Reason why I put all my money in Bitcoin as a newbie - page 7.

peter0425

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Quote from: Tellek Garing on May 20, 2022, 01:51:54 PM

This is I good move to put your investment into Bitcoin 100%, I will like to advise you to only invest only what you can afford to let go maybe some leftover funds.

Because Bitcoin is also a volatile asset that its price can sometimes be unpredictable but Bitcoin is less volatile compared to other altcoins.

While it is Bitcoin is the best investment tools in crypto yet I don't wanna advise OP to stick in Bitcoin as diversification is still the most safest and clearer investing , as long as you know how to choose a coin to add in your bitcoin.

Example Binance and Ethereum , then add ADA and Monero , those coins are the safest and a secure coins to keep holding for long term.

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Quote from: bitterguy28 on May 23, 2022, 05:27:48 AM

You did a great decision here mate , there are so many of us who loves risking in Shitcoin and then will blame the whole market when they fail in their plans .

Nowadays there are several occasion that we invest in this and that but in the end ? it is still bitcoin that will bring us assurance and profit so why hesitate in something that assures you?

so Congrats mate , you did a good job in that investing.

This is true but at the end of the day diversification is not that bad if you know what you are doing. Best thing about the current situation is that if you could put "enough" money into bitcoin, then risking just a small amount into altcoins is not bad. By this I do not mean like ETH or BNB, they are already great and you should invest into them, I mean all those shitcoins that people invest into.

We are taking those risks because nobody really knows which one of them could go up that much. Of course they will be bad investments but just to give an example if you have 10k dollars in good ones, then having 100 dollars in few bad ones couldn't be that bad.

bitterguy28

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Quote from: Tellek Garing on May 19, 2022, 01:50:08 PM

You should look in another direction and try to build a diversified portfolio unless it is for setting aside funds that you want to look away from for a long period.

If you looking for a long time saving then I will say the idea of Bitcoin is best especially if it is money you don't need.

If you read the thread completely , It looks like OP is now trusting bitcoin about his investment and not caring About other areas and like what you said it is for long term Holding so indeed that it is His position to keep the holding and maintain supporting bitcoin.
Yes Diversification is supported by many currency and chances but for the long time knowledgeable about crypto , they completely learn that it is still bitcoin is the safest and the best choice.

Chato1977

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Quote from: Ojima-ojo on May 17, 2022, 05:39:13 PM

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.

I considered you as not totally newbie because of your behavior in market, because you shows no greediness but instead the interest and knowledge in investing , please continue that attitude for you to have a successful investing.

Oceat

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Quote from: dunfida on May 23, 2022, 07:47:02 PM

Quote from: Kasabus on May 23, 2022, 07:34:23 PM

Quote from: hatshepsut93 on May 17, 2022, 05:59:14 PM

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.

Crypto investors have known already that bitcoin is the best asset in the market, but its not reasonable to risk all your money investing in a volatile investment. Regardless of how expensive it is, its still prone to losses so an investor should still be cautious whatever the result of his investment. I suggest leave some fiat in your account, that will be a lot safer even if the rest of your money will go to bitcoin and other investments outside crypto.

Going all in is suicide considering that crypto is volatile and doesnt have assurance.For someone who had taken that life gamble kind of decision then they should really be prepared on what are the other impacts or

circumstances that they would really able to experience once the market had made out some opposite movement on what they had predicted? Also you should have some left fiat for normal basis.

Just make it sure that you wont really be regretting in the end of the line on making such decision.

Bitcoin for sure is an assurance although not in a making profit for a short time since it has a cons too and that is getting profit only in the long run. But for altcoins, you can't identify your assurance there because they don't last for long since most of them are only good from the start. And I agree to OP's decision since most of these new altcoins are good at pump and dump and we know who's making profit from our investment in that and most of these developers doesn't care if you lose your investment because they think that's how the altcoin market works.

dunfida

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Quote from: Kasabus on May 23, 2022, 07:34:23 PM

Quote from: hatshepsut93 on May 17, 2022, 05:59:14 PM

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.

Crypto investors have known already that bitcoin is the best asset in the market, but its not reasonable to risk all your money investing in a volatile investment. Regardless of how expensive it is, its still prone to losses so an investor should still be cautious whatever the result of his investment. I suggest leave some fiat in your account, that will be a lot safer even if the rest of your money will go to bitcoin and other investments outside crypto.

Going all in is suicide considering that crypto is volatile and doesnt have assurance.For someone who had taken that life gamble kind of decision then they should really be prepared on what are the other impacts or

circumstances that they would really able to experience once the market had made out some opposite movement on what they had predicted? Also you should have some left fiat for normal basis.

Just make it sure that you wont really be regretting in the end of the line on making such decision.

Kasabus

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Quote from: hatshepsut93 on May 17, 2022, 05:59:14 PM

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.

Crypto investors have known already that bitcoin is the best asset in the market, but its not reasonable to risk all your money investing in a volatile investment. Regardless of how expensive it is, its still prone to losses so an investor should still be cautious whatever the result of his investment. I suggest leave some fiat in your account, that will be a lot safer even if the rest of your money will go to bitcoin and other investments outside crypto.

bitterguy28

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You did a great decision here mate , there are so many of us who loves risking in Shitcoin and then will blame the whole market when they fail in their plans .

______________________________________________________________________

Nowadays there are several occasion that we invest in this and that but in the end ? it is still bitcoin that will bring us assurance and profit so why hesitate in something that assures you?

so Congrats mate , you did a good job in that investing.

jossiel

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If you afford to do that OP why not? You're going to be a bitcoin maximalist but do you have any other investment or source of income?

If that's what all means to you then you're a total risk taker, I've been there and holds bitcoin only until I'm satisfied and has to diversify in some of the moments of my life not just into altcoins.

But also in other ventures and investments.

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Quote from: Ebede on May 22, 2022, 05:49:05 PM

Quote from: Ojima-ojo on May 17, 2022, 05:39:13 PM

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.

If you really want to make it cryptocurrency you don't have to buy altcoins that have no values, because altcoins crash because some of them potentials is not guaranteed or assured like Bitcoin and ethereum. If you investment for bitcoin you are hundred percent sure that you will not lost your coin when their is surplus falls of bitcoin and ethereum but some other coins like shiba and luna will die off without resurrection

Agreed, with bitcoin it is an assured way of investment. Maybe if unexpected crash happens we need to have patience to experience the best out of the market. With altcoins this isn't promising. Being a newbie making every investment on bitcoin lower the risk whereas if it is about altcoins, then there is risk and chances of very big profit if lucky.

Ebede

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Quote from: Ojima-ojo on May 17, 2022, 05:39:13 PM

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.

If you really want to make it cryptocurrency you don't have to buy altcoins that have no values, because altcoins crash because some of them potentials is not guaranteed or assured like Bitcoin and ethereum. If you investment for bitcoin you are hundred percent sure that you will not lost your coin when their is surplus falls of bitcoin and ethereum but some other coins like shiba and luna will die off without resurrection

RealMalatesta

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Quote from: tygeade on May 21, 2022, 10:15:35 AM

putting money that you shouldn't is a big trouble in the cryptospace and that shouldn't happen at all times. We should be investing in the current situation and we should be saying stuff that are a bit more encouraging as well. Just invest the money you are able to lose and you will be doing a lot better, there is nothing wrong with that at all.

I believe that we should be investing something that is a bit more profitable and bitcoin is not as profitable as other stuff but at the same time it is going to be something less risky and that is how we are going to make money, with something profitable but less risky, so bitcoin is a great choice.

I have done that plenty of times before, so I agree with this. Back in the day every 1st of each month, I got my salary and kept it in bitcoin and I never cashed it out, when I first started this was a great idea because bitcoin price almost always went up so that means that I made some money, I got like 10-20% more than what I earned from my salary and that was a good thing.

Eventually it hit 2018 and I started to lose a ton of money and it went terrible. I made a ton of debt during that period and it was a bad situation and it resulted with something that made me understand that if you are going to cash it out in under 3 months, then do not invest it.

Dr.Osh

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well, to choose bitcoin investment from all altcoins is probably the right choice. however, putting all your assets in bitcoin is not a good idea. You need to think about your daily living expenses as well as other necessities. putting it all in one investment is not good. moreover bitcoin has a very high level of volatility. Bitcoin price could fall in 1 night. it could be a risk you are facing right now. I suggest using only the money you are prepared to invest in, and for the few places you invest. It is better. however, bitcoin is the right choice, it's just that the strategy you have is not right. well, it's just a suggestion, it all depends on your decision.

Yamifoud

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Quote from: Ojima-ojo on May 17, 2022, 05:39:13 PM

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.

