Reason why I put all my money in Bitcoin as a newbie - page 8.

tygeade

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Quote from: ethereumhunter on May 19, 2022, 09:47:10 AM

You did what you thought best, congratulations. But I hope all those investment funds are not money that you use for your daily life because some people say that but in reality, it is not so. They panicked when the price dropped drastically and said it was money for my daily life.

May you always remember the saying only invest with the money you can afford. Otherwise, you will run into trouble. Keep it up @OP.

I agree, 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.

Jawhead999

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Bitcoin is the safest coin among all cryptocurrencies, but put all of your money in Bitcoin is really wrong. Can you imagine if the cryptocurrencies crash and your portfolio decrease -50%? Obviously you will stressed out and don't know what you should do, either cut your losses or continue to hold.

Quote from: SirLancelot on May 21, 2022, 06:29:05 AM

or/and put some to other cryptos in order to mitigate the risk.

Another wrong suggestion, when Bitcoin in bear season, almost altcoins will follow it. This mean it's useless to diversify to other coins, it will be good if he diversify to stock, gold, land, real estate, etc.

SirLancelot

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Quote from: Ojima-ojo on May 17, 2022, 04:39:13 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.

Even if you don't explain further, we can just assume that you are just a newbie and that is the reason why you did such risky act. Yes to me it's risky because it was often said that we shouldn't put all our eggs in one basket, that means we need to keep some for ourselves or/and put some to other cryptos in order to mitigate the risk.

You are wrong when you say that bitcoin never crashed. It crashed actually many times but maybe you just have a different definition of crashed. The good thing about bitcoin is it undergoes into halving which its supply gets halved, making it more scarce so its value is expected more to pump or at least recover if it crashed.

Semar Mesem

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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.

yhiaali3

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That's right, after what happened with the Luna coin, it became clear to everyone that Bitcoin is the safest coin to invest in the long run. Almost all coins, even the strong ones, were either attacked on the network or their price collapsed, but Bitcoin has not yet experienced any attack or collapse In price, making it the most stable and safest coin to invest, Bitcoin has always proven to be a stable currency with a store of value and its price is constantly rising, making it the best option for investors.

Sir Legend

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When I'm a newbie to bitcoin and it looks like I got a big profit in a short time of course the thing I do is keep buying, even any bad news doesn't make me sell but focus on buying, and after it looks like I get a big profit then I sell everything, even though it's profit but I regret it because of missing opportunities for big profits as the market continues to rise.

MiF

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Quote from: Ojima-ojo on May 17, 2022, 04:39:13 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.

That is a good idea since bitcoin is still the most trusted coin in crypto it was rank #1 and everybody knows that bitcoin will never fall into zero value. But you also said that you will put all your money in bitcoin it means you will invest all of your money? Well i will say that this was a very risky idea you need to invest an amount that you can afford to lose because crypto is high on volatility and it is fully decentralized no one can control or predict the price and even if you invest on rank #1 coin there is still a possibility that you will still loss always do a research before making decisions.

Oceat

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Quote from: Tellek Garing on May 20, 2022, 12:51:54 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.

Putting 100% is not right because you are left with nothing when you needed it but if OP have a regular job that can support his daily needs and the investment is different from his daily needs then it's okay. Although, the market is very volatile but if you know what you are doing then it's still fine. We can't tell it to someone to copy this method but if they really know what they were doing then it's fine. Having a knowledge first about of what you are investing is the very first step in everything because you know better that way what risk you are facing.

Tellek Garing

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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.

Beparanf

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Quote from: noormcs5 on May 19, 2022, 11:00:50 PM

Quote from: Ojima-ojo on May 17, 2022, 04:39:13 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 appreciate your descsion of putting all of your money in bitcoin as it is the safest investment. Bitcoin do crash, we have seen a lot of major crash in bitcoin history but bitcoin always recover.
Being a newbie, you do not have idea of which altcoins are good for investment, so i like your mindset of investing only in bitcoin. Though the return on investment may be low here, but your money will be safe in bitcoins and you will never face issues of rugpull like we recently saw inTerra Luna.

Safe in terms of less risk but I don't' think safe is appropriate word for investment since there's no safe in cryptocurrency investment in terms of losses because you can still suffer huge loss in Bitcoin as you already said if the bearish trend continue and it stays there for more than a years. Bitcoin is the best investment on cryptocurrency for newbie since it's the most famous and foundation of crypto. Even no brainer can invest on it without doing TA since people will buy first Bitcoin before anything else since it has a lot of demand from all traders and all eyes is on it.

noormcs5

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Quote from: Ojima-ojo on May 17, 2022, 04:39:13 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 appreciate your descsion of putting all of your money in bitcoin as it is the safest investment. Bitcoin do crash, we have seen a lot of major crash in bitcoin history but bitcoin always recover.
Being a newbie, you do not have idea of which altcoins are good for investment, so i like your mindset of investing only in bitcoin. Though the return on investment may be low here, but your money will be safe in bitcoins and you will never face issues of rugpull like we recently saw inTerra Luna.

Welsh

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Quote from: hatshepsut93 on May 17, 2022, 04:59:14 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.

