Newbie Don't be afraid of buying Bitcoin

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Quote from: KingsDen on October 14, 2023, 06:14:43 PM

Where I have to disagree with you is the confidence in bitcoin. When CZ made his investment, just a few number of people believed bitcoin, unlike today that many people believe bitcoin. So, the higher risk was in the old and not now.

I don't know if I have argued with you regarding this, but your statement is correct. The risk was higher before, but Bitcoin investment is not risky compared to how it was back in 2011. Even though it's not risky today, I won't suggest anyone invest all their capital in Bitcoin because we don't know how long we will be in the bear market.

Bitcoin usually gives you profit in the long run, but believe me, not everyone has the patience to wait that long. Most of them will end up selling their shares and blame their mentors after waiting a couple of months or one or two years.

If someone understands Bitcoin on their own, they can invest whatever amount they want, and they won't have anyone to blame

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Quote from: odunybiz on October 15, 2023, 07:37:12 PM

Almost everyone knows the potential in holding Bitcoin but getting spare money to buy may seems difficult. Most people keep waiting till they get huge money to buy but this huge money may not easily come once. They do forget they can keep buying using DCA and with time they can hold a reasonable amount.

Of course buying bitcoin doesn't have to wait for you to become rich, as you said, we can take advantage of the dca strategy by buying bitcoin every period. Don't regret it like in 2021 because you missed the bitcoin halving, so while the market is still cheap, take wise steps by paying in installments little by little, whether it goes up or down, just wait, because in 2024 there will be a halving of bitcoin. However, you should still have a 50% fiat reserve in case there are unexpected needs and situations that require fiat immediately.

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Quote from: Kara3 on October 06, 2023, 05:56:36 PM

The purchasing power of 1Us dollar vs 1Bitcoin clearly shows that one is going to zero, while the other is not.

When we compare Bitcoin with the best, most used fiat and most reliable currency in the world, the Us dollar it clear show that Bitcoin is on a different level to the Us dollar.
Let me show you why wealthy men like changpeng Zhao(cz), Brian Armstrong, Jed mc Caleb etc can hold billions in Bitcoin without being afraid.

If you are afraid that Bitcoin would go to 10k,ask yourself why they hold billions in Bitcoin.
Don't you think that they had more insight than you will ever have?
Why do you think Nasdaq crashed 1.8% 2days ago and Bitcoin holding 27k line? Buyers still buy no matter what, that shows confidence in Bitcoin, and remember retail got no money right now.
Inflation is too high, retail salary vanished day it arrives, it not retail that buy Bitcoin now,
you wouldn't like to hear this, but the one buying assets now are the wealthy, they will likely continue the trend of the rich getting richer

I think investment is not a matter of who will be richer and become very rich. Anyone who has capital can invest, regardless of the amount invested. when the goal is to make a profit, then when it's time to sell and get a profit investors can enjoy it. Whatever profits you get from the allocated capital is not actually a measure of investment success.
In investment I believe, there are those who come with small capital and there are also those who come with large capital. the most important thing is don't be too crazy to do it.

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Quote from: GeorgeJohn on October 16, 2023, 01:17:13 AM

Someone that will have such fear of bitcoin Falling and rising is the people who have not peruse into bitcoin and understand its technology, bitcoin almost people that is billionaires in bitcoin don't use to be afraid of bitcoin, they decided on anything that happened during the process of holding bitcoin for long time, if you are being afraid of bitcoin increasing and bitcoin decreasing I think that you can't invest with bitcoin, its better you leave bitcoin investment or you invest and forget about the investment, many do forget about bitcoin investment when they have invested in Bitcoin, so for you to make profit in bitcoin is to invest and forget all about the investment until the time you have in mind, do not be afraid bitcoin because rich people invest more than us and what is their intention of investing more and more, so that is what we should as ourselves.

We also have to understand that those who have no knowledge about Bitcoin will certainly feel uncertainties and much more if they have already been boxed by FUDs. It is sometimes to think that Bitcoin is someone's ambition, especially for poor people and I see their finances give them a reason to decline and are afraid to take their chance. But I can say that rich people are already immune to such feelings (afraid), they can afford to take risks as they are not afraid to lose money as well because they believe that Bitcoin is been a promising investment and having profits is very certain to them.

