Topic: obsolete bitcoin investment advices [change needed] - page 2. (Read 353 times)

I don't know why someone needs to set a specific percentage in their investment plan in bitcoin, especially about the amount of budget they need to save. Some people saving 5% - 10% of their salary every month is tough, so I think they are just free to do it any amount as long as they want to do it. I would honestly never set that percentage as a specific budget to invest, I mean inflation has punished many people's savings plans. So when I have it, then at that time I will invest it.

You lose bitcoins out of fear and trying to cut your losses when the market corrects in other words people say "Panic". I don't think there is an obsolete method for investment patterns in bitcoin because there is a bullish or bearish market and we can adjust when assets that we have are below the price of capital.

Talking about accuracy and targets it may be true that it is not recommended to use children's education money, savings and other preparations for investment because we do not know that urgent needs can be needed at any time and therefore people must have several sources of income that can be adjusted. But on a long-term scale, placing a child's education security deposit in bitcoin will not hurt you either, because usually education requires more money when children enter university. So that the calculation can be placed on the money we have in bitcoin and the cycle count can be adjusted so that the money can be withdrawn when the child starts entering university.

Of course the steps are more appropriate if you don't put all your money in bitcoin because you have to open several baskets in other investments, so that when the bitcoin period experiences a correction you have other income. The problem is that people don't think long term and bitcoin will also experience a period of decline in the correction phase, so putting all savings and retirement funds in bitcoin is not quite right.

Making investment scale is important and accuracy is also needed to avoid certain conditions, for example conditions that occur outside of predictions and you don't need to sell bitcoins to cover these needs, in other words saving is also important to think about and not always talk about investment.

If you invest your spare money for 10 years, I don't know if you won't make a fortune after another decade  .  I think you are thinking of other investments where there is a need for a huge amount of capital where this kind of concept is not applicable.


There are lots of people that invested in Bitcoin lost their money.  Though it is not entirely Bitcoin fault but due to the ups and downs of market, and the timing of urgent need for money makes people who invested in Bitcoin to sell their holding at a lost.  Also, there are many Bitcoin investment company that goes bankrupt for some reasons, and investors on that company losses money too. 


Bitcoin market is not smooth sailing and do not continuously go up.  It goes in an up-and-down uptrend pattern and people need to know the reason behind that.  In an investment and in any form DYOR is very important to mitigate risk and assure ourselves that we do the right decision.  One can't have a diamond hand if he is not well-versed in the flow of the Bitcoin market.

You do have a point and I bet others also understand your point. But I still think that it's still applicable. Maybe not for everyone, but for others, especially newbies. Those three advices you've mentioned are usually being advice to beginners since they are still exploring and starting their Bitcoin journey so it's not a bad thing to follow these advices. But of course, through time and if you learned enough, your ways of investing and thinking may change. Your level of risk may change and you may start investing more on Bitcoin and not just using your extra money. And same goes for the other advices. These advices may not be applicable to you anymore since you've had enough experience and knowledge, but these things can still be useful for others.

Bitcoin doesn't have any serious written or unwritten investment rules; there was no one who wrote those rules, so no one can easily rewrite them, and you should also at least make suggestions for what the new rules should be; maybe some people will also follow the idea. But, honestly, I still find those old rules very relevant in the Bitcoin community. The Bitcoin market is very volatile, and not everyone can patiently withstand the pressure of not selling during a bear market. When some people invest a large amount of money for the short term and perhaps the market did not see bullish movement as they may have speculated, they may forcefully sell and can sell at a loss. That is why the rule "invest what you can afford to lose" is still relevant. Also, some people are borrowing money to invest in Bitcoin; sometimes the market doesn't give them the profit they want at the right time, and they may be faced with the pressure of repaying their loan and interest. Which is why "investing only spear money" is also advised. There are many reasons for it. Investment is meant to be done wisely and not without knowledge of what someone is doing; that's why those common rules exist.

If you use your entire money to invest in Bitcoin, then which money are you going to use for your personal upkeep? Does that mean anytime you need money, you should sell the Bitcoin you have stocked in your wallet? NO. That is why the advice to invest your spare money in Bitcoin is always good for new investors, so that they can buy Bitcoin with the aim of holding it for a long time.

I agree with this since only those who lose patience and sell their Bitcoins lose money on their Bitcoin investment. However, the advice should be applicable to cryptocurrency investors as well.

This should also be applicable to all, in my opinion, because some new investors think that it is a get-rich-quick scheme where they will just put in their money and it will do 2x in a short period of time, but if they were able to do their research, they would understand how the Bitcoin market works.

No OP I disagree, spare money sounds the same but what I can afford as spare money can be bigger than what others are making per month, what if my spare money begins from 2,000$ per month? If I start buying 2000$, worth of Bitcoin for the next 8 months I will make very good amount of money, so do not judge people because they call money spare money, some people can afford a thousand dollar as spare money.

Just because it's called spare money doesn't mean it's small amount of money.

We have a lot of inexperienced crypto investors, who are investing their money for the first time. These are often very young people, even under the age of 18, who do not have realistic expectations and enough patience and knowledge to succeed in crypto investing.
People who invest in the stock market, Forex and elsewhere usually have a broker who can advise them and warn them about the risks of investing.
Crypto investing should be seen as a very risky investment and approached very seriously and thoroughly.
Given that people here usually invest their money directly, without intermediaries, it is important that they are well informed about the crypto market, analyze market trends in detail and determine concrete investment goals and a clear exit strategy.

Maybe the key word here is "spare money", others though invest fortunes on bitcoin. So obviously a chump change investment will yield you chump change profit.


