Topic: A Simple Yet Powerful Message That Will Always Hold True - page 2. (Read 809 times)

This message may often be ignored by beginners who are new to Crypto, but if you translate it more deeply, the words that are repeated many times "Just buy bitcoin and hold onto your own keys or else you are going to get scammed" have a big meaning. I think beginners need to keep this message in their minds to always avoid momentary temptations. Altcoins and NFTs look really sweet when they are on an upward trend, but they won't last long. Prices will continue to decline which can drain the initial capital or worst case have no selling value in the market. Bitcoin has been tested and proven to be able to survive in any conditions, ignoring Bitcoin is the same as ignoring the opportunity to make big profits.

Many people get involved in cryptocurrencies with greed which makes them lose the ability to consider what would be the good or bad. An investor first understand the difference between Bitcoin and Shitcoin. There are many investors who hold shit coins for years and at some point the results are zero. When they have money they become attracted to shitcoins for their greed. When the market turns bearish, it's all over. A shit coin never get ath, it is very difficult. But in the case of Bitcoin it is possible if some one hold bitcoin.

An investor should invest in a platform that increases in value over time. So far many of us are aware of many crypto scams but still rely on altcoins. As an investor you can buy altcoins if you want to gamble. But if you want to benefit from a reliable long-term investment, then no one should move any other platform than Bitcoin.

Bitcoin is one of the most popular currencies among cryptocurrencies. I have seen many people who have never heard of crypto currency but they have heard of Bitcoin. There is a big difference between hearing about Bitcoin and knowing about Bitcoin. We first came to know about Bitcoin by listening to someone talking about Bitcoin, it is a different thing, on the other hand, listening to his talk and being interested in learning about Bitcoin in a new way is a different thing. Newly when we try to learn about Bitcoin on our own we will learn a lot about Bitcoin and when we know roughly about Bitcoin we will have a better idea about investing in Bitcoin.  

People who have a rough idea about Bitcoin and people who have a rough idea about investing in Bitcoin I think if they are told about the investment they will decide to invest in Bitcoin without thinking anything. There are many coins in the market but not every coin can be trusted if any coin can be trusted it is Bitcoin.  
Never invest in other sheet coins, if you want to stay safe for a long time by investing then definitely choose to invest in Bitcoin. If we invest and hold that investment for a long period of time, this kind of worry will never work in the mind that we might lose our investment or we might not get our investment return.

If asked about investment I would say invest in Bitcoin and if asked about investment holding then I would say of course you hold your investment for a long time.

In the world of crypto currency Bitcoin is the number one of them all, if one wants to use any coins in the crypto currency to make as am example to some one that hasn't heard about Bitcoin even for the first the person will use Bitcoin first as an example.
If one have known about Bitcoin it will not be a good idea for the person to divert to any shit coin or any altcoins.

You can see holding the investment for a long time not as greed but as a great opportunity for financial income. Everyone has addiction to money income. This means you cannot compare income addiction with greed. It may be difficult for you to invest and hold that investment for a long time because you are satisfied with a small profit, but we are determined to hold our bitcoins for a long time so it is natural to have a little high expectation from our investment. If you haven't held your investment for a long time, you may be taking a risk of holding your investment for a long time. For the purpose of long term investment first you consider specific time till that time you will hold your investment, if you can hold your investment till specific time then I am sure then you will only think of long term investment. 

Investments always give us something good, because investments always give us something good, that is why we should think long-term about investing, because if we invest with long-term thinking, then that investment will give us something better than good. If you have not planned long term investment before then now you can plan long term investment and invest long term plan hopefully change your thinking about long term investment.

If you do not learn from the experience of others you would definitely have your own bitter experience where learning would be inevitable. The instructions on how to keep your bitcoins safe is so simple yet there are people who lose it because of their greed, their lack of attention to details, just plain laziness which may include, keeping your private key carelessness, drawing unwanted attention to your self in public as Bitcoin investor thereby making yourself a target and so on.

Hypes makes these investors earn more from investing altcoins compared to Bitcoin and it gives them a reason to look for gems and take high risk rather than choosing the safe investment (Bitcoin). However, while many were earning a lot for altcoins, some had also suffered terrible losses and regrets and you're right - that is because they chose the wrong one or scam project and imperfect timing.
It doesn't matter if we choose altcoins provided that we are also securing funds allocated to Bitcoin as in this way, at least we have some assurance that our money will never vanish.

I respect your warning but for many its other side of this story, altcoins have bring good ROI for them than Bitcoin will ever bring, many people don't even know when to buy, that's the problem, they fomo into altcoins and they get dumped on.