I'd argue that having your money in fiat/cash isn't exactly great either. Look at the how much the inflation rates have increased recently. Plus, we're heading into one of the biggest recessions we've ever had, at least for a lot of people in their life time. Now, I probably expect Bitcoin to be effected just as much as fiat, but I'm not certain on that. What we do know is fiat will definitely be effected, and in a big way. Only have to look at previous recessions to find that out.

People won't be spending as much as they did a year ago, and that creates problems for an economy. People lose jobs, because their companies have ceased making a profit due to the reduction in spending from customers. It's a vicious cycle, which is likely to effect every currency out there. Bitcoin, in my eyes probably has the best chances of avoided issues.

However, I get what you're saying. Regardless of the way you look at it, fiat is probably going to be a lot more stable than Bitcoin, and investing all or a significant share of what you're worth, probably isn't the best idea, I'd agree. I do respect those that do though, kind of tells you they're very much sick of being a slave to society.

TimeTeller

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Quote from: Viscore on May 19, 2022, 05:58:58 PM

Quote from: Ojima-ojo on May 17, 2022, 04:39:13 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.

That's your choice as you have the money to invest and get lose or gain in the end. But you should also know that investing all your funds into a single investment means a lot of risks and there's no way you can have them back once you lose them all. If i have to invest, i will still invest in bitcoin because i know its high potentials, but never will i decide to put all my money in a single basket as i may lose them all in the future.

As I understand the OP, if you are a beginner, better invest in BTC first.
And then, once you get acquainted in this market, that's when you can take the risk of other projects.
So maybe at the beginning, he's all in with BTC but later on, he will explore his chances with other alts.
Certainly, it is always advisable to diversify your portfolio, as the saying goes, never put all your eggs in one basket.

Viscore

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Quote from: Ojima-ojo on May 17, 2022, 04:39:13 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.

That's your choice as you have the money to invest and get lose or gain in the end. But you should also know that investing all your funds into a single investment means a lot of risks and there's no way you can have them back once you lose them all. If i have to invest, i will still invest in bitcoin because i know its high potentials, but never will i decide to put all my money in a single basket as i may lose them all in the future.

Finestream

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Quote from: cryptoaddictchie on May 17, 2022, 10:09:10 PM

Quote from: Ojima-ojo on May 17, 2022, 04:39:13 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.

Good choice but let me remind you that even bitcoin is decentralized dont hope for a no down scenario. Even its the number 1 coin it is still subject to risk and volatility. No project can even be safe, and even stablecoin arent see what happened to Ust and some stablecoin that shows depletion like dei. So its better to be cautious.

As long as you start doing investments, being cautious and invest into the right coins is the very first thing to do. However, even if we have invested in the best asset, the fact they are still prone to losses, investing all our hard earned money is not right at all. Yes, bitcoin is a very good investment, but we should always see to it that we are investing our extra funds, and not those intended to pay our bills or for emergency funds.

Tellek Garing

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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.

Vaculin

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Quote from: hatshepsut93 on May 17, 2022, 04:59:14 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.

Bitcoin, no matter how profitable it is, will not always be a safe haven and won't always guarantee profits all the time. So putting all your money in a single investment like bitcoin, brings a lot of risk and that one could lose everything. The reason why you should learn to diversify your investments, not only in crypto but also in stocks, bonds or in real assets. However, i don't mean to discourage newbies from investing in bitcoin, but only invest on the amount you can afford to lose.

ethereumhunter

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You did what you thought best, congratulations. But I hope all those investment funds are not money that you use for your daily life because some people say that but in reality, it is not so. They panicked when the price dropped drastically and said it was money for my daily life.

May you always remember the saying only invest with the money you can afford. Otherwise, you will run into trouble. Keep it up @OP.

Ojima-ojo

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Quote from: hugeblack on May 19, 2022, 07:33:07 AM

Since you are new it is best to learn more about investing, how to get in and out, when the price is fair and when you should stay away from investing.
Now is the time to build long-term entry positions, but there is a lot of talk about the possibility of a correction in the market, so perhaps waiting a little bit may bring you long-term gains.

But if we are talking about long-term investments and you do not need that money, it is a golden opportunity.

Investing 100% of your money is not a smart idea, perhaps it is better to reduce this amount to money that you do not want to use at the moment.

Am talking about long term investment and not a short term investment and yes am well aware of the volatility of the Bitcoin market but then Bitcoin long term goal have higher profits merging, and putting up some left over funs in Bitcoin for long term is not a bad idea.
Instead of investing in some alt coin that can go from 100 to zero over night.

hugeblack

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Since you are new it is best to learn more about investing, how to get in and out, when the price is fair and when you should stay away from investing.
Now is the time to build long-term entry positions, but there is a lot of talk about the possibility of a correction in the market, so perhaps waiting a little bit may bring you long-term gains.

But if we are talking about long-term investments and you do not need that money, it is a golden opportunity.

Investing 100% of your money is not a smart idea, perhaps it is better to reduce this amount to money that you do not want to use at the moment.

Topic: Reason why I put all my money in Bitcoin as a newbie - page 8. (Read 1942 times)