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Board Beginners & Help
Merits 1 from 1 user
Re: My decision on bitcoin
by
Makus
on 02/05/2024, 08:28:03 UTC
⭐ Merited by fillippone (1)
Another thing is that I keep saying that guys that got into bitcoin in the last year and a half are really somewhat spoiled since the BTC price has mostly just gone up in the last 18 months.. .. yet even though they are spoiled, there still can be a lot of dilemmas, especially for newbies who sometimes will feel that they need to cash out some profits, so I am not even suggesting that they might not be faced with some difficult decisions in regards to whether they are really committed to investing and building their BTC holdings over the longer term..

In as much as I started last year September and have Seen a bit of sideways and more of the bull, I can say for sure that I have gotten enough experience to challenge my decision and emotion because, I was on a high profit especially when Bitcoin broke the new ATH. But here is my belief,  knowledge is usually stronger than assumption and predictions, however my knowledge I have about Bitcoin in relation to the reputation it has attained over the years is concrete enough to convince me that Bitcoin can still do more ATH.

Experience starts only after taking actions, I am glad you get this far but one thing is missing here, where are you keeping your Bitcoin? I hope you know the difference of a open source Bitcoin wallet and a closed source Bitcoin wallet.

Sure mate, like I said earlier, when I started this thread I was a bit of a novice who had only little experience or idea in the crypto network, but as of today, I know the importance of security and the penalties that follows if you disregard any caution in safe guarding your mnemonic seed. I'm currently using an electrum wallet to store my Bitcoins but when it gets to a certain level I'll consider the use of a hardware wallet.