Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Fivestar4everMVP on March 24, 2024, 04:26:08 PM
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Hi guys and ladies of our Altcoins talk community, I greet yeah all...
I am coming with an observation and also a question, and this is for a very good friend mine (he possibly will join this community soon) but before I introduce this forum to him, I want us to discuss this here, your opinions, ideas, and possible suggestions may help in the current situation..
The observation...
Bitcoin at its current price of $65,000+(as at the time of writing this post) has actually become very expensive and unaffordable to most people around the world, most especially the low salary earners, and for someone who wishes or wants to make like a minimum of a hundred thousand dollars in profit; investing in bitcoin with minimal amount of money at $1000 max, it is like it's no longer possible; as Bitcoin will have to do alot of Xs, for a thousand dollar worth of bitcoin right now to worth a hundred thousand dollars or more in the future - I am not a mathematician, so I am not going to bore you with calculations I myself may not understand, but just incase we have someone here who is very good at math, then I would be happy to know at what price would a thousand dollar worth of bitcoin right now ($65,000) be worth a minimum of one hundred thousand dollars?.
The question...
I have this friend who is a salary earner, he works really hard and very diligent, and I personally like him and want the best for him for that reason alone, he complains almost all the time about his job and the level of stress involved, he wished he got a job in another company with better pay and less stress, but that is not forth coming, and I am sincerely hungry in my spirit to help him, but there is no other way to help him aside bringing him into crypto currency investment, for; crypto investment actually is what brought me also out of monthly salary dependency I once was in before.
I've talked to him on several occasions to start investing in crypto, most especially bitcoin, but he's always been very skeptical, and to convince him, I lied to him (though not lie but kind of), I told him that with a minimum of $1000 investment in crypto, he would forever retire from salary jobs and move into Starting and managing his own business, for in a space of 5 to 7 years, he would make nothing less than a hundred thousand dollars which will make him a multi-millionaire in our local currency - I myself is very comfortable, so he had no reason to doubt me.
Long story short, this dude finally managed to save up a thousand dollars, in fact, he said he borrowed about a hundred dollar to complete the money, and just today, he brought the money and asked me to invest it in crypto for him, and this really put me in a cross road right now, I am totally confused as to which crypto to invest the money for him, I initially was going to invest it in bitcoin, but I made him a promise that within 5 to 7 years, his $1000 would have turned to a minimum of a hundred thousand dollars, and thinking about this and not wanting to disappoint him, I am beginning to have double minds, as to whether to really invest that money in bitcoin or looks for some really good and promising Altcoins and invest the money there, I have some really good and undervalued altcoins I invested in myself, but since this is not my money, I have and want to be extremely careful where I put the money.
- Investing the money in bitcoin, the risk is very low, but there is a high chance I may not be able to fufil the promise I made to him, which he may find disappointing and lose trust in me.
- but investing the money in Altcoins, this is risky (and risk level varies between different Altcoins), but there a high possibility that I will be able to keep to the promise I made to him, if the Altcoin market does really well in the coming months, meme coins are perfect 👌 for this, but highly risky..
What do you guys think? And what are your valuable suggestions?
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There are a lot of flaws in this:
1. Giving him investment advice.
2. Telling him about unrealistic returns.
3 promising him that he can get a better life with crypto, he is surely seeing crypto as a get rich quick thing right now.
4. He borrowed money to make up $1k, and you didn't reprimand him not to ever borrow money to invest in crypto.
I recommend that you return the money back to your friend, if he wants to invest in crypto he should learn what crypto is all about before putting money into it.
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$1,000 investment in 5-7 years of timeframe I think investing half of it into Altcoins and the other half for Bitcoin will make it more profitable for long term. This is what I am recently been doing with my investments I diversified it into Alts and then Bitcoin as we all know that there is still an Altcoin season that need to be taken into consideration if we are talking about profits just like Bitcoin's bullrun which we can reap the fruit of our patience and investments.
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There are a lot of flaws in this:
1. Giving him investment advice.
2. Telling him about unrealistic returns.
3 promising him that he can get a better life with crypto, he is surely seeing crypto as a get rich quick thing right now.
4. He borrowed money to make up $1k, and you didn't reprimand him not to ever borrow money to invest in crypto.
I will have agree with you on your number 1 and number 3 point.
But will totally disagree with you on your number 2 and number 4 point.