Everyone in the beginning of their career lost at some some bitcoin. Doesn't mean in trading per se, or investment, maybe is some bitcoin doubler, lost your private keys and others. And then there is the bear market wherein you really need to be mentally tough in order to survived the game.

You see, this is the opinion of the majority of those who want to buy Bitcoin, they do it exclusively for profit, not for the reason why Bitcoin exists. I don't know how all these people are supposed to get rich if Bitcoin doesn't fulfill its primary function.


Many lost, some less, some more - but not only in the way you imagine. It's not just volatility and the wrong decision when to buy and when to sell, but also countless scams, hacks, forgotten passwords or thrown hard disks and the like. Therefore, people should be warned about all these dangers and risks even today, although it will seem unnecessary to some, I think it's much worse to pretend that such things don't happen.


Someone can research as much as they want, but there are so many lies and deceptions in all of this that you have to be a great expert to find out what is true and what is a lie. The facts are that less than 5% of those who trade cryptocurrencies make a profit, everyone else mostly loses.

I would say instead of going YOLO buying, just keep on accumulating every week. 5-10% of your salary should be invested in Bitcoin.
That would make the most sense to make a sensible buying. You never know when price will go up or down, so focus on just getting more Bits.

1. You've got a point. But, it's not about making a fortune with Bitcoin but the risk appetite of most people that have seen it. Even if they won't invest with their spare money, this is like having a safe thought of investing in Bitcoin because they can bear the risk. Although no one stops people from investing not just with their spare money and even with their life savings. The whole point of this is to invest what they're willing to invest and that's it.

2. I'll give you an example of who are those people that have lost investing in Bitcoin. Those people that have invested during the hype of it and it's full of positivities and then it seems like not dropping at all. There were few people that have sold their houses and other assets and even took loans of it and bought Bitcoin at the peak not knowingly that the bear market was about to come. And again, this will come back again to the risk appetite of people. That's why this advice should always be taken note that everyone should invest what they can afford to lose.

There have been newbies that do base through the experience of the first bitcoiners. Thus, they think that's more than enough to trust it and not to understand what volatility is. When you say DYOR for Bitcoin, it's not about the entirety of it but have some idea on how volatile it is and as well as the history of it.

I disagree with this, this advice shouldn't be for altcoin investors as it applies it's to bitcoin too. Making due research is an integral part of crypto for both bitcoin and altcoin investors.

Warren Buffet, a renowned investor was not actually investing what he is able to lose, that was why he became super rich. He was instead investing in early start ups and having large returns. He was using the principle of be greedy when others are scared and be scared when others are greedy

For me, all three tips are still relevant. You have an OP and some decadent moods about Bitcoin. Please explain why, in our time, it is difficult to make money on the free money that we invest in Bitcoin. At a time when many follow this rule, you begin to deny it. With only one thing, I agree that free money is becoming very small in our time.
In the same way, I can't entirely agree with your following proposals. Although the first and second sound the same to me.

IMO, these 3 advices still make sense to me

1. Investing spare money doesn't necessarily mean the money you got after you meet all your monthly needs for survival, it is supposed to be the savings part from your total income which means you should save 20 to 30% of your salary and invest on to different assets to get returns in future.

2. I can point hundreds of them who lost their money due to investing on Bitcoin because they invested in a wrong way. Someone saw the growth if bitcoin at the time if bull market so they took loan at high interest rate and bought bitcoin but after few months the price dropped more than half price than their purchase price now how will repay their debt?

3. It's not only about potential growth, what if someone bought Bitcoin but deposited in a fake wallet so they lose all their assets in no time so its important to gain knowledge about bitcoin, how to store them secured for long term, where to buy it, how to avoid scammers while buying.

I think these stay. Although risk-tolerance is different from one person to another, if you want to be safe and not lose sleep whatever happens to your investment, invest only an amount that is not intended for something else and not big enough to give you stress when you lose.

Whatever Bitcoin has proven in the past decade, it is never a guarantee of what is to come. It is never even a guarantee that Bitcoin will still be here 10 years from now. That Bitcoin's price grew thousands of fold in the past decade doesn't mean it will x5 in the next decade.

To those people who put their retirement money into bitcoin, I hope they didn't go all-in. To those people who have all their savings in Bitcoin, you're probably doing it wrong.


This classic advice won't age. It will always be relevant not only in terms of investment but also in terms of everything else in life. You should do your own research in choosing which to invest, who to marry, what kind of house to build, what brand of car to buy, what supplement to drink, and so on and so forth.

In terms of Bitcoin, you shouldn't stop researching. News affect it. Government policies affect it. Economics affect it. A hardware wallet suddenly introduces cloud backup and KYC. A mixing service keeps sensitive information.

You say buy low sell high, but how to do it without research?

2 and 3 are not bad but 1 is garbage to be honest.


And not only for Bitcoin investment, but for investment in general, if you do not invest with your spare money, you will either invest with money that you will lack in the short term, or you will go into debt to invest and both options have a high probability of going wrong due to the volatility of Bitcoin.

Advice 1 still stands.

1-2. I partly agree — but these advices being good or bad totally depends on the financial situation of the person receiving the advice. Not all advice are one-size-fits-all.

3. Doesn't need to be altcoins. A person should DYOR on whatever investment he/she's going to make. Even if it's bitcoin, it's still utterly dumb to buy anything that you don't understand.

It is your big incompetency if you miss Dollar Cost Averaging DCA for investment advice.

https://dcabtc.com/

No more easily way to invest in Bitcoin than DCA method. You mentioned about spare money so I believe such investors will have good savings, income source so that he/she will be able to apply DCA.