Should I Keep Buying Bitcoin Alone if I Have Limited Resources? - page 2.

Wexnident

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Quote from: Winderl on June 02, 2023, 08:15:25 AM

Wouldn't they have something more to say to people than, "just buy BTC?". What would they tell people should be the criteria for their investments? What coins do you think these early crypto investors are investing in currently as a compliment to BTC & ETH, that they believe will help newer investors meet their present day goals?

Well the question is related to BTC, such as "Should they buy BTC" after all, so I reckon the answer of just buy it is actually more than enough of an answer. After all, considering the positions of early investors, I don't think they've made a loss if they've continued hodling till now. Criteria for choosing another "Bitcoin" though? Kinda hard to give since it's been a decade and Bitcoin's still the king. The rest of the coins that were released are either shitcoins, or Bitcoin but with caveats (as well as its own advantages, but caveats still are above it imo). If it was just choosing another coin, well that depends now on how well us as investors can actually understand what they want to do and what their plans are.

I believe helping new investors achieve what they want is close to nill, at least in the short term. A lot of money is lost in the process of learning to invest, and I highly doubt they'd stay after losing a few thousands of bucks. If they stay though, that just means they're prepared to lose more, not necessarily achieving their goals immediately.

deean_3one

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Bitcoin is the best coin in crypto. Having Bitcoin is one good investment. Crypto is highly volatile. But the one who leads or who guides the price is Bitcoin. If it goes up then the price of alternative coins will also go up. Therefore, Bitcoin is the safest investment in crypto because the risk is smaller compared to investing in other coins.

killerfrost

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I encourage you to learn more about this investment and its risks. You need to weigh and manage your risk to avoid losing money. Because the crypto market in general today is very accessible and there are a lot of negative things surrounding it, especially in the current context of the market we are in a difficult period and many issues are not really clear. Recently, the HYPE story has appeared a lot, and investing in bitcoin will face many obstacles if you do not have the right view of bitcoin. Set personal goals and approach it according to a plan, each person will have a different understanding and approach to bitcoin, but most of the time when I look at this market when you are strong enough, you will avoid it want to take risks and choosing bitcoin is always the beginning and the end.

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Quote from: gaston castano on June 03, 2023, 12:11:14 AM

if you have problems with resources. and don't really want to take risks btc can be the right choice, but under these conditions no one expects btc to go up so fast.
so you just have to be patient and wait for that moment to arrive.

Resources can mean money so if one is limited or doesn't have a budget at all, it's still useless to recommend Bitcoin to them because they can't still buy it. Maybe the one that they should think for now is how to get a job. BTC can just wait so one must not rush on it.

We can also apply for a BTC paying job online and get paid in Bitcoin directly. This way, there is no need for us to buy it using a fiat. There is also a Bitcoin faucet which can be done by anyone. No skill needed here. Yes, the drop rate is tiny but if we can use multiple faucet at once, I think that will still be a good amount if we sum them all together. This is less risky than investing directly. We won't care if BTC will drop because we only obtain it for free anyway.

Apocollapse

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The early adopter didn't even looking and know if they will make a lot money by investing in BTC, they're buy or mine Bitcoin because they believe the project and they're looking for the use case. Satoshi never say Bitcoin will reach x price in the next year or ten years later, actually almost all altcoins right now promise about return, which is clear they're not give any use case, but just want to make money and scam the investors.

I don't think there's an another new coin which could be like Bitcoin, if there's in the future, that coin should overtake Bitcoin since it's better than Bitcoin.

smile1218

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Investing in bitcoin or any other asset with limited resources can be a risky proposition. Bitcoin has seen a significant price increases in the past, it is important to remember that past performance is not indicative of future results. If you do decide to invest in bitcoin, it is important to do your own research and try to consult a financial expert to determine if it is suitable investment if you have limited resources. It is important to only invest what you can afford to lose as crypto currency market can be volatile and unpredictable. Never invest if you cannot afford and you will take risk to take a loan just to invest, do not do it.

Hypnosis00

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Talking about "Limited Resources", you'd rather use it wisely OP because if that will lose, nothing would replace it. If you are just aiming for a long-term investment, Bitcoin is literally the best option to take. Altcoins could also be another option but must take extra caution upon choosing them, especially for new coins and hyped projects. If we want profit assurance, Bitcoin should be on the top among crypto.

But I would suggest just think it wisely, the risk is always there in the crypto space, and you can't guarantee safety but at least choosing Bitcoin give you a different situation.

gaston castano

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if you have problems with resources. and don't really want to take risks btc can be the right choice, but under these conditions no one expects btc to go up so fast.
so you just have to be patient and wait for that moment to arrive.

JeffBrad12

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I just think that investing in bitcoin is like accumulating your wealth though, if you seek for returns you better invests in an altcoin that's actually having better chance of turning around some measly investment into something meaningful but some small investment would definitely have near zero impact with bitcoin, since its value is too high for some people out there.
as you said, accumulating as much bitcoin as someone could can be done through various several means, like through investing in some altcoins and then convert the profits that you earned to bitcoin for the sake of growing your bitcoin investment.
after all, not everyone have the capability to just accumulate until 1000 btc, let alone that much, 1 bitcoin is already too much for many, so I think seek returns more when your capital is relatively low.

