This statement can be considered from different points of view, but in general it is not entirely true. Holding bitcoins as a long-term investment may make sense if you believe in the long-term sustainability of bitcoin as an asset. However, as with any investment, there is a risk of losing funds and no one can guarantee success.
At the same time, it is not always correct to compare the bitcoin rate with the stock rate. The price of bitcoin can fluctuate significantly over short periods of time, while stock prices tend to be more stable. In addition, there are many factors that affect the price of bitcoin, including regulatory changes, events in the global political arena, technological innovations, changes in consumer demand, etc.
Topic: How true is this statement? (Read 308 times)
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.
The most important difference between bitcoin storage and bank deposit storage is that bitcoin belongs only to you.
If you don't want to withdraw it from your wallet, then it will stay there until the end of time. In the banking system, your funds do not belong to you.
If the bank wants to take them away, it will block them and you will do nothing.
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.
why isn't Bitcoin safe to make lifetime 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.
Is Bitcoin not not privatised and decentralised enough to protect us from invasion of any nature??
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.
I'm not sure, maybe there are some individuals around wicked said who are not informed about bitcoin and went and invested because of their lack of information about bitcoin and now fail because they did not profit from their investment. Or the wickedsaid claimed he didn't receive appropriate information of how bitcoin investing works, thus he always fails, which is why he don't believe in bitcoin. If not for me, if you're aware about investing and you believe with risk in mind, you'll notice the benefits when you hodl for a long time.
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.
I continue to be skeptical of the existence of alternative unreliable wallets for storing bitcoin for an extended period of time. I am aware of people who have been holding bitcoin for two years, and their coins are still secure. If your private key is secure, nothing can go wrong with your coins. 
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.Or they are maybe part of the anti-Bitcoin group that spread propaganda against Bitcoin. I bet they are more informed than the normal Bitcoiner reason why they are able to twist truth and facts in accordance to what they wanted others to believe.
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.
That should be what we do, ignore biased statements and only believe in the provable fact. We can do it by doing our own research and verifying information whether it is true or not. We should also weigh information in a realistic way in order for us to not be misled.
He is speaking about bitcoins without knowledge and obviously, he is hostile against bitcoins and it's understandable that he hasn't any good thing to say about it.
I think the guy is knowledgeable but due to hate or propaganda, he is possibly twisting facts.
Well, if you want to know how long-term investment of bitcoins really is, see the people that have been holding it for 5-10 years and compare their statement to this idiot who was been talking like this because he is the biggest fan of banks. You better do your own research regarding this and not listen to those people who are cutting every opportunity you have with bitcoins by fooling you around with their trash statements.
There are lots of supporting facts that Bitcoin holders are in green if only they are patient enough to hold and sell at a profit. But sadly that is not the case for most BTC investors. Probably the guy is one of those who suffered losses when he was shaken to sell his Bitcoin during the Bitcoin crash after buying at the peak.
Now the price of Bitcoin has reached $ 30K while the price of gold, for example, is $1,500. What percentage of profit did the father get from investing in gold and how much profit would he get if the father had been investing in Bitcoin since he was 20 years old.
Every investment asset in the market today has its own characteristics, Bitcoin is pretty volatile and its short term movements might not be convincing, especially for short term investors, but in the long term Bitcoin performs better than most assets in terms of appreciation in price, but it isn't every investor that's looking for that, some want a safe haven (store of value) asset which Gold is, and Bitcoin isn't, thus many people would invest in gold and hedge their wealth in it, or they'd just diversify between the two assets. Another thing is Bitcoin isn't close to 40 years (the period for which the hypothetical father has been investing), but gold has been around far longer than that and has proven to be a safe haven asset.Bitcoin isn't even 40 years old but I'm just describing to the OP that investing in Bitcoin makes a lot of sense and statements like stocks are outperforming the last few years are just different people's thinking than what I've seen lately.
People who chose gold to protect their wealth back then were good before Bitcoin came along. Now investing in Bitcoin for the long term is one way to protect wealth in my opinion.
Watch, guide us, and pick us up when we fall
He is speaking about bitcoins without knowledge and obviously, he is hostile against bitcoins and it's understandable that he hasn't any good thing to say about it. Well, if you want to know how long-term investment of bitcoins really is, see the people that have been holding it for 5-10 years and compare their statement to this idiot who was been talking like this because he is the biggest fan of banks. You better do your own research regarding this and not listen to those people who are cutting every opportunity you have with bitcoins by fooling you around with their trash statements.
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.
If you properly secure your coin, there is nothing wrong with holding it for a long time. I've observed a lot of people who hold their coin for a long time in order to save it for later use or until they are happy with the profit made at the time. I think those who are unsure about that are uncertain about their investments.
There isn't a wallet on the market that isn't secure, unless you share your private keys with others or you invest irrationally and lose money. Keep your private keys safe, and never doubt a wallet.
Now the price of Bitcoin has reached $ 30K while the price of gold, for example, is $1,500. What percentage of profit did the father get from investing in gold and how much profit would he get if the father had been investing in Bitcoin since he was 20 years old.
Every investment asset in the market today has its own characteristics, Bitcoin is pretty volatile and its short term movements might not be convincing, especially for short term investors, but in the long term Bitcoin performs better than most assets in terms of appreciation in price, but it isn't every investor that's looking for that, some want a safe haven (store of value) asset which Gold is, and Bitcoin isn't, thus many people would invest in gold and hedge their wealth in it, or they'd just diversify between the two assets. Another thing is Bitcoin isn't close to 40 years (the period for which the hypothetical father has been investing), but gold has been around far longer than that and has proven to be a safe haven asset. 
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.
I don't know why the person concluded that Bitcoin is not a viable long term, but did he give your an alternative investment? But I think everybody is entitled to his own decision or belief. For me, I have not come across any crypto investment that is more genuine, durable, and somehow profitable than Bitcoin.Quote
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.
Decentralized wallets are the best to store your coin but you also have the responsibility to keep your investment safe. There are risks attached to all forms of business so we can not conclude that there is a safe place to invest funds or savings. 
— how good will bitcoin perform in the next decade? Maybe good, maybe bad, but definitely not exceptionally good as the last decade.
And that could be a good thing. The market has become saturated with speculative investors who understand little about Bitcoin and are only interested in profits. Don't get me wrong, profits are good and everyone of us wants a bit of it, but if that becomes the sole reason why people hold it, you have buyers who are only waiting to dump on the next set of investors.Some more stability would attract those who are interested in the features of Bitcoin and not just the price.
Bitcoin has heavily outperformed a huge majority of investments simply because bitcoin back then was in its heavy growth stage. The better question is — how good will bitcoin perform in the next decade? Maybe good, maybe bad, but definitely not exceptionally good as the last decade.
Your attitude and belief in Bitcoin determines how suitable Bitcoin is for long-term investment. The knowledge and information you get here will really help you find direction and determine how you treat Bitcoin.
People who already know and understand bitcoin's journey from year to year will always use it as an asset that must be kept. Secure your assets properly, avoid things that might be infiltrated by other parties with malicious intent. Asset safety is in your hands, never let anyone enjoy the results of the savings that you have kept for a long time.
People who already know and understand bitcoin's journey from year to year will always use it as an asset that must be kept. Secure your assets properly, avoid things that might be infiltrated by other parties with malicious intent. Asset safety is in your hands, never let anyone enjoy the results of the savings that you have kept for a long time.
I'm not in the mood to talk about wallets. I want to give you a story about long-term investing.
Let's say the age of a father is now 60 years. At his current age he only has gold as an invested asset since he was 20 years old.
The father first bought gold at a price of $1,000 and the price of Bitcoin at that time was $100.
Now the price of Bitcoin has reached $ 30K while the price of gold, for example, is $1,500. What percentage of profit did the father get from investing in gold and how much profit would he get if the father had been investing in Bitcoin since he was 20 years old.
Cheers,
Let's say the age of a father is now 60 years. At his current age he only has gold as an invested asset since he was 20 years old.
The father first bought gold at a price of $1,000 and the price of Bitcoin at that time was $100.
Now the price of Bitcoin has reached $ 30K while the price of gold, for example, is $1,500. What percentage of profit did the father get from investing in gold and how much profit would he get if the father had been investing in Bitcoin since he was 20 years old.
Cheers,
There is no investment based on facts, but rather plans and analysis, and that plan may change according to circumstances and situations, and therefore the phrase is generally correct, but try not to believe in anything to a large extent, especially if it is in the future.
In short, if you have money that you do not need and you are not afraid of losing it, then the saying is completely true.
In short, if you have money that you do not need and you are not afraid of losing it, then the saying is completely true.
You asked this question in the bitcoin forum and of course you could have predicted what kind of answers you would get
If you had asked your question on a stock market investing forum, you would have gotten a very different answer.
In my opinion there are no right or wrong answers here and every investment has its pros and cons.
The advice of experienced investors is to always diversify your investments by never investing in just one investment project, but in several investment projects, i.e. in different asset classes.
It is important to analyze the market in detail and, in accordance with your own financial capabilities, make a concrete investment plan and have a clear exit strategy.
If you had asked your question on a stock market investing forum, you would have gotten a very different answer.
In my opinion there are no right or wrong answers here and every investment has its pros and cons.
The advice of experienced investors is to always diversify your investments by never investing in just one investment project, but in several investment projects, i.e. in different asset classes.
It is important to analyze the market in detail and, in accordance with your own financial capabilities, make a concrete investment plan and have a clear exit strategy.
If I am not wrong Tesla stocks were performing good compared to other well known tech stocks after 2021 but if you compare the ROI of best performed stocks with bitcoin the numbers have huge difference so it means more longer you hold bitcoin then you can expect higher returns than stock investment.
In the last one year, many stocks from big tech companies have big drops like 50%, 60% or higher. I don't know it is bad enough for those stocks but let's see their drops as abnormal and see how normal it is with Bitcoin in its past bear market. At today price ~ 30,000, Bitcoin is about a half of its all time high that is not worse than those big tech companies' stocks.Bitcoin historical corrections from all time highs
Quote
Moving on to next question whether we can trust the bitcoin wallets for storing of bitcoin for years, of course you can since you are in complete control of your wallet unlike stocks which is in account of centralized platforms you only access via that third party.
Don't store it on online accounts, on exchanges. Reminder: do not keep your money in online accountsYou will have more safety when you store it in your non custodial wallets like Bitcoin Core, Electrum.
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.
If I am not wrong Tesla stocks were performing good compared to other well known tech stocks after 2021 but if you compare the ROI of best performed stocks with bitcoin the numbers have huge difference so it means more longer you hold bitcoin then you can expect higher returns than stock 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.
Moving on to next question whether we can trust the bitcoin wallets for storing of bitcoin for years, of course you can since you are in complete control of your wallet unlike stocks which is in account of centralized platforms you only access via that third party.
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. 
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.
This does make sense to me because you don't want to spend your bitcoin with another investment as bitcoin itself is your actual long term investment already. But this depends if you're willing to lose that part of your holding for something else.not even in some the best performing stocks from the past few years. They're all down in terms of bitcoin.
Well, it's the thought that counts but honestly I guess that the majority will agree to that because bitcoin is considered as the best performing asset within just a short range and period of time. But you'll never know if some tech stocks will skyrocket and more than the gain that bitcoin will and does.[..] 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.
Bitcoin wallet is for bitcoin and bitcoin is what we're considering as the best long term investment. And if the worry is all about the safety of the bitcoin that you're keeping, there are a lot of ways to protect yourself from such worries because all you need is to be educated and aware of the possible threats that may come to you. 
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.
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