The risk and reward of having Bitcoin - page 4.

oktana

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Disadvantages of having fiat
1. It can be stolen if your house uses raided by criminals or even if you’re on the way to or from the bank. Grin

See, you gotta be careful with your assets. These disadvantages you write here, I and many other people have never experienced it. And the volatility you added as a disadvantage, you still mentioned Bull Run as an advantage. So what’s it going to be? Is volatility an advantage or disadvantage?

tjtonmoy

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Those who like Bitcoin, they already know the disadvantage that comes with it. Despite knowing that they invest into Bitcoin. Because they know what it could become in the future. While on the other hand, those who hate Bitcoin will only point out the disadvantage of it and try to take people away from. But from time to time Bitcoin has proven itself to be the best in the business.
Yeah, there are disadvantages that come with Bitcoin. But it is quite easy to avoid and only focus on the good side of it. I'm not saying that just because you were doing your best you can avoid it completely. It is hard sometime but if you're careful enough, you can avoid it 90% of the time.

If you are into Bitcoin and you love it, don't focus on the disadvantages. Because if you focus too much on it, in times of FUD you will not be able to control your emotion and you will take wrong decision. Clear up your mind and stick to what you believe.

CryptoHeadlineNews

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Quote from: Barikui1 on December 11, 2023, 02:53:49 AM

*The high volatility attach to it can be very risky.

And at the same time, it's high volatility can also make it flourishing, (i.e increase higher in value). Hence, making it's volatility both an advantage and disadvantage.

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* It's not generally accepted by all.

Yes, that's true, but with the current exposure of Bitcoin now, you are rest assure to find a 1 or 2 Bitcoin enthusiast in every 10 set or group of individuals

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* It can be stolen if your system is hacked.

But that's only if you use a centralized wallet or store your funds on a centralised exchange, because if only you can have your funds store on non-custodian wallet such as Bluewallet or Electrum, you are rest assured of having your funds on a safe hand & secure hand.

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I don't know if I missed some that I didn't mention.

If the pass phrase of a Bitcoin wallet is lost, it can never be recovered, and likewise if the owner of a Bitcoin does, his family members can never have access to it

ancafe

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Quote from: Barikui1 on December 11, 2023, 02:53:49 AM

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

This is a failure that is carried out by humans, not because of Bitcoin, when you send the wrong thing, the risk is loss and vice versa, the level of security that you apply to the Bitcoin storage wallet that you have. Bitcoin is so perfect for itself and it is the individual's job to be careful and not careless in using it because when someone is not careful, they will be at their own risk.

We have been faced with many risks in the previous system and this does not mean that Bitcoin does not have risks, but to what extent are we able to carry out the level of security and the level of price fluctuations for someone involved in it. You don't need a third party and we can manage the investment system ourselves, these advantages are what make Bitcoin the best choice at the moment.

Kaliandra

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For beginners, they always think that investing in BTC is a way to get rich in a short time, but in reality investing in BTC is not an easy thing because investing in BTC is very risky and must be long term and only Sell during bull runs

op I also feel the bitter sweetness of investing in BTC but I really like investing in BTC because as time goes by I now understand more about BTC and am starting to understand the risks of investing in BTC and the benefits of investing in BTC. But of course everything has risks in this world and success is only for those who don't give up and always learn from mistakes.

but bitcoin is not gold, of course if we invest in it the risk is not too high, whereas if we invest in btc the risk is very high so it requires sacrifice and we are ready to lose if we invest in btc.

The point is, everything is very risky, so in this case we have to be able to respond wisely.

radjie

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Quote from: TimeTeller on December 13, 2023, 04:28:30 PM

Maybe the OP is just exaggerating about being filthy rich. But it can increase your portfolio.
There are pros and cons of holding btc. Now, it depends on how the holder is looking at this market.
Is he for long-term or just short-term? Because his profits will depend on when he will sell his coins.

Someone who is confident in their investment in Bitcoin will certainly prefer to invest long term. This is certainly effective in minimizing losses and from the volatility of the Bitcoin price itself, they can make big profits because everyone can take advantage of the market situation to make purchases or sales with accurate calculations.

