Every crypto newbies need to know this

Odo1972

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Quote from: Outhue on December 04, 2022, 07:42:31 AM

The only thing that keeps giving me the freedom vibe right now is Bitcoin.

Bitcoin is the only innovation that keeps me a bit ahead of the Government.

I am sure that some millionaires and billionaires out there are already sicken of the government and it's banking system.

They monitor you when you made some deposits in the bank.

They sit you down and start asking questions when you are ready to use your hard earned money.

They use your money behind your back to invest for themselves.

This is why I strongly believe that Bitcoin will forever keep it's value intact, do make sure that you at least have 50% of your fund in Bitcoin, whatever your crypto dream might be make sure Bitcoin has its place in your hardware wallet.

This is a good advice. Here in my country I have seen people invited by the government security agency because of some huge transactions that occur in the bank accounts. Some times, some people's bank accounts are being frozen, restricting them from embarking on business deals.

But so far, I've not heard of any single case of a bitcoin holder being called upon for interogation for whatever reason.

Obari

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Quote from: Outhue on December 04, 2022, 07:42:31 AM

They use your money behind your back to invest for themselves.

This is one of the major reasons I don't trust this local banking system in my locality.
Bitcoin over the years has proven itself as one of the decentralized digital currency absolutely controlled personally by its holder with necessarily the present of a third party.
But OP there are some advice that seems to be like a financial advice and while making some post, It will be nice you also state that is is not a financial advice as well as tell your audience to Alo Mae thei own research and all you said are based on your perspective and what works for you.
Also as a Bitcoin and cryptocurrency lover, I wouldn't advice anyone to put 50% of their worth into crypto, not this period that the market is unstable.

indah rezqi

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Quote from: kawetsriyanto on December 09, 2022, 02:31:37 PM

Yep. If you are an experienced investor, 50% is probably not enough. But if it is for newbies, 50% is very very enough, it is even too much as you stated above. At the newbie level, it is better to use a small number of funds. Learning should be the focus, not the potential profits. Only people who have enough experience and knowledge, can consider using 50% of their funds for Bitcoin or altcoins investment. We all believe in Bitcoin future, but sometimes newbies often panic when the price drops drastically. They can fail to take profits if they sell their BTC or altcoins in panic. A newbie needs sufficient experience and knowledge to be a strong holder.

For the initial stage, the higher the percentage of bitcoin that beginners have as an investment, the better for them. Beginners will be safe to invest in bitcoins even if they don't actually have enough knowledge to do the analysis, they just need to buy and hold and secure bitcoins in a non-custodial wallet. In the long term bitcoin will increase because its future potential is very good, so it will work in their favour.

kawetsriyanto

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Quote from: Lucius on December 04, 2022, 08:08:40 AM

If you really believe in Bitcoin, then even 50% is too little - although that is the decision of each individual. For some, it may be too much, especially in the time we are in now, because some have a hard time bearing the fact that their investment has lost value and that they cannot know when it will reach the desired value again.

Yep. If you are an experienced investor, 50% is probably not enough. But if it is for newbies, 50% is very very enough, it is even too much as you stated above. At the newbie level, it is better to use a small number of funds. Learning should be the focus, not the potential profits. Only people who have enough experience and knowledge, can consider using 50% of their funds for Bitcoin or altcoins investment. We all believe in Bitcoin future, but sometimes newbies often panic when the price drops drastically. They can fail to take profits if they sell their BTC or altcoins in panic. A newbie needs sufficient experience and knowledge to be a strong holder.

Getmon

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That is what governments do, to govern its subjects. The issue arises when regulations are more favorable to the wealthy, especially the banks as they control the financial system. Really, it's rigged. Although opening a bank account for our savings is entirely optional, it is unfair that they are using our money to make significant profits while giving us less than 1% in return each year. Banks attempted to stop bitcoin, but how far they can succeed given that certain banks have already recognized its value.

Lida93

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Quote from: Outhue on December 04, 2022, 07:42:31 AM

They monitor you when you made some deposits in the bank.

They sit you down and start asking questions when you are ready to use your hard earned money.

