I think an addiction, no matter what it is, is not good. And I wouldn’t advise you to indulge in any form of addiction(bitcoin included).
You mentioned you’ve got 99.99% of your funds in bitcoin. Although that may be applauded by some, I would say it isn’t a good nor smart move. I personally think it’s strange
You do not put all your eggs into a basket; no matter how sturdy it is. That’s why you should share your eggs into various baskets. Diversification is important. I also think you should hold more than .001 of your funds in fiat as it’s undeniably more widely accepted and used.
You are getting it wrong, I am not addicted, I only asked if I was addicted. This is a plan that has investments inclusive, and it is earning for me. So it's good.
This is a good manifestation but putting uour money on investment, means you are also putting it at risk (since you've mentioned that almost all of your savings were converted to Bitcoin). But indeed there's a chance for profit but consider market behavior as well. Also, quite concerned with using it as a mode of payment especially at this moment wherein market is down for months. I prefer holding or using it as an asset to make profit in the future once bullish trend enter. I am also planning and hoping that one day it will be used as one of the options to pay a service but definitely, it is still too soon for such thing given that adaptation is still on process.
Thank you for this advice. I have been in the investment environment for a long period of time, and BTC only gave me an opportunity to make more money, it's working as planned. Mind you, without taking risks, you can't gain much, I did not take risks during the bullish runs of BTC, and I am using this plan to cover up for the missed opportunity.
@OP, do you have a job or real source of income?
Percentage figures that are difficult to accept in whatever part of the world you live (unless you are still living with your parents). It's not about how skeptical you are of the bank, but one must have a liquid reserve fund for emergencies. Another question, do you always carry your bitcoins anywhere and access them in random places without worry?
Yes, I have means of livelihood and I don't have issues moving my money from BTC to fiat if I want to.
You can as well buy shares in some reputable companies and financial institutions if you are financially buoyant enough.
Yeah but I never could get myself into investing in the stock market. In fact over the past couple of years we had a booming stock market and in certain periods it even gave better profit than bitcoin but even then I couldn't enter it since it never made any sense to me to trade shares like this. I know it is a little weird but I find the whole concept seriously flawed!
Stock is a very good option for investments if one has the money. It could be a long-term plan as most stocks in developed countries often appreciate it. Specifically, I advise people to invest in the US stock market, but one has to be extremely careful and speculative at this point as most of them are at their record highs.
