Quote from: Ryu_Ar1 on Today at 06:47:22 AM

Quote from: TheGhostMan on July 21, 2023, 11:42:09 PM

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IMO in conditions like this you just have to focus on what you are aiming for is actually very good in my opinion.
We have our own goals in this case even if what you say is right but it doesn't mean it will be right for other people so in this case focusing on what you want to achieve is something that is actually good for you.
To say invest what you can afford to lose actually I don't really agree with phrases like this. indeed I know that bitcoin has risks but I am here and investing in bitcoin not to lose the investment I made and it is supported by some learning and how bitcoin progresses so I don't want to lose the money I invested.

It seems to me that the expression, "don't invest more than you can afford to lose" has at least a couple of angles.

First, you have to realize that any investment, no matter what (including bitcoin) has a potential to either go to zero or to spiral downwardly in value. Of course, many of us have concluded that bitcoin's investment thesis is quite strong and so in that regard, it has pretty damned good odds of gravitating in the upward direction with the passage of time, even though there might be a lot of volatility along the way and even extended periods of negative price performance. So yeah.. no one wants to lose money in any investment that they take, but if you are not accepting the fact that either your investment could spiral downward, go to zero or fail/refuse to go up within the time period of your investment, then perhaps you have invested too much into such investment (in this case bitcoin).

Second, another aspect of "not investing more than you can afford to lose" has to do with managing your short-to-medium cashflows and your emotions. So for sure you need to be budgeting your investment into bitcoin in such a way that you do not overdo it and you have enough money to cover all of your monthly expenses - including being able to cover such monthly expenses for very long periods of time without having to rely upon bitcoin - or having to cash out of some of it at such a time that is not of your choosing (which could well be at times when the BTC price has gone down or is in low periods). Of course if you are greatly in profits, then it might not even matter if the BTC price dips greatly and for extended periods of time, because you are still in profits even if you end up cashing out some BTC (on a kind of as needed rather than panic basis) to cover expenses. So surely, the emotional component can affect you the more that your finances end up being stressed.

I think that it is an important concept to keep in mind.. "don't invest more than you can afford to lose" .. even if many of us consider the investment thesis of bitcoin to be quite strong, including the likelihood of it spiraling down or going to zero to be quite low, as well. Bitcoin is likely the best asymmetric bet that anyone has available in current times, so even though that may well signal that it is acceptable to be decently aggressive in your investment approach into bitcoin, it still does not protect anyone from either overdoing their aggressiveness and recking themselves or that some circumstance could come about or happen that negates the strength of bitcoin's currently strong investment thesis and in those kinds of scenarios any of us who are mostly invested in bitcoin lose money including that if bitcoin is cascading to zero, there might not be any ways to get out or to be able to recover the value of your investment, and any of us should be prepared for those kinds of scenarios, even if we might consider them to be low probabilities, they are not zero probability outcomes.

Quote from: Ryu_Ar1 on Today at 06:47:22 AM

Bitcoin is something that is very good and worth investing in so I don't want to miss something like this and when you feel that losing your money doesn't matter then indirectly this becomes less meaningful in your process because you feel it doesn't matter if we lose because we have tried. but my concept, I prefer to try my best and don't want to lose what I invested here because I don't think this will get lost and lost if we do it the right way.

You seem to be thinking about the idea of "don't invest more than you can afford to lose" in the wrong way, and surely any of us could end up losing, even if we do the right thing... Sure, losing might be a low probability event, but it is a non-zero scenario, and if you are failing/refusing to account for that, then you are likely not allocated and/or diversified properly.

Don't get me wrong. I do not agree with the concept of diversifying for the mere sake of diversification, and surely I don't believe that fucking around with shitcoins is actually sufficient diversification, since they are all dependent upon bitcoin's performance... but if you start to acquire a lot of bitcoin, and let's say 2-5 years of your annual income is in bitcoin, and you don't have any other investments, you might well start to consider that you are not sufficiently hedged for the possibility that your bitcoin investment might go to zero. Sure, the younger that you are, then maybe the longer timeline that you have to build your investment, so part of the reason that young people can afford to be more risky than older people because if you are getting to be in your late 40s or older, you are not going to be able to tolerate losing everything as much as someone in their early to late 20s.

Surely, I have been an advocate for concentrating your investment in your earlier years, while you are building your investment portfolio, but once your investment portfolio gets to a certain size, there is a need to protect against the going to zero scenarios of any of the assets contained within your investment portfolio, even if you consider those going to zero scenarios to be quite low.