Quote from: SmartGold01 on July 28, 2023, 09:35:39 PM

Quote from: JayJuanGee on July 28, 2023, 05:43:16 PM

Quote from: temple on July 27, 2023, 05:47:29 PM

Quote from: JayJuanGee on July 26, 2023, 09:32:04 PM

[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.

Of course, it does not hurt to spend some time studying the basics in regards to what bitcoin, is but one of the more important things to do is to figure out how to get started investing into bitcoin as soon as possible, so don't delay by researching, but instead start investing right away with a small amount of value (perhaps $10 per week or perhaps $100 per week or some other amount that you deem to be relatively small and reasonable), and while you are starting to invest, then start to spend time learning about yourself and your own budget and how to make sure that you are investing properly and that you are not gambling with your income.

Let's say for example, you have not been investing into bitcoin, but you have been working for 10 years, an you have an income of about $40k per year, and your investment portfolio is around $60k. If you have already built an investment portfolio then it will be easier to figure out how much of an allocation that you want to put into bitcoin and whether you want to attempt to reach your bitcoin allocation quickly or if you might take 1-2 years to bring the bitcoin portion of your investment into proper allocation, and while you are investing into bitcoin, you can also study it.

Now if you are brand new to investing, and you have no investment portfolio, if you have an annual income of $20k to $40k (let's say $30k for the sake of argument) , you can try to determine how much you are able to spare from your cashflow in order to start to invest into bitcoin, and with a $30k income you should be able to reasonably invest close to $100 per week,.. but that might be too aggressive, since it would result in about 17% of your annual salary going into bitcoin ($5,200 after a year), so you might want to study to figure out if you are able to be that aggressive in your investment into bitcoin, so instead of $100 per week, you might start with $50 per week and while at the same time study bitcoin and figure out other aspects of your own finances and psychology - including potentially figuring out how much that you might need to pay off any other debts that you might have or if there might be any reasonable ways that you might be able to cut your expenses and/or increase your income...and continue to study bitcoin..

...but get started investing right away..and don't spend a lot of time studying prior to getting started beyond just figuring out some of the basics in regards to where to get it and some of the ways maybe to NOT have to pay a lot of fees, and you can figure out some of the wallet stuff as you build your investment amount - since it is likely better that you build your investment and then figure out how to store your seeds at a later date - including that we want people to hold their own keys, but if you are investing less than $100 per week, while you are learning and getting started, it could take several months before you start to feel that your investment into bitcoin is getting to be a lot.. and if you try to invest, 10% of your income into bitcoin, then even after a year of investing into bitcoin, you would ONLY end up having around 10% of your annual income in bitcoin... but during that time, you can learn how you are going to want to store your own keys privately, rather than holding your coins with a third party.