My little research. - page 4. | Bitcointalksearch.org

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Quote from: Peter Faith on October 23, 2023, 06:54:49 AM

I haven't been here for long but I have taken my time to read through some of the important conceptions about Bitcoin, and with my little knowledge, I really know that Bitcoin is a good means of investment if I can hold it from now till dear life.
I have done a little research about Bitcoin and why some governments refuse to accept Bitcoin in their own country even when they know that they are in power to make the most important citizens in their country access it and take advantage of it, and it wonders me a little.

However, Bitcoin is a risky means of investment and it is not something that investors should be in a rush to sell. I am just saying this out of my own ideas based on my slight research.
I have a little business that I am doing so far, and I would like to accept Bitcoin in my business, but I don't have enough ideas about Bitcoin. That's why I want to learn more, but truth be told, it's good to practice while learning.

Before accepting Bitcoin in your business for payments, you have to understand how you'll accept it and the basic things about it. Since you've mentioned that you're taking your time to read, you're doing the right thing and just keep it up because soon you'll understand how it goes and if many of your customers are willing to pay that for your service.

Quote from: Peter Faith on October 23, 2023, 06:54:49 AM

While learning about Bitcoin, I will have to practice it little by little with the little money that I can afford.

As an investor, yes you need to invest with little money you can afford to lose and as a businessman, you don't need to think how little or big it is when your customer is gonna pay you with it.

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Quote from: Peter Faith on October 23, 2023, 07:36:48 AM

what if one is not a salary earner ?

As long as you understand the risks, you can freely go with it. Usually, an entrepreneur understands more about financial management because income is uncertain.

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Quote from: Peter Faith on October 23, 2023, 06:54:49 AM

I haven't been here for long but I have taken my time to read through some of the important conceptions about Bitcoin, and with my little knowledge, I really know that Bitcoin is a good means of investment if I can hold it from now till dear life.

Bitcoin can be used with many use cases, investment is only one of its use cases. You can also use Bitcoin for value exchange as part of your trade with another trade partner, you can use it for trading on exchanges. You can gamble by using Bitcoin as a collateral for your leverage, futures trading but I don't recommend it. Because leverage, futures trading will bring you very quickly painful losses.

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I have done a little research about Bitcoin and why some governments refuse to accept Bitcoin in their own country even when they know that they are in power to make the most important citizens in their country access it and take advantage of it, and it wonders me a little.

Because they have to protect their central banks, commercial banks, bank system and fiat currency. In future, they will have CBDCs and they must defend their CBDCs as well.

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I have a little business that I am doing so far, and I would like to accept Bitcoin in my business, but I don't have enough ideas about Bitcoin. That's why I want to learn more, but truth be told, it's good to practice while learning.

If your business is small, I assume your business fund is small too. It will not be strong against financial issues and if you accept Bitcoin in your business, your business fund can be changed a lot in value with Bitcoin high volatility.

You must think about it and must have another reserve for your business, best in cash. Bitcoin you get from your business is like your investment and you can reduce cost of withdrawal fee from centralized exchanges after buying. With your business, you directly get bitcoins from your customers.

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Quote from: Peter Faith on October 23, 2023, 06:54:49 AM

I haven't been here for long but I have taken my time to read through some of the important conceptions about Bitcoin, and with my little knowledge, I really know that Bitcoin is a good means of investment if I can hold it from now till dear life.

Long-term hodlers have a better chance of making some profit from bitcoin investment but there is no guarantee that it will happen as you planned. It is good to know that you are interested in the currency, so keep reading.

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I have done a little research about Bitcoin and why some governments refuse to accept Bitcoin in their own country even when they know that they are in power to make the most important citizens in their country access it and take advantage of it, and it wonders me a little.

You didn't tell us the findings of your research. What do you think are the reasons why the government is resisting Bitcoin adoption? For me, some of the reasons are because the government wants to control the financial lives of its citizens and they need tax to survive and bitcoin may deprive them of some.

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I have a little business that I am doing so far, and I would like to accept Bitcoin in my business, but I don't have enough ideas about Bitcoin. That's why I want to learn more, but truth be told, it's good to practice while learning.
While learning about Bitcoin, I will have to practice it little by little with the little money that I can afford.

It is not a bad idea to practice what you are learning with little funds that you can afford to lose. But ensure you do comprehensive research before your business starts accepting Bitcoin. Consider the transaction fees and the best options to make the fees cheaper.

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Quote from: Peter Faith on October 23, 2023, 06:54:49 AM

I haven't been here for long but I have taken my time to read through some of the important conceptions about Bitcoin, and with my little knowledge, I really know that Bitcoin is a good means of investment if I can hold it from now till dear life.
I have done a little research about Bitcoin and why some governments refuse to accept Bitcoin in their own country even when they know that they are in power to make the most important citizens in their country access it and take advantage of it, and it wonders me a little.

However, Bitcoin is a risky means of investment and it is not something that investors should be in a rush to sell. I am just saying this out of my own ideas based on my slight research.
I have a little business that I am doing so far, and I would like to accept Bitcoin in my business, but I don't have enough ideas about Bitcoin. That's why I want to learn more, but truth be told, it's good to practice while learning.
While learning about Bitcoin, I will have to practice it little by little with the little money that I can afford.

