A question that hit me 🎯 hard

[michellee]

Diversifying is the answer so I suggest you have other things for safe haven besides Bitcoin. But if you don't have enough preparation, you can sticks to Bitcoin and making much profit so you could diversify to other investments.

As investors, you already learned a lot how to prepare so I guess you will not have much problem. But we see Bitcoin popularity increases time to time so we can predict Bitcoin might stay with us for a long time. At least until the rest of our life and our kids but we should not worry because we have many options to diversifying.

[sokani]

This got me good, it got me thinking if I am doing in wrong? Presently I am escaping that inflation but my response to him is life itself, maybe I won't even live long to see Bitcoin fail?

But what do you people think? Do you think there is a better approach to this solution of mine?

I don't have concerns about Bitcoin's potential failure in the future, but it's wise not to put all your eggs in one basket. Diversify your investment in other assets like gold, real estate, landed properties, etc. They are also hedge against inflation. If anything happens to Bitcoin in the future, which I don't think would, you would still have these other assets to fall on.

[Knight Hider]

Don't put all eggs in one basket.

[NotATether]

Failure is not something people design for, or with the anticipation of it.

The bitcoin network is a really strong set of thousands of decentralized nodes and miners, and they are not going away any time soon.

[batang_bitcoin]

IMO, you're not alone with that dilemma. Everyone has got to that question about Bitcoin's future. But go back to several years of it because it's been asked and said which made a lot of people worried about bitcoin's future. Moving to the present time, this time it had proved those skeptics. There's a big future for bitcoin and if someone is worried about the future of it. You don't have to think of it when you've got an experience or you've studied the history of it and the reasons why you're holding and believing its future shouldn't changed.

[UchihaSarada]

IMO, you're not alone with that dilemma. Everyone has got to that question about Bitcoin's future. But go back to several years of it because it's been asked and said which made a lot of people worried about bitcoin's future. Moving to the present time, this time it had proved those skeptics. There's a big future for bitcoin and if someone is worried about the future of it. You don't have to think of it when you've got an experience or you've studied the history of it and the reasons why you're holding and believing its future shouldn't changed.

The future is uncertain, it's always like that with anyone, anything and Bitcoin is not exception at all.

Even I am very bullish with Bitcoin, I know the uncertainty of Bitcoin future that in my opinion and expectation is bullish, but I don't have all my money in Bitcoin. It's because the basic uncertainty of the future, including Bitcoin future, so I have to make my plan B when Bitcoin goes bad and I will not lose all my money because of that Bitcoin future.

[Peanutswar]

I have literally turned Bitcoin into my bank where I store all my money because the fiat in my country is very bad and inflation hits it faster than most fiat currency of other countries.

But then someone strike me hard with a disturbing question, he said, what if Bitcoin do failed in the future? What is my plan for that?
He said, we don't know if Bitcoin will have a better future tomorrow, imagine you having everything in Bitcoin and something happened.

This got me good, it got me thinking if I am doing in wrong? Presently I am escaping that inflation but my response to him is life itself, maybe I won't even live long to see Bitcoin fail?

But what do you people think? Do you think there is a better approach to this solution of mine?

I guess you are getting afraid because you made an all-in with the bitcoin, so first you need to question yourself. What's your goal or plan with your bitcoins? Is this for a long term or a short term and base you stated is yo umade an investment with your bank into bitcoin so possible you made an all-in, but can you afford to lose the money? because you made a doubt to your self already its better to make a plan with your money we do keep saying this "dont put all of your eggs into a single basket" once the bitcoin falls all of your money right now aint what you expect to become.

If your agenda is to avoid inflation, there are many things you can use to avoid this, such as investing in different assets. Not only is the real-life use of bitcoin different from crypto assets.

[snowpega]

I have literally turned Bitcoin into my bank where I store all my money because the fiat in my country is very bad and inflation hits it faster than most fiat currency of other countries.

But then someone strike me hard with a disturbing question, he said, what if Bitcoin do failed in the future? What is my plan for that?
He said, we don't know if Bitcoin will have a better future tomorrow, imagine you having everything in Bitcoin and something happened.

This got me good, it got me thinking if I am doing in wrong? Presently I am escaping that inflation but my response to him is life itself, maybe I won't even live long to see Bitcoin fail?

But what do you people think? Do you think there is a better approach to this solution of mine?

