Quote from: EarnOnVictor on Today at 12:20:11 PM

Quote from: Frankolala on September 04, 2024, 03:24:49 PM

Quote from: EarnOnVictor on September 04, 2024, 02:39:45 PM

By that, I would have known the best place to regularly buy it when it dips and the regular place I would liquidate it when it reaches certain highs to repurchase at certain lower levels again. If such has been done since the beginning of this year I wonder how much the investor would have realized already. However, if Bitcoin can get lower to about $15,000-$20,000 again, HODLing is still good for it because the level is lower enough to give you a rest of mind and still earn well for you over time.

No one can predict the market to know when the dip will come or when the price will pump amd this is where traders run at loss.

You talked like a typical newbie or perhaps you do not know how to express yourself correctly. Maybe you wanted to say that no one can know what the market would do perfectly, that would have had more meaning than what you expressed. In my years of experience, I know that there are seasoned traders/investors, some may even have up to 95% accuracy in certain months and use money and risk management to cover the lapses of the remaining shortcomings.

If you have not attained that level yet doesn't mean some people have not and your discouraging words will demotivate the intending traders/investors to train more. If truly no one knows at all when the market will buy or sell as you claimed, why are people calling it trading/investing? Is it not gambling since they are just betting on what they do not know? Where is the power of true analysis and speculation? Can you now tell me that trading/investing is indeed gambling? If you do, then it will be a waste of time even replying to you.

Yes. Trading is more like gambling than investing is like gambling... So it is accurate to suggest that much trading is like gambling absent extensive training and experience.

Even if there are some groups (members) who supposedly are god-like and might have 95% accuracy for short periods of time, that still does not mean that it is a good idea for anyone to get into trading without purposefully seeking to train is such area and surely not presuming that he is going to have any positive results unless he trains.. so evne traders who proclaim themselves to be trained in trading might not employ their skills well enough to consistently get good results or even to perform better in their trading portfolio as an investor who largely just accumulates and holds BTC, especially when we are going out to periods that are longer than a cycle or two. The longer the period, the more likely the BTC DCA-er/accumulator/holder will have had done better than the trader.

Quote from: Frankolala on Today at 03:58:48 PM

Quote from: EarnOnVictor on Today at 12:20:11 PM

[edited out]

It is impossible for investing in bitcoin to be called gambling because an investment is what you put in your time and resources to nurture and build it overtime so that it will grow to an extent that it starts generating profits for you, even if you are taking the profits bit by bit...

There are some investors who employ investing techniques in very risky ways that end up devolving into gambling practices... Maybe not as often as traders devolving into gambling techniques, but investors are not completely immune from having a gambling label when they are employing very risky techniques/practices.

Quote from: Frankolala on Today at 03:58:48 PM

It will still be increasing in value overtime. I joined this forum May 2022, and I started buying bitcoin with DCA from November, 2022 when bitcoin price was $18k. Imagine the amount of bitcoin I was able to acquire at that period of time at $18k+ have made 3x profit with the current price of bitcoin at $56k+.

Bitcoin is not guaranteed to go up, and past performance does not guarantee future results.

Quote from: Frankolala on Today at 03:58:48 PM

Apart from that, I didn't stop my DCA but continued till date and my DCA is ongoing which I will continue for many years. With the little example that I gave from my experience, it has really proved to me that investing in bitcoin overtime is not gambling or waste of time.

Back to trading...this is similar to gambling and as risky as gambling because you are after quick profit and when wrong decisions are made you run at big loss. You might be making your little profit from trading but I am a bad trader and for that reason I prefer to buy and hodli for long because I am investing for future and I don't worry about what bitcoin price is whether dumping or pumping. Trading is gambling because majority of traders run at loss only few make profit from it. Majority of newbkes jump into trading in the beginning and jump out after a great loss.

I largely agree with you on the last portion Frankolala, yet the mere fact that traders lose money does not cause them to be gamblers. It is probably better to think about the fact that traders are tending to make a lot of moves in both directions buying and selling, and so they are likely taking way more chances than an investor, and sure some of them might have a lot of skills, so then those ones might not be gambling as much since they are employing a lot of skills, yet the skill base and the application of the skills does vary quite a bit in trading, so there are way more odds that traders devolve into gambling as compared with the techniques and practices employed by investors.