Topic: The risk and reward of having Bitcoin (Read 1098 times)
The bull run in the market should be understood well. Setting goals is easy if there is a good plan and roadmap. Not only crypto but the work you go for will have risk when it comes to Bitcoin investment is more likely to be rewarded here if done right. Altcoins perform well when the price of Bitcoin increases. But when a coin is pumped in the market it is beneficial to understand them.
That is unfortunately the mindset of many people who get into crypto world, they do not really think it through all that easily, they end up thinking that they could get rich very easily or even if not easily, they could get rich like there is no tomorrow.
Unfortunately that's not true, we all wish it was true, but it is not. There has been a few people who have done it, there is no argument there, I am not saying nobody ever got filthy rich off small amount in the crypto world, that has happened before and will probably happen again, but that's a very small percentage of the crypto population, most people do not even have anything like that, it should be considered a little bit different and we need to try to make a "decent" amount at most.
Everything works the same in all areas, it doesn’t matter whether it’s a traditional business or a cryptocurrency, there will be a small number of those who will succeed and can truly get rich, the rest will either earn relatively little or lose money.Unfortunately that's not true, we all wish it was true, but it is not. There has been a few people who have done it, there is no argument there, I am not saying nobody ever got filthy rich off small amount in the crypto world, that has happened before and will probably happen again, but that's a very small percentage of the crypto population, most people do not even have anything like that, it should be considered a little bit different and we need to try to make a "decent" amount at most.
I don’t know what it depends on, on thinking, education, or anything else, but I see that this is exactly what happens. And in crypto it can even be luck, with Bitcoin it probably won’t work out like that, it won’t be able to show such great growth as before, but with some altcoin you can try your luck, for those who are looking for quick money. I don’t like this approach, for me it’s better to buy Bitcoin and wait for the bullrun, but everyone decides for themselves what’s best for them.
Indeed, there are a lot of people who handle things differently like the process of learning and gaining experience in Bitcoin, for example, when losing a lot of money, some people would definitely quit as they think they don't have the skills and knowledge, but some would learn from it and build up the skills they can use for their own advantage to earn profits. From that, we could say there are still people who could succeed in the crypto industry, and I have seen friends who changed their lives with the help of crypto.
With the current state of the market of Bitcoin, it would be hard to invest with its high value today, you can expect huge profits whenever there's a bull run or bear market that you can take advantage with, but the thing is it's like seasonal where you can expect once in a year situation. Some people explore crypto not only in Bitcoin where they can also profit in altcoins as some of them have a good project plan or roadmap, teams, marketing, etc.
That is unfortunately the mindset of many people who get into crypto world, they do not really think it through all that easily, they end up thinking that they could get rich very easily or even if not easily, they could get rich like there is no tomorrow.
Unfortunately that's not true, we all wish it was true, but it is not. There has been a few people who have done it, there is no argument there, I am not saying nobody ever got filthy rich off small amount in the crypto world, that has happened before and will probably happen again, but that's a very small percentage of the crypto population, most people do not even have anything like that, it should be considered a little bit different and we need to try to make a "decent" amount at most.
Everything works the same in all areas, it doesn’t matter whether it’s a traditional business or a cryptocurrency, there will be a small number of those who will succeed and can truly get rich, the rest will either earn relatively little or lose money.Unfortunately that's not true, we all wish it was true, but it is not. There has been a few people who have done it, there is no argument there, I am not saying nobody ever got filthy rich off small amount in the crypto world, that has happened before and will probably happen again, but that's a very small percentage of the crypto population, most people do not even have anything like that, it should be considered a little bit different and we need to try to make a "decent" amount at most.
I don’t know what it depends on, on thinking, education, or anything else, but I see that this is exactly what happens. And in crypto it can even be luck, with Bitcoin it probably won’t work out like that, it won’t be able to show such great growth as before, but with some altcoin you can try your luck, for those who are looking for quick money. I don’t like this approach, for me it’s better to buy Bitcoin and wait for the bullrun, but everyone decides for themselves what’s best for them.
