Topic: Would you take a psych test to know what your personal risk tolerance is? (Read 32 times)

OP, if you read the thread of Z390 correctly, then you will realize where he said that he still has other land, which shows that he has more than the two acres of land that he sold to invest in Bitcoin. Well, some people in his case would sell all their land or other properties to invest in Bitcoin, which is more risky in the aspect that I am going to summarize below:

1: If you have all your hope on just one investment, what if something goes wrong? What else would you rest your hope on? That means the person can be stranded. Perhaps one could have some sort of emergency that needs you to raise a particular amount of money at an instant, and if Bitcoin is the only investment you have at that moment, you could sell it off so cheaply that you would be at a loss then. Also, if you have all your assets in Bitcoin, what if you get careless any day and you lose your asset? (It doesn't necessarily mean that all that will happen, but we should just think of some possible risks before fully going ahead with a decision.)

If you have two houses or two acres of land, you could sell one to buy your Bitcoin, depending on how overzealous you are about investing in Bitcoin. Perhaps there is even better option than that: you can rent out the house or the land and still use the money to invest in Bitcoin.


Cheers 🥂, Dr.Bitcoin_Strange 👺👺

Today this is user,  Z390 shared their story how they sold one of their land to invest in bitcoin. They did that when bitcoin was about $17k and today bitcoin is $30k +. They are happy.  According to them is was a worthwhile risk. While one user, commented that they "I can not sell my land or property to buy bitcoin. It will make me look like I am risking too much and which could affect me." What I inferred from the two is that one, the land would have still appreciated in value. Land itself is an investment which requires low risk tolerance while bitcoin is a investment that requires high risk tolerance. Not everyone can do what Z390 did. Would you be willing to take a psych test to know what your personal risk tolerance is before "risking it all for bitcoin or not"?
A few of these taking tests I found online didn't address investing in bitcoin in particular but  measures the risk tolerance of the individual. I which there was one adapted to bitcoin investments or investments in general.

If interested, you can take the test here - https://testyourself.psychtests.com/testid/2122