I recently created a post asking if I should buy bitcoin now or wait for the dip, and majority of the response I got from the post, advised that I should buy now rather than waiting for the dip due to its volatile nature, and I'm satisfied with this response and I'm willing to bear the risk.
Reason for all these questioning, I have a dream of becoming a long term bitcoin holder but, dreams aren't achieved with words alone, an action is needed for the start up, so I have decided to sell one of my less used phone for the purpose of buying bitcoin.
I'm really eager to purchase my first bitcoin in satoshi.
Of course you have made the right decision, but only invest as much money as you are prepared to lose. But nothing can improve in life without taking risks, but now Bitcoin is the best among the best suitable cryptocurrencies in the world today, you will benefit the most if you invest in this Bitcoin. Because Bitcoin has many positives since the ETF was approved in 2024, after this 2024 Harding, the bull market has started, and there is sure to be success if you invest in it now.
I don't agree with this statement now that I know better about Bitcoin. It is more or less fud in a soft tone. Who will deliberately invest his money to lose it? If I know I will lose my money in any investment, I will not call it investment and I will not be committed to such venture. I use the DCA method and do it consistently, I won't spend all that time and money on something I know will disappear and all my money gone.
I would phrase the matter differently, and I would think to invest into anything, whether bitcoin or anything else, there should be a certain level of confidence that the odds for it going up are greater than the odds of going down, and from your perspective such odds are greater than 50/50, but yeah, there are a variety of scenarios of marginal performance in one direction or another or great performance in one direction or another, so in some sense, as long as you do not hedge, then the most that you can lose is 100% (and perhaps the opportunity costs of missing the ability to invest into some other asset instead of bitcoin).
Part of the appeal of bitcoin remains that it seems to have very good chances for really high levels of payouts, and surely there could be some variations of the very high payouts that are less profitable, but still quite profitable, so in that sense bitcoin remains one of the best asymmetric bets that are available, but it is still just a bunch of probable scenarios with varying levels of probability and it is likely that people are not going to assign probabilities the same, so then we also have asymmetric information in the sense that hardly anyone owns any bitcoin, so even if they know the word, they likely don't know what it is, otherwise they would own some.. .so in that sense, a large number of them are either going to die first, or they will end up coming into bitcoin later, whether they want to or not.. and sure, we also have ongoing attacks upon bitcoin, too... so there surely can be confusion for anyone regarding whether bitcoin remains a good investment - surely an aspect of the asymmetry in the bitcoin-related information, and investors into bitcoin are likely to receive payments for both their having such information about bitcoin and also their acting upon such information by stacking sats.
I'm not saying that there is no singe risk involved in Bitcoin but the truth remains that Bitcoin is not turning to zero for any reason so there is no way I will lose.
It is not a zero chance that bitcoin would either go to zero or some other variation of going down from here rather than going up, so if bitcoin were to continue to spiral downwardly without ever recovering and if you were to keep buying bitcoin and it never recovers, then surely in those kinds of circumstances you would end up losing, and even if they might be low probable outcomes, those are not zero possibility outcomes.
From the available data about Bitcoin, the only time you lose money in Bitcoin is when you deliberately sell at a loss else holding it for a little longer will always lead to profits.
Selling too much too soon.. yeah.. and then also trading and/or using margin.... but yeah, so far, historically, those who have either held or just continued to buy on a regular basis and errored on the side of holding and not selling, they have so far always gotten into profits, and truly that is completely true for everyone when when we are at all time prices... and the last time that we were at all time prices was around 7 weeks ago... yet for sure, right now, as I type this post at $59,244, we are right around 20% below ATH prices... so there would be a small grouping of folks who are not currently in profits.
The right advice we should be giving people is to invest what they can afford to hold for a long time and not expect quick profits. If they come into Bitcoin with this mindset, they will not be in a hurry to sell and when price drops like we are experiencing now, they will be patient to wait it out.
For sure, you are not going to get any quibbling from me on this part.. there are a lot of ways that newbies should be able to figure out their position size so that they can mostly invest and/or continue to invest when they are establishing their initial position in bitcoin, and surely some people take longer than others to really establish a position and/or to stick with it... and surely since 2014 or so, I have been saying very similar things to people in the real world.. and they hardly every listen, and there always seems to be certain amount of negative or questionable things going on around bitcoin that will scare normal people from getting involved in bitcoin, but surely a measured approach should resolve these kinds of matters, which also brings us back to DCA.. which also newbies seem to even be reluctant to engage in a DCA kind of an approach.. because if they get into something, they seem to want to figure out a way to get a reasonable stake, and surely having difficulties concluding that DCA is one of the better of ways for almost anyone to get into a long term investment.. even if the first few years might feel a bit painful - especially with the bitcoin's volatility... but yeah, getting over the hump of coming up with a plan and then taking actions (and then following through) can be tough for a lot of folks.