Balancing Financial security and Bitcoin Accumulation

[Xackie]

Not at all, I am not a shitcoiner. I was trying to give a level ground for anyone who wants to diversify and trying to see diversifying into personal business as part of diversification to help grow Bitcoin assets for low income earners particularly, but that made me sound like a shitcoiner as perceived. Also when I said halving accumulation target I really meant there was getting to the halve of the target, like let's say the target is 1 BTC so getting to 0.5 BTC.

Great that diversifying is likely a tool to preserve Bitcoin wealth rather than to grow it. In the crypto space, it is Bitcoin or nothing, so no chance for shitcoining.

When I think about diversifying my investments, this is what comes to mind.

https://x.com/i/status/2013519471462224192

I think you could possibly be thinking of diversification probably when you have gotten to over accumulation, when you have been buying bitcoin for a very long term, probably I could say that to your satisfying years, that is when I feel that diversification would be possible for anyone, but when you’re still in your accumulation period you do not have any business with diversification because I don’t really think there is anything you will diversify into that would be better than investing in bitcoin at the moment, because presently there is so many opportunities in the bitcoin market, just imagine you buy bitcoin now and what happens in the next 4-10 years I believe it will be massive for investment opportunities.

Yeah the idea of diversification isn't bad, it's just that it shouldn't be done at the early or mid stage of Bitcoin investments journey. Wen a person is building their Bitcoin position, focus and consistency is more important than you spreading your money into other Alts coins thinking that you will realize big profits from it. Bitcoin volatility is enough to warn you not to jump into other projects at an early stages. Diversifying too early can dilute results and create confusion. Like you said once you feel you have accumulated enough Bitcoin, then you feel you that you want to stretch your hands a little bit , then adding other assets ( but not shitcoins only strong Alts like Eth ) can help with balance and peace of mind. But still investing in them should be done with more caution because they are more risky than Bitcoin. As an investor, build your conviction on Bitcoin properly before diversifying.

[Joeboy]

Yeah the idea of diversification isn't bad, it's just that it shouldn't be done at the early or mid stage of Bitcoin investments journey. Wen a person is building their Bitcoin position, focus and consistency is more important than you spreading your money into other Alts coins thinking that you will realize big profits from it. Bitcoin volatility is enough to warn you not to jump into other projects at an early stages. Diversifying too early can dilute results and create confusion. Like you said once you feel you have accumulated enough Bitcoin, then you feel you that you want to stretch your hands a little bit , then adding other assets ( but not shitcoins only strong Alts like Eth ) can help with balance and peace of mind. But still investing in them should be done with more caution because they are more risky than Bitcoin. As an investor, build your conviction on Bitcoin properly before diversifying.

Sure, infact I think that diversification should best be done to preserve your wealth rather than to build it from scratch...The truth is that diversifying at the early stages of your Bitcoin investment will just be slowing down your pace and progress...Due to inexperience, one may even end up diversifying a greater percentage of their money into worthless shitcoin, all in the name of diversification...This is why when you are just starting out and you still have a relatively small capital with little experience, it will.make more sense for you to focus on building your experience and then a meaningful and tangible Bitcoin portfolio, before diversifying later on when there is actually a wealth to protect...

[Barikui1]

...Due to inexperience, one may even end up diversifying a greater percentage of their money into worthless shitcoin, all in the name of diversification...

I don't know how we see this but never will I accept invest into shit coin as diversification because they can't replace Bitcoin if for any reason Bitcoin isn't available. They are only created for gambling purposes and the chances of you losing your hard earned money is much more greater than the chances of making something out of it, so what's the essence risking your money in it all in the name of diversification?
If we are talking of real diversification, we should be talking of land, gold etc, not alt or shit coin that are mostly created for gambling than investment.

[Umulala-alala]

...Due to inexperience, one may even end up diversifying a greater percentage of their money into worthless shitcoin, all in the name of diversification...

I don't know how we see this but never will I accept invest into shit coin as diversification because they can't replace Bitcoin if for any reason Bitcoin isn't available. They are only created for gambling purposes and the chances of you losing your hard earned money is much more greater than the chances of making something out of it, so what's the essence risking your money in it all in the name of diversification?
If we are talking of real diversification, we should be talking of land, gold etc, not alt or shit coin that are mostly created for gambling than investment.

