Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Kliss
on 23/07/2024, 12:04:19 UTC
while global politics works hand in hand with demand and supply which is the core factor responsible for Bitcoin price movement,

Actually I want you to understand that the growth of Bitcoin has never for once depend on the politics, so perhaps I wonder why you would think that global politics is one of the factors behind the growth of Bitcoin, however may I remind you that Bitcoin has been doing very well right from the beginning even when most people were against it, so perhaps I wonder why all of a sudden because of Donald Trump statement about Bitcoin almost everybody began to conclude that the growth of Bitcoin depends on politics, actually I totally disagree with that, though the only good thing about it is that after what he said concerning Bitcoin people who were skeptical about Bitcoin will now realize that Bitcoin is the only way and also change the wrong mindset most people normally have on Bitcoin investment.
The growth of Bitcoin doesn't dependon politics, no doubtto that fact.

But in regards to this context or development, what we should picture is that America is influential and most powerful nation globally in ( politics, Economically etc.) An Aspirant during their campaigns mentioning or emphasizing on bitcoin simply shows how important and relevant Bitcoin is, it's a boost to the bitcoin community.  So many countries looks up to US Economically,  there  are large percentage (%) of world population who haven't adopted bitcoin but the development can trigger adoption of bitcoin  especially nations, organisations and individuals etc who looks up to US Economically. Bitcoin is still growing and their is more room for expansion, so when prominent nation like US discusses bitcoin it can have impact on adoption and growth globally.


Perhaps what @Onyeeze failed to understand is that his theory of not having all the eggs in one bag shouldn't reflect on Bitcoin investment because I don't think there is any other investment more better than Bitcoin investment in my mind now in terms of diversification, however from his statement he seem to have been having a doubt about the future of the technology behind Bitcoin, however on the contrary instead of the technology to decline it will even improve the more as time goes by so he should remove his mindset about the technology because Bitcoin can never be affected anyway, so actually if this is the reason why he is having a double thought about Bitcoin investment I would suggest he start accumulating Bitcoin now because if he did not he will surely regret in the future.
“Behold, the fool saith, "Put not all thine eggs in the one basket" - which is but a matter of saying, "Scatter your money and your attention"; but the wise man saith, "Pull all your eggs in the one basket and - WATCH THAT BASKET." - Pudd'nhead Wilson's Calendar”

Author ― Mark Twain, Pudd'nhead Wilson

Honestly, i think diversification has to do with one's financial level at every stage in life. If a bitcoin investor have enough money to diversify then he should do so, but prioritizing his Bitcoin investment should be a necessity. At some stage in life (especially to the grownups within the age of 50 and above) they might be more scared to diversify because it will be harder to recover if the investment does not turn out successful. They rather choose to protect their wealth, by so doing sticking to just one investment that has been working properly for them. But a young man in his 20s can choose to try other investments as long as he is capable of doing so if it doesn't go out well, he has more time to come back up. But I won't want to take that chance. Concentrating on one investment builds wealth and I have tried it and it worked. If I am to diversify then it is to protect that wealth but I will put in my money into a safer asset.

I'm inclined to your emphasis @Dailyscript, it all about mastering in a specific investment rather diversifying when a specific purpose is not achieved. It's important to to focus on managing one resource,  keeping close  eye and managing such investment effectively. Our focus in Bitcoin in bitcoin investment, is to accumulate steadily and to hit a satisfactory level in our investment . Thinking about diversification as a newbie or not having a solid finance can be of distraction, so why not focus on achieving a specific investment purpose.