Topic: Reasons why I prefer Bitcoin over any other assets and dips don't panic me.... - page 9. (Read 1621 times)
December 07, 2021, 05:05:36 PM
a good principle that investing in bitcoin is a profitable investment if we can handle it well. we know that the price of bitcoin from the appearance until now continues to soar even though the price goes up and down but in general the price continues to rise. so it can be expected that the price of bitcoin will continue to rise again in the next year. that's why now a lot of people are starting to invest in bitcoin because they are aware of the benefits that can be gained. but it also depends on how we can manage our bitcoin assets, the better we manage it, the bigger the profit that we can get.
December 07, 2021, 04:48:13 PM
Before I came across Bitcoin, I wasn’t an investor. I was just leaving the normal life and had a job that I was doing without minding anything that has to do with investment or trading online. Although my dad used to be a forex trader, and part of his experience involved loss of money. I knew that,so those experience made me not to really have interest in investments and trading at all, because I knew the risk that are involved are much.
I do know that those risks are also in Bitcoin investment, but I have much confidence when I’m investing in Bitcoin then any other assets in the market anywhere. And over the years since I started investing in Bitcoin, I’ve been able to again a lot from it. I would say that it is one of the few things that I’ve tried which are really worth it.
I do know that those risks are also in Bitcoin investment, but I have much confidence when I’m investing in Bitcoin then any other assets in the market anywhere. And over the years since I started investing in Bitcoin, I’ve been able to again a lot from it. I would say that it is one of the few things that I’ve tried which are really worth it.
December 07, 2021, 04:34:46 PM
Regarding the benefits you get from holding bitcoin and why we usually prefer holding bitcoin instead of holding altcoins for me the most important thing is I know what I buy and what I hold because we know bitcoin and we know how it's working but whenever you are talking about any altcoin there is usually an unclear whitepaper full of lie and most of the assets are being controlled by the owners directly or indirectly which is dangerous and this can be the reason of price manipulation. Generally, I prefer bitcoin because I trust it and there is much more market cap compared to altcoins which make bitcoin safer than altcoins.
Investors have moved in into bitcoin because there are clear profits that are increasing every year due to bitcoin's price that is always appreciating in value. Aside from having a higher market cap, bitcoins have more guarantees too that they will always recover from all dips compared to altcoins that some are even losing their value and end up as dead coins. Even in my own personal view, bitcoin has higher advantage to other cryptos or stocks market so i don't have to panic in times correction or bearish season hits the market because bitcoin price is still higher than any other investments. 
December 07, 2021, 08:50:52 AM
You’re missing a big fact here and that is bitcoin is not the same thing as these other investments tents that you’re comparing it. Many stock market products are much less volatile then bitcoin as well. These are investments that are backed by businesses, which bitcoin is not. Completely different things that you’re trying to compare here.
December 07, 2021, 08:07:05 AM
there are many altcoins that gave high profits
High profits does not mean a good project. You could get high profits with complete trash if you buy and sell at the right time. Hell, you can get high profits with blatant scams if you are lucky enough to buy and sell at the right time.The total supply of bitcoin is continuously reducing due to people losing access to their private keys as they are ignorant enough or careless to loose it and according to some reports approximately 4 million coins have been lost which in turn is reducing the supply
It is incorrect to assume that 4 million coins have been irreversibly lost and that these coins should no longer contribute to the supply. We have absolutely no way of quantifying this number, and we not infrequently see coins move which have been dormant for 10+ years, proving that they are not lost at all as many people assume. There is also the chance that a significant number of these coins will be reclaimed in the future due to advance in quantum computing. The number of provably lost coins numbers several thousand, not several million. 
December 07, 2021, 06:43:26 AM
Wholly in agreement, especially the final bit about the more knowledge you have, the larger your portfolio share in Bitcoin -- although I have to say, my own personal journey has been slightly different as a freelancer -- I used to get paid chiefly in altcoins when I was the one seeking jobs out, and then it became majority Bitcoin as I charged clients. But for the last year, more and more clients prefer to pay in stablecoin, and on many different networks, but I definitely convert everything I can save after selling to Bitcoin.
