Why I've been scared to invest in bitcoin - page 2.

indah rezqi

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Quote from: Nrcewker on February 27, 2023, 11:26:02 PM

Bitcoins aren’t stable coins. If you want a coin that is regulated by a government and always have a fixed value, then go for USDT.

Even USDT fluctuates. Pay attention to the charts and history.

Quote from: Nrcewker on February 27, 2023, 11:26:02 PM

If you still think that the wallets are not user friendly, then it’s sorry to say that your brain hasn’t aged well. So many tutorials are available on the varieties of wallets and moreover these wallets are also trusted.

Some wallets may not be suitable for new user, and you shouldn't blame their complete ignorance in this case. The best wallet for new user, especially Android users, is Electrum. Of course there are many reasons why Electrum is suitable for new user and one of them is the features it has. Full control, fee settings, open source and so on.

Quote from: Nrcewker on February 27, 2023, 11:26:02 PM

Regarding the investment thing, yes all the investments have risks, but you need to calculate it and invest wisely. Invest what you can afford to lose and choose when to cash in and cash out.

I agree. Of course all investments are risky, even bitcoin investments are much riskier when they don't want high price volatility.

livingfree

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On the earliest time of bitcoin, there have been people that were already aware of its existence but due to its infancy, many have feared that their money will be gone upon investing on it since it's still like a testing phase and not yet know.

Those who feared what will happen never invest but those who were willing to take extra mile of their investing journey and just took the risk even if they're aware of those reasons, they pursued.

Now, those that have taken risk are enjoying and even if they sold earlier and not at the peak, they've seen it on a better price and sold it there so no regrets for them. And those that still have fear in their hearts and minds will have hard time moving on and accepting that fact they've missed a lot.

Uruhara

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Quote from: crunck on February 27, 2023, 05:55:29 AM

Volatility is the main reason people invest in bitcoin, if bitcoin ceases to be volatile, a lot of people will leave bitcoin. If you cannot bear the risk and volatility of bitcoin, you should not invest in bitcoin. No one is forcing you to invest in it, you need bticoin, but bitcoin doesn't need you, so it won't need to change just for you.

so true. it is precisely this price volatility that also makes many people interested in entering and investing in bitcoin. because there is no point in investing in something that is stable or there is no increase and decrease in price flows. because we do enter when the price is declining (bearish market) and we are waiting for the market trend to become more positive and increase to make a profit (bullish market).

So that volatility is certainly a common thing that always exists in every investment area. something stable is only suitable for use as a place to save or to hedge our assets. but the reality is hard to find something stable. even gold continues to fluctuate over time.

Franctoshi

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Volatility is the fun in trading or investing in Bitcoin, hence it won't become this attractive to investors. Bitcoin being such volatile isn't a problem, if you can study Bitcoin's behavior you will be able to understand how to go about investing in Bitcoin and wouldn't be afraid anymore because of its Volatility. What you need is Bitcoin education , get more information about Bitcoin and stomach the volatility you will no longer get bothered.

borovichok

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Quote from: xSkylarx on February 28, 2023, 07:03:05 AM

Volatility is one of the characteristics of Bitcoin that people loved. The possibility that the price will stabilize is very low in the future. Most people prefer volatility because it allows them to profit quickly and easily. Now, regarding the fact that you are scared of investing in it, as is natural for a newbie, as time goes by and you learn more about bitcoin, you'll overcome it, but keep in mind that when it comes to investment, it has a lot of risk, and if you don't take the risk, you won't get any profit. Imagine that by taking a risk, there is a chance that you could get rich, rather than not taking a risk and just staying in your comfort zone.

Every trader has a preferred market season; some definitely recommend the bull market, while others prefer the bear market. The truth about the market is that both gains and losses are incurred there. The fundamental factor that separates the wealthy from the poor is risk. For instance, beginners lack the skills essential to engage in the volatile market because they don't want to lose money; instead, it is imperative to risk all of one's cryptocurrency in order to earn significantly from the market. Another factor that has prevented most traders from succeeding is fear. Even seasoned traders fear the market's volatility, which causes most of them to miss out on profitable market opportunities, particularly during the bear season.