They use your money behind your back to invest for themselves.

Did you know banks could be funny at times! Most of the times I attend the bank for some financial activity, like 8 out of 10 times I observed that there is always uninterrupted available network for depositors and the queues move fast unlike when it comes to withdrawal you will be experiencing network issues with their ATM's that ends up delaying the customers from withdrawing, and I have come to an understanding that it is a deliberate act to deter customers from taken their money from their confines so they don't lack fund to give out for loans, or investments for their own benefit while the customers that owns this money don't even get an interest added into their individual account at the end of the month.

The banks through the government can do anything possible to bar customers from withdrawing their money especially when withdrawal is starting to exceed deposition.

Issa56

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Quote from: Outhue on December 04, 2022, 07:42:31 AM

I am sure that some millionaires and billionaires out there are already sicken of the government and it's banking system.

Not only millionaire's or billionaire are tired of the banking system, even people that are not millionaires are tired. Recently limit have being placed on the amount you can withdraw daily which is kind of annoying, the government just want to be controlling us, that's just the main reason why they are against bitcoin, because they know that bitcoin will give everyone freedom.

Quote from: Note3 on December 07, 2022, 08:19:46 AM

I have my doubts about this because millionaires and billionaires are true friends of the government and they use the banking system to fund their businesses so how can they be fed up with a system that benefits them?

So you mean everyone that's a millionaire currently are making use of banking system to fund their businesses? You are kind of wrong, I know some millionaires that build their business from scratch and didn't take loan from banks to build their business, some of them don't even like making use of bank, but since they don't have choice that's why they keep on using banks.

reagansimms

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The banking system has kept us stuck in a loop that requires us to always follow their rules, obviously it's very boring. Bitcoin has become a solution for everyone who knows the great benefits that are in it, at least we don't need a third party to send money between countries.
Even though the people involved in the banking department have to comply with all the rules, they will secretly use Bitcoin for future investment plans. Bitcoin is very friendly to all levels of society, its presence can provide great benefits for all elements of society. For this reason, the government, especially banks, consider Bitcoin as a threat that can destroy their business.

Asiska02

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Quote from: Outhue on December 04, 2022, 07:42:31 AM

This is why I strongly believe that Bitcoin will forever keep it's value intact, do make sure that you at least have 50% of your fund in Bitcoin, whatever your crypto dream might be make sure Bitcoin has its place in your hardware wallet.

Investing 50% of your hard-earned money in bitcoin is not a big deal, but the main issue here is not knowing what you're investing in. If you urge someone to invest in a business, he or she must comprehend what they are investing in in order to avoid disappointment in the end. People frequently believe that bitcoin is a place where people come to make money overnight, but many are disappointed when their goal is not met at the end of the day. So, rather than fleeing the banking system because they are frightened by it, they should have a thorough understanding of bitcoin before entering into it.

Accardo

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When a person is in control of his money and concludes within him to bear the risks, whether Fiat or Bitcoin he won't be under these conditions you listed. If a person store their fiats somewhere else except in the bank nobody will have the right to use his money behind his back. The same thing is applicable to crypto, if a person stores their money on exchanges their Bitcoin can be used behind their backs to do businesses. So all these are applicable to method of savings. Not everyone that use fiat save them in the bank.

Sandra_hakeem

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Quote from: Outhue on December 04, 2022, 07:42:31 AM

This is why I strongly believe that Bitcoin will forever keep it's value intact,

Those are just majorly the qualities that Bitcoin posses, that's different from the whole FIAT's monetary policies, yunno. It ain't a reason to keep Bitcoin going dude. I don't think Bitcoin has got any blockage on it's way RN as the system has already been accessed, transaction processes have been ascertained, the Blockchain has been made to serve multiple purposes, including the purpose of a LEDGER, mhannn... Crypto won't replace Fiat, EXCEPT OTHERWISE( maybe several options are made to synchronize like FIAT does) but it's a wise choice.