And if I look objectively, I haven't gained as much new knowledge over the last couple of years than I have experience.
Guess what I'm trying to say is, experience counts towards that portfolio trend too
And if I look objectively, I haven't gained as much new knowledge over the last couple of years than I have experience.
Guess what I'm trying to say is, experience counts towards that portfolio trend too
December 07, 2021, 06:16:41 AM
Bitcoin is not a new term to most of the investors or general public in whole and it's all over the news due to increase in prices,major companies making move to accept it as mode of payment or investing huge sums of money into it like Tesla with approximately 42k bitcoins and Microstrategy with 110k bitcoins in the balance sheet.We all know how much importance and recognition it has gained with time in the period of 13 years
Year Price
2009 $0
2013 $200 (200x)
2017 $20k ( 100x)
2021 $68kATH(4.25x) Overall (68,000x)
Although we are at $49k at current
Have any other assest given you this much profits with holding them over all these years? The stock market was the only best option to people aside from gold but after the introduction of bitcoin people slowly and gradually became interested in Bitcoin and then whosoever came to know the decentralized, deflationary and secured system they put up the money into bitcoin.
Dollar devaluation
People fear when the bitcoin prices fell down but have they ever cared to notice how much the fiat they are holding for years like the legal cash which they earn as salary,spend them on various items, paying taxes has depreciated almost 70-80% of it's original value over this time and this is the case with most of the currencies over time.If your USD is strong compared to some other weak nations currencies it doesn't imply that inflation has not hit the same but the case is different for all nations and over time it will become value less or just piece of paper like in Vietnam there are one Million Bolivian dollar could not buy you toilet paper only so what's the holding of these currencies at last if not investing?
Gold devaluation
The fiat have gone too much down in the value and speaking of another safe heaven gold for people and have the top most priority of people's investment has not given any returns over past 10 years and moreover there is value depreciation of $4 for $1000 worth of gold investment so what's the fun of holding these gold bars in your bank locker which is shining metal only to show off to people only and not going to give you any returns for future guarantee?
Inflationary Financial Assets
You people invest in stock market and is the returns stable? NO there is volatility there also but some don't fear the same because it's regulated and you feel safe? Or you think the stock would pump again and funds will be restored with profits? So why not have the same approach for Bitcoin also which has given so much returns over all these years? I prefer because all other asset are not deflationary and you can't have $100 remaining $100 also after 5 years also so you need to invest it so why not make wise move and prefer bitcoin for the same reason you are investing in other financial assets?
Why not altcoins?
I would not go into much detail about the same as i have given it many times but to explain it in simple way here is illustration for you all :
So if you understand the market and want to safeguard yourself from all of these problems then BTC is the best option for you.Few understand it fast rest late but soon you understand the better it will be for you.
I am proud btc holder and these are the reasons why dips don't panic me and I am not afraid of because all other investment have already been screwed up already by the government policies and all that same stuff but btc is hope to me personally that shows some bright future ahead free from worries if I manage to HODL for all these years and I will surely do that.Do you guys have any other options?
Year Price
2009 $0
2013 $200 (200x)
2017 $20k ( 100x)
2021 $68kATH(4.25x) Overall (68,000x)
Although we are at $49k at current
Have any other assest given you this much profits with holding them over all these years? The stock market was the only best option to people aside from gold but after the introduction of bitcoin people slowly and gradually became interested in Bitcoin and then whosoever came to know the decentralized, deflationary and secured system they put up the money into bitcoin.
Dollar devaluation
People fear when the bitcoin prices fell down but have they ever cared to notice how much the fiat they are holding for years like the legal cash which they earn as salary,spend them on various items, paying taxes has depreciated almost 70-80% of it's original value over this time and this is the case with most of the currencies over time.If your USD is strong compared to some other weak nations currencies it doesn't imply that inflation has not hit the same but the case is different for all nations and over time it will become value less or just piece of paper like in Vietnam there are one Million Bolivian dollar could not buy you toilet paper only so what's the holding of these currencies at last if not investing?