That is absolutely correct everything that has advantage also have disadvantage as you stated and that is how cryptocurrency market normally works and the only way is not to be too much greedy in the market, because after Bitcoin halving we are going to expect Bull Run market which many alt-coins normally pump and the only way is to set first and second target to sell.
Your point are very nice once but then around your advantage are a few that needs to be addressed especially the aspect of getting filty rich well this shouldn't be an avenue to think it's a vet rich quick scheme cause such mindset only gets you into trouble as you may get disappointed if it doesn't happen almost immediately because it usually not so quick but it does help you get rich especially if you bought in time and held well enough as you should, long term hodling does it even better but short term can if your capital is quite huge but always bear in mind there's always a risk attached to every form of investment.
Even in a Bull run there could be a risk of loosing too if you lack patience and discipline because the profit doesn't come instantaneously but it will still take a few days or weeks amidst the bull runn.
That is unfortunately the mindset of many people who get into crypto world, they do not really think it through all that easily, they end up thinking that they could get rich very easily or even if not easily, they could get rich like there is no tomorrow.Even in a Bull run there could be a risk of loosing too if you lack patience and discipline because the profit doesn't come instantaneously but it will still take a few days or weeks amidst the bull runn.
Unfortunately that's not true, we all wish it was true, but it is not. There has been a few people who have done it, there is no argument there, I am not saying nobody ever got filthy rich off small amount in the crypto world, that has happened before and will probably happen again, but that's a very small percentage of the crypto population, most people do not even have anything like that, it should be considered a little bit different and we need to try to make a "decent" amount at most.
With the governments we can't be sure, as they want to have control over the uncontrollable asset. For this they keep on trying different things to restrict people from using it. The reward is something assured for the risk we take. In particular what we hold unlike the market situation and different manipulation gives you with the best.
If we consider the advantages and disadvantages of Bitcoin, we will get more advantages but government of various countries exaggerates its difficulties. As a result, many people may react negatively to it without understanding. When the government failed to regulate Bitcoin, they made many negative comments about Bitcoin. But still when they fail to bring about their regulation they legislate. But if an unbiased and impartial opinion on Bitcoin is given, then it must recognize the benefits of Bitcoin as the highest priority. But here many governments are thinking positively about Bitcoin and we will be able to see its reflection in the future.
Risk is if you are looking for short term benefits and focus on pump and dump schemes.
There is a saying that what ever had an advantage also had a disadvantage, why am saying this is because most people especially the newbie's thinks when having Bitcoin the situation is always win win win. So I will be listing a few of the advantages and disadvantages of having it.
disadvantage of having it
*The high volatility attach to it can be very risky.
* It's not generally accepted by all.
* It can be stolen if your system is hacked.
* It's almost near impossible to retrieve if sent to the wrong address.
advantages of having it
* It can make you filthy rich during the bull run.
* It decentralized, no third party like banks and financial institution.
* It's a self custodian asset, the privacy is priceless.
* It's very accessible at any given point in time.
I don't know if I missed some that I didn't mention.
Your point are very nice once but then around your advantage are a few that needs to be addressed especially the aspect of getting filty rich well this shouldn't be an avenue to think it's a vet rich quick scheme cause such mindset only gets you into trouble as you may get disappointed if it doesn't happen almost immediately because it usually not so quick but it does help you get rich especially if you bought in time and held well enough as you should, long term hodling does it even better but short term can if your capital is quite huge but always bear in mind there's always a risk attached to every form of investment.disadvantage of having it
*The high volatility attach to it can be very risky.
* It's not generally accepted by all.
* It can be stolen if your system is hacked.
* It's almost near impossible to retrieve if sent to the wrong address.
advantages of having it
* It can make you filthy rich during the bull run.
* It decentralized, no third party like banks and financial institution.
* It's a self custodian asset, the privacy is priceless.
* It's very accessible at any given point in time.
I don't know if I missed some that I didn't mention.
Even in a Bull run there could be a risk of loosing too if you lack patience and discipline because the profit doesn't come instantaneously but it will still take a few days or weeks amidst the bull runn.
The risk is the security, and the governments. The security issues were almost solved with the existence of more wallets that help with different security features. With the governments we can't be sure, as they want to have control over the uncontrollable asset. For this they keep on trying different things to restrict people from using it. The reward is something assured for the risk we take. In particular what we hold unlike the market situation and different manipulation gives you with the best.
The benefits of using bitcoins are greater because I deposit all of my money, holding some money for the long term. And trading by remaining assets which are currently in profit.
Makes no sense, you are dividing the money into two parts, one of which you are depositing and the other "holding"? Then you are trading with the remaining assets? Which part is going into bitcoin and which part into traditional investments? 
Quote
Bitcoin has such security that the owner of transactions can never be traced.
Wrong, it is pseudo-anonymous. Users can be traced by proper means but it is difficult to do the same. If you are more interested in privacy prefer Monero.Quote
Especially since I have millions of assets invested in them and I walk around with them hand in hand and no one knows anything about me. But if I were to take these assets out into the open, there is definitely a possibility of robbery.
Who says bitcoin users are not at risk of robbery? People get kidnapped and held at gunpoint to reveal their private keys, what would you do then?Indeed the long term prospect of bitcoin is good, but you need to be careful with it.
Here's the thing: the risk isn't built into Bitcoin itself, it's all about how you approach it. Jumping in blind is a surefire way to get your pants ripped off, but with some smarts and a healthy dose of caution, it can be a rewarding adventure. Doing your research "DYOR" understanding the tech and the market, and only investing what you can afford to lose – those are the golden rules that separate the thrill-seekers from the face-planting fools.
And let's not forget the FUD squad, the fear-mongering vultures whispering doom and gloom in your ear. They're the naysayers, the manipulators trying to sow panic and drive prices down. Don't let them get to you, man. FUD is like background noise in any volatile market, just another voice in the crowd. Listen, analyze, but don't let it drown out your own research and gut instinct.
Well, I just hope that everyone has that kind of thinking but as we can see, very unfortunate that many of us remain emotional, and even though we have knowledge and market experience, most of the time we lose control of our emotions. That was the biggest problem that I've ever seen and this is really hard to change a reason why not all investors went well and succeeded, many suffered losses and quit. And let's not forget the FUD squad, the fear-mongering vultures whispering doom and gloom in your ear. They're the naysayers, the manipulators trying to sow panic and drive prices down. Don't let them get to you, man. FUD is like background noise in any volatile market, just another voice in the crowd. Listen, analyze, but don't let it drown out your own research and gut instinct.
FUDs, negative news, social media - these things change one's mindset. I would say that investing is not just all about knowledge and skills but also, management skills and self-control.
There is a saying that what ever had an advantage also had a disadvantage, why am saying this is because most people especially the newbie's thinks when having Bitcoin the situation is always win win win. So I will be listing a few of the advantages and disadvantages of having it.
disadvantage of having it
*The high volatility attach to it can be very risky.
* It's not generally accepted by all.
* It can be stolen if your system is hacked.
* It's almost near impossible to retrieve if sent to the wrong address.
advantages of having it
* It can make you filthy rich during the bull run.
* It decentralized, no third party like banks and financial institution.
* It's a self custodian asset, the privacy is priceless.
* It's very accessible at any given point in time.
I don't know if I missed some that I didn't mention.
disadvantage of having it
*The high volatility attach to it can be very risky.
* It's not generally accepted by all.
* It can be stolen if your system is hacked.
* It's almost near impossible to retrieve if sent to the wrong address.
advantages of having it
* It can make you filthy rich during the bull run.
* It decentralized, no third party like banks and financial institution.
* It's a self custodian asset, the privacy is priceless.
* It's very accessible at any given point in time.
I don't know if I missed some that I didn't mention.
The benefits of using bitcoins are greater because I deposit all of my money, holding some money for the long term. And trading by remaining assets which are currently in profit. Bitcoin has such security that the owner of transactions can never be traced. Especially since I have millions of assets invested in them and I walk around with them hand in hand and no one knows anything about me. But if I were to take these assets out into the open, there is definitely a possibility of robbery. So in Bitcoin I get huge benefits using it.
