There's something I am not getting correctly op, you said you were kid around 2016 and you joined this forum since 2016 correct me if I am wrong. And now you came to asked if you should invest in bitcoin or altcoin after having 55 post in this forum you still don't come across a thread or topics that talks about the best coin to invest and how to manage your risk, including how not to use your live savings to invest in bitcoin?
I haven't posted on this forum since 2017 and what I was posting back then doesn't mean that's what I think as for now. I know that Bitcoin is a good currency but many things have happened since 2016, maybe there are better investment options? Bitcoin has some problems like transaction speed and transaction fees. Can it experience as dramatic price change as it had in 2017? Probably not but who am I to predict, that's why I came here to ask you guys for your opinions. I think you guys know more about it than me.
Migrating to Canada and getting an education was much easier than trying to become a Bitcoin millionaire. You likely would have been scammed out of your hard earned money by Ruja Ignatova of OneCoin or BitConnect or maybe The BitClub Network; even if you avoided those, you would have stuck your coins on an exchange (one that would ultimately lose or steal your coins) and tried to double them by day-trading eventually ending up with sweet fuck all while still living in a shitty country. The odds of you being able to buy enough coin from 2016 and making it to millionaire status today were slim to none. The best investment you made was in yourself - you are now employable and living in a fine country; you should thank your parents over and over again; maybe take them out to a nice dinner in Canada several times per year and hug them often.
The average bitcoin price in 2016 on a weekly closes was ~$US$568 the maximum price bitcoin achieved (weekly interval) was ~US$65,500 so about 115X. Keep that in mind and then think how you could have studied in Newfoundland and Labrador for CA$9,321 in 2016, saved over 50% in tuition fees and put the other 50+% into bitcoin... but no! you chose to study in BC and spend CA$21,700 or in Ontario and spend CA$29,921 on tuition. Either way that would have been CA$12k or CA$20k you could have put into bitcoin which would still have been worth either CA$1.38million or CA$2.3million. I'm just trying to demonstrate that we can all play the hindsight game. The fact is, you had options so don't blame your parents for your perceived failures - own them.
Whatever you plan to do now, you have to be able to invest the money and not think about it again - you can't be worrying about how to pay the rent or buy groceries because you have to live. Set aside a percentage of your income your comfortable with, get yourself some professional investment help (probably not from bitcointalk), stay away from debt - it'll suck you dry. Lather, rise, repeat. Oh, take two jobs - you'll have less time to spend your hard-earned money on frivolous things like 60 Gb internet on your phone, Stray Cat concerts, over-priced Starbuck's drinks or boba teas (make sure you set aside enough of the take-home pay from job#2 to cover your income taxes and DO NOT invest it).
I believe bitcoin could 10X from here but that's just my opinion and opinions are like assholes - everybody's got one. Good luck! Tell your parents xhomerx10 thinks they're awesome.
Thank you for this reply. I still wonder, whether was it a good decision or not. I have some zero point zero X coins on my old Electrum wallet, I do still have seeds safely saved and swore to not touch it until 2030. I think I wouldn't become a victim of scam like BitConnect, I am very cautious an critical but who knows? I think about it repeatedly because if I were to save all the money that I have spent on this study and migration, I would be a millionaire. What kind of job can I get today to pay rent and save up to a million dollar? That's it, probably there is not such a job unless you are a surgeon, psychiatrist, dentist or software engineer and even there, you have to work very hard. The max I can save today is $500 a month.
I don't know how old you or your parents are but I can say that my parents or let's say older generation, doesn't know how the life works today. At past they would get a college degree and good job that was enough to feed family and buy a house but today, I see that money is not made via hard work. I see girls around me who got onlyfans and earn way more compared to me. What do they do? Taking pictures of their nude bodies, having fun in restaurants. Then there are Twitch gamers who play all the time and earn more than what I make in a single year. Then there are kids who catch a good crypto pump and have millions. Yeah, sometimes I feel like stupid and helpless. Also, Canada is not what people think about it. Everyone thinks that it's a great country where people have great life but it's not true. Maybe life is good for locals who have houses but for other people who have to pay rent and so on, life here is nothing special but I am still grateful for this country, it's better than my place and I have more possibilities here, people are friendly and amazing too.
I am really grateful for such a reply, thank you very much.
Thank you absolutely everyone for your replies. I read every post but can't reply to everyone.