Word of encouragement for Bitcoin investors

Artem Sereda

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Quote from: stadus on March 13, 2023, 04:56:57 AM

Those who come and have the plan to invest should never think about investing in crypto as a sort of trial and error because I don't want you to lose your money. That is why before to start investing in Bitcoin or altcoins, we have to make sure that we already have enough knowledge about the market. In fact, it was a part of the investment plan, we have to study the nature of the market and all the things needed. A failure to do this will end up losing our money and of course, time.

Better we understand how crypto world, it is possible we commit mistakes but never make this as an excuse to quit unless we really don't have a plan to correct our mistakes.

It seems to me that before investing in cryptocurrency, it is better to try to invest in something else, and get experience. Cryptocurrency has a higher entry threshold.

justdimin

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Quote from: Tony116 on March 22, 2023, 10:34:19 AM

We have 1.2 million banks, and only 3 failed, meaning traditional banking is dying. The 2008 crisis also killed some of America's biggest banks, but the banking industry is still thriving to this day, showing that the banking industry will never die. Do not rush to rejoice when the bank goes bankrupt, it will negatively affect the economy, and we will be the ones affected.

No matter how good Bitcoin is, without a bank, you will have difficulty in life, bitcoin is still not the main currency, you cannot directly use it for daily spending. Bitcoin and banks can coexist, and they benefit us.

I think the fact is that there are banks that have the most money that died. Sure maybe "3" banks failed, but the reality is that how much money has failed? That is the real question and when the number is in tens of billions of dollars, that is something that impacts the world.

Plus, in 2008 when banks seized the houses from people who didn't pay their mortgage, they got the houses and then sold those houses and made a profit, but when they failed to pay their investors or depositors, governments saved them. I think it was fair to just get those banks as governments and either manage them or just sell them, because if I fail to pay for my house and then it gets seized then the bank fails to do its job and should be seized too.

TheGreatPython

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Quote from: Bananington on March 21, 2023, 02:25:05 PM

I think you are advising yourself out loud and hoping at the same time to give advice to someone too. You need to hold and take your advice very seriously because in this keeping of bitcoins there is no certified professional in it. You can be really strong at heart with the determination to keep your bitcoins for as long as possible, but along the way, some series of events, maybe personal or influenced by external demands may break you and make you choose to make sales. These events do not always have to be negative events, some positive events can also make one loosen up a bit in their deterination to keep their bitcoins without using it.

To be honest, as far as I remember, I've always seen it going the opposite way, where the rich gets richer while the poor become needier for even the basic necessities and finds it difficult to provide for their family. The reason for that is probably because we all know that money makes money, so if you have money, you can always start a business and start earning extra money.

On the other hand, if you are poor, you will definitely have no access to such tools and opportunities, so it becomes almost impossible for you to improve your financial condition and become more than what you currently are.

Tony116

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Quote from: Hamza2424 on March 22, 2023, 09:16:29 AM

Quote from: OpenCEX on March 21, 2023, 04:20:00 PM

As we can see from the current situation, the crash of the two largest banks hasn’t had much impact on the crypto market.
And generally speaking, the collapse of banks isn’t the death of crypto, but rather the opposite — traditional banking is dying.

That's well said traditional banking is dying, let me explain one interesting fact there are around 1.2 Million banks in the world and currently, approximately 7.8 Billion population and more than 1.7 Billion Adults have no access to financial services haha that's quite weird. The unbanked adult's data is based on the world Bank's comprehensive findex report.

Bitcoin can do it easily, No account no ID verification, no account management, no paper work just a simple decentralized wallet with seed phrase and private key and you are successfully Banked now, You can access each and every financial service regardless of the Balance History.

We have 1.2 million banks, and only 3 failed, meaning traditional banking is dying. The 2008 crisis also killed some of America's biggest banks, but the banking industry is still thriving to this day, showing that the banking industry will never die. Do not rush to rejoice when the bank goes bankrupt, it will negatively affect the economy, and we will be the ones affected.

No matter how good Bitcoin is, without a bank, you will have difficulty in life, bitcoin is still not the main currency, you cannot directly use it for daily spending. Bitcoin and banks can coexist, and they benefit us.

Yatsan

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What's the need to encourage? That will just be a waste of time. Just let them be. They should learn this technology at the bottom than us spoonfeeding them. Once you shared the benefits, they'd more likely focus only with the profit potential and will not pay much of attention towards the risks involved. There are also instances that you would be the one to be blamed once a market crash occur simply because you encouraged them. You may share your insights but do not waste time proving a point. They would in the first place if they'd be really interested. We simply have to break misconceptions that things are easy in this industry.