Ndabagi01

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Quote from: Barikui1 on December 11, 2023, 02:53:49 AM

*The high volatility attach to it can be very risky.

Yes, bitcoin is a risky investment, but its high volatility has two effects: it can make you money or it can make you lose money. As many have said, 1BTC will remain 1BTC until you touch it and spend it. When the market returns to an uptrend direction, especially during a bull run, the high volatility that causes you to lose money can also cause you to gain money.

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* It's not generally accepted by all.

What is important here is if you can get the value of the money and still spend it. You can always convert to your fiat and spend without any problem arising from it.

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* It can be stolen if your system is hacked.

As a result, bitcoin investment emphasises the importance of asset security. You are now your own boss, and you must take good care of your money and keep it safe, just as banks do. If you follow the right bitcoin security guidelines, you will not allow any intruders into your system.

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* It's almost near impossible to retrieve if sent to the wrong address.

Before sending bitcoin to a wallet, multiple confirmations are required. You don't rush when sending bitcoin; reconfirming your bitcoin wallet address is critical, and if you do it frequently, you won't have a problem sending to the wrong wallet address.

eightdots

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Quote from: TimeTeller on December 13, 2023, 04:28:30 PM

Quote from: pawel7777 on December 13, 2023, 12:38:00 PM

Quote from: Barikui1 on December 11, 2023, 02:53:49 AM

* It can make you filthy rich during the bull run.

Unlikely. It's impossible to provide the same rate of return each cycle, that's why we see decline of about x5 each cycle. So even if it goes to say $150,000 (very optimistic scenario) that's only around x3.6 return from the current price, meaning you won't get filthy rich unless you're already very wealthy.
That's OK though, it's better to have "modest" x3 than gambling your money away sniping for X1000 coins.

Maybe the OP is just exaggerating about being filthy rich. But it can increase your portfolio.
There are pros and cons of holding btc. Now, it depends on how the holder is looking at this market.
Is he for long-term or just short-term? Because his profits will depend on when he will sell his coins.

Every investor has his own goal. For some, this may be a very high profit target, for others it may be a profit target that is not too much but sufficient for them. As you said, this situation is partly related to how the investor looks at the market. Does he wait in the long term and aim for a high profit, or does he want to make a small amount of profit in the short term and continue. Sometimes the market does not leave this decision to us because the crypto market is a market that always contains new news and it is very difficult to act in this market without being affected by this news. In other words, market conditions determine whether we will stay in the market for a long or short time. Of course, this is not the case for everyone; some investors stick to their own plans and continue their long-term investments.

Making a certain amount of profit is better than making no profit at all. By making profits at modest rates, we can perhaps reach high profits later.

JoyMarsha

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Everything on earth has an advantage and disadvantages but the disadvantages of Bitcoin lies in the crypto investor's hand to use in their favor or avoid experiencing it.

1. The disadvantage of high volatility: an investor can use it in his or her favor to buy Bitcoin at a low price and sell at a high profit. Making it a good business to profit from.

2. Not generally accepted by all: That's not bad, not everything is been accepted by the whole world. Those of us who accepted bitcoin, are gradually gaining from it financially.

3. Hacked: What can be hacked is exchangers or crypto wallet that holds bitcoin but the Bitcoin network can't be broken into by hackers. Securing your wallet from hackers lies on you to take care of, to continue keeping your seed phrase in a safe place

TimeTeller

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Quote from: pawel7777 on December 13, 2023, 12:38:00 PM

Quote from: Barikui1 on December 11, 2023, 02:53:49 AM

* It can make you filthy rich during the bull run.

Unlikely. It's impossible to provide the same rate of return each cycle, that's why we see decline of about x5 each cycle. So even if it goes to say $150,000 (very optimistic scenario) that's only around x3.6 return from the current price, meaning you won't get filthy rich unless you're already very wealthy.
That's OK though, it's better to have "modest" x3 than gambling your money away sniping for X1000 coins.

Maybe the OP is just exaggerating about being filthy rich. But it can increase your portfolio.
There are pros and cons of holding btc. Now, it depends on how the holder is looking at this market.
Is he for long-term or just short-term? Because his profits will depend on when he will sell his coins.

pawel7777

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Quote from: Barikui1 on December 11, 2023, 02:53:49 AM

* It can make you filthy rich during the bull run.