Gold devaluation
The fiat have gone too much down in the value and speaking of another safe heaven gold for people and have the top most priority of people's investment has not given any returns over past 10 years and moreover there is value depreciation of $4 for $1000 worth of gold investment so what's the fun of holding these gold bars in your bank locker which is shining metal only to show off to people only and not going to give you any returns for future guarantee?
I often see posts on the Internet from novice crypto investors: is it worth investing in bitcoin, because it is so expensive? It may be better to invest in stocks of well-known companies or in gold, because these investments seem to be more reliable. For such people, this picture will be a good motivation to choose Bitcoin as an investment.
Inflationary Financial Assets
You people invest in stock market and is the returns stable? NO there is volatility there also but some don't fear the same because it's regulated and you feel safe? Or you think the stock would pump again and funds will be restored with profits? So why not have the same approach for Bitcoin also which has given so much returns over all these years? I prefer because all other asset are not deflationary and you can't have $100 remaining $100 also after 5 years also so you need to invest it so why not make wise move and prefer bitcoin for the same reason you are investing in other financial assets?
Why not altcoins?
I would not go into much detail about the same as i have given it many times but to explain it in simple way here is illustration for you all :
So if you understand the market and want to safeguard yourself from all of these problems then BTC is the best option for you.Few understand it fast rest late but soon you understand the better it will be for you.
I am proud btc holder and these are the reasons why dips don't panic me and I am not afraid of because all other investment have already been screwed up already by the government policies and all that same stuff but btc is hope to me personally that shows some bright future ahead free from worries if I manage to HODL for all these years and I will surely do that.Do you guys have any other options?
I agree with everything that you have stated.
Personally, I don't also worry so much about the dips because I know that bitcoin will always recover and bounce back after a while. I'm here for the long term, hence I am relaxed whatever happens in the market because it's well-known that bitcoin has already withstood the test of time and the dumps are just normal and it's part of the season. You see, it isn't always a good day. There are bullish and bearish market. Right now, the prices are not really in a good position because most people are withdrawing their funds for thanksgiving and holidays, so it's really understandable. More assets are being withdrawn than deposited, hence we are seeing a leaning down market trend. If you will also look at the history of crypto market, you'll see an almost similar scenario every end of the quarter. So, there's no really need to panic over such normal circumstances.
Also, if you are well aware of what you entered, you wouldn't be paranoid so much. It's really essential to learn the basics and fundamentals of everything we are getting ourselves into to avoid regrets and emotional stress later on. If you studied crypto, then you should know that whenever the dumps happen, it's always a great opportunity to buy coins that are reputable and with high potential. Take advantage of the dips because it doesn't really happen always. Still remember though to invest what you can only afford to lose and buy low, sell high. That way, you can never go wrong. Remember when to tp and to cut loss as well. Never ever rely on just hearsays and do your own technical analysis instead.
December 07, 2021, 04:58:54 AM
It's interesting to see that people who invested in gold ten years ago lost most money compared to all other assets, and that is even worse if we know that dollar lost it's value.
Bitcoin is probably the best thing you can have in times of hyperinflation and I am expecting to see even bigger price changes in future.
I am not worried about any drops in price and I think that I become fairly resistant to pain related with Bitcoin dips
Gold has now become obsolete method of investment as investing your money into such an asset which surely can't cope up with the rising inflation is stupidity.In the past people prefer to invest and gold and it was the most safe investment and that we all know but with the time trend changes and people need to move on like suggested in the above charts which says it has not given any returns in past 10 years is clear sign of how hyperinflation could tense up the situations and we need some deflationary assest to hold on for future which is Bitcoin.Those who still believe it is best investment would not survive the coming scenario of inflation as dollar is devaluing and holding gold is surely not an best option.Bitcoin is probably the best thing you can have in times of hyperinflation and I am expecting to see even bigger price changes in future.