Investing in shitcoin shouldn't be diversification option instead is better for one to continue buying bitcoin even though they have reach their accumulation joint than risking money you will use for other useful things to buy a bump and dump coin, diversification should be on valuables properties or other asset like landed property or gold, for instant you can buy a land of $100 and sell it $1000 in maybe 10 years time but you can buy a shitcoin now worth $100 and in a week time you are seeing $5.

[Proty]

Yeah the idea of diversification isn't bad, it's just that it shouldn't be done at the early or mid stage of Bitcoin investments journey. Wen a person is building their Bitcoin position, focus and consistency is more important than you spreading your money into other Alts coins thinking that you will realize big profits from it. Bitcoin volatility is enough to warn you not to jump into other projects at an early stages. Diversifying too early can dilute results and create confusion. Like you said once you feel you have accumulated enough Bitcoin, then you feel you that you want to stretch your hands a little bit , then adding other assets ( but not shitcoins only strong Alts like Eth ) can help with balance and peace of mind. But still investing in them should be done with more caution because they are more risky than Bitcoin. As an investor, build your conviction on Bitcoin properly before diversifying.

Sure, infact I think that diversification should best be done to preserve your wealth rather than to build it from scratch...The truth is that diversifying at the early stages of your Bitcoin investment will just be slowing down your pace and progress...Due to inexperience, one may even end up diversifying a greater percentage of their money into worthless shitcoin, all in the name of diversification...This is why when you are just starting out and you still have a relatively small capital with little experience, it will.make more sense for you to focus on building your experience and then a meaningful and tangible Bitcoin portfolio, before diversifying later on when there is actually a wealth to protect...

Just like the saying goes that it is not good to put all ones egg in one basket because if something happens to that basket the person will lose all his eggs. However if it is in different basket when something happens to one the other will still be there. In the world of investment it isn't a good idea to put all ones income into one asset because if something should go wrong, the person will be left with nothing but compared to someone that has his income spread across different assets they won't lose everything. The essence of diversification is to reduce the risk of losing all ones income by spreading across different assets.
However a great care should be taken to avoid making the mistake of diversifying into assets wrong assets . Asset that correlate with the other. Diversifying ones portfolio in bitcoin to shitcoin, to me this isn't diversification because most of this shitcoin do correlate with bitcoin. Therefore we are not minimising risk by investing in them.

[Obulis]

People that investing in bitcoin should be constantly be aware that such that money should be left alone for years, at least a cycle, and not less than that.

If then they cannot handle such idea then they should not even be investing in bitcoin.

Which is why people should invest with discretionary income as it is only what can make you to leave it for a long haul. Investing with any money other than discretionary income usually end bad in regrets.

Yes people that intend to invest in bitcoin for a long term they should have this in mind that they  won't have access to the money till  have reached there investment timeline. With this they will have a good understanding why it is advisable to invest in bitcoin using discretionary income rather than money that we will needing for our daily expenses. If our discretionary income is locked for years it won't affect us or we wont be pushed to temper with our investment but if it is money that we will be needing, whenever the need arise we will be force to fall back to our bitcoin investment.

One thing to keep in mind very clearly is that this investment is not liquid until the investment deadline is met. That is why it is not reasonable to invest in Bitcoin for daily expenses, emergency funds or near future needs, but only discretionary income. The money that will not affect our lifestyle even if it is stuck for a few years should be invested in Bitcoin. If we do not have mental stress about the investment money, then short term fluctuations in the market will not affect our emotions and we will be able to avoid making wrong decisions. But if the money we need goes into the investment, then we will be forced to break the investment in any emergency or a slight decline in the market, which is completely contrary to the long term strategy.

Yes, you are right. We should invest in Bitcoin through discretionary income. But most new investors do not understand this. They think it is very difficult to extract discretionary income from their daily income. We will start with very small. Because for small investors like us, we cannot afford to start investing with one or two Bitcoins. So we can start investing from very small.

The little amount of money that is left after our daily expenses is discretionary income. From this discretionary income, we can save some money for emergency fund and start investing in Bitcoin with the remaining money. This remaining money is our main discretionary income. With which we will not face any danger even if we do not decide to invest for a long time of 8 to 10 years. Discretionary income is a very small and beautiful residual. If we extract it correctly, we will never have to sell our investment in an emergency.