To your number 2 point, a hundred thousand dollar from a $1000 investment is not unrealistic in crypto, I've seen some persons make much more than that investing in meme coins, and some other really good Altcoins, all it took was finding and investing in such coins at their really early and nothing stage.
To your number 4 point, money he borrowed is less than a $100, that is not much and I am sure he can easily pay this off without bothering about how his crypto investment is doing.
And for your information, borrowing to invest in crypto is not bad, as long as you a means of paying back the loan without depending of the investment, what is wrong is borrowing to invest when you have no primary or secondary means of paying back without getting the money back from the investment.
I recommend that you return the money back to your friend, if he wants to invest in crypto he should learn what crypto is all about before putting money into it.
Well, he's a special person and I just wanna do for him what I can't do for any other, hes actually not the first person I am bringing into crypto, but I am giving him some special kind of privilege, me investing this money for him does not mean he will not learn crypto the proper way, he's learning and doing really well at it.
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An almost similar story happened to me, but I did not lie to my friend and told him the truth and told him that investing in Bitcoin and cryptocurrencies may be profitable and may lead to losing all your money, and I left him to bear the responsibility for the investment decision himself.
Regarding your situation now, the best thing to do is to buy half the amount of Bitcoin and with the remaining half an altcoin that is eligible for launching, and if you get profits from this altcoin, you buy another amount of Bitcoin to ensure that your friend’s money is safe.
But you should do your own research carefully before purchasing Altcoin
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It's best to invest what you can afford to lose, but I'd always recommend investing in Bitcoin for a $1,000 investment, whether it's your friend's or yours. There is no other investment above Bitcoin investment. I always consider Bitcoin investment as the way to get the highest profit because seasonality has shown that if Bitcoin has constantly increased by 4 to 10 percent, unique coins have not increased much. So if someone invested 1000 dollars in bitcoin they got a lot more return than that 1000 dollars today although some talks also came up but many people think altcoin investment is too risky in that case i don't recommend to invest in altcoin i just recommend to invest in bitcoin So that an investor can get more returns with less risk.
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$1000 is a big amount it is a good start but the problem like you said it's very hard to choose which coin/token or Bitcoin should you invest that's a pretty hard question.
For me, I suggest diversifying your investment is the best option, don't just focus on Bitcoin take note of other altcoins and tokens they are volatile but if you are smart knows about how to do scalping or swing trading using MA then you can grow your account and make a profit for every price movement of altcoin/tokens compared to Bitcoin.
Learning basic trading is the best thing that I could recommend because this is what I am doing right now. And only choose coins/tokens with high volume and make sure to always set a stop-loss.
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To your number 2 point, a hundred thousand dollar from a $1000 investment is not unrealistic in crypto, I've seen some persons make much more than that investing in meme coins, and some other really good Altcoins, all it took was finding and investing in such coins at their really early and nothing stage.
I have seen more persons lose that amount and much more in crypto, especially when they invest in altcoins. You talk about meme coins and 'really good altcoins', how do you pick what is a good altcoin, the chances of making the returns you told him is so slim and that makes it kind of unrealistic.
And for your information, borrowing to invest in crypto is not bad, as long as you a means of paying back the loan without depending of the investment, what is wrong is borrowing to invest when you have no primary or secondary means of paying back without getting the money back from the investment.
Each to their own on this. I would never recommend borrowing to invest in crypto, just because of how volatile it is, but who am i to tell people what to do.
Well, he's a special person and I just wanna do for him what I can't do for any other,
What you wanna do can ruin friendships if it does not go in the way you told him it will. Goodluck anyway!
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The thing with Altcoins is that they are more volatile as compare to Bitcoin. However, with that, they can also gave more than what Bitcoin can achieved in this bull run. So risk and reward here, which altcoin to invest that will give you more? And with that, I would just look at the solid altcoins in the top 10, not meme coins. Meme coin could be a hit or miss as we all know that they are going to be used as p&d. But there could be solid altcoins that are still way below their previous all time high and so still good to invest in my opinion. And if you get a chance to choose what it is and then after halving this year it went on a good parabolic rise, then the reward is worth it. Or then if you can get back here want altcoins you choose then we can monitor it all together. Best of luck to you.