I am not worried about any drops in price and I think that I become fairly resistant to pain related with Bitcoin dips
If you look at the events of the last couple of years, then the circulating supply of bitcoin is constantly decreasing and more and more bitcoins remain in illiquid wallets. Perhaps, in the early stages, bitcoin grew and was popularized due to the fact that people used it as a currency, and not as a speculative instrument, I will not argue.
At the moment, the top use of bitcoin is as follows:
- asset holding
- speculations
- payment for goods and services.
The total supply of bitcoin is continuously reducing due to people losing access to their private keys as they are ignorant enough or careless to loose it and according to some reports approximately 4 million coins have been lost which in turn is reducing the supply and we all know it would not be ever 21 million coins and this will boost the prices even further high as less supply more demand is equal to price boost eventually.At the moment, the top use of bitcoin is as follows:
- asset holding
- speculations
- payment for goods and services.
At current there is less liquidity due to some reasons :
1) More people are treating it as an assest to hold which can give high returns in the future as they have witnessed from the past like 300-400% increase in short span and everybody wants to hold it rather than spending it anyway.
2) There are still less nations where it is accepted as mode of payment so that users can spend their coins or we can say adoption is more but the mode of payment is still far away to be scattered at global level.Suppose you want to buy groceries with btc how easy it will be to go grocery store to make btc payments?
3) The vendors who accepts it usually go through third party payment processor like bitpay and convert it to fiat
But when it will be accepted as mode of payment we all will see more liquidity in the market and spending fractions of them at high prices would not matter a lot.
I don't necessarily think you are wrong, but we simply don't have the data or statistics to say one way or another if bitcoin is predominantly being used for speculation, spending, or whatever. I'm certainly not disagreeing that large numbers of people have never used bitcoin as a currency and only use it as an asset, speculation, store of value, trading, whatever, but I am disagreeing when you say you that you would not recommend using it as a currency. If nobody used bitcoin as a currency, then it would have no inherent value and we would be nowhere near the price point in fiat that we are today. Using it as a currency is the only thing which encourages it adoption, spread, and growth. Without its use as a currency, then all you have are people trading a useless asset back and forth, which cannot be used for anything other than being traded back and forth, not dissimilar to 99% of the shitcoins currently in existence.
Yes, many large companies buy and hold bitcoin solely as an asset, but at the end of the day it is people using bitcoin to buy goods and services which gives it real value.
The main motive of bitcoin creation was an alternative to the current monetary system to provide the financial assistance at decentralised level providing the holders freedom of their own funds free from any central control but with time as the prices start to increase people start holding it as long term investment that will give them profits in the end.I have personally also spend some at some events like you and don't feel sad about the same because at the end of some point we will be using it in the original manner.But there is still time when it will be normal to spend your btc at the corner shop for which mass adoption is required.Yes, many large companies buy and hold bitcoin solely as an asset, but at the end of the day it is people using bitcoin to buy goods and services which gives it real value.
The large companies holding them in balance sheet as an asset or accepting it as payment mode have gained so much profits with this bull run and made a fortune with holding btc in billons so they will not spend it in short term.But later on they will be cashing out profits by selling it in the market.
December 07, 2021, 04:43:30 AM
Regarding the benefits you get from holding bitcoin and why we usually prefer holding bitcoin instead of holding altcoins for me the most important thing is I know what I buy and what I hold because we know bitcoin and we know how it's working but whenever you are talking about any altcoin there is usually an unclear whitepaper full of lie and most of the assets are being controlled by the owners directly or indirectly which is dangerous and this can be the reason of price manipulation. Generally, I prefer bitcoin because I trust it and there is much more market cap compared to altcoins which make bitcoin safer than altcoins.
December 07, 2021, 01:08:17 AM
bitcoin is a long-term investment where bitcoins can be traded without a time limit so a lot of players want to buy bitcoin even with all the risks that exist such as at this time where bitcoin experienced a very falling and unstable price but the miners never cause excessive panic because for them the decline in bitcoin is common, especially since bitcoin is long-term so at any time it can rise back to unexpected prices
December 06, 2021, 11:24:06 PM
BTC is the superior risk-reward proposition, especially for those with more than just a couple $100 invested in the crypto space. One more thing is buying altcoins can feel a little bit like betting on racehorses. Whereas buying BTC feels more like investing in the racetrack.