Mate, honestly, this is something you have to face alone, I mean no one is going to advise you in finance matter. But the best we can give you suggestion on which you have to do your own research. The best way is that you should follow risk management fundamentals and diversify your portfolio into different assets. In my point of view, you should invest 60% percent of your portfolio in Bitcoin and 20% percent of your portfolio in the altcoins, and the rest of 20% you should hold USDT. So that you can use that money in your daily basic needs and for upcoming buying opportunities. DYOR!

Other than this, I don't know the condition of real estate investment, as you can invest in the lands for the long term to fight against the rising rate of inflation. You can buy Gold if you are not comfortable holding Bitcoin for the long term. This is all up to you, mate. This is just my point of view, not any financial advice to follow. DYOR!

[Faisal2202]

This got me good, it got me thinking if I am doing in wrong? Presently I am escaping that inflation but my response to him is life itself, maybe I won't even live long to see Bitcoin fail?

But what do you people think? Do you think there is a better approach to this solution of mine?

I would have done the same, but putting all eggs in one basket is never a smart move. That is why you should not invest everything in BTC for several other reasons too. It is not likely that Bitcoin will fail in the future because the chances of that are near zero in my view, so you do not have to worry much about that side. But you do have to worry about the dumps and pumps because if you are storing your savings in BTC, then you may need them during an emergency.

And if you are not keeping emergency funds separate from your BTC, then you may be forced to sell even during a bear market when overall valuations can easily be cut in half because BTC can dump by more than 50% very quickly. Therefore, diversification is important.

[Hazink]

Those who talked about the risk associated with trusting your entire savings with Bitcoin are not entirely wrong. Bitcoin appears to be immune to some kind of risk like what we see on altcoins, but that does not make it a risk-free asset. 

While you are looking for means to escape and preserve wealth, also do it with caution reserve some money on stablecoin.

Even if you don’t trust your local currency much, you can always leave some percentage which you are to spend in your daily life on fiat and maybe a little on decentralized stablecoin, which is free from freezing like tether and circle regular does.

[batang_bitcoin]

IMO, you're not alone with that dilemma. Everyone has got to that question about Bitcoin's future. But go back to several years of it because it's been asked and said which made a lot of people worried about bitcoin's future. Moving to the present time, this time it had proved those skeptics. There's a big future for bitcoin and if someone is worried about the future of it. You don't have to think of it when you've got an experience or you've studied the history of it and the reasons why you're holding and believing its future shouldn't changed.

The future is uncertain, it's always like that with anyone, anything and Bitcoin is not exception at all.

Even I am very bullish with Bitcoin, I know the uncertainty of Bitcoin future that in my opinion and expectation is bullish, but I don't have all my money in Bitcoin. It's because the basic uncertainty of the future, including Bitcoin future, so I have to make my plan B when Bitcoin goes bad and I will not lose all my money because of that Bitcoin future.

While we can say that the future is uncertain for everything. With bitcoin, it's here to stay and we have to take that as a real fact. That bullishness for bitcoin is the same for me. I have no doubt for it in its future because for how it went throughout the years, we've seen how it's tested its resiliency. But I won't disagree even with it here to stay, the future is uncertain and only us can unfold it when we pass through the years.

[Agbe]

You are still new in bitcoin investment if not there is nothing to worry about. How much didn't you use that you are disturbing your heart? People have invested billions in bitcoin yet they are calm and not complaining. If you don't have confidence in bitcoin then don't invest in it because you might have BP in your system. And two, your conception on bitcoin and inflation is wrong. The matter you saved you money in the local currency, you will still go back and meet the inflation because bitcoin has not been approved as legal tender currency in your country to buy things and pay for service therefore, you will still use your local currency to buy things so inflation is always with you. Bitcoin is a volatile cryptocurrency. Comes down and rise up. Nevertheless, what I can advise your is, have a plan and it should be a long term plan and once you hit your target, you sell your coins. Bitcoin has come to be among currencies in the world.

[wmiran]

I have literally turned Bitcoin into my bank where I store all my money because the fiat in my country is very bad and inflation hits it faster than most fiat currency of other countries.

But then someone strike me hard with a disturbing question, he said, what if Bitcoin do failed in the future? What is my plan for that?
He said, we don't know if Bitcoin will have a better future tomorrow, imagine you having everything in Bitcoin and something happened.

This got me good, it got me thinking if I am doing in wrong? Presently I am escaping that inflation but my response to him is life itself, maybe I won't even live long to see Bitcoin fail?

But what do you people think? Do you think there is a better approach to this solution of mine?

Keeping everything in Bitcoin reduces one risk (inflation) but increases another (single-asset risk). A more balanced approach is usually safer—use Bitcoin for long-term savings, but keep part of your funds in other assets or stable options so you’re not fully exposed if something unexpected happens. Diversification is the main idea.