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Quote from: Victorybit1 on February 26, 2023, 04:11:36 PM

I know volatility is a natural thing that can happen to any investment. However, it will be good to address this issue because from where I come from people are scared of investing in bitcoin, they feel its risky.

People have worked hard to earn their money, it is natural for them to feel scared of the risk involved. There are measures to minimize the risk if you are willing to, like patiently waiting for the low price to be reached as per charts and then buying instead of going in at any price you see. Then observing what your local laws are regarding crypto. Learning how crypto related scams work so you know devise ways to avoid them.

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Personally, I feel there should be an increased regulatory body which will help people like me not to be scared.

This will take time to happen, it has been in talks internationally. It is a wild west but people are working to make money form it.

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There should be an improvement in bitcoin infrastructure, some of these wallet aren't even user friendly and also, there should a transparency in the market. I'm still learning about the best wallet to use as a newbie though.

The infrastructure is good enough for daily necessities, I dont see others complain about the same. Try the different wallets available on desktop and android and see which one fits you. I personally found Electrum to be useful on desktop.

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My question is this, is it possible for bitcoin to be completely immune to volatility in years to come?

Is gold not volatile after so many years? Similarly no asset that has a speculative market is ever going to be volatile. Same with property, stocks and so on. Lack of volatility kills the rush for the investors. Cheesy

ethereumhunter

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Quote from: Victorybit1 on February 26, 2023, 04:11:36 PM

I know volatility is a natural thing that can happen to any investment. However, it will be good to address this issue because from where I come from people are scared of investing in bitcoin, they feel its risky. Personally, I feel there should be an increased regulatory body which will help people like me not to be scared. There should be an improvement in bitcoin infrastructure, some of these wallet aren't even user friendly and also, there should a transparency in the market. I'm still learning about the best wallet to use as a newbie though.

My question is this, is it possible for bitcoin to be completely immune to volatility in years to come?

Volatility in bitcoin will always be like this and cannot be predicted by everyone because that is the characteristic of bitcoin itself. As long as we know how to deal with and adapt to that volatility, I don't think we need to be afraid and worried because we can certainly adjust ourselves in the face of that volatility.

My advice is that you read more about investing in bitcoin so you can see that investing in bitcoin is less of a worry. Only people who know how to invest in bitcoins can benefit and get rid of that fear. So you should start learning more to understand more about investing in bitcoin.

juhobtc

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Quote from: Victorybit1 on February 26, 2023, 04:11:36 PM

My question is this, is it possible for bitcoin to be completely immune to volatility in years to come?

look at the entire history of bitcoin since the early days and the answer will be obvious to you. Bitcoin has always been a very volatile asset, don't expect anything to change any time soon. Volatility is what attracts many to the crypto market, volatility is still a good opportunity to make money.

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Quote from: Victorybit1 on February 26, 2023, 04:11:36 PM

I know volatility is a natural thing that can happen to any investment. However, it will be good to address this issue because from where I come from people are scared of investing in bitcoin, they feel its risky. Personally, I feel there should be an increased regulatory body which will help people like me not to be scared. There should be an improvement in bitcoin infrastructure, some of these wallet aren't even user friendly and also, there should a transparency in the market. I'm still learning about the best wallet to use as a newbie though.

My question is this, is it possible for bitcoin to be completely immune to volatility in years to come?

I'm not going to make you too sure or doubt about Bitcoin. Invest or not it's up to you. As for the question, it seems that Bitcoin must follow individual wishes, so it is better for you to accumulate fiat in an account and when inflation and crises all return to zero.

Quote from: satoshi on July 28, 2010, 09:00:38 PM

If you don't believe me or don't get it, I don't have time to try to convince you, sorry

xSkylarx

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Volatility is one of the characteristics of Bitcoin that people loved. The possibility that the price will stabilize is very low in the future. Most people prefer volatility because it allows them to profit quickly and easily. Now, regarding the fact that you are scared of investing in it, as is natural for a newbie, as time goes by and you learn more about bitcoin, you'll overcome it, but keep in mind that when it comes to investment, it has a lot of risk, and if you don't take the risk, you won't get any profit. Imagine that by taking a risk, there is a chance that you could get rich, rather than not taking a risk and just staying in your comfort zone.