December 06, 2021, 06:16:26 PM
I partially agree with you op. There are pros and cons associated with all the assets that you listed.
The truth is that FIAT currencies like USD, EUR etc will always be more reliable in the short-term and long-term when compared to cryptocurrencies like BTC, ETH, LTC etc due to reasons like volatility, historical advantage etc.
Personally, I prefer BTC and other popular cryptocurrencies over other assets even though they are less reliable. Why? Because of the ability to conduct financial transactions online without any sort of government interference in a decentralised manner.
The truth is that FIAT currencies like USD, EUR etc will always be more reliable in the short-term and long-term when compared to cryptocurrencies like BTC, ETH, LTC etc due to reasons like volatility, historical advantage etc.
Personally, I prefer BTC and other popular cryptocurrencies over other assets even though they are less reliable. Why? Because of the ability to conduct financial transactions online without any sort of government interference in a decentralised manner.
With the emergence of Bitcoin and altcoins, there are now plenty of assets to chose from whether it's stocks or government issued bonds, etc but like you pointed out, the biggest advantage with bitcoin and crypto assets is the fact that you can participate in the whole digital economy without giving up custody of your assets except when you use a CEX. As someone who has had experience with other assets, holding crypto assets, particularly bitcoin has given me more peace of mind.
December 06, 2021, 04:38:29 PM
I partially agree with you op. There are pros and cons associated with all the assets that you listed.
The truth is that FIAT currencies like USD, EUR etc will always be more reliable in the short-term and long-term when compared to cryptocurrencies like BTC, ETH, LTC etc due to reasons like volatility, historical advantage etc.
Personally, I prefer BTC and other popular cryptocurrencies over other assets even though they are less reliable. Why? Because of the ability to conduct financial transactions online without any sort of government interference in a decentralised manner.
The truth is that FIAT currencies like USD, EUR etc will always be more reliable in the short-term and long-term when compared to cryptocurrencies like BTC, ETH, LTC etc due to reasons like volatility, historical advantage etc.
Personally, I prefer BTC and other popular cryptocurrencies over other assets even though they are less reliable. Why? Because of the ability to conduct financial transactions online without any sort of government interference in a decentralised manner.
With the emergence of Bitcoin and altcoins, there are now plenty of assets to chose from whether it's stocks or government issued bonds, etc but like you pointed out, the biggest advantage with bitcoin and crypto assets is the fact that you can participate in the whole digital economy without giving up custody of your assets except when you use a CEX. As someone who has had experience with other assets, holding crypto assets, particularly bitcoin has given me more peace of mind.
December 06, 2021, 01:30:54 PM
as much as there are people who don't like altcoins and I also need to not generalize, there are many altcoins that gave high profits, there are ETH that gave high profits, there are BNB that gave high profits and there is DOT, there are LTC, there are so many altcoins that gave lots of profits. It's true that there are many altcoins that are worthless, but there are altcoins that are good projects
If the main goal is to make profit, then the trader or investor can choose whatever they like regardless of how many people will recommend bitcoin for long term investment.Bitcoin has something that many of the altcoin you mentioned above don't and one of them is its usefulness as a legitimate currency. You will probably know why El Salvador prefers bitcoin as their currency over the much cheaper altcoin. Well and this has to do with adoption and real use cases.
December 06, 2021, 01:11:27 PM
Why not altcoins?
I would not go into much detail about the same as i have given it many times but to explain it in simple way here is illustration for you all :
as much as there are people who don't like altcoins and I also need to not generalize, there are many altcoins that gave high profits, there are ETH that gave high profits, there are BNB that gave high profits and there is DOT, there are LTC, there are so many altcoins that gave lots of profits. It's true that there are many altcoins that are worthless, but there are altcoins that are good projects
December 06, 2021, 12:58:10 PM
The reason why I do not worry about the dips at all are:
- Volatility is the nature of Bitcoins
- we have already seen the highest price that bitcoins can climb as a whole which leaves us with this huge opportunity of growth
- growth of Bitcoins as a whole would definitely go up since the current economic system is crashing down and we do not have much resources during the pandemic to invest in.
