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    Author Topic: Bitcoin is risky  (Read 1573 times)
    Wind_FURY
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    August 25, 2024, 03:13:15 PM
     #121

    Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him.



    Bitcoin investment is risky due to its volatility. Investors should acknowledge that there are risks involved regardless of whether they invest in any of the coins in the cryptocurrency market. Bitcoin is no exception.


    It's absolutely volatile. But if you're merely HODLing Bitcoin with a low time-preference strategy, then would it actually be that risky?

    https://bitcoin.zorinaq.com/price/

    Quote

    New investors should keep in mind that investing in Bitcoin is not a get-rich-quick scheme. Newbies need to be experienced about investing and know about market analysis and market volatility before investing. OP If you are able to explain the difference between bitcoin and altcoin to your friend, he won't consider bitcoin as too risky. We may see in the crypto market Altcoins are more volatile than Bitcoin. Moreover, since the price of Bitcoin has continuously increased since its creation, many people may be tempted to invest in this currency by seeing this trend of price increase.


    Or fiat currencies, what they actually are, and the Cabal's predisposition to inflate its supply. I believe that will be enough to make his friend save some percentage of his/her salary in Bitcoin.

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