What will you do if bitcoin crash? - page 12.

bitgolden

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Quote from: Sebas.tian on February 20, 2023, 11:33:40 PM

Yes, I will be rich if such happen because right from my day one in Bitcoin investment,I don't invest all my money in decentralized currency based on what people have experienced in the market that made the price of Bitcoin in the market to remain low through the year and some months. Those that invested all their money in Bitcoin at the moment find it difficult to feed that caused their family to loss so many things at that period, because they didn't believe that Bitcoin price can crash in that way. If the crash happen in this season, I will remain rich, because I still have other business that is bringing me money in the environment.

I would suggest to keep that going if you believe that will happen, but you can't get rich from bitcoin going down unless you short it, if you are not shorting it, you can't "get rich" when bitcoin crashes, you need to be rich already.

In this case, you are not saying you are shorting it, which means you can't get rich from such crash, and it's good that you have other incomes, I do not, because I believe that bitcoin is all there is for me and won't be changing anytime in the future for me neither. I will always invest all I have into bitcoin, and if it crashes then I will just keep on working and earning money, and keep buying more from the crashed price.

turneps

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Bitcoin is unlikely to collapse completely, as many people still see the value of this currency, but it is difficult for Bitcoin to rise again at the high price it used to be. If Bitcoin crashes, I probably won't invest any more money in crypto.

Fuso.hp

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People invest in Bitcoin with greater risk based on the fact that people have a little more trust in Bitcoin than other coins. But one should not take so much risk that it takes away the ability to turn around later. I don't see any reason to invest by selling the house. No matter where you invest there is no guarantee that you will earn Hundet percentage, the money you invest will always be at risk so investing in any platform by selling houses is a big mistake.

Sebas.tian

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Yes, I will be rich if such happen because right from my day one in Bitcoin investment,I don't invest all my money in decentralized currency based on what people have experienced in the market that made the price of Bitcoin in the market to remain low through the year and some months. Those that invested all their money in Bitcoin at the moment find it difficult to feed that caused their family to loss so many things at that period, because they didn't believe that Bitcoin price can crash in that way. If the crash happen in this season, I will remain rich, because I still have other business that is bringing me money in the environment.

LogitechMouse

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Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich.

Whether Bitcoin crashes or not, I'm neither poor or rich at all.

I'll just say that I'm at the middle of it. I'm not rich like the businessmen here, or a millionaire, but at the same time, I'm not like the beggars on the street waiting for food to come on their plastic cups that's been place in front of them. I'm still at the middle whether Bitcoin crashes or not. I'm not affected that much because I'm not all in into Bitcoin, and I will not do that. Too risky for a very risky type of investment

Quote from: uche6215 on February 16, 2023, 05:49:30 PM

Most people on the platform have submitted all their life savings to bitcoin investment.

That's the problem with some of the investors right now.

The thing that's on their mind is the fact that they can earn profits in a shorter amount of time compare to some traditional assets out there like the stock market that's why they went all in into Bitcoin not knowing the possible risks that they may face. For sure, there are many investors who lost their money last year because of what happened. I just hope that they're still ok and didn't do any bad decisions and remained patient.

Quote from: uche6215 on February 16, 2023, 05:49:30 PM

There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage.

Too unfortunate for him I guess.

Quote from: uche6215 on February 16, 2023, 05:49:30 PM

So I ask again if bitcoin crashed today what will be your description rich or poor?

Still an Average Joe just sipping a cup of coffee in our terrace. Neither rich nor poor. Cheesy

Popkon6

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Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment.

The mainstay of cryptocurrency is Bitcoin. A lot of people have invested in Bitcoin, including owners of various big organizations and outsiders, including this Bitcoin forum. If this Bitcoin crashes then the only way for billions of people will be death. Normally you'd think that the drop in bitcoin price would have led to thousands of people getting in the way and portfolios getting lighter. If the Bitcoin market crashes, billions of people will commit suicide. People invest 50 to 60 percent of their income in Bitcoin.

If this bitcoin crashes when I say my own, I will surely die. I can never bear to lose my wealth.

Desmong

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Quote from: CageMabok on February 20, 2023, 04:35:34 AM

Quote from: Lubang Bawah on February 19, 2023, 10:19:32 PM

As investors we must always be prepared for any conditions, I have been scammed several times in business or when investing in altcoins, and I think opportunities for crashes from bitcoin or cryptocurrencies can also happen at any time, there are many things that can cause it and if that happens then we shouldn't ever cry, before that happens then do a rethink whether you dare to take risks or not, if you don't dare to take risks then it's better to leave from now on.

Who do you recommend now? Personally, I have never been afraid of the decline that has occurred in Bitcoin because I have a lot of faith in Bitcoin and have even started to ignore any altcoins recently. Risks in investing are commonplace and this is of course understood by every investor before they invest. And to avoid scams, you just need not to trust everyone easily if you want to make an investment safely and comfortably.

