Reason why I put all my money in Bitcoin as a newbie - page 9.

LFC_Bitcoin

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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.

Welcome to the winning team, brother. If you’re willing to continue buying & HODL for a significant amount of time you will be very happy you made this decision.

Fundamentals Of

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Quote from: Sir Legend on May 19, 2022, 05:23:46 AM

Newbies usually hear the wrong information that investing in bitcoin is a high risk, I know bitcoin since 2013 when the price skyrocketed from under $100 to more than $ 1000 at the end of the year, at that time I thought about investing in bitcoin but because I heard the risk was high then I only hunting bitcoins from faucets, giveaways and so on.

It is actually true that Bitcoin investment is highly risky. There's no arguing about it. The level of volatility in Bitcoin is high. That itself means it is risky. You could lose 50% of your investment's value in just a matter of days. That's risk. But the good thing about Bitcoin is that if you change your approach, the risk could be greatly reduced. This is the reason why people are now recommending that investors should be setting a long term for their Bitcoin investment. It is much safer this way.

Sir Legend

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Newbies usually hear the wrong information that investing in bitcoin is a high risk, I know bitcoin since 2013 when the price skyrocketed from under $100 to more than $ 1000 at the end of the year, at that time I thought about investing in bitcoin but because I heard the risk was high then I only hunting bitcoins from faucets, giveaways and so on.

Fundamentals Of

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I love it when I read this kind of realization. So many newbies are committing the error of risking on all kinds of altcoins. Many newbies are swallowing hook, line, and sinker when offered with all kinds of hype projects and coins. Newbies are more often the target of ICO, defi, NFT, etc because they are the ones who are still naive and are easily convinced with hollow promises. So while they are still learning the ropes, they should just rely on no other than Bitcoin.

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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.

Bitcoin also crashing mate , because we have seen price from 20k dropping to 3k, that is a crash already lol so that means there is a crashing happening along the way.

and Look what happen after the LUNA Issue ? bitcoin crashed again.

But I must admit that you are truly a Bitcoin supporter and you made a perfect decision in putting your money in this most trusted currency but make sure that those amount are the amount that you can afford to lose .

GreatArkansas

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I think what OP wants to say is his/her portfolio in investment is more exposure on Bitcoin or in short, he/she only owns Bitcoin, no other assets like altcoins or stocks, etc.
Which for me also a good choice, but the problem only here if OP can't afford to lose it because we all know how Bitcoin volatile, especially before lost more than 80% of it's value before.

Wawa2013

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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.

First of all, make sure our funds for investment do not come from money that we will use to pay for our daily needs. Or make sure to avoid using
borrowed money as investment funds, that's to avoid us from problems in the future. Then regarding your decision to use all your investment funds
to buy Bitcoin it is not the right thing to do, although Bitcoin is indeed the best asset for investment. At least we have to diversify our investments,
it means do not bet our investment funds in one asset only. I suggest besides investing in Bitcoin, we should also invest in the stock market or gold.
Even if our funds are large enough don't miss investing in real-estate, dividing our funds across multiple assets I think is a smart move. As for investing
in altcoins for now, ETH and BNB are quite safe in my opinion, because I am quite optimistic that ETH and BNB will not end up like LUNA.

lienfaye

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Its good that you invest in Bitcoin instead of altcoins.

But its not wise to put all your investment funds to Bitcoin alone. When it comes to crypto, its already given that Bitcoin is the most reliable investment, however it has still risk and we dont know what lies ahead since everything is unpredictable.

Diversifying is still advisable but it doesnt necessarily mean it has to be on crypto because there are also Gold, real estate etc. Anyway, you already made a decision and as a Bitcoin holder too we only want a positive outcome.

STT

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Really depends on your age, when you young and poor its reasonable to take higher risks. This is standard investment protocol, doesnt mean you have to take just 1 sector but if you are still able to earn and increase your earnings via your career then its not completely unknown to take excessive risks. The other risk is you lose your health and cannot earn later so thats another type of risk to cover also.

Wexnident

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Probably don't do that? If it was solely for crypto investments portfolio then I guess it's okay but if it's overall investments then you should really widen your portfolio and start investing in say, stocks or others. It isn't really a great idea to invest only on one asset/investment, even if we do consider how good of a project said the investment is. As for altcoin investment, you can try investing on them but never let it stay for too long. Most altcoins are carried by hype so once a certain period passes, it just goes and buries itself down to the ground.

lornadane

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Quote from: Renampun on May 18, 2022, 04:01:28 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.

