Quote from: Dimitri94 on Today at 01:13:18 AM

Quote from: I_Anime on February 27, 2024, 08:46:10 PM

Quote from: JayJuanGee on February 27, 2024, 08:15:56 PM

That is what shitcoiners say all the time, and they end up broke because many times they end up gambling rather than investing, even if they might think that they are investing, but they have such superficial understanding what they are investing into and maybe they do not have too many clues regarding what is the meaning or risk and how do you either assess it and/or establish sound practices in order to mitigate many aspects of the risk.. whether that is figuring out position size, or what to invest into or how to manage personal finances (including but not limited to planning for income and expenses - as well as establishing emergency funds, reserves and/or a float)...

Lol that's actually true, such statements mostly use in shit coins . We all know that bitcoin has it's own Risk but to me bitcoin is only consider risky to those who normally focus on short-term profits. But when holding bitcoin ( for long-term) as same time you're minimising the risk in investing in bitcoin, because bitcoin is actually more safer to invest on than those shit coins that are damn risky . So when you have good principles towards bitcoin, you would secure a smooth and safe investment.

According to data from coingecko today there are 12906 coins included. How can an investor ensure his profit by investing in so many coins? Bitcoin is the only cryptocurrency that is completely different.

It is indeed a terrible situation with a compounded risk. The terrifying part is that many of these shitcoins have died, resulting in total loss of funds to those who bought them thinking they were making smart investment. From this article in Coingecko, 50% of all cryptocurrency they have listed since 2014 have died, meaning they went into extinction resulting in total loss of funds of those who bought and held them. If this does not scare anyone, it does scare me a lot when I imagine how painful of losing one's entire asset to shitcoins.

Quote from: Dimitri94 on Today at 01:13:18 AM

There is a big difference between a Bitcoin investor and a Shit Coin investor. I saw a friend who was a holder of Shitcoin. He cannot control greed at all. He has invested in some shitcoins in hopes of more profit that shows a different picture of his coins when the market is in a pumping movement. He has been holding sheet coins in his wallet for over a year. But if he had kept all his money in bitcoins since then, he would surely have multiplies his investment today.

It is somehow difficult for a shit coin investor to avoid greed because they got into such investment due to hype and the desire to make outrageous profits within a very short interval of time. This is actually greed in practice. Without greed, it is easy to see that Bitcoin is enough if you actually put into consideration the advantages it has such as being reliable, larger user base and having withstood criticisms and other negativities.

Quote from: Dimitri94 on Today at 01:13:18 AM

Even if he did DCA, he would have turned out to be a relatively large holder of Bitcoin.

Applying the DCA method for shitcoins is just like working hard/smart but in the wrong direction, a total waste of time and energy. Most of the shirtcoin enjoy initial pumps which is a way of attracting new people into the scheme before they are eventually dumped while some do not enjoy pump and die as soon as they get listed in exchanges.

Investing in shitcoins is same thing as gambling because you are likely to lose all your money when it goes wrong. Why then should someone take such risk when Bitcoin is there?