Post
Topic
Board Economics
Re: What are some financial secrets that you know of?
by
SmartGold01
on 28/07/2023, 21:35:39 UTC
[edited out]
The age matters a lot. I can tell from the people that I talk to, the younger they are the more they are willing to take a gamble in crypto and also the less they are willing to put serious effort into learning about it.

Fuck shitcoins.

Learn about bitcoin first, and if you still want to play around with shitcoins, after you learn about bitcoin and after you have already established your bitcoin stake, then surely make sure that you do not overdo your allocation into shitcoins and realize that you are gambling a lot with them... and bitcoin is already risky enough and shitcoins are correlated to bitcoin, so starting with bitcoin first and building up a bitcoin portfolio first would make sense also in terms of attempting to avoid having shitcoins dilute your bitcoin investment.

You are absolutely correctly sir!
But most time or do call it sometimes there are people who loves immediate profits without having to study about bitcoin first having the mindset that they could make more by either buying and holding altcoin or by just buy and stake their altcoin without knowing that they all depends on bitcoin for a faster growth. That is, without bitcoin having to move in percentage respect to price changes there isn't a way altcoin would swim very faster to give them the expected profits needed to make from it.

Altcoin as said are just waste of investment or lemme call it gamble as you do say because most of them hardly survived the bear whenever the market seems very heavy for those shitcoin to scale through what they does is to pause and remains stagnant meaning at this point the investors or projects owners has removed liquidity from those shitcoin and before you could realized the balance instantaneously turns to zero amount, in returns for making a quest to diversify ones investment without knowing they are indirectly or directly involving themselves with gambling.

Apparently bitcoin should be studied very carefully before one could take a final decision to venture into it otherwise due to the volatility level might end being failed up with price manipulation over the time. So what needed is to devote time and study about bitcoin and give it a maximum of 4 years at least to meet up with its circle, meaning for one to enjoy the increase in bitcoin and fast growing also for profits purpose they most hold to meet the halving when the price spike to meet another ATH then they may decides to sell off their holdings if actually investor decides to sell.