Quote from: Jaycoinz on November 10, 2023, 11:15:58 PM

Quote from: lienfaye on November 10, 2023, 04:37:50 AM

Quote from: barisbilgili on November 10, 2023, 04:22:58 AM

If we invest in crypto of course we will choose Bitcoin as the investment we choose because it is very leveraged that we can get profits from Bitcoin if we can collect it with the strategy we choose, choosing altcoins to invest of course we have to really know well about the altcoin that we choose because it is very difficult to make a profit.

Many investors still prefer alts instead of Bitcoin because of the possibility to gain huge in a short period (especially if you invest on the current hype like meme coins) that's what they thought. But not realizing that investing solely to Bitcoin is way safer and less risky. It might take time to gain but at least it's much wiser compared to investing in altcoins.

Therefore, buy Bitcoin and keep holding because it's the best choice.

From my readings and learning here, I have come to notice that altcoins are not particularly people option when it comes to an investment and this from an angle is true but many other people in the crypto space seem to think diversifying your portfolio during bull season is probably the best type of investment especially when some altcoins too tend to follow the upward trend of Bitcoin although I come to the understanding that in order to do this, it has to be in done in a short term investment because altcoins do tend to dump at any time but that doesn't remove the fact they are still possiblity of some investor getting some profits out of an investment in some altcoins although there's still the problem of actually knowing the right one to invest in, but I would like to know your take on this thought, sir JayJuanGee as you seem to be well inclined in field of economical statistics like investment in Bitcoin.

We have already talked quite a bit about this topic in this thread, and probably too much in this thread since first of all the topic of shitcoins is not on topic in this thread.

Another thing that I frequently say is don't be fucking around with shitcoins. Get your bitcoin investment plan and practice in place first, and then if for some reason you are a gambling fuck and cannot resist wasting your time, money and energies in shitcoins, then hopefully you are not so dumb as to invest any more than 10% of your total crypto portfolio (meaning bitcoin is at least 90% of that) on shitcoins.

Regarding your point about correlation, yeah of course, shitcoins are correlated to bitcoin, so why are you going to waste your time adding extra risk when they are already correlated to bitcoin.. the reason is that you are either a greedy fuck or that you do not sufficiently understand bitcoin.

In the end, do what you want. No one is going to stop you from wasting, time, energy and money to fuck around with shitcoins, but hopefully you at least have enough will power to stop at no more than 10% of your total crypto size, and yeah of course you are going to feel that it is not enough because there are thousands of worthless shitcoins that make it appear that they are worthy of investment for one reason or another.. but largely just bullshit... even if some of them may well have short periods of outperforming bitcoin and sometimes their outperformance of bitcoin might last a long time, but I doubt that the possibility that they might be able to outperform bitcoin is a strong enough reason to waste time, money and energy ojn them... especially if you actually account for both upside potentials and dowside risks.

Again, do what you like. And the mere fact that you are asking about them, in this thread, while presuming that you are asking something important, shows that you are either likely already distracted or that you are trolling the thread with disingenuine off-topic bullshit.

Quote from: Jaycoinz on November 10, 2023, 11:15:58 PM

Although I don't to think am ready to take such risk with having an investment in some shitcoins as some do call it here and I believe my planning to holding my coins would solely be related to Bitcoin only, but for now that the finance isn't there am not in any hurry to make an investment as I have also learnt that one should actually invest what they know won't affect their activities with money concerning their basic needs, so am drafting a good plan to my DCA STRATEGY as soon as possible since the market is looking friendly, I believe I don't need to wait for the DIP to comes because there's no certainty on when that will occur again so starting now isn't actually a bad idea right?.

From this part of your post, it appears you understand not to fuck around with shitcoins, but you are still wondering about it. I would think that if you invest in bitcoin for 3-5 years or longer, and you get your shit together in regards to your bitcoin strategy, then you will likely be in a better to reassess the extent to which you might want to add shitcoins to your investment portfolio... and probably even if you spent several years investing into bitcoin and you do decide to add some shitcoins,. you will likely come to realize to keep your investment into shitcoins down to a pretty small amount, otherwise you may well end up either drawing from your bitcoin investment, diluting your bitcoin investment and/or finding that there are quite a few ways to be creative with your bitcoin without having to devolve into fucking around with shitcoins.

Quote from: Winterfrost on November 10, 2023, 11:28:35 PM

Quote from: JayJuanGee on November 10, 2023, 06:00:07 PM

[edited out]

A well detailed explanation you have done well JJG. But on the other side of the spectrum there are people that were early adopters with no financial wealth or level of education and got bitcoin for less than $0.1. But most of them sold at $1 because it surely can't go higher than that and some were lucky to sell during the previous bull run. Those people lost a loot by selling. I can totally understand that those persons lack the knowledge and advantages of holding long. Everybody has their own experiences which might influence their life one way or the other.

Of course, there are going to be quite a few examples of people who got into bitcoin early and sold way too many too soon, and so I am not sure exactly what we can learn from them, except maybe to try NOT to make similar kinds of mistakes (especially if we can recognize the mistakes). Frequently, there are going to be ways that we actually have to apply our learnings in very concrete kinds of action ways and even go through some of the waves of the cycle in order to feel some of the compelling aspects of employing various strategies through such waves, whether it might be some variation of ongoing buying, or maybe some shaving off of some BTC holdings at various points (hopefully not selling all of them), and if we try to learn from our mistakes, we also likely will learn about ourselves, including seeing that sometimes we might have tendencies to make similar kinds of mistakes over and over, and we might not exactly know how to resolve our own mistakes without actually employing actions and various kinds of ongoing reflections regarding what we did and what were the effects of our actions.

Quote from: Winterfrost on November 10, 2023, 11:28:35 PM

IMO you financial wealth and formal education is not really important to an investor. I see it as plus and something that could be achieved as time goes by.

Experience does tend to be a good teacher, but sometimes formal education does help us to learn how to learn... and sometimes we might not even realize that some of the things that we had not been learning through formal education might have been a result of our not figuring out how to try to put some of the training into action or to figure out its relevance in our lives and/or in connection with some topic that might be of interest to us.

Quote from: Zigabel on Today at 12:17:51 AM

Quote from: Fara Chan on November 10, 2023, 11:00:03 PM

For those who like to focus on long-term investment patterns, I don't think there is a need to focus on discount prices in the short term except to continue buying at discount prices for more profits in the future. Because investors who apply long-term investment patterns more often hold Bitcoin for the long term than people who focus on the short term.

Long term investment in Bitcoin would require you buy lowered or cheeper and hodl for a long term which may Spam across years in some cases before you take profit, and that's why discount prices can't be over looked regardless of the timing. Discounting is good for both long and short term as either ways still turns out profitable able except the short term is below months then space of days or weeks sometime wouldn't be effective enough to yield good profits.

Frequently we are going to need several cycles in something like bitcoin in order to hopefully experience the exponential aspects of the compounding effects, and sure some folks might be completely happy with 50% profits or even 3x to 5x profits, but sometimes with a bit of patience the 3x to 5x may well end up turning into 20x or more.. but those kinds of compoundings do not necessarily happen within one cycle and may take several cycles to play out.