Before investing in Bitcoin, there is no body who have not spent money daily, weekly and or monthly, this should help in figuring out discretionary funds. The money that follows you to next earnings date or time. However, also figuring out emergency funds from that is part of but much easier when the left over is clearly noted. Doing these could also require handling unnecessary spendings that'll help the left over after daily expenses are well figured out amass.

[GIF-JOBS]

...Due to inexperience, one may even end up diversifying a greater percentage of their money into worthless shitcoin, all in the name of diversification...

I don't know how we see this but never will I accept invest into shit coin as diversification because they can't replace Bitcoin if for any reason Bitcoin isn't available. They are only created for gambling purposes and the chances of you losing your hard earned money is much more greater than the chances of making something out of it, so what's the essence risking your money in it all in the name of diversification?
If we are talking of real diversification, we should be talking of land, gold etc, not alt or shit coin that are mostly created for gambling than investment.

And especially alt coins or shit coins are never suitable for long-term investment, there is no expectation from them, and the probability is completely like gambling, luck. In the case of long-term subtraction, we should invest in assets that have potential and reliability, and these things are not in alt coins or shit coins at all. And this is why when taking risks, we should take risks in assets with which we will have a good chance of success in the long term. This is the difference between investment and gambling, one is completely based on luck and the other depends on the probability that we have to invest in the long term, and in this case Bitcoin is very suitable, but alt coins or shit coins are never.

[Gost ms]

Yeah the idea of diversification isn't bad, it's just that it shouldn't be done at the early or mid stage of Bitcoin investments journey. Wen a person is building their Bitcoin position, focus and consistency is more important than you spreading your money into other Alts coins thinking that you will realize big profits from it. Bitcoin volatility is enough to warn you not to jump into other projects at an early stages. Diversifying too early can dilute results and create confusion. Like you said once you feel you have accumulated enough Bitcoin, then you feel you that you want to stretch your hands a little bit , then adding other assets ( but not shitcoins only strong Alts like Eth ) can help with balance and peace of mind. But still investing in them should be done with more caution because they are more risky than Bitcoin. As an investor, build your conviction on Bitcoin properly before diversifying.

Sure, infact I think that diversification should best be done to preserve your wealth rather than to build it from scratch...The truth is that diversifying at the early stages of your Bitcoin investment will just be slowing down your pace and progress...Due to inexperience, one may even end up diversifying a greater percentage of their money into worthless shitcoin, all in the name of diversification...This is why when you are just starting out and you still have a relatively small capital with little experience, it will.make more sense for you to focus on building your experience and then a meaningful and tangible Bitcoin portfolio, before diversifying later on when there is actually a wealth to protect...

Just like the saying goes that it is not good to put all ones egg in one basket because if something happens to that basket the person will lose all his eggs. However if it is in different basket when something happens to one the other will still be there. In the world of investment it isn't a good idea to put all ones income into one asset because if something should go wrong, the person will be left with nothing but compared to someone that has his income spread across different assets they won't lose everything. The essence of diversification is to reduce the risk of losing all ones income by spreading across different assets.
However a great care should be taken to avoid making the mistake of diversifying into assets wrong assets . Asset that correlate with the other. Diversifying ones portfolio in bitcoin to shitcoin, to me this isn't diversification because most of this shitcoin do correlate with bitcoin. Therefore we are not minimising risk by investing in them.

Investing your entire money or your entire life savings in Bitcoin will never be a good decision. Investing the amount of money that you can afford to lose will be the right decision. For example, if you invest 10% or 20% of your discretionary income in Bitcoin, it will be the right decision. Because Bitcoin never guarantees you, if you hold it in the long term, you will benefit from Bitcoin.

However, this does not mean that you will invest in other cryptocurrencies along with Bitcoin. Investing in cryptocurrencies is the most risky and like gambling. You can create an emergency fund with the amount of money that you have left after investing in Bitcoin and if you already have an emergency fund, you can save that amount and do something else or buy a land, this will be a good decision for you.

[Abelly]

...Due to inexperience, one may even end up diversifying a greater percentage of their money into worthless shitcoin, all in the name of diversification...

I don't know how we see this but never will I accept invest into shit coin as diversification because they can't replace Bitcoin if for any reason Bitcoin isn't available. They are only created for gambling purposes and the chances of you losing your hard earned money is much more greater than the chances of making something out of it, so what's the essence risking your money in it all in the name of diversification?
If we are talking of real diversification, we should be talking of land, gold etc, not alt or shit coin that are mostly created for gambling than investment.

