Quote from: Litzki1990 on Today at 05:56:45 AM

Quote from: rojan on October 13, 2023, 08:43:15 AM

Quote from: Popkon6 on October 13, 2023, 05:28:13 AM

We must acquire knowledge about Bitcoin to invest. Because only when knowledge about investment is gained we can use it in the work of holding. People are lazy that's why they face loss today because their motive is to earn profit. Investors become reluctant to sell when little profit is earned, as they have not acquired the appropriate knowledge. Due to which even after investing they cannot sell at the right time due to which holding is not suitable for them. So I think one should learn risk taking by gathering proper knowledge and using DCA method strategy with patience and holding for long term.

Investing in reliable bitcoin like bitcoin is not risk of losing money so we can invest in bitcoin. Besides bitcoin we can choose some coins to invest from altcoin. But investing in altcoin is more risky than bitcoin. Again bitcoin's If you invest in altcoins, you have the opportunity to make more profit.

Choosing a specific coin to invest in is our next step but the first step in our investment is how much we know about investing. You can buy any coin anytime you want with the money you have but that is not called investment. Before investing, planning for a certain period of time, having a sufficient understanding of the investment, fixing a certain target, observing the market, buying a coin with the risk of money, and holding it for a long period of time is usually an investment. I mean holding for long term investment, people who will invest and within a few days of investing will be restless to sell their investment I don't consider that as investment. Long term investment means you must hold your investment for a long period of time if you lose money or make a profit then your investment cannot be sold.

For those of us who are interested in investing, if we feel that we have enough knowledge about investing, then our next step is to choose a particular coin, for long term investment, I never look for other coins because my first and last choice is Bitcoin. I am not willing to take maximum risk of money no matter how much profit other coins give me, I think my money is safe if I invest in bitcoin so I always take bitcoin for long term investment and I think I am right in my decision.

Isnt it funny how some folks think they're "investing" by just throwing money at random coins without a plan? Im with you on that. Before diving in, understanding the landscape is paramount. Knowledge is your shield in the wild west of crypto! That said, I cant help but chuckle when I see someone jumping ship every other day because their "investment" dipped a bit. A long-term vision, as you rightly pointed out, is a sign of a seasoned investor.

Now, about Bitcoin - I totally get where you're coming from. Its the OG, right? Its like wanting to stick with the classics instead of the new flashy trends. Others might chase the next big thing, but Bitcoin has proven its resilience time & again. Your caution is wise, my friend. While diversification can be beneficial, there's something comforting about sticking with the tried and true. And who can argue with that?