Sandra 🧑

kamvreto

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The government uses Fiat to be able to regulate whatever things people do. Their money is not really their money, Fiat is regulated and managed by the government, and using customer's money for investment to grow their own profit is so easy. Banking and bitcoin are different in every way, because bitcoin is decentralized while banks are centralized which can be managed in such a way. both have their advantages and disadvantages. Fiat is required for major transactions because Fiat is still irreplaceable, while bitcoin is for digital investments and some of them are also used as legal payments but are rare and not fully implemented.
Bitcoin adoption is getting stronger but has not been able to replace fiat, Bitcoin is a good option as a digital asset.

Oceat

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Bitcoin is the key if someone wants to be financially free from using the bank and since not everyone know what the banks are doing. This thread might help them realize that Bitcoin is different from using the third-party to use your hard earned money. Regulation might be a hinder if you are using crypto to fiat but it's different when using only Bitcoin.

They monitor everything of what you are doing with your hard earned money and they also stop you from using it if they think you are using too much and that's not fair. That's why Bitcoin is the only key to whatever you want to do with your own money.

Finestream

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Quote from: Outhue on December 04, 2022, 07:42:31 AM

The only thing that keeps giving me the freedom vibe right now is Bitcoin.

Bitcoin is the only innovation that keeps me a bit ahead of the Government.

I am sure that some millionaires and billionaires out there are already sicken of the government and it's banking system.

They monitor you when you made some deposits in the bank.

They sit you down and start asking questions when you are ready to use your hard earned money.

They use your money behind your back to invest for themselves.

This is why I strongly believe that Bitcoin will forever keep it's value intact, do make sure that you at least have 50% of your fund in Bitcoin, whatever your crypto dream might be make sure Bitcoin has its place in your hardware wallet.

That is why bitcoin is the most secured thing and gives you ultimate freedom you can never find in the government alone. So never be a slave for fiat but do focus more on bitcoin because it will give us the key to a brighter future. As long as you know how to deal with its risks, and you know you are keeping bitcoin for long term at your most trusted wallet, bitcoin will always exceed your fiat expectations and will definitely make you ahead of the government.

Solosanz

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Quote from: Outhue on December 04, 2022, 07:42:31 AM

do make sure that you at least have 50% of your fund in Bitcoin, whatever your crypto dream might be make sure Bitcoin has its place in your hardware wallet.

So you're want to give advice to newbie, but you're tell them to collect at least 50% of your funds in Bitcoin? that's really a bad advice since newbies doesn't know anything about Bitcoin and you force them to have Bitcoin!

The best advice is: just invest that you can afford to lose, Bitcoin volatility is high and you could suffer losses for 10% in a day! many newbies will panic and sell their coins. If they're only use amount that they can afford to lose, they wouldn't mind about the short term dump.

Note3

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Quote from: Outhue on December 04, 2022, 07:42:31 AM

I am sure that some millionaires and billionaires out there are already sicken of the government and it's banking system.

I have my doubts about this because millionaires and billionaires are true friends of the government and they use the banking system to fund their businesses so how can they be fed up with a system that benefits them?

Quote from: Outhue on December 04, 2022, 07:42:31 AM

They monitor you when you made some deposits in the bank.

They sit you down and start asking questions when you are ready to use your hard earned money.

They use your money behind your back to invest for themselves.

This is why I strongly believe that Bitcoin will forever keep it's value intact, do make sure that you at least have 50% of your fund in Bitcoin, whatever your crypto dream might be make sure Bitcoin has its place in your hardware wallet.

Ideally Bitcoin gives us freedom but everyday life will always be about fiat and that is in the banking system so we will go back to bank and hard to avoid.
50% is too much for most lower-middle class people who can only make money for their daily lives without being able to save.

Taskford

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Quote from: Outhue on December 04, 2022, 10:05:12 AM

Quote from: Taskford on December 04, 2022, 09:29:19 AM

Quote from: Outhue on December 04, 2022, 07:42:31 AM

The only thing that keeps giving me the freedom vibe right now is Bitcoin.

Well temporarily maybe yes but don't really on it only since it could also make you broke if you do mistake on your investment.

Quote from: Outhue on December 04, 2022, 07:42:31 AM

Bitcoin is the only innovation that keeps me a bit ahead of the Government.