Flexystar

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I was and I will be buying when someone is selling. I only sell when it’s an emergency otherwise slowly I’m having proper management of my expenses. So there was time when I used to touch my bitcoin savings but now I already have stable job and can easily survive on it so no need to touch the bitcoin at all.

If an investor is coming to buy bitcoin but leaving soon with small dips and pumps then believe me he isn’t true investor or he never understood what bitcoin is really! Because after seeing people making millions of dollars by just holding bitcoin one could easily upgrade the trust level and power to hold. What motivation is needed despite the fact that we are in a big plan. The plan which is so big that the little FOMO and dips will come and go.

Hamza2424

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Quote from: OpenCEX on March 21, 2023, 04:20:00 PM

As we can see from the current situation, the crash of the two largest banks hasn’t had much impact on the crypto market.
And generally speaking, the collapse of banks isn’t the death of crypto, but rather the opposite — traditional banking is dying.

That's well said traditional banking is dying, let me explain one interesting fact there are around 1.2 Million banks in the world and currently, approximately 7.8 Billion population and more than 1.7 Billion Adults have no access to financial services haha that's quite weird. The unbanked adult's data is based on the world Bank's comprehensive findex report.

Bitcoin can do it easily, No account no ID verification, no account management, no paper work just a simple decentralized wallet with seed phrase and private key and you are successfully Banked now, You can access each and every financial service regardless of the Balance History.

jayce

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Quote from: hannahB4 on March 21, 2023, 02:54:46 PM

The advice will go a long way for new investors who haven't witnessed the turns in bitcoin price because people who had been into bitcoin since 2017 can write a book based on what they have come to see about the volatile nature of bitcoin.

Lol this is a good idea, each of my friends who investing bitcoin have different interesting stories about what they did when bitcoin price dropped and at some point it bounced back. But unfortunately most of them are sad stories and it made them struggling when the crashing. And obviously, the encouragement words wouldn't work on them.

Russlenat

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Quote from: mk4 on March 13, 2023, 04:09:37 AM

If a person needs words of encouragement to be able to hold on to their bitcoin, were they bullish in the first place?

If people are easily scared off their bitcoin holdings, let them sell. I'd gladly buy corn at cheaper prices.

I guess they should be aware about the risks in the first place that hodling bitcoin is never easy. So they should have developed positive mentality and the right mindset before engaging into bitcoin hodling. Otherwise, if they can’t bear the risks, I guess they should not be investing in the first place.

OpenCEX

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As we can see from the current situation, the crash of the two largest banks hasn’t had much impact on the crypto market.
And generally speaking, the collapse of banks isn’t the death of crypto, but rather the opposite — traditional banking is dying.

hannahB4

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The advice will go a long way for new investors who haven't witnessed the turns in bitcoin price because people who had been into bitcoin since 2017 can write a book based on what they have come to see about the volatile nature of bitcoin.

dunfida

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Quote from: Z390 on March 12, 2023, 07:52:18 AM

Have it in mind, Bitcoin doesn't always go down forever, it always passes the test of time.

For those who had been on this market for a while and do knows on how Bitcoin or cryptocurrency behaves in terms of its price or volatility then these fuds and overall sentiments and fundamentals recently wont really be affecting you as an investor or main supporter of Bitcoin but instead you woudl really go even more bullish basing up on banks are currently been fucked up and this would really be boosting up yourself and being that
positive that we would really be heading upwards but of course you should expect the up and down which it is really just normal to be on a market which you shouldnt really make yourself that
too much affected specially if you are aiming for long term.

Bananington

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Quote from: Z390 on March 12, 2023, 07:52:18 AM

It could get to the point where many crypto investors will start giving up on their dreams, the air will be filled with the word 'crypto is dead' and it will feel like it's over for crypto, this SVB issue might be the bringer of that weird feeling into crypto space once again, after the year 2020 collapse, still, I believe that Bitcoin should be everyone's main target, this present hassle in crypto space will once again prove to the world why Bitcoin is truly the people's money.

So my dear friends, do not give up, what is coming can be faith-shaking, be prepared for the worst.

Keep dollar cost averaging.

Your long-term investment should include money that you won't need in the near future.

Have it in mind, Bitcoin doesn't always go down forever, it always passes the test of time.