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from $1000 to $100,000 This is approximately 100 times the amount, and regardless of the type of investment in cryptocurrency, you will not achieve such a profit in 10 years just for the sake of investing. You need to trade and be an expert in trading.
Start with realistic things, which is that the price of Bitcoin in a year and a half from now may reach more than $120,000, and therefore $1,000 can easily rise to $2,000. He can then sell it to USDT and buy Bitcoin again when the price is $60,000 and wait about 4 years, then it will be $7,000 at best, meaning 7 times the price over 5 years.
If he wants to trade, he must learn how to do it, as you cannot trade for him. the best advice is to learn more about investing and buy 80% Bitcoin, 10% Ethereum, and risk 10% in any Layer2 tokens.
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There are a lot of flaws in this:
1. Giving him investment advice.
2. Telling him about unrealistic returns.
3 promising him that he can get a better life with crypto, he is surely seeing crypto as a get rich quick thing right now.
4. He borrowed money to make up $1k, and you didn't reprimand him not to ever borrow money to invest in crypto.
I recommend that you return the money back to your friend, if he wants to invest in crypto he should learn what crypto is all about before putting money into it.
Bro, you noticed everything correctly, but it’s simply impossible to convince people, they see the chart and think that they can do just that (buy at the bottom and sell + 10,000%) this happens, but mostly not with beginners, personally, I generally think that 1000 dollars is not money for investment, you need to have at least 100k and everything below should be used only for trading and not for investing, but you need to learn trading the right way and not by watching a couple of videos on YouTube))
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personally, I generally think that 1000 dollars is not money for investment, you need to have at least 100k and everything below should be used only for trading and not for investing,
I disagree, what i pointed out to the op has nothing to do with the amount of money in question, but the unrealistic returns and other flaws too. Surely you can start buying coins with $1k and below, you can even use dca method to accumulate BTC at your own speed, you must not have $100k. Take note too that trading is risky and i don't recommend it to newbies, so they don't lose all their money before they even get started.
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Actually, instead of investing the entire amount at once, I think that the fund should be divided into several parts, find a good dip and invest. Moreover, I will divide the investment into two, 80% will be for holding Bitcoin and 20% will be kept for holding altcoins(Like on polygon matic).
Moreover, I will continue to invest some amount of my income in bitcoin on a regular weekly or monthly basis by following the DCA method. Moreover, currently I think it is not time to invest the total amount fund at once because Bitcoin was at perfect dip around 30k a few days ago. But Bitcoin investment will not go in vain because he can still invest if he wants.
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personally, I generally think that 1000 dollars is not money for investment, you need to have at least 100k and everything below should be used only for trading and not for investing,
I disagree, what i pointed out to the op has nothing to do with the amount of money in question, but the unrealistic returns and other flaws too. Surely you can start buying coins with $1k and below, you can even use dca method to accumulate BTC at your own speed, you must not have $100k. Take note too that trading is risky and i don't recommend it to newbies, so they don't lose all their money before they even get started.
Right. Buying coins with even $1000 can think of it as an investment and buy again when money comes in to buy more. Every investor has their own strategy according to their ability, there is no need to have a $100k fund. And yes DCA method is definitely effective for a small investor, as he can build a portfolio according to his ability, which can give him a big return over a period of time. So even if the size of the fund is small, a good strategy can bring good returns to an investor.
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personally, I generally think that 1000 dollars is not money for investment, you need to have at least 100k and everything below should be used only for trading and not for investing,
I disagree, what i pointed out to the op has nothing to do with the amount of money in question, but the unrealistic returns and other flaws too. Surely you can start buying coins with $1k and below, you can even use dca method to accumulate BTC at your own speed, you must not have $100k. Take note too that trading is risky and i don't recommend it to newbies, so they don't lose all their money before they even get started.
Yes, trading for beginners is very risky, but it is necessary to understand that trading is not a fun and it is a profession that must be learned, here I certainly did not finish this point and I can not but agree with you and talking about profit, how much you will earn investing 1000 dollars? In trading you can trade with shoulders ( yes it is a risk ) but we do not forget that trading is not a toy and first we learn and then we trade.
