Topic: What should be my fear? (Read 960 times)

As newbie that have much interest in these forum my own advice to you is do not live your assets in online wallet because of what's happening now we don't really know the trusted wallet for now, but they're trusted wallet like ImToken but I didn't advice you to rely and depend on them once you have your little assets you transfer them to your bank.
Secondly know much on how to invest on bitcoin don't invest on bitcoin anytime sometimes it may rise and sometimes it may fall

Fear is a natural emotion that everyone experiences in life. While it can be used to motivate us and push us to take action, too much fear can lead to paralysis and limit our potential. It’s important to understand what types of fear are healthy and productive so you can use them in your favor, while avoiding the unhealthy kinds of fear that impede progress.

One common fear many people face today is the fear of uncertainty. With economic volatility and rapid technological advancements, it’s natural for people to feel unsure about their future prospects. The best way to address this kind of worry is by understanding the trends that are shaping our world today and preparing yourself with information on how those changes will affect you directly or generally in society at large.   

For example, one major disruptive technology that’s gaining ground lately is cryptocurrency (e.g. Bitcoin). As its usage increases around the world, understanding its basic principles and implications for different industries can help you make informed decisions about whether or not this trend could benefit you financially or professionally down the line. Doing research on cryptocurrencies before they become more mainstream means staying ahead of potential opportunities – something that anyone should consider as a part of their overall budgeting strategy as well as long-term planning process within their career trajectory!

You don’t need to be afraid at this stage, all you need is to understand Bitcoin as much as possible, then calculate your investment ratio and short-term planning, and hold it for a long time. No more advice, hope your bitcoin journey goes well.

You don't need to get a big capital before you start buying Bitcoin.  You can Bitcoin as low as the amount you can afford,  buying Bitcoin in fraction is the easiest way to acquire bitcoin.  If you wait to buy the exact big amount you want, you may keep wishing to buy and never buy at last.
It is adviceable for you to get knowledge and understand bitcoin first before going ahead to invest, you need to understand bitcoin market and the risk so that you can invest in peace when the market goes down,  by then you already understand the market and you don't have any panic to fear to sell at lose.

If you buy Bitcoin for investment purposes, then you don't need to be afraid, and what else do you say that buying Bitcoin money is money outside of your household shopping needs, in my opinion the right decision to buy at 16k is very right, so you don't need to  worry about your purchase, because we are at the end of the 4 year cycle, in my opinion you just have to wait for the movement of Bitcoin to the price of 60k, the rest is your business.

I'm only giving advice, it all comes back to your decision, as the holder..

That's good to hear. You don't need to worry regarding your investment in Bitcoin, especially that you have a plan for a long term hold. That means, you're not gonna be bothered with ups and downs of the price movements as you, for sure have set your own target. In fact, for the long term hodlers, it is always an opportunity to buy when they see the market is suffering from a sharp decline.
However, another things to be afraid of when you do have Btc already is, when you use a certain platform that let it holds your Btcs, you'll never know, they might gonna steal your asset right in front of you. So, you better have to make a research as well on how to secure your Btc and where to store it safely.

Your fear may be the same as all of us here, namely the fear of a further decline in prices after making a purchase, but that is just a risk that is difficult to avoid, but despite all the risks that exist, I think you are doing right now is right by buying bitcoin at the price is relatively cheap ($16K) so it can be said that you have now made a small profit today (today bitcoin rate is $17.8K) and of course it is the fruit of your courage to take risks.

When someone do make out some words or post without clarifying then us readers or the community would be just basically be able to point out on what he do mean about fear.
There's no other way around on what people should fear but only on the fear on where the price would be going if he's basically been using up the funds which is really not that he needs or something
do talks about savings which i would say that you wont really be bothered or fearing much if ever it would really be still negative. Honestly, the current price we do have now is really that something
considerable to get in or  something we could really say that it would really be just fine nor considerable on getting in or making some buys as of this time.

Your greatest fear at this moment should be keeping your money safe in crypto. Buying BTC any moment gives you the license to be called a Bitcoiner, but to become a complete geek in this field, you must follow a few things before you can say that everything is perfect for you.

First things first, create a new wallet, Electrum and Mycelium are 2 of the industry's best, you can also go for Ledger or Trezor but you'll then need to go deeper in learning how to use it before storing your coins there. Don't worry, they provide great help to you when it comes to letting you understand how to use their hardware wallets.