And especially alt coins or shit coins are never suitable for long-term investment, there is no expectation from them, and the probability is completely like gambling, luck. In the case of long-term subtraction, we should invest in assets that have potential and reliability, and these things are not in alt coins or shit coins at all. And this is why when taking risks, we should take risks in assets with which we will have a good chance of success in the long term. This is the difference between investment and gambling, one is completely based on luck and the other depends on the probability that we have to invest in the long term, and in this case Bitcoin is very suitable, but alt coins or shit coins are never.

In the case of long terM investment, we should choose assetS that have a strong foundation of Practical Usability and a long TeRm reliable history. If we have to take risks, then we should take those risks in Assets that have a reasonable Chance of succeeding in the long term.This is where the main difference between investment and gaMbling BeComes Clear. GaMbling depEnds EntireLy on luck, While inVestment dePeNds on the time, patience, and a sOlid founDation.In this Regard, Bitcoin is the mOst sUitable aSSet for long term investment. Its Decentralization, limited supply, aNd long term pRoven hiStory Make it a reasonable cHoice for those wHo truly believe in long term investment.

[Female King]

Investing in cryptocurrencies is the most risky and like gambling.

This is to scare away newbies who will want to invest in Bitcoin not to invest again most expecially those who has experience the bad side of shitcoins because saying that investing in cryptocurrencies is like gambling you also include bitcoin because bitcoin is part of cryptocurrency so the best way is to differentiate them by been specific about the particular coin that is most risky and gambling to invest on if it's bitcoin you simply say bitcoin if it's also shitcoins be specific and mention shitcoin and not cryptocurrency because that term cryptocurrency contains many shirty coin in it.

[JayJuanGee]

Yeah the idea of diversification isn't bad, it's just that it shouldn't be done at the early or mid stage of Bitcoin investments journey. Wen a person is building their Bitcoin position, focus and consistency is more important than you spreading your money into other Alts coins thinking that you will realize big profits from it. Bitcoin volatility is enough to warn you not to jump into other projects at an early stages. Diversifying too early can dilute results and create confusion. Like you said once you feel you have accumulated enough Bitcoin, then you feel you that you want to stretch your hands a little bit , then adding other assets ( but not shitcoins only strong Alts like Eth ) can help with balance and peace of mind. But still investing in them should be done with more caution because they are more risky than Bitcoin. As an investor, build your conviction on Bitcoin properly before diversifying.

Sure, infact I think that diversification should best be done to preserve your wealth rather than to build it from scratch...The truth is that diversifying at the early stages of your Bitcoin investment will just be slowing down your pace and progress...Due to inexperience, one may even end up diversifying a greater percentage of their money into worthless shitcoin, all in the name of diversification...This is why when you are just starting out and you still have a relatively small capital with little experience, it will.make more sense for you to focus on building your experience and then a meaningful and tangible Bitcoin portfolio, before diversifying later on when there is actually a wealth to protect...

Just like the saying goes that it is not good to put all ones egg in one basket because if something happens to that basket the person will lose all his eggs. However if it is in different basket when something happens to one the other will still be there. In the world of investment it isn't a good idea to put all ones income into one asset because if something should go wrong, the person will be left with nothing but compared to someone that has his income spread across different assets they won't lose everything. The essence of diversification is to reduce the risk of losing all ones income by spreading across different assets.
However a great care should be taken to avoid making the mistake of diversifying into assets wrong assets . Asset that correlate with the other. Diversifying ones portfolio in bitcoin to shitcoin, to me this isn't diversification because most of this shitcoin do correlate with bitcoin. Therefore we are not minimising risk by investing in them.

When to diversify is not always clear, yet a beginner investor might not need to consider diversifying beyond bitocin and cash until his bitcoin and/or cash are getting to 6 months or more of his expenses, and even then, there might not be any necessity to diversify since the overall wealth is still not very big.     In other words, there is no need to diversify merely for the sake of it, and it sounds smart because diversifying for the mere sake of it might cause diluting of the bitcoin investment and diluting of the cashflow management.  Once the cash amounts (such as back up funds) might start to grow beyond 4-5 months, then maybe some of that cash does not need to be so readily available, which might make sense to put it in other places. 