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$1,000 investment in 5-7 years of timeframe I think investing half of it into Altcoins and the other half for Bitcoin will make it more profitable for long term. This is what I am recently been doing with my investments I diversified it into Alts and then Bitcoin as we all know that there is still an Altcoin season that need to be taken into consideration if we are talking about profits just like Bitcoin's bullrun which we can reap the fruit of our patience and investments.
like what we use to have long now and that is what we called diversification kabayan , i have done that and still doing this because i know that Single investing in bitcoin is not that profitable for me nowadays , because like what we have seen altcoins sometimes has their gaining more than what bitcoin is earning (altcoin season)
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$1,000 investment in 5-7 years of timeframe I think investing half of it into Altcoins and the other half for Bitcoin will make it more profitable for long term. This is what I am recently been doing with my investments I diversified it into Alts and then Bitcoin as we all know that there is still an Altcoin season that need to be taken into consideration if we are talking about profits just like Bitcoin's bullrun which we can reap the fruit of our patience and investments.
Yes diversification is much more important for multiplying your invested amount therefore don't invest in just a single alctoin as it will become unsafe for you. Invest half in bitcoin and half in etheruem, BNB, solana and matic.
Altcoins are also higher profitable and many people have earn huge money with altcoins investment so don't be afraid of taking risk as every altcoin does not posses the risks and many of them grow back after experiencing a dip. Take profit from both bitcoin and altcoins as they can provide us huge payback in few months.
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$1,000 investment in 5-7 years of timeframe I think investing half of it into Altcoins and the other half for Bitcoin will make it more profitable for long term. This is what I am recently been doing with my investments I diversified it into Alts and then Bitcoin as we all know that there is still an Altcoin season that need to be taken into consideration if we are talking about profits just like Bitcoin's bullrun which we can reap the fruit of our patience and investments.
This strategy will not work in the case of OP.
Remember @Fivestar4everMVP's friend is not well versed in crypto so if he should try to diversify his wallet by buying altcoins he'll onyl end up with nothing at the end of the year, unless the Op is willng to take charge of everything that goes on i.e watch, research on the coin to be bought, etc... If not it will be a disaster.
@Fivestar4everMVP, there are so many ways in which this could go wrong, and I'm sure you'll be the one that is blamed for it. From what you wrote, I see that this friend of yours currently does not know the risk involved in this type of investment that he's about to enter. All he knows is that he's about to venture into a land filled with milk and honey. In the next 10 years, he'll be a multi-millionaire, and that is not good.
Before you take another step forward, just try to sit him down and lecture him about the risk involved and that he should make sure that the money he's about to invest won't be needed or anything anytime soon (since he's going to be holding his coins).
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I don't mean to blame you for what you did but you shouldn't have done it that way. The very first thing that you should have done after suggesting cryptocurrency investments to your friend was to tell him the risks involved because you can't tell someone that they will get guaranteed profit and there will be no loss at all because that isn't true, cryptocurrencies don't just gain value but they lose value as well.
Even if an investment in Bitcoin for the long term tends to provide the investor some profit, it doesn't mean you should tell someone that they are going to get a significant amount in return for a certain amount invested. For someone to get more than $100k in 5 to 7 years with just a $1000 investment, Bitcoin will need to go up 100x from the point they invest in it, if it's at $65k, it will have to touch $6.5m for them to achieve their target.
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@Fivestar4everMVP, there are so many ways in which this could go wrong, and I'm sure you'll be the one that is blamed for it. From what you wrote, I see that this friend of yours currently does not know the risk involved in this type of investment that he's about to enter. All he knows is that he's about to venture into a land filled with milk and honey. In the next 10 years, he'll be a multi-millionaire, and that is not good.
Before you take another step forward, just try to sit him down and lecture him about the risk involved and that he should make sure that the money he's about to invest won't be needed or anything anytime soon (since he's going to be holding his coins).
Need further education, because many beginners almost appear when the market is bullish, like today.
Expect an investment that always goes up and makes him a multi-millionaire in just a few days or a few months.
But in reality it will not go smoothly, all will definitely have obstacles.
It is feared that when the market crashes and the value of the asset according to it will make him panic.
No adventure is quite as sweet as in a land full of milk and honey, it will only be an imaginative peak that will not be realized.
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Some time ago I went through similar things, and that experience taught me never to do that again. :(
- First of all, you have to be sure that he is ready to lose that money and that he can't blame you for it.
- You must be sure that he has learned the basics about cryptocurrencies, how they are converted to fiat (and vice versa), and the importance of choosing the right wallet and keeping coins.