Now, don't share your mnemonic phrase/passphrase/seed with anyone. It can be between a 12 and 24 word password kinda phrase that helps you retrieve your account if you anyhow lose control of your wallet on your current device. Never ever share it with anyone.

And the last stage, buy BTC. You got all the options from a credit card purchase to buying it through gift cards and even you can deposit USD on exchanges like Binance and then buy BTC with it over there. But, do not keep your funds at any exchange, be it Binance because what happened with FTX was a great example of where you should store your coins at. If you follow these simple steps, you should never be scared of anything because price is going to fluctuate but that's a completely different story and if you're gonna hodl for longer, please keep your money safe with yourself and under your own monitoring.

That is a very nice observation from you. The person that created the topic did not say that he was afraid to lose his money. He just said that he is willing to invest in a long time that what will be his fear? Maybe he had fears of losing his money in his mind but did not share it with us.
Saying that he did not read through the threads is not good because it is making him a liar and there is no rule that says that he must write what he understood for you to believe that he has read through

You never said you were afraid of losing your funds as you asked what you should be scared of. And I highly doubt that you took any time to read any comment from members here. I wish you would enlighten me on some of the knowledge you got from that time you took out to read and make few research on bitcoin investment.

The fear would be lessen if you have knowledge on what we investing. If you have confidence on what you are doing since you learn it , gather resources online and also experience it in previous then fear is not the problem its your decision if it is right or wrong. Yes a lot of videos and other learning materials online but without willingness to find,read and watch it , it is still useless. Though you are right it is difficult to learn but that is for your own good and also motivate your self in learning so that you will continue it on daily basis.

People don't want to learn from experience other people, only if we make mistakes, we understand the essence and get a chance to gain experience. There are many videos and materials that are very good, but in fact it is not so easy to educate yourself. And there will always be fears, it is normal to doubt, but if we understand what we are doing, then the result is only a matter of time.

As of lately investing in Bitcoin is quite suitable. Many people waste time investing in Bitcoin thinking of losing. But the reality is different. I think losing your investment in Bitcoin is quite difficult, unless you are harming it in some other way. If you keep your bitcoins in a hardware wallet that would be the safest place. I think investing in bitcoins is not going to be wasted other than being stolen. A fear of many is acting out

Can the price drop? Of course, it is volatile so its price can go down or up.

That is why it is said that one should not invest more than one can afford to lose. Bitcoin can always drop - but over the long term - I recommend four years, minimum - it has always trended upwards, and often significantly. If investment is encouraged keeping these factors in mind, there will be nothing to fear. You can also invest accordingly by thinking better through your research.

bitcoin and crypto profit its like a game of "doing nothing for the most time" your fear should be exchanges trying to convince you 24 hours a day to not go to self-custody path,ignore them and be risk aware.

Thanks all for your kind response and contributions I  appreciate you all and am delighted to let you all know that I no longer have the fear of losing my fund again because I have taken my time to read and make few research as to enable me gain more knowledge on Bitcoin investment.

Well said. There is no short cut to experience and wisdom grows when we experience difficulties, and our fear of failure goes away. We all learn lessons from our failures and move on. When you step in trading and investment field, fear of loss is natural, but we can avert it by taking advice from experienced peoples and nowadays lot of material is available on internet to make technical and fundamental analysis of crypto assets which can help us to take right decision.

He can listen to our advice anyway but it's up to OP if he will follow or not. But putting a position as a newbie, fear can really be what we feel and it was normal. Having an experience could change a lot and could also influence the way we think in the future and the way we respond to the market. We have to conquer our fear as this would be a reason for our failure, take the risk and have some experience. We may lose money from trying but it somehow also gives us some idea of how to interact with the volatility of the market.

For us who have witnessed collapse, and experienced intense bear seasons can say that what is happening now is a regular thing. But for OP, a newbie would be hard to bear despite hearing a lot about crashes, and history shows bitcoin will recover once the bear season is over. The best way for him to overcome those things is for him to experience it first-hand, no advice is as effective as a real experience. So I will agree with you, advise OP to invest with money he can lose.

You should have no concerns as long as you are only investing in Bitcoin.
There is a bright future for Bitcoin, and given how low the price has fallen in comparison to its all-time high, there is hope that it will rise above its all-time high before, during, or after the Bitcoin halving in 2024. This means you have nothing to fear, and now may be the time to invest in Bitcoin.
However, do not borrow money to invest in Bitcoin; instead, invest only what you can afford to lose.