People I think should stay away from bitcoin investment.

[Joy- maker]

Investing in bitcoin is not a do or die affairs we all know that  investing in bitcoin is very profitable, because bitcoin is a store of value with potential returns, and it can also be risky.

Alot of people are interested to invest in bitcoin but they don't have what it's takes to build a solid investment portfolio to hold for long term of 4 to 10 years, that's why i created this thread to highlight people that should stay away from investing in bitcoin in other for them not to be damage emotionally and end up regretting.

Those who can't afford potential looses and are not comfortable with the market volatility should just stay away from investing in bitcoin, for the game in bitcoin investment is not for them

Those seeking for short term profits should just stay way from bitcoin investment, for Bitcoin investment doesn't give short term profits, where those category of people belong is cryptocurrency trading and not bitcoin investment.

Those who are lacking emergency funds, living in paycheck to paycheck, and struggling with depts should just avoid bitcoin investment or they we end up investing nothing but regret, because they can never accumulate a good portion of bitcoin to hold for long term, or they we end up selling their bitcoin investment at early stage, because of emergencies that may arise along the line.

Knowledge and understanding are also essential in bitcoin investment, so those who lack knowledge and understand about bitcoin investment should just avoid it, because if they invest in bitcoin with ignorance sorry is their name.

[Faisal2202]

Btc is the best coin to make long term investments but it is also a good choice for short term profits even if you are not doing leverage trading you can make short term profits from BTC, and if you are saying, a person who can't control their emotions they should stay away from btc, that's not advisable because the safest investment is BTC and if a person can't control their emotions in BTC investment they can't control it in alts market.

They just won't survive, it does not mean all of them just the newbies who can't control their emotions, BTC is not a rich scheme. We should face the losses to learn the market, by fearing and not giving a chance we can't learn anything, you want to learn, run a node, test wallets, platforms providing services to btc holders, it's not always about profit.

[Darker45]

In short, Bitcoin isn't for everybody. The problem is that there are so many people who jump right into it without doing a quick due diligence. Especially during a bull run when Bitcoin is all over the news highlighting its price increase, many start buying without understanding anything.

One thing you're missing, however, is the responsibility that accompanies a Bitcoin investment. To invest in Bitcoin is to be your own bank. That requires you to at least understand how keeping Bitcoin is properly done. If you don't want to spend time and effort understanding wallets and private keys and whatnot, Bitcoin is also not for you.

[SquirrelJulietGarden]

Bitcoin investment is not a do or die affairs we all know that  bitcoin investment is very profitable, because bitcoin is a store of value with potential returns, and it can also be risky.

Everything has risk, more or less, but in cryptocurrency market, Bitcoin has less risk compares to many altcoins.

Alot of people are interested to invest in bitcoin but they don't have what it's takes to build a solid investment portfolio to hold for long term of 4 to 10 years

Bitcoin by design made by Satoshi Nakamoto in 2009, has its Bitcoin block subsidy halvings every 210,000 blocks. This is about 4 years which are also time length of one Bitcoin market cycle.

There is no perfect time period to get profit, but if you can invest money in Bitcoin, hold it for a little bit longer than 1 market cycle, you will have good profit. History of Bitcoin market says so but if you doubt about it, you can check.

https://hodl.camp/
https://charts.bitbo.io/yearly-candles/
https://www.bitcoinmagazinepro.com/charts/bitcoin-profitable-days/

[jcojci]

One more thing, those who don't want to learn more details about Bitcoin investing before they joined. This is the important thing I think because without they learn, they will not know what they need to do. They will not accept when their money value reduce because of the price is down, they are panic and difficult to manage their emotion, they can't hodl for one or two cycle, etc.

If they want to search for a short term profit, they must learn about trading so they can trade without a problem. But they must know that the market is unstable. Those who lack knowledge of Bitcoin investment better not to try to invest in Bitcoin.

[Reatim]

Those who can't afford potential looses and are not comfortable with the market volatility should just stay away from bitcoin investment, for the game in bitcoin investment is not for them

i think instead of preventing this type of people from getting into bitcoin maybe they should just change their mindset and only invest what they can so that they are not too anxious and stressed about losing too much money because investment is important and we have an opportunity in our hands

Knowledge and understanding are also essential in bitcoin investment, so those who lack knowledge and understand about bitcoin investment should just avoid it, because if they invest in bitcoin with ignorance sorry is their name.

or maybe they should just learn more

the things you mentioned are all characteristics where one can change they can develop themselves to ensure success in bitcoin investment or trading so if you notice yourself in here there are so many ways to still participate and invest in bitcoin. that is the beauty of bitcoin rich or poor you can find a way to have an investment of your own

[tabas]

The first rule of investing is this;

- Do not invest in what you don't know.