Luzin

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Quote from: bakasabo on February 28, 2023, 03:05:56 AM

I think OP does not clearly understand what investing is. Investment does not mean that after a period of time you get more than you had. Investment does not always mean positive outcome. There is no safe strategy when your money with time increases while you do nothing. Even bank savings, term deposits are risky, because banks can go bankrupt. In general investment as a such is not what scares OP, he is worried more about being impatient. He wants today, to see the results of the future.

Actually if the OP is afraid of investment then never do that. Indeed, Bitcoin and other crypto assets have very volatile movements. But from that instability results in a lot of gains and losses. But not a crypto, even stocks are like that. No one knows how the future will happen, but we can try by doing our best to avoid what we fear will happen. It is true that you say all investments are risky, even assets in the form of land or gold or other property have different risks. But sometimes people who dare to take risks will have a better fate than just silently hoping for a salary from work.

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Quote from: Victorybit1 on February 26, 2023, 04:11:36 PM

I know volatility is a natural thing that can happen to any investment. However, it will be good to address this issue because from where I come from people are scared of investing in bitcoin, they feel its risky. Personally, I feel there should be an increased regulatory body which will help people like me not to be scared. There should be an improvement in bitcoin infrastructure, some of these wallet aren't even user friendly and also, there should a transparency in the market. I'm still learning about the best wallet to use as a newbie though.

My question is this, is it possible for bitcoin to be completely immune to volatility in years to come?

Why I have been scared to invest in anywhere

A friend of mine decided to invest in real estate because he was so sure that the business will not result to losses of capital
He told me that real estate does not depreciate and there is not much risk in it. And that is correct to the best of my knowledge about real estate.

After he assembled his money, a group of real estate agents went to a Virgin land that lead to nowhere and cleared the bush with sophisticated machines with the promise that government is coming to develop that area.
And led people to buy lands in that area at very expensive prices after purchasing the land the sophisticated machines were moved out and till date that place leads to nowhere and does not appreciate.

No place 100% safe.

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Quote from: CageMabok on February 27, 2023, 11:03:48 PM

Even though this world is full of other investment options, trying to invest in Bitcoin after understanding the risks is something that everyone deserves to do. Because while there are some people who have said Bitcoin is a good asset to invest in, it is only natural that there are more people who want to try it by investing some money in Bitcoin.

But that doesn't mean that other investment choices aren't suitable for everyone at this time, because as long as other investments can be very profitable in the future with a level of risk that isn't too high. I also think it's not wrong to run several investments in different spaces in the same year with better financial management of course.

It's just that the difference between how much you could make from bitcoin and the profits you could make from any other investment doesn't even come close to each other.

It's obvious that people are still not aware of how much money they could make with bitcoin, because it is at least as trustworthy as some blue chip big stocks, but it is also possible to make x5 with it in a year or two as well which those stocks can't provide you with, plus you could buy stuff with it that you can't do with stocks, you can't go to a movie and pay with your tesla stock, but if they take bitcoin then you could pay with that. All these combined makes it the best investment ever.

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I think OP does not clearly understand what investing is. Investment does not mean that after a period of time you get more than you had. Investment does not always mean positive outcome. There is no safe strategy when your money with time increases while you do nothing. Even bank savings, term deposits are risky, because banks can go bankrupt. In general investment as a such is not what scares OP, he is worried more about being impatient. He wants today, to see the results of the future.

Nrcewker

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Bitcoins aren’t stable coins. If you want a coin that is regulated by a government and always have a fixed value, then go for USDT. If you still think that the wallets are not user friendly, then it’s sorry to say that your brain hasn’t aged well. So many tutorials are available on the varieties of wallets and moreover these wallets are also trusted. Regarding the investment thing, yes all the investments have risks, but you need to calculate it and invest wisely. Invest what you can afford to lose and choose when to cash in and cash out.

