Topic: There's no lottery ticket in Bitcoin, it's a savings account (Read 398 times)
I think we can still consider it as a lottery ticket if bitcoin were to really go from this price to a million dollars a pop, think of it like a lottery ticket that has the right numbers in the future. I don't think savings account is a good word for it though because these days, savings account is pretty much an obsolete way of storing your money with their really low interest, might as well gamble the money.
yes it's true there is no lottery in bitcoin. because this is a long term investment company, why many people want to invest in bitcoin, because the profits can be commensurate with what is invested.
so that's why people convince themselves like deviating money in a bank with very guaranteed security
so that's why people convince themselves like deviating money in a bank with very guaranteed security
Yes, it is not the right thing to buy crypto with all of your savings.
Some literally did it including their house and land and it's all worth it because they've done it a few years ago and there's no regret from doing that. But in these times, it's hard to maintain that kind of positivity because most of the people are thinking about negative possibilities towards bitcoin's price movement.It is the most risky action you would take, trust me. It is the best to invest an amount which you won't regret if you lose that money. It is really a good thing to accumulate little by little in time.
Just invest what you afford to lose, that's the usual advise.
Currently I'm trying to put most money as possible in bitcoin to avoid fiat because I'm really fearful about the global economy situation after pandemic. Before it wasn't good already, but due to the pandemic the emission of paper money increased considerably and we are going to see its consequences on the next years. So better if you have your funds protected far away from the traditional economy currencies.
For this reason bitcoin became not only a saving account, but also my main account. If I could I would use only it as currency in a daily basis. Unfortunatelly it's not possible, being still necessary to make use of fiat for most purchases and payments.
For this reason bitcoin became not only a saving account, but also my main account. If I could I would use only it as currency in a daily basis. Unfortunatelly it's not possible, being still necessary to make use of fiat for most purchases and payments.
Yes, it is not the right thing to buy crypto with all of your savings. It is the most risky action you would take, trust me. It is the best to invest an amount which you won't regret if you lose that money. It is really a good thing to accumulate little by little in time.
"Don't put all your eggs in one basket and don't invest what you can't afford to lose" this is really applicable to newbies out there.
^ The most common advice that I have heard when I was a newbie back then. Dont pull all your eggs in one basket but yet, I am still loyal to BTC and keep holding on to it on my portfolio. In the first place about the BTC, this was created to alternate the fiat as an alternative of payment method, this was never expected that now we think that BTC is good to store in value. But people believe that the most profitable is investing in it and keep it in your wallet and patiently wait until there is your profit. So they forget the real use of BTC. Don't buy now with your money and put it all into it to get rich.
Put a little each month, no matter the price. You would want that for your children and grandchildren.
DCA is the solution for not being able to get swindled when China bans bitcoins again.
No matter how long it takes, it will pay off. You won't lose your home or have to move back into your parents' house
When you put money gradually into Bitcoin, you should remember that the price can change drastically, making it invisible that you've put some money into BTC last time or compensating if you don't put it in. It might not pay off, that's the problem. It's always a risk, and investing each month is a pretty significant commitment and requires a lot of trust in BTC. Also, people are often putting some money into savings, intending to use some of this money within a year or two, and with Bitcoin it might turn out that the money isn't there when the person needs it because the bear market can last for years.Put a little each month, no matter the price. You would want that for your children and grandchildren.
DCA is the solution for not being able to get swindled when China bans bitcoins again.
No matter how long it takes, it will pay off. You won't lose your home or have to move back into your parents' house
Don't buy now with your money and put it all into it to get rich.
Put a little each month, no matter the price. You would want that for your children and grandchildren.
DCA is the solution for not being able to get swindled when China bans bitcoins again.
