Topic: Newbie Don't be afraid of buying Bitcoin - page 3. (Read 485 times)

No don't let us makeba conclusion yet on this until that time comes, but for now, let's embrace the offer we have which is the use of both altogether till when bitcoin becomes the only most recognized and acceptable currency of payment, if we are to consider the present demand and use of money in today's economy, both the digital form and fiat traditional currencies are both valid and existed altogether, but very soon, there will soon be a financial revolution that will emerge whereby all that the people will ever want is the use of digital currency for making payments and exchanges of good and services.

Am very well afraid to buy Bitcoin as it is, because the price has rocketed to what I can not easily afford with family pressure and other bills to pay.
Still I consider BTC as a most valuable investment because of its vision and position in the crypto market.

I have been advised to invest still in BTC and trade if possibly so as I can gain financial freedom, but the commitment is what seems hard and though I plan to do so currently, I am still in doubt as to which strategy of investment will suit me best.

It's a lot different when rich people invest than the poor ones taking an investment. Of course, those rich men have always bigger opportunities to buy bitcoin and expect huge profits as well. While these low income individuals will have to hesitate buying bitcoin because once their investment lose, that means their finances will end up struggling. But one thing is certain, no one is rich or poor when it comes to investment. Everyone ends losing and gaining, but there's always a great advantage if you have a smart and knowledgeable mind that makes you see the real potentials and value of a certain investment.

I really don't know if we shall see this day as much as we want it to happen ,and I understand the de-dollarization could be coming from pressure of BRICS,inflation and printing of money which rides on debt but I think the central bank will always find ways to rescue the currency to avoid going to zero.

These are crypto linked people and they will support what feeds them and where they find their financial security because had they moved their money to fiat it will be easy for the authorities to freeze his money if found guilty for something.

 
Before the system breaks these guys could be about spreading their risk and someone paid to help protect their wealth could have suggested crypto as the best option at the moment.

You or anyone can take the initiative, you don't have to have so much wealth as those men before investing. One thing I believe is that those men in their financial prime started small with risk taking to get to where they are and if they are investing so much millions into bitcoin then the risk is not something new to them for all they see is opportunity and  that is what some of us are not seeing and that's why we are afraid to start with the small with can in investing in bitcoin.

Bitcoin investment is indeed promising in the long term, it has been proven that rich people will get richer by investing in Bitcoin. I honestly cannot overemphasize how profoundly Bitcoin Investing has helped save and change the lives of many people. However, there are also quite a few beginners who remain poor because of ignorance, they should need a lot of knowledge in learning everything about bitcoin so that they finally understand enough to know how to invest in bitcoin and store bitcoin well.

Indeed, to be like them (rich people as you mentioned), it is better for us to take risks and make sacrifices than to remain poor. BTC prices fluctuate, but I think we should educate newbies on what to do besides holding bitcoin.

This people you just mentioned are not just investing in Bitcoin because they have the money to invest,  these  are men that truly understand bitcoin and are very sure of what they can gain from bitcoin. Have seen people who can afford to buy bitcoin but they didn't last long in the market because they do not understand the market.

Investing in Bitcoin can work when their is understanding to know what the market is all about,  then invest accordingly to what you can afford to lose. Investing in Bitcoin is not about being rich but having Understanding , understanding keeps one calm knowing that their will be a time to make profit.

The most interesting part of bitcoins is it's value, though the market is volatile, however, it is practically impossible to loose all, if you miss the bull run today, it's obvious that you won't miss it next time when you keep your eye on the next bull run.
For every new investor, buying bitcoins is good but keep in mind that the market is volatile. The best moment to balance your emotion in terms of investing is the moment you see the value of your asset depreciating. This is a moment every new investor must expect before learning how to avoid it. The reason why I said that is very clear, without hitting hard side of investment at the starting point, one may loose control if they hit it when they invest much fund.  Investing and experiencing the bear market before experience the bull run help you have a good insight of bitcoins.

It is best to start with the money you can afford to loose to keep your mind at rest. If you are new with no experience, start gradually, no rush  and no greed for profit.

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.

Bitcoin is often traded with the US dollar pair and a number of other trades outside of crypto trading, the US dollar is also the most prominent pair so that currencies such as the US dollar are the best compared to other fiat currencies.

They (the rich people mentioned) are aware that bitcoin can be an investment asset that will not experience a decline in value.
They (rich people) are not afraid of losing billions in bitcoin because bitcoin has full custody — between him and bitcoin. Meanwhile, other assets such as fiat currency savings require the involvement of a third party.

0 is too pessimistic of a prognosis. But the purchasing power of the USD today is 40-50% weaker than what it used to be 30 years ago. If we go back further into the past, we are probably looking at 80 or more percent. At the same time, bitcoin has appreciated tens of thousands of percent since it got listed. Maybe even more, I never looked this up.

Very true. But at the same time, no one needs to follow anyone in numbers. The $50 million they invest can be the $50 you invest if that's all you can afford or are willing to invest.

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.

Anybody that doesn’t have fear of a thing they invested definitely didn’t invested with their money, even if you invest with an amount that yes you can lose, you will still be too optimistic of gaining that even if the lose comes along you get a little bit fear especially if it is your first time in that situation. But one of the major causes of big fear that lead to loses the way you’ve put is when the newbies only have its goal set at just profits probably because of the narrative that brought them to bitcoin that you can be rich in it. And some go off their lane to invest an amount considered to be an higher portion in their saves and then causes the fear. But some with better orientation that bitcoin is volatile and definitely bond to go down wouldn’t be in panic or too surprised when it happens doesn’t.


