Quote from: Justbillywitt on September 16, 2024, 06:34:56 PM

Quote from: adultcrypto on September 16, 2024, 01:33:57 PM

Quote from: letteredhub on September 15, 2024, 11:59:28 PM

Quote from: Ludmilla_rose1995 on September 15, 2024, 04:54:58 PM

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 platform, they are very smart because they realize that there are only 21 million Bitcoins and the amount cannot be increased or decreased.

No, no, no! Anyone using his bitcoin investment as a collateral is no worth regarding as smart because it makes no sense using your bitcoin to take loan on fiat. This is why we are advised to while planning on investing for a long time we also have a reliable income source if possible a stream's of income in order to avoid finding yourself in a messy situation where you would have to make such unwise decision because it's like telling an investor to stake his bitcoin for an altcoin.

How the discussion moved from buying bitcoin for long term holding to loan is what baffles me. The discussion have completely shifted to a new ground that is more or less a distraction. Why would someone doing DCA, for instance, consider taking a loan? The mere though of it simply means that the investor does not really have the cashflow needed to sustain a bitcoin investment for long term so investing in bitcoin may not be the best decision for him but to fix the cashflow. To succeed in bitcoin investment, there should be plans for emergency fund which will serves to keep the investment going when there is some development that requires money which was not seen or planned for in beginning. Without emergency funds, the investment is continuously exposed to risk. Taking a long is never in any of the process of healthy bitcoin investment.

The truth is any person that's taking loan to invest in Bitcoin shows that the person is not in for the long term. The person is basically in for the short term profit and is looking for every little opportunity to make little money by trading off the Bitcoin holding. Because the moment there is a little bullish tend and he see little profit, he/she will sell off the Bitcoin holding to repay the loan. Such people shouldn't be seen or considered as an investor. Because the approach adopted in the first place is not that of an investor but that of traders, because only traders will have that kind of mentality. And these set of people will never listen to what other people will tell them. That's why I don't give a fuck about them when they run into trouble eventually.

You are actually correct I mean that's what most people practice or do nowadays but then again, what if there expectations is or are been cut short I mean after loaning to buy Bitcoin hoping to see a bullish movement or market but unfortunate becomes the case what will happen to them. Most people will never learn in this life that's for sure and doing this simply means one don't know how Bitcoin works and i also see it as an unwise act the fact that Bitcoin is one of the best asset so far, with good potential doesn't me we should go about it in the wrong way. I believe there's always a best way to go about everything and for Bitcoin I think the best way to go about it is to invest and hold for long term no matter the amount you are using to...