During recent times we have seen the BTC price dip more than 50% from its October 6 top, so it might make us feel better to have some value in other places - such as property, stocks, bonds, commodities, business, cash equivalents -(I am not referring to shitcoins)

[Xackie]

...Due to inexperience, one may even end up diversifying a greater percentage of their money into worthless shitcoin, all in the name of diversification...

I don't know how we see this but never will I accept invest into shit coin as diversification because they can't replace Bitcoin if for any reason Bitcoin isn't available. They are only created for gambling purposes and the chances of you losing your hard earned money is much more greater than the chances of making something out of it, so what's the essence risking your money in it all in the name of diversification?
If we are talking of real diversification, we should be talking of land, gold etc, not alt or shit coin that are mostly created for gambling than investment.

And especially alt coins or shit coins are never suitable for long-term investment, there is no expectation from them, and the probability is completely like gambling, luck. In the case of long-term subtraction, we should invest in assets that have potential and reliability, and these things are not in alt coins or shit coins at all. And this is why when taking risks, we should take risks in assets with which we will have a good chance of success in the long term. This is the difference between investment and gambling, one is completely based on luck and the other depends on the probability that we have to invest in the long term, and in this case Bitcoin is very suitable, but alt coins or shit coins are never.

‎I think among all Altcoins and shitcoins combined together only 0.1% are somehow reasonable, the remaining one are just useless. The risk they carry is unimaginable, imagine when a Altcoins or memecoins drops by 50% , they will just lose their relevancy and never rise again, due to dependency on hype. That is not investment behavior, it is speculation.  Your money should go into assets that survive different phases in the market. Bitcoin has done that repeatedly.

[Barikui1]

‎I think among all Altcoins and shitcoins combined together only 0.1% are somehow reasonable, the remaining one are just useless. The risk they carry is unimaginable, imagine when a Altcoins or memecoins drops by 50% , they will just lose their relevancy and never rise again, due to dependency on hype. That is not investment behavior, it is speculation.  Your money should go into assets that survive different phases in the market. Bitcoin has done that repeatedly.

When talking about alt and meme coin, you should be talking about how this or that one is less shitty than the other, because they are full of shit. You saying that 0.1% is reasonable means that their good ones among them, but in all honesty, they are all full of shit.
Investment in alt and meme coin are more of gambling than investment, so if you are hell bent on gambling on them, I would advice that you do it with only 5% of your discretionary income, so that you wouldn't be affected negatively if it later didn't go as planned.

[Princess Leah]

When to diversify is not always clear, yet a beginner investor might not need to consider diversifying beyond bitocin and cash until his bitcoin and/or cash are getting to 6 months or more of his expenses, and even then, there might not be any necessity to diversify since the overall wealth is still not very big.     In other words, there is no need to diversify merely for the sake of it, and it sounds smart because diversifying for the mere sake of it might cause diluting of the bitcoin investment and diluting of the cashflow management.  Once the cash amounts (such as back up funds) might start to grow beyond 4-5 months, then maybe some of that cash does not need to be so readily available, which might make sense to put it in other places. 

During recent times we have seen the BTC price dip more than 50% from its October 6 top, so it might make us feel better to have some value in other places - such as property, stocks, bonds, commodities, business, cash equivalents -(I am not referring to shitcoins)

I've heard about coins that follow the Bitcoin trend, I think a beginner that's very wealthy can choose to diversify to such coin, is it possible for a wealthy beginner or should such person just focus on Bitcoin till enough of it is accumulated then the person can choose to pay attention to another coin?

 Silver and copper are currently doing great including gold that reach an ATH before dropping, are they good assets for diversification or should an investor just focus on Bitcoin only since it has the potential to do better in the future?

[PhilosopherKing]

I've heard about coins that follow the Bitcoin trend, I think a beginner that's very wealthy can choose to diversify to such coin, is it possible for a wealthy beginner or should such person just focus on Bitcoin till enough of it is accumulated then the person can choose to pay attention to another coin?

 Silver and copper are currently doing great including gold that reach an ATH before dropping, are they good assets for diversification or should an investor just focus on Bitcoin only since it has the potential to do better in the future?

Diversification for beginner can get them to loose focus because they could still be learning about how bitcoin and how to properly accumulate. If then they start putting into every coins they see they could create confusion and put into the wrong coin.