Unlikely. It's impossible to provide the same rate of return each cycle, that's why we see decline of about x5 each cycle. So even if it goes to say $150,000 (very optimistic scenario) that's only around x3.6 return from the current price, meaning you won't get filthy rich unless you're already very wealthy.
That's OK though, it's better to have "modest" x3 than gambling your money away sniping for X1000 coins.

jeraldskie11

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Quote from: Barikui1 on December 11, 2023, 02:53:49 AM

why am saying this is because most people especially the newbie's thinks when having Bitcoin the situation is always win win win.

All types of investments have risks, meaning there's no investment that make you profitable without a failure. So if you heard someone offer you a kind of investment that says your funds will be doubled in next week without a risk is probably a scam. Stay away from people who offer you using that phrases because they are only take care of themselves not you and your money. I would say that Bitcoin is one the best thing to invest because the security is there and you can be sure that time will come that you will become profitable if you didn't sell your Bitcoin at a loss.

Tony116

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Quote from: reagansimms on December 13, 2023, 05:15:35 AM

One of the most tempting attractions of Bitcoin is that its price continues to increase and that Bitcoin is not linked to institutions, agencies, or countries. Another of the most basic attractions is fluctuation, the price can rise sharply, but the threat of falling deeper is also there. In Bitcoin investment, you can make big profits quickly, but you can also experience losses quickly too.
In-depth consideration is needed before investing, there will be two possibilities, namely profit and loss. When you are ready to face the risks of investing in Bitcoin, it will be easier to invest because you will avoid fear if a sharp decline occurs.

I agree, decentralization is probably the biggest advantage of bitcoin and volatility can also be considered an advantage but I don't understand why the OP considers it a disadvantage. If bitcoin is not highly volatile, how can we make big profits from bitcoin? Furthermore, isn't it because of bitcoin's high volatility that most of us invest in bitcoin? So I wouldn't consider bitcoin's volatility a downside.
Bitcoin's volatility has decreased in recent years, and that makes me unhappy. If I had one wish, I would wish for Bitcoin's volatility to always be high so that we have more opportunities to make profits.

HajiBagi

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Quote from: Barikui1 on December 11, 2023, 02:53:49 AM

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.

Everyone knows that everything has advantages and disadvantages, but in my opinion, bitcoin has more advantages than disadvantages. As an investor, you must realise that bitcoin is a currency that you purchase and save in order to profit from it. This means that storing food or purchasing products in which you will profit from them also carries risk because you never know when the price will fluctuate. In my opinion, this disadvantage is very evident and that everyone must encounter it.

Furthermore, regarding the theft of bitcoin when a wallet is compromised, I believe that you should exercise caution before allowing scammers to access your wallet. If you don't make the mistake of disclosing your private key to anyone, it should be exceedingly difficult for them to compromise your wallet. This topic you have created is very helpful for beginners, as that is the group that I believe is most likely to make mistakes when handling bitcoin.

reagansimms

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One of the most tempting attractions of Bitcoin is that its price continues to increase and that Bitcoin is not linked to institutions, agencies, or countries. Another of the most basic attractions is fluctuation, the price can rise sharply, but the threat of falling deeper is also there. In Bitcoin investment, you can make big profits quickly, but you can also experience losses quickly too.
In-depth consideration is needed before investing, there will be two possibilities, namely profit and loss. When you are ready to face the risks of investing in Bitcoin, it will be easier to invest because you will avoid fear if a sharp decline occurs.

Blitzboy

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Quote from: Mahanton on December 12, 2023, 03:43:00 PM

Quote from: stadus on December 12, 2023, 03:33:45 PM

Quote from: Majestic-milf on December 11, 2023, 05:59:01 AM

There's nothing worth having that won't require you pay a little price. In every business, there's the certainty that there'd be ups and downs and Bitcoin is no different. Only, you have to invest with what you can afford to lose. For some, the idea of Bitcoin being volatile can be appealing because it can quickly surge after it most have gone down but some too afraid to involve themselves and these group are mostly those have the mentality that it's a get rich quick scheme that has no downside.

