I don’t want to try any other stocks, ETFs, or crypto. I think Bitcoin is the best option for me. I am trying to learn more about Bitcoin on YouTube, so I invested $3,000 and plan to invest more. I am not taking big risks; I am just experimenting. Is it good or bad that I am sticking only with Bitcoin?
This is not advice seeking Post (just for discussion)
I only invest in bitcoin ? Is it good for me?
byu/sheikhism007 inBitcoin
Posted by sheikhism007
39 Comments
Bad.
Yes, that’s the best thing… everyone will find their way to Bitcoin sooner or later, but it won’t be so cheap anymore.
Invest in growing businesses, save in Bitcoin. In your perspective, that saving is “investing” but Bitcoin is not just speculation anymore but store of earned value.
Work, save in Bitcoin, use some income to invest in actual growth companies where business is behind or broad market funds. It’s the best equilibrium.
Also, for “cash cushions” and “emergency buffer”, you can use STRC in the FIAT world.
Some diversification is always good but if you a certain you’ve got 10 years+, statistically I think it’ll work out fine.
Never put all your eggs in one basket. Diversify.
I don’t think it’s black or white. Going 100% Bitcoin isn’t automatically stupid, but it’s also not low risk like people pretend. BTC can be great long term, but the swings are real and they mess with your head if all your money is there.
you are actually smarter than next-gen token chasers, IMHO. Keep it up mate..
This sub might be somewhat biased towards this question
Hey anyone from India who is interested in buying btc for cash via F2F deals can dm me. Can deal in Pune.
I wouldn’t go 100% into anything, but 3k? I’ve blown that at Vegas over a weekend 😂
https://www.pricedinbitcoin21.com your doing just fine
Ever heard the phrase “don’t keep all your eggs in one basket””?
No. You should always have a diversified portfolio to reduce risk.
100 percent. But the hard part for me that God keeps reminding me is I cant time the market. I am not capable of it for some reason. But long term it works out.
aside from maybe 2-3 others any investment in a non btc crypto just dilutes the exposure to the one that really matters…. bitcoin.
Making a concentrated bet on Bitcoin is how I started out investing, but you should be honest with yourself that you are taking a risk. Diversification is to protect wealth. Concentration is a growth strategy and inherently risky. For you it sounds like the risk would just be that you stay poor. I think that’s a reasonable bet to make, and I did the same in your position. It’s risky though. I personally wouldn’t choose Bitcoin as my concentrated bet today, but good luck
You are always taking big risks when you don’t diversify, it doesn’t matter the asset
Bitcoin and a vanguard S&P is all you need. You don’t need to invest in all kinds of stocks. But with the S&P you really can’t lose. If your still young, 25 for example you could walk away with 1 million with the S&P alone by the time your 65. Just putting 50$ a week into it. You’ll have put in only 100k in over that span of time and walk away with about 1 million. If someone had the money it would be stupid not to atleast invest in the S&P. Maybe even before bitcoin. Bitcoin isn’t as sure of a thing no matter how much ppl speculate. I would do atleast those two.
Absolute dog shit advice in this thread. *Obviously* you should diversify OP. *Obviously* placing all of your money and faith in one “asset” is *dumb*. It’s more than dumb, it’s *ignorant*. BTC exposure? Yes. 100% BTC? Absolutely not. At *least* expose your portfolio to a total domestic and total foreign market ETF/MF. If you have to ask if this is a good idea then I can guaranteeeee you will not have the stomach for holding BTC solely.
Depends on your willingness and ability to take risk. Assess things like: (1) can I control my emotions through upward and downward swings? (2) is the money I put into Bitcoin needed for other things soon?
IMO it is a big risk to only invest in bitcoin. You should invest in many different things to protect yourself. Say your wallet gets compromised and you lose everything, you will be completely fucked without anything to fall back on. That’s only one of the risks of investing in crypto.
IMO you should look to invest in many different things (property, pension fund, mutual funds, stocks). That way if one thing flops you have something to fall back on.
It’s objectively more risky, it obviously could work out a lot better in the long run, but it could alot work out a lot worse. Diversification is always a solid move, your money can still grow at a good rate in equities, precious metals etc and it also gives you opportunity due to having different non correlating assets. For example if you believe BTC is the best asset, you can still have Index ETFs or Gold, when Golds up and BTC is down for example what’s happening today you could sell your gold and buy the dip with BTC, if Gold is doing poorly and you feel overexposed to BTC you can do the opposite, if S&P is soaring while BTC is dropping you can take advantage by rotating. It’s always nice to have non correlating assets, it’s nice to be able to skim off 20% of something doing well and put it into something underperforming, aslong as you don’t rotate into some bullshit that won’t appreciate over time it’s a great strategy. It also lowers your volatility in the short term however still allows for solid returns as is you need to sell out the market you don’t have to liquidate everything all at once you just liquidate the asset that’s been doing stronger at that moment in time
You should definitely invest in Bitcoin, but diversification as your portfolio grows is also important. Admittedly, it’s hard to find anything that comes close to bitcoins growth though.
no. at the very minimum do 50% voo 50% bitcoin
Don’t listen to poor people 💁♂️… Bitcoin will probably be at ♾️ in the year 2500.
I’m a Vanguard ETF guy (per their fiduciary responsibility) with a regular DCA into VTI, VXUS, VOO but also Investco QQQ, alongside some real estate. As much as I think Bitcoin is a phenomenal investment, heavy concentration into one asset class can be disastrous. Diversification is your friend!
Diversify!
If you stick to BTC it’s good for me too
I’ve been full port BTC for almost a decade. No regrets. It’s like we’re investing in the internet or cell phones in the 90’s. There’s SO much upside long term. I feel 100% comfortable because I fully understand the tech behind it, educate yourself if you’re unsure.
If you want to make crazy money fast, BTC may or may not work for you. If you want a space to save long term that guarantees amazing returns, it’s definitely the best option IMO
“i don’t want to try any other stocks, etfs or crypto” proceeded by “Is it good or bad that I am sticking only with Bitcoin?”.
Your first sentence was a statement, you seem pretty convinced in Bitcoin. So why ask for advice? What do you want to hear if you don’t want to try any other stocks or etfs?
Not advice seeking but you asked a question? I guess I will not provide any advice since you are not advice seeking.
Depends on timeframe. Anything you 100% don’t need for 4-5 years can go into bitcoin. It’s projected to increase in value faster than other asset classes, but the ride will be bumpy.
You said you want advice, then you said you don’t want advice? The first rule of investing is to diversify. Don’t put all your eggs in 1 basket.
Why? If you need money for any emergency reason, at least you can pull out of the account that’s doing well, instead of pulling your bitcoin out when Bitcoin is down.
That being said, if you were it pick one thing to invest in, I think BTC is a good option for it.
You should take 500 out and put it in ybtc and use the divs to buy btc.
Good keep it that way.. if i had the same mindset ill be on a bigger stack of btc.. but i was diversifying because it was safer and those other investments havent done aswell as btc
It’s what I am doing. It’s what banks are doing. It’s what governments are doing. It’s what people who live in corrupt countries are doing. Are you not just as good as them?
what ever you do, don’t use shady exchanges and don’t use any kind of wallet you can download thats not serious or no one ever has heard of.
use a serious good known exchange to buy and get yourself some really good hardware wallet to store it.
don’t fuck it up because you are cheap or lazy to read about these things.
Asking in /bitcoin if is good to invest in bitcoin.
You’re not looking for unbiased opinions, you’re looking for someone confirming your choices.
And that’s dangerous.
Bitcoin sucks liquidity from all other markets.