No matter how long it takes, it will pay off. You won't lose your home or have to move back into your parents' house
When you put money gradually into Bitcoin, you should remember that the price can change drastically, making it invisible that you've put some money into BTC last time or compensating if you don't put it in. It might not pay off, that's the problem. It's always a risk, and investing each month is a pretty significant commitment and requires a lot of trust in BTC. Also, people are often putting some money into savings, intending to use some of this money within a year or two, and with Bitcoin it might turn out that the money isn't there when the person needs it because the bear market can last for years. Put a little each month, no matter the price. You would want that for your children and grandchildren.
DCA is the solution for not being able to get swindled when China bans bitcoins again.
No matter how long it takes, it will pay off. You won't lose your home or have to move back into your parents' house
"Don't put all your eggs in one basket and don't invest what you can't afford to lose" this is really applicable to newbies out there.
I know that most of us are greedy at first because we don't have enough knowledge and experience about bitcoin investment.
We need to keep in mind that bitcoin is not a luck-based investment, that you rely on the things that is happening in your surroundings.
I know that most of us are greedy at first because we don't have enough knowledge and experience about bitcoin investment.
We need to keep in mind that bitcoin is not a luck-based investment, that you rely on the things that is happening in your surroundings.
I've been DCA my wage slave pleb money into bitcoin for 3 years. Still in the green. However Everyone here makes it seem like I'm making a mistakes.
That is called store of value,kinda like gold only here it is better because we are in full control.Also to keep gold in your house is risky and also to keep it in a safe in a bank is somewhat risky as a bank is still a third party for me.With Bitcoin you can keep it in your desktop wallet or hardware wallet and it poses no risks(unless you are not at all tech savvy).You cannot become rich overnight and this is proven now but also it is proven that with patience people who were early investors made a fortune in 2017.Bottom line is keep accumulating it as much as you can.
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Don't buy now with your money and put it all into it to get rich.
Put a little each month, no matter the price. You would want that for your children and grandchildren.
DCA is the solution for not being able to get swindled when China bans bitcoins again.
No matter how long it takes, it will pay off. You won't lose your home or have to move back into your parents' house
Investing in bitcoin needs patience because we can not always make a profit in the short term. I like the idea of investing in bitcoin each month, no matter the price and I already suggested that to some of my friends. But only a few of them follow my suggestion and the rest still underestimate and do not want to invest in bitcoin. We should prepare something for our children and grandchildren, and if they can live better than us, we make sure their future will be bright. We will have something to give to them as a present to manage it for their lives. Put a little each month, no matter the price. You would want that for your children and grandchildren.
DCA is the solution for not being able to get swindled when China bans bitcoins again.
No matter how long it takes, it will pay off. You won't lose your home or have to move back into your parents' house
Don't buy now with your money and put it all into it to get rich.
Put a little each month, no matter the price. You would want that for your children and grandchildren.
DCA is the solution for not being able to get swindled when China bans bitcoins again.
No matter how long it takes, it will pay off. You won't lose your home or have to move back into your parents' house
Put a little each month, no matter the price. You would want that for your children and grandchildren.
DCA is the solution for not being able to get swindled when China bans bitcoins again.
No matter how long it takes, it will pay off. You won't lose your home or have to move back into your parents' house
Yes, if anyone thinks that he will become rich right after investing in bitcoin and crypto, then he is totally wrong. Bitcoin is not a quick rick scheme. If anyone want to become rich over night, he can try luck in gambling. Bitcoin and crypto can give you good return but for that we need to show patience.
Many people end up mistaking bitcoin as a lottery ticket or an entrance to a wealthy life but if they would conduct research about it, they will learn that it does not happen over night. Patience and good strategy is one of the main requirements you need to meet so that you can benefit from your investments in bitcoin. If you are too lazy to consider finding out more about bitcoin, then do not expect too much from it considering that you don't even know how it works. You should always stay updated and knowledgeable so you can make your investments grow.
Agree and i think the point is just spend money you can afford to lose.
I personally keep investing every month, when i got my salary from my daily Job i always spend 70% to buy some alts or BTC.
I personally keep investing every month, when i got my salary from my daily Job i always spend 70% to buy some alts or BTC.
