Quote from: bayu7adi on Today at 03:17:54 AM

Quote from: Ricardo11 on August 19, 2023, 04:12:38 PM

I invested all my savings in Bitcoin to pump coming in Bitcoin. Because I believe that Bitcoin will give me a return of 3 to 4 times my investment when the Bitcoin market pumps up. Because after pumping the price of Bitcoin it can be up to around 120k. That's why I invested all my savings in Bitcoin with strong faith in Bitcoin. And I believe that Bitcoin will not let me down.

Overconfidence can be detrimental. Are you suggesting investing all your savings in Bitcoin with unwavering confidence? That's not only unnerving but also considerably risky for your future financial well-being. We can't predict how strong our resolve will be during bearish periods, and unexpected needs might arise, compelling us to withdraw a portion of our savings.

Confidence is important, but it must be tempered with wisdom when making financial decisions. Long-term financial stability ensures our survival and the ability to enjoy life. Don't allow yourself to succumb to frustration and stress.

I don't have that kind of confidence that we are certain to have a massive pump with 3-4x returns. I am however confident in bitcoin as a project that I have most of my money in BTC. I believe that having a decentralized and permissionless form of money will always be needed so it is unlikely Bitcoin will fail. Just looking at the state of the world and how easy it is for governments to dispossess people of that which they have earned is terrifying. While I do hope the price goes up, and I am hodling more and spending less in anticipation of this, Bitcoin is more important as a tool against oppression and economic subjugation.