Many had lost their money in buying altcoins rather than buying Bitcoin. So I guess, even if we focus on Bitcoin alone and put a huge amount solely into this coin, I'd never think it was a wrong idea instead, it was a smart decision.

Well, I don't argue with people talking it was best to split the money, buy different coins, had multiple investments, in fact, it was there decision. But what matters a lot is how these people manage their investment coz this is a big factor that affects the results and profitability of our investments.

DoublerHunter

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Quote from: Ojima-ojo on May 17, 2022, 05:39:13 PM

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.

^ I like people with the same instinct like this which is OP believes and admires BTC investment.
BTC has been dropped drastically but if you will compare the whole year we are still in the bullish situation that compare before we are still at the highest price compared to 2018. BTC was still on top because there are many people who believe and hold this as an asset and the time will come for to BTC will reach again into another ATH and that will for sure happen. However, putting all your money into BTC investment is not the right way because it should always the amount the you can afford to lose.

Hamphser

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Quote from: Oasisman on May 21, 2022, 11:25:32 AM

Quote from: Semar Mesem on May 21, 2022, 12:27:50 AM

I'm sure when anyone invests for the first time and then gets a big profit, he will be inspired to continue investing and even put all the money there, this is natural and I've experienced when I was a newbie and made me lose a lot of money, after more than a year I realized and understood that risk is a side we have to think about.

That kinda explain why a lot of people has lost their money in alts that they think it supposed to give them huge return. Say for example Luna, after the huge dump people are still willing to put their money into it even with 6.5 Trillion supply and it requires 5x Bitcoin's cap for Luna to reach $1 lol. That's because they have profited from it before.
If you're newbie and looking to make good return, my advice is to be patient and invest to Bitcoin for long term.

Due to lack of knowledge and some mix of common sense or being too unrealistic thats why people do really end up on getting fucked up with their investment because they do really let themselves do make out

action without any basis thats why on the time that the market had opposed on what they had predicted then they would really be starting on whining or regretting on the decisions that they had made out.
PUtting all of your money even with Bitcoin investment doesnt guarantee success although we do see the potential of bitcoin for long term aspects but there's no really assurance.
So invest on the amount which you can afford to lose as always.

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Quote from: fzkto on May 21, 2022, 12:37:11 PM

Stories like this, when people go all in, usually end badly. It is probably the biggest mistake in investing - keeping your eggs in one basket. You should definitely have risk diversification and free funds to buy bitcoin if the price goes down. It will be very painful to watch the price go down for a long time if things go wrong. And when you have free funds, you can just buy more coins. Then when the trend reverses, you will make more profit.

Maybe the OP has a high belief in bitcoin and I think choosing bitcoin to fully invest is not a bad plan as long as the person has a lot of patience.
because bitcoin is the mover of all coins but it's good if you have big capital follow the adage don't put eggs in one basket to make more profit but must choose the right coin and always follow the movement of bitcoin.

fzkto

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Stories like this, when people go all in, usually end badly. It is probably the biggest mistake in investing - keeping your eggs in one basket. You should definitely have risk diversification and free funds to buy bitcoin if the price goes down. It will be very painful to watch the price go down for a long time if things go wrong. And when you have free funds, you can just buy more coins. Then when the trend reverses, you will make more profit.

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Quote from: Semar Mesem on May 21, 2022, 12:27:50 AM

I'm sure when anyone invests for the first time and then gets a big profit, he will be inspired to continue investing and even put all the money there, this is natural and I've experienced when I was a newbie and made me lose a lot of money, after more than a year I realized and understood that risk is a side we have to think about.

That kinda explain why a lot of people has lost their money in alts that they think it supposed to give them huge return. Say for example Luna, after the huge dump people are still willing to put their money into it even with 6.5 Trillion supply and it requires 5x Bitcoin's cap for Luna to reach $1 lol. That's because they have profited from it before.
If you're newbie and looking to make good return, my advice is to be patient and invest to Bitcoin for long term.

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Everyone has their own views and of course very different from ours. if the OP is sure of his own decision and sure of his decision, I think that's very reasonable. because what we think can't necessarily be right and he can't be wrong yet because bitcoin is centralized and recovery is very fast. who knows after the OP buys bitcoin it goes up and can get a very large profit.

Topic: Reason why I put all my money in Bitcoin as a newbie - page 7. (Read 1853 times)