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Yes, I also buy the same sentiment as you bro, as it stands now, due to the popularity and growth Bitcoin has made over the years, it's more likely for Bitcoin value to rise up to a million dollars in the future than Bitcoin going to zero, that's why it's one of the most sorted after asset right now, I know that due to some factors, we might have our own doubt if we are a newbie investors, but we that has gained more knowledge and insight of Bitcoin knows how valuable it's going to be in the nearest future, because I am very much confident that it limited supply is another major factor that can spur the value of Bitcoin to an amount we never expected.
So in essence of all this is that if as a Bitcoin investor that really want to be successful in your investment, it's very much advisable to be a long term holder, so that you can reap the full dividend of your Bitcoin investment, because Bitcoin is actually going up to the moon, the question here is how long can you hold? I am going to mostly focus on your last paragraph Barikui1. I largely agree with what you are saying, even though I also believe that there is a bit of nuance regarding any kind of attempt at real world application in terms of having great recognition and appreciation that it is quite likely that bitcoin is on an inevitable upwards price trajectory - while at the same time preparing oneself for the also existence of inevitable short-term price volatility that can go either way, especially in the short term.. so in that regard, many folks talk about the practice of HODL - which kind of sounds like gambling - since if actual conviction exists in regards to bitcoin, it still likely can take a very long time to build up the stacked amount of bitcoin, which in reality also means that an overwhelming number of folks are not necessarily able to buy large quantities of bitcoin in the beginning.. but instead they need to continue buy bitcoin on an ongoing, persistent and regular basis, which sure that involves holding too..
but one of the more important practices is ongoingly buying no matter the BTC price.. that may well take 10 years or more to play out in which some other practice (other than ongoingly, persistently and regularly buying) might start to seem reasonable.. and yeah, 10 years seems like a long time, yet at the same time, there are folks in traditional investments that invest for 30-40 years or longer and hardly make any progress in terms of their actually having had built wealth that outpaces inflation in any kind of significant and/or meaningful kind of way. Sure, bitcoin is not guaranteed to outpace inflation in a significant/meaningful way - even though surely it seems to be the most sound money that has ever been created/invented/discovered.
So in essence of all this is that if as a Bitcoin investor that really want to be successful in your investment, it's very much advisable to be a long term holder, so that you can reap the full dividend of your Bitcoin investment, because Bitcoin is actually going up to the moon, the question here is how long can you hold?
Challenging question. This is easiest to say and very difficult to do. If you are consistent and have a side activity that generates income, I think it will easily happen by itself. Because our mental activity is not only focused on investing in BTC, where we are waiting for other work whose schedule is close and must be completed for some time to come.
Careful martinex. There can be a variety of ways to increase income or cut expenses and/or improve skills and employability including sometimes making better choices regarding how to spend time in terms of preparing, planning and executing or even figuring out ways that income might increase even though some time (and even money) might be needed to invest into skills or into figuring out ways to make friends who have better connections, and I am not even saying that starting your own business is a good use of time, even though it could be for some folks, which can surely vary based on location and even social connections that a person has which may or may not be based on social class starting points.
We cannot always be sure if working harder is a potential solution as compared with working smarter - and so the answers are not always going to be clear in terms of figuring out how to increase disposable income, which is either increasing income and/or decreasing expenses.
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You're making sense. One thing I understand from your view is just "starting out". It doesn't count on the class because surely the value will keep increasing whereas the asset keep decreasing so the only way is to begin accumulating and stacking little by little within your means, just like we can't compare those who bought by 2013 to us who are just starting, there is a big gap same thing applied to those who bought and held gold from 2015.
I do lay emphasis on "over expectancy" from Bitcoin, this is the word that I guess is operating on most person why they become afraid or have greed.
I am not sure if you are capturing my ideas very well, and sure, no problem, there are likely going to be differences in the way that any of us consider bitcoin as an investment and what kind of an approach we might want to take in terms of either getting started investing into it or establishing a bitcoin position or maybe at some point coming to the conclusion that we have accumulated enough bitcoin or even more than enough bitcoin.
So each of the stages can take a while to play out, and for anyone who gets over the hump of actually considering to invest (rather than just thinking about it), is likely putting themselves into a position in which they have to put some kind of a BTC accumulation plan into action, and surely you do not need to be rich to buy bitcoin, yet surely the more disposable income that you have, then the more likely you are going to have greater flexibilities in terms of how much of that disposable income that you are going to be ready, willing and able to invest into bitcoin.
So yeah anyone starting to invest into bitcoin now or who had only started to recently invest into bitcoin, may well find themselves having some kinds of dilemmas regarding how much to invest or if they might be too late or maybe there might be come reason to wait for dips rather than investing now, so there can be various levels in which confidence is lacking, and they are trying to figure out their own level of conviction and how much of their disposable income that they might want to dedicate towards investing into bitcoin.. and perhaps establishing a decent position in bitcoin that could take 4-10 years or longer merely to establish a decent position, even if investing fairly aggressively during that whole time.
So, yeah, what is the balance that any of us reach in terms of investing into bitcoin? and are we wiling to just figure out some kind of a reasonable amount that works for us and to potentially just continue to build our bitcoin holdings for 4-10 years or longer, and surely if we are somewhat new to bitcoin, we might have hesitations regarding how much we might want to commit in terms of our investment, yet at the same time, we might also be getting distracted by some desires to potentially profit in a period of less than 4 years to invest some money and then to cash out during an upcoming wave that folks seem to be talking about...
and surely people can do whatever they like, yet I frequently suggest that it is is much better to not get lured into thinking about potential short term price waves in bitcoin and just figure some kind of an accumulation plan that will at least take you through a whole cycle (of 4 years) and then perhaps after you spent some time accumulating bitcoin for 4 years or more within your budget, then you can study bitcoin through that time (and also your personal finances and psychology) in order to come to some conclusions in regards to whether you might make some adjustments to your own BTC accumulation strategy based on where you are at with your earlier employment of such strategy for 4 years or longer.