- He must be able to follow the market and at some point make an exit strategy. Whether it is for part of the portfolio or the whole is a matter of assessment.
- Do not promise that you will do it for him.
- I would not suggest below the minimum 50% belonging to Bitcoin in the portfolio. 40% can be in some "safe" alt currencies like Ethereum, Solana, etc... And only 10% in something more risky, which can bring a significantly higher percentage growth.
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I've talked to him on several occasions to start investing in crypto, most especially bitcoin, but he's always been very skeptical, and to convince him, I lied to him (though not lie but kind of), I told him that with a minimum of $1000 investment in crypto, he would forever retire from salary jobs and move into Starting and managing his own business, for in a space of 5 to 7 years, he would make nothing less than a hundred thousand dollars which will make him a multi-millionaire in our local currency - I myself is very comfortable, so he had no reason to doubt me.
I want to believe that we don't have to lie for other people to be convinced of making investment in bitcoin, we have the result to show in us and if they really have eyes, they should be able to see the benefits of adoption of bitcoin in us and that alone speaks more on our behave in convincing them to give a try in other for them to have a kind of result that we have, we shouldn't force or persuade anymore to what is going to be of benefits to him, they have to make their own decision by themselves to adopt bitcoin.
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Before reading other users' comments, I would like to share mine. Truly, I consider convincing someone in the form of lying a terrible and ugly idea. This idea has been a major problem for the crypto community because it tarnishes its reputation when things are not going well for the supposed investor. The volatility of the market itself puts everyone at risk, aside from the fact that you are even suggesting a $1K investment with a promising future return of tens of thousands.
You should know that in the crypto space, prices of Bitcoin and altcoins can fluctuate, moving both upward and downward. $1000 might find it difficult to reach tens of thousands in 5 years based on logical and past evidence. You should reconsider your actions and be ready to take the blame if anything goes wrong with the investment.
It would make more sense if I leave my own possible solution in this context. If you were so interested in helping someone with financial decisions, then altcoin projects would have been better suited, but there won't be any assurance that 5 years holds a promising tens of thousands return, as you mentioned.
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and talking about profit, how much you will earn investing 1000 dollars?
It is possible to earn something 'realistic' if you buy BTC and hold it for a long time, i am not saying you will become rich after investing that amount, but you can earn returns on investment if you are patient.
Trading may give more profits, but it comes with more risks. I would rather recommend that people start with BTC, no matter how small the amount is, and they can grow their portfolio at their own pace.
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$1,000 investment in 5-7 years of timeframe I think investing half of it into Altcoins and the other half for Bitcoin will make it more profitable for long term. This is what I am recently been doing with my investments I diversified it into Alts and then Bitcoin as we all know that there is still an Altcoin season that need to be taken into consideration if we are talking about profits just like Bitcoin's bullrun which we can reap the fruit of our patience and investments.
If I plan to invest for a long time with 1000 dollars, I will invest 80% of the 1000 dollars in Bitcoin and the remaining 20% I will invest in ALT coins. If I invest eighty percent of my total money in Bitcoin, I will definitely hold that investment for a long time and I don't care if I have profit or loss while holding it, but if I get some profit in ALT coin, I will sell my investment. If you invest in ALT coin and hold it for a long time, it may not be possible to get the same profit as Bitcoin, that's why I will sell it at a small profit and invest again, but my 80% Bitcoin investment must be a long-term plan.
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and talking about profit, how much you will earn investing 1000 dollars?
It is possible to earn something 'realistic' if you buy BTC and hold it for a long time, i am not saying you will become rich after investing that amount, but you can earn returns on investment if you are patient.
Trading may give more profits, but it comes with more risks. I would rather recommend that people start with BTC, no matter how small the amount is, and they can grow their portfolio at their own pace.
If we consider investments from the side of usual accumulation of deferred (small) money from the salary, then ok it is possible to do so and even necessary, but this person can not be called an investor, as well as can not be called a trader who stupidly presses buy/sell without understanding what he does.
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From what I saw in your story, you are just worried about your friend, and you just want to somehow help him, and I don't see anything wrong with that. There is only one thing that I saw that seems to be wrong in what you said: that you gave a guarantee that the $1,000 that he will release for this will be $100,000.