The period that someone should commence paying attention to other coin should be when lots of backup cash is there.

Instead of letting the money remain in cash where it's value can rot away very quickly, fellas can allocate some backup into other coin that are performing real good.

[Sim_card]

Diversification for beginner can get them to loose focus because they could still be learning about how bitcoin and how to properly accumulate. If then they start putting into every coins they see they could create confusion and put into the wrong coin.

The period that someone should commence paying attention to other coin should be when lots of backup cash is there.

Instead of letting the money remain in cash where it's value can rot away very quickly, fellas can allocate some backup into other coin that are performing real good.

It seems you don't understand the meaning of diversifying. When diversifying, you are to do it into a different line of asset because the reason of diversifying is to preserve your wealth so that if one isn't doing well just like now that bitcoin price is dipping, the other asset can balance up the loss.

It useless to diversify into shitcoins because if it's not bitcoin, it's shitcoins(gambling). If bitcoin price goes down all your portfolio will go down too since bitcoin price movement controls these shitcoins. Don't gamble in the name of diversifying. You should diversify into gold, stock, bond, equity. A brand new investor in his early bitcoin accumulation stage doesn't need to diversify.

[JayJuanGee]

When to diversify is not always clear, yet a beginner investor might not need to consider diversifying beyond bitocin and cash until his bitcoin and/or cash are getting to 6 months or more of his expenses, and even then, there might not be any necessity to diversify since the overall wealth is still not very big.     In other words, there is no need to diversify merely for the sake of it, and it sounds smart because diversifying for the mere sake of it might cause diluting of the bitcoin investment and diluting of the cashflow management.  Once the cash amounts (such as back up funds) might start to grow beyond 4-5 months, then maybe some of that cash does not need to be so readily available, which might make sense to put it in other places.  

During recent times we have seen the BTC price dip more than 50% from its October 6 top, so it might make us feel better to have some value in other places - such as property, stocks, bonds, commodities, business, cash equivalents -(I am not referring to shitcoins)

I've heard about coins that follow the Bitcoin trend, I think a beginner that's very wealthy can choose to diversify to such coin, is it possible for a wealthy beginner or should such person just focus on Bitcoin till enough of it is accumulated then the person can choose to pay attention to another coin?

Usually the concept of diversification is to put value into something that is not correlated.  All shitcoins are already correlated to bitcoin, so it makes no sense to diversify into them.

Surely some folks get into shitcoins because they are taking the chance that such shitcoin will grow faster than bitcoin during the period that they buy into them, so then they would be able to get more bitcoin.  That is not really diversification but just taking chances and trying to gamble on a positive outcome.

I think that diversification is also a bad idea in regards to wanting to grow your wealth unless you have identified more than one asset that is believed to have strong fundamentals yet not knowing where to put value.. so in that sense, the investment into both of them at the same time would end up being diluted as compared with just investing in one of them.

Many guys in this forum (including myself) have been using the idea of diversification as a way to preserve wealth and/or to protect wealth, which presumes a decent amount of growth in the wealth prior to coming across needs to diversify beyond just bitcoin and cash... so for example after 4 years of investing around 15% of his income in bitcoin and building back up cash, maybe the guy had put 6 months of expenses into bitcoin and 6 months of expenses into his back up fund .. and so maybe he could either start to put some value into something else or maybe just focus on bitcoin only for a few more years before starting to invest into something else.. and surely I am not even referring to shitcoins, even though you seem tempted to find a rationale to put money into shitcoins.

Silver and copper are currently doing great including gold that reach an ATH before dropping, are they good assets for diversification or should an investor just focus on Bitcoin only since it has the potential to do better in the future?

Gold and silver have been quite inferior to bitcoin, except recent times, so if you put value into gold/silver you are speculating that they are going to continue to pump?  I have difficulties finding how you consider them to be good places to put value, except that they recently pumped... so maybe if you cannot resist putting some value into one or both of them, then be careful not to put anymore than 10% of the value of your bitcoin into them... but yeah, of course, you are free to do what you like, even dumb shit.

For sure in the past several months a lot of confidence has been lost in bitcoin based on some of its recent moves in price and also the pumping of inferior assets as compared with bitcoin, yet surely there are guys who get distracted based on those kinds of matters, and I am not going to try to talk you out of getting distracted, since your ability to focus is within your own choices and/or abilities.

