Topic: How true is this statement? - page 2. (Read 308 times)
Op the information the person gave to you is not sacrosanct. It is misleading. And your first paragraph of the thread is not clear for some people. Bitcoin wallet is only for bitcoin and you can store bitcoin there for thousand of years so I don't know where you got your information that there is no place is safe for bitcoin Investment. Internet is like a community on it's own and everyone has their door with padlocks which are your accounts and passwords plus wallet and when your password is leaked out then definitely you be wipeout everything in the wallet so that is why you are asked to write down your keys and hide it in a safe place.
As odolvlobo says, the performance of past investments won't necessarily repeat indefinitely in the future.
If we knew with certainty that Bitcoin would outperform any other financial asset it would make sense to invest 100% of our net worth in Bitcoin, and there are people on the forum who do, if not 100% then an approximate percentage.
Being a little more cautious we can apply a principle of diversification and apart from investing in Bitcoin, have a house paid for or on the way to paying for it, having equity on it, and then you can invest a little in other sectors to taste, such as commodities, individual stocks or index funds such as the S&P 500.
If we knew with certainty that Bitcoin would outperform any other financial asset it would make sense to invest 100% of our net worth in Bitcoin, and there are people on the forum who do, if not 100% then an approximate percentage.
Being a little more cautious we can apply a principle of diversification and apart from investing in Bitcoin, have a house paid for or on the way to paying for it, having equity on it, and then you can invest a little in other sectors to taste, such as commodities, individual stocks or index funds such as the S&P 500.
Wicked said! Lol, that's someone's name, he said the longer you use bitcoin as your unit of account, the more you begin to realize that it doesn't make sense to make any long term investments with your bitcoin savings...not even in some the best performing stocks from the past few years. They're all down in terms of bitcoin.
That was his own believe and approach towards bitcoin, which doesn't mean it was tge reality in it, bitcoin can be lost, hacked or even go highly volatile, but when you understand all this and how to avoid them, you can never fall a victim, now how do you ensure you don't end up with bad experience, avoid centralized exchanges, secure your private keys, buy the dip and hodl, make research about everything before starting, don't believe in everything you read online except you reconfirm it's true.
Ultimately, it's a free world. For me, Bitcoin is a good long-term investment, and nothing can change my mind.
If you do a blockchain scan, you will find thousands of crypto whales wallet addresses that have been holding millions of dollars in the same wallet for years.
Holding coins for the long term doesn't make your wallet weak or something, if you don't do anything stupid your coins will be where you keep them, all you need do to is keep your private keys safe.
Have you still not figured it out or do you still have doubts? Invest in a hardware wallet, it's the safest option.
If you do a blockchain scan, you will find thousands of crypto whales wallet addresses that have been holding millions of dollars in the same wallet for years.
Holding coins for the long term doesn't make your wallet weak or something, if you don't do anything stupid your coins will be where you keep them, all you need do to is keep your private keys safe.
Have you still not figured it out or do you still have doubts? Invest in a hardware wallet, it's the safest option.
Bitcoin has an intrinsic value and with that value comes the power of utilization. In my opinion, it totally depends from person to person and their way to use technology.
In the end, Bitcoin is just a blockchain-based currency that provides the freedom of being your own bank rather than using the government money so-called dollar.
I am sure as Simpson predicted, the dollar will not exist in the coming years... maybe paper money will for sure be gone in 10 years from now. I can be wrong too lol.
People from African countries are using Bitcoin to save their money from inflation and people from America are using it as gold, as I mentioned earlier, depending on person to person and their current financial situation.
If you have millions, you will see degen longing/shorting bitcoin worth millions and getting rekt so that also makes it a gambling currency.
The only issue with it is that it take ages to get a confirmation on your deposit or withdrawal, without taproot it will not be able to grow and currency like Ethereum with lower gas fee will be future just like how electric vehicles are replacing petrol cars.
In the end, Bitcoin is just a blockchain-based currency that provides the freedom of being your own bank rather than using the government money so-called dollar.
I am sure as Simpson predicted, the dollar will not exist in the coming years... maybe paper money will for sure be gone in 10 years from now. I can be wrong too lol.
People from African countries are using Bitcoin to save their money from inflation and people from America are using it as gold, as I mentioned earlier, depending on person to person and their current financial situation.
If you have millions, you will see degen longing/shorting bitcoin worth millions and getting rekt so that also makes it a gambling currency.
The only issue with it is that it take ages to get a confirmation on your deposit or withdrawal, without taproot it will not be able to grow and currency like Ethereum with lower gas fee will be future just like how electric vehicles are replacing petrol cars.
he said the longer you use bitcoin as your unit of account, the more you begin to realize that it doesn't make sense to make any long term investments with your bitcoin savings...not even in some the best performing stocks from the past few years. They're all down in terms of bitcoin.
Who claimed Bitcoin was only used for speculative purposes? This person despises bitcoin because they are either uninformed or do not see Bitcoin's actual use case, which is the transfer of money without borders and with less intermediary concerns. I don't care about whatever issues or nonsense they have with bitcoin as long as I can do anything I want with my money without worrying about an entity freezing or cutting what I've earned and I can make transactions with people who I have no idea where they are in the world. Remind them that bitcoin is multifaceted asset that relates to different knowledge areas and not just some tool to grow their wealth in an instant.
How true is this statement? I thought bitcoin wallet is best for storing long term investment, since no physical companies are to be trusted 100%, people uses bitcoin wallet to established good investment plans but seeing lead to ask questions of why and how true, which means no where is safe for life investment.
Yes provided you only store bitcoin with that since its only supported bitcoin and not other tokens and coins. It is also safe if you protect it from possible danger or hack. Cause even some might get compromise if not secured properly or been affected by virus. 
... They're all down in terms of bitcoin.
How true is this statement?
How true is this statement?
It is true. However, that does not mean they will always be down in terms of bitcoin.
Wicked said! Lol, that's someone's name, he said the longer you use bitcoin as your unit of account, the more you begin to realize that it doesn't make sense to make any long term investments with your bitcoin savings...not even in some the best performing stocks from the past few years. They're all down in terms of bitcoin.
How true is this statement? I thought bitcoin wallet is best for storing long term investment, since no physical companies are to be trusted 100%, people uses bitcoin wallet to established good investment plans but seeing lead to ask questions of why and how true, which means no where is safe for life investment.
How true is this statement? I thought bitcoin wallet is best for storing long term investment, since no physical companies are to be trusted 100%, people uses bitcoin wallet to established good investment plans but seeing lead to ask questions of why and how true, which means no where is safe for life investment.
Jump to: