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Anyone who is aspiring to be an investor knowing fully well that with his or her financial status he or she can not scale through it and still venture into Bitcoin investment will probably end up along the line and one of the thing that always cause this is covetousness, when they saw there friends or relatives is investing in Bitcoin and seeing the progress in their investment will trigger some people to..., However, I don't see anything wrong if an investor take this investment as a competition and they have all it takes to maintain i mean keep their investment running smoothly but the only time I consider or see it to be a wrong move is if an investor doesn't have what it takes to... Because definitely they are going to get choked some day, the advantage an investor will have if they take it as a competition and have the money to keep their investment..., is that they will increase their portfolio so quick which is every investor's mindset.
Yes people do like to compete, yet there are still going to be needs to tailor their level of aggressiveness to their own particular
9 individual factors rather than trying to do (or out-do) what some of their peers might be doing.
Surely a person might consider that he is just being aggressive in his investing and not realizing that he is being over-aggressive until it is too late and he ends up screwing up his finances because he over did it.
I think it's okay for us to compete to build our bitcoin portfolio with other people. However, on condition that this must not be based on greed. Because greed will certainly make our investment in bitcoin run less smoothly. So what I mean by competing here is just to serve as motivation for us. So that we can work harder and have more income to accumulate in bitcoin. I think if competing to collect bitcoins is based on that (as motivation), there is no problem for me to compete. Because sometimes someone needs encouragement or motivation to stay enthusiastic about doing something like investing in bitcoin.
However, if we are competing to collect bitcoins, we still have to be careful. Because sometimes we cannot control our emotions or feelings completely. So, instead of being a good motivation, this could actually be a negative motivation. Like investing as much money as possible in Bitcoin, without realizing that the money is for other needs (hot money). So in this case we have to be careful if we want to compete to collect bitcoins (against our own emotions). Therefore, if we feel unsure about competing to collect bitcoins with other people, it's a good idea to do DCA casually. Because in my opinion, doing DCA calms the mind and has very minimal risk.