Balancing Financial security and Bitcoin Accumulation

[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.

[Nightwatchmare]

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.

It is always good we diversify our investments if we have the financial capacity to do it, and if we are diversifying our investments to real estate and commodities, we should do it when we have reached over accumulation or when we are very close to over accumulation in Bitcoin investment so that it will not distract us from Bitcoin investment since we will need to divide our discretionary income if we are investing in Bitcoin and real estate and commodities at the same time, and anyone investing in Bitcoin and shit coin at the same time is just distracting himself/herself and wasting the money he/she could have used to frontload his/her Bitcoin investment.

[Princess Leah]

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.

I don't support that anyone should diversify to shitcoins given that Bitcoin is the best coin for investment that's proven but if anyone choose to cause the want to risk it then they've should invest very little into it and more more to Bitcoin, i don't even support that newbies should give attention to shitcoins.

 Any investor without a job is as good as doing nothing cause with time such person would likely sell cheaper due to panic cayse of dip or to solve emergency situation, which is why it's advised that an investor should have an income from which they can constantly generate the discretionary funds to be able to invest in Bitcoin.

[Rockson1]

I don't support that anyone should diversify to shitcoins given that Bitcoin is the best coin for investment that's proven but if anyone choose to cause the want to risk it then they've should invest very little into it and more more to Bitcoin, i don't even support that newbies should give attention to shitcoins.

 Any investor without a job is as good as doing nothing cause with time such person would likely sell cheaper due to panic cayse of dip or to solve emergency situation, which is why it's advised that an investor should have an income from which they can constantly generate the discretionary funds to be able to invest in Bitcoin.

What is even shitcoin in the first place, is it that shit that keeps messing up those that chose to invest in it, too bad that some persons will want to talk some persons into investing in shitcoin as a form diversification from Bitcoin, the question I keep asking is, if anyone wants to diversify for instance, must it be in the same space when they already kwmo that there is no digital currency or assets that can be compare even when everything is put together Bitcoin is still the best.

Let's face the fact without Bitcoin theres no digital currency is or asset, it is as simple as that, so people should refuse to be deceived into doing shit, there are things that are regarded as unnecessary risk and shitcoin is full part of that list, I don't advise anyone to do that shit.

If course every investor should have something doing, infact every investor should have something tangible doing and keep in reason their source  of income, it helps us not to make some decisions that might be regretted later as it has to do with Bitcoin investment.

[ASloveapg]

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.

In order to effectively hold Bitcoin, focus and patience are the most important things, along with our faith in it, but yes, this is what many people do not understand. And because of their ignorance, they cannot hold Bitcoin effectively, basically there must be will and effort. If you want to achieve something effective from Bitcoin, you must first understand it and then make stable decisions to hold it. Otherwise, it is very difficult to hold it, and in the volatility we will easily panic, then make wrong decisions, and in the end we will only face failure.

[Saltysugar99]

It is always good we diversify our investments if we have the financial capacity to do it, and if we are diversifying our investments to real estate and commodities, we should do it when we have reached over accumulation or when we are very close to over accumulation in Bitcoin investment so that it will not distract us from Bitcoin investment since we will need to divide our discretionary income if we are investing in Bitcoin and real estate and commodities at the same time, and anyone investing in Bitcoin and shit coin at the same time is just distracting himself/herself and wasting the money he/she could have used to frontload his/her Bitcoin investment.

You have said a lot of important things. However, I have a slightly different opinion. Diversification is good, but you have to keep in mind that it is only when your cash flow and discretionary income are so strong that even if you divide the money in multiple directions, the original plan will not be ruined. However, if you already have any assets or investments, then if there is a profit from them. it will be possible to get good to invest that profit in bitcoin . However, it will depend on how much the person who will invest is giving priority to investing in Bitcoin.

For many, it is more realistic to keep BTC staking as the primary focus first, and when the holding is sufficient, it may be reasonable to invest in real estate, gold. Because these help maintain the valuation of the asset. But with BTC, there is no diversification of shitcoin, it basically becomes trading or gambling. Because investing in altcoins is equivalent to betting with it.

[JayJuanGee]

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.

It is always good we diversify our investments if we have the financial capacity to do it, and if we are diversifying our investments to real estate and commodities, we should do it when we have reached over accumulation or when we are very close to over accumulation in Bitcoin investment so that it will not distract us from Bitcoin investment since we will need to divide our discretionary income if we are investing in Bitcoin and real estate and commodities at the same time, and anyone investing in Bitcoin and shit coin at the same time is just distracting himself/herself and wasting the money he/she could have used to frontload his/her Bitcoin investment.

You are  over stating the justification for diversification.

Sure there are some newbies who come to bitcoin and they are already wealthy or they have a variety of already existing investments.. so then maybe for those kinds of newbies, they might not need to sell any of their other investments to get into bitcoin, yet there might be some those newbies to bitcoin who would be better to reallocate some or all of their other investments into bitcoin.

The fact of the matter is that an overwhelming majority of people are relatively new to investing and so they do not need to diversify in other assets besides bitcoin and cash in order to get started in their bitcoin investment, including initially staying focused on building their bitcoin and strengthening their cashflow management systems and practices.

Perhaps once they get substantial funds in their bitcoin investment and their back up funds (such as a 6-12 months of their expenses), they might start to consider diversifying, and it may or may not be necessary to diversify, even at that point.  Each person can figure out the extent to which they might want to balance out their bitcoin and cash with some other asset or assets...

So your proclamation of "always good" to diversify is very misleading, since it is not true and it could well take a person quite a long time, such as a few years to build their bitcoin/cash investment to such a level that it is starting to make sense to diversify out and the diversification might be more related to the cash portion rather than the bitcoin portion, since probably bitcoin should be the priority, even though guys have the right to prioritize however they like, even if they end up prioritizing in dumb ways.

[Tonimez]

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.

It is always good we diversify our investments if we have the financial capacity to do it, and if we are diversifying our investments to real estate and commodities, we should do it when we have reached over accumulation or when we are very close to over accumulation in Bitcoin investment so that it will not distract us from Bitcoin investment since we will need to divide our discretionary income if we are investing in Bitcoin and real estate and commodities at the same time, and anyone investing in Bitcoin and shit coin at the same time is just distracting himself/herself and wasting the money he/she could have used to frontload his/her Bitcoin investment.

I don't see why you are emphasizing on this diversification like someone who is loosing interest in the bitcoin Holding process.  This is why it is very good to only invest with your Discretionary income. Hence you understand that your investments is for the future, you won't see any reason to think of diversification (with such meanness). When you are not very interested in quick money, you won't be thinking about diversification. You should plan your DCA approach in such a way that it will allow you not to have a sort of financial stress that will make you start regretting HODLing some funds in bitcoin. In summary, the success of your bitcoin HODLing is dependent on your cashflow management and financial discipline at all time.