You are quite wrong on that point; you shouldn't have said that because you know that Bitcoin is volatile and the market is unpredictable. Then, now that you see as a result of what you did that you are now the one in trouble, maybe it's better to tell him the truth or just return the $1,000 that he entrusted to you, or you can also explain correctly that the $1,000 can grow and it is also possible that its profit is not that big in the short period of time.
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You are quite wrong on that point; you shouldn't have said that because you know that Bitcoin is volatile and the market is unpredictable.
Op did not limit the investment to just BTC, but to altcoins too. However, the point remains the same, the market is unpredictable and the returns looks unrealistic to me, i would not recommend this to a friend, for the risk of ruining our friendship, i don't even tell people to buy BTC, i can only help them understand what exactly BTC is.
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You are quite wrong on that point; you shouldn't have said that because you know that Bitcoin is volatile and the market is unpredictable.
Op did not limit the investment to just BTC, but to altcoins too. However, the point remains the same, the market is unpredictable and the returns looks unrealistic to me, i would not recommend this to a friend, for the risk of ruining our friendship, i don't even tell people to buy BTC, i can only help them understand what exactly BTC is.
Exactly, market conditions are very fluctuating and cannot be predicted accurately, even Bitcoin price movements are like that. It's better that you don't need to tell them that you are also trading cryptocurrency so as long as you can maintain it well, your friendship will still remain. good, because as you said, cryptocurrency can destroy anything including friendships.
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What do you guys think? And what are your valuable suggestions?
I liked the way you care about him, well I must say you should not have told a lie about a $1000 investment that turned into $100k in just 5 to 7 years. If that person is already under stress and under huge pressure from both work and the economy then don't suggest him to invest money in something that is already so up, It would make sense when the BTC rate was at $30k. But now it just no make sense. I would say alts are the only options remain there.
But still it don't matter how much you make him and lose him, the main point should be is he getting any type of real experience from this journey, I mean is he learning anything at all or not, If you have to keep the funds, and take care of it, then I don't think that your partner or friend is learning anything at all. Ask him to take care of the funds by himself, and share him the true face of the market as well. Otherwise you will lose his trust.
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and talking about profit, how much you will earn investing 1000 dollars?
It is possible to earn something 'realistic' if you buy BTC and hold it for a long time, i am not saying you will become rich after investing that amount, but you can earn returns on investment if you are patient.
Trading may give more profits, but it comes with more risks. I would rather recommend that people start with BTC, no matter how small the amount is, and they can grow their portfolio at their own pace.
If we consider investments from the side of usual accumulation of deferred (small) money from the salary, then ok it is possible to do so and even necessary, but this person can not be called an investor, as well as can not be called a trader who stupidly presses buy/sell without understanding what he does.
From my understanding anyone who involved himself or herself into bitcoin investment must have come across a basic knowledge of buy and sell before they can starts their investment. Any amount someone used to buy and hold bitcoin can be classified as an investment irrespective of how much he invested, because not everyone has that capacity to invest massively as others did, maybe with time such person can keep accumulating much percentage as time goes.
Should respect everyone investment, if you invested $1m worth of bitcoin and another person invested $1B worth of bitcoin, this doesn't mean your investment doesn't count but the only difference is the capital invested and you both invested what you can afford to risk. The thing is, everyone invested according to their capacity of income and risk factor.
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and talking about profit, how much you will earn investing 1000 dollars?
It is possible to earn something 'realistic' if you buy BTC and hold it for a long time, i am not saying you will become rich after investing that amount, but you can earn returns on investment if you are patient.
Trading may give more profits, but it comes with more risks. I would rather recommend that people start with BTC, no matter how small the amount is, and they can grow their portfolio at their own pace.
If we consider investments from the side of usual accumulation of deferred (small) money from the salary, then ok it is possible to do so and even necessary, but this person can not be called an investor, as well as can not be called a trader who stupidly presses buy/sell without understanding what he does.
From my understanding anyone who involved himself or herself into bitcoin investment must have come across a basic knowledge of buy and sell before they can starts their investment. Any amount someone used to buy and hold bitcoin can be classified as an investment irrespective of how much he invested, because not everyone has that capacity to invest massively as others did, maybe with time such person can keep accumulating much percentage as time goes.
Should respect everyone investment, if you invested $1m worth of bitcoin and another person invested $1B worth of bitcoin, this doesn't mean your investment doesn't count but the only difference is the capital invested and you both invested what you can afford to risk. The thing is, everyone invested according to their capacity of income and risk factor.
