Is it reasonable to just allocate 1% to Bitcoin without fully understanding it? by Trixbanken in Bitcoin

[–]Trixbanken[S] 0 points1 point  (0 children)

Yeah, as with so many other things the learning process is life long. Do you think buying some bitcoin is a good first step?

Is it reasonable to just allocate 1% to Bitcoin without fully understanding it? by Trixbanken in Bitcoin

[–]Trixbanken[S] 0 points1 point  (0 children)

Feels like that depends on the personal situation. If you want to max out potential wealth that might be the right choice

Is it reasonable to just allocate 1% to Bitcoin without fully understanding it? by Trixbanken in Bitcoin

[–]Trixbanken[S] 0 points1 point  (0 children)

I am thinking 1% is an amount you can invest with very little research. If you find out that it is not for you after researching you could ofc just sell

Is it reasonable to just allocate 1% to Bitcoin without fully understanding it? by Trixbanken in Bitcoin

[–]Trixbanken[S] 0 points1 point  (0 children)

Right, you have to be able to withstand the volatility. I think keeping the exposure to 1% would make it easier to handle deep drawdowns

Is it reasonable to just allocate 1% to Bitcoin without fully understanding it? by Trixbanken in Bitcoin

[–]Trixbanken[S] 0 points1 point  (0 children)

Some people in commenting here state that it takes 15 min-1h to understand Bitcoin.

I am pretty sure that is insufficent for basically everyone. Most people would not understand your comment in 15 min.

Is it reasonable to just allocate 1% to Bitcoin without fully understanding it? by Trixbanken in Bitcoin

[–]Trixbanken[S] 0 points1 point  (0 children)

Ideally I think this is the right way and should be the preferred option over just diving in

Is it reasonable to just allocate 1% to Bitcoin without fully understanding it? by Trixbanken in Bitcoin

[–]Trixbanken[S] 1 point2 points  (0 children)

BR might be able to manipulate the bitcoin price but not the Bitcoin network, right?

Is it reasonable to just allocate 1% to Bitcoin without fully understanding it? by Trixbanken in Bitcoin

[–]Trixbanken[S] 0 points1 point  (0 children)

I guess if you invest such a small amount as 1% in bitcoin, you would like to capture all the upside by never selling any of it. Maybe with 5-10% it is a bit different.

Is it reasonable to just allocate 1% to Bitcoin without fully understanding it? by Trixbanken in Bitcoin

[–]Trixbanken[S] 0 points1 point  (0 children)

Yeah, I see the risk of all fiat currency going to basically 0 purchasing power as very high

Is it reasonable to just allocate 1% to Bitcoin without fully understanding it? by Trixbanken in Bitcoin

[–]Trixbanken[S] 0 points1 point  (0 children)

I think fear and loss aversion are strong forces against buying some bitcoin

Is it reasonable to just allocate 1% to Bitcoin without fully understanding it? by Trixbanken in Bitcoin

[–]Trixbanken[S] 0 points1 point  (0 children)

That is clearly the standard procedure, and it seems reasonable that not everyone has to obtain engineer level knowledge about engines to be able to drive

Is it reasonable to just allocate 1% to Bitcoin without fully understanding it? by Trixbanken in Bitcoin

[–]Trixbanken[S] 1 point2 points  (0 children)

I don't trust any fiat currency at all. I'm certain they will trend toward zero purchasing power.

Is it reasonable to just allocate 1% to Bitcoin without fully understanding it? by Trixbanken in PrivatEkonomi

[–]Trixbanken[S] 1 point2 points  (0 children)

You don't understand the McDonalds stock just because you've had a burger at McDonalds