Government still ahead because one law pass against bitcoin and it will stop everything.

Quote from: Outhue on December 04, 2022, 07:42:31 AM

I am sure that some millionaires and billionaires out there are already sicken of the government and it's banking system.

They control the government on some parts of the country and also they do monopoly so I guess they are not sick with banking system since some billionaires own the bank. Maybe they are sick with bitcoin because they somehow cannot take full control on this creation.

One law passed against Bitcoin will stop everything?

Why haven't that happened yet? The only thing the government keep alive is what they are benefiting from.

Bitcoin has died too many times already, I can't wait to see that happening over and over.

It already happen on some country like China,Egypt,Bangladesh and many other country. They have zero to limited access to cryptocurrency so if this will happen to other country to then provably we can see a stoppage due to law passed against it.

Maybe it didn't happen yet on some country because they don't see the worst yet and see that for now this is beneficial to their countrymen.

Bitcoin hasn't died this word is only used by people who want to scare new investor so that they can create panic and take advantage on certain situations.

dataispower

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Quote from: Outhue on December 04, 2022, 07:42:31 AM

The only thing that keeps giving me the freedom vibe right now is Bitcoin.

Bitcoin is the only innovation that keeps me a bit ahead of the Government.

I am sure that some millionaires and billionaires out there are already sicken of the government and it's banking system.

They monitor you when you made some deposits in the bank.

They sit you down and start asking questions when you are ready to use your hard earned money.

They use your money behind your back to invest for themselves.

This is why I strongly believe that Bitcoin will forever keep it's value intact, do make sure that you at least have 50% of your fund in
Bitcoin, whatever your crypto dream might be make sure Bitcoin has its place in your hardware wallet.

Giving an advice that half of people's funds should be in bitcoin is not ideal. That is your personal opinion. There are many other investment you can go into to. Imagine putting half of your funds on bitcoin and the market happens (in an unfavorable way).
Some people would definitely invest more than 50% of their funds in bitcoin, others might invest 10%, it's a personal decision and everybody does what suits them based on their research, experience and intuition.

Aanuoluwatofunmi

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Quote from: Outhue on December 04, 2022, 07:42:31 AM

The only thing that keeps giving me the freedom vibe right now is Bitcoin.

This is not limited to you alone but on every one of us who hads made the right decision by choosing bitcoin to invest on than any other available cryptos.

Quote from: Outhue on December 04, 2022, 07:42:31 AM

Bitcoin is the only innovation that keeps me a bit ahead of the Government.

I know if governments could have something they can do or use to stop bitcoin from existence they would have done that, but this has always been their imaginery dream which will never come to pass because Satoshi has made it all completely decentralized.

Quote from: Outhue on December 04, 2022, 07:42:31 AM

I am sure that some millionaires and billionaires out there are already sicken of the government and it's banking system.

They were indeed, just that only fee of them could comes out to identify themselves, they still fear the freedom they had been given.

batang_bitcoin

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It's really portraying freedom. The government cannot even touch its network but those that are working and having their business that requires and supports bitcoin, that's where they can have their own intervention which is what we've known as the regulations.
We don't know how many millionaires and billionaires are here already, I mean those that are wealthy already that have started to invest in bitcoin. But we're sure and there's no argument that bitcoin have generated a lot of millionaires and billionaires already. Bitcoin generated the more wealthy people than any other asset if I'm telling that correctly. It is the asset that's no doubt is greater than the existing one being a store of value. We just have to accept the fact that the banking system is like that, and bitcoin is breaking that system because everyone who has a wallet and owns bitcoin is their own bank.

freedomgo

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Quote from: lovesmayfamilis on December 05, 2022, 05:02:50 AM

Stop thinking about millionaires. They will survive under any conditions. The privilege of bitcoin is that it can be useful to poor people. Yes, of course, not everyone has the opportunity to buy as much as they would like. But there is a motivation for education and a motivation for action. Poor people can have hope for a better life by learning how to deal with bitcoin and investing a small amount. At least, I want to believe it, given how hard the members of this forum are promoting bitcoin in their society.

