I doubt that we can avoid mistakes. We have to do the best we can with the information that we have, and sometimes we are going to make mistakes because we might not sufficiently figure out how to tailor our approach to our own circumstances, and so we likely will have to tweak our approach from time to time, since our information might change and also our circumstances might change and we have to make choices about how to balance out our approach to attempt to best account for those changes in information and/or circumstances.
If you say more profitable, I don't think that's the right word. Because current bitcoin investors and also old bitcoin investors, if you look at the price of bitcoin, it is clearly more profitable to buy bitcoin in the past. So if you look at this, it is clear that bitcoin investors who have been around for a long time can be said to be more profitable than current investors. However, if viewed from a scientific context, it is true that bitcoin investors who are just starting out now find it easier to find information about bitcoin investment. Because as you said, we can take the experiences and mistakes experienced by previous investors and use them as lessons for us now.
[/quote]the main reason why you assume that it's more profitable to buy Bitcoin in the past is because we're now at the present and can easily trace back what the price of Bitcoin was in the past. What if in the future Bitcoin gets to 10x it curent price? Would you still hold on to your ascertion that the profitability of Bitcoin is only beneficial to earlier Bitcoin investors or that they were more profitable than we are? With simple maths, we can easily depict the difference of profitability of past Bitcoin investors to our own case which is mainly dependent on three variables which are;
1. the amount of Bitcoin they bought.
2. The range of price they bought it and
3. How long they HODLed it before they sold it considering that most of them sold too early.
Iether you're an early Bitcoin investor or one that's buying now, these variables plays the greater role in your level of profitability and I believe thier are lots of current Bitcoin holders that are way more in profit than most earlier Bitcoin HODLers and the basic reason is that they bought more Bitcoin and didn't sell too soon just because they've made a slight profit.