- major countries and companies have now accepted bitcoins or they are moving towards accepting them which does mean that in the future we might see much more + ups.
That's why during the dips, it's all about your patience.
Getting FUD's ,getting influenced by news around you won't do you much good. Therefore I do think for me it's in general an amazing asset.
- Volatility is the nature of Bitcoins
- we have already seen the highest price that bitcoins can climb as a whole which leaves us with this huge opportunity of growth
- growth of Bitcoins as a whole would definitely go up since the current economic system is crashing down and we do not have much resources during the pandemic to invest in.
- major countries and companies have now accepted bitcoins or they are moving towards accepting them which does mean that in the future we might see much more + ups.
That's why during the dips, it's all about your patience.
Getting FUD's ,getting influenced by news around you won't do you much good. Therefore I do think for me it's in general an amazing asset.
December 06, 2021, 09:44:36 AM
However, regardless of how promising bitcoin is and how high its value can get, we should also consider the risks involved and how bitcoin as a currency cannot survive alone without alternative currencies (fiat). And storing all your funds in bitcoin is not feasible as it is not universally accepted and transactions are not instant.
That's very unfortunate but true. Btc still need fiat i.e. usd for measuring its value. We still say 1 btc is 50k usd. Btc is very much popular in its community but its adoption at mass level is still very slow. Gold is old and matured market as compared to crypto or any other trading market, thats why it has more investment. Crypto is progressing but its a long journey.
While the journey in terms of wider adoption barely begun, it may be safe to say just like the tile of this post, that holding for the long-term might be the best passive investment one can possibly make. So in a market like today, we may think of acquiring BTC at a discount
December 06, 2021, 08:15:12 AM
We should prefer Bitcoin as a place to invest in the long term. The price of bitcoin has increased drastically from 2013 with the price of Bitcoin $ 200 and continues to rise until this year with the highest price of Bitcoin $ 67k on November 8, 2021. I invest in Bitcoin not panic when the price of bitcoin has decreased, I know the price of bitcoin after a definite decline there will be a higher price hike after that.
December 06, 2021, 08:09:59 AM
I sold 25% of my stash (I HODLED since 2014) between $53,8xx & $65,000. I’m now retired & prepared for up or down, whatever. I panicked a lot & actually sold nothing during the last cycle. I couldn’t let that happen this time.
Up or down, I don’t care now. If we go up, I still have 75% & will sell more. If we go down heavily, I will buy.
You need to be prepared for all situations.
Thank you bitcoin, you made my life & have given me opportunities I never would have had.
i'm also trying to learn how to do this, i will buy when the price goes down and then sell when the price goes up but still pay attention to the potential for the market to increase or decrease. bitcoin is a very beautiful thing, gold and property will not give me the opportunity to make a lot of money in a short time but bitcoin does it. bitcoin is a blessing. Up or down, I don’t care now. If we go up, I still have 75% & will sell more. If we go down heavily, I will buy.
You need to be prepared for all situations.
Thank you bitcoin, you made my life & have given me opportunities I never would have had.
December 06, 2021, 07:50:37 AM
I sold 25% of my stash (I HODLED since 2014) between $53,8xx & $65,000. I’m now retired & prepared for up or down, whatever. I panicked a lot & actually sold nothing during the last cycle. I couldn’t let that happen this time.
Up or down, I don’t care now. If we go up, I still have 75% & will sell more. If we go down heavily, I will buy.
You need to be prepared for all situations.
Thank you bitcoin, you made my life & have given me opportunities I never would have had.
Up or down, I don’t care now. If we go up, I still have 75% & will sell more. If we go down heavily, I will buy.
You need to be prepared for all situations.
Thank you bitcoin, you made my life & have given me opportunities I never would have had.
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