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Someone that will have such fear of bitcoin Falling and rising is the people who have not peruse into bitcoin and understand its technology, bitcoin almost people that is billionaires in bitcoin don't use to be afraid of bitcoin, they decided on anything that happened during the process of holding bitcoin for long time, if you are being afraid of bitcoin increasing and bitcoin decreasing I think that you can't invest with bitcoin, its better you leave bitcoin investment or you invest and forget about the investment, many do forget about bitcoin investment when they have invested in Bitcoin, so for you to make profit in bitcoin is to invest and forget all about the investment until the time you have in mind, do not be afraid bitcoin because rich people invest more than us and what is their intention of investing more and more, so that is what we should as ourselves.

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Quote from: mvdheuvel1983 on October 06, 2023, 07:01:12 PM

Quote from: Kara3 on October 06, 2023, 05:56:36 PM

Let me show you why wealthy men like changpeng Zhao(cz), Brian Armstrong, Jed mc Caleb etc can hold billions in Bitcoin without being afraid.

These mean you have mentioned are already wealthy. They are dollar wealthy and Bitcoin wealthy. If I were the one with such amount of wealth. I wouldn't mind buying some more Bitcoins every other day. If Newbies only have more monies that they cannot afford lose, they won't be afraid of invest it.

Almost everyone knows the potential in holding Bitcoin but getting spare money to buy may seems difficult. Most people keep waiting till they get huge money to buy but this huge money may not easily come once. They do forget they can keep buying using DCA and with time they can hold a reasonable amount.

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Quote from: Learn Bitcoin on October 13, 2023, 10:35:11 PM

Quote from: KingsDen on October 13, 2023, 07:40:11 PM

He has Bitcoin to invest, but what have we got now? Surely we don't want to invest in anything that we do not understand well. There won't be 2nd bitcoin. Bitcoin is still here to invest, but we are not in the beginning. We know it will grow in the long run. But no one should invest an amount that they cannot afford to lose.

I understand the perception you are coming from but then I have my objections. Saying that CZ understudied bitcoin inclusive of the white paper which made him made a more clear and bold investment is understandable and correct. Also, saying that the likes of CZ discovered bitcoin earlier which is why their returns were very huge is also a correct statement. I am also an advocate of that. I have said and maintained that bitcoin made early investors millionaires and that opportunity is no longer available unless you investment very big capital over the time.

Where I have to disagree with you is the confidence in bitcoin. When CZ made his investment, just a few number of people believed bitcoin, unlike today that many people believe bitcoin. So, the higher risk was in the old and not now.

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Quote from: Kara3 on October 06, 2023, 05:56:36 PM

The purchasing power of 1Us dollar vs 1Bitcoin clearly shows that one is going to zero, while the other is not.

When we compare Bitcoin with the best, most used fiat and most reliable currency in the world, the Us dollar it clear show that Bitcoin is on a different level to the Us dollar.
Let me show you why wealthy men like changpeng Zhao(cz), Brian Armstrong, Jed mc Caleb etc can hold billions in Bitcoin without being afraid.

If you are afraid that Bitcoin would go to 10k,ask yourself why they hold billions in Bitcoin.
Don't you think that they had more insight than you will ever have?
Why do you think Nasdaq crashed 1.8% 2days ago and Bitcoin holding 27k line? Buyers still buy no matter what, that shows confidence in Bitcoin, and remember retail got no money right now.
Inflation is too high, retail salary vanished day it arrives, it not retail that buy Bitcoin now,
you wouldn't like to hear this, but the one buying assets now are the wealthy, they will likely continue the trend of the rich getting richer

it is difficult to make the mindset of poor people and the mindset of rich people same, especially since poor people do not have good financial management knowledge, besides that rich people have privileges that poor people do not have, sometimes for someone to become rich, they need a privilege and not everyone is lucky to get that. I was once in the zone of really having no money, at that time all that came to my mind was getting money to survive, luckily now my finances have improved, and I can slowly invest part of my profits in bitcoin, but regardless of that, investing in bitcoin will never harm you, in fact in the long term it is very profitable.

