Quote from: JayJuanGee on Today at 01:59:20 AM

Quote from: Barikui1 on April 12, 2024, 01:55:16 PM

It's actually true that Bitcoin investment is not as risky as most people think, but it's risky, just as any other investment, so if anyone start telling you that their is no risk attached to it, bro, he is lying to entice you, but not only in Bitcoin, their is always a risk attached to all investment, that's why you will keeps on hearing the word, do your own research, so as to know more and what it entails and how to navigate your way around it.

Sure there are some folks who are actually saying that there is no risk in bitcoin, and some folks believe that if they DCA, then that takes out the risk..

So yeah, those kinds of representations of bitcoin or even using the DCA method would not be correct.

The more proper assertion would be to proclaim that the most that you could lose is 100% of what you invest into bitcoin, so you need to consider the possibility that you could lose 100%, and if you do not engage in leveraging behaviors, then the most that you are going to lose is 100% of what you invest, whether that is time, energy and/or value that you put into it.

On the other hand, bitcoin remains an asymmetric bet to the upside, and perhaps it is the best asymmetric bet that is currently widely available to almost anyone in the world. Even though there are ways to benefit indirectly from the existence of bitcoin, one of the ways to benefit directly is to invest into bitcoin, so if you don't invest into bitcoin, you are most likely not going to directly benefit from it.

Good luck in terms of deciding how much to invest into bitcoin, but surely it seems an overwhelming majority of the population don't have enough bitcoin, so the problem tends to be underinvestment rather then overinvestment, yet each of us has to decide for ourselves in regards to how aggressive that we are ready, wiiling and able to be without over doing it and recking ourselves.

Quote from: Barikui1 on April 12, 2024, 01:55:16 PM

Lastly, as for the alt and the shit coin, they are the real danger, and most people are not aware to the fact that they will definitely get burn by investing in them at some point, the major problem they mostly have is greed, because they only pay attention to the crazy returns, forgetting about security, and forgetting that they falls more than they rise, but anyone that cares more about security will have nothing to do with alt and shit coin, because they are actually gambling with their hard earned money to me.

Sure, we probably agree here. Just say no to shitcoins, and if you cannot resist investing into shitcoins, then limit such investment (if we can even call it that?) to less than 10% the size of your bitcoin investment, and the better thing is to figure out bitcoin first and get your strategy and your plan execution in order in regards to bitcoin prior to getting distracted into any shitcoins, even the ones that seem shiny and alluring.

In other words, fuck shitcoins and focus on bitcoin first prior to getting distracted.. but hey, if you cannot help yourself at least limit your exposure (of your time, energy and/or value) to such nonsense.

Quote from: Mayor of ogba on April 12, 2024, 02:39:01 PM

Quote from: Hallroom on April 11, 2024, 11:12:02 PM

You can deposit bitcoins using DCA method but have you ever thought that you need a strong wallet. Bitcoin storage should never be deposited in a light wallet, because you can never ignore Bitcoin, Bitcoin is a valuable asset. So the best way to save Bitcoin DCA method and even better way is to use strong wallet.

The DCA strategy is used to accumulate bitcoin, not to deposit bitcoin in the non-custodial bitcoin wallet. After getting a good non-custodial bitcoin wallet, you need to protect your wallet's private key or seed phrase from people and back it up in two different locations that only you know. If someone gets hold of your wallet private key or seed phrase, he or she can initiate a transaction and move your bitcoin to a another non-custodial bitcoin wallet.

Even though you are correct, some folks get confused by the term "non-custodial," and yeah, "non-custodial" means the same as self-custodial, and I personally think it is much more clear to use the term self-custodial in order that fewer people will be confused.

I am not sure who came up with such dumb term "non-custodial" that is confusing as fuck, yet everyone should be able to figure out what "self-custodial" is.

When possible, it is better to use more clear language in order to lessen the likelihood of confusion, especially when newbies are sometimes trying to figure out what they need to do.. or what they need to learn about, yet they might not even understand the terms that are being used, especially when the terms are ambiguous and potentially purposefully meant to mislead people.

In regards to custodial wallets, it is likely better to describe those as third-party custodial in order to clarify that they are wallets in which someone else controls the keys or that there might not be certainty in terms of the exclusivity of the wallet.. such as exchanges and other services that people use and they do not hold the keys, so those wallets are called custodial wallets, yet for clarity they are third-party custodial, so that should emphasize the point that someone else has the keys (or potentially can block the person from being able to withdraw the money from those kinds of third party custodial wallets).

Thank you for the clarification, JayJuanGee. Next time, if I'm talking about bitcoin, I will use a clearer word that a newbie will easily understand, and I will also start saying self-custodial wallet instead of non-custodial wallet. The knowledge shared here by you and others has always helped so many people who are taking the wrong steps toward bitcoin investments to do better and know what to do in order to hold bitcoin for the long term.