It’s just a matter of proper mindset. Bitcoin gives equal opportunity to all so regardless of your social status, even the poorest of the poor, you can always aim to own bitcoin at any cost. But make sure that you are also ready to deal with its risk too as bitcoin can eventually make you rich from long term hodling, but it can also lose your funds instantly if you tend to become an irresponsible bitcoin hodler.

Viscore

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Quote from: Lucius on December 04, 2022, 10:30:20 AM

Quote from: Outhue on December 04, 2022, 10:05:12 AM

Bitcoin has died too many times already, I can't wait to see that happening over and over.

Bitcoin never died, it's all nonsense from various so-called experts and so-called journalists who in their work try to create as many clickbait titles as possible so that someone would read their meaningless articles. If someone were to carefully search all the articles in the world, I'm sure that every day they would find at least one article claiming that Bitcoin is dead.

Even a lie repeated a thousand times is still a lie, especially if it is based on only one factor, namely the price. I am sure that these same journalists will not write that some well-known company is dead because it lost several hundred billion dollars overnight due to the drop in its stock price.

Well expect for bitcoin to be always declare as dead every time the bear market attacks because that’s how those people wanted bitcoin to end up as they become reluctant to trust bitcoin more than fiat. However, when the bullish market comes in, then why do those people eventually ride with the hype? And when they start losing, they will claim it again that bitcoin is a big scam. Seems that’s there’s never an end to bitcoin lies and accusations.

lovesmayfamilis

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Stop thinking about millionaires. They will survive under any conditions. The privilege of bitcoin is that it can be useful to poor people. Yes, of course, not everyone has the opportunity to buy as much as they would like. But there is a motivation for education and a motivation for action. Poor people can have hope for a better life by learning how to deal with bitcoin and investing a small amount. At least, I want to believe it, given how hard the members of this forum are promoting bitcoin in their society.

JoyMarsha

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Quote from: Outhue on December 04, 2022, 10:05:12 AM

One law passed against Bitcoin will stop everything?

The bare minimum that can be done is to regulate bitcoin or for a nation to proclaim it an illegal form of payment (which some countries have already done). In the future, I don't see bitcoin being outlawed completely.

Quote from: Outhue on December 04, 2022, 10:05:12 AM

Bitcoin has died too many times already, I can't wait to see that happening over and over.

What do you mean by bitcoin dying? is it in price or what? in terms of price? The reason for Bitcoin's price decline is its volatility, however, this does not make it a death asset. It continually changes in price but bounces back at least.

hatshepsut93

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First things first, in your title you said "crypto newbies" and in the OP you talk about Bitcoin. Crypto in general is a scam, they use Bitcoin's reputation to create worthless coins with the sole purpose of dumping them to investors.

Quote from: Outhue on December 04, 2022, 07:42:31 AM

Bitcoin is the only innovation that keeps me a bit ahead of the Government.

Bitcoin is only a currency, it can't solve anything that is not related to money.

Quote from: Outhue on December 04, 2022, 07:42:31 AM

This is why I strongly believe that Bitcoin will forever keep it's value intact, do make sure that you at least have 50% of your fund in Bitcoin, whatever your crypto dream might be make sure Bitcoin has its place in your hardware wallet.

There's a good argument that Bitcoin will have some value because it has utility and adoption, but there's unfortunately no good mathematical model for estimating this value. We have no idea if todays price is objective overpriced, underpriced or just right.

Gozie51

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Quote from: Outhue on December 04, 2022, 07:42:31 AM

They use your money behind your back to invest for themselves.

All the banks do this with depositors money to invest in different parts of the economy and outside the country and who are the bank CEOs ? or bank owners? They are those in government of course and they are those trying to discourage bitcoin hodlers but they won't succeed to stall bitcoin. The poor and youth have found the freedom needed where you can control your money by yourself and not throw it into one bank for them to feast on it and send you monthly bank maintenance charge on your account. All those frivolous charges are cut off using bitcoin.

