Post
Topic
Board Bitcoin Discussion
Re: Lessons of my experience and knowledge about Bitcoin
by
Bananington
on 05/10/2023, 19:23:03 UTC
_ Stick to Bitcoin: it's the real deal. Don't gamble on other cryptos

_ Avoid trading altcoin: you are not a genius trader, you will eventually get burned.

_ Never trust price prediction: no one has a crystal ball.

_ DCA into Bitcoin, emotions aside, No need to time this market.

_ share Bitcoin cautiously, people might think you want to scam them.

_ Attend meet up and conference, the Bitcoin community is awesome.

_ Guide newcomers to the crypto industry to Bitcoin only.

_join #bitcoin Twitter: it's less lonely with fellow holders.

_ Don't Force Bitcoin on others, but be a resource to those who seek knowledge
I personally am used to trading in the crypto market. Daily trading in altcoins and long term investment with the DCA method only on Bitcoin. But I agree that if you don't have high insight and mentality in trading then don't enter it. In fact, not only in altcoins but also in bitcoin. Investing in bitcoin is only for those who already know what bitcoin is and believe in the future of bitcoin. Not for those who only enter because they want a quick profit and enter based on other people's words without finding out and digging deeper into Bitcoin themselves.

Even those who talk about DCA but they put hot money into their DCA are certainly people who don't realize what they are doing. They don't know what risks they are facing. And they don't know how to invest properly because they don't understand what high risk investment is. Even for DCA, we will be good if we understand what investment is, what high risk investment is and we know the type of investment we are going to enter. Those who try DCA just because they hear from people without doing good financial management, they will only end up complaining when prices drop. In fact, for those who understand, actually going down is an opportunity to enter.

I agree that we should never force other people to get involved in things we like and are good at, for example Bitcoin. Let them be interested by themselves and if they come to ask questions and look for insight about bitcoin then we can explain it with the insight we have. Don't push others but let them choose what they are interested in by themselves. And it's better to be humble and not show off our bitcoin holdings.

Most of the points made are more of a moral deficiency because a real trader must trade altcoins at some point in their lives to be able to have the full first hand experience of trading.
Bitcoin is rhe top and boss of all other cryptos and to that fact I can attest.
I also agree that DCA strategy of investment is more valid with BTC than altcoins and what's most standard about BTC is that it is durable and whatever amount invested can be assuredly gotten out of it.