You said that you began learning about Bitcoin and somehow developed an interest in it. You did an excellent job of learning about it, and based on what I could see, you clearly understood it. Even though you already know a lot about Bitcoin, just keep learning and expanding your knowledge of it.

It is also a nice plan that you are thinking of because you intend to use Bitcoin in your business. Make it one of your company's payment alternatives, and if any of your clients are interested, show them how to use it.

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Be sure to be aware of the risks before investing and invest a portion of your income that you will not be in too much trouble losing because Bitcoin will always be the same maybe We should spend less than 20% of any income. Decisions must be properly announced repeatedly before doing anything Risks must be identified before investing and any digital currency is a actual threat Whether you are investing for short or long term, do a lot of follow up first RR prepares for long term planning and invest.

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OP, I find your topic a bit confusing. Sounds like you wanna invest in Bitcoin long-term, but you also mention something about accepting Bitcoin in your business? Not totally clear if you're trying to invest, use Bitcoin in your biz, or maybe something else? It'd help if you could explain whether youre looking into investing or bringing Bitcoin into your operations - or I guess it could be both.

Quote from: Peter Faith on October 23, 2023, 07:36:48 AM

what if one is not a salary earner ?

It doesn't matter. Your income source doesn't limit your ability to engage with Bitcoin, especially if you are a business owner.

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You need more knowledge before investing or accepting bitcoin for your business. Not to mention, you need to make sure that bitcoin is legal in the country you live in and that it can be used as a means of payment. Because as we all know there are still some countries that have not accepted bitcoin and do not allow the use of bitcoin as a means of payment. You need to research everything thoroughly before making a decision, but when it comes to investing, you can invest without worrying about legality in your country. You just need to invest quietly and privately.

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Quote from: Peter Faith on October 23, 2023, 06:54:49 AM

I have a little business that I am doing so far, and I would like to accept Bitcoin in my business, but I don't have enough ideas about Bitcoin. That's why I want to learn more, but truth be told, it's good to practice while learning.
While learning about Bitcoin, I will have to practice it little by little with the little money that I can afford.

Bitcoin is volatile which can give you either positive and negative effect once applied to your business. You have a chance to earn more if you accept payment using Bitcoin while the price keep pumping hard during bullrun and vice versa whenever Bitcoin is on bear market.

I believe you already grasp the general idea on how Bitcoin investment work when you said holding Bitcoin till dear life. Bitcoin is good for long term investment so if you have enough funds to cover those profit that enter through Bitcoin payment then you will have never problem on accepting Bitcoin because the price always bounce back every cycle.

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Quote from: Peter Faith on October 23, 2023, 06:54:49 AM

I have done a little research about Bitcoin and why some governments refuse to accept Bitcoin in their own country even when they know that they are in power to make the most important citizens in their country access it and take advantage of it, and it wonders me a little.

Governments are after something and have full control over it, and Bitcoin is something no one can control. That is the main reason why governments are giving so many reasons not to accept Bitcoin because they cannot control it.

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However, Bitcoin is a risky means of investment and it is not something that investors should be in a rush to sell. I am just saying this out of my own ideas based on my slight research.

Not just Bitcoin, all investments are risky, provided you have to invest and wait for a profit after some time. Therefore, a Bitcoin investment is a good, reliable investment.

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I have a little business that I am doing so far, and I would like to accept Bitcoin in my business, but I don't have enough ideas about Bitcoin. That's why I want to learn more, but truth be told, it's good to practice while learning.
While learning about Bitcoin, I will have to practice it little by little with the little money that I can afford.

To get idea about Bitcoin, you need to put it in practice just as you said, but learn first before you start accepting Bitcoin payment in your business.

But are you willing to invest in Bitcoin for a long time? If yes, then you need to set aside some money for that because accepting Bitcoin payments is the same as spreading some good news to encourage people to adopt Bitcoin, but if you keep withdrawing the Bitcoin to run your business, then it is not called a Bitcoin investment.

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Quote from: Peter Faith on October 23, 2023, 07:36:48 AM

Quote from: ImThour on October 23, 2023, 06:57:46 AM

I would say the risk depends on the amount of investment. If you are spending more than 20% of your Monthly Income, you are putting yourself at risk. And in that stage, it doesn't matter if the investment is Bitcoin or any other asset in the world. You need to maintain and invest an amount which you are comfortable losing and then, you will never have to worry about the risks involved as Bitcoin will never be at these prices again. Wink

what if one is not a salary earner ?

@Peter faith, I would like to tell you that, it doesn't matter whether you are a monthly salary earner or not, all you just need is any good means that could provide money for you on a daily, weekly or even monthly, but if you don't have any anything that would put funds, on your pocket then forget about it, you can't invest in Bitcoin, it doesn't matter if you are not getting funds monthly, like you said earlier, that you have a business which you are doing so far, and I believe businesses give little money daily even in a week (although it depends on the type of business), if the business is a good one, it can provide money for you, it is just for you to think on the amount that you could invest into Bitcoin that will not affect you after everything.