If Bitcoin crashes, I will sell my holding and buy it again when the price of Bitcoin come up again. I will keep buying Bitcoin as the market goes down and come up. That is how real traders do there thing. We are in the market to make profits not to watch others on how they are holding there coin. If I buy now I will plan to sell and buy again.

usekevin

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Bitcoin is not the spam or scam coin,it had very huge history over a decade.So people with good knowledge surely keep their holding in bitcoin for long term.Even the new people will choose the stable coin as bitcoin for the investment on safe site.Only draw back in bitcoin is,you need to hold huge to get huge profit.Since the price of bitcoin is very high as compared to the 99 percentage of coin in the market.Actually two years back,the price of the bitcoin had top the market.Few project are launched by targeting the price of bitcoin and earned some customers also.

Mate2237

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OP this is a very good question. But the only thing is that bitcoin will not crash. Bitcoin is not a Ponzi scheme like MMM or your so call BARAZAR, those Ponzi schemes were controlled by people but bitcoin is a decentralized system so to what extent bitcoin will crash? The only bad effect pro bitcoiners will face the flustration of the market or the price. If someone buy or invest on bitcoin at the rate of $67,790 and suddenly bitcoin is reduced to $10,000 for years then the person will lose very well.

That is why you are not to put all your eggs in one pot. But split them to different investment both in physical and legit online business. Don't invest what you can't lose.

justdimin

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Quote from: lienfaye on February 19, 2023, 11:43:52 PM

Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage. So I ask again if bitcoin crashed today what will be your description rich or poor?

If you follow the rule to only invest what you can afford to lose then even the outcome is not good for your investment you will still be fine. Hence, if Bitcoin crash (though I doubt it will happen) it doesn't affect me financially since the money I invested in Bitcoin is the money that I can live without. Moreover, I have other investments to count on, that's the importance of diversifying because even the other failed, I still have other to look forward for the future.

So don't be complacent and always have an alternative plan just incase. Because regardless how good the investment is, don't forget that there's always risk.

I think having an alternative plan is definitely a good idea, but at the same time when you are a long term investor like me, it's not really a must be done type of deal for many people, it just doesn't matter. I am going to hold bitcoin if it is 100k or if it is 100 dollars, all the same for me, and I am going to keep buying it whatever the price is, that's my plan.

When you have a plan like this, you do not really need a backup plan, because this includes every possible outcome, what else could it be? What could happen that is not covered in my plan? I include everything and it should be good enough for everyone to follow and do the same thing if you ask me.

minime0105

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Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage. So I ask again if bitcoin crashed today what will be your description rich or poor?

Bitcoin has made people rich and some don't know what's Bitcoin till today, so if bitcoin Falls today or crash today the people it will affect is the people that i know quit well that feed from Bitcoin investment and Bitcoin business, many people who got rich Bitcoin will not be poor they will divert to another kind of investment that will give them money, some can go for real estate management or landed properties, the people that it will really affect much is the people that started newly for cryptocurrency investment.

xSkylarx

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Quote from: CageMabok on February 20, 2023, 04:35:34 AM

Quote from: Lubang Bawah on February 19, 2023, 10:19:32 PM

As investors we must always be prepared for any conditions, I have been scammed several times in business or when investing in altcoins, and I think opportunities for crashes from bitcoin or cryptocurrencies can also happen at any time, there are many things that can cause it and if that happens then we shouldn't ever cry, before that happens then do a rethink whether you dare to take risks or not, if you don't dare to take risks then it's better to leave from now on.

Who do you recommend now? Personally, I have never been afraid of the decline that has occurred in Bitcoin because I have a lot of faith in Bitcoin and have even started to ignore any altcoins recently. Risks in investing are commonplace and this is of course understood by every investor before they invest. And to avoid scams, you just need not to trust everyone easily if you want to make an investment safely and comfortably.

In investing in Bitcoin, why are you still trusting anyone? I mean, are they involved in your investment? I think not, right? It is only your own will and research if and when or where you will be investing, and no one else is involved in it unless you need some info from those who have experience. I think if anyone is involved with you, it is some sort of Ponzi scheme or HYIP. Investment is really risky, which is why you should always invest what you can afford to lose.

CageMabok

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Quote from: Lubang Bawah on February 19, 2023, 10:19:32 PM

As investors we must always be prepared for any conditions, I have been scammed several times in business or when investing in altcoins, and I think opportunities for crashes from bitcoin or cryptocurrencies can also happen at any time, there are many things that can cause it and if that happens then we shouldn't ever cry, before that happens then do a rethink whether you dare to take risks or not, if you don't dare to take risks then it's better to leave from now on.