Anguwa

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You are correct that some millionaires receive a percentage from banks as a result of their high investment, but I believe that this is a waste of time given that they could be investing their money in Bitcoin rather than spending their time waiting for small changes from banks. Government agencies monitor the flow of money into people's accounts in countries like Nigeria as a result. If you deposit too much money, you must explain to the government where the money came from, but investing in bitcoin has nothing to do with that because it is transparent.

2stout

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Quote from: traderethereum on December 04, 2022, 12:01:56 PM

Quote from: Outhue on December 04, 2022, 10:05:12 AM

One law passed against Bitcoin will stop everything?

Why haven't that happened yet? The only thing the government keep alive is what they are benefiting from.

Bitcoin has died too many times already, I can't wait to see that happening over and over.

Yes, bitcoin has died too many times but fortunately, it still has the power to rise again and can even attract more people to invest in bitcoin.
Even if one law after another is passed to stop bitcoin, it will not happen because the government can't control the movement of bitcoin.
Maybe one day, the government will enact stricter laws to control its users, but that doesn't mean bitcoin will lose the trust of its users.
If you can't wait to see bitcoin die, you better keep waiting and miss the opportunity to benefit from bitcoin.

Bitcoin is like the Phoenix, except it has never truly died. However, it has risen from what those who don't understand may call "near death experiences" but we here know better.

traderethereum

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Quote from: Outhue on December 04, 2022, 10:05:12 AM

One law passed against Bitcoin will stop everything?

Why haven't that happened yet? The only thing the government keep alive is what they are benefiting from.

Bitcoin has died too many times already, I can't wait to see that happening over and over.

Yes, bitcoin has died too many times but fortunately, it still has the power to rise again and can even attract more people to invest in bitcoin.
Even if one law after another is passed to stop bitcoin, it will not happen because the government can't control the movement of bitcoin.
Maybe one day, the government will enact stricter laws to control its users, but that doesn't mean bitcoin will lose the trust of its users.
If you can't wait to see bitcoin die, you better keep waiting and miss the opportunity to benefit from bitcoin.

Z-tight

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Quote from: Outhue on December 04, 2022, 07:42:31 AM

They use your money behind your back to invest for themselves.

I believe everybody should know when their money is in the bank or with a centralized service that it isn't just sitting there the way they deposited it, when you log into your profile or account you will see the exact amount you have deposited, but consider it money that you are "owed" by the centralized service, which they would give to you when you request for it, except if they run into problems like bankruptcy, and they do not have enough in their reserves, then withdrawing the amount you can see in your account becomes impossible, which proves that in any case it wasn't sitting there the way you deposited it.

Quote from: Outhue on December 04, 2022, 07:42:31 AM

do make sure that you at least have 50% of your fund in Bitcoin, whatever your crypto dream might be make sure Bitcoin has its place in your hardware wallet.

Do make sure the amount of funds you have in BTC is what you can afford to lose, 50% of ones funds looks like what's too difficult to lose, but it is a personal choice. In any case your BTC shouldn't be kept in any exchange, but safe in self custody, i believe if one successfully protects their BTC from scammers they can't lose anymore, except such a person is greedy and impatient.

Lucius

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Quote from: Outhue on December 04, 2022, 10:05:12 AM

Bitcoin has died too many times already, I can't wait to see that happening over and over.

Bitcoin never died, it's all nonsense from various so-called experts and so-called journalists who in their work try to create as many clickbait titles as possible so that someone would read their meaningless articles. If someone were to carefully search all the articles in the world, I'm sure that every day they would find at least one article claiming that Bitcoin is dead.

Even a lie repeated a thousand times is still a lie, especially if it is based on only one factor, namely the price. I am sure that these same journalists will not write that some well-known company is dead because it lost several hundred billion dollars overnight due to the drop in its stock price.

Outhue

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Quote from: Taskford on December 04, 2022, 09:29:19 AM

Quote from: Outhue on December 04, 2022, 07:42:31 AM

The only thing that keeps giving me the freedom vibe right now is Bitcoin.

Well temporarily maybe yes but don't really on it only since it could also make you broke if you do mistake on your investment.