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Quote from: Kara3 on October 06, 2023, 05:56:36 PM

Let me show you why wealthy men like changpeng Zhao(cz), Brian Armstrong, Jed mc Caleb etc can hold billions in Bitcoin without being afraid.

Investing in bitcoin is not about having afraid or not. I believe that each of us has a cause we are willing to risk our resources for. Not all wealthy men engage in the same activities, even if some wealthy men are doing them publicly. Some wealthy men who are not solely investing in Bitcoin may also take risks with their money in other ventures not in bitcoin.

Despite how exciting the future may look toward bitcoin, some people cannot risk their fortune on volatile assets like bitcoin since they do not know what the future holds for them. People can only spend their entire budget on things in which they have complete faith, not on what they observe wealthy men doing.

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There will be fear when you don't understand what you are trying to invest your hard earned money on, these will be fear if you aren't ready to lose the money you are about to invest in Bitcoin, I don't blame those beginners who are in fear, they might understand what Bitcoin is but not in a good shape to invest in Bitcoin, Bitcoin is great but choose to invest while you can, some people are ready to take the risks while some aren't ready, this is normal.

If you are not ready do not force yourself, just because someone sold his car or house to buy Bitcoin doesn't mean you should do the same, measure the risk you can take before taking the step because there are still risks involved in Bitcoin investment.

I risked it all to get to where I am today, both money and time but I won't advise anyone to do the same unless you are prepared for the losses, first try to understand yourself, do not walk in others' shadows, get a job if you want to invest money in risky assets the easy way, think about how you will survive during this bear market and still be able to invest without hurting yourself.

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Quote from: KingsDen on October 13, 2023, 07:40:11 PM

If you have read or listen to CZ's documentary about his bitcoin journey, you will understand that CZ actually risked all more than he could afford to lose. I mean he defiled the rule of investing what you are able to lose. He was actually called so many names by friends and relatives when the market went against him but the market eventually went his way and he made millions of dollars through bitcoin. Today, many people see him as an opportunist instead of seeing him as a great risk taker.
If you want a different result, stop doing conventional things. Do things out of the box and if it goes wrong, be ready to accept the consequences.

These are exceptional things and the ratio of success is not high. Yes, I heard that CZ first heard about Bitcoin at a Poker table and then he decided to sell his house to invest in Bitcoin. Which is why his mom still calls him a stupid kid. CZ found Bitcoin in its early days and he has learned these things. He read the whole whitepaper a couple of times to understand how Bitcoin works before he invests. How many of us read the whole whitepaper of Bitcoin?

He has Bitcoin to invest, but what have we got now? Surely we don't want to invest in anything that we do not understand well. There won't be 2nd bitcoin. Bitcoin is still here to invest, but we are not in the beginning. We know it will grow in the long run. But no one should invest an amount that they cannot afford to lose.

KingsDen

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Quote from: Learn Bitcoin on October 07, 2023, 05:38:02 AM

Quote from: Razmirraz on October 07, 2023, 02:52:16 AM

Rich people like Changpeng Zhao(cz), Brian Armstrong, Jed Mc Caleb etc dare to store large amounts of Bitcoin because they already know Bitcoin more than other people think. Their knowledge of the uses of Bitcoin has placed them among several other individuals who hold large amounts of Bitcoin.
Logically, if these rich people dare to save large amounts of money in the form of Bitcoin, why are we still hesitant about holding Bitcoin? The risk is definitely there, especially since the price of Bitcoin is very volatile. But sufficient knowledge about Cryptocurrency investment will shape investors to be patient when under pressure.

However, they are already wealthy enough. No one invested more than they could afford to lose. Some of them take risks like CZ to build a business, and he is a successful man so far. I am not saying that you should be afraid of investing in Bitcoin, but no one should invest all their money into one thing hoping it will make them rich and the fiat money will be zero at some point. Fiat money is here to stay, and I do not see the US dollar becoming zero anytime soon. If there are no fiats, how will Bitcoin dominate other currencies? We need alt coins to dominate them.