Bitcoin is one of the most trusted and safest crypto coins for everyone (not only newbie)...

until now Bitcoin is the only crypto asset that is decentralized and safe from rug pull and also scams. the identity of the satoshi (the creator of bitcoin) has never been revealed which makes Bitcoin very strong and reliable. centralized assets such as LUNA at any time can be rug pulled or delisted from the exchange, never buy LUNA.

Yes many of our friends have become victims because they have bought a lot of Luna.
Even though it is true that bitcoin is the right coin for us to invest in the short or long term, at this time I am still hesitant to buy it because the market is still signaling that there will be another decline.

TravelMug

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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.

Yes, I would tend to agree on this, at least in my case this is what I did early invest money that I can't afford to lose so I didn't profit that much. So I will just talk about experience and and say that it's not a good idea to put everything in one basket, just saying.

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

And as for alts, no one should be touching them, newbie or not. Fundamentally they have no value.

Maybe except Ethereum, but then again, it has it's own problem but at least the chance of the price going literally to 0 might be slim as compare to other altcoins.

Jating

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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.

Well good decision on your end, hopefully though, the money you put into bitcoin will not be withdraw in short amount of time because maybe instead of gaining some, you will lose short term. As for the Terra, well it's shitcoin anyways so we really don't trust those kind of projects long term and it really damage crypto space in this worsening situation after the covid-19 ripple effect globally.

goaldigger

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Bitcoin is a good coin but you should still not put all your money to Bitcoin, that’s too risky and that is not the rule of investments here, diversification is still possible. Honestly, the incident with LUNA wakes up many hodlers because that is a sign that there’s no stable coin here at all and everything can dump in just a week and it can also happen to BTC, not a FUD but a more possible scenario. Bitcoin dumped so many times before, its just that investors are keep on coming back so be careful and don’t trust that much, better to take profit all the time.

Renampun

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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.

Bitcoin is one of the most trusted and safest crypto coins for everyone (not only newbie)...

until now Bitcoin is the only crypto asset that is decentralized and safe from rug pull and also scams. the identity of the satoshi (the creator of bitcoin) has never been revealed which makes Bitcoin very strong and reliable. centralized assets such as LUNA at any time can be rug pulled or delisted from the exchange, never buy LUNA.

acroman08

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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.

yeah, true, that is the stupidest thing someone can do but when OP said "all my money" he probably meant his investment fund(which he mentioned in the original post), but yeah, it would be a lot smarter to also invest in other things and not just focus on one and don't ever think about touching shitcoins.

OP should probably need to clarify when he says "all my money" in the title.

lovesmayfamilis

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

Am still new in this space

You yourself write that you are a beginner. Why do you advise everyone to invest in bitcoin so much? Did you make a profit? Have you heard the stories of people who also lost a lot during the bear market?

When advising all beginners to buy bitcoins, you should have good experience, having gone through both profits and losses. Otherwise, your beginners, believing you, and in the future, unable to withstand the proper time for growth, will begin to blame you for their losses. Feel free to tell the whole truth to people.

cryptoaddictchie

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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.

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.

odolvlobo

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

... since Bitcoin has never crashed ...

Bitcoin's price has crashed several times.

2011: 93% drop
2013: 70% drop
2013: 71% drop
2014: 78% drop
2018: 83% drop
2021: 54% drop
2022: 60% drop

examplens

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Quote from: _act_ on May 17, 2022, 07:30:22 PM

Quote from: _act_ on May 17, 2022, 06:53:24 PM

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.

unlike Bitcoin, altcoin can make a 300% profit in a relatively short time. the same thing is the other way around in bear.

Quote from: sheenshane on May 17, 2022, 07:37:56 PM

Quote from: _act_ on May 17, 2022, 07:30:22 PM

Quote from: examplens on May 17, 2022, 07:16:29 PM

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. Cheesy

Or more than that, it will remain unpredictable. But the price you've mentioned seems not possible, it could be also next year.

Just imagine, UKR/RUS war be over in next 6 months, how much investment will be needed to repair the damage, in addition, to a slight stabilization of the energy market. Bitcoin and crypto can be an ideal solution to make everything easier and faster. I would not exclude such a scenario.

Topic: Reason why I put all my money in Bitcoin as a newbie - page 9. (Read 1852 times)