Quote from: Outhue on December 04, 2022, 07:42:31 AM

Bitcoin is the only innovation that keeps me a bit ahead of the Government.

Government still ahead because one law pass against bitcoin and it will stop everything.

Quote from: Outhue on December 04, 2022, 07:42:31 AM

I am sure that some millionaires and billionaires out there are already sicken of the government and it's banking system.

They control the government on some parts of the country and also they do monopoly so I guess they are not sick with banking system since some billionaires own the bank. Maybe they are sick with bitcoin because they somehow cannot take full control on this creation.

One law passed against Bitcoin will stop everything?

Why haven't that happened yet? The only thing the government keep alive is what they are benefiting from.

Bitcoin has died too many times already, I can't wait to see that happening over and over.

Taskford

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Quote from: Outhue on December 04, 2022, 07:42:31 AM

The only thing that keeps giving me the freedom vibe right now is Bitcoin.

Well temporarily maybe yes but don't really on it only since it could also make you broke if you do mistake on your investment.

Quote from: Outhue on December 04, 2022, 07:42:31 AM

Bitcoin is the only innovation that keeps me a bit ahead of the Government.

Government still ahead because one law pass against bitcoin and it will stop everything.

Quote from: Outhue on December 04, 2022, 07:42:31 AM

I am sure that some millionaires and billionaires out there are already sicken of the government and it's banking system.

They control the government on some parts of the country and also they do monopoly so I guess they are not sick with banking system since some billionaires own the bank. Maybe they are sick with bitcoin because they somehow cannot take full control on this creation.

BitMaxz

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Block halving is coming.

Banks have their own purpose don't compare them with Bitcoin because Bitcoin is different you can use their wallet as your own bank but the price of Bitcoin is too volatile you can't just put 50% of your funds into Bitcoin without knowing the Bitcoin history. Bitcoin is an asset it is likely the same as gold the only difference Bitcoin is too volatile.

And take note banks have their own security to protect your funds, unlike Bitcoin which depends on you how you protect your wallet.

Zaguru12

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It's only few of the so called billionaires that are into bitcoin due to the monopoly They benefit from banks. It is even these rich people that are given peoples money as loan to invest with, so you don't expect them to come into fair and equal space like bitcoin.

With all that said and also a bitcoin enthusiast I still believe it is way risky to put 50% of your worth or investment into it. Bitcoin is at a stage where it requires enough patience for long time holding and 50% might just be too much to lay off for a long time. So a 5-20% of investment will worth the risk.

Lucius

legendary

Activity: 3220

Merit: 5628

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Quote from: Outhue on December 04, 2022, 07:42:31 AM

I am sure that some millionaires and billionaires out there are already sicken of the government and it's banking system.

Why would they be? The system is designed so that it suits them perfectly, whether it is accounts that are in their name, or some secret ones through which they hide their money in order to pay less tax. They are among the last in the world who would change that system, because if you think that they think that Bitcoin is better than fiat, then why don't they invest their wealth in it?

Quote from: Outhue on December 04, 2022, 07:42:31 AM

This is why I strongly believe that Bitcoin will forever keep it's value intact, do make sure that you at least have 50% of your fund in Bitcoin...

If you really believe in Bitcoin, then even 50% is too little - although that is the decision of each individual. For some, it may be too much, especially in the time we are in now, because some have a hard time bearing the fact that their investment has lost value and that they cannot know when it will reach the desired value again.

Outhue

sr. member

Activity: 686

Merit: 403

The only thing that keeps giving me the freedom vibe right now is Bitcoin.

Bitcoin is the only innovation that keeps me a bit ahead of the Government.

I am sure that some millionaires and billionaires out there are already sicken of the government and it's banking system.

They monitor you when you made some deposits in the bank.

They sit you down and start asking questions when you are ready to use your hard earned money.

They use your money behind your back to invest for themselves.

This is why I strongly believe that Bitcoin will forever keep it's value intact, do make sure that you at least have 50% of your fund in Bitcoin, whatever your crypto dream might be make sure Bitcoin has its place in your hardware wallet.

Topic: Every crypto newbies need to know this (Read 321 times)