Don't bet your life on Bitcoin

[yonkii 3205]

On 12/6/2019 at 12:49 AM, ultimateclub said:

Your safest bet is to buy up and store small amounts of btc over a period of time to save for some rainy day just in case. But don't bet your life on it.

I think that this is what I am trying to do. Buying small and between some time from each investment helps to have better control of the risk. Also helps people like me that are students and don't have any income but collect some money from some places and want to invest in Bitcoin and make profit in time.

[annayks 2314]

I never had this intention but it is something that we can' skip forever. Price of Bitcoin at least for the following ten years will be increased from where it is today. This is how things are, if it drops and doesn't perform then it will be a failed investment and will be abandoned. We have to know the risks.

[zhoutong 2188]

We don't need to go in these lengths. There can be anything that will happen, even a worldwide pandemic and lockdown for months. Who would expect this unless some were planning it. It is not easy to predict anything we just go with the flow and the trend on our investments.

[Jandancoin 482]

On 11/25/2020 at 8:51 AM, Shilii3 said:

The reason why Bitcoin doesn't bet on your life is because your life I think is more valuable than Bitcoin Your life is more valuable to you If you make money somewhere in life you can earn Bitcoin It's not a big deal

But I will like to say that I can hold bitcoin, I am certain that I will gain, this is the type of bet. But for making money, I will not advice anyone to really put mind on bitcoin, that is why some people just go for bitcoin day trading and started to lose. What that suppose to be for fun so the trader can have good opinion about trading. 

[Mella 3680]

On 12/6/2019 at 12:49 AM, ultimateclub said:

So my prediction is 2020 will not see much change.

I am not like to say you were wrong dear but I am join this year because I was see in the chart the exactly opposite from you. I was felt that Bitcoin was high in the January and February and did not buy but after the fall I was though it was an opportunity. Now I am grab it and move from there.

[JanBomCrypto 494]

52 minutes ago, Mella said:

I am not like to say you were wrong dear but I am join this year because I was see in the chart the exactly opposite from you. I was felt that Bitcoin was high in the January and February and did not buy but after the fall I was though it was an opportunity. Now I am grab it and move from there.

Bitcoin price will always be high for traders that do not know how to trade, but the good ones take advantage of the fall, bitcoin truly fall in March but now gone 4x or more. Good traders bought bitcoin at the time and now gained. 

[kryptonick 2659]

Nobody is saying to bet your life on Bitcoin. In fact people are always saying the opposite, to be very careful and cautious and not make extreme bets on this market because of the high volatility and the risk of losing money. We always call people to do research and make their own conclusions. Although there is a bunch of internet trolls or shills that they are being disgusting and have nothing to do with Bitcoin but they make people put off from their reactions.

[melikf78 987]

I've never liked prediction and bet and I've always said you should never invest all of your savings on one coin even if its btc.i know someone who sold his house to buy btc but then he lost all of his money and also lost his house because he didn't know what is he doing .

[Sykkuno 2887]

We can't bet too much anyway, we always have to invest money that will not change our live and if we lose we will not need to have trouble. It is not recommended and investing needs to diversify to many assets, there is gold and stocks and we can't only focus on one asset.

[Pranto1 40]

I think this i's true.Trading with Bitcoin is based on speculates and many investors but its price is a huge volume and we saw incredible and huge pumps and dumps some times. So do not invest all the money.It does not really risk your life on true Bitcon, because nobody knows whether Bitcoin will be for a long time, so you do not have to create any other plans as well as cryptocoursey. 

[jackycrypto485 1055]

I do not agree with you opinion that Bitcoin's value is determined by the value of the electricity needed to mine it, this is not correct from my point of view, we have seen big changes in the prices of Bitcoin while electricity prices are fixed in most countries, which determines the price of Bitcoin is supply and demand and not electricity, if electricity is what determines Bitcoin price The price of Bitcoin would have decreased dramatically as a result of the use of clean energy or reduced electricity bills, but on the contrary, the value of Bitcoin has risen to about $ 19,000.
The main reason is that many major companies such as Paypal have adopted Bitcoin and the expansion of the global acceptance of Bitcoin as a currency and a store of value as well as a safe haven, this has increased the value of Bitcoin a lot and its price has increased and I think that will continue with the increase in the global adoption of Bitcoin as a store of value.

[JanBomCrypto 494]

11 hours ago, Jaak05 said:

So not all money should be invested in bitcoin

If someone invested ball his money on bitcoin, that is not good and not professional at all. It is good to have some in stable coins that will be a safe haven if the price of bitcoin is falling. I will suggest stable coin because all other unstable coins do fall and rise rhythmically with bitcoin. 

[joemcgwa 3227]

Sure there have people who just betting heir life in bitcoin by investing all their assets to bitcoin and waiting to see if they will be successful or they will lose, and when they are investing at the time they have no any knowledge.

[Onden 2098]

I agree with you that bitcoins are a good store of value until maybe 2050, we can store small amounts of bitcoins for a few years, but don't risk your whole life on Bitcoin because it's not good. We also have to anticipate all the possibilities that exist.

[guatazoo 7150]

People when entering into the crypto world they come with no knowledge, so what's they are doing in trading is to be predicting the bitcoin price, so this is like to bet their life. 

[teebasas 3018]

Yeah, having to just solely rely on Bitcoin won't really be wise enough to that total commitment on it, that's why we normally have a day job or others as to be a primary source of income but it's good doing both and be successful at them all.

Edited January 3, 2021 by teebasas

[Goyaa 2414]

Don't bet everything on bitcoin even though I predict that bitcoin will be the best store of value in 2035. Even so, we also have to pay close attention to all the money risks that are in bitcoin because if there is a big drop we will definitely panic. Invest as much bitcoin as you can and always be aware of all the risks so you don't lose money.

[Mir Hamza 2888]

I agree with you. Because Bitcoin is a cryptocurrency with very fast price fluctuations. As we can all see that 4 years ago, the price of bitcoin had fallen to a great extent and during this time many people were at a loss who bought bitcoin at a very high level. And as we have just seen that the price of bitcoin has increased substantially this year as we can see now that the price of bitcoin is still more than $ 32000.