Heard the saying about " All your eggs in one Basket " ? Huh ?
Mate! I think you should reconsider this for me, as diversification won't be a bad idea.
For long term purpose Bitcoin! For Profits making I'll say some alternative coins, but be sure of what you're delving into.
Asides Cryptocurrencies, there are others means you can put your racks Real Estate and some landed properties.
Don't chase quick money as you might get your ass Fvcked!!
Topic: Reason why I put all my money in Bitcoin as a newbie - page 10. (Read 1927 times)
Bitcoin has never crashed or a billion coins getting minted out of no we're and dump into the market just like Luna tereUSTD did, so for your peace of mind I advise newbies to rely only on highly decentralized crypto Bitcoin. Until you learn enough to decide which risk to take and which not to.
Considering it was never crashed and turned the price to zero but you must understand the volatile nature of Bitcoin. You didn't predict when the correction will occur and will it will pump, so the best thing that you can do is wait for the perfect opportunity to have a profit. So my question now is, are you willing to wait for that perfect time that will come? The comment above was right, invest only what you can afford, an amount that you're willing to spend, not the source of your daily need. it would be very interesting to see some analysis of BTC vs FIAT in the last 2 or 3 years.
Next 2 or 3 years, I am expecting bitcoin to hit all-time-high above 100k. 
Yes, it's stupid to not own any fiat. Any investment can crash, especially Bitcoin, with which it happens regularly, so converting it to fiat might be forced to be at a loss. A strong fiat currency like USD and Euro is not going to lose its value overnight. Inflation is predictable.
What I just see is that it is ignorant of people that are leaving money in fiat because the government like to do one thing to fiat, to decrease its value. For spending, you are right, but I can not call it stupid, I will call it necessity because it is hard for some people to buy directly with bitcoin and they do not have option than to convert to fiat.Risks should be managed in a way that a potential reward is higher than the downside. With altcoins there's only downsides. They have no future, no one uses them, no one will use them. In 10 years globally nothing changed with altcoins - they have no adoption.
I will agree to this, if I invest in altcoin and I am lucky and make profit, I will sell it for bitcoin, definitely.personally, I am no longer sure that the euro and the dollar are more stable than Bitcoin. I'm even in a big dilemma whether it's better to keep savings in Bitcoin than in Fiat. the strength of the euro has been much lower than just two years ago. (all triggered by the Covid crisis, now deepened by the war)
To be sincere, bitcoin is a speculative asset, its price is volatile, but I understand your point, after long time, bitcoin price will have more value but fiat will have less value, which means you mean safe haven, not stable. For any fiat, what the amount of the fiat can buy today, it can no more buy it in 10 years more after, 10 years is even long, in 2 years especially in countries that have high inflation rate.it would be very interesting to see some analysis of BTC vs FIAT in the last 2 or 3 years.
Next 2 or 3 years, I am expecting bitcoin to hit all-time-high above 100k. 
Free cash? You mean fiat, he can be able to convert some bitcoin to cash if he wants, I can easily convert bitcoin to cash if I want. Also he can easily convert bitcoin if he wants to invest in other assets like gold. I do not see anything bad to leave his asset in bitcoin but it will be good for him to know how the price of bitcoin can be volatile but leading to all-time-high again.
Yes, it's stupid to not own any fiat. Any investment can crash, especially Bitcoin, with which it happens regularly, so converting it to fiat might be forced to be at a loss. A strong fiat currency like USD and Euro is not going to lose its value overnight. Inflation is predictable.
personally, I am no longer sure that the euro and the dollar are more stable than Bitcoin. I'm even in a big dilemma whether it's better to keep savings in Bitcoin than in Fiat. the strength of the euro has been much lower than just two years ago. (all triggered by the Covid crisis, now deepened by the war)
it would be very interesting to see some analysis of BTC vs FIAT in the last 2 or 3 years.
Am still new in this space both in cryptocurrency and in this forum and seeing what is happening even to stable coins lately make me decide to put all my investment funds into Bitcoin since Bitcoin has never crashed or a billion coins getting minted out of no we're and dump into the market just like Luna tereUSTD did, so for your peace of mind I advise newbies to rely only on highly decentralized crypto Bitcoin. Until you learn enough to decide which risk to take and which not to.
Your choice about Bitcoin is good but the idea of putting everything in a single coin or investment was not a smart move. I suggest for you split your funds to some altcoins, but not shitcoins. You can see a lot of potential altcoins, putting some chunks on them gives you some peace of mind that whatever happens to other investments you won't lose all your money, and they're still a way to help it recover. As newbies, we need to widen and enhance our knowledge about crypto investment as there is no excuse for being not able to understand the risk.
Free cash? You mean fiat, he can be able to convert some bitcoin to cash if he wants, I can easily convert bitcoin to cash if I want. Also he can easily convert bitcoin if he wants to invest in other assets like gold. I do not see anything bad to leave his asset in bitcoin but it will be good for him to know how the price of bitcoin can be volatile but leading to all-time-high again.
Yes, it's stupid to not own any fiat. Any investment can crash, especially Bitcoin, with which it happens regularly, so converting it to fiat might be forced to be at a loss. A strong fiat currency like USD and Euro is not going to lose its value overnight. Inflation is predictable.
Some altcoins have value but just that we do not know the next that will follow luna, people should only risk what they can lose on altcoins, that is how I see altcoins.
Risks should be managed in a way that a potential reward is higher than the downside. With altcoins there's only downsides. They have no future, no one uses them, no one will use them. In 10 years globally nothing changed with altcoins - they have no adoption.
Putting literally all your money into Bitcoin is not a good idea, not in a sense that you should buy some alts, but in a sense that you should have other investments and free cash. Rule #1 is to never invest what you can't afford to lose, and no one can afford to lose all their money.
Free cash? You mean fiat, he can be able to convert some bitcoin to cash if he wants, I can easily convert bitcoin to cash if I want. Also he can easily convert bitcoin if he wants to invest in other assets like gold. I do not see anything bad to leave his asset in bitcoin but it will be good for him to know how the price of bitcoin can be volatile but leading to all-time-high again.And as for alts, no one should be touching them, newbie or not. Fundamentally they have no value.
Some altcoins have value but just that we do not know the next that will follow luna, people should only risk what they can lose on altcoins, that is how I see altcoins.
Putting literally all your money into Bitcoin is not a good idea, not in a sense that you should buy some alts, but in a sense that you should have other investments and free cash. Rule #1 is to never invest what you can't afford to lose, and no one can afford to lose all their money.
And as for alts, no one should be touching them, newbie or not. Fundamentally they have no value.
And as for alts, no one should be touching them, newbie or not. Fundamentally they have no value.
Am still new in this space both in cryptocurrency and in this forum and seeing what is happening even to stable coins lately make me decide to put all my investment funds into Bitcoin since Bitcoin has never crashed or a billion coins getting minted out of no we're and dump into the market just like Luna tereUSTD did, so for your peace of mind I advise newbies to rely only on highly decentralized crypto Bitcoin. Until you learn enough to decide which risk to take and which not to.
Jump to: