Quote from: DiMarxist on August 11, 2024, 09:36:21 PM

If you are investing for Bitcoin for long term, you don't have to check the price daily or weekly just save your seed phrase in a good secure place and delete the app from your phone. And you can check the price just once a month.
Or set alarm to receive the price of bitcoin whenever there is fall and rising. And when the price down then buy more to fill the wallet.

Did you just say delete the app? To me, that is not the best solution to keep your bitcoin for a long time. Expect if you find it hard to achieve your goals due to a lack of patience or fear of losing. There are two things to apply. Even when you find it hard to be patient about your investment or you always have the fear of losing in you, all you need to do since you are investing for a long time is just to fix a year, time, and date that you will like to withdraw, and when the time reaches then you can see if your profit is there or not. That is what I call achieving your target the negative or positive way. The most important part is don’t be afraid of losing because you know the risk and you wish to join.

Moreover, to me, if I invest for a long time, I always check the market and see the movement of it, so that I will know and be ready to invest more, because if you can forget about your investment, you won’t know if you can get your target or not, and forgetting about the investment or deleting the app will make you want to withdraw your money when you see a higher loss or when you have an emergency, so to me, that is not a nice idea.

Quote from: Emmanuelex on August 11, 2024, 07:20:11 PM

That's right. Bitcoin is a good investment, but before you start, you have to make sure that you understand the risk you're about to take and that the money you're risking is always what you can afford to set aside for the risk and not mind losing them. Same way the profit comes, is the same way that there can also be losses. So we have to be very careful with it.

Any risk must be taken into notice and considered before joining the risk, and bitcoin risk is a type of risk that you will never lose all what you have invested unless you lose a bit or something higher, but still you can't lose all your investment, and that will give you the chance to invest more and also wait for your profit.

The main reason why we all emphasise investing what you can afford to lose is because you are not supposed to invest all your life savings in bitcoin, because a little drop will shake your heart, just because of the higher expectation you have on it, but when you invest a bit of money that doesn’t feel like anything to you, you will find it easy to endure even if you lose a bit in it.