We are talking and comparing not a million with a billion, 100 dollars with 10k dollars, these are completely different money, I will not argue further, if you or anyone else wants to call yourself an investor investing 100 dollars, then let it be so, the main thing is to understand that with the help of such investments will not get you a good future, such (small money) should be invested only in yourself and not Bitcoin, I mean that it should be spent on training and not stupidly buy Bitcoins and move on (for example) to dig holes working for your uncle.
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The most important issue that comes up in both Bitcoin and Altcoin investments is risk. There is no risk in investing in Bitcoin but there is definitely risk in investing in altcoins. You can allocate the biggest part of your investment to Bitcoin investment but you must be careful while investing in altcoins especially before investing you should check whether the altcoin is Shitcoin. However, due to the bright future of Bitcoin, if you invest in Bitcoin, you will definitely get more profit in the future and there is definitely a guarantee that you will get this profit.
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Since you compared alot coin with bitcoin, I would favor bitcoin in this one. Because since 2009, Bitcoin has faithfully survived the market and no matter how low its price is, it can recover again and recover the benefits. So I think employing Bitcoin AB will have a very low chance of loss if the investment is long-term. Because there are more positive aspects such as Bitcoin halving is held after four years and the price is several times higher than before. If you notice that every halving you will notice that Bitcoin must have set a new record. So I say investing in Bitcoin is the safest and most profitable.
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$1,000 investment in 5-7 years of timeframe I think investing half of it into Altcoins and the other half for Bitcoin will make it more profitable for long term. This is what I am recently been doing with my investments I diversified it into Alts and then Bitcoin as we all know that there is still an Altcoin season that need to be taken into consideration if we are talking about profits just like Bitcoin's bullrun which we can reap the fruit of our patience and investments.
Yes you told absolutely correct i think. Because if he Bought 50% Bitcoin and 50% Altcoin he will be risk less i think. Investment on bitcoin is more safe but profit margin will less then Altcoin i think.
We saw some Altcoin increased huge like 10x,20x and so on. It also true that Altcoin investment is too risky than Bitcoin investment. So i well tell to invest on Bitcoin 50% and Altcoin 50% is better.
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It's best to invest what you can afford to lose, but I'd always recommend investing in Bitcoin for a $1,000 investment, whether it's your friend's or yours. There is no other investment above Bitcoin investment. I always consider Bitcoin investment as the way to get the highest profit because seasonality has shown that if Bitcoin has constantly increased by 4 to 10 percent, unique coins have not increased much. So if someone invested 1000 dollars in bitcoin they got a lot more return than that 1000 dollars today although some talks also came up but many people think altcoin investment is too risky in that case i don't recommend to invest in altcoin i just recommend to invest in bitcoin So that an investor can get more returns with less risk.
If the cost-earned money is kept in some weak altcoins then after a long time you can return empty handed. Because there are many altcoins that could be primed for a bull market. But there is no alternative to investing in Bitcoin for assurance in this respect. Even a small investment in Bitcoin can be worthwhile over a long period of time, but it is different for altcoins. I invested $1000 in an altcoin and after a bull market the price may drop drastically and the coin may disappear in the next bull market. If you invest $1000 in Bitcoin and hold it, when the price of Bitcoin rises to $200k dollars or more, the value of this $1000 will increase and it will never be lost it's value in the long run.
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- Investing the money in bitcoin, the risk is very low, but there is a high chance I may not be able to fufil the promise I made to him, which he may find disappointing and lose trust in me.
- but investing the money in Altcoins, this is risky (and risk level varies between different Altcoins), but there a high possibility that I will be able to keep to the promise I made to him, if the Altcoin market does really well in the coming months, meme coins are perfect 👌 for this, but highly risky..
What do you guys think? And what are your valuable suggestions?
I don't have any advice, because I always avoid having to manage other people's capital in the crypto market, I don't even dare to give investment advice or share my investment views. People who are profitable often think they are talented, people who lose will find a way to blame others when possible, whether it is friends, family or someone on Youtube...
Even for an investment in BTC or ALTS, even if the profit:risk ratio is 10:1, I don't dare risk my good relationship. I'm even afraid that in case my friend loses, his or my life will also be threatened :P
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Hi guys and ladies of our Altcoins talk community, I greet yeah all...