With Bitcoin you can start buying any time if we are in a bear market, with altcoins you can't do the same, you need to make sure that you get in early and watch the chart closely,  it's good to always have Bitcoin in your portfolio but altcoins will always bring you good amount than Bitcoin, the bad side of altcoins is too many scam projects but if you know how to find those gems you will still be in profits.

Bitcoin is safer and altcoins expose you to more risks, I have lost money in altcoins like OP said but I have made more with altcoins than my Bitcoin, few that I bought this year have done over 1000% gains already, one of these alts is injective protocol, if you have your doubts you can do your research, another is Solana, the so called shit coin that everyone thought it won't survive because FTX had a lot and dumped a lot too.

If you know how to calculate your risks very well altcoins are not completely bad like some are saying, in fact it's better than gambling with money in a casino, all you need to do is make sure the project is very good and still very early. Right now my altcoin bags is looking better than my Bitcoin bag, though both are in good shape as we speak.

What you're trying to add right now, I think that it's going to complicate things, do you know about the adage one step at a time? I think that we should just let the beginners or newbies to experience first hand buying bitcoin, worrying about the prices is just a step I think they have to know when they finally bought bitcoin. Overwhelming them with all the unimportant stuff when they're just beginning with their journey will likely dishearten some of them.

Well, I want to agree on what the OP has advised to us, but it would be better if you indicated in the subject title that this "Simple yet Powerful Message" are only for newbies out there who don't know where to invest their money with.

I believe that newbies really need to focus their money in investing into Bitcoin "ONLY" as it's considered the "SAFE" asset by many people. It might be a safe asset, but I would call it "the safest cryptocurrency you can invest your money with". That would be better, but overall, I guess OP already shared important details that a newbies must know. Focus on Bitcoin first, and be patient.

Now what about those not newbies anymore? Will you still recommend them to just invest only on Bitcoin, and disregards those altcoins out there especially those that are on the top in terms of market cap?

We will invest in Bitcoin and hold that investment for a long time here why we will depend on luck rather we will invest only with adequate due diligence and investment skills. In my view those who invest depending on luck are fools because investing is not gambling which depends on luck rather investing depends on one's skill. A gambler takes decisions mostly based on his luck in gambling but in investing there is no chance to make decisions based on luck or on his own impulses.

In the case of investment, an investor has to do adequate scrutiny of the market, monitor the market movements and have the ability to be patient enough time to invest, only then can an investor get success from his investment. I don't give importance to my luck when it comes to investing, to those who say I have bad luck that every time I invest in a coin the value of that coin goes down I would like to tell them that you are not unlucky but you are investing at the wrong time with the wrong strategy.  

Understand the market and have enough knowledge about the market and research the market regularly I assure you that you can make your investment with confidence. Investing may be easy but one of the most challenging things for an investor is to invest in the right coin and hold that investment for a long time. By investing in the right coin we mean Bitcoin and we should keep investing in this Bitcoin for a long time.

You are right, and I did not say that. One of the two students who used to sit at the same desk in school, one of whom became a farmer, is not contributing to the economy; he is still playing an important role, while the other, who became a doctor or pilot (whatever you can assume), is also playing his role. In the same manner, the shitcoin buyer is making the market of alts so that by extending the diversified portfolio, we can minimize our risks and gain more, plus we can earn more due to the high volatility of alts than BTC.

Everyone is playing there role in this society either they are shitcoin buyer or BTC buyer as both have key role. I cannot agree more on this with you. It's only a emotion in the minds of people, which made them think that there this action and choices are better or not. Like the shitcoin buyer will praise his choice if it went well for him and the same goes for BTC and vice versa.

How much to allocate to bitcoin can surely be a confusing framework.  I agree that if we are talking about bitcoin versus shitcoins (or altcoins), then bitcoin should likely be composed on at least 90% of that, absent some kind of a justification to be fucking around with some other investments in the "cypto" space.

Now if we are looking at bitcoin versus traditional asset classes such as stocks, bonds, property, commodities and cash(or cash equivalents), then if we are starting out our investment into bitcoin, and we already have those other asset classes in our investment portfolio, then we may well consider anything between 1% and 25% allocated to bitcoin as a starting proposition, and surely there could be reasons to invest outside of that range as well as long as the investor is studying why s/he might want to allocate more or less than the range.. but even 1% is seeming like a pretty small amount, so it would seem quite short-sighted for anyone to be choosing to invest less than 1% into bitcoin.