Strongkored

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Quote from: Victorybit1 on February 26, 2023, 04:11:36 PM

I know volatility is a natural thing that can happen to any investment. However, it will be good to address this issue because from where I come from people are scared of investing in bitcoin, they feel its risky. Personally, I feel there should be an increased regulatory body which will help people like me not to be scared. There should be an improvement in bitcoin infrastructure, some of these wallet aren't even user friendly and also, there should a transparency in the market. I'm still learning about the best wallet to use as a newbie though.

My question is this, is it possible for bitcoin to be completely immune to volatility in years to come?

Please learn the history of Bitcoin price movements to be able to reduce your fear and also the risk of investment is a reasonable thing without risk you will not be able to profitable, therefore you have to learn how to invest that suits you and also only invest with the money you can afford to lose and no one forces you to invest in Bitcoin so you have to do it by knowing everything correctly

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Quote from: Victorybit1 on February 26, 2023, 04:11:36 PM

I know volatility is a natural thing that can happen to any investment. However, it will be good to address this issue because from where I come from people are scared of investing in bitcoin, they feel its risky. Personally, I feel there should be an increased regulatory body which will help people like me not to be scared. There should be an improvement in bitcoin infrastructure, some of these wallet aren't even user friendly and also, there should a transparency in the market. I'm still learning about the best wallet to use as a newbie though.

My question is this, is it possible for bitcoin to be completely immune to volatility in years to come?

This is not possible, even fiat currencies which are heavily regulated can suffer from high volatility and high inflation as well, so it is to be expected that the volatility in the bitcoin market is even higher.

And you must understand that we cannot cater to everyone, right now people complain about the high volatility of bitcoin, but I can assure you that if by some miracle bitcoin became perfectly stable those very same people will now complain about it and will ask for a higher level of volatility, and for this reason I do not think anything should be done to change the nature of bitcoin and the high volatility it can go through.

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Quote from: heslylamba on February 27, 2023, 02:09:01 PM

Bitcoin is decentralized. That's what makes it so special to some and so frightening to others.

I think the best advice for those who are afraid to invest their money in Bitcoin is simply not to invest. Our world is full of other investment options.

Even though this world is full of other investment options, trying to invest in Bitcoin after understanding the risks is something that everyone deserves to do. Because while there are some people who have said Bitcoin is a good asset to invest in, it is only natural that there are more people who want to try it by investing some money in Bitcoin.

But that doesn't mean that other investment choices aren't suitable for everyone at this time, because as long as other investments can be very profitable in the future with a level of risk that isn't too high. I also think it's not wrong to run several investments in different spaces in the same year with better financial management of course.

YUriy1991

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Yes, There are many things we don't know. Right now the general sentiment is that it's going to be very volatile, but what if it becomes less volatile? I was just hoping to raise someone's interest in the subject and think about how much we don't know about this technology. It could come back down tomorrow or it could keep going up for years. Maybe everyone here also shares the same hope that people will be more informed when they decide either way.

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Quote from: Plaguedeath on February 27, 2023, 02:42:27 AM

If you scared with volatility, it's better for you to invest in stock or gold because they're more regulated and less volatile. If you still scared, investing isn't for you and you can stick with fiat where the value always decrease for every year Roll Eyes

Bitcoin is 100% transparent, any address, transaction, balance, etc are recorded on public blockchain where anyone can check it through Bitcoin explorer. It's better for you to understand about Bitcoin rather than having a wrong mindset to Bitcoin. Don't quickly jump to invest in Bitcoin, when the price is decrease you will say Bitcoin is scam.

True. If OP is scared about bitcoin and don't really like it on its essence, it's better that he just avoid investing in bitcoin, going for something regulated and endorsed by the regulatory bodies. Maybe fixed income and saving accounts' investments fit OP's preferences better, although in no way he going to have access to the same potential profit he could make with bitcoin.

But that is understandable. Bitcoin's environment is very volatile and dangerous for investors who can't afford risks.

Topic: Why I've been scared to invest in bitcoin - page 2. (Read 437 times)