Investing is one of the most important things, but during the process of holding, you don't need to be in a rush. If you can only afford $5 weekly from your business after all expenses, it's good to invest with it, but lastly, I would like to say never invest with emergency funds, without you having emergency funds you can't hold for long.

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Quote from: Peter Faith on October 23, 2023, 06:54:49 AM

I haven't been here for long but I have taken my time to read through some of the important conceptions about Bitcoin, and with my little knowledge, I really know that Bitcoin is a good means of investment if I can hold it from now till dear life.

That's true about bitcoin, but however, you also meeds to understand the ways to safely hodl this asset for that long in other not to make a mistake that may lead to loosing your asset, this includes taking good security measures, knowing the kind of bitcoin wallet to use and staying informed always about how to avoid scam and maintaining a good privacy practice over your personal bitcoin wallet sensitive informations.

Quote from: Peter Faith on October 23, 2023, 06:54:49 AM

I have done a little research about Bitcoin and why some governments refuse to accept Bitcoin in their own country even when they know that they are in power to make the most important citizens in their country access it and take advantage of it, and it wonders me a little.

Governments are quite aware of bitcoin and how it can help tackle many economical challenges, they know that bitcoin is what the people wants, their fear is that it's going to render them useless and less effective in having control over a decentralized network like bitcoin, they can't go on with their usual way of using their influence and power to take spy under people's financial privacy and control.

Quote from: Peter Faith on October 23, 2023, 06:54:49 AM

However, Bitcoin is a risky means of investment and it is not something that investors should be in a rush to sell.

Bitcoin is not the only asset that has risk involved, there are many more other assets that we have to consider as being risky to make investment in them, when you understand the way bitcoin should be treated, then you will be more far away from having any security threat over your digital financial currency.

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Quote from: ImThour on October 23, 2023, 06:57:46 AM

I would say the risk depends on the amount of investment. If you are spending more than 20% of your Monthly Income, you are putting yourself at risk. And in that stage, it doesn't matter if the investment is Bitcoin or any other asset in the world. You need to maintain and invest an amount which you are comfortable losing and then, you will never have to worry about the risks involved as Bitcoin will never be at these prices again. Wink

what if one is not a salary earner ?

rachael9385

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Accepting Bitcoin in your business is a good endeavour, but as a beginner you must first have the knowledge of sending and receiving from others before you can make your ideas of Bitcoin acceptance in your business work.
However, as you are not yet an investor, your previous post has said it all. Bitcoin is a good means of investment but it has a higher risk, just like other investments. As you already know, it still depends on how you go about your investment plans and how you think Bitcoin will be of good service to your business.
Bitcoin knowledge is good and you still have to practice what you have learned so far. There are different ways to practice the knowledge of Bitcoin. As you mentioned already, you can still practice it by using it in your small business and also as an investment.

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Quote from: Peter Faith on October 23, 2023, 06:54:49 AM

I have a little business that I am doing so far, and I would like to accept Bitcoin in my business, but I don't have enough ideas about Bitcoin. That's why I want to learn more, but truth be told, it's good to practice while learning.
While learning about Bitcoin, I will have to practice it little by little with the little money that I can afford.

Do you mean that you want to make a breakthrough in business, for example accepting BTC as payment in your business?

If that is the purpose of your discussion, perhaps you need to study more deeply and consider your decision properly. This may be detrimental to you if you receive payments in the form of BTC. BTC is very volatile, maybe you need help from a third party as a service that converts BTC to USD.

However, if you really intend to accept BTC in full as an investment goal, that's no problem, the decision is all in your hands. Bitcoin is indeed feasible if used as a long-term investment. Even though the price falls, Bitcoin is also able to rise again and sometimes exceeds the initial price we bought BTC.

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I would say the risk depends on the amount of investment. If you are spending more than 20% of your Monthly Income, you are putting yourself at risk. And in that stage, it doesn't matter if the investment is Bitcoin or any other asset in the world. You need to maintain and invest an amount which you are comfortable losing and then, you will never have to worry about the risks involved as Bitcoin will never be at these prices again. Wink

Peter Faith

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I haven't been here for long but I have taken my time to read through some of the important conceptions about Bitcoin, and with my little knowledge, I really know that Bitcoin is a good means of investment if I can hold it from now till dear life.
I have done a little research about Bitcoin and why some governments refuse to accept Bitcoin in their own country even when they know that they are in power to make the most important citizens in their country access it and take advantage of it, and it wonders me a little.

However, Bitcoin is a risky means of investment and it is not something that investors should be in a rush to sell. I am just saying this out of my own ideas based on my slight research.
I have a little business that I am doing so far, and I would like to accept Bitcoin in my business, but I don't have enough ideas about Bitcoin. That's why I want to learn more, but truth be told, it's good to practice while learning.
While learning about Bitcoin, I will have to practice it little by little with the little money that I can afford.

Topic: My little research. - page 4. (Read 507 times)