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RE: Why Bitcoin is Perfect for Most First-Time Investors

in #bitcoin7 years ago (edited)

I really consider myself one of those millenials. Never invested in anything before. I'm not into stocks, bonds or real estate. However, when I heard about cryptocurrency, it triggered something. Probably what it also triggered for many other millenials. So I invested some money into it, but not a lot. Also, I just got into this crypto world since early October, investing since November, and just holding. And you are right, I'm not shocked by the 20-30% price drops. I see it as a rollercoaster ride. It's exciting when the price drops.

I think when you invest like 500-1000 USD (or EURO in my case), into cryptocurrency and you can earn approximately 5000 off of that, you have yourself a fun amount of money to spend. I don't think this is about getting rich. I think this is something that makes your life somewhat easier. And you could go on a nice vacation after a year, or you safe some money for a new car, whatever you like.

Especially when you gain like 5000 USD/EURO after an amount of time, and you pull out your initial investment of 500-1000, the rest is profit and fun. And you won't have to be sick about it when the bubble pops. If it does pop. And you can even pull out some money whenever you like. Or reinvest in some other cryptocurrency when you feel like it. It sure feels a little bit like gambling, but I think people need to control themselves. Like you said, you shouldn't do a big bank loan and invest everything you have into it. Be playful, have fun, make it work for you.

I'm still not sure myself if the bubble will ever pop. Although I'm in it for the money, I also see a good future in what the blockchain technology has to offer. I'm pretty sure we will get some use out of it. I promised myself I would not invest more than 1000 EURO each year into cryptocurrency. If I ever lose it, bad luck. I can handle that. I have a regular job, so I can take the hit if the bubble ever pops.

Thank you for the video and all the work you put into cryptocurrency, steemit, youtube et cetera.

Cheers! Puud

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Agreed. I ended up selling the superfluous items in my house to use for crypto. Stuff I never used which made it money I could afford to lose. (Just things like consoles and DVDs. ). Like you, a limit was set to 2k and now I have no hit 'when' the bubble pops. I can have more fun and possible profits in this game. I do still need to secure more profits. Something easier said than done.

Thanks for sharing your thoughts puud, well said - Suspect many others feel the same way.

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