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Quote from: reefsea on September 12, 2024, 10:07:48 PM

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Quote from: reefsea on September 11, 2024, 10:46:49 PM

A good pattern, not a chart pattern but the pattern you say. Hitting the buy button is the best among many strategies available today.
Investors will be successful in accumulating lots of bitcoins because they are diligent in hitting the buy button.

Bitcoin investment is the best compared to shitcoin. I am not sure how much has been lost by buying shitcoin. They should be aware of themselves to buy Bitcoin today.

I'm VERY confident that most of those cryptocurrencies that are not Bitcoin will simply die and/or become irrelevant after two or three decades. That's also how long your time-preference be for your Bitcoin investments in my personal opinion.

I think so too, slowly many investors will realize how stupid they are to choose shitcoin in their portfolio. It won't take long for shitcoin to die because they won't have any idea to attract us into them.

I think bitcoin is number 1 to be used as an investment for old age, bitcoin will be adopted by many countries in the next 10 years. Fiat will disappear and bitcoin will dominate it. For beginners, don't be afraid to invest in bitcoin because bitcoin is the best choice compared to other assets.

Bitcoin has been proven to be the only asset that is resistant to inflation even though its price fluctuates, this makes Bitcoin validated as the best safe haven, as far as I have heard, smart investors will only make Bitcoin their main investment, and when they need money, they will use the Bitcoin they have as collateral in a lending platformthey are very smart because they realize that there are only 21 million Bitcoins and the amount cannot be increased or decreased.

I don't call using your bitcoin investment as collateral when you are short of funds in a lending platform because it is wrong and you are gambling with your bitcoin investment and that is not smartness but a dumb thing to do.

I don't understand why any investor will acquire enough Bitcoin to the point of getting broke and use his bitcoin investment for collateral, it means that investor didn't plan his bitcoin investment journey properly and he doesn't have an emergency funds to take care of real emergency when it comes. This is the problem alot of newbies are facing, they forget that bitcoin investment is for long term and one needs to use only part of his discretionary income to invest in bitcoin for a long-term so that he can buy regularly and hodli for a long time time without selling part of his bitcoin when it is not of his own will.

I believe it's a wrong move allocating once Bitcoin as collateral for some loan amount, I consider it a weak thinking and should be avoided. This forum is one platform that is able by some members to give out loans, yet we've never or I personally haven't witnessed a situation where Bitcoin not just any asset is being given as per collateral even the person issuing the loaned amount never asks for Bitcoin as collateral. Now let's imagine given Bitcoin as a collateral which the sent amount will be equivalent to dollar value of the Bitcoin, that means If by any circumstances unable to meet up the loan return then the lender is left by no option than to take the collateral (Bitcoin), if the lender understands the value of Bitcoin and decides to hold, in few or more period he might be getting X2 of what was sent as collateral.

Bitcoin is worth more than using it as collateral to get little loan because you lack how to go about with your bitcoin journey in order for you to be able go hodli for a very long time. You should have a means of income which will enable you to take care of your monthly needs and whatever problem that might arise when you are investing in bitcoin and this is where emergency funds is very necessary to all bitcoin investors.

This is why it is not good for one to DCA over aggressively to avoid such thing like getting broke and using your bitcoin to take loan. This is the biggest risk I have ever heard about for someone to risk his bitcoin that he has taken his time to invest and build. It is better that you take a non collateral loan from your place of work or from people you know than using your bitcoin because you are the only person that can keep your bitcoin safe in your self custody wallet.