If you have read or listen to CZ's documentary about his bitcoin journey, you will understand that CZ actually risked all more than he could afford to lose. I mean he defiled the rule of investing what you are able to lose. He was actually called so many names by friends and relatives when the market went against him but the market eventually went his way and he made millions of dollars through bitcoin. Today, many people see him as an opportunist instead of seeing him as a great risk taker.
If you want a different result, stop doing conventional things. Do things out of the box and if it goes wrong, be ready to accept the consequences.

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Quote from: Kara3 on October 06, 2023, 05:56:36 PM

~
you wouldn't like to hear this, but the one buying assets now are the wealthy, they will likely continue the trend of the rich getting richer

I don't know, but reading this part give me a chilling effect. I mean some kind of a different feeling. Cheesy

Kind of weird TBH, but can I say then that I'm wealthy since I'm buying assets then?

In general, emotions are a hindrance towards your better decisions. Letting your emotion decide means trouble, and lost opportunities. You might see an opportunity to buy Bitcoin at below $20,000, but you choose not to because your afraid. Now you lost the opportunity to double your money in just a few months. Being afraid will not benefit you. Risking some of your money sometimes is good especially if you believe that it's a good investment. Bitcoin is a good long term investment, and many think it is. Risking a few dollars investing into it isn't a bad idea. Why letting your feat of losing money get you?

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There’s no point of bitcoin investing if you are afraid to buy bitcoin in the first place. Bitcoin is a secured and long term investment, so if you plan to accumulate more bitcoin, then buy bitcoin when the price is low or through DCA, but never resort into thinking that you should fear buying bitcoin because if it’s highly volatile price. Know that it’s volatility is the reason why these people get successful profits from bitcoin. If there’s no volatility, then expect that bitcoin price will never increase and surge high, instead it will only stay at its fixed and boring price.

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Quote from: Finestream on October 13, 2023, 02:56:13 PM

But for poor people, once they lose their capital, it’s certainly a heartbreaking loss for them because aside that they mostly lack money, some are just even borrowing their capital just to invest. So I can’t blame these poor people if they tend to be scared investing in bitcoin again, not because they don’t understand bitcoin, but because their money is just limited and when they lose them,

Although you might be saying it based on your experience, I think it's very rare for a poor person to take out a loan just to carry on an investment. A poor gambler is very ready to take just a small loan in order to gamble, but the poor person will never take a loan to invest. The rich man can take a loan and invest in what they know will earn them more profit, although they have a better chance of repaying the loan because they have other sources of income. But the poor man will not want to risk the little one he manages to earn as a salary or any work they are doing. They will also not want to take a loan and risk it on an investment that they are not very certain about. I think it's a normal thing. It only takes a well-disciplined and educated person to be able to make some good financial decisions that can help them grow financially. There are a few people who are procrastinating investing in Bitcoin. Although these are not very rich people, they have little to invest. I feel the problem they have is that they are still sceptical about it, and that's the problem most poor people face; they are so sceptical and scared to invest.

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Quote from: Onyeeze on October 06, 2023, 07:10:24 PM

Buying of bitcoin is mind and the person that does not have fear or shake during the time bitcoin is decreasing as a Newbie is someone who knows about bitcoin, some newbies why they are afraid of buying bitcoin and when they buy bitcoin the price of bitcoin they buy began to fall they will be regretting, it is because they have not know bitcoin and sometimes you should not blame them because bitcoin price will fall and rise and put fear to them because they have not experienced falling and rising of bitcoin price before, even till now some people I know very well don't like to invest in bitcoin when the price is falling

Some newbies are not afraid of losing money because the person who introduced them to bitcoin investment advised them about the risks and that it was the best alternative, Some newbies are scared if they have no idea on investment, when the price of bitcoin is falling that is the right time to invest because the price will definitely rise again, if you want to make money you must risk because that is what I believe on if you didn't risk no reward for you, many people are scared to invest because of losing money and most risk your money if you want to be and bitcoin investors, you can't just be getting profit without losing it can be possible because one day you will lose but since bitcoin is volatile the price will increase and you will get your loses back if you leave your bitcoin investment for long term.

