Topic: Reasons why I prefer Bitcoin over any other assets and dips don't panic me.... - page 8. (Read 1621 times)

That's absolutely fine because you are holding them from a long time which might have yeilded a very good profits to you so even you sold them now you are in profits.But the fact is you still holds 75% of your stash in bitcoin and wants to hold it for long time ignoring the price volatility during the stay of your hold but my point of convention is with those who are new to the market and sold in Panic as if it will not go upwards and convert it to fiat or some other altcoins so are they going to give some returns to them at all? No but still they do such silly mistakes and regret later on which is worse.Your case is entirely different from the regular panic sellers as they sell at loss also going for inflationary measures which can't help them in long run.

The short term profit for these altcoins is just illusion for the market to trap some innocent newbies into pump and dump scheme and later on many turn scam or other just lying dead in your wallets.If you can get profits out of them well and good but not sell them and hold btc patiently.For me it's best hedge against inflation but for others i can't say as priorities differ a lot.

For those who claiming it to be expensive has in mind that stacking sats is not at all possible.They see 400-500% growth in altcoins and invest in them without any other research and when it dump they loose their funds.Bitcoin is expensive at this time but who tells to have full bitcoin as i am DCA investor and goes for $50-$100 weekly investment and all is good for me.The market cap is big and price is high so the returns will not be too high but if you hold them for some long time you will feel satisfied and have enough profits with you.

Inflation winds can tear your life apart so get as much btc you can to watch it from the above without any worries

It’s just that I don’t believe in any of the assets as much as I do in bitcoin. I have seen bitcoin depreciate a few months ago but it bounced back again. Over and over again, it has shown that nothing can stop it from achieving new heights and those who believe in it will never see a downside.

Depends on someone on how they do see on altcoin investment.Some do likes to play safe and some do really loves to play with fire thats why we do really take some risk
and people do trust up that much with Bitcoin investment thats why they do accumulate it aside from altcoins.

For those who are just new into this investment then they would easily freak and panic out but for those who do able to experience  will really not bother much
since they do know its potential.

Preference and risk taking is all we need.

That's not the case, I wouldn't blame someone for investing in Litecoin or Ethereum, both are reputable and legit coins. It's not about being expensive, you could still buy a fraction of BTC, 0.10 for instance, is a decent amount nowadays.

On the other hand, dips don't scare me, nor cause any kind of panic. I'm holding for quite a long time now, while I'm also staking in the meantime, I'm looking for long-term opportunities.

Indeed, and in-fact I've been thinking about the exact same thing few years back and I've realized that I've been limiting myself to gain serious profits because I'm just into altcoins due to the fact that they're more quite cheaper to buy than bitcoin.
So, I've come to decide to maximize my fortfolio by making bitcoin as the main option and source to gain profits, so from that day forth and up until now, I'm still investing into altcoins and other projects but 60%-70% of my gained profits from those said coins or projects will go directly to my bitcoin wallet and the rest is for me to spend on daily basis or buy needs and wants.

Bitcoin is best coin which dip or pump very fast and after every dip its will pump and break all old records. That's why I prefer bitcoin which not make me panic.

Many people think that since bitcoin is so expensive, they are better off buying and investing in altcoins. It may seem to be a profitable decision in the short term but in long term, they should have an investment in the bitcoin.

For me, 99% of the altcoins are developed by the greedy investors to earn the money.

By the way, I'm in a state of panic when it drops - panic buying the dips. Having some stablecoins to spare coming from my recent job was really that helpful and it feels like everytime it dips I feel like into the DCA mode. I hope those people who already here in this industry for years now will realize it as well because afaik most of them aren't that aware and still diversifying lot onto altcoins because of FOMO.

You are right and i also mark that at this time they are not recoverable but at future perspective they might still add up to the total supply of 21 million as you said with quantum computing it's possible and all those coins i was referring to are actually not lost so i got your point on that.Like if they are having an access the account the supply is increased then.In the past people were little ignorant about bitcoin as the prices were not high but at this time they are extra secure to store their bitcoin on cold storage rather then leaving them on centralized exchanges which might got scam or hacked anytime.

The other ways you have mentioned like making bitcoin unspendable with OP_RETURN command which is similar to burning coins make them out of supply permanently and yes the number for them is way too low then but at last we will see how many total bitcoins the world will have.

The dormant address holding huge amounts of bitcoin are becoming active with the price surge over these years and yes they are contributing the total supply in the end so i got what you are referring to excatly.

The simplest reason for me is because Bitcoin is still the most trusted and valuable cryptocurrency. I am still holding and still jeeping them to incrwase. I still have belief that Bitcoin price will keep increasing, moreover December may be the time althiguh ut is litle bit difficult.
We also have seen the hystory of Bitcoin and the cycle of BTC itself. No matter if this price drops because there is still another chance to keep rising up.

