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First of all, bitcoin is just an investment and it can bring us profit or loss. We should not consider it as a source of income to maintain our daily lives. Second thing, once we get a job with a steady income, investing in bitcoin alone is not so bad. I mean, if we don't have a lot of money and only a limited amount of capital, there's no point in diversifying. That just dilutes our investment and doesn't give the best return.
For example, you only have 5k to invest, and if you diversify with gold, bitcoin, stocks, I'm pretty sure it won't increase your investment significantly. But if you invest all in bitcoin and hold until the price increases, you will get the highest return. Diversification is when we have a lot of money and a lot of capital but if limited capital, diversification does not help us.
I've devoted countless hours to studying the development of people and how they came to use money. "Bitcoin should only be used as a tool for investing" is, at best, rudimentary. From exchanging seashells to Bitcoin, everything has historically had the potential to be a source of money. Your contemptuous attitude toward Bitcoin's potential conceals its real possibility for revolution.
You mention having a job and a consistent paycheck. Pffft!
Traditional employment is the result of an outdated paradigm. Relying completely on them would be naive in a world that is changing quickly. Regarding your criticism of diversification with limited money, keep in mind that diversification is essential to survival, as taught to us by evolution. Yes, betting everything on Bitcoin could result in large profits, but that tactic smacks of flimsiness. High potential for catastrophic failure, yes, but also high potential for reward. Keep in mind that evolution rewards flexibility over rigidity.
Yes, it is outdated but the important thing is that it is still bringing profits and wealth to so many people. Like me, I have a traditional business, and it has given me a fuller and better life than anyone, and I don't even feel how inflation is affecting me. And you, you are investing in what is supposed to be the technology of the future, what do you get? Your statement that traditional jobs are obsolete reminds me of many altcoins investors who have always criticized bitcoin as stale and outdated. But by far bitcoin is by far the most reliable and most profitable investment.
In terms of diversification, it's an individual decision. I'm just focusing on bitcoin and I'm making a substantial profit. And you, how has your diversified portfolio evolved?