Quote from: JayJuanGee on Today at 05:38:11 PM

Quote from: Gallar on Today at 08:00:53 AM

Quote from: ginsan on July 24, 2024, 08:39:25 PM

Mr JJG, the explanation you explained was quite good and added insight for me. I will make it a practice not to think out early and continue week after week to continue accumulating Bitcoin. Why do I believe that is because the money I use to invest in Bitcoin is money that is not used or that is not burdened in my daily life. For this reason, I will no longer say when the ideal age is for them or for myself to experience the results of investing in Bitcoin because it is all their own decision.
~Snip

Yes, JJG does provide very appropriate advice for anyone who wants to invest in Bitcoin (especially for members who like discussing or reading his posts). Especially in terms of thoughts or ideology about collecting money into bitcoin. Because it cannot be denied, many people and sometimes me too, think too much when they want to buy Bitcoin. Although basically it is normal to think first before buying Bitcoin, if you overdo it it will definitely end badly.

Moreover, thinking too deeply about when can enjoy the results of Bitcoin investment will certainly dampen enthusiasm for investing, especially for people who are no longer young. So as you said, if have money that is very cold or unused, don't think too much, it's better to just collect it in the form of bitcoins. Because in essence the money invested in Bitcoin will certainly not be lost or suffer losses, but what is certain is that the money invested will still be there and its nominal value will definitely continue to increase. Because it has been proven to date, Bitcoin continues to experience quite significant price increases.

Quote from: JayJuanGee on Today at 07:27:42 AM

Quote from: Hewlet on Today at 07:07:34 AM

I believe we who are now the current set of investors are at a better advantage than earlier investors and we can actually learn from the mistakes they've made and ensure that we don't repeat those mistakes.

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.

However, as JJG said, the knowledge we take from the experience of old investors will not guarantee us 100% error-free. This is indeed true, because everything in this world continues to develop, including bitcoin too. Because a simple example like this, stock investment, has been around longer than bitcoin investment. So everyone who wants to invest in shares must be able to avoid mistakes that can cause losses, because there are still many other people's experiences that can be applied. However, the evidence is that currently quite a few people have experienced losses in stock investments due to their own mistakes. So that's what's happening among bitcoin investors right now. Even though can get a lot of information and knowledge about Bitcoin investment, there are still many who can fall into the abyss of mistakes or losses.

So what triggers this to happen? namely implementation.
Because in essence what is difficult is not seeking knowledge, but what is more difficult is applying that knowledge to the bitcoin investment that we make. So even let's say someone is going to invest in bitcoin and hire a great mentor who has experience with bitcoin. This will be useless if the person who hires the mentor does not apply all the knowledge that the mentor has explained to him.

Both of us seem to be suggesting that learning comes from experience, and personally, I am not even suggesting that people are going to learn and the same rate. Some people learn faster and might even have had better and more interesting experiences in their lives prior to getting into bitcoin, and frequently if we try to be in touch with our limitations we might be able to experiment and also to try to make sure that we are learning from our mistakes rather than making similar mistakes over and over, since sometimes it can be difficult to even know the extent of our mistakes and some practices might not be the right practices. Sometimes we might get overly focused on short-term profits, lack of profits or even losses that we have, but then we also might learn that getting too focused on short-term might not be to our advantage if we are accumulating bitcoin and we are early in the process of BTC accumulation, we may well not be in profits, and it may well not even be very important if we are in profits. Sometimes it might be better that we are not in profits in the beginning, since in the beginning we should be accumulating BTC, which can take one or two cycles to get to a really good place with our BTC accumulation, depending on the level that we are able to make our disposable income - which also sometimes young people might be attending school (university) and training in various ways so they might not be in as good of a position to increase their disposable income and to invest into bitcoin, so they have to find a balance in their investment that is comfortable for them.

Experience may be more important than a mentor, yet the idea of a mentor is to get advice and guidance, yet sometimes the free sources are as good as the paid sources, yet guys have to figure out their balances in that too, since one of the selling points of a paid mentor is that they will specifically focus on helping in a way to cause a belief that their services were worth it.

You are right, experience is a great teacher, nonetheless, free things such as tutorials, speeches in podcasts, or books could be as good as or even better than paying for a mentor. However, getting a good mentor is valuable since he or she will be assigned to guide, monitor, and support the person being mentored.

As you rightly pointed out, the issue is to achieve balance. Some of them may like studying by themselves, while some of them depend on individual help. Mentoring can be done freely, charged or fully paid meaning paid mentors come with the advantage of giving individual advice and have a stake in the mentee’s success but of course this comes with some cost.

In the end, the goal is to discover what would serve each person well, whether it is using the websites and the free apps or enlisted assisting via paid professionals or learning on the job. And you’re correct, for every man has his own proportions and an idea of how much time he is ready to spend for his personal and professional development.