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Honestly, at first glance these are words that are true. As long as it's Bitcoin, we don't need to worry about buying and then investing it for short term or long term. Because Bitcoin's value and capital cap are truly extraordinary. Confidence in this first crypto is very high and it will definitely have a good future in the next bullish era. So, believe me, Bitcoin will definitely always be worth it.

But on the other hand, that doesn't mean that we immediately feel that it's easy and trusting. Because, there are several other things that must be ensured when investing in Bitcoin, especially those related to the trust and security system in which we invest. Don't just buy from a platform that promises a large APY, but the platform is not reputable, and we could even lose our assets. That's why, buy a trusted platform so that we can buy more safely (although no one can guarantee 100% safety in the digital world).

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Quote from: Kara3 on October 06, 2023, 05:56:36 PM

The purchasing power of 1Us dollar vs 1Bitcoin clearly shows that one is going to zero, while the other is not.

If I could guess well, the one that's assumed to have the possibility of going to zero is the dollar, and the one that can never go back to zero is bitcoin. Well, I'm a lover of bitcoin, and I'm also an economist. Bitcoin has a good purchasing power, and that has been increasing over the years as it has been gaining value more often as its popularity and adoption continue to spread.

I believe the dollar will never be equal to zero based on my own beliefs; it's just a reality that I have conceived in my mind. This is because the dollar is a country's local currency, which means they use it for their daily exchange of goods and services; they are being paid to others as salaries, and the same currency is being used to make payments for things we need to satisfy our needs and wants, so providing that the dollar use will still continue even if there has been dedollarization, which will make many nations not to use it again, the value remained attached to it.

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Quote from: Kara3 on October 06, 2023, 05:56:36 PM

If you are afraid that Bitcoin would go to 10k,ask yourself why they hold billions in Bitcoin.
Don't you think that they had more insight than you will ever have?
Why do you think Nasdaq crashed 1.8% 2days ago and Bitcoin holding 27k line? Buyers still buy no matter what, that shows confidence in Bitcoin, and remember retail got no money right now.
Inflation is too high, retail salary vanished day it arrives, it not retail that buy Bitcoin now,
you wouldn't like to hear this, but the one buying assets now are the wealthy, they will likely continue the trend of the rich getting richer

Well from the much we’ve observed, Bitcoin seems to define a dip at every bear market and somehow, the dip is maintained through the next bear market and by that I mean; come the bullrun and yet another bear market, the dip isn’t broken.
Now, the dip is around $17k and I don’t see that being broken even in the next bear market but, still, this isn’t a yardstick for measurement neither is anyone billionaire having there billions in Bitcoin a yardstick or reason why you should too.

That was how a lot of users trooped in and quickly trooped out because of Musk.

I expect users to find their own genuine reason for believing and making Bitcoin investments. It’s solely your decision but, I can say Bitcoin is the safest coin out there.

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Quote from: Dr.Bitcoin_Strange on October 10, 2023, 04:14:44 PM

Rich people have the money to invest and keep investing in assets like Bitcoin or other assets that they please, while poor people are scared of investing because they are scared that their little money might slide off their hands or they are only concerned about their wellbeing and not about investing for the future. That's why rich people keep getting richer and why the poor are getting poorer; it only takes a determined poor person, low-class person, or middle-class person to be able to invest. Some of them, even if they want to invest, are rather looking for some quick way to make money, which can land them into investing their money in Ponzi schemes, and they end up still losing the money that they were scared of investing in Bitcoin. Bitcoin is not a bad investment, and it is better for newbies or every other skeptical person to realize it and begin to gradually accumulate Bitcoin.

Rich people can easily afford to lose their money on their investments that’s why reinvesting again is not an issue. But for poor people, once they lose their capital, it’s certainly a heartbreaking loss for them because aside that they mostly lack money, some are just even borrowing their capital just to invest. So I can’t blame these poor people if they tend to be scared investing in bitcoin again, not because they don’t understand bitcoin, but because their money is just limited and when they lose them, they have no money left anymore. That’s why most of them are even tempted to invest for quick profits until they end up seeing theirselves being scammed.

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