Then again before involving yourself in any kind of business,it's necessary to DYOR so it can help prepare you for what you are getting into. Just as the op has stated about the risks, there are many more and I'd like to include FUD as one of the risks because when you entertain such, it will make you miss out.

In order to see your investment's success, you need to pay the price first. That is dealing with the risks and continue to defeat them, if not at least learn to manage them. With bitcoin, a lot of risks and disadvantages are being said, but a lot of us here would still want to continue investing in bitcoin because of how promising it is and guaranteed profitable if you'd only know how to deal with it.

Most likely, those who have high risks are also known to give the sweetest fruits in the end, and bitcoin is a valid proof for that. That is the reason why even if other people see bitcoin as a get rich quick scheme, as a tool for criminals or a threat to the government, still bitcoin enthusiasts continue to trust bitcoin because of its high yielding rewards and profits.

The only main key on here that risks tolerance and acceptance, then you wont really be able to think about being a problem because once you do step your foot into this crypto space then it would really be just that
fine for you and not really that something stressful on your part. There are ones who are really that making those careless steps and on the time that they do see negative into their portfolio, then they would really be starting on freaking out. Risk and reward thing? it would be always that common to see or to look at into this kind of investment. You wont really be that making yourself that too careless and not being mindful about the risks involved in crypto specially on investing with Bitcoin but since we are seeing that this project or coin that had been mostly been trusted and recommended by any crypto enthusiast then it wont really be that something that you could blame on on why they would really be mainly choosing this. As for those people who are reconsidering altcoins then it would really be their own choice since not all people would really be liking to see
on getting multiple folds on their investment and this is why they would really be considering out such option.

Crypto market winners have a special mix of risk tolerance and strategic planning. People who work in crypto know that instability is a normal part of the hobby. How to open it? Stabilizing awareness with action. Instead of jumping right in, they look around, learn, and then take a bold step.

Watching Bitcoin's past shows that it has grown and been strong even when things went wrong. Successful investors havent just been lucky; they've also been smart. As a result of its strong community and cutting-edge technology, they see Bitcoin's promise. They are not affected by short-term drops because they are focused on the big picture. Its not carelessness; its confident knowledge. "altcoins" are also a choice, but Bitcoin is still the most stable and well-known cryptocurrency.

cozytrade

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It is natural that every investment will have some risk associated with the reward. Any type of investment cannot earn good rewards without volatility. Bitcoin has some guidelines that you need to understand well. And considering the pros and cons, you have to take the right path. If you can choose the right Bitcoin platform. Then you don't have to bear any kind of risk. Bitcoin is the best to keep your funds safe and earn good rewards on investment. And Bitcoin is a reliable asset that you must be aware of when it comes to reckless investment. So that you don't lose money

BTC_Dragon

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I don't see any downside to owning Bitcoin, even when it dips. I buy more. There is only downside to sitting on excess fiat, and not holding any Bitcoin at all.

famososMuertos

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Trust is a quality that many forget is that associated "brand" factor that bitcoin intrinsically has, regardless of that volatility in the positive effect, or the opposite side, losses.

So, no matter what position you are in at a given moment: reward or loss, trust is intrinsically associated with bitcoin, so the element of risk is accepted regardless of the outcome of that volatility.

In the same way, by understanding or being part of bitcoin based on trust, you understand that there are interests that not only lead us to want to be "rich", and we begin to see that incredible value that as a technology it offers, not only for an individual economic change, If not, also it offers the possibility of a payment method, or overall, it empowers the individual, etc, those are good rewards too, although it may not change your financial status...

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Quote from: Barikui1 on December 11, 2023, 02:53:49 AM

* It can make you filthy rich during the bull run.

Not all the times, yes bull run could make you rich instantly if you have the good position or have the right position you brought your bitcoin, and I think the word "rich" is too much, maybe it can give you a lot of money and profit its not necessarily that you ride the bull run means you are rich, remember a person can be called rich if he can utilize its money, for example you've gain a lot of money from the bull run yes maybe this day you are rich but until when? if you don't have proper money management and you let your money go away then you are still not rich, if you maintain your money and grow it more then that's when you are entitled to be rich.

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