Quote from: Sim_card on Today at 07:36:16 AM

Who knows a time will come when bitcoin investors with good portfolio size might outsmart the rich who inveted only in tradition investment in wealth because of the price of itcoin at that time. A lot of people that did not invest in bitcoin now will regret it in future when bitcoin price will be very expensive to buy just as those who didn't buy bitcoin when the price range was $100-$1000 are regretting currently.

The time has already come for those who have largely been accumulating and holding bitcoin to have had greatly outperformed the no coiners and low coiners. Bitcoin has been outperforming every other investment asset and/or currency over the past 13 years, and there is no evidence to suggest that bitcoin's outperformance of various traditional assets/currencies is not going to continue.

It is like the expression: "we are going to win." That expression is incorrect in its temporal assertion, since we are already winning and we have been winning, and so the longer that any of us has been concentrating on bitcoin and mostly accumulating bitcoin (whether DCA or other strategies of lump sum buying and/or buying the dip), the more the BTC accumulator/HODLers have been winning and likely going to continue to win.

Of course, there are no guarantees that bitcoin will continue to win for the accumulators and hodlers, since past performance does not guarantee future results, even though past performance up until this particular point already has shown and established bitcoin as performing better than any other asset/currency, especially if we are considering timelines of 4-10 years or longer.

We can also consider bitcoin as broadly and widely available to everyone and anyone, even though surely with any investment there is a need to have an ability to invest in terms of having a disposable income, yet at the same time, no one has been excluded from owning bitcoin - even though surely there are some potential technological barriers in terms of having some kind of access to the internet, yet still being able to invest in bitcoin has been fairly available across the world, even though geographical locations could cause some challenges for some folks to actually buy bitcoin from certain remote locations and if some technology might not be available.. yet I am not sure if there are ways to resolve those kinds of matters in regards to how available an investment is.. such as bitcoin.. There are some advantages that come from learning about something in order to be able to participate in it.

Quote from: DubemIfedigbo001 on Today at 11:33:34 AM

Quote from: Just Say on October 07, 2024, 03:17:50 PM

[edited out]

Bitcoin investment might arguably not be the best investment in the world, but it is surely a good one, and its accumulation is held greatly in preference to some concerns which is mostly shitcoins investment, trading, government interference and hoarding fiat.

I am having trouble understanding which investments might be better than bitcoin, especially if we are talking longer term, such as 4-10 years or longer.

Quote from: DubemIfedigbo001 on Today at 11:33:34 AM

Other people might have their conviction in investing in real Estates or even Agriculture which is still profitable too.

Some people might need to invest into something to help them to generate an income, so sometimes business men might need to roll over profits from their business into keeping building and expanding the business, which might be the best for their own situation in terms of being able to earn an income, since something like bitcoin requires a disposable income otherwise the advantages of investing 4-10 years or more could not be realized.

Quote from: DubemIfedigbo001 on Today at 11:33:34 AM

When I have discussions with friends who have different investment mindsets, I simply ask them if they have money set aside for savings and they do not intend using anytime soon and does not affect their living activities. when they respond in affirmation, I introduce accumulating bitcoin another way to help them save their spare money for a longer period of time instead of just hoarding it in the banks and we are good. I don't convince them to stop their own investments, I only let them see bitcoin as a way of preserving their funds from devaluation, investing spare funds and in turn getting good profits in the long run.

That is fair enough. There are some folks who might already be investing and/or saving, and for them, bitcoin can supplement what they are already doing to potentially complement what they are already doing, yet like you suggested, they need to have some level of discretionary income first, and I would suggest that they need a 4-10 year or longer timeline to invest into bitcoin if they want to come into bitcoin as an investment rather than merely attempting to trade it.

Quote from: Marvelockg on Today at 11:38:16 AM

Quote from: avp2306 on October 07, 2024, 11:49:31 PM

Agree, there's no guarantee with bitcoin in terms of gaining profit. Since if someone claim that they could give you a sure profits with bitcoin then ask you to go with them, start to doubt with that since provably they have bad intentions with you.

