Quote from: Furious 7 on May 20, 2023, 07:07:21 PM

Quote from: panganib999 on May 19, 2023, 09:34:20 PM

If profit is what you're looking for, it's really much better by a longshot to invest in bitcoin than to put your money in the bank. There's literally no inflation-proof when you save your money but when you invest it on an asset like bitcoin that appreciates in value consistently, it gives you that power to actually ensure that the money you kept, will remain valuable for a very long time, it may even yield profit which is the best case scenario but in any way, it's still going to yield you a positive result, long as you know your ins and outs and the risks that you are taking when you invest in bitcoin.

I myself started investing in bitcoin back when I was still studying, it wasn't much and I was only ever getting profit from campaigns in this forum, I kept all of it, and from there, things went well for me. Not saying that everyone will be like me let's face it, but my story is a testament to what bitcoin and cryptocurrencies altogether could do for you.

I think in this case it depends on you being in bitcoin itself.
My point is, it's true when it comes to evidence and data currently being in bitcoin that's quite good, but on the other hand we have to be aware that the return that exists for bitcoin is up to us.
When indeed we really believe even though we know the risks of being in bitcoin and keep heading without faltering then indeed it will be very good in bitcoin because when we hold back then the best thing allows for returns and profits. But if indeed we only hope for profits without learning more about bitcoin and expect instant ones then things like that will be slightly different from the results.
There have been many people who really only hoped for something instant and did not study further which eventually collapsed and suffered a loss and that didn't happen to one or two people, but indeed very many because their thinking only focused on instant profits and didn't want to read or learning more about bitcoin itself is precisely what got them stuck.
Being in bitcoin is indeed very good but things like this won't be easy because there are many processes and learning that must be passed as obstacles so when you want to invest here you have to really learn it and not just go along with it just because you want instant profits.

There might be ways to attempt to be more specific in terms of describing various ways that bitcoin accumulators might go wrong in terms of their attempt to get rich quicker than might otherwise be reasonable/feasible, and for sure, one of the distractions could end up being getting involved in various pump and dump shitcoins because they are trying to trade, but if we might attempt to set that shitcoin angle aside for the moment, then maybe we might consider the matter in terms of how much of a monetary float that anyone might need to have in order to be able to invest into anything.. whether bitcoin or any other investment.

Sure people can do whatever they want, but if we are trying to address situations in which people are striving to invest and to build instead of gambling, then frequently there are going to be needs to attempt to be somewhat introspective and also just figuring out several financial and psychological details in order to reach a kind of meaningful and individually tailored balance.

Many times, I have mentioned that if any of us is able to consistently earn such a large enough income that we are able to set aside at least 10% for investing, then we are likely going to continue to make progress, and yeah, there might be some people who really do not have a high enough income to be setting aside 10% because they just do not make enough money to cover all of their expenses and to also have spare money left over for investing, and so if some of those folks start to invest too much of their income into something like bitcoin, then they might end up having to cash out of bitcoin at a time that is not of their own choosing because they do not have their expenses sufficiently covered in terms of whatever liquid saving that they have (and generally speaking fiat is going to tend to be more liquid than bitcoin in terms of being able to transact with it without having too many transaction costs and to be able to transact in a wider variety of ways.. whether it is paying for housing expenses, food, utility costs, communication costs, transportation costs and some of the basics that most people need to ongoingly consider in order to live in the modern world.. or whatever sorts of regular/ongoing activities and interactions that they want to support for themselves).

Essentially, one of the great things about bitcoin is that you can invest with any budget, and you do not necessarily need to be rich in order to be able to figure out goals and to set aside certain parts of your monthly budget to be able to ongoingly, regularly, consistently and aggressively invest into bitcoin, without necessarily overdoing it (or underdoing it).

Quote from: Rabata on Today at 06:46:22 AM

Quote from: Wimex on Today at 04:42:02 AM

Bitcoin is an investment that sooner or later offers good rewards, you just have to be patient and wait for results, it is true that the first investors managed to get the most out of it when this world was in its infancy, but it is still bearing fruit, perhaps a little slower, but still the best option. As for the banks, little by little people are realizing that the currency that circulates legally is much more unstable than even bitcoin itself, inflation is becoming more pronounced in most countries, people are obviously going choose to invest in a currency that is known to continue to increase in value and will not bring them ruin in a few years, but rather profits, so they prefer not to save and leave their money stagnant in the bank so that it loses its value but more well generate more, I am still convinced that at any time this digital currency can be used without problems when governments realize its great utility.

Before investing in Bitcoin one ‍should try to acquire good knowledge about Bitcoin. It is very worthwhile to invest after considering how it performs, its current and future prospects etc. But an advantage here is that those who unknowingly hold Bitcoin for the long term will also be successful.

I doubt that any of us (including beginner investors into bitcoin), need to get all worked up about trying to figure out what bitcoin is before they are able to start to invest.

There are abilities to learn as you go, and one of the best things to do is to get the fuck started, and surely if any of us might be lacking in understanding or certainty, then one of the best things to do is to start with a small investment size, such as $10 per week.. even if we might be able to afford $100 per week, we might start small because we are learning as we go.