Yeah, it's still one of the safest that one can invest. The growth may be slow but it's safer and has a lower risk compared to bitcoin. But that's the twist.
If you long to invest in bitcoin, you have to embrace its volatility. As always, more risk, more reward and these fluctuations that we get to see are very normal whether there's a sudden dump or pump.

That's my point though - these coins are not out of the supply. The only coins which are out of the supply are coins in which it can be proven that they can not be spent or reclaimed, such as coins sent to OP_RETURN outputs or other unspendable outputs, coins lost due to bugs in the protocol, coins lost due to miners failing to claim the full reward they were allowed to, etc. In total, these coins only number several thousand.

In terms of the examples you gave of a user saying they cannot decrypt their wallet or they threw away their hard drive - these coins are not provably lost. They could easily be accessed in the future, the owner might discover a back up they forgot about, they might simply be lying about losing them for any number of reasons. Lots of "lost" coins are lost on exchanges or other centralized services which can obviously still access them. Satoshi could come back tomorrow and move all their coins. Any coin in a reused address or an old P2PK address could be reclaimed using quantum computing in the future. None of these coins are provably lost/unspendable, and so it should not be assumed they are out of the supply.

You are correct on the part that more and more people have tend to store bitcoin more and the prices have gone too high this season because the investments was very high and the economic principles state that whenever there is high demand and supply is not high the prices rise.I agree with you on the part that large proportion of bitcoin holders prefer to take it as investment rather than making use of the same as payment processing due to which the prices rise.This pandemic many new investors came into the bitcoin market and we see less people spending their coins because everyone sees huge profits in the long run or say as better investment tool to store bitcoin like what major companies are doing so.

Not actually I'm not including the dormant bitcoin addresses as i have seen some bitcoin whales rising up from the graves like after 9-10 years later the dormant bitcoin address transfer some Bitcoins to other wallets.But what i mainly refer is to people that have lost keys to the bitcoin wallets which takes them out of supply although there are chances they get it back but till now they are not having any ways to get it back so we assume it to be out of supply.

For instance the German programmer stefan thomas has lost password to wallet which contains approximately 7002 bitcoins and have only 2 chances left when i checked it last time.

There are some others also like this one:

For those who believes in bitcoin and trust it or say want to invest in bitcoin in turn to have safeguards for deflationary future there are no dips but only opportunities but in reality the majority goes down with the FUD and as a result we see panic selling or say paper hands making diamond hands.The whales took advantage of this situation and accumulate more and more like this one :


Dips are the best time to invest but for those who understands it.

Dips in the bitcoin market mean opportunities for investors. that's how good bitcoin is because no matter how it looks bad, it always recovers if we based on its past history. right now, bitcoin is at the price where it has never been before which is finally passed the $20,000 mark. it took to finish the bitcoin halving to get to this high and surely when another halving comes, the price will increase. The safest crypto-asset right now is putting it all on bitcoins when the price is still low.

Tnere's no question that it is since knowing how gold is been given prioritized by the government so for having this we will not worry about it on future since for sure the one we will get for storing gold is pure wealth and good return. But its undeniable that bitcoin also is doing a good job in terms of profitability but the only flaw of it is heavy volatility that's why many got burned due to lack of research but I still prefer this since this gives good opportunity for profitability aspects.

Gold may not grow as fast as Bitcoin but I still believe it is one of the safest assets to hold for the future. I have bought Bitcoin, I invested my money both in Bitcoin and Gold. I don't want to rely on Bitcoin only for my future assets, diversification is the right way to secure investment. Bitcoin may grow well recently, but we don't know how it is in the next few years. I'm trying to think realistically.

When you do accumulate whether by means or through altcoin or bitcoin itself then it wouldn't matter as long you do end up on accumulating in the end plus with those profits.Cant really blame that people would really be confident with Bitcoin rather than with altcoins which is understandable.

Doesn't really matter on what way they do find ways as long it would benefit you out then that what counts.

There's a debate towards gold and bitcoin's comparison. But if you go and see how much gold has gained over the years, you'll just be disappointed.
And if you're someone who's a gold investor and knew bitcoin long time ago, you shall say to yourself that you should've bought bitcoin when you knew it at lower price.

If someone is really paranoid with their bitcoin investments, what they can do is sell their btc when it reaches higher than their buying price and just use the profits for next btc investments. In that way, he already secured his initial investments. And he can play with the market using his profits. If he loses, that's not gonna hurt much as it is only profits, but if he gains more, that's very nice in your pocket.
Aside from that, some people are in panic mode if they used loaned money, so they are in tight position and their only goal is to earn positive in order to pay the debt. This is not advisable from my end. If you are going into crypto, better use your extra funds that will not affect your basic necessities in life.

Bitcoin may be a better investment compared with Gold. But I don't think we must state Gold isn't a good investment. In fact, Gold is still one of the most favorite choices for a long-term investment. We can say it is a classic way of investing our funds. However Gold is one of the safest investments so far, the value doesn't decrease significantly as other assets. Sometimes, gold value is also increasing quite well as Bitcoin.