[abaeze]

This got me good, it got me thinking if I am doing in wrong? Presently I am escaping that inflation but my response to him is life itself, maybe I won't even live long to see Bitcoin fail?

But what do you people think? Do you think there is a better approach to this solution of mine?

No asset in the world is 100% risk-free. Be it a long-standing fiat currency or Bitcoin. However, the network, security, acceptance, and global recognition of Bitcoin have now reached a point where the possibility of it going completely to zero is very low. But low does not mean impossible. So instead of always relying on the system, you should have some options to deal with any situation. If a serious technical flaw is discovered in the future or something new comes along that takes Bitcoin's place, then you should have some solutions.

So for me, the best solution is diversification because no matter what the asset is, if for some reason it fails once, there is nothing left. Since we are not sure what will happen in the future, it is better to store your assets in three different places instead of keeping all the assets together so that if one system is shut down or ineffective, you have more options to manage your life.

[icebar]

This got me good, it got me thinking if I am doing in wrong? Presently I am escaping that inflation but my response to him is life itself, maybe I won't even live long to see Bitcoin fail?

But what do you people think? Do you think there is a better approach to this solution of mine?

There are many who tried to invest in Bitcoin but due to such doubts, they have backed away from investing. Those who initially thought that Bitcoin was fake are regretting a lot today because Bitcoin is no longer in that position. If you are in the doubt that you are in, if you do not have confidence in Bitcoin, then you will be discouraged from investing in Bitcoin and at some point, you will regret again. Although we do not know what will happen to Bitcoin tomorrow, if we look at the big investors, we will see that they are trying to buy more Bitcoin. They are increasing their investment. However, if you cannot remove the doubts, then you can keep a part of your total investment elsewhere, but it can be assumed that you will regret it after the next few years.

[Humblevirus]

I have literally turned Bitcoin into my bank where I store all my money because the fiat in my country is very bad and inflation hits it faster than most fiat currency of other countries.

But then someone strike me hard with a disturbing question, he said, what if Bitcoin do failed in the future? What is my plan for that?
He said, we don't know if Bitcoin will have a better future tomorrow, imagine you having everything in Bitcoin and something happened.

This got me good, it got me thinking if I am doing in wrong? Presently I am escaping that inflation but my response to him is life itself, maybe I won't even live long to see Bitcoin fail?

But what do you people think? Do you think there is a better approach to this solution of mine?

Based on the volatile nature of Bitcoin, that alone is great proof that all our savings should not be kept in Bitcoin. The price of Bitcoin will continue to go up and down due to its nature. So, if all our savings are in Bitcoin and, after a short period of time, we need money to solve a problem when the price of Bitcoin is down, we may have no choice but to sell. Selling at that time could mean selling at a loss.So, what is the point of trying to avoid inflation so that our money does not lose value, only to still lose value because of market fluctuations?What I am trying to tell you is that you should only invest money that you will not need in the near future, instead of investing all your money. Some money should remain in your local currency, and you should also build an emergency fund. If any problems arise in the future, you may not need to touch your Bitcoin investment; instead, you can use your emergency fund to handle the situation.

[Fivestar4everMVP]

I have literally turned Bitcoin into my bank where I store all my money because the fiat in my country is very bad and inflation hits it faster than most fiat currency of other countries.

But then someone strike me hard with a disturbing question, he said, what if Bitcoin do failed in the future? What is my plan for that?
He said, we don't know if Bitcoin will have a better future tomorrow, imagine you having everything in Bitcoin and something happened.

This got me good, it got me thinking if I am doing in wrong? Presently I am escaping that inflation but my response to him is life itself, maybe I won't even live long to see Bitcoin fail?

But what do you people think? Do you think there is a better approach to this solution of mine?

There is honestly nothing wrong with your approach bud, and as far as I know, bitcoin isn't failing, not in this generation or next or even the one following the next one, how much do you have in bitcoin currently? Now think about those who have invested billions of dollars in bitcoin already and are still investing, do you know better or have better knowledge than they do?

You have to put your mind at rest and stop listening to side talks so long as its in bitcoin you are saving, there are people who are even saving in altcoins that are more riskier than bitcoin and they are supper confident in the coming future.
One thing certain is that bitcoin isn't failing, some governments around the world have invested billions, even creating bitcoin reserves, does this seem to you like an asset that will fail? If yes, then you clearly aren't ready for bitcoin.