It is a retro attempt to encourage newbies to invest by OP.

Yes most of these wealthy individuals actual built a long term investment and today they are benefiting from it and base on what OP was trying to say, if these men who are supposed to be conscious of their wealth and have better risk management than some newbies decided to rally or accumulate bitcoin then there must be some sort of potential they see in it that newbies ought to also look at.

Although this people have lots of money that they can spare to invest in just any thing but believe when I say that they have better risk management and their growing portfolio of bitcoin holding should be a high moral imperative to newbies to start investing in bitcoin today but after they do there own fundamental analysis.

Is this an attempt to encourage beginners to invest compulsively?

They didn't get rich overnight, they built it for years with several risks that they had to experience. From that experience, they have much better evaluation and risk management. When another risk comes, they are ready with everything. However, you wouldn't expect that to happen to newbies who doesn't have anything yet.

There should be some fear in newbies, as it is expected that they will do in-depth research before getting involved.

Beginners will usually consider many things before they start buying Bitcoin. If they hear more negative news about Bitcoin, they will not buy Bitcoin and will pass it by.

But if they can get the right information about Bitcoin's future, they will immediately buy Bitcoin. They will start buying Bitcoin regularly and keep the Bitcoin until the target selling price is reached. So it depends on how a beginner can understand Bitcoin and see the future of Bitcoin from Bitcoin's journey.

And to start investing in Bitcoin, they only need to use the money they can afford. Don't buy Bitcoin just because other people invite you, but find out what you can get from Bitcoin so that you will be more enthusiastic about learning and knowing more about Bitcoin.

Some how, when you look up these guys net worth, you see that just one of their asset is worth billions of dollar. They can afford to buy what ever they want, and sometime don't even have record of some of their assets. For such persons, a little shift or bear in the price of Bitcoin won't even glitch their net worth so they have nothing to be scared of. For us, who aren't  the rich guys but are trying to hold the line. the best way to invest in Bitcoin without being scared, is to have a reliable source of income. With this you can afford to buy Bitcoin annually using the DCA or what ever amount you choose to buy, depending on the money available at hand.

No I don't think they have much insight.  these guys sometime knows nothing about Bitcoin, they only have the privilege to hodl more of it because they are stinky rich. It can also boost their social influence, because a lot of people probably loves hearing their names mentioned amongst tops men in the world owning a particular asset. I have heard a lot of stories of how these guys lost their funds to scammers and that's obviously because they lack the fundamental principles of storing Bitcoin or other cryptocurrency they just buy them for fame.


Yes but not totally true. There are others who accumulate Bitcoin annually, but aren't stinky rich. The trend will probably continue because we only hear of these rich guys on social media, bragging about how much they hold of a particular asset. For other low key guys who still buys, you won't probably hear their stories on social because they know the risk involved with exposing your identity when hodling such valuable assetBTC

These men you mentioned above invested in Bitcoin because they are wealthy and can do without the Bitcoin investment to survive,  and they also have a clear understanding of how Bitcoin works and they know that their money can never go to zero if they invest in Bitcoin. Some rich men don't invest in Bitcoin because they have no idea how Bitcoin works but they make their investments elsewhere and still make money. If newbies should buy Bitcoin because rich men like CZ are buying it they we be forced to sell their Bitcoin when they are in need to solve their problems. Newbies should invest in Bitcoin when they understand the fundamentals of Bitcoin and have other means of survival so that they will not sell their Bitcoin when there is a price drop or when they need money.

Two charts to support your discussion
Satoshi per dollar
Bitcoin vs Fiat currencies

The purchasing power of fiat currencies including the US. dollar decrease with time while the purchasing power of Bitcoin increases with time, it's fact.

However, if saying investing in Bitcoin will help everyone get rich, it's kind of forgetting about risk. Bitcoin is still a risky investment asset and invest in it mean take risk. I believe in Bitcoin but I don't think there is no risk for Bitcoin investment.

Never mind CZ, Brian Armstrong, and other crypto businessmen, they're expected to have Bitcoin because they're right in the center of the game. But there's this argument I've stumbled upon quite a long time ago that since even the traditional financial giants, or gurus if you may, like Ray Dalio, Paul Tudor Jones, Larry Fink, George Soros, and others have seen some potentials in Bitcoin, there must be something in Bitcoin. If even these brilliant financial institutions see something in Bitcoin, why can't you? If even they are convinced of Bitcoin in one way or another, why aren't you? Are you wiser than them?

There must be some truth in it, but it must be a lot better if you're convinced of the soundness of Bitcoin yourself, and that you're getting into it not because these old men are into it but because you've seen for yourself that Bitcoin indeed has a future. These individuals aren't infallible. You also need to consider that these rich people have some millions to spare in whatever they think has certain potentials. They have the luxury to take risks or perhaps even some trial and error.

I don't think so because it is generic information that is of little use and can even lead to confusion. I hope no one takes it literally. Let's see.


Agreed. But it will be many years before the dollar reaches 0, if it ever does.


These people have more than enough of their basic needs covered and can afford a very high level of consumption, investing the rest. Their case is very different from the beginner approaching this section.


That is nonsense. There are also plenty of times when the stock market goes up and bitcoin goes down. Short-term volatility tells us nothing.


This is generally true, but for a newbie starting out, if they have few resources, they should first try to increase their income, then have savings in fiat and from there they can start buying bitcoin. It is a typical mistake for a newbie who has nothing, who with a lot of effort can buy $50 a month, and then has to sell because he has nothing else and may be forced to do so when the price has fallen.