I am coming with an observation and also a question, and this is for a very good friend mine (he possibly will join this community soon) but before I introduce this forum to him, I want us to discuss this here, your opinions, ideas, and possible suggestions may help in the current situation..
The observation...
Bitcoin at its current price of $65,000+(as at the time of writing this post) has actually become very expensive and unaffordable to most people around the world, most especially the low salary earners, and for someone who wishes or wants to make like a minimum of a hundred thousand dollars in profit; investing in bitcoin with minimal amount of money at $1000 max, it is like it's no longer possible; as Bitcoin will have to do alot of Xs, for a thousand dollar worth of bitcoin right now to worth a hundred thousand dollars or more in the future - I am not a mathematician, so I am not going to bore you with calculations I myself may not understand, but just incase we have someone here who is very good at math, then I would be happy to know at what price would a thousand dollar worth of bitcoin right now ($65,000) be worth a minimum of one hundred thousand dollars?.
The question...
I have this friend who is a salary earner, he works really hard and very diligent, and I personally like him and want the best for him for that reason alone, he complains almost all the time about his job and the level of stress involved, he wished he got a job in another company with better pay and less stress, but that is not forth coming, and I am sincerely hungry in my spirit to help him, but there is no other way to help him aside bringing him into crypto currency investment, for; crypto investment actually is what brought me also out of monthly salary dependency I once was in before.
I've talked to him on several occasions to start investing in crypto, most especially bitcoin, but he's always been very skeptical, and to convince him, I lied to him (though not lie but kind of), I told him that with a minimum of $1000 investment in crypto, he would forever retire from salary jobs and move into Starting and managing his own business, for in a space of 5 to 7 years, he would make nothing less than a hundred thousand dollars which will make him a multi-millionaire in our local currency - I myself is very comfortable, so he had no reason to doubt me.
Long story short, this dude finally managed to save up a thousand dollars, in fact, he said he borrowed about a hundred dollar to complete the money, and just today, he brought the money and asked me to invest it in crypto for him, and this really put me in a cross road right now, I am totally confused as to which crypto to invest the money for him, I initially was going to invest it in bitcoin, but I made him a promise that within 5 to 7 years, his $1000 would have turned to a minimum of a hundred thousand dollars, and thinking about this and not wanting to disappoint him, I am beginning to have double minds, as to whether to really invest that money in bitcoin or looks for some really good and promising Altcoins and invest the money there, I have some really good and undervalued altcoins I invested in myself, but since this is not my money, I have and want to be extremely careful where I put the money.
- Investing the money in bitcoin, the risk is very low, but there is a high chance I may not be able to fufil the promise I made to him, which he may find disappointing and lose trust in me.
- but investing the money in Altcoins, this is risky (and risk level varies between different Altcoins), but there a high possibility that I will be able to keep to the promise I made to him, if the Altcoin market does really well in the coming months, meme coins are perfect 👌 for this, but highly risky..
What do you guys think? And what are your valuable suggestions?
If I were to advise you, I would definitely recommend investing in Bitcoin. Because I know that investing in Bitcoin is very low risk and if you keep calm you can definitely reap huge benefits from it. So it is definitely possible to be profitable to invest with Bitcoin regularly, because the current price of Bitcoin is so low that you can be considered part of the investment right away
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If I were to advise you, I would definitely recommend investing in Bitcoin. Because I know that investing in Bitcoin is very low risk and if you keep calm you can definitely reap huge benefits from it. So it is definitely possible to be profitable to invest with Bitcoin regularly, because the current price of Bitcoin is so low that you can be considered part of the investment right away
I sure agree with you bud, but what I do disagree with is that the current price of bitcoin is low. Current price if bitcoin is only low if you are a money bag, that is someone with lots of money and that you literally afford to by up to or more than 1000 bitcoin at a go, or may I should just bring that number down to maybe 100, or 50 bitcoin, what about 10 or even 1 bitcoin, how about 0.5 bitcoin?
Right now, we can not afford any of this metioned number of bitcoins, which definitely means that, for us, bitcoin is no longer cheap at all..
But I sure agree that Bitcoin is currently the crypto asset with the lowest risk, if at all actually, but then, don't you think it's nice to take risks at times? It is commonly said that, we either take the risk and join the millionaires, or remain and possibly die in poverty, what do you think?