As I read your post I understand where you gonna go with that tips. although it works for some other people, we need to understand that the money we need to put in weekly or monthly is just some small money that we can afford to lose and that depends on which country we are living in. nevertheless, when the price is low, that is one of the indications of doing those things will make you rich in the future when the price will gonna comeback and breaks another ATH again. that will take lots of patience since the market right now is not doing well. only strong perseverance will take you up to that long.
Investing in BTC won't make you rich quickly and there's no guarantee if the profit you'll earn on your BTC is worth it or not. So invest only what you can afford to lose because anytime the market might fall apart and no one knows when it will recover or if BTC will truly hits a new ATH. Don't be a fool and be wise in your investment.
If you wait long enough and the pattern is going to be the same as stock which is always going higher than the previous all time high, I am pretty sure that you will see that your investment is going to make you rich if you have enough money and you waited long enough as @Sanugarid has said, it won't make you rick really quick unless you got really lucky in futures or something in the realm of unbelievable. 
Don't buy now with your money and put it all into it to get rich.
Put a little each month, no matter the price. You would want that for your children and grandchildren.
DCA is the solution for not being able to get swindled when China bans bitcoins again.
No matter how long it takes, it will pay off. You won't lose your home or have to move back into your parents' house
Put a little each month, no matter the price. You would want that for your children and grandchildren.
DCA is the solution for not being able to get swindled when China bans bitcoins again.
No matter how long it takes, it will pay off. You won't lose your home or have to move back into your parents' house
Investing in BTC won't make you rich quickly and there's no guarantee if the profit you'll earn on your BTC is worth it or not. So invest only what you can afford to lose because anytime the market might fall apart and no one knows when it will recover or if BTC will truly hits a new ATH. Don't be a fool and be wise in your investment.
Don't buy now with your money and put it all into it to get rich.
Put a little each month, no matter the price. You would want that for your children and grandchildren.
DCA is the solution for not being able to get swindled when China bans bitcoins again.
No matter how long it takes, it will pay off. You won't lose your home or have to move back into your parents' house
Put a little each month, no matter the price. You would want that for your children and grandchildren.
DCA is the solution for not being able to get swindled when China bans bitcoins again.
No matter how long it takes, it will pay off. You won't lose your home or have to move back into your parents' house
Yeah, we shouldn't see Bitcoin as a lottery ticket. It is a currency in an exchange in the end. We are making investments into it and monitoring the movements. You can benefit from the opportunities when Bitcoin price dumps and buy more.
Don't buy now with your money and put it all into it to get rich.
Put a little each month, no matter the price. You would want that for your children and grandchildren.
DCA is the solution for not being able to get swindled when China bans bitcoins again.
No matter how long it takes, it will pay off. You won't lose your home or have to move back into your parents' house
Why do I feel that many people believe,that the Bitcoin price is guaranteed to hit 500K or 1M USD in the future?There is a chance for the BTC price to reach that amount,but this isn't guaranteed.Put a little each month, no matter the price. You would want that for your children and grandchildren.
DCA is the solution for not being able to get swindled when China bans bitcoins again.
No matter how long it takes, it will pay off. You won't lose your home or have to move back into your parents' house
You you want to become truly rich,just build a successful company or get a high paying job,save more money and diversify your assets.
Investing all your savings in Bitcoin doesn't seem like a smart move,because the price might drop significantly and you might get trapped into the panic selling trap.
I'm not hating on Bitcoin.I'm just saying that proper risk management is always needed.
What you say is true, even if it sounds very painful for some Bitcoin holders. Therefore I never give advice to buy Bitcoin with all the savings
we have, even to the point of selling other assets that we have just to buy Bitcoin. That's not a bad thing, but not the best step to take.
I always advise people to buy Bitcoin with the extra money we have, so if it doesn't turn out as expected it won't be stressful.
We live must always be careful in making decisions and always provide a backup plan, so that we can survive if the main plan fails.
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