actually of a truth each investors is entitled to there investment decisions but however that doesn't mean that trading is the best option for them because is actually not advisable, however I still wonder why most people always prefer trading instead of long time holding, perhaps it could be there perception on trading because I no of someone that just venture into Bitcoin only because he has the orientation that he could make a lot of money through Bitcoin trading so he was propelled to venture into it thinking that it will works the way he imagine it to be and now he has lost half of his money chasing Bitcoin price movement, so perhaps if most investors especially the new ones on Bitcoin investment will be able to remove the spirit of greed and focus only on the future of Bitcoin there is every possibility that they will surely do well on there investment journey.
People with misunderstanding, these are different things altogether, the difference is like indulging in an activity that does not guarantee a 100% assurance of making money through it, though I see people that trade as though they are into it to make fast money, to me there is no short cut in bitcoin investment profit, most times when you think that you want to outsmart the market, you will end up being outshined by what ever tricks you use, bitcoin investment is meant for people with the spirit of perseverance and patience that's why hodling was introduced, why bitcoin has not collapse is because of the holding system, the premature sellers were bridged with this process, the future and continues existence of bitcoin depends on the hodlers that's why hodling will never go into extinction, people with long term holding mindset always smile whenever the time is ripped.
I have actually met someone that said that holding Bitcoin is like keeping money dormant instead of putting it to profitable use.
That is wrong thinking, and a lot of folks have been mislead into investing into products with "yield" and all kinds of gambling with their bitcoin because they fail/refuse to see that bitcoin on its own is already designed to pump forever (something that has a limited supply and also a short period of issuance - until 2140), so there is no need to attempt to earn extra yield on it or to be greedy about it.. in order to profit stupendously by merely holding it and accumulating it... and another thing is getting it before others because those who invest into bitcoin first are likely going to have benefits (kind of like Cantillon effect in bitcoin), which surely is not completely fair, but those who know about bitcoin and act upon accumulating earlier rather than later will likely be rewarded more than those who come to bitcoin later.
In his mind, trading Bitcoin is the fastest way to make good money and he was fully committed to getting the skills needed to make a kill off Bitcoin trading as he has seen the lifestyle of successful Bitcoin traders.
Sure it is possible to trade bitcoin and to still benefit, but many of us know that if you trade bitcoin you are running a lot of risks, unless you are mostly erroring on the side of mostly holding it, but still you could end up on the wrong side of a trade in terms of the most pristine asset that man has ever known.. so why treat bitcoin like a shitcoin.. and surely trading shitcoins would be less repulsive than trading bitcoin, yet you could get caught on the wrong side of shitcoins too, but at least they are shitcoins so it is not like you can expect them to have long term value like you can with bitcoin.
I latter found out he has been following some self acclaimed successful Bitcoin traders on social media. I have actually seen a lot of them and the make trading appear to be a shortcut to wealth and will never tell you the real truth about it.
A lot of trading gurus end up on the wrong side of trades too, so they are all geniuses, until they end up fucking up, and there are quite a few examples of those guys..
So I have long discountenanced them and anyone who flaunt wealth claimed to have been made from trading Bitcoin because that is not the path I chose for myself. It may work for them but I'm not ready to gambling with something as important as my hard-earned money.
I think that it can be o.k. if you limit it to a small amount, such as less than 10%, but the problem with degenerate gamblers is that they cannot limit themselves to 10%, there is a kind of gambling creep and sooner or later they are going to end up fucking up BIG time and it can be quite hard to recover from some of the mistakes when you start to play with large portions of your holdings... plus it does not seem to be a good use of time.. and maybe difficult to sleep and with a lot of additional stress too... but hey some people consider those kinds of ways of playing with their finances to be exciting...
The reason for bringing this here is because there are a lot of new members I noticed that have join this discussion, so it is better they understand our general preference in this topic which is long term HODL of Bitcoin, how to start and sustain it. It has abundantly been clarified that the basic steps is ensuring that dependable source of income is established before thinking long term investment in Bitcoin because without it, HODLing Bitcoin will not work. When the source of funds have been established, then the money should generally be divided into three parts which are for basic needs, for emergency needs and then the part for investment. Each of this should be carefully calculated to be able to get them right from the beginning and when that is done, the journey of Bitcoin investment will become smooth and effortless without the panic and anxiety that many investors exhibit.
Investing can be interesting and challenging too.. even though some people consider it to be more boring than trading, but there are still ways to make it exciting and to potentially really get into analyzing various aspects of your investment, especially if you want to invest aggressively, but on the other hand, if you want to invest less aggressively, then you can largely set forth systems to mostly set it and forget it.. and maybe only look at it a few times a year to make sure you are mostly still on schedule.
Like when I was into trading back then, damn I can't imagine what I went through mostly from the hands of shit coins it reach a certain stage that most of my Gmail messages where all about liquidation text gotten from the particular exchange am using. After making alot of loses then I realized damn!! Trading ain't for me.just imagine those hard earns I wasted on trading, I invested it I would have being in greater profit than the one I am in now. One thing I know is that making mistakes aint bad is part of us as Humans but not learning from those mistakes would be bad!!!
There are a decent number of people who take a long time to learn and they continually make similar kinds of mistakes, since they just love gambling... but then sometimes you will hear from them and they will say that they are not into that anymore and they have found some other place to continue to make similar kinds of the same mistakes.
I think greed has nothing to do with us not doing well in our bitcoin investment journey. For me, greed is one of the factors that will make us hold our bitcoin for the long term, and it is also good for us to invest in bitcoin based on our greed level so that we can accumulate a large quantity of bitcoin that can give us the kind of profit we want from our bitcoin investment. But if you are not greedy enough with your bitcoin investment, you can be tempted to sell your bitcoin if you see a little profit from your bitcoin investment. There is a need for us to be greedy with our bitcoin investments if we intend to hold our bitcoin for the long term so that we can get the maximum profit from our bitcoin investment.
I think that you are mixing up the ideas of delayed gratification and greed, and sure there are going to be elements of greed, even when employing delayed gratification, but one of the angles in which greed goes wrong is to take chances that are not warranted merely because there is a focus on making more money in the short term and perhaps assigning too high of probabilities to the success scenarios without accounting for the downside possibilities.