In my opinion, crypto cannot be hacked as long as we understand and know how to store Bitcoin assets correctly. Most hack cases are due to the user's own negligence.
Bitcoin is about accuracy, thoroughness and our own management of it. We are the bank itself. So, sending and storing errors are borne by ourselves, unlike the bank, if something goes wrong with the customer's funds, it is the bank's fault and the bank is responsible for it.
I totally agree with you, When it comes to cryptocurrencies like Bitcoin, the responsibility lies with us as users to ensure the security of our assets. It's all about being accurate, thorough, and taking the necessary steps to store and send Bitcoin correctly. Unlike traditional banks, where the responsibility lies with them, with Bitcoin, we become our own bank. This means that any errors in sending or storing Bitcoin are solely our responsibility. It's crucial to be diligent and well-informed to minimize the risks and keep our assets safe. Thanks!Bitcoin is about accuracy, thoroughness and our own management of it. We are the bank itself. So, sending and storing errors are borne by ourselves, unlike the bank, if something goes wrong with the customer's funds, it is the bank's fault and the bank is responsible for it.
But all that is in one category, the other which you guys didn't talk about and that I fear so much about is the way the market fluctuates in value. I fear this so much when it comes to the bearish season. Once everyone knows this bearish time, I think it will be safer for them to keep the value of their Bitcoin as they will know the time to opt-in and opt-out. This is what I call a smart investment, it will not let your coins amount to less when you actually need them.
Bitcoin gained popularity for its price volatility. It also offers the possibility of financial freedom and the ability to transact without intermediaries. And it's imperative to approach bitcoin or any cryptocurrency investment with caution and be aware of the inherent uncertainty in the market. There are also security concerns, as hackers and scammers can track bitcoin users.
From the above discussion it can be said that BTC is decentralized but some platforms are not related to it. There are still people who don't care. But what is important, it is absolutely true that they can still benefit with BTC. To those who are new to this platform but interested in investing, learn about BTC, understand and be careful about storing BTC and then invest.
From the above discussion it can be said that BTC is decentralized but some platforms are not related to it. There are still people who don't care. But what is important, it is absolutely true that they can still benefit with BTC. To those who are new to this platform but interested in investing, learn about BTC, understand and be careful about storing BTC and then invest.
Here's the thing: the risk isn't built into Bitcoin itself, it's all about how you approach it. Jumping in blind is a surefire way to get your pants ripped off, but with some smarts and a healthy dose of caution, it can be a rewarding adventure. Doing your research "DYOR" understanding the tech and the market, and only investing what you can afford to lose – those are the golden rules that separate the thrill-seekers from the face-planting fools.
And let's not forget the FUD squad, the fear-mongering vultures whispering doom and gloom in your ear. They're the naysayers, the manipulators trying to sow panic and drive prices down. Don't let them get to you, man. FUD is like background noise in any volatile market, just another voice in the crowd. Listen, analyze, but don't let it drown out your own research and gut instinct.
And let's not forget the FUD squad, the fear-mongering vultures whispering doom and gloom in your ear. They're the naysayers, the manipulators trying to sow panic and drive prices down. Don't let them get to you, man. FUD is like background noise in any volatile market, just another voice in the crowd. Listen, analyze, but don't let it drown out your own research and gut instinct.
Your risk points are based either on investing recklessly or on not knowing how to protect your coins. If you created your wallet in an AirGap system and the entropy was truly random, and you stored your seeds correctly, then the chance of losing your money is almost non-existent.
The investment must be long-term, for two halving cycles on average, to avoid any real loss. It is true that it may not be the ideal investment, but adding Bitcoin to your investment portfolio is considered a smart move.
The investment must be long-term, for two halving cycles on average, to avoid any real loss. It is true that it may not be the ideal investment, but adding Bitcoin to your investment portfolio is considered a smart move.
I think OP may add that there is a huge risk if you keep your BTCs inside an exchange since you do not have entire access to your private keys. The longer you keep your BTCs in an exchange, the bigger the risk that your coins may be compromised due to security reasons, like what happened to several exchanges years ago.