I think you are advising yourself out loud and hoping at the same time to give advice to someone too. You need to hold and take your advice very seriously because in this keeping of bitcoins there is no certified professional in it. You can be really strong at heart with the determination to keep your bitcoins for as long as possible, but along the way, some series of events, maybe personal or influenced by external demands may break you and make you choose to make sales. These events do not always have to be negative events, some positive events can also make one loosen up a bit in their deterination to keep their bitcoins without using it.

terrific

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I haven't felt the space that you're telling about that people were feeling that it's almost the end and dead for everybody because of the SVB and banks falling in the US.
We've been through FTX, Luna and UST fall off and we've never felt what you're saying but instead, that's driving everyone to be wiser the second time around and forget what has happened.
Although it's not easy for those investors that have completely lost a lot of money from those investments. But, it's not the end of their crypto journey and has made themselves suitable that this is the market that they like, we all like.

Maxre

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Nah bro I do not think so that what you are saying. First thing is that Bitcoin and crypto and also banks system won't fail because there a lot of buyers that will buy crypto at it's cheaper prices and also as you can see that silicon valley bank has been adopted for mere 1 dollars and they have odne so that they can prevent this bank from collapsing etc. And that's why be careful with your money and stay safe.
And also I have seen that crypto investors always feel unsafe and uncomfortable because they are new, experienceless and also there is highest liquidity in crypto that can never be achieve able in any other asset too.

Jabari Wiza

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I think it's understandable for crypto investors to feel discouraged at times, especially when they see the value of their investments fluctuating. However, I do agree that Bitcoin should remain a key focus for long-term investors.

Although the recent SVB issue may have caused some uncertainty in the crypto space, I believe that Bitcoin has a proven track record of resilience. Despite facing setbacks in the past, Bitcoin has always managed to bounce back stronger than ever before.

That being said, it's important for investors to keep in mind that the crypto market can be volatile, and it's crucial to be prepared for the worst.

Dollar cost averaging is a great strategy for managing risk in a volatile market, and it's also important to only invest money that you won't need in the near future. I believe that Bitcoin will continue to prove itself as a reliable store of value and a promising investment opportunity.

BADecker

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Quote from: Z390 on March 12, 2023, 07:52:18 AM

~

Your long-term investment should include money that you won't need in the near future.

~

When you invest in something, like the stock market for example, you put some money in, and let other people do the work... hoping that they will make a profit for you.

With Bitcoin, invest it by using it in your daily life to increase its value by bringing new people into it. In other words, offer your products and services for Bitcoin only, not US dollars.

Cool

lousie9

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Quote from: stadus on March 13, 2023, 04:56:57 AM

Those who come and have the plan to invest should never think about investing in crypto as a sort of trial and error because I don't want you to lose your money.

but I don't think there's anything wrong with trial and error either, for beginners who don't really understand investing in crypto, of course they will try it at first because they don't have a specific goal yet right?.
what's wrong is when investing in crypto but don't want to go deeper and don't set investment goals, but they just follow the trend that is happening.

Quote from: stadus on March 13, 2023, 04:56:57 AM

That is why before to start investing in Bitcoin or altcoins, we have to make sure that we already have enough knowledge about the market. In fact, it was a part of the investment plan, we have to study the nature of the market and all the things needed.

i agree with your opinion, wanting to learn basic knowledge about cryptocurrencies is the most important part for our own success and important capital to support all activities that we will carry out in the crypto world whether it's investing, trading and others.

Quote from: stadus on March 13, 2023, 04:56:57 AM

Better we understand how crypto world, it is possible we commit mistakes but never make this as an excuse to quit unless we really don't have a plan to correct our mistakes.

everyone must have a plan to fix the mistakes or problems they face, but it all depends whether they want or not to overcome the problems they face.

Asiska02

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In general, to earn a lot of money from an investment, you must be willing to wait and go through a series of tests and obstacles; the patient always win in the end.

Having to need an encouragement or booster to keep the hope alive, the hope that bitcoin will bounce back and regain its former strength, is not needed by those who have been in the market for a while now, and even some newbies do not need to be told this, for those who have gone through a series of learning and grasp the entire concept of bitcoin investment.

If you've decided to join for the first time, nothing should deter you from wanting to leave when you don't have a good reason to. People frequently give up due to lack of sufficient knowledge and unprepared mindset of the market trends.

GideonGono

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Just keep in mind that crypto could always drop down and fly high, as a crypto investor you shoul be prepared for those rollercoaster rides.
And I agree with OP long term investment should be done by the money that you don't need in the near future or your extra money.
People tends to be greedy on crypto that they would invest or risk more than they could afford, that is why when things got a bit shaken they are too scared of it and jump off making them lose instead of gaining profit from their investment.

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