Quote from: Barikui1 on Today at 07:11:31 AM

Quote from: laijsica on Today at 05:23:03 AM

Quote from: sotelorene on August 02, 2024, 05:11:50 PM

Quote from: Shadiq on August 02, 2024, 05:58:55 AM

Quote from: Odohu on August 01, 2024, 09:03:23 PM

I think the market just offered us another opportunity to buy, buy and continue to collect more Bitcoin at a very reduced price. This does not come as a surprise to me though because I expected some corrections from ending of July to August but this will begin to change as we approach September, a month that is always seen as a positive month for Bitcoin. Both those using the DCA method and buying the dips have the chance to take advantage of the drop in price. This is not the time to panic but time to take actions that is intentional.

This month may be the last chance for us to buy dips. We may not be able to buy bitcoins at this price anymore. This month of August may give us a great opportunity to buy more bitcoins at a lower price. Many holders are panicking and selling their bitcoins, I'd say they're making a huge mistake that they'll regret later. This is not a month to panic but rather a month to take advantage of opportunities. So don't panic during this low price of Bitcoin and focus on increasing your investment.

Actually this is really a period to take advantage of the market but not a last chance because as long as Bitcoin investment is concerned there's nothing like last chance to..., because we can't really tell for sure, we are just predicting and for those who are panicking is not necessary and people who panic seeing the price of Bitcoin dipping are mostly traders and those who don't know how Bitcoin works because someone (investor) who understands how Bitcoin works will take advantage of... wisely instead of panicking.

Bitcoin is more risky for investors to panic which could be detrimental to their holdings. You can expect enough bullishness but price assumptions may not be correct so you should continue to buy Bitcoin regularly (DCA). Boldly increasing your holdings and making the right decisions and buying dips can tempt you to grow your Bitcoin stack as expected. Accurate forecasting of the market is not applicable to you if you are into buying regularly and expect more holdings. You should aim to build up a stack of Bitcoins alongside your family's daily expenses and wait for the chosen time to diversify your portfolio (DIP).

What you were saying wasn't that bad, but you later spoil it with the words I made bold, am talking of where you were talking of diversification, that we should wait for the chosen time to diversify our portfolio.

And on a sincere note, It saddens me that most folks that has gotten a taste of knowledge on Bitcoin and what it entails still thinks on diversifying, when they knows perfectly well that their is no substitute to Bitcoin, any other token aside Bitcoin is very risk, and their is a higher probability of losing your hard earned money because it's like gambling, Something that the chances of you losing your money is way more bigger than the chance of you succeeding, so why would I take such a risk?

what I just have to tell you is that if you are bent on going that destructive part of investing in shit coin or alt coin, don't try to lure others with you, because in the world of cryptocurrency, their is no diversification, because their is no substitute to Bitcoin.

You are correct that laijsica is expressing himself in a strange way and also assigning an acronym to the idea of diversification is confusing too. The general idea in terms of getting started with investing into something like bitcoin or any other investing is that when you start, you don't need to really consider diversification beyond cash and bitcoin, yet at some point down the road, you might want to consider diversification to the extent that you might feel that you are holding too much value in either bitcoin and/or cash and perhaps especially you might become concerned how much cash you have that it not "working" for you, and you are no longer feeling comfortable putting that "extra" cash into bitcoin.... so the point at which you start to feel needs to diversify might come differently for people.. whether it is after you reach 1/2 year or 1, year or 3-4 years of the value of your expenses in bitcoin or some other quantity.

Experienced investors might choose to diversify earlier, yet diversification for the mere sake of diversification is not a very good idea, and generally diversifying would be in other categories of assets, so someone investing in bitcoin would not consider shitcoins to be non-correlated to bitcoin, but maybe still might be willing (or tempted) to put up to 10% of their bitcoin value into shitcoins, yet more traditional ways of diversifying would be into things like equities, property, bonds, commodities and cash/cash equivalents.

Quote from: red4slash on Today at 09:45:48 AM

Quote from: Yucky on July 30, 2024, 09:42:43 AM

apart from his usage of the phrase "Risk free", I don't see any misleading thing from what he said most expecially when it's coming from a fellow that was once a trader and decides to start holding Bitcoin instead of making things too complex through his trading. Relative to trading, holding Bitcoin could to some extent gain the notion of being looked at as a somewhat risk free investing approach even though no investment is 100% void of risk. It's just because when you're holding Bitcoin for the long term, you're not at any serious risk to become afraid that because you've experienced correction at a certain month or another that lasted for months that you've lost out in your investment, it just means you have to wait pass those correction point and you can get back to being profitable.

While it's good to have a positive state of mind towards your investment, it's also good to be as realistic as possible and know that risk is a pivotal aspect of all investment journey.

No one can say when in bitcoin and investing there is risk-free because after all investing in bitcoin is clearly risky and we cannot rule out that fact even though maybe the risk is smaller than trading but still the risk is there and we as much as possible should still know about it.
Everything we go through and do has its own risks, as well as being in bitcoin because after all with the fluctuating nature of bitcoin it is clear that we must be able to keep ourselves from worrying too much about the movement of bitcoin as long as we invest in it.

There are many examples when someone starts plunging in bitcoin but is not aware of the risks they face which in the end they lose and feel cheated by bitcoin even though it is their own fault for not knowing more about bitcoin, how bitcoin works like what and the risk of being in bitcoin is like what makes them panic unreasonably due to lack of further understanding of bitcoin.
Whereas if they enjoy the process that is passed and remain confident that the choice in bitcoin is the best then they will definitely remain comfortable because they know all forms of risk will pay off with results where we can achieve the financial freedom that we always want.

Volatility is not the same as risk, and sure everyting is risky including bitcoin. One of the ways to deal with bitcoin's risk is deciding position size, and including investing as much money as you are willing to lose in the event that bitcoin were to go to zero.. so accounting for how great you consider the odds of bitcoin going to zero versus that it could go up in value in various ways might help to establish how much you are willing to invest, whether it is 5%-25% of your income (or the rest of your investment portfolio) or some other amount of your own choosing.

And yes, merely because bitcoin is risky also does not mean that it will pay off in the end or that you are going to profit merely because it is risky.

Surely there are a lot of folks who seem to be mislead or ill-informed about what bitcoin is, and so personally I would suggest that there is a lot of advantage of investing in bitcoin based on ideas of asymmetric information, so a lot of people are misinformed about bitcoin, and so they may well not invest into bitcoin until later, so that misinformation and disinformation likely contributes to bitcoin being undervalued..... while at the same time, there are odds that any of us also could be wrong about bitcoin, so we need to choose our bitcoin position size in accordance to some level of balance, and if we are new to bitcoin investing, we can choose to DCA into bitcoin with a level of our disposable income that is comfortable to us (I like the idea of weekly investing, especially for newbies, or anyone still in their first bitcoin cycle who might consider themselves to be in their accumulation phase) while we are figuring out our own willingness to be more aggressive in our accumulation of bitcoin or not.