Another category of person is the absolute brand new investor, and questions whether to diversify or not.  I personally believe that it is not necessary to diversify until maybe reaching a certain percentage of your annual income... so if someone is investing 10% of his/her annual income, then it is going to take 10 years to have had invested 1 years worth of income, so in that kind of a case, probably there would not be any need to diversify beyond bitcoin and cash in less than 3 years time... but surely each person has to consider these kinds of matters in terms of how long is his/her investment timeline and what are the goals that s/he is wanting to achieve.. so frequently in traditional investments, it can take 30-40 years or more to build up enough investments to be able to retire, and if any of us were able to cut those numbers in half with bitcoin, then I would imagine that any of us should be happy with those kinds of results, but it still takes prudence, reasonableness, and consistency when it comes to ongoingly investing into something like bitcoin (and considering how much to potentially diversify along the way into other assets - and not talking about diversifying into shitcoins, unless it would be something like what Litzki1990 mentioned as less than 10% of the size of the bitcoin holdings.

Another related concept is how to treat your bitcoin portfolio if it may well end up appreciating faster than other assets that are in the investment portfolio, and I am personally of the concept to mostly let the bitcoin investment ride, but surely if you ONLY have bitcoin, then it may well be nice to make sure that you have some other investments that might fit into the stocks, bonds, property, commodities and cash categories.. .. and surely those kinds of decisions can vary quite a bit, but they could become real as someone accumulates bitcoin for a while and then starts to see that bitcoin is outperforming other assets, so then there could be some questions regarding how to deal with such outperformance and the extent to which some diversification might be needed (and again, I am not talking about getting into shitcoins, unless it is truly limited to small amounts)..


I think it is good to denigrate shitcoins, and also to dissuade people from diversifying for the mere sake of diversification.. especially into shitcoins.  In the "crypto" space, the idea of diversification is used as a way to distract people into thinking that they need shitcoins in their portfolio and they do not.  Learn bitcoin first, and then maybe after spending 300 or more hours studying bitcoin, then maybe at that point, the person might be ready to think about if there might be any need to fuck around with shitcoins.

Diversifying into other asset classes is another story, and surely more justifiable... even though some people wonder if they need any other investments besides bitcoin and cash and whether it might be overly complicated to be owning those other things, but sometimes it could be good to have ownership stakes in other things.. such as stocks, bonds, property, commodity and cash.. but that still might not become as big of an issue until the overall investment portfolio gets to a certain size.. maybe 25% or more of the annual income, then maybe at that point diversification might start to make sense.. as compared to a brand new investor just getting into bitcoin might not need to diversify at all besides figuring out his/her cash and bitcoin.


Fuck shitcoins.  No need to get distracted with that nonsense, absent if you have figured out bitcoin first.


You cannot just talk about shitcoins generally without getting into specifics, so just your statement in itself (that does not refer to any specific shitcoin) seems to validate that if someone needs to get into one shitcoin or another, then s/he is going to have to spend quite a bit of time studying that nonsense and if they first don't even know bitcoin, then why fuck around with that? Study bitcoin first, and then if after 300 hours or so of studying bitcoin then maybe at that point there might be some justification to dabble in crap, and maybe even after studying bitcoin first, there might become a realization that there is no need to fuck around with shitcoins, except maybe some small part of the size of one's bitcoin holdings, such as less than 10%...

...so why even talk about shitcoins if they were supposedly some kind of a valid investment category if we are not able to name which ones and why. If a person cannot establish which ones and why then that seems like gambling rather than investing... no problem if you want to gamble rather than invest, but it seems to me to be better to be investing and to have some solid goals rather than planning to fail by failing to plan.


How is someone going to carefully select shitcoins if s/he does not know bitcoin first, and do you really believe it is that easy to figure it out rather than getting fleeced.  Sure, after the fact any of us can see that some shitcoins did better than bitcoin at various points in time, but how is anyone supposed to know when to get in and when to get out? Seems like a big unnecessary distraction to me... but sure, people are free to do whatever they like, including getting lured into putting their money into crap and hoping that they time it correctly rather than having a more solid plan that involves steady and ongoing accumulation of bitcoin that likely is going to put someone into a pretty decent position (having more options) 4-10 years (or longer) down the road.. .and sure it is not guaranteed to pay off, but bitcoin remains a very good thing to build up in anyone's investment portfolio, so why dilute such efforts with a bunch of inferior crap that is largely correlated to bitcoin's performance anyhow.

By the way, if you had not noticed, bitcoin happens to be a paradigm shifting technology that is likely creating one of the largest wealth transfers in history,  so why get distracted and/or investment diluted into shitcoins?