When you start to invest into something like bitcoin, you will likely be more inspired to learn about it, rather than waiting around and trying to figure out when to enter and what might be the "perfect" entry point.

There is no "perfect entry point" except to get the fuck started as soon as possible.

Many of us might have heard the saying that the best time to have had started to invest in bitcoin was yesterday, but the second best time to invest into bitcoin is today, and yesterday is no longer an option.

It can take a decently long time to figure out where an how to start to invest into bitcoin, including setting up accounts and figuring out your own finances and even figuring out some thresholds in which you might want to increase the security on various coins that you might have accumulated along the way, so in the beginning, if you are merely buying $10 per week, it is not very much, but then after several months, the amounts start to add up.. and maybe even you start to consider to raise the amount that you are investing from $10 to $100 per week, and then the amounts get even BIGGER, and then maybe if the BTC price goes up (of course, no guarantees), then the amount that you have saved up (or invested) starts to go up even more, and if you might have had started with some kind of an easy (and perhaps not very secure way of holding your coins), the more BTC that you accumulate should start to inspire you more and more to learn about better ways to hold your value.. and perhaps you might have some cold storage wallets and then also you might have some transactional (hot) wallets.. so cold wallets are going to tend to be more secure.. and surely I am not completely against holding some value with third parties and exchanges, but that is likely not a place that most of us should be holding our bitcoin and if we do allow third-parties/exchanges to hold some of our coins, it ultimately should be a relatively small amount of our coins.. perhaps less than 10% of our total coins.. even though in the beginning there might not be as many problems to allow more of our coins to be kept with third parties if we are still learning various bitcoin basics and largely just wanting to get started and get some bitcoin price exposure.

Quote from: Rabata on Today at 06:46:22 AM

The deterioration of the banking sector in the world certainly foreshadows the widespread adoption of Bitcoin. The impact of inflation is increasing day after day and will continue to increase. To get rid of the impact those who can take the right decision at the right time will be able to survive form this bad condition. Moreover, realizing the future and keep their faith in Bitcoin they can be at the top level in terms of success in the transition.

Cannot disagree with you about any of this, and it seems to me that our options are increased if we have abilities to transact in either the bitcoin world and through various traditional fiat systems, and surely if we see that a lot of the fiat systems are not holding their value and there are various risks in the fiat systems, then we don't want to be investing or storing value in those fiat systems, even if they may well be decently acceptable to conduct a decent number of our transactions while the bitcoin systems are still being built out (and likely coming more and more available with the passage of time.. hopefully.. no guarantees, of course.).

Quote from: Etranger on Today at 03:23:31 PM

Quote from: rybako on Today at 08:36:24 AM

Even if you are investing small amount, if you keep investing every month, it will accumulate to a big sum in future. As you are investing every month, the prices will also average out.

This is a very general and non-specific statement, since the future has certain boundaries. It is desirable that they be visible. Moreover, small amount and big sum are very different for different people. Of course, you can set aside "small amounts" every month in the hope that in 50-60 years you will be able to use them, but basically people are motivated by what they can get in the relatively short periods, usually measured up to ten years. After all, you are not only investing your money, but also your time.

For sure, the idea of how much compounding or value increase can happen is interesting Etranger.

If you consider that 6-9 years ago (between late 2013 and early 2017).. any of us might have been able to purchase BTC at various times during that period between $200 and $1,000 depending upon when we bought, so any of the BTC that we might have accumulated during that period may well end up having some kind of an average cost per BTC that falls somewhere between $200 and $1k per BTC.

So then we might look at how the dollar depreciated during that time.. which perhaps in many cases the dollar is less than half as valuable in terms of its purchasing power, and the dollar has likely been amongst the strongest of fiats during the last 6-9 years.

Another possibility might be to look at how a variety of other asset classes (such as equity or gold) and even something like property ownership (residential property or land) might have performed, and maybe some of those various asset classes might have out performed the dollar or even doubled in value as compared to the dollar.. but we can also compare that to what bitcoin did in that same period... so we can see within that range, largely bitcoin is floating around $26k or $27k today, so it would be 26x to 27x better in terms of the worst case scenario of obtaining BTC around $1k per BTC and 5x higher than that (around 100x) if any of us had been able to purchase BTC at the lower end of that late 2013 to early 2017 price range.

Yeah.. there are no guarantees regarding how bitcoin will perform as compared to other asset classes, but it does seem that a lot of asset classes - especially fiat currencies, are having difficulties in terms of holding their value.. and even the likely ongoing best of the fiat currencies seems to not be in a great place in terms of continuing to hold its value.... so it is remains good to consider these kinds of ongoing dynamics when considering where any of us might be wanting to put our time, energies and value in the present as a way to prepare ourselves in the event that we want to hope for some kinds of financial/psychological security and/or hedging.. even if we might believe that we are able to generate cashflow by selling our labor, that might not be enough in order to feel comfortable in the event that the places that we are holding our value are not even retaining value..