This is the reason on why people recommend having a non-custodial wallet so you have complete control over your funds rather than entrusting to a third-party your private keys.
Another thing to point out is that the pros overwhelm the cons of having BTC. I also think that majority of the cons are not because of the BTC itself but rather on what you do to your BTCs (e.g. keeping in exchanges, investing in ponzi-schemes, visiting random/phishing websites, etc.).
I wouldn't consider taking the risk of Bitcoin, I rather think about what it can Generate and give me reliable money, it's something that I fear I have to consider if this is something trivial , I would like that one day Bitcon would be like a way to be able to pay for Everything I refer to the best way to have a self-sustainable economy where there is no type of inflation regarding it, that is why when we are anywhere in the world they can accept bitcoin because it has become a very alternative and very beautiful economy, That's why we will always see that it is the best option for everything and those who still don't believe, because they don't know what they are missing, may open their eyes too late.
In this aspect we can say that bitcoin is the best Investment in the world , for me above gold itself what many are looking to do is that , make it above gold to see if they React with that.
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In this aspect we can say that bitcoin is the best Investment in the world , for me above gold itself what many are looking to do is that , make it above gold to see if they React with that.
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Indeed, volatility can be a great way to make money for people who understand how markets work and are willing to take on risk. You're right; acceptance is growing, and online transfers can be used in places where offline acceptance is still low.
When it comes to safety, your focus on being alert is very important. Yes, hacks are a problem, but as you said, they can be lessened by being careful and using strong security measures. Also, your measured view on how decentralized Bitcoin is is right on the mark. Even though not all sites that work with Bitcoin are decentralized, that doesnt change the good things that Bitcoin can do. You said it right—knowing and understanding the world of cryptocurrencies is key.
Without the volatility of the market, Bitcoin would never have gained such fame and attention. In fact, nobody had seen its potential before until the time that it booms after hitting the ATH and people started to talk about it. When it comes to safety, your focus on being alert is very important. Yes, hacks are a problem, but as you said, they can be lessened by being careful and using strong security measures. Also, your measured view on how decentralized Bitcoin is is right on the mark. Even though not all sites that work with Bitcoin are decentralized, that doesnt change the good things that Bitcoin can do. You said it right—knowing and understanding the world of cryptocurrencies is key.
No risk, No gain...
Understanding the risk is a part of investment which is why we should not force ourselves to invest if we can't do it. Despite the risk, people made a decision to invest in Bitcoin because there is a bigger earning potential than the other forms of investment and this drives people to accept and deal with it. Nothing is safe but hacking can be avoided if we secure our funds properly...
We must be careful when we trade Bitcoin. When we do business in anything we must take risk and move forward with the fear of losing money. How safe I keep my tokens or how safe I keep my wallet is up to me. Of course we have to keep in mind that Bitcoin is risky. Knowing that we need to trade in Bitcoin. We will definitely succeed in Bitcoin trading if we are careful and have a long-term plan and trade patiently.
disadvantage of having it
*The high volatility attach to it can be very risky.
* It's not generally accepted by all.
* It can be stolen if your system is hacked.
* It's almost near impossible to retrieve if sent to the wrong address.
Well, from this disadvantages could be reduced if you know the crypto industry. The volatility of Bitcoin is the reason why people love it since it is one of the reasons why we could profit from investing in Bitcoin. Many people are used to the fiat system which is why when they found out about Bitcoin, it was pretty complicated for them since there are a lot of things you would have to consider starting from familiarization. The last two can be easily avoided if you are smart in using your gadgets and the internet. Not clicking any fishing links, have your pop-up ads turned on in your settings, etc.
advantages of having it
* It can make you filthy rich during the bull run.
* It decentralized, no third party like banks and financial institution.
* It's a self custodian asset, the privacy is priceless.
* It's very accessible at any given point in time.
I don't know if I missed some that I didn't mention.
I couldn't say that it could make you rich at bullrun unless you have been holding Bitcoin for many years, but of course, you could profit depending on the holdings of Bitcoin you have. Bitcoin also gives people convenience in that they can even use it anywhere as long as they are connected to the internet but would be better to not use it in public for safety purposes.
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