daily basis, because it's a 24/7 market with no rules or circuit breakers. The week by week progression of crypto is a better indication.

[tottong]

Cryptocurrencies are volatile, but at same time Bitcoin has been performing nicely on long run, so it's a good indicative in the end. You can defend Bitcoin without lying, just by showing people the evidences which corroborate to the points you are trying to make. It's just important to let it very clear that each investor is responsible for his own decisions and outcomes. You can't be blamed for anything futurely if a friend of yours decided investing in Bitcoin after talking to you regards this subject, because after all it was his personal choice.

Everyone has responsibility for the decisions they make and it should not affect the attitude of others.
Explaining the function and benefits of investing to people is quite risky and when the dreams or hopes they want do not come true then they will try to blame us.
Investments must be carried out responsibly and anyone who wants to get involved in it must try to understand how to run investments properly. In the end every decision must be seen from the ability to be responsible because investment requires money to run.

If you intend to teach people to invest then they should be prepared for all the risks that will occur.
Although if you pay attention to bitcoin has made quite rapid progress, we need to provide the right education to run it.

[bubilas]

This is a good opportunity to educate your friend. Crypto only appears volatile because the fiat within which it is traded for and paired with, has inherent weaknesses. Crypto does move regularly on a daily basis, because it's a 24/7 market with no rules or circuit breakers. The week by week progression of crypto is a better indication.

The main thing is not to forget that in the cryptocurrency market you can significantly reduce your deposit, so it is better not to forget the main rule: "buy low, sell high". After all, psychologically we all really like to follow the crowd, and "be the last to board the rocket".
And in the crypto market, it is important to have your own opinion, and it does not necessarily coincide with the opinion of the crowd.

[Wind_FURY]

It's absolutely volatile. But if you're merely HODLing Bitcoin with a low time-preference strategy, then would it actually be that risky?
https://bitcoin.zorinaq.com/price/

Bitcoin price is surely volatile. There is no doubt and no debate about it.

Factors influence volatility


investopedia

Regarding how risky it is, it will depend on the holder's capability and what investment type to choose (short or long term).

For the long term holding, I think we agree that Bitcoin investment isn't as risky as people assume. According the price growth history, Bitcoin never lied us to keep growing very well. People who assume it is too/very risky, they probably don't learn the Bitcoin price history yet.

Plus it's not merely about the length of holding, or about the time-preference. It's also about Bitcoin as new technology and its potential to change the world by leading a new surge in a new kind of asset class. The invention of Bitcoin might be something parallel to the invention of the printing press, radio, the telephone, and the internet which changed the world in their own ways, giving new paths of possibilities.

It might be "too risky", but it's a risk that should be taken that would move us forward in my personal opinion.

[Sebas.tian]

Yeah, it is good we tell people the true nature of bitcoin. Because most people have that notion that bitcoin is a get rich quick scheme where you invest and make alot of profit, some people has also had the information that bitcoin is risky but never knew what makes it risky but telling them the true nature of bitcoin defines a good friend. You can include telling him about the early days of bitcoin when it was less than a cent and how it grew to $73k in the future. how buying and HODLing for long is more important than just thinking about the risk. Although it may be risky since it is volatile, but it's volatile nature make it increase as Time passes by. There is no business that is not risky so bitcoin is not an exception.

Once you speak the true nature of Bitcoin to people around you or to those people you want to impact about Bitcoin, it will make them comfortable to take the risk to embrace the Bitcoin, because there is a benefits to those that will be able to take the risk to invest their funds. If you can be able to explain the bullish season and bearish season to such people, I think they will not ignore your Bitcoin explanation, because they will understand that, if they purchase Bitcoin during the bearish season and hold for long, it will make them to like the risk involved in Bitcoin. Every good investment has risk which people must undergo before they can achieve what they want from the investment which is the same thing with Bitcoin investment, because you need to embrace the risk to be able to succeed in the bullish season.

[summonerrk]

Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not.

Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying.

Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him.

Many people discuss that Bitcoin provides an excellent way to multiply the deposit: I am talking about compound interest. I mean that if you buy cheap and sell expensive several times, your deposit will multiply, no matter what its size.
But few people think that if a trader does not guess the price movement several times, he will also lose in percentage of his deposit and this is a big risk.

[Marvell1]

One big problem with bitcoin, and it certainly seems to be one in this thread from all the posts I’ve been reading, is that too many people just equate Bitcoin with and investment, rather than looking at it as a digital currency, a breakthrough technology that utilizes a decentralized ledger, the blockchain, that could change many aspects in the way of how we transact (among other things). This is what we should be discussing.

In today's modern world, when everything is valued in terms of money, people without money will not be respected and will find it difficult to survive. So there is nothing wrong with people focusing on exploiting the volatility aspect of bitcoin to make a profit.

In your opinion, is money more important or is your privacy more important? If you don't have money, no one will care or notice whether you live or die, let alone care about your privacy. I know and everyone knows bitcoin was created to be a currency, a peer to peer payment method but we should adapt to the current situation instead of trying to fight it because that will not benefit us.



Also, it doesn't matter what bitcoin is, what matters is that it benefits people even as an investment. Bitcoin is doing so well because it can help many people improve their lives. Is that not enough?

[benalexis12]

Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not.

Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying.

Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him.

If we only focus on Bitcoin, it is normal to be risky because it is a volatile asset, but just remember that even though Bitcoin is volatile, there are many opportunities to profit from this thing. But that's not that easy because you still need knowledge of trading.

Because you know that being a trader, you must have an idea or know that it's not possible just because someone said this, that's what you'll believe because you don't know anything and you'll just rely on luck, because if you or they do something like this, it will come out that will only take you to Fomo for sure in the end.

[lixer]

One big problem with bitcoin, and it certainly seems to be one in this thread from all the posts I’ve been reading, is that too many people just equate Bitcoin with and investment, rather than looking at it as a digital currency, a breakthrough technology that utilizes a decentralized ledger, the blockchain, that could change many aspects in the way of how we transact (among other things). This is what we should be discussing.

Yes, this can be a really debatable topic as Bitcoin's popularity grows and more people become aware of the coin. Hence, it is becoming a great source of future investment and like a savings project. Considering Bitcoin's past and present performance, people are increasingly leaning towards holding Bitcoin for the long term and maximizing its benefits.

I fear that if bitcoins start to be stored, the daily transactions of bitcoins will be reduced to nothing and everyone will save their bitcoins. People seem to be drifting away from the real purpose of Bitcoin's creation.

And there is a need to explain the real purpose of Bitcoin to people because a machine no matter how valuable it is if it is not used for the purpose it is designed for, one day it will be useless.