The Image is shouting to say it's just greed and an Immature investment strategy, The person who is following this line is only messing with himself.

Such sort of mindset cant be found in the Bitcoiners, mostly shitcoin hunters stick to it, as they lose most of the time, they always consider this market as their lottery tick and they love to gamble. Bitcoiners are not gamblers they are wise ones and they're the only visionary people here.

There are some people who are getting huge returns from NFT projects, Airdrops and other meme coins. Over time, these three methods have been abandoned by some people because they began to see the promising potential in Bitcoin. I am also happy to have been involved in these three models but so far have really stayed away because there is no potential to provide profits after investing and maybe there is not much understanding about the three so it is difficult to see the potential.

Currently and in recent years I have focused more on Bitcoin because there are strong reasons that can attract us to invest in it. Foresight should be the target and perhaps where we should stand to gain maximum profits rather than wasting time on coins that have no fundamental value in the long run because as far as I can see only bitcoin has a much better side compared to other coins.

I was an investor before the era of crypto, and with my unbiased experience, what the OP said which you also corroborate is not particularly true. Bitcoin is an asset and it's not the only asset in the world, not even in the crypto space, we should continue to treat it as such without entirely demeaning the others. If you want to invest in Bitcoin, fine, but it's not right to entirely dissuade people from diversifying their portfolio which is a very wise idea.

I don't see how you would be getting scammed if you buy both Bitcoin and altcoins from the right channels and also store them correctly. Do not be deceived, if not all, almost all people here acting Bitcoin boss and preaching Bitcoin only might have tonnes of altcoins in their wallets, that's human beings for you. But I dislike misleading people.

Carefully selecting your altcoins will enrich you for real. You can see how some moved more than 3 times in the recent bullish run, and you call that faulty? Risk is part of the game, enjoy it while it lasts.

If we talk about the most reliable coins in crypto currency, the name of Bitcoin will come first. Bitcoin is a coin that can be trusted a lot. Coins that have enough reliability and since Bitcoin is easily trusted, we can't think of anything other than buying Bitcoin and holding it for a long time. I think after investing in Bitcoin we don't need to worry about our investment but we need to worry about whether we have stored our wallet keys safely. Since our plan is to buy bitcoins and hold them for a long time, it is very important to keep our wallet keys safe because if we do not keep the wallet keys safe, we may lose access to our wallet after a long time.  

When we invest in other coins in the market, we not only worry about saving the wallet keys but also always have a worry in our mind that maybe our money is lost or if we invest in other coins, we might not get that money back. While there are similar concerns with other coins, there is no such concern with Bitcoin. Investing in bitcoins with only a small amount of money risk will definitely give an investor a lot of good.

We should invest only according to our ability and maintain that investment consistency and if an investor builds his investment portfolio above 90% of his investment should be in Bitcoin then in my view an ideal investment.

Shitcoins are useless coins that only rely on market hype to become a trend after completion they disappear from the market or the price drops, that is the risk of choosing altcoins as an investment it is clear that this will be detrimental and will only please you misguided but in the end it becomes regrettable.

Bitcoin is most important for long-term assets to save for 5 to 10 years, also keep a private key to secure your assets because this is important to protect rather than storing on a centralized platform that has no meaning.
Always advise friends, do not invest in any altcoins because it is clearly risky do not also be affected by any hype in the market including FOMO, airdrops etc. that make you complacent so that you ignore bitcoin as an important asset.
Keep accumulating, wait a long time you will feel how bitcoin will be more valuable than anything.

Bitcoin in the end is still the future of the crypto market. No matter how stiff the competition in the market, but if you prioritize bitcoin over other crypto coins, your investment will always be secured and the chances to gain life changing profits will only be guaranteed by bitcoin and the rest are nothing but a destruction in our portfolio. So focus on the idea of sticking into bitcoin for long term, and secure your private keys by not disclosing it to others, that's the most effective way to get rid of scams and to find yourself stress free and free of unexpected losses.

However, such a very easy message but certainly hard to follow as people want to complicate things more rather than stick to what is basic and proven highly profitable.

Well, yes, this actually makes me remember the fact that you can actually see an altcoin as being a potential coin but will still get disappointed because all altcoins don't follow a due bull and bear season like Bitcoin. For altcoins, it's just pump and dump, while Bitcoin has two market seasons, which are always certain. Some people, after investing in altcoins, fail to always check for updates with that token. The project can decide to swap their token, and those that don't check updates will be left out. But with Bitcoin, there is no coin swap; just buy the dip and hold and never share your seed phrase with anyone or store your coin on CEX.