[edited out]

Instead of letting the money remain in cash where it's value can rot away very quickly, fellas can allocate some backup into other coin that are performing real good.

If a person starts to diversify then maybe after 4-5 years he had built up his cash and his bitcoin to around 6 months (each) of his expenses, and so maybe he starts to put some money into some other investment yet he keeps his 6 months cash and his 6 months invested into bitcoin.. so maybe if he has $1k in discretionary income each month, he decides that he is still putting $400 into bitcoin, $200 into his new investment, $100 into his savings and $300 into his discretionary spending.

He figures out some reasonable number that he considers to work for his interests, yet his main focus should remain his bitcoin and/or trying to protect his bitcoin rather than getting distracted... and I am not even suggesting that the guy needs to do engage in such diversification so early in his bitcoin accumulation journey, yet some guys might be tempted into wanting to add more categories to their investment portfolio package and feel like they are in a stronger position for having some other category of investment that is within their holdings.. yet it seems to me that bitcoin building and making sure that the cashflow management is strong should remain the main focus, even when guys might want to add some other likely to be inferior asset into their holdings.. and yeah they may also end up diluting their efforts to build their bitcoin when they should be adding to their bitcoin rather than putting value into potentially inverior places... but guys are free to do what they are going to do, even if it ends up being a mistake.

[Nightwatchmare]

...Due to inexperience, one may even end up diversifying a greater percentage of their money into worthless shitcoin, all in the name of diversification...

I don't know how we see this but never will I accept invest into shit coin as diversification because they can't replace Bitcoin if for any reason Bitcoin isn't available. They are only created for gambling purposes and the chances of you losing your hard earned money is much more greater than the chances of making something out of it, so what's the essence risking your money in it all in the name of diversification?
If we are talking of real diversification, we should be talking of land, gold etc, not alt or shit coin that are mostly created for gambling than investment.

If you are investing in Bitcoin and you want to diversify your investment, and you choose shit coin as what you want to diversify your investment with, that is not diversification because Bitcoin and shit coin are powered by the same technology, and if the price of Bitcoin drops, the price of the shit coin you invested your money into will also drop, and you will not achieve the aim of diversification because your two assets are experiencing  reduction in price at the same time. Diversification is actually when you are investing in two different assets like Bitcoin and real estate and commodities so that you will rely on real estate and commodities if Bitcoin is experiencing reduction in price, and if real estate and commodities are not favoring you, you will rely on Bitcoin. So i believe with these few points of mine on diversification, the people who do not know what diversification is will now know what diversification is and know how to diversify their investments.

[Churchillvv]

It useless to diversify into shitcoins because if it's not bitcoin, it's shitcoins(gambling). If bitcoin price goes down all your portfolio will go down too since bitcoin price movement controls these shitcoins. Don't gamble in the name of diversifying. You should diversify into gold, stock, bond, equity. A brand new investor in his early bitcoin accumulation stage doesn't need to diversify.

Diversification is more like distracting yourself from the right direction, it’s one thing that gets people away from succeeding in bitcoin, what people do not realize is that time used in gathering shits put together in one direction which is bitcoin. they will be more successful than ever in life, even in other aspect of life you need focus to succeed.

[cocadalcan]

It useless to diversify into shitcoins because if it's not bitcoin, it's shitcoins(gambling). If bitcoin price goes down all your portfolio will go down too since bitcoin price movement controls these shitcoins. Don't gamble in the name of diversifying. You should diversify into gold, stock, bond, equity. A brand new investor in his early bitcoin accumulation stage doesn't need to diversify.

Diversification is more like distracting yourself from the right direction, it’s one thing that gets people away from succeeding in bitcoin, what people do not realize is that time used in gathering shits put together in one direction which is bitcoin. they will be more successful than ever in life, even in other aspect of life you need focus to succeed.

The investors who know the bad effects of shitcoin will never repeat that mistake. Those who want to diversify shitcoin with bitcoin are confused and misguided. Starting with shitcoin as a newbie was a confusing decision. The lesson I learned from that was to use bitcoin for long-term savings and realize that investing is not for immediate profit.

To buy bitcoin you need to focus on earning fiat, while acquiring physical assets, increasing your bitcoin holdings. Leaving no other option would be the best decision.