Post
Topic
Board Nigeria (Naija)
Merits 6 from 3 users
Re: Do Not Pressure Anyone Around You To Invest In Bitcoin.
by
Odohu
on 22/06/2024, 16:34:12 UTC
⭐ Merited by hugeblack (2) ,Roseline492 (2) ,Promocodeudo (2)
I always say that investing in Bitcoin is more like a gamble and in gambling there are two things involved, it's either you lose or you win, and pressuring a newbie that knows nothing about the rise and fall of Bitcoin to invest is attracting problems for yourself if anything goes wrong at the end of the day because they think it's invest today and cash out tomorrow which is obviously not the case. Though there's nothing wrong in telling your friends and relatives to invest in Bitcoin but let it be only without pressure or imposing it on anyone to avoid being held responsible for their loses because people are impatient these days.
I don't quite agree with your analogy because to me gambling is totally different from investment in Bitcoin. In gambling, when you lose, all your money is gone but in Bitcoin, you only lose money when you sell. If you can wait out bearish season, you will hardly lose money in Bitcoin. Bitcoin is less emotionally draining and those who held for a longer time get richer. Instead of comparing investment in Bitcoin to gambling, it is wise to compare buying some new coins to gambling because you are not sure if the coin will survive or fail.... this is the real definition of gambling. To support this, people buy memecoins with small amount of money such as they are able to lose whereas they invest in Bitcoin with big amount because they know the risk is lower in Bitcoin.