Who do you recommend now? Personally, I have never been afraid of the decline that has occurred in Bitcoin because I have a lot of faith in Bitcoin and have even started to ignore any altcoins recently. Risks in investing are commonplace and this is of course understood by every investor before they invest. And to avoid scams, you just need not to trust everyone easily if you want to make an investment safely and comfortably.

Jody.Drummer

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Quote from: Jawhead999 on February 20, 2023, 04:14:44 AM

I will keep buying Bitcoin, I might spend more money to buy during crash because it's the best time to accumulate more Bitcoin. A wise Bitcoin investor wouldn't scared if crash happen, actually they're waiting for this event since they know Bitcoin have a high possibility will recover and reach new ATH. As long as you invest what you can afford to lose, there's nothing should be worried since you still have money to survive for the next few years.

Nice move. As long as it can still be bought and feel confident about the profit it holds for another day then do buy even though there has been enough upside right now and it's at $24k it's still something worth considering especially if the price drops back later.
I'm also doing this and admittedly I'm still not planning to stop until the price is close to $ 28k / $ 30k because I still believe there will be more returns than buying now.
Maybe for some people, waiting is still a good thing, but I don't want to be too bothered by it because I still feel that as long as I can afford it, I will buy it.

Jawhead999

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I will keep buying Bitcoin, I might spend more money to buy during crash because it's the best time to accumulate more Bitcoin. A wise Bitcoin investor wouldn't scared if crash happen, actually they're waiting for this event since they know Bitcoin have a high possibility will recover and reach new ATH. As long as you invest what you can afford to lose, there's nothing should be worried since you still have money to survive for the next few years.

Marvell1

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Quote from: Lubang Bawah on February 19, 2023, 10:19:32 PM

As investors we must always be prepared for any conditions, I have been scammed several times in business or when investing in altcoins, and I think opportunities for crashes from bitcoin or cryptocurrencies can also happen at any time, there are many things that can cause it and if that happens then we shouldn't ever cry, before that happens then do a rethink whether you dare to take risks or not, if you don't dare to take risks then it's better to leave from now on.

Indeed, if you can't take the risk and can't lose that money, it's best not to invest. Not only with bitcoin but all other investments are risky, and the higher the risk, the higher the return. No one knows what bitcoin will look like tomorrow, but since it can be highly profitable, people are willing to take the risk. If bitcoin crash entirely, it will be my biggest regret, but it will never affect my life as I am investing with money ready to lose.

lienfaye

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Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage. So I ask again if bitcoin crashed today what will be your description rich or poor?

If you follow the rule to only invest what you can afford to lose then even the outcome is not good for your investment you will still be fine. Hence, if Bitcoin crash (though I doubt it will happen) it doesn't affect me financially since the money I invested in Bitcoin is the money that I can live without. Moreover, I have other investments to count on, that's the importance of diversifying because even the other failed, I still have other to look forward for the future.

So don't be complacent and always have an alternative plan just incase. Because regardless how good the investment is, don't forget that there's always risk.

Lubang Bawah

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As investors we must always be prepared for any conditions, I have been scammed several times in business or when investing in altcoins, and I think opportunities for crashes from bitcoin or cryptocurrencies can also happen at any time, there are many things that can cause it and if that happens then we shouldn't ever cry, before that happens then do a rethink whether you dare to take risks or not, if you don't dare to take risks then it's better to leave from now on.

Altryist

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Quote from: Findingnemo on February 19, 2023, 01:25:51 PM

Don't put all your eggs in one basket that is the only basic thumb rule when it comes to investment so if someone failed and went bankrupt because of one asset failed completely with their investment knowledge.

Never take risk money which is affordable to lose, for now I diversified my portfolio which importantly consists gold and real estate so if bitcoin fails and went to zero I won't be on the street but as far as my instincts says what you're saying its highly unlikely to happen.

That's right, that's what I'm talking about, you don't have to put all your money into one deal. Divide it into as many directions as possible, buy real estate, open a business, or even better several, buy bitcoin and enjoy life. You need to learn how to earn income from as many sources as possible, then you will never lose. Crises always happen, the black swan can wait for you anywhere, but if you know how to distribute risks, then you can always avoid critical losses.

Findingnemo

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Quote from: uche6215 on February 16, 2023, 05:49:30 PM

If bitcoin crash today, what will be your fate? Poor or rich. Most people on the platform have submitted all their life savings to bitcoin investment. There was once a man in my area who sold his house to invest in a local platform called BARAZAR in 4 months missive the so-called BARAZAR was shoot down and now he does not have a cottage. So I ask again if bitcoin crashed today what will be your description rich or poor?

Don't put all your eggs in one basket that is the only basic thumb rule when it comes to investment so if someone failed and went bankrupt because of one asset failed completely with their investment knowledge.

Never take risk money which is affordable to lose, for now I diversified my portfolio which importantly consists gold and real estate so if bitcoin fails and went to zero I won't be on the street but as far as my instincts says what you're saying its highly unlikely to happen.

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