I presume that your ascertion that there's no guarantee with Bitcoin investment in terms of making profit is just a function of trying not to become too ambitious with what you're expecting from your Bitcoin investment. Even though there might not be 100% guarantee in Bitcoin investment (which is similar to all the other investment choices), there's still at least an 80% guarantee that Bitcoin is a good store of value and that if you buy Bitcoin and HODL it for the long term at this current price, you will be in profit. I wouldn't advice anyone to go all out trying to convince people to invest in Bitcoin with promises of getting massive returns from it but at a set out date but for the long run and using the DCA methord, I can comfortably talk anyone into investing as long as I'm certain the person has a long term intention in view.

You might be correct that the odds for bitcoin performing well is fairly high, such as 80%, yet I have some difficulties in terms of placing any kind of exact value on it, except maybe that it seems to be greater than 50/50, so that justifies investing into it. The most that you can lose is 100%, yet there are a lot of upside scenarios within various timelines, so even if our investment timeline might be 4-10 years or greater, than maybe we might suggest that there are pretty good chances that we will be profitable within such timeline, both in terms of the dollar (fiat) value of bitcoin, yet it will also account for the debasement of the currency, so the odds are greater than 50/50 that we would be in a better place to have had invested into bitcoin as compared with not investing into bitcoin. In order to have an investment thesis, I am not sure if you need more than that, even though sure, you might be right that a number greater than 50% (even approaching 80%) could be reasonably asserted.

For example, when I got into bitcoin in late 2013, I was hoping that I would at least be able to achieve a nominal return of at least 6% per year (which was similar to my then historical average over the previous 20-ish years. Yet at the same time, I did not have any kind of an exact timeline that I was considering staying in bitcoin, and I also appreciated that there were scenarios in which I might not achieve my wish, so I was ready, willing and able to lose 100% of what I was putting into the investment. So, personally, it seems to me that the reason that I invested into bitcoin was that I was thinking that the odds over a longer period of time (not specified at that time) would be that I would have greater than 50/50 chances to have better returns by putting value into bitcoin as compared with putting the value into the traditional investments that were then available to me (the ones that I had historically been investing into that tended to average around 6% per year over the previous 20 years-ish).

It seems to me that if I had assigned 80% odds of such returns, then I might have had been more irresponsible in the way that I invested into bitcoin. Actually, I did not exactly figure out my bitcoin allocation target until I had already been in bitcoin for about a year (by about late 2014), so then I established that my target was going to be 10% of my quasi-liquid portfolio into bitcoin.. and so yeah, I ended up overallocating by the time I was in bitcoin for nearly 2 years I was up to about a 13.5% allocation into bitcoin... so I am not sure if my behaviors reflected that I had thoughts of more than 50/50 odds that bitcoin would outperform my other investments.

Quote from: Marvelockg on Today at 11:38:16 AM

Quote from: avp2306 on October 07, 2024, 11:49:31 PM

What makes bitcoin good is less supply and it have huge demand so we can really look forward for more pump with this coin.

Bitcoin is not like the coin out there that just pumps because of some random hype that comes about due to seasonal demand. The demand for Bitcoin has been at an high rate right from the past and till date, Bitcoin is still in high demand and in addition to that, Bitcoin also has a lot of added quality apart from demand and it limited number in circulation which is what has helped it to remain dorminant throughout all these years it has stayed. Of course when you add all the uniqueness that comes with Bitcoin, you just know why it stands out and shouldn't for any reason by compaired to all the coin in circulation.

It can be difficult to try to articulate why the strength of bitcoin's investment thesis goes beyond just the pump and dump attributes of various shitcoins, and not merely because bitcoin was first, yet likely that if any kind of project (or coin) were to actually overcome bitcoin's protocol layer lead, then it would have to both improve upon bitcoin, but also would likely need to be at least 10x better than bitcoin in order to take over its network effects and to become the leader. So far, there has been no other coin or project that has come close to either just matching bitcoin or showing itself to be 10x better than bitcoin in order to actually take bitcoin out of its protocol layer leadership position.