Quote from: Nrcewker on July 20, 2024, 06:04:45 PM

Everything in the world is a game, I would say. We need to maintain balance while we play. Once we know how the game works, we use it in our day-to-day lives. Similarly, Bitcoins are a financial game. Unlike any other investment, we can do Bitcoins in order to make some extra bucks. But yes, we need to understand the risk involved in it and invest in our capabilities. The market is always volatile; hence, we should invest only that amount in Bitcoins that we can afford to lose.

Right, it means when you understand how investment really works then you will know how to play well, in the sense of knowing what to do and what to avoid, and all of this you will only know when you understand the opportunities and risks.

Basically understanding something you are doing is the main key to staying awake or avoiding unwanted possibilities, this is an investment where as you said that the market is always volatile which can make us lose money, but by having the right basic understanding then of course you will only take various actions in a measured way, in the sense of not exceeding your capabilities especially in terms of allocating money.

Try to only allocate an amount of money that will not be used for other needs in life, because the benefits of investment will be maximized when you have long-term planning, meaning you must have another amount that will be used as an emergency fund to overcome various possibilities that occur unexpectedly that require you to spend money to overcome the problem, and with the emergency fund that you have prepared, the bitcoin assets that you have maintained will not be disturbed, because I often see investors who eventually fail in the sense of cashing out all their investment assets to overcome the problem that occurred unexpectedly, which indirectly prevents you from getting greater potential profits.