ElmedoRator

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You have limited resources in general and should prioritize risk management over chasing higher returns. Investing in lower-risk bitcoins can offer more stability and potentially preserve your capital better than investing in highly volatile altcoins. With limited funds, it's generally a good idea to focus on investments that are considered less risky and have a solid track record. Bitcoin, being the oldest cryptocurrency with wide adoption, may offer a relatively safer option. So risk management, staying informed, and being patient are key factors in pursuing long-term success in any investment endeavor.

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Quote from: Rengga Jati on June 02, 2023, 04:47:15 PM

Actually there are several conditions: if you want to
1. If you really believe we can afford it without disturbing finances for your needs, so you only use free money to invest
2. If you are really aware of the risks and you are ready
3. If you are really interested and not because of someone else's encouragement.

Yes, it was indeed there are criteria for us to guide and help in making a decision. As long as it will give us satisfaction and the confidence that we can earn a profit from this, we no longer and not necessarily have to spread it with altcoins as it only gives us more stress. For me, investing in Bitcoin is a good decision and I know that it won't disappoint in the end rather than investing in altcoins we're not sure if that will turn into a scam. In fact, many investors are just focused on Bitcoin and feel they are happy with the results, unlike those people who are investing in altcoins where we can hear a lot of complaints.

Rengga Jati

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Actually there are several conditions: if you want to
1. If you really believe we can afford it without disturbing finances for your needs, so you only use free money to invest
2. If you are really aware of the risks and you are ready
3. If you are really interested and not because of someone else's encouragement.

MainIbem

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As a cryptocurrency Amateur I didn't expect you to keep listening to those whales who kept saying buy and hold and don't sell any, now you may consider yourself not being in same categories with them because their wealth can never be quantified as yours maybe, probably you are only looking for a way to survive with at least $1k while they already carved out about $500k or more to invest in bitcoin while you as $1k investor would keep listening to them as same time you lost your investment. So the best is, sell whenever you feels like selling and buy when you think the Market is dip enough for you to buy instead of follow the whale.

someone703

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Bitcoin is generally considered a relatively safe investment in the cryptocurrency market due to its good track record, wide adoption, and limited supply. It has proven resilient over the years and has become a store of value for many investors. If your goal is to distribute coins regularly and hold them for a long time without active participation, then Bitcoin could be a suitable option. It has shown long-term growth potential, and its scarcity and position as the first and largest cryptocurrency contribute to its appeal. On the other hand, if you want to participate more actively in the cryptocurrency market and seek higher potential returns, then diversification becomes important. Please consider carefully because altcoins have a higher risk ratio than bitcoin anyway.

Johnyz

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You can actually buy new tokens with a huge potential in the market, you can start doing this with a small portion of your money.
Bitcoin is good for long term yes, but having said that you are only limited I think its better to deal with the altcoins and once you already made a huge profit, then have some Bitcoin as well. Be active in this market, there's a lot of way to earn free money, all you have to do is to do your own research and be consistent.

Yamifoud

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Well, some are saying that putting all eggs in one basket is not a good idea but I'd just think that investing in Bitcoin alone is not also a bad decision. Because we believe that Bitcoin is a good investment and the most promising project in the crypto space we have some confidence that it will grow and pay us back what we are invested (ROI). In fact, it was better to have a single investment (Bitcoin) rather than shared it with altcoins as we know that altcoins are reliant on the Bitcoin's market trend.

passwordnow

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Criteria will depend on each of their own. While there are investors that are looking forward to new projects because they think that the opportunity is there. We as long-term investors have only one criterion and that's because Bitcoin is king.
Even if someone has limited resources, that shouldn't be a factor to stop investing or stop DCAIng Bitcoin because you know what's coming and you understand the factors that are setting Bitcoin to have its rough but worth it road for everyone.

Silberman

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Quote from: Doan9269 on June 02, 2023, 08:29:47 AM

If you think you're really interested in making a profitable investment with lesser risk then first considers bitcoin, later if you're getting along and have improved more in knowing about how to research other cryptocurrencies, you can give a try on Ethereum as well and any other cryptocurrency you think worth it and deserves your investment after a thorough research on them, don't also get too involved in many altcoins because of the scam projects and don't invest on tokens if you're intending to hold for long.

Exactly, the problem with a great deal of investors or traders is that they they want to run before they even learn how to walk, they want to invest in all kind of coins since the beginning of their journey and this is simply a mistake, in my opinion investors should restrain themselves to invest in bitcoin only for at least a cycle, then once they have proved to themselves that they have what is needed to make money by only investing in bitcoin and they know more about this market then they can take their chances with altcoins.

gurunanakji777

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If I were in your position, I would diversify 50% of my funds to BTC and 50% to ETH and I must say If you can manage to buy you must try to buy and retain them for a substantial duration, akin to a fixed deposit in a bank that yields good interest. In my opinion, BTC is a valuable asset for individuals who can hold it over an extended period. My top priority is always BTC, followed by Ethereum and BNB.

Yatsan

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If you have limited resources and you are that eager to invest, chase after less risk than profit. Choosing altcoins would put your funds at a bigger risk than with Bitcoin or other assets. Every asset has volatile market prices but atleast you would be able to compare which would have a more volatile one. I won't agree with others who pushes bigger risk and reward if you have limitations with your funds in the first place. Why? 'coz that would be a gamble. The bigger yout capital is, the more you would be able to endure market price changes ofcourse. Manage the risk all the time.There's no easy profit in any industry so better be more careful with a more volatile one.

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