And that's why everything we invest in that we don't know leads to actual losses from just being potential losses. Those who have seen how Bitcoin works and understand it the way it is are the ones who decided to hold it for the long term. But it doesn't mean that the short-term folks don't understand it, they just chose the shorter path and they might be back for long-term holding too once they have profited from it. So, going back to the first rule, an ignorant investor is bound to losses.

[Halime Anatolia]

The first rule of investing is this;

- Do not invest in what you don't know.

And that's why everything we invest in that we don't know leads to actual losses from just being potential losses. Those who have seen how Bitcoin works and understand it the way it is are the ones who decided to hold it for the long term. But it doesn't mean that the short-term folks don't understand it, they just chose the shorter path and they might be back for long-term holding too once they have profited from it. So, going back to the first rule, an ignorant investor is bound to losses.

Yes, it is a winning strategy but if we look at it now there is a change in the cycle, they will temporarily move to coins other than BTC, perhaps with that temporary choice will be faster than compared to other asset classes.

[_act_]

Knowledge and understanding are also essential in bitcoin investment, so those who lack knowledge and understand about bitcoin investment should just avoid it, because if they invest in bitcoin with ignorance sorry is their name.

Is their anything that someone should invest on that the person should not have learned about its investment before investing? Even gold and others that are very safe assets should first be studied very well before investing in any of them. It is not just bitcoin but everything you want to invest on.

About bitcoin investment, if you do not panic and sell and if you can be able to wait long term, the price of bitcoin will increase and later go above the price you invested in it. That is why such assets are referred to assets of increasing value because in long period of time, the price of bitcoin would have increased.

[Cypherpunkz]

That means there are only 4 types of people who should stay away from Bitcoin. If it had to be the order of most must & least must, then it should be:

1. People who lack knowledge & understanding.
2. People who are in bad financial condition.
3. People who cannot afford the potential for loss.
4. People looking for short term profits.

[apogio]

Those who are lacking emergency funds, living in paycheck to paycheck, and struggling with depts should just avoid bitcoin investment

In this case, they should reconsider their entire financial strategy. There are simple rules that objectively help people and should be followed in the following order:

1. repay your short-term debts.
2. build an emergency fund. The size of the "emergency fund" is completely subjective and depends on the individual's financial status (expenses, salary, personal life etc).
3. have a plan to repay your long-term debts.
4. invest

Some tips:
(a) you can use other types of bank accounts for the emergency fund, where you gain at least 1% so that you can deal (partly) with the inflation.
(b) the emergency fund can be used freely, don't stack money in there just to stack them. Just put an upper threshold and when you are lower than that, refill it.
(c) if you can't put aside more than 1% of your salary in the emergency fund until you fill it, then just put 1%. Don't ignore it, because even a car's flat-tire, or a small house emergency will require you to use credit that you haven't planned to use.

Knowledge and understanding are also essential in bitcoin investment, so those who lack knowledge and understand about bitcoin investment should just avoid it, because if they invest in bitcoin with ignorance sorry is their name.

Yes, it's very important, but considering that most people keep their money in exchanges, I can safely guess that in fact the opposite happens.

[Negotiation]

Before investing in bitcoin or other cryptocurrencies one should have proper knowledge and risk management issues. Those who have little knowledge about bitcoin should avoid it because they will not be able to control their emotions easily along with this those who have poor financial condition and are not able to take risks should stay away from bitcoin or cryptocurrencies. For them it can cause losses in the long run if they are interested in the cryptocurrency market in the future they should first gain detailed knowledge and make an investment plan according to their situation.

[TheUltraElite]

The things you barely need to survive come first - food and water before investments. The latter comes when one becomes sort of financially stable that too started with less risky assets and then they move to high risk assets which includes bitcoin even today.

So if someone is living on paychecks I would not suggest them to go for bitcoin, they should secure their living, have a stable income and good savings first before stepping in this field.

Bitcoin is not a get-rich-quick scheme, it is a long term investment with loads of ups and downs.

[pinggoki]

Totally agree with what you're saying OP and I think that it's a common sense anyway that you only should invest what you can afford to lose and not go all in and then starve yourself of your needs and then end up losing a lot of things besides money at the end of it. There will be people that will disagree and that you can invest little by little, they are right but I'd rather get out of poverty first and as quick as possible rather than stay there just so I have some monthly savings for a future that is still uncertain given that I'm still impoverished.

I mostly agree with what @Cypherpunkz said but I'm not sold on the 4th one, you can invest in bitcoin in the short-term if your goal is also short-term, that's how some people get profits all the time, they invest and wait a little and then get it out when they're in profit, not really a big deal but I think that those people do deserve to invest especially if they're making money out of short-term investments.

[Despairo]

Sometimes, I don't understand why people are always thinking about investment. Investment and financial freedom are overrated in the recent years.

It's always like, if you make $500, use $300 for food, rent, utility, personal needs etc, then the rest $200 is used for investment. Then after 10 years your money will worth $50K and then you can retire early by just living from 4% interest from your investment.

The most important thing is, increase your earning power until you reach your limit, in order to increase your earning power you have to invest in yourself.

After your earning power is big and you have money to invest, then think which asset suits for you.

[Text]

Maybe Bitcoin investment really isn’t for everyone because you do need patience and a strong mindset but I’m not so sure about being financially stable. Even though I wouldn’t say I’m financially stable right now I can still manage to invest a little sometimes. I can still handle urgent needs when they come up too.

A lot of people dive into Bitcoin thinking they’ll get quick profits but they end up panic-selling when the market dips. They don’t realise it’s not that easy that’s why it’s better to wait, learn and invest when you’re prepared.

[satscraper]

In short, Bitcoin isn't for everybody.

Statics proves your statement.

Of the year gone ordinary people liquidated as many as 525K Bitcoin they owned while various funds and business have gorged together around 900K of BTC.

^{I think that} the tendency in the observed redistribution is commonsensical; physical gold is also not in everybody hands, ^{pierced earrings and rings don't count;D}

[Marvell1]

Maybe Bitcoin investment really isn’t for everyone because you do need patience and a strong mindset but I’m not so sure about being financially stable.

Bitcoin was created for everyone, not just for a specific group of people but the problem is that not everyone has the ability, patience and courage to adopt it.

Even though I wouldn’t say I’m financially stable right now I can still manage to invest a little sometimes. I can still handle urgent needs when they come up too.

You don't need to be financially stable to start investing in bitcoin. As long as you can meet your daily needs, have a reasonable spending plan and have money to invest in bitcoin, then invest as soon as possible.
If someone says they want to be financially stable before planning to invest, I think they will never invest in bitcoin. Because we don't have financial stability, so we have to try harder every day, work hard and invest...and the purpose of all of that is to have financial stability and become rich.

A lot of people dive into Bitcoin thinking they’ll get quick profits but they end up panic-selling when the market dips. They don’t realise it’s not that easy that’s why it’s better to wait, learn and invest when you’re prepared.

Bitcoin is like any other investment, to be successful requires knowledge, experience, skills...or in other words, it all depends on us, bitcoin is just a tool, it does not decide for us.

[Pmalek]

If you don't have the stomach to watch red candles and need the money for something more important, investing in general, and not just investing in bitcoin, isn't for you. You are more likely to get scared and sell at a loss than you are to hold and wait for a more favorable outcome.

It's not true that bitcoin doesn't yield short-term profits. A few weeks ago, BTC's value rose by $10,000 in a day, only to fall by as much the next day. That's a decent daily gain. I don't agree that unknowledgeable people should trade crypto. It's a disaster waiting to happen. Check out What Can Happen If You Want to Trade Cryptocurrencies, but You Don’t Know How? if you are interested. If bitcoin falls by single digits, many alts will fall by double-digits. You are looking to lose much more attempting to trade (without knowing how to) than simply holding bitcoin with a long-term outlook.

[AsvXrin]

Bitcoin investment is not a do or die affairs we all know that  bitcoin investment is very profitable, because bitcoin is a store of value with potential returns, and it can also be risky.

Alot of people are interested to invest in bitcoin but they don't have what it's takes to build a solid investment portfolio to hold for long term of 4 to 10 years, that's why i created this thread to highlight people that should stay away from bitcoin investment in other for them not to be damage emotionally and end up regretting.

Those who can't afford potential looses and are not comfortable with the market volatility should just stay away from bitcoin investment, for the game in bitcoin investment is not for them

Those seeking for short term profits should just stay way from bitcoin investment, for Bitcoin investment doesn't give short term profits, where those category of people belong is cryptocurrency trading and not bitcoin investment.

Those who are lacking emergency funds, living in paycheck to paycheck, and struggling with depts should just avoid bitcoin investment or they we end up investing nothing but regret, because they can never accumulate a good portion of bitcoin to hold for long term, or they we end up selling their bitcoin investment at early stage, because of emergencies that may arise along the line.

Knowledge and understanding are also essential in bitcoin investment, so those who lack knowledge and understand about bitcoin investment should just avoid it, because if they invest in bitcoin with ignorance sorry is their name.

I've learned that putting money into bitcoin takes patience, some extra cash, and knowing what's up with the market. It's not for me if I'm after fast cash, tight on bills, or freaked out by wild price swings. If I don't have savings tucked away or can't wait it out, I'd rather get my money stuff sorted first. Figuring out how it works is huge too, jumping in blind just messes me up